FBMKLCI
1867.35 +0.93pts (+0.05%)
Volume 2.233b Value 2.097b
1) The KLCI closed flattish despite the US market
recorded its 6th day winning streak today just before the release of initial
jobless claims data tonight. In the regional market, bourses were lower led by
HSI -0.98% despite China Flash
Manufacturing data coming inline with expectations; SHCOMP -0.26% & HSCEI
-1.25% closed lower. In the local market, profit taking continue to take a toll
on rotational stocks that have been outperforming the CI lately; such names as
SCOMI -2.19%, KNM -2.92%, TDM -3.67%. Market breadth was negative overall with
losers beating gainers by 469 : 395. Futures closed at 1862.5 (5 pts discount).
2) Heavyweights : PBBANK -0.49% RM20.28, SKPETRO -1.37% RM4.29,
FGV -1.95% RM4.51, MISC -1.52% RM6.48, MAXIS -0.71% RM6.91, YTL +7.14% RM1.65,
GENTING +0.82% RM9.73, DIGI +0.75% RM5.31
3) DBT : BJLAND 14.6mil @ RM0.80, UNISEM 5.6mil @ RM1.15,
PMHLDG 5mil @ RM0.13 (13.4% discount).
4) Situational:-
SEACERA +0.94% RM1.07 - SeaceraGroup Bhd's 60%-owned
subsidiary SPAZ Sdn Bhd had received a letter of award worth RM151.9m from
Malaysia Airports Holdings Bhd to design, construct, complete and commission
the Malaysia Airports Academy and other associated work at the KLIA in Sepang.
Construction works will commence in Apr 2014 and are expected to be completed
by Apr 2017.
5) BARAKAH : announced that its wholly-owned subsidiary
company, PBJV Group Sdn Bhd, in a 50:50 Consortium with CPM Construction Sdn
Bhd, has received a letter of award from PETRONAS Gas Berhad for the
procurement, construction and commissioning of Pengerang Pipeline. Work for the
Contract is expected to commence immediately and is scheduled to be completed
by Q2 2016. The value of the Contract is estimated at RM260 million; +ve,
the Contract is expected to contribute positively towards the earnings
of Barakah Group for the duration of the Contract. The contract win also shows
group's ability in securing new contracts. Last week, group announced a LOA
from GOM Resources Sdn Bhd for the provision of pre-commissioning services for
28" x 282km pipeline in Kerteh
Terengganu. It's Arab Saudi T&I contract's new submission date for the
retender will be in May-14. The award of this contract seems to be in Sep-14
with project commencement by CY15. Besides this major catalyst, we understand
that Barakah has been actively involved in bidding for new projects with its
current tender book of RM400m-RM600m.
6) Market: recent overbought winners with potential huge
volume indigestion are expected to see consolidation/correction as they
approach settlement days while attention are switched to other laggards.