FBMKLCI
1824.69 -10.97pts (-0.60%)
Volume 2.104b Value 2.052b
1) The KLCI fell as much as 20pts in the early morning
but managed to close just -10.97pts after escalating conflict in the Ukraine
overshadowed the global market. In the regional market, NIKKEI and HSI
fell -1.27% & 1.47% respectively,
inline with the negative sentiments as most of the Europe currencies fell. In
the local market, selected O&G names fell sharply led by SILK-11%,
DAYA-10%, SCOMI-3.6% and SONA-7%. Market breadth was negative with losers
thumping gainers by 672 : 222. Futures closed at 1814 (10 pts discount).
2) Heavyweights: MAYBANK -1.02% RM9.68, CIMB -0.97%
RM7.09, GENM -2.52% RM4.24, PBBANK -0.52% RM18.98, PETGAS -1.35% RM23.28, IHH
-2.34% RM3.75, GENTING -1.08% RM9.99,
IOICORP +1.95% RM4.70.
3) DBT: SEG 24.658mil @ RM1.52 (3.68% PUC), MYEG 8.5mil @
RM2.85 (1.41% PUC), HOHUP 5mil @ RM1.40 (2.63% PUC)
4) Situational:-
CUSCAPI -3.75% RM0.385 - Cuscapi Bhd is in advanced talks
to acquire a China-based technology solutions provider which, if successful,
will see the group double its revenue contribution from the country to 50% of
total revenue by end-2015 from 20% to 25% last year. "It is still in the
process. But this is very much a faster strategy for us to grow into a larger
entity in China than relying on organic growth alone," Cuscapi CEO and
major shareholder Her Chor Siong told. He expects the deal to be concluded
within the next two months.
ECOWLD -0.85% RM4.62 - Eco World Development Bhd will
unveil its new development masterplan for the Kota Masai township in Pasir
Gudang within the next three to six months. The project would cover 401.04ha of
remaining undeveloped land of the 1,005.23ha township that would keep the
company busy for the next six to eight year.
5) PTARAS : announce that it's wholly-owned subsidiary,
Pintaras Geotechnics Sdn. Bhd. had on 3rd March 2014, received a Letter of
Acceptance dated 17th February 2014 from Pembinaan Mitrajaya Sdn. Bhd. to
undertake bored piling works for a proposed office building project at the
Federal Government Administrative Centre, Putrajaya. The said works is to
commence on 10th March 2014 with a completion period of 6 months. The contract
is valued at about RM24 million ; +ve, said contract is expected to contribute
positively to PJB Group's future earnings. We like Pintaras as it offers
exposure to the piling sub-sector in Malaysia, whose strong prospects are
backed by the Klang Valley MRT project, a proliferation of high-rise
developments, and the chronic shortage of piling capacity in the market, which
will boost piling rates. The industry outlook remains bright. The piling
sub-sector is strongly backed by the MYR73bn Klang Valley MRT project which
will keep the entire value chain of the construction sector (including piling)
busy until 2019 - Accumulate.
6) Market: direction of markets in the immediate term
will be determined by how events in Ukraine unfold.
