FBMKLCI
1851.33 -1.13pts (-0.06%)
Volume 2.022b Value 2.05b
1) KLCI closed marginally lower inline with the cautious
sentiment globally as concerns tension in Ukraine could escalate further while
Dow was sharply lower last week. Regionals were mixed with HK and China up on
optimism China will cut lenders reserve requirement while ASX-1.2% led by
mining and the banking sector. Locally, index were rangebound with slight
recovery at close after TENAGA, PCHEM and DIGI were push up at close. Market
breadth was negative with losers edging gainers by 454 : 396. Futures closed at
1848 ( 3pts discount).
2) Heavyweights : AXIATA-1.05% RM6.59, SKPETRO-1.6%
RM4.28, MISC-1.47% RM6.70, CIMB-0.27% RM7.38, TENAGA+0.67% RM11.98, PCHEM+0.4%
RM6.79, DIGI+0.57% RM5.28
3) DBT : TAMBUN 15m @ RM1.92 (3.79% PUC), MEGB 4.1m @
RM1.10 (1% PUC, 165% premium), 3.96m @
0.24 , MAICA 2m @ RM1.50
4) Situational:-
E&O+9.3% RM2.46: Tanjung Pinang Development Sdn Bhd
(TPD), a subsidiary of E&O, had on 11 April 2014 received the conditional
approval letter dated 10 April 2014 from the Department of Environment,
Ministry of Natural Resources and Environment (DOE) for the Detailed
Environment Impact Assessment study and conceptual masterplan submitted by TPD
for the proposed reclamation of Phase 2 of Seri Tanjung Pinang at Tanjung
Tokong, Penang.
SUPERMX-1.6% RM2.51, KOSSAN-1.8% RM4.19: Glove companies
fell after Gas Malaysia Berhad in an announcement to Bursa Malaysia informed
that the Government has approved the natural gas tariff revision for non-power
sector in Peninsular Malaysia with effect from 1 May 2014 by an average of 19%.
5) BARAKAH :
announced that its wholly-owned subsidiary company, PBJV Group Sdn Bhd,
has received a letter of award from GOM Resources Sdn Bhd for the provision of
pre-commissioning services for 28" x 282km pipeline from onshore Kerteh
Terengganu towards the border of Malaysia/Thailand Joint Development Area. Work
for the Contract is expected to commence Q3/2014 and is expected to be
completed by Q1/ 2015; +ve, although no contract value was specified. The
Contract is expected to contribute positively towards the earnings of the
Barakah Group for the duration of the Contract. The catalyst for the group
remains it's maiden venture in Saudi Arabia. The outcome of Saudi Aramco's
US$1b contract (comprising T&I, hook-up commissioning (HUC) and pipeline
commissioning works) is expected to be known in 1Q14. Barakah and its JV
partner are competing with another two contenders. There is a fair chance for
Barakah to win the contract, given its extensive experience in commissioning
jobs and as the recent win in HUC and T&I contracts indicates Barakah's competency
in getting contracts with significant value.
6) Market: Barring external factors, market is expected
to continue with its rotational play while index stocks consolidate.
