FBMKLCI 1826.46
+1.77pts (+0.10%) Volume
2.192b Value 2.172b
1) The KLCI
dipped in the morning inline with the weaker US market overnight but rebounded
to close in the green in the 2nd half after decisions were made to withdrawal
of Russian troops from Crimea, Ukraine made the headlines. The regional market
recovered led by HSI +0.70% which rebounded after closing in negative territory
yesterday; NIKKEI +0.47% and ASX +0.30% also gained as sentiments improved. In
the local scene, 2nd liners reversed yesterday's losses as names such as ALAM
+5.59%, THHEAVY +3.27%, MUHIBBAH +5.39%, PERDANA +2.07%, WASEONG +2.68% all
closed at their day high. Market breadth was positive with gainers outpacing
losers by 518 : 293. Futures closed at 1829 (2.5pts premium).
2) Heavyweights:
SIME +1.42% RM9.25, IOICORP +0.85% RM4.74, MISC +1.58% RM6.40, IHH +1.33% RM
3.75, GENM +0.94% RM4.28, KLK +0.93%
RM23.82, MAYBANK -0.62% RM9.62, CIMB -0.70% RM7.04.
3) DBT: COMPUGT
36.6mil @ RM0.05, PMHLDG 7.011mil @ RM0.08, IVORY 5.2mil @ RM0.60.
4) Situational:-
IRIS +10.47%
RM0.58 - Iris has entered into a memorandum of understanding with China's CPC
Handan Municipal Committee for an agro-economy integrated farming prototype in
Handan, China. The MOU for the replication and implementation of the Rimbunan
Kaseh project will be for a period of six months from the date of execution and
shall expire automatically subject to parties entering into an extension or entering
into a definitive agreement for the project whichever the sooner.
5) UMWOG
announced that UMW Petrodril (Malaysia) Sdn Bhd ("UPD") a wholly
indirect subsidiary of the Company, had and was successful in its bid for the
provision of a Hydraulic Workover Unit ("HWU") Rig for PETRONAS
Carigali Sdn Bhd ("PCSB")'s Workover Programme together with the
provision of an Accommodation Work Barge ("AWB") and a Portable Crane
valued at approximately RM148 million for an initial period of two years with
the option of an extension of one year. UPD is principally involved in the
provision of workover operations for the oil and gas industry; +ve, contract is
expected to contribute positively to the earnings and net assets of the Group
for the financial year ending 31 December 2014. With it's aggressive fleet
expansion, group is well positioned to ride on the high demand for jack-ups in
Malaysia and other markets in Southeast Asia & capitalize on the improving
fundamentals in drilling activities in SEA over the next 2 years. It also has
one of the stronger balance sheets to leverage on to meet the demand over the
next 6 years.
6)Market: With
the short term tensions eased in Ukraine today, expect a rebound in 2nd liners/mid caps which have
borne the brunt of the recent sell down. Trading buys, Perisai, ILB, Alam, Ho
Hup, MPHB Cap
