FBMKLCI
1834.74 -18.21pts (-0.98%)
Volume 1.310b Value 1.617b
1) The KLCI fell once again as profit taking continue to
take a toll on the index today, this is inline with the US market that saw
similar selling pressure that's linked to basic portfolio rebalancing as well
as profit taking by investors. In the regional market, bourses were generally
weaker due to negative sentiments following China's non-manufacturing data that
declined in December last year (54.6 actual vs 56.0 previously) ; HSI and
SHCOMP fell 2.24% and -1.24% respectively. In the local scene, SKPETRO -3.38%,
ASTRO-1.97%, PETDAG -1.87% were the biggest losers amongst the CI while
SIME -1.05%, PETGAS -0.92%, PPB -2.09%
were a few names that weighed the Industrial Index -0.91%. Market breadth was
negative with losers beating gainers by 412 : 348. Futures closed at 1836pts (1
pts premium).
2) Heavyweights: TENAGA -1.61% RM11.00, SKPETRO -3.38%
RM4.57, CIMB -1.44% RM7.51, PBBANK -0.94% RM18.90, GENTING -1.56% RM10.08, SIME
-1.05% RM9.39, AXIATA -0.87% RM6.80, DIGI -1.42% RM4.85.
3) DBT: BIOOSMO
20mil @ RM0.15 (5.628% PUC @ 21.1% discount), PASDEC 18.563mil @ RM0.30 (9.013%
PUC @ 32.6% discount), KINSTEL 18.50mil @ RM0.16 (1.763% PUC @ 3.22% premium).
4) Situational:-
SCOMIES +3.12% RM0.825 - Scomi Energy Services Bhd and
its Australian partner Octanex are said to be close to securing a contract from
Petroliam Nasional Bhd (Petronas) to develop a marginal oilfield off the coast
of Terengganu. The Ophir cluster was estimated to contain 5.1 million barrels
of recoverable oil. At current crude oil
price of about US$100 a barrel, this values the Ophir contract at US$510mil
(RM1.68bil). The cost of developing the
field is estimated to be anywhere between US$130mil and US$200mil, after taking
into account the required capital and operating expenditures for the project. It is believed that Petronas will announce the
winners for the third round of RSCs as early as this month.
5) MRCB
Its COO today acknowledged investors concerns over the
groups growing debt and indicated that there are plans to monetise assets in
the group and make MRCB more property focused again. It is studying the
possibility of REIT structure and also the disposal of non core assets such as
its 30% stake in DUKE. New property
projects in the pipeline such as the St Regis Hotel and Residences plus the Q
Sentral office tower with a RM1.27bn and RM1.23bn GDV respectively will further
add prominence to its stable of properties.
The company is also confident of a positive decision from
the Govt to begin toll collection on the EDL by next month. +ve Trading buy
with an immediate target of RM1.68
6) Market - Today's regional sell off triggered by the US
is likely to continue as investors find excuses to profit take after the hefty
gains in Dec. Expect the KLCI to trend lower to the immediate 1828pts levels
with firmer support at 1820pts.
