FBMKLCI
1862.80 -6.42pts (-0.34%)
Volume 1.440b Value 1.732b
1) The KLCI opened the week on a lower note due to a
technical correction despite the stronger US market over the weekend last
Friday. In the regional market, bourses were generally better led by the NIKKEI
+0.97% which recorded its 4th winning streak today; the SHCOMP +0.34% also edged closer to its 2 week high
amid speculation that policy makers will implement further stimulus to bolster
economic growth. In the local scene, lack of fresh catalyst continue to
suppress sentiments across the board as heavyweights led in losses amongst the
index; namely IOICORP -1.98%, MAXIS -3.47%, SIME-1.03%. Market breadth was
negative with losers beating gainers by 272 : 520. Futures closed at 1864
(1.5pts premium).
2) Heavyweights : MAXIS -3.47% RM, IOICORP -1.98% RM4.95,
SIME -1.03% RM9.53, PPB -1.98% RM15.78, AXIATA -0.43% RM6.89, TM +1.61% RM6.31,
DIGI +0.92% RM5.45, PETGAS +0.65% RM 24.50.
3) DBT : YTLP
16mil @ RM1.53, MAYBANK 12mil @ RM9.90,
DESTINI 10.633mil @ RM0.63, EKOVEST 1mil @ RM2.86
4) Situational:-
ARMADA -4.10% RM3.74 - Bumi Armada proposed a bonus
1-for-2 basis and rights issue last week, which would raise an estimated gross
proceeds of RM2.25 billion. Of the total
RM1.76 billion capital expenditure, 80 per cent will be used to fund a new FPSO
project and the remainder for new OSV and T&I assets.
5) UZMA
1Q Apr 2014 Tover
+10% RM97.7m Net -6% RM8.4m EPS 6.38sen
27% below
cons(f) RM45.6m
The Group's revenue registered an increase of RM8.8
million or 9.9% YOY. The Group reported a marginal decrease in profit before
taxation of RM0.1 million or 1.0% in the current quarter YOY mainly contributed
by higher gross profit and share of profit of investments accounted for using
the equity method, offset by higher administrative expenses.
Earning however will be under pinned by its M&A
activity highlighted by the recent announcement of acquiring MMSV, the owner of
7 Hydraulic workover units which will enhance its position as a comprehensive
EOR player.
Accumulate on weakness.
6) Market - Lack of any positive lead will see the KLCI
continue to consolidate with profit taking in recent out performing mid/small
cap names.
