FBMKLCI
1871.36 +2.72pts (+0.15%)
Volume 2.569b Value 2.070b
1) The KLCI rebounded today breaking a 4 day losing
streak as index recovered inline with the regional bourses which generally rose
as on-going cease-fire talks between GAZA and ISRAEL boosted global sentiments
with HSI +1.69% , SHCOMP +1.02%, NIKKEI +0.84%, HSCEI +2.04% all closed in
positive territory. In the local scene, appetite shifted towards the riskier
assets with penny and ace market stocks hogging the active list as MAS +15.00%,
TALAMT +9.09%, PDZ +13.33%, AAX +7.23%, IRIS +3.48% gained. Market breadth was
positive today as gainers beat losers by 471 : 383. Futures closed at 1871pts
(parity).
2) Heavyweights : GENTING +2.17% RM9.87, SKPETRO +1.83%
RM4.43, TENAGA +0.65% RM12.38, MISC +2.19% RM6.52, PCHEM +0.90% RM6.72, GENM
+0.93% RM4.30, CIMB -1.00% RM6.89, PBBANK -0.49% RM20.02.
3) DBT : APFT 10mil @ RM0.145 (3.17% PUC @ 9.5%
discount), BHS 6mil @ RM2.70 (7.5% PUC), ALAM 5.5mil @ RM1.53 (2.6% discount).
4) Situational:-
SYF +0.85% RM1.18
- SYF Resources Bhd will jointly develop 8.09 acres of freehold land in Sungai
Long, Cheras into a residential project with a gross development value (GDV) of
RM160m. Its unit, SYF Development Sdn Bhd, had signed joint venture agreements
with Luxmark View Sdn Bhd and Sheeco Properties Sdn Bhd to develop the land.
5) WCT : announce that its wholly-owned subsidiary, WCT
Berhad had on 18 July 2014 accepted a Letter of Award from PETRONAS Refinery
and Petrochemical Corporation Sdn Bhd for the provision of Package 20C1: Common
Construction Access and Permanent Roads within the RAPID Site at Pengerang,
Johor for a contract price of RM341.9m. The Contract shall commence from the
date of the Letter of Award until completion of the Works; +ve, although partly
anticipated. Contract is expected to contribute positively to the Group's
future earnings and net assets. Win also partly eases the concerns about WCT's
ability to replenish it's OB, as it continues to be a major laggard in contract
wins in FY14. Other potential job wins in the near future include: i) work
package for West Coast Expressway in the open tender category, which worth more
than RM2bn in total, ii) Kwasa Damansara Land civil works with estimated
contract sum of RM1bn and iii) some Putrajaya building works. For overseas
projects, group is keen to participate in some highway projects, civil works as
well as building works, mainly focuses in Qatar.
6) Market: Trading expected to range sideways, on the
back of weaker sentiment following the MH17 incident. Selling pressure,
although evident, is expected to be shallow as the market could be in the midst
of digesting the negative impact of this event. Buying support is expected at
1,860/55 level.
