FBMKLCI
1868.64 -4.33pts (-0.23%)
Volume 2.404b Value 2.141b
1) The KLCI slipped for a 4th consecutive day closing
just above the 100 day SMA despite the stronger US market over the weekend.
This is inline with the regionals where bourses were lacklustre with HSI -0.29%
and SHCOMP -0.22% both closed in negative territory just before the release of
the HSBC flash PMI data for July this week. In the local market, PENNY stocks
hogged the spotlight today as we saw active trading on selected counters
namely, SUMATEC -1.17%, MAS -0.00%, SONA +3.73%, THHEAVY +12.88%, IFCAMSC
+19.44%, SCOMI +1.28%. Market breadth was skewed towards the negative with
losers beating gainers by 451 : 400. Futures closed at 1866pts (2.6 pts
discount).
2) Heavyweights : MISC -3.48% RM6.38, PETGAS -1.59%
RM23.40, IHH -2.09% RM4.67, PETDAG -3.57% RM19.98, PCHEM -0.89% RM6.66, PBBANK
+0.50% RM20.12, ASTRO +4.01% RM3.37, GENM +1.42% RM4.26.
3) DBT : KRETAM 19.920mil @ RM0.50 (1.06% PUC @ 12.3%
discount), SUNZEN 3mil @ RM0.26 (2.00% PUC @ 23.5% discount), TITIJYA 1.15mil @
RM2.63 (0.325% PUC @ 1.9% discount), YINSON 220k @ RM2.90.
4) Situational:-
SONA +3.73% RM0.555 - Sona Petroleum Bhd is expected to
sign the sale and purchase agreement to acquire a 66.7% stake in Salamander
Energy (Bualuang) Ltd (SEBG) for USD280.0m (RM893.0m) by the end of the month.
The acquisition will be a significant milestone for Sona as it takes its first
step in becoming an independent upstream oil and gas company. The acquisition
of shares in SEBG will result in Sona owning an effective working interest of
40.0% in two O&G blocks close to the Bualuang field.
5)GADANG : announced that the it's indirect wholly-owned
subsidiary, Asian Utilities Pte Ltd, had on 21 July 2014 entered into a Sale
and Purchase of Shares Agreement with 3 individuals for the proposed
acquisition of 70% of PT. Dewata Bangun Tirta ("DBT") for a
consideration of IDR 55b (equivalent to cRM15.07m). DBT is the holder of a 200
litres per second water treatment and supply concession in Kabupaten Gresik,
Jawa Timur based on the Build, Operate, Transfer Cooperation Agreement dated 25
May 2012. Pursuant to the Concession Agreement, DBT has been granted the rights
to sell bulk treated water to PDAM on a Take or Pay basis for a period of 25
years from the effective commencement date; +ve, the proposed acquisition is
part of Gadang Group's plan to expand its treated water supply and concession
in Indonesia in particular in Kabupaten Gresik.
6) Market: Expect trading to remain choppy &
cautious,on the back of escalating geopolitical tension in the Middle East and
Ukraine, and the local interest rate hike. Immediate technical support at 1860
pts.
