FBMKLCI
1852.31 -10.59pts (-0.57%)
Volume 1.894b Value 2.087b
1) The KLCI slipped today amidst profit taking dragged by
banking heavyweights, PBBANK -1.87% and CIMB -0.80% which surged these recent
weeks. The market sentiments overnight were negative attributed to the renewed
tension in the Ukraine as well as the weaker US market which fell yet another
1% just before the beginning of its earnings reporting season . In the regional
market however, bourses were stronger as HSI +0.98% gained boosted by Banking
stocks which pushed the HSCEI +1.62% to a 2 1/2 month high on stimulus hopes;
SHCOMP closed +1.92% higher. In the local market, profit taking dominated the
market as CONSTRUCTION index -0.94% reversed yesterday's gains dragged lower by
GAMUDA -3.68%, MRCB -2.43%, BENALEC -1.64%. Market breadth was negative with
losers beating gainers by 424 : 389. Futures closed at 1853 (1 pt premium).
2) Heavyweights : BURSA+1.1% RM7.61, TNB +1% RM11.0,
IOICORP+0.8% RM4.84, BSTEAD+1.1% RM5.49, DIGI-1.7% RM5.26, PBBANK-1.9% RM19.90,
ASTRO -1.5% RM2.37, GAMUDA-3.7% RM4.45.
3) DBT: DESTINI 52m @ RM0.35 ( 7% PUC, 40% disc to
close), EDUSPEC-WA 20m @ RM0.11, KGB 5.5m @ RM0.58.( 3.4% PUC).
4) Situational:-
PTARAS +32.16% RM3.26 - Pintaras Jaya Bhd's wholly-owned
unit, Pintaras Geotechnics Sdn Bhd, has received a letter of acceptance from
Enchanting Heights Sdn Bhd to undertake piling and pile cap works for a
proposed mixed development in Kuala Lumpur for MYR71.0m. The company mentioned
that the works were expected to commence next month and would be complete in 16
months.
5) HOVID : announced that the group together with the
other existing shareholders of Biodeal Pharmaceuticals Private Limited
("BPPL") have on 8 April 2014 entered into a Share Purchase Agreement
with Mr Anurag Kumar, Nri and Mr Subodh Prasad Singh ("the
Purchasers") and BPPL for the sale of the entire share capital of
25,000,000 Equity Shares of Indian Rupees 10 each and the control and
management of BPPL to the Purchasers, at a consideration of Rs.300m; Slightly
+ve. Hovid Group expect to record a consolidated gain of cRM968,000 from the Disposal. The Sale
Consideration is intended to be utilized by Hovid for working capital
requirement. The Disposal is to streamline the Group's operations to
concentrate on core profitable operations while divesting those that do not
contribute significantly to the Group's operations and financial results.
6) Market: The market is expected to remain choppy with
sentiment impacted by external factors in Ukraine & the US. Support level
at 1825 pts still n tact.