FBMKLCI
1863.69 +0.99pts (+0.05%)
Volume 1.123b Value 1.237b
1) The KLCI rose in the earlier session after Chinese
trade data as well as stronger US
employment data boosted the sentiments, the local index however retraced back
to the overnight level closing flat before the session ended. In the regional
market, bourses were generally more optimistic as HSI +0.73%, SHCOMP +0.03%,
NIKKEI +0.31% closed in territory just before the release of inflation data
tomorrow. In the local market, profit taking was seen across the board albeit a
lower than average volume today while the PLANTATION +0.43% index supported the
index pushing it into positive territory at the close. Market breadth was
generally negative with losers beating gainers by 401 : 321. Futures closed at
1867.5 (4 points premium)
2) Heavyweights : TENAGA +0.68% RM11.78, GENTING +0.60%
RM10.06, PPB +1.48% RM15.00, GENM +0.95% RM4.25, FGV +1.15% RM4.38, YTL -2.39%
RM1.63, SKPETRO -1.23% RM3.99, MAXIS -0.44% RM6.69.
3) DBT : TUNEINS
19.068mil @ RM 2.35 (2.53% PUC), BIOOSMO 10mil @ RM0.13 (2.14% PUC @ 16.2%
discount), RPB 6.25mil @ RM0.43
4) Situational:-
YINSON +0.58%
RM5.15 - Yinson has announced that its latest floating production storage and
off-loading vessel (FPSO), PTSC Lam Son, has produced its first oil ahead of
its original schedule. Lam Son project is a 49:51 joint venture between Yinson
and PetroVietnam Technical Services Corporation (PTSC), respectively, for the
provision and chartering of the FPSO with a total contract value of up to
USD737.3m (RM2.4b). This bareboat contract is for a period of even years with
an extension option of up to three years.
DESTINI +2.25% RM0.68 - Destini Bhd is planning to
acquire the balance 49% stake in Vanguard Composite Engineering Pte Ltd, a
boatmaker based in Singapore, from Ng Tuck Whye for RM26mil to be settled via
the issuance of 40 million new Destini shares at 65 sen each. Vanguard reported
a revenue of S$16.27mil (RM41.8mil) and after-tax profit of S$2.1mil (RM5.5mil)
for the year ended Dec 31, 2013.
5) PUBLIC BANK
Public who has announced a 1:10 rights issue @ RM13.80,
today released further details on the rights. Trading of the rights commence 24
June and cease 4 July. Trading of the new rights shares will commence 8 Aug.
On a separate note, PBB also announce the issuance of a
RM500m 10 yr subordinated Sukuk bond with a coupon rate of 4.75%/pa. RAM Rating
Services Berhad has assigned a final long-term rating of AA1.
+ ve on the capital raising issue front lifting capital
ratios to conform with requirements however the sector as a whole is currently
facing a challenging environment and as PBB has outperformed YTD + 7.2% we deem
this as an opportunity to sell into strength.
6) Market - Another dull week ahead after an uninspiring
results month. Expect the KLCI to remain range bound btw 1850-1880pts levels.
