Monday, May 19, 2014

Market Roundup | 16 May 2014


 

FBMKLCI   1883.34     +3.51pts    (+0.19%)     Volume  1.680b   Value 2.301b

 

 

 

1) The KLCI was catapulted into the green, closing at an all-time high during auction boosted by selected plantation heavyweights, namely IOICORP +1.72% & KLK +1.29%. This is despite the weaker US market overnight which slipped after investors continued to trim positions in small cap and tech stocks. In the regional market, sentiments were generally weaker as bourses consolidated, HSI -0.08%, SHCOMP +0.08% & STI -0.35% all closed flat while the NIKKEI closed -1.41% lowers. In the local scene, while the Index closed in record territory, profit taking continue to in the broader market with Industrial Index losing the most grounds today dragged lower by MAS -9.52%, LAFMSIA -1.28% MISC-0.30% and BAT -0.39%. Market breadth was negative with losers beating gainers by 420 : 341. Futures closed at 1880.5 (3points discount)

 

 

 

2) Heavyweights : PBBANK -0.60% RM19.84, DIGI -0.54% RM5.49, IOICORP +1.72%, PCHEM +1.18%, TM +1.57%, TENAGA +0.50% RM12.06, KLK +1.29% RM25.02, GENTING +0.61% RM9.86,

 

 

 

3) DBT :  PDZ 8mil @ RM0.1825, KINSTEL 5mil @ RM0.17, RPB 4mil @ RM0.42.

 

 

 

4) Situational:-

 

THHEAVY -2.06% RM0.95- THHEAVY has secured a contract for its floating production, storage and offloading vessel with Japan's JX Nippon Oil & Gas Exploration in a deal worth US$900m (RM2.9bn).  The FPSO will be deployed in early-2016 once the Layang (Sarawak) field starts production. The primary contract worth US$400m (RM1.29bn) will run for 7½ years, with an annual renewal option for the next 10 years. The extension option is said to be worth about RM1.61bn.

 

 

 

5) FIAAMA

 Fiamma Logistics Sdn Bhd a wholly-owned subsidiary entered into a Sale and Purchase Agreement with Binastra Land Sdn Bhd  for the acquisition of the acquisition of two 2 pieces of industrial land both situated in Mukim Kapar, Daerah Klang, Negeri Selangor measuring in aggregate approximately 25,415 square meters (6.28 acres/ 273,567 square feet), for a total purchase consideration of RM30.09m.

 

The Acquisition is to cater for the relocation and centralisation of Fiamma and its subsidiaries' logistic operations, with allowance for future expansion.

 

+ve as this allows the company to redesignate up to 3 acres from their existing warehouse in Bandar Manjalara for housing development.

 

6) Market - Rotational play to continue buoyed by the record setting KLCI fuelled by higher plantation stocks.