FBMKLCI
1774.16 -9.90pts (-0.55%)
Volume 2.146b Value 1.879b
1) The KLCI continued its downtrend for a 4th day weighed
by the weaker US market as investors remained cautious over the lack of
progress in Washington budget talks. In the regional market, SHCOMP -1.94% and
HSI -0.36% slipped amid profit taking in the market just before the 7 day
holiday next week while the NIKKEI outperformed gaining +1.22% after the
government reported that they would consider cutting corporate taxes. In the
local market scene, penny stocks rallied today with names like MAS +3.03%, TMS
+5.71% and CSL +6.97% leading the list
of the most active trades. Market breadth was negative with losers beating
gainers by 404 : 327. Futures closed 1768 (6 pts discount).
2) Heavyweights : GENM -1.88% RM4.16, PCHEM -1.73%
RM6.78, MAYBANK -0.812% RM9.77, PBBANK -0.56% RM17.68, CIMB -0.64% RM7.74, MISC
-2.69% RM5.05, GENTING -0.76% RM10.34, RHBCAP -3.06% RM7.60
3) DBT : HOVID 15mil @ RM0.30 (1.968% PUC), BJFOOD 10mil
@ RM1.66 (3.788% PUC), SHL 7.026mil @ RM1.80 (2.902% PUC @ 6.27% discount).
4) Situational:-
BPURI +7.74% RM0.835 - Bina Puri Holdings has secured a
RM441.0m contract from Sime Darby CapitaMalls Asia (Melawati Mall) Sdn Bhd to
build a 13-storey shopping mall in Bandar Ulu Kelang, Selangor.
5) GAMUDA
FYE Jul 2013
Tover +25.8% RM3.88bn Net -1%
RN541.4m EPS 25.37sen
Excl arbitral award, 6% below cons(f) RM694m
4Q numbers were impacted by the RM110.7m Arbitral award
thus affecting full year numbers. Segmental operating profits saw concessions
dominate with 39% of total followed by property development 37% and engineering
and construction 24%. The property sales were hit by the on going slow down in
Vietnam affecting Gamuda City in Hanoi and Celadon City in HCM.
It is the PDP for the MRT with MMC where RM21bn packages
have been tendered out and as at Aug 2013 is 26% completed. It is on schedule
to be completed by July 2017.
Company continue to be a top pick in the sector as they
remain the main beneficiary of Govt infrastructure contacts with the catalyst
of a positive conclusion to the negotiations for Selangor water assets. - Buy
on weakness ard the RM4.30 levels.
6) Market - Consolidation to continue with immediate
support around the 1767 levels on the KLCI.