FBMKLCI
1843.11 +3.03pts (+0.16%)
Volume 2.399b Value 1.849b
1) The KLCI erased earlier losses to close 3 pts above
parity after the stronger US housing data boosted investor's sentiments in the
US shrugging off the weaker data in Europe. In the regional market, bourses
were mixed as the SHCOMP +0.07% closed flat and the HSI -0.64% closed in the
red following a rating cut by BNP Paribas, NIKKEI on the other hand bucked the
trend gaining +1.62% on the Weakening Yen. In the local market, PLANTATION
+0.65% index gained the most grounds today after KLK +2.27%, IOICORP +0.83%,
FGV +0.85%, recorded gains following the rebound in CPO prices. Market breadth
was slightly negative as losers beat gainers by 437 : 419. Futures closed at
1837 (6pts discount).
2) Heavyweights : CIMB +1.71% RM7.10, KLK +2.27% RM21.60,
GENM +1.44% RM4.20, IOICORP +0.83% RM4.84, MAXIS +0.79% RM6.38, TM +2.50%
RM6.54, MAYBANK (ex 24 sens) +0.40% RM9.88, UMW -2.28% RM12.00.
3) DBT : AIRASIA 109.396mil @ RM2.35 (3.93% PUC @ 4.1%
discount), BJLAND 67mil @ RM0.7502 (1.34% PUC @ 12.3% discount), SUMATEC 20mil
@ RM0.45 (4.65% premium).
4) Situational:-
PMETAL -7.21%
RM6.30 - Share price retraced 7.2% today after LME aluminium prices fell 8% in
September below USD2000/MT.
THHEAVY (RM0.82) - TH Heavy Engineering Bhd (THHE) which
has proposed to undertake a private placement of up to 10.0% of its issued and
paid-up share capital of 125.8m new ordinary shares, has Pelaburan Mara Bhd
(PMB) on board for its first tranche of shares placement. THHE said PMB had
agreed to subscribe to 52.8m placement shares or approximately 5.0% of THHE's
share capital at 80 sen per placement share. THHE said the issue price
represents a 2.9% discount to the five-day volume weighted average market price
of THHE shares up to and including Sept 23.
ABRIC -1.36% RM0.725 - Essentra plc, which makes plastics
products, is buying 100% of Abric Bhd's main operating subsidiaries for RM146m.
Essentra said on Wednesday the purchase of the business was on a cash-free and
debt-free basis. Its CEO Colin Day said with a strong market position and an experienced
management team, Abric is a compelling strategic fit for Essentra.
5) TGOFF : announced that its wholly owned subsidiary,
Tanjung Offshore Services Sdn Bhd has been awarded by PETRONAS Carigali Sdn Bhd
(PCSB) a provision of EPIC Contract, on
4 September 2014. The Contract comprises the provision of EPIC of facilities
for the ORIGInS Project that covers both Peninsular Malaysia and East Malaysia.
The ORIGInS Project (Operational Reliability & Integrity Gauging of
Instrument based Safeguards) is an initiative from PCSB's facilities to improve
all automated safeguard items under the process shutdown system and fire &
gas detection systems across PCSB's upstream facilities, whether pneumatic,
hydraulic of electronic-based by identifying potential deficiencies in these
automated safeguards. The Contract is valued at approximately RM200 m &
duration of the Contract is for 3 years effective from 5 September 2014, with
the option to extend for an additional 1 year; +ve, a welcome long awaited
contract win. Contract is expected to contribute positively towards the
earnings for the financial years ending 31 December 2014 to 31 December 2018.
6) Market: More sideways trading anticipated as technical
Indicators were mostly flat, reflecting traders' indecision over mixed economic
data. Geopolitical concerns could lead to more short-term bearish sentiment.
However the index should remain well-supported at the 1830 points level.