FBMKLCI
1769.03 +0.41pts (+0.02%)
Volume 1.771b Value 2.1.623b
1) The KLCI shrugged off worries of the US government
shutting down officially at midday as it traded higher in the later session.
Sentiments in the region were stronger in the later session as emerging market
rose with JCI, SET gaining +0.69% & +1.74% respectively. In the local
market, oil and gas sector outperformed the CI after gains among names like
SKPETRO +3.25%, PERDANA +2.70%, DIALOG
+2.36%, DAYA +1.56%, CLIQ +7.51% and SONA +2.27%. Market breadth was
slightly positive with gainers inching pass losers by 372 : 361. Futures closed
at 1770.5 (1.5pts premium)
2) Heavyweights : SKPETRO +3.25% RM3.81, GENM +1.89%
RM4.30, DIGI +0.617% RM4.89, PPB+1.26% RM14.40, PBBANK -0.45% RM17.66, MAYBANK +0.40% RM9.80, YTL
-1.94% RM1.51, PETGAS -0.81% RM21.82.
3) DBT : SMPC 5.625mil @ RM0.60 (11.601% PUC @ 20%
discount), JETSON 3.762mil @ RM1.74 (4.401% PUC @ 6% premium), UEMS 2.32mil @
RM2.61
4) Situational:-
XDL +5.66% RM0.28 - XiDeLang Holdings plans to raise
between RM42.5m and up to RM111.9m under a corporate exercise to fund its new
design and production centre. The company, which makes sport shoes and
sportswear, has proposed a proposed renounceable rights issue of up to 322.6m
on new shares of 10 US cents each at an issue price of 35 sen per rights share.
The corporate exercise includes the proposed issuance of 241.9m free detachable
warrants and an attached bonus issue of up to 241.9m new shares.
5) MAH SING
Sanjung Tropika Development Sdn Bhd a wholly-owned
subsidiary of Mah Sing entered into a conditional sale and purchase agreement
with Bistari Land Sdn Bhd for the proposed acquisition of thirty one (31)
pieces of adjoining freehold lands with a total net land area measuring
approximately 1,351.84 acres for a total cash consideration of RM429.86m or
RM7.30 per square foot.
The properties are located within Bandar Bistari Perdana
in Pasir Gudang, Johor Darul Takzim. Currently, the Lands are agricultural
land. Mah Sing will be applying for the conversion of the Lands to the relevant
category of land use as proposed in the development plan which is subject to
approval by the relevant authorities. The eventual plan is for a township with
an estimated gross development value of approximately RM5 billion.
The Project is expected to be completed over a period of
7 yearsMah Sing intends to fund the Proposed Acquisition through a combination
of internally generated funds, the proceeds of approximately RM397.74 million
raised from the rights issue with warrants which was completed on 22 March 2013
and/or bank borrowings.
This will result in a net gearing of 0.41x from 0.26x as
at end 2012.
+ve as the company
has managed to move quickly to cover the disappointment of terminating its
acquisition at Senibong also in Johor with they new parcel.
6) Market - Uncertainty in markets should see funds
remain largely sidelined with the KLCI drifting on a negative bias. Immediate
support 1750pts.
