FBMKLCI
1862.93 +10.24pts (+0.55%)
Volume 2.608b Value 1.987b
1) The KLCI outperformed the regionals supported by
banking names MAYBANK +1.42%, PBBANK +0.79%, CIMB+1.48%. In the regional
market, NIKKEI -0.03% and SGX+0.06% closed flat while the SHCOMP -1.52% lost
grounds just before the release of PMI manufacturing data this week; HSI &
ASX will resume trading tomorrow. In the local market, penny names continue to
dominate the volume list with rotational of stocks seeing gains in ASIAPAC+9%,
L&G+5%, IVORY+7% and JAKS+6%. Market breadth was positive with gainers
outpacing losers by 523 : 326. Futures closed at 1861 (1 pt discount).
2) Heavyweights : MAYBANK +1.42% RM9.97, CIMB +1.48%
RM7.50, PBBANK +0.79% RM20.20, PETGAS +1.01% RM23.98, DIGI +0.95% RM 5.28, YTL
+1.97% RM1.55, MAXIS +0.86% RM6.97, GENM -1.41% RM4.19.
3) DBT : CAP 60mil @ RM0.35 (10% PUC), DESTINI 9mil @
RM0.35 (1.24% PUC, 44% discount), AEM 4.732mil @ RM0.20 (5.01% PUC @ 12.5%
discount).
4) Situational:-
PENERGY +3.93% RM6.64 - Share price rose with an uptick
in volume today after they reported to be close to bagging a risk service
contract from Petronas.
5)IJM : IJM Construction Sdn Bhd, a wholly-owned
subsidiary, has today accepted the Letter of Acceptance issued by DES Architect
on behalf of Damansara Uptown Retail Centre Sdn Bhd for the main building works
for the proposed commercial development in Damansara Utama, Petaling Jaya,
Selangor Darul Ehsan for a contract sum of RM396 million. The construction
period of the Project is 25 months. The Project comprises the building works of
a 5-storey shopping mall with 1 block of 2-storey office, 3 blocks of 1 or
2-storey commercial pods and a 21-storey hotel block on top of the shopping mall;
+ve, as this eases concern on IJM's ability to replenish it's dwindling OB
balance which we now estimate to stand at RM1.2b. Thus far into FY14, it has
only managed to secure 1 building job worth RM238m. Ahead,WCE remains the draw.
We expect the RM6bn WCE project to provide one of the largest private-sector
jobs this year. Risks of delays are diminishing and we expect a series of
positive developments in the coming months. IJM's order book could more than
double with the WCE project (70% share of work) and another job from Kuantan
Port's extension (RM3bn).
6) Market: the KLCI index is likely to grind towards the
recent high of 1869 with rotational play continuing on the lower liners with
recent market leaders seeing greater volatility with their increasingly
overbought positions.
