FBMKLCI
1716.76 -7.45pts (-0.43%)
Volume 1.470b Value 1.812b
1) The KLCI lost grounds in tandem with the regional
market amidst fears of an airstrike on Syria, tapering by Fed in upcoming FOMC
and Fitch Rating raising concerns that the fuel hike announcement would not be
enough to aid the country's deficit. Selling pressure was evident in the
morning as index sank to a low of 1702.57 (-21.64pts) before recovering to
close at 7.45pts. Top losers among the CI were MAYBANK-1.89%, UMW -1.43% and HLBANK -1.28%. Market breadth was negative
with losers beating gainers by 431 : 277. Futures closed at 1700 (16 pts
discount).
2) Heavyweights : MAYBANK -1.89% RM9.83, MAXIS -0.72% RM6.86, GENTING -0.95% @ RM9.29,
PETDAG -0.89% RM26.72, UMW -1.43% RM12.40, GENM -0.96% RM4.09, HLBANK -1.28%
RM13.78, PETGAS +1.09% RM20.30
3) DBT : CMMT 22mil @ RM1.45 (1.243% PUC @ 3.4%
discount), MQTECH 17.891mil @ RM0.1106 (7.799% PUC), TROP 7.3mil @ RM1.50
(0.66% PUC @ 6.25% discount), MAYBANK 7.25mil @ RM9.90
4) Situational:-
IRCB +14.75% RM0.35 - Integrated Rubber Corp Bhd will get
a capital injection by investors Cheang Poy Ken and Keen Setup Sdn Bhd for
RM44.8m for its debt settlement. IRCB is also expected to enter into a
debt-settlement agreement with Malayan Banking, Maybank Islamic Bhd, Ambank and
CIMB for the full and final settlement of all amounts of borrowing or
indebtedness or liability including without limitation principal, interest,
costs, charges or expenses or other liabilities up till the settlement date
owed. This raises the hope that it could be uplifted from PN17 status.
5) BINA PURI
Bina Puri Holdings Bhd. has accepted the letter of award
from the Consortium of Apex Energy Sdn. Bhd. and PT Rekayasa Industri for the
project known as "Supply, fabrication and construction of civil works,
Package 7" in Sipitang, Sabah for
contract value of RM67.23 million. The above mentioned works shall be completed
within eleven months.
The Group's current unbuilt book order stands at RM1.52
billion as at to date.
Despite the impressive order book the company continue to
lag in delivering bottom line performance due to low operating margins. Prefer
Gamuda/ Muhibbah/ Crestbuilder in the construction space in terms of big cap,
mid cap and small cap players.
6) Market - Cautious trading to persist as credit
agencies continue to call for more measures to be made by the Govt to address
its deficit. A more comprehensive package will probably be unveiled in the
Budget scheduled in Oct whereby until such time funds will continue to take a
wait and see stance.
