FBMKLCI
1829.11 +2.65pts (+0.15%)
Volume 2.403b Value 2.154b
1) The KLCI rose today after the US market rallied
overnight with the S&P closing at record high as tensions between Russia
and Ukraine eased. The regional market was mixed with NIKKEI +1.20% and ASX
+0.85% closing strong in positive territory while SHCOMP -0.89% and HSI -0.34%
declined ahead of the National Peoples Congress which starts today. In the
local scene sentiments were mixed with investors cautiously selective with stocks,
some of name which saw a healthy trading volume today were SCOMI +12.048%,
SCOMIES +4.95%, TDM +3.22%. Market breadth was positive at the end of the bell
with gainers beating losers by 466 : 323. Futures closed at 1830 pts (1point
premium)
2) Heavyweights: GENTING+1.50 RM10.12, PPB +2.76%
RM16.36, PBBANK +0.42% RM19.06, CIMB +0.56% RM7.08, MAYBANK +0.61% RM9.65, GENM
+0.93% RM4.32, AXIATA -0.60% RM6.54, TENAGA -0.33% RM11.96.
3) DBT: GASMSIA 10mil @ RM3.58 , TENAGA 6.04mil @
RM11.98, COMPUGT 5.9mil @ RM0.06
4) Situational:-
ECOWLD +2.84% RM4.57 - Share price rose today after the
group officially launched Two of the three residential towers of Eco World
Development Sdn Bhd's maiden development. The RM1.0b EcoSky have been fully
taken up since the launch in December. Eco World said in a statement that the
third tower, Clarita, would be launched this month. Set in an urban
resort-style environment, the all-encompassing development also includes modern
office spaces and over 100 retail outlets for shopping, dining and entertainment.
AIRPORT-0.95% RM8.33: Malaysia Airports Holdings Bhd
raised RM979.99mil from the placement of 124.05 million new shares after fixing
the share price at RM7.90 each. The Issue price was a discount of about 4.3% to
the five-day volume weighted average price of MAHB shares of RM8.2579 and a
discount of 5.7% to the closing price of RM8.38 on Monday.
5) KIM LUN
Entered into an Agreement of Sale with Bayu Melati Sdn
Bhd on the purchase of forty one, 99-year leasehold vacant detached lots on en
bloc basis at SEC U10, Shah Alam, for a
total cash consideration of RM28,987,432.00. The Subject Property with
collective land area of approximately 386,499 square feet is strategically
located next to Bukit Cherakah Forest Reserve and surrounded by established housing
development such as Bukit Jelutong, Sunway Kayangan, Sunway Alam Suria and
Cahaya SPK.
Kim Lun plans to build bungalows on the Property with
funds to finance the development likely to be from internally generated funds
and bank borrowings.
As the development potential has yet to be detailed or
finalised at this preliminary stage, the total development revenue/cost,
expected commencement and completion date or expected profits to be derived
cannot be readily ascertained.
+ve Trading at a PE of 8x which is a premium to the mid
cap property names space, we prefer Titijaya.
6) Market - Regional uncertainties ranging from China's
first corp bond default to ongoing tensions in the Ukraine should see market
volatility remain high with the KLCI in range bound territory of 1818-1835pts
levels.