FBMKLCI
1817.15pts -8.49pts (-0.47%)
Volume 2.517b Value 2.082b
1) The KLCI broke its 6 day winning streak after the US
market closed on a weaker note overnight amid a few weaker earnings. In the
regional market, bourses were inline with the US as it corrected downwards
after the strong rally over the past week, HSI fell -0.54%, SHCOMP -0.55%,
NIKKEI -1.79% all closed in negative territory. In the local market, profit
taking was seen across the board especially after the index rose +2.8% in the
past 6 trading days. Some of the prominent names that saw heavy profit taking
were CIMB -1.39%, SILKHLD -3.54%, UMWOG -2.90%, KLK -2.89%, DIGI-1.94%. Market
breadth was negative with losers outpacing losers today by 483 : 318. Futures
closed at 1805.5 (12pts discount)
2) Heavyweights: CIMB -1.39% RM7.09, KLK -2.89% RM23.52,
DIGI -1.94% RM5.05, SIME -0.99% RM8.99, GENTING -1.17% RM10.06, PPB -2.02%
RM15.50, GENM -1.38% RM4.28, MISC +4.83% RM6.50.
3) DBT: WINSUN 7.5mil @ RM0.095 (2.27% PUC), CHHB 5mil @
1.50 (1.81% PUC @ 8.6% discount), LBS 3mil @ RM1.52, EKOVEST 2.188mil @ RM2.75,
CBIP 2mil @ RM3.46, PERDANA 3.2mil @ RM1.7012 (11.4% discount).
4) Situational:-
SCOMIES -2.22% RM0.88 - Scomi Energy Services has secured
an RM195m contract from PTTEP Siam Ltd and PTTEP International Ltd to provide
drilling fluids services for an onshore drilling campaign in Thailand. The
contract spans three years. Scomi Energy has clinched contracts worth more than
RM360m so far this year. Last month, the group secured contracts in Myanmar and
Indonesia worth RM90m and RM75m respectively.
5) MISC
FYE Dec 2013
Tover -1% RM8.97bn Net +127%
RM2.08bn EPS 46.7sen
Cons(f) RM1.33bn
The decline in group revenue was due to lower revenue in
Heavy Engineering gas projects in hand nearing completion. Additionally
Petroleum business recorded lower revenue from operating a smaller fleet and
could lay up a few vessels. However this was offset by hire charter rates for
LNG vessels and improved offshore biz from the full recognition of its two FSU
commissioned. This improvement led top higher op profits of RM1.55bn +2.3%. The
PBT jump is skewed by the share of profits from its joint ventures especially
Gumusut Kakap SemiFloating Production Ltd due to a one off gain from the
disposal through finance lease.
+ve overall Shipping biz continues to see a recovery.
Trading interest likely to continue with expectations of a restructuring of the
Group to streamline non core assets. HOLD
6) Market - Profit taking to continue with the KLCI
expected to trade range bound btw 1800-1830pts with interest still firmly on
mid caps.