FBMKLCI
1824.86 +2.96pts (+0.16%)
Volume 1.176b Value 1.809b
1) The KLCI opened lower after the US market declined for
a 4th straight day over the Fed tapering uncertainty; but quickly recovered to
trade in positive territory before closing +2.96pts. In the regional market,
major indices were negative as NIKKEI -1.50%, HSI -0.07%, SHCOMP -0.21%, ASX
-1.44% all fell on more profit taking all across the board. In the local scene,
Plantation index +1.50% outperformed boosted by heavyweight stocks such as
IOICORP +2.11%, BKAWAN +0.52%. Market breadth was negative with losers
outpacing gainers by 383 : 339. Futures closed 1819.5 (5pts discount).
2) Heavyweights: MAXIS +3.0% RM 7.21, IOICORP +2.11%
RM5.80, TENAGA +0.73% RM10.94, PBBANK +0.43% RM18.46, KLK +1.66% RM24.40,
MAYBANK -1.41% RM9.74, DIGI -1.23% RM4.80, IHH -1.98% RM3.96
3) DBT: DBHD 23.292 mil @ RM0.38 (7.529% PUC), KGB
4.636mil @ RM0.41 (2.885% PUC @ 25% discount), GBGAQRS 4mil @ RM1.21 (6.1%
premium).
4) Situational:-
BENALEC - 0.99% RM1.00 - Benalec Holdings Bhd's Datuk
Leaw Tua Choon and Datuk Leaw Ah Chye have quit as directors of the company
ahead of an EGM to remove them. The resignations took effect yesterday, Benalec
said in a stock exchange filing. The board has also called off the EGM
EKOVEST +1.48%
RM2.74 - Ekovest has been appointed as master contractor for the RM1.18bn phase
two of the Duta-Ulu Kelang Expressway Highway in Kuala Lumpur. It said on
Wednesday its 70% owned Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd (Kesturi)
had appointed it as the master contractor for the project. The contract is for
three years and it expected to be completed by end-2016. Ekovest said the job
scope included the design, supply, installation and maintenance of tolling or
other equipment for the phase two.
5)HIBISCUS: made 2 announcements today - a)announced that
the National Offshore Petroleum Titles Administrator (NOPTA) of Australia has
on 5 December 2013, awarded the VIC/P57 joint venture (comprising Hibiscus's
subsidiary, Carnarvon Hibiscus Pty Ltd (50.1%) and ASX-listed 3D Oil Limited ),
a Production Licence VIC/L31, over the West Seahorse oil field in the offshore
Gippsland Basin, Victoria, Australia. The Production Licence award provides
greater certainty to the West Seahorse project. A Final Investment Decision is
expected in the first half of 2014, with production targeted a year later. West
Seahorse is being developed by the VIC/P57 joint venture
b)announce that its jointly-controlled entity, Lime
Petroleum Norway AS (Lime Norway), has on 3 December 2013, signed an additional
agreement with North Energy ASA to acquire a 20% stake in a new licence, PL
509, in Norway. The transfer of the 20% stake is pending regulatory approval.
Lime Norway is a wholly-owned subsidiary of Lime Petroleum Plc, an entity
jointly controlled by Gulf Hibiscus Ltd, Schroder & Co Banque S.A. and Rex
Oil & Gas Ltd. North Energy is a qualified petroleum exploration company,
listed on the Oslo Stock Exchange, which holds participating interests in 22
production licenses in the Norwegian Continental Shelf ; +ve. The Co may suit
investors seeking to participate in the long term uptrend in oil prices, and
potential discovery of oil in the company's oil concessions. Given that the
SPAC's refund guarantee is no longer applicable, any meaningful returns for an
investor at this point would depend strongly on Co's ability to convert its
"resources" into "reserves".
6) Market: The tug of war from QE tapering induced
foreign selling against local funds buying support ahead of their book close
will continue to be evident.
