FBMKLCI
1883.14 -3.57pts (-0.19%)
Volume 2.122b Value 2.215b
1) The KLCI saw lacklustre trading despite the stronger
US overnight as investors awaits key housing and jobs data tonight while Obama
expand sanctions against Russia on the same day causing an overhang in the
global market. In the regional market, sentiments were cautious as major
bourses were mostly negative today, SHCOMP -0.64%, HSI -0.01%, NIKKEI -0.06%.
In the local market, trades were mixed as the TECHNOLOGY +0.77% index rebounded
today after trailing for 3 days boosted by semiconductor players namely GTRONIC
+2.58%, MPI +2.11%, JCY +1.43%. Market breadth was neutral with gainers edging
past losers by 416: 411. Futures closed at 1880.5 (3points discount)
2) Heavyweights : TENAGA -1.28% RM12.30, CIMB -0.42%
RM6.97, ASTRO -2.68% RM3.26, DIGI -0.53% RM5.60, IOICORP -0.59% RM5.00, PPB
-1.22% RM14.52, KLK 0.00% RM23.96, BAT +2.79%
RM70.00.
3) DBT : QL 6mil @ RM3.40, TITIJYA 4mil @ RM2.63 (1.17%
PUC @ 6.1% discount), MEDAINC 3.9mil @ RM0.68.
4) Situational:-
TMAKMUR +55.2% RM1.94 - Plantations and property-based
Tanah Makmur Bhd (previously known as Kurnia Setia Bhd) made a firm debut on
Bursa Malaysia today, opening at RM1.60, which was a premium of 35 sen above
its offer price of RM1.25 and closing near its day high at RM1.94 with 68mil
shares traded in the market. The listing exercise involved the public issue of
52.14 million new shares and an offer for sale of 49.45 million existing
shares.
5) CMMT
6 Months Revenue +5.5% RM157.2m Net -4.7% RM143.1m EPS 8.06 sen
In line with consensus FY14 Net RM155.9m after adjusting
for revaluation gains of RM68.2m & better 2nd Half post asset enhancement
works.
The Group recorded gross revenue of RM157.2 million,
which was RM8.3 million or 5.5% higher than last year’s corresponding period.
The increase was mainly due to revenue generated from onselling of electricity
to tenants at The Mines as well as the full-period contribution from the newly
reconfigured units of Phase 1 asset enhancement works at East Coast Mall. The
Group also benefited from higher gross rental income on the back of higher
rental rates achieved from new and renewed leases, except for Sungei Wang Plaza
which was affected by the ongoing Mass Rapid Transit works.
Property operating expenses for the period was RM53.5
million, which was RM6.6 million or 14.1%higher than last year’s corresponding
period. The increase was mainly attributed to the adjustment in property
assessment fees, which impacted Gurney Plaza, East Coast Mall and CMMT’s
interest in Sungei Wang Plaza, as well as the hikes in electricity tariff and
renewable energy surcharge which impacted the CMMT portfolio. Other than the
spillover effect of the price adjustments, the overall property operating expenses
for the current period was higher mainly due to higher utility expenses as a
result of higher electricity consumption, higher administrative expenses and
reimbursable staff costs.
The net property income for the period was RM103.7
million which was 1.6% higher than last year’s corresponding period.
CMMT declare a DPU of 4.53 sen per unit for 1H 2014 to be
paid on 29 August 2014. The annualised DPU of 9.14 sen for 1H 2014 is 4.2%
higher than the 8.77 sen for the same period last year.
The DPU translates to an annualised distribution yield of
6.2% based on CMMT’s closing price of RM1.48 per unit which is 230 basis points
above 10-year MGS & in line with Malaysian Reits. Neutral
6)Market: Expect the recent range trading to continue
until the 2nd quater reporting season is upon us.