FBMKLCI
1818.93 +4.82pts (+0.27%)
Volume 1.520b Value 1.657b
1) The KLCI saw a pickup on volume in the later session
of the day to close higher just a day before the budget. The KLCI outperformed
the market once again despite the weaker US market that broke a 5 day winning streak after valuation almost
reached its 4 year high. In the regional market, SHCOMP-0.86% and HSI -0.71%
fell on more concerns of the market money rate hike that overshadowed the
upbeat manufacturing data (HSBC FLASH MANUFACTURING PMI AT 50.9) which expanded
to a 7 month high in October. In the local market, Plantation Index
outperforming the CI as it was supported by heavyweights FGV +2.47%, KULIM
+3.36%, IOICORP +0.37%, KLK +0.26%. Market breadth was negative with losers
beating gainers by 345 : 420. Futures closed 1826 (7pts premium)
2) Heavyweights: TENAGA+1.49% RM9.50, TM +1.94% RM5.25,
FGV +2.47% RM4.55, PETDAG +1.98% RM30.90, PBBANK +0.21% RM18.54, DIGI +0.61%
RM4.95, GENTING -0.95% RM10.38, SKPETRO -0.69% RM4.27.
3) DBT : IJM 11.7mil @ RM5.7968, AHB 5.063mil @ RM0.15
(10.519% PUC @ 16.6% discount), EDUSPEC 5mil @ RM0.1450 (14.8% discount).
4) Situational:-
PRTASCO +7.51% RM1.43 - Protasco Bhd has secured a
RM578.5m project to build 1,680 apartment units in Putrajaya under the
1Malaysia CIvil Servants Housing Programme (PPA1M). The company received its
letter of appointment from Putrajaya Corp (PPj) yesterday. The project will
expand the company's orderbook to about RM700m from RM110m. The construction is
expected to kick off early next year and is expected to be completed within 24
months and it will start to contribute to the group's earnings in the middle of
next year and the following year.
MRCB +0.68% RM1.47 - MRCB has been awarded a RM32.5m
contract by the Malacca government and Tenaga Nasional to install an overhead
transmission line. MRCB and its JV partner Ketara Teknik Sdn Bhd (KTSB) will
undertake the two-year work to build the 132KV line from Pantai Siring to Pulau
Besar.
5) DELEUM
Announced that
Turboservices Sdn. Bhd, a subsidiary of Deleum, had received a Letter of Award
from Petronas to provide aftermarket turbomachinery maintenance services for
Solar Turbines Incorporated's gas turbines in Malaysia.
This LOA provides a general framework for the
establishment of the Long Term Service
Agreements which shall be signed by Turboservices and the
respective users replacing the existing agreements.
The appointment of Turboservices is effective from 16
September 2013 and shall subsist for a primary period of seven years, with the
right of PETRONAS to grant an extension option of three years thereafter or
earlier termination of this appointment.
+ve but price has already performed very well and is now
likely to consolidate around the RM4.00 levels.
6) Market - Reaction from the KLSE in the run up to
tomorrow's Budget seem to indicate no major negative measures to be introduced.
If that should turn out to be true , then it is likely that the record setting
run that we are experiencing will continue with an immediate target of 1826pts.
