FBMKLCI
1880.93 -9.04pts (-0.48%) Volume
1.644b Value 1.803b
1)The KLCI erased the week's gains closing -9pts below
weighed by selected bluechips today after the US market closed flat overnight.
In the regional market, bourses were mixed just before the weekend as HSI
+0.10% and SHCOMP -0.11% both swung between gains and losses just before the
release of CHINA's manufacturing data on Monday & US ISM data over the
weekend. In the local market, FINANCIAL stocks were the biggest loser amongst
the sectors today weighed down mainly by PBBANK -1.50%, MAYBANK -0.30%, RHBCAP
-1.05%. Market breadth was slightly negative today as losers inched past
gainers by 393 : 371. Futures closed at 1884 (4 pts premium).
2) Heavyweights : PBBANK -1.50% RM19.60, GENTING -1.18%
RM9.98, TENAGA -0.65% RM12.14, ASTRO -3.09% RM3.44, PETGAS -0.73% RM24.48,
MAYBANK -0.30% RM9.80, SKPETRO -0.68% RM4.38, IHH +0.92% RM 4.39.
3) DBT : SUMATEC 35mil @ RM0.34 (1.12% PUC), YTLPOWR
15mil @ RM1.48, TROP 10.330mil @ RM1.53
4) Situational:-
GBGAQRS + 1.66% RM1.22 - Gabungan AQRS Bhd, a
construction services provider and property developer, is currently tendering
for construction projects worth more than RM1.0b. The group said that it hopes
to strengthen its current order book of RM1.9b. The group said that they aim to
scale up their construction operations to have an ongoing order book of more
than RM2.0b at any one time.
5) YINSON : Q1 04/14 Rev+28% RM294.1m Net+96% RM30.3m EPS
11.73
Results
in line with cons RM120.8m
For 3 months yoy, higher revenue was recorded in the
marine division +480%, mainly due to increase in contribution from new
subsidiary Yinson Production AS, acquired in Dec 2013. Revenue from transport
division -2.8%, trading division -8%. There was a significant improvement in
group PBT +111%, mainly attributable to increase in contribution from marine
segment and Joint ventures and offset by increase in net forex losses &
finance cost. PBT from the share of results from JV +228% due to revenue
contribution from a FPSO of RM15.2m and contribution of RM5.2m from a JV of
subsidiary acquired in Dec 2013; We continue to like Yinson's transformation
and its conservative approach in securing only long-term contracts, plus it's
foothold in the high growth FPSO market. The immediate catalyst for the stock
is it's bid to secure the Eni's FPSO charter for the Sankofa-Gye Nyame field
under the Offshore Cape Three Points (OCTP) licence, offshore Ghana. The contract is due to be announced soon with
at least three contractors officially in the running for the award. Other
catalysts include i) FPSO expansion, ii) FPSO redeployment, and iii) synergy
enhancement.
6) Market: Expect more range bound trading next week
barring external factors. Follow through rotational play on second & third
liners may continue while half yearly closing activities may impact the
30-index stocks on Monday.
