FBMKLCI
1872.16 +10.41pts (+0.56%)
Volume 5.112b Value 2.913b
1) The KLCI closed
at the day high following the stronger US and Europe stocks over night as
investors look towards the Jackson Hole Summit this Friday where the Global
leaders (Janet Yellen & Mario Draghi) would shed more light on whether the
interest rates should be kept at a low. The index gain was on the back of a
historical high volume traded on the Bursa in a single day of 5.1b shares. In
the regional scene, HSI +0.67% led the Asian shares higher after HK ETF soars
on increasing foreign interest, SHCOMP rose +0.26% as the country test a stock
trading platform that links both SHCOMP and HSI exchange to allow mutual access. In the local market,
Volume of the market soared past the
5bil mark as Penny stocks hogged the spotlight with active trades amongst names
such as PDZ +19.04%, SUMATEC +3.39%, TALAMT +3.84%, MARCO +14.63%. Market
breadth was positive with gainers beating losers by a nose at 456 : 439.
Futures closed at 1867.5 (5points discount)
2) Heavyweights : CIMB +0.86% RM7.00, TENAGA +0.813%
RM12.40, PBBANK +0.52% rM19.36, PETDAG +4.35% RM21.56, MAYBANK +0.59% RM10.08,
GENTING +1.02% RM4.40, PPB +2.04% RM14.98, RHBCAP +2.37% RM9.50.
3) DBT : NEXGRAM 41mil @ RM0.135 ( 2.42% PUC), SUMATEC
38mil @ RM0.61 (1.09% PUC), COMPUGT 24.9mil @ RM0.05 (16.7% discount).
4) Situational:-
IJACOBS -9.72% RM0.65 - Ideal Jacobs (Malaysia) Corp Bhd
is making headway into the oil and gas industry via a reverse takeover on oil
and gas consultation service providers Cekap Technical Services Sdn Bhd and
MECIP Global Engineers Sdn Bhd for RM129.0m. The group said a special purpose
vehicle, CMOG Group Sdn Bhd will be incorporated to undertake the proposed RTO,
and assume the ACE Market-listing status of Ideal Jacobs. In conjunction with
the RTO, CMOG has also entered into a series of conditional share acquisition
agreements with the vendors of Cekap and MECIP to acquire 100.0% stake in the
two firms for RM129.0m via the issuance of 516.0m new CMOG shares at 25 sen
each.
ASUPREM -5.71% RM0.165 - Zenith PMC Sdn Bhd has clarified
the cancellation of its joint venture (JV) with Astral Supreme Bhd (ASC).
Zenith said the assignment to execute the feasibility study of the main roads
in Pulau Pinang had been carried out by professional consultants. It is said
that the termination has been effected as ASC could not fulfill its obligations
as stated in the JV agreement. The termination deos not preclude the company
from engaging ASC for future projects.
5) PERDANA : Q2 06/14 Rev+37% RM175.8m Net+86% RM46.03m
EPS 6.26s
Results
in line with cons FY of RM96.9m
We continue to like the group as a pure offshore support
vessel (OSV) player. It is set to be a regional brownfield charterer, as it
aims to secure contracts outside of Malaysia, ie in Vietnam, Thailand and
Myanmar. We like its young fleet (av age of 4-5 years). Currently, three of its
18 vessels, ie two 5k-brake horsepower anchor handling tug and supply vessels
and SK312 Emerald, are involved with tenders worth a total of ~MYR300m. The
stronger earnings uptick expected in FY14 is the potential re-rating catalyst.
6)Market : We are neutral on the immediate market outlook
with trading expected to be range bound between 1,850 to 1,870 points as we
track closely earnings reports over the coming fortnight. Market focus to
remain on penny stocks.