FBMKLCI 1785.75
+9.83pts (+0.55%) Volume
1.825 Value 1.608b
1) The KLCI reclaimed some ground today following the
dovish US market after President Obama offers to consider Republican budget
deal to temporarily lift the nation's debt ceiling. The optimism from US/Europe
spilled over into the region, boosting all indices; SHCOMP +1.70% led in gains amongst other indices
as NIKKEI +1.48%, ASX +1.63%, HSI+1.16%, STI +0.31%, KOSPI +1.17%. PETRONAS
linked stocks saw buying interest as PETGAS +1.81%, PCHEM+1.43%, PETDAG +0.34%
rose while oil and gas related stocks SKPETRO +0.78%, DIALOG +1.07%, PERISAI
+4.65% outperformed the market. Market breadth was positive as gainers beat
losers by 480 : 282. Futures closed 1789.5pts (4pts premium).
2) Heavyweights : MAYBANK +1.01% RM10.00, GENTING +1.75%
RM10.42, CIMB +0.94% RM7.49, PBBANK +0.66% RM18.20, PETGAS +1.81% RM22.50, PCHEM
+1.43% RM7.06, SKPETRO +0.78% RM3.85, KLK +0.79% RM22.88.
3) DBT : DESTINI
22.595mil @ RM0.30 (4.58% PUC @ 10% discount), TALIWRKS 18mil @ RM0.90 (4.124%
PUC @ 8.20% discount), APFT 5mil @ RM0.30 (3.185% PUC), MAYBANK 4.865mil @
RM9.96
4) Situational:-
AZRB +6.38% RM1.00 : Ahmad Zaki Resources Bhd has bagged
a RM162.96mil contract from Perbadanan Perwira Harta Malaysia for the
construction of the Royal Malaysian Police Air Wing Unit base in Shah Alam. The
air base project in Jalan Lapangan Terbang Subang, Seksyen U3, Shah Alam is
expected to be completed within two years.
CBIP +3.20% RM2.90 : CB Industrial Product Holding Bhd's
unit has secured a RM33mil contract to build a palm oil mill in Kalimantan,
Indonesia. CBIP said that its unit Modipalm Engineering Sdn Bhd had accepted
the LOA from PT Windu Nabatindo Abadi, a subsidiary of PT Bumitama Gunajaya
Agro. The contract is to build a 60 tonnes per hour continuous sterilisation
palm oil mill.
5) SPRITZER
1Q Aug 2013 Tover
+16.7% RM55.6m Net +62%
RM5.2m EPS 3.7sen
12% below
cons (f) RM23.6m
Profit before tax has increased 61% from RM4.1 million in
the preceding year corresponding quarter to RM6.6 million in the current
quarter, attributed mainly to the higher sales volume of bottled water and the
overall reduction in PET resin prices.
The Group's manufacturing segment contributed RM52.1
million revenue for the quarter ended 31 August 2013 as compared to the revenue
of RM44.1 million recorded in the preceding year representing an 18%
increase. This is mainly attributable to
the overall increase in sales volume and average selling price due to an
increase in sales of big pack size products.
Currently trading at its historical mean PE of 10x , we
rate it a hold.
6) Market - With the US debt ceiling expected to be
resolved before the Oct 17 deadline, focus will shift to more domestic issues
such as the 2014 Budget to be held on Oct 25.