FBMKLCI
1853.88 +2.38pts (+0.13%)
Volume 2.589b Value 2.507b
1) The KLCI traded within a tight 3 pts band in the red
throughout the day before closing in positive territory at the end of the
session after heavy weights PBBANK and TM boosted the CI. This is inline with
the US market which rebounded after retail sales in the country surpassed
expectations. In the regional market, SHCOMP -1.60% and HSI -1.40% both fell
after data showed that China's money supply grew at its slowest pace in more
than a decade and loan growth in the country slowed. In the local market,
PROPERTIES +0.94% index outperformed led by UEMS +3.50%, SUNWAY +2.31%, E&O
+3.25%. Market breadth was slightly negative as losers inched past gainers by
413 : 406. Futures closed at 1852 (1.5pts discount).
2) Heavyweights : TM +2.37% RM6.04, PBBANK +0.50%
RM19.78, SKPETRO +0.93% RM4.32, PPB +1.35% RM16.52, CIMB +0.27% RM7.40, TENAGA
-0.50% RM11.92, IOICORP -0.82% RM4.86, GENTING -0.41% RM9.59
3) DBT : CHINWEL 6.5mil @ RM1.45 (2.385% PUC), PDZ 5mil @
RM0.155, SEG 3.50mil @ 1.4786.
4) Situational:-
IRIS +2.06% RM0.495 - Iris Corp has entered into a
USD22.0m (MYR71.2m) JV agreement with Papua New Guinea-based Alvery Resources
Ltd for the development of agricultural
business. Iris corp said the JV was for the proposed development of 100,000ha
of land in Papua New Guinea for agricultural and business purposes including
but not limited to land clearing, logging, plantation and setting up of
factories for various agricultural commodities.
DIALOG +1.70% RM3.57 - Dialog announced yesterday that
its Phase 1A of the Pengerang Terminal has been successfully completed and has
commenced operations. Pengerang Terminal received its first shipment from a
reputable international oil trader on 12 April 2014.
5) BINAPURI :
announce that Bina Puri Construction Sdn.Bhd, a wholly-owned subsidiary,
has entered into the contract agreement with Blessed Builders Sdn. Bhd. and
Pangkalan Ikan Central Sdn. Bhd. ("PIC") to plan, design and build
the Fishery Complex in Kuching, Sarawak at contract value of RM247.84 million.
The commencement date will take effect after the financial close between PIC
and their financier has been determined. The duration of the project shall be
36 months. With this latest award, the Group's unbuilt OB stands at RM1.93 b ;
+ve, as will contribute to earnings post FY12/14. The management is confident
that they can further secure more projects in 2014. Contract win should cushion
the recent weakness in the stock price, brought about due to anticipated delay
in property launches after cooling measures in the property segment were
introduced and to expected earnings dilution arising from the additional 5.3%
of new shares issued via private placement.
6) Market : Rotational play is expected to continue into
the week, with focus now on the Property & Construction sectors. Support of
1827 pts in place.
