FBMKLCI
1864.87 -2.82pts (-0.15%)
Volume 2.999b Value 2.104b
1) The KLCI fell
on earlier trade touching a low of 14pts today following the weaker US market
overnight but swiftly recovered towards the 2nd half after news of Russia &
Ukraine's leader, Putin and Poroshenko agreed to permanently ceasefire in
Ukraine's Donbass region. In the regional market, bourses were generally
stronger led by HSI +2.3% after China released better than expected Services
& non-manufacturing data for August today, SHCOMP rose +1.00% while the
HSCEI gained +3.16%. In the local market, Technology index -1.08% loss the most
grounds for a 2nd consecutive day weighed by INARI -1.60%, MPI -2.30%, KEYASIC
-22.22%. Market breadth was negative with losers beating gainers by 455 : 386.
Futures closed at 1856.5 (8pts discount).
2) Heavyweights : CIMB -1.08% RM7.28, GENM -2.28% RM4.28,
ASTRO -3.95% RM3.40, BAT -1.24% RM71.60, PETGAS -0.61% RM22.51, DIGI +1.22%
RM5.80, GENTING +0.92% RM9.79, SKPETRO +1.17% RM4.30.
3) DBT : COMPUGT 14.8mil @ RM0.05, KINSTEL 10mil @
RM0.20, GLOTEC 7mil @ RM0.1014
4) Situational:-
IVORY +5.93% RM0.625 - Aspen Vision Land Sdn Bhd (AVLSB),
a special purpose vehicle formed by Ivory with Aspen Vision Development Sdn Bhd
has inked a purchase and development agreement (PDA) with Penang Development
Corporation (PDC) and sealed a partnership with Ikano Pte Ltd (Ikano). The
agreement sees AVLSB acquire 245-acre freehold land in Bandar Cassia, Batu
Kawan where most of the land is earmarked for mixed development comprising
residential and commercial properties. AVLSB also firmed up a partnership with
Ikano to jointly develop a state-of-the-art integrated regional shopping centre
and anchored by an IKEA Store. Trading BUY.
5) FAVCO : announce that its wholly-owned subsidiaries
had received 3 purchase orders in the month of August 2014 for the supply of 2
offshore cranes & 1 tower crane for an approximate combined value of
RM119.9m. These are expected to be delivered from early 2015 to end 2015. The
contracts are expected to contribute positively to the earnings for the financial
year ending 31 December 2014 and beyond; +ve, orders have been strong for the
group. Prior to this, outstanding orderbook already stood at all-time high of
MYR1.02bn. About 95% of its orderbook is made up of contracts to supply
offshore oil and gas with the remaining 5% for onshore cranes, shipyards. As
major drilling rig owners are still keen to expand their drilling rigs, demand
for Favelle Favco's cranes may remain robust. A sudden increase in drilling
rigs and specialized OSV orders could be a key rerating catalyst for the group
as it would likely result in increased crane orders from Favelle Favco; Hold.
6)Market: Talks of potential ceasefire in Ukraine-Russia
should ease geopolitical tensions and is positive for equities in general, but
Bursa will continue to underperform the region in the near term.
