FBMKLCI
1843.85 +1.98pts (+0.11%)
Volume 1.398b Value 2.012b
1) The KLCI rose for the 2nd day, recording yet another
all-time high (1846.92 +5.05pts) before closing just 1.9pts above parity after
the US market closed in positive territory yesterday amid budget talks. In the
regional market, bourses were trading in the red as investors digested the
mixed economic data of China (IPI 10% vs 10.1% cons ; Retail sales 13.7% vs
13.3% cons) as SHCOMP- 0.03% & HSI -0.28% closed lower;. In the local scene,
oil & gas names were actively traded today with UMWOG +16.37% leading in
the pack, SKPETRO +0.22% , ALAM +2.63%, BARAKAH +7.14%, THHEAVY +6.74%, DAYANG
+2.20% were all higher. Market breadth was positive with gainers edging passed
losers by 391 : 375. Futures closed 1841.5 (2 pts discount).
2) Heavyweights: TM +2.37% RM5.60, PCHEM +1.44% RM7.00,
KLK +1.83% RM24.36, MAYBANK +0.50% RM10.00, PPB +2.26% RM15.38, PETGAS -3.84%
RM22.50, IOICORP -1.16% RM5.93, GENTING -1.09% RM9.95
3) DBT: BJLAND 44.891mil @ RM0.75 (9.1% discount),
DESTINI 15.555mil @ RM0.37 (3.153% PUC @ 19.6% discount), SUMATEC 10mil @
RM0.275 (6.8% discount), EKOVEST 2mil @ RM2.75 (5% discount)
4) Situational:-
PUNCAK+3.32% RM3.42 - Puncak Niaga Holdings Bhd is
planning to seek international arbitration for the takeover of its water assets
due to a deadlock in the negotiations with the Selangor government. An
executive of Puncak Niaga said the company was looking at arbitration as it
could not agree on the latest offer by the Selangor government and was doubtful
if the state would come back with an improved offer.
5) MAHSING :announced that Legend Development Sdn Bhd, a
wholly owned subsidiary of Mah Sing, had on 10 December 2013, entered into 4
separate SPAs with several vendors for the proposed acquisition of 20 pieces of
prime freehold contiguous land in Jawi, Penang measuring c76.38 acres for a
total cash consideration of RM42.6m (cRM12.80 psf). With the Proposed
Acquisition, the Group now has remaining lands in Penang worth cRM3.8 billion
in combined GDV and unbilled sales, representing c13% of the Group's total GDV
and unbilled sales of RM28.78 billion.The group intends to fund the Proposed
Acquisition and the development cost of the Lands through a combination of the
proceeds from the rights issue with warrants and/or internal generated funds
and/or bank borrowings. The Proposed Acquisition is timely and in line with the
Group's strategy to continuously scale up development in locations with strong
growth potential; Neutral, we believe that there will be limited catalysts from
the property sector in the short term, given the tight property tightening
measures introduced in the recent budget announcement. However, we forsee that
Mah Sing's strategy to focus on township developments would ensure decent
take-ups and smooth earnings delivery going forward- HOLD
6) Market: Window dressing activities on blue chips
showing early signs of spilling over to second liners especially those from the
O&G sector.