FBMKLCI
1871.66 +4.09pts (+0.22%)
Volume 1.376b Value 2.07b
1) The KLCI continued its 2nd winning streak closing at
its day high helped by gains in selective bluechips just before the release of
the US GDP and jobs data tonight. In the regional market, bourses were
generally optimistic as the rise in Hong kong's factory data as well as US
confidence overnight boosted sentiments; HSI +0.59%, SHCOMP +0.77%, NIKKEI
+0.24%, ASX +0.28% all closed in positive territory today. In the local market,
rotational stocks continue to be traded as the ACE market index +1.40%
outperformed the rest of the sector boosted by selected names such as, IRIS
+8.53% , INARI +4.85%, YTLE +2.47%, OCK +1.43%, SMRT +10.31%. Market breadth was
negative as losers trailed to gainers today by 349 : 394. Futures closed at
1868.5 (3pts discount).
2) Heavyweights : PBBANK +2.09% RM20.48, SIME +0.84%
RM9.55, PETDAG +3.46% RM24.50, CIMB +0.40% RM7.36, AXIATA -1.01% RM6.82, FGV
-2.20% RM4.44, PCHEM -0.88% RM6.73, PETGAS -0.73% RM24.46.
3) DBT : MAYBANK
12mil @ RM9.93, ELSOFT 7.517mil @ RM0.80 (4.15% PUC @ 5.9% discount), HOHUP
4.6mil @ RM1.4196 (1.74% PUC @ 4.3% premium).
4) Situational:-
EVERSENDAI (RM1.04) - Eversendai has secured a RM580mil
contract from Vahana Offshore (S) Pte Ltd to construct two units of GustoMSC
NG-2500X lift boats. The lift boats job, awarded via Eversendai's unit
Eversendai Offshore RMC FZE will be executed at Eversendai's fabrication yard
in RAK Maritime City, Ras Al Khaimah in the United Arab Emirates. The group
said the lift boat's primary operating capabilities will include a 300 tonnes
crane, accommodation for a minimum of 150 personnel and is propelled by its own
thrusters to a speed of 5 knots and Dynamic Positioning (DP-2).
5) NAIM
1Q Mar 2013
Tovetr +19.5% RM154m
Net RM95.8m EPS 40.4sen
Excl
assoc disposal gain, 12% above cons (f) RM110.5m The Group recorded improved
revenue of RM154 million for the quarter under review, as compared to RM129
million reported in the corresponding quarter of 2013. The increase was mainly
contributed by the construction segment, on account of higher progress of
existing construction projects.
At the same time, the Group profit before tax for the
current quarter increased by 98% from RM51.4 million in 2013 to RM101.9 million
in 2014, mainly due to substantial gain of RM61.7 million arising from disposal
of partial interests in an associate Dayang.
Property registered revenue of RM70.2 million, 2.5%
higher than the RM68.5 million achieved in the first quarter of 2013. At the
same time, the property profit also increased, from RM18.2 million in 2013 to
RM26.5 million in 2014. The increase was partly attributed to the contribution
from prior year sales as a result of increased progress of development works
and cost saving reported from substantially completed projects. The sales
performance continues to be sustained by solid market support in existing established
townships located in Miri which registered strong take-up rates.
The Construction segment recorded higher revenue of
RM75.7 million against RM49.5 million achieved in the same quarter in 2013. The
segment profit also increased from RM4.1 million in first quarter of 2013 to
RM6.0 million in current quarter. The increase was attributable to the higher
progress of existing on-going construction projects.
The order book currently stands above RM1 billion.
The estimated market value of the Group's investment in
Dayang, based on current shareholding of 30.93%, is approximately RM910 million
vs Naim's current market cap of RM926.5m, making it a cheaper entry into Dayang
and a cheap proxy for SCORE exposure. BUY