FBMKLCI
1778.88pts -23.69pts (-1.31%)
Volume 1.717b Value 2.743b
1) KLCI saw selling pressure today inline with the
regional markets which fell on concerns global economic recovery is faltering
and US Fed could further reduce quantitative easing measures in the upcoming
FOMC meeting tomorrow. Capital flight from emerging market saw EM currencies
depreciating to its recent lows with Ringgit Malaysia hitting its lowest since
May 2010. Index recoup some of its losses by midday before heavy selling
ensured market closed near day's low. Property-1.8% continued to underperform
with losses seen in UEMS-2.4%, HUAYANG-7.3%, and Matrix-3.3%. Market breadth was
negative with losers thumping gainers by 793 : 116. Futures closed at 1780.5 (2
pts premium).
2) Heavyweights:
TENAGA-4.18% RM11.00, MAYBANK-1.87% RM9.47, SKPETRO-3.55% RM4.35,
TM-4.17% RM5.28, PBBANK-0.63% RM19.02, GENM-2.54% RM4.22, MAXIS-1.57% RM6.89,
SIME-0.88% RM8.97
3) DBT: MAICA 39.285mil @ RM0.85 (30.14% PUC @ 29%
discount), SUNWAY 8mil @ RM2.67 (2.2% discount), UTOPIA 6.36mil @ RM0.09
4) Situational:-
MRCB+1.94% RM1.58: Share price rose after news reported
company is working on a REIT exercise and an announcement could be made soon.
This will reduce the company's gearing which currently stood at 1.7x.
Sumatec-1.64% RM0.30: Company top the volume list today after company said it
has undertaken initial extraction of crude oil at its Rakushechnoye oil and gas
field. Initial output is expected at 150 barrels per day. Trading was suspended
between 9.26am to 10.26am today.
5) MAHB
FYE DEC 2014
Tover +15.8% RM4.1bn Net
-1.5% RM389m 31.7sen
-13% (f) RM445m
Better topline numbers was mainly attributed to an
increase in the aeronautical revenue of 16.8% for the current financial year.
The improvement in aeronautical revenue was driven by higher passenger and
aircraft movements as well as the implementation of new Landing charges with an
increase of 9% in 2013 and the increase is effective 1 January 2012, 1 January
2013 and 1 January 2014 .
The net numbers however showed a marginal decline as the
increase in user fee, higher employee benefit expenses and depreciation and
amortisation.
Share of associate results shows a negative variance
primarily due no more share of profit recognised from GMR Male International
Airport Private Limited ended in Nov
2012(YTD December 2012: RM26.1 million).
The airports operated by the MAHB Group handled a record
number of 79.6 million passengers in 2013, 12.4 million more than 2012 or 18.4%
passenger growth.
For 2014 MAHB is confident of another robust passenger
growth of 9.7%, above the global estimates by the international bodies on the
assumption that the Malaysian GDP growth remains in the range of 5-5.5% and the
global economic environment and jet oil prices remain stable.
In addition, klia2 is expected to commence operations on
2 May 2014 and will contribute positively to MAHB Group's revenue, largely
fuelled by higher passenger movements and complemented by enhancements in
retail and commercial operations. However, klia2 is expected to incur higher
operating expenditure due to its much larger capacity to accommodate for future
growth in passenger and aircraft movements.
Remains best play for exposure to VMY 2014. Buy on
weakness.
6) Market - KLCI immediate support level achieved. Short
term movement will be dependant on the FOMC. Choppy trading to continue in this
holiday shortened week.