FBMKLCI
1860.54 -8.54pts (-0.46%)
Volume 1.537b Value 1.386b
1) The KLCI fell for a 2nd day today inline with the
weaker US market after concerns over conflict in the Ukraine outweigh the
upbeat jobs data released in the US. In the regional market, HSI -1.28% led the
region lower after China Flash PMI data shrank for the fourth consecutive month
in a row (48.1 vs 48.3) just before the release of China trade data tomorrow;
SHCOMP +0.05% closed flattish. In the local scene, penny and 2nd liners trailed
once again as profit taking continue to take a toll on the overall broad
market, volume was relatively low today as the most active list was led by
names such as UTOPIA -7.69%, ASUPREM -20.69%, TALAMT -5.26%, DAYA 0.00% .
Market breadth was generally negative with losers towering over gainers by 691
: 170. Futures closed 1849pts (11pts discount).
2) Heavyweights : PBBANK -0.70% RM19.80, CIMB -0.94%
RM7.35, MAYBANK -0.70% RM9.81, SIME -0.52% RM9.44, HLBANK -1.71% RM13.74,
PETGAS -0.75% RM23.52, IHH -1.24% RM3.98, PCHEM -0.58% RM6.80.
3) DBT : PDZ 27.8mil @ RM0.185 (3.19% PUC @ 32% premium),
BIOOSMO 10mil @ RM0.16 (2.19% PUC), IVORY 7mil @ RM0.67 (1.57% PUC @ 6.3%
premium).
4) Situational:-
HOHUP -5.00% RM1.52 - Ho Hup Construction has been
uplifted from the PN17 designation by Bursa Malaysia Securities Bhd effective
today. The upliftment was due to the
group's full year net profit of RM27.7 million for the financial year ended Dec
31, 2013 and a first quarter net profit of RM11.3 million for financial year
2014. The company said the upliftment is
expected to put the group on a much stronger footing in its bid for
construction of infrastructure and development projects in Malaysia and the region.
Key catalyst for the group is the JV with Malton to develop Pavilion 2 on a
piece of 60 acre land of which the group owns which has a conservative market
value of RM550mil or 1.40 per share. BUY.
5) BENALEC
Benalec accepted
the Letter of Award dated 2 May 2014 from Oriental Boon Siew, a sub-subsidiary
of Oriental Holdings Berhad, to undertake the construction, completion &
maintenance of coastal reclamation and associated works for Ultra Green Sdn Bhd
for Phase 2A, Phase 3A, Phase 3B and Phase 4 in Melaka covering a total area of
approximately 415 acres. The contract sum for the Project, which excludes rock
revetment works, is RM203.9m The Project is scheduled to commence tentatively
in the 3rd quarter of 2014 and is expected to be completed by the 4th quarter
of 2016. +ve buy on weakness as we expect the company to secure more land
reclaimation contracts particularly in the Southeen part of Johor and Nothern
Penang
6) Market - current sell down in penny/trading stocks
after brokers tightened trading limits is set to continue as traders remain
cautious ahead of the next BNM policy meeting on May 8th where some are looking
for a start to higher rates.