FBMKLCI
1864.25 -9.13pts (-0.49%)
Volume 1.331b Value 1.953b
1) The KLCI slipped today closing just above the neckline
support of 1863pts today as despite the US market closing at record levels on
Friday. In the regional market, bourses were also stronger after the NIKKEI
+2.07%, SET +1.50%, JCI +0.22% and ASX +0.47% all closed in the positive
territory while the HSI, HSCEI and SHCOMP closed for a public holiday. In the
local market, the financial Index -0.83% was the biggest loser amongst the
sectors today weighed down by selective heavyweights, namely PBBANK -2.13%,
CIMB -1.63%, MAYBANK -0.40%. Market breadth was negative with losers outpacing
gainers by 515 : 297. Futures closed at 1867 (3points discount)
2) Heavyweights : PBBANK -2.13% RM21.14, AXIATA -0.14%
RM6.80, CIMB -1.63% RM 7.200, PETGAS -2.77% RM23.82, PETDAG -3.01% RM24.48,
GENTING +1.74% RM9.90, GENM +3.68% RM4.22, FGV +2.35% RM4.34.
3) DBT : PMHLDG
5mil @ RM0.14, TANCO 2mil @ RM0.20 (29% premium), YONGTAI 1.98mil @ RM1.00
(4.936% PUC @ 2% discount).
4) Situational:-
TENAGA 0.00% RM12.06 /YTLP -0.66% RM1.50 - The Energy
Commission (EC) has offered a conditional award for the development of a new
power plant in Johor to a consortium that is made up of all three prominent
bidders of the project. The power plant to be build in Pasir Gudang, which is a
fast-track development known as project 4A, was awarded by the EC to SIPP
Energy Sdn Bhd, with participation of YTL Power International Bhd and Tenaga
Nasional Bhd as consortium members. The development of the proposed
combined-cycle power plant (CCGT) with a capacity of 1,000-1,400 MW is on
condition that the technical and commercial proposal are acceptable to the EC.
5)PROTASCO
Its wholly owned subsidiary, HCM Engineering Sdn Bhd, had
been awarded by the Public Works Department to undertake maintenance works on
Federal Roads in Zone 2A, Sarawak, Malaysia for a total contract sum of RM21
million. The award encompasses construction of overtaking lanes from Sibu to
Bintulu and from Bintulu to Tatau.
+ve Continues to be the best priced proxy for exposure to
pulic infrastructure spending with strong balance sheet, reasonable valuation
and decent yield of 5%.
6) Market - Banks, one of the largest components of the
KLCI could continue to be under selling pressure after the weak industry loan
data. Immediate support at 1850pts levels.