FBMKLCI
1836.55pts +4.00pts (+0.22%)
Volume 2.447b Value 2.679b
1) The KLCI rose today in tandem with the US market that
closed at record high yesterday after new Fed Chairman, Janet Yellen, reaffirms
the central bank's monetary policy stance. The regional market, SHCOMP +0.44%
rose higher before the National People's Congress next week; HSI however,
closed flat at +0.04%. In the local scene, ACE market index- 2.20% lost the
most grounds after recording gains thruout the week as profit taking sets in
dragged down by IRIS -4%, INFOTECH -11%, EDUSPEC-9%. Market breadth was
negative with losers beating gainers by 582 : 268. Futures closed at 1833.5
(3pts discount).
2) Heavyweights: MAYBANK +0.82% RM9.78, CIMB +0.84%
RM7.16, DIGI +1.17% RM5.15, TM +1.435 RM5.67, RHBCAP +3.01% RM8.20, PPB --2.68%
RM15.92, IOICORP -1.49% RM4.61, SIME -0.76% RM9.11.
3) DBT: SEG 15.34mil @ RM1.50 (2.29% PUC), NOMAD 3.3mil @
RM0.85 (1.47% PUC), DSONIC 2.5mil @ RM2.90 (24.1% discount).
4) Situational:-
MUDAJYA 5085 +4.47% RM2.80 - 1Malaysia Development Bhd
(1MDB) and partner Mitsui & Co Ltd have won a government tender to build a
RM11.7 billion power plant. The energy commission said today 1MDB beat YTL
Power International, state firm Tenaga Nasional and Malakoff Corp Bhd, an unit
of MMC Corp for the rights to build a
2,000 megawatt coal-fired power plant. Mudajya will be a good proxy to ride as
the civil works for the plant estimated to be worth RM1.7-2.2bn will
significantly boost Mudajaya's current
orderbook of RM1.2bn.
5) TITIJAYA
1H Dec 2013
Tover RM138.5m Net
RM32.8m EPS 9.6sen
Cons(f) RM87.6m
The Group achieved revenue of RM71.78 million and
recorded a profit after taxation of RM15.60 million for the 2Q quarter.
The revenue for the current quarter and current financial
year-to-date was mainly derived from our property development activities which
contributed approximately 93.11% and 91.53% of our total revenue respectively.
Sales of completed properties contributed approximately 6.45% and 8.03% for the
current quarter and current financial year-to-date respectively while rental
income contributed approximately 0.44% for both current quarter and current
financial year-to-date respectively.
Visibility of the future income stream of the company
remains clear with a GDV outstanding of approximately RM4bn lasting them till
2021. With minimal gearing on its balance sheet the company is in a strong
position to land bank further for future developments. Trading at only 6.9x PE
with bright growth prospects we continue to recommend an accumulation on this
niche property player.
6) Market - Further consolidation seen in the market
especially in mid caps after the strong run YTD with the KLCI range bound.