FBMKLCI
1892.65 +0.15pts (+0.01%)
Volume 1.788b Value 2.293b
1) The KLCI stalled today, closing flat at record levels
despite the weaker US market overnight after Goldman Sachs and JPMorgan revised
its forecast for the Fed's to raise rates in the 3rd quarter of 2015 instead of
2016. In the regional market, HSI closed flat even after HSBC downgraded
outlook for Hong Kong stocks behind a pro-government movement that could affect
relations with the mainland, China's SHCOMP +0.20% however closed just slightly
higher before the release of inflation data tomorrow. In the local market,
CONSUMER -0.33% index was the biggest loser today weighed down by selected
names, NESTLE -1.57%, PPB -0.40%, GOLDIS -2.15%, BAT -0.14%. Market breadth was
negative with losers beating gainers by 464 : 387. Futures closed at 1892
(0.5points discount).
2) Heavyweights : GENTING -2.4% RM9.76, IHH -1.09%
RM4.52, PETDAG -1.51% RM23.40, MAYBANK +0.50% RM9.95, YTL +1.22% RM1.65, CIMB
+0.27% RM7.28, SIME +0.31% RM9.69, GENM +0.71% RM4.20.
3) DBT : PUC 8.75mil @ RM 0.115 (45.3% discount), JAG
5mil @ RM 0.35, GBGAQRS 3mil @ RM1.19
4) Situational:-
FAJAR +1.62% RM0.625 - Fajarbaru Builder Group (FBG) has
purchased three contiguous parcels of vacant land in Doncaster, Victoria
Australia for a total cash consideration of AUD6.9m (RM20.6m). The acquisitions
were made via an indirect unit Fajarbaru-Beulah (Melbourne) Pty Ltd, whose
principal activity is property development. The purchase will be fully
satisfied by a cash payment on or before Sept 17 this year. The vendor is
Doncaster Regency Pty Ltd. The freehold land is located near the intersection
of Doncaster Road and Elgar Road in the Doncaster Hill precinct about 15.0km
east of Melbourne’s central business district. The 0.6 acre has a planning
permit for the construction of an 11-storey building with three levels of
basement and 136 residential apartments.
5) TRC
The Company is pleased to announce that its wholly-owned
subsidiary, Trans Resources Corporation Sdn Bhd ("TRC") had on 4 July
2014 accepted the offer from the Public Works Department Malaysia (JKR), to
construct and complete The Proposed Refurbishment and Upgrading Works for
Parliament House of Malaysia (Phase 2B) for a contract sum of RM 191,000,000.
Barring unforeseen circumstances, the Board is of the
opinion that the Project will contribute positively to the earnings and
earnings per share of the TRC Group in the future.
Positive as contract would boost outstanding orderbook to
close to RM2bn. However concerns remains from its inability to deliver better
margins and result for its construction sector.
6) Mkt: Expect recent record rally to consolidate as
beginning of US earnings season is expected to dictate global market sentiment
and economic outlook.