FBMKLCI
1869.00 +3.80pts (+0.20%)
Volume 1.494b Value 1.867b
1) The KLCI rebounded today following the better US
market overnight and before the ECB decision on stimulus tonight. In the
regional market, bourses were mixed as HSI -0.18% closed in negative territory
weighed down by property developers, the SHCOMP +0.79% however closed in
positive territory after its valuation fell to its lowest valuation relative to
the ETF emerging market index. In the local market, the INDUSTRIAL +0.69% index
was the outstanding winner gaining the most grounds today boosted by PETGAS
+1.99%, PCHEM +0.44%, KNM +5.96%. Market breadth was skewed towards the
positive as gainers edged losers by 380 : 361. Futures closed at 1867 (2points
discount)
2) Heavyweights : YTL +5.59% RM1.70, PETGAS +1.99%
RM24.54, GENTING +1.72% RM10.00, PCHEM +0.44% RM6.79, TENAGA -0.66% RM11.90,
PPB -2.18% RM15.20, KLK -0.99% RM24.00, RHBCAP -1.90% RM8.22.
3) DBT : PANTECH
10mil @ RM1.00 (1.74% PUC), TAMBUN 5.12mil @ RM2.0278 (1.26% PUC), EDUSPEC
2.55mil @ RM0.12 (46.7% discount).
4) Situational:-
SONA -5.04% RM0.565 - Sona Petroleum is planning to buy a
40% stake in a producing oil and gas field offshore of Thailand from UK-listed
Salamander Energy Plc for US$280mil (RM903.64mil). The group had signed a heads
of agreement with Salamander for the purchase of the stake in the latter's unit
Salamander Energy in Thailand which currently holds working interests in the
B8/38 concession, containing the producing Bualuang Field, and in the
surrounding G4/50 exploration concession, both in the Gulf of Thailand.
5) Mah Sing 's wholly-owned subsidiary, Sanjung Tropika
Development Sdn Bhd, proposed acquisition of 31 parcels of adjoining freehold
land with total net land area measuring approximately 1,351.84 acres all in
Tempat of LKTP Cahaya Baru, Mukim of Plentong, District of Johor Bahru from
Bistari Land Sdn Bhd for a total cash consideration of RM401.164m has become
unconditional as the Estate Land Board had via its letter dated 4 June 2014
approved the appeal application by the Vendor for the disposal of all the parcels
of land to Mah Sing's wholly-owned subsidiary. In addition, Mah Sing has
informed the Vendor, today, of its satisfaction with the result of the due
diligence on matters in connection with the land and it will proceed with the
completion of the sale and purchase of all the said parcels of land except for
Land 3 where the sale & purchase agreement (SPA) will only be completed
when the new title is issued in accordance to the provisions of the SPA.
+ve on the completion (after the disputes since October
2013) of this strategic landbanking exercise where Mah Sing may start launching
the 1st phase of an estimated RM5bn GDV over 7 years mass township development
project. These parcels of land are incidentally next to Eco World Development
Group's development where it is trying to reposition its development as the
township of choice in East Iskandar.
6) Market: with announcement of potential changes in
monetary policy from the ECB tonight and the US jobs data due tomorrow, markets
are likely to be treading water going into the weekend.
