FBMKLCI
1877.03 -4.13pts (-0.22%)
Volume 1.878b Value 1.951b
1) The KLCI fell for a 2nd day running, touching a low of
1874.14 (-7.02pts) on continued profit taking of core blues which took negative
lead from Wall Street overnight. In the regional market, bourses were mixed
with the NIKKEI -0.28% closing lower after Japan's Central Bank delays its
stimulus plans; HSI +0.01% closed flat while the SHCOMP +0.84% closed higher
helped by coal stocks due to the government's plan to establish national
markets for coal trading. In the local scene, profit taking was most evident in
the Finance Index -0.34% weighed down by MAYBANK -0.70%, PBBANK-0.50%, and CIMB
-0.27%. Market breadth was negative with losers beating gainers by 502:293.
Futures closed at 1877.00 (parity).
2) Heavyweights : PETDAG -4.82% RM23.70, MAYBANK -0.70%
RM9.90, PBBANK-0.5% RM19.76, TNB -0.65% RM12.20, SIME-0.4% RM9.65, YTL +4.12%
RM1.77, PETGAS +0.58% RM24.18, GENTING +0.51% RM9.81.
3) DBT : IDMENSN
52.16mil @ RM0.147 (15.08% PUC @ 18.3% discount), BIOOSMO 10.8mil @ RM0.165
(2.37% PUC @ 6.45% premium), KRETAM 6.5mil @ RM0.60
4) Situational:-
UZMA +1.19% RM5.97 - UZMA has proposed to acquire 100%
equity shareholding of MMSVS Group Holdings Limited, a O&G player in
Thailand involved in the provision of services in relation to the repair and
maintenance of exploratory and production wells using hydraulic workover units
(HWU). The purchase consideration of USD29.7m (RM95.34m) includes 7 modern HWUs
and 1 Truck Mounted Service Rig that can work both onshore and offshore.
5) KLK
1H 03/14 Tover +19% RM5.43bn Net +29% RM607.3m EPS 57sen
In line with
cons(f) RM1.21bn Plantations profit had increased by 17.7% to RM545.2 million
which was largely attributed to the favourable selling prices of CPO and PK
despite lower crop production of both FFB and rubber. CPO prices achieved in the 1H RM2,392/mt
+5.3%.
Manufacturing sector reported a sharp rise of 49.8% in
its profit to RM217.7 million. Revenue was up 21.0% at RM2.763 billion due to
higher sales volume and increase in selling prices which were in line with
higher raw materials prices. The oleochemical division contributed a 44.8%
increase in profit to RM210.8 million and the other manufacturing units brought
in a profit of RM6.9 million. Strong performance of the oleochemical division
was achieved through higher sales volume largely contributed by fatty acids and
specialties products, favourable fatty alcohol business and improved
contributions from the European operations.
Properties sector's profit fell 40.4% to RM21.6 million
on the back of a much lower revenue of RM48.9 million as recognition of profits
from the development project in Bandar Seri Coalfields, Sungai Buloh had
declined.
On exceptional items, the Group had accounted for a gain
of RM15.8 million which was derived from the excess of net assets over the
acquisition cost (negative goodwill) of Liberian Palm Developments Ltd.
Fairly valued at 22x PE with limited FFB growth prospects
in the near future.
6) Market - consolidation across the board is expected to
continue with the KLCI ranging between 1855-1880pts levels