FBMKLCI
1767.77 -19.07pts (-1.07%)
Volume 2.557b Value 2.679b
1) The KLCI saw another day of sell down weighed by
heavyweights CIMB -4.47%, SKPETRO -7.33%, AXIATA-1.98% as the index plunge
below the 1780 support to close at 1767.77 following the significantly weaker
U.S market overnight. In the regional market, sentiments were also dragged down
by the selling in the West overnight sending NIKKEI-2.25%, HSI -1.03%, SHCOMP
-0.72%, STI -1.19% all deep into the negative territory. In the local market,
selling pressure blanketed the market sparing only a handful, the TECHNOLOGY
-6.17% index fell the most weighed by losses amongst UNISEM-11.11%, MPI
-10.02%, GTRONIC -8.04% while the sector that lost the least ground was
PLANTATION -0.89%. Market breadth was negative as losers overshadowed gainers
by 1001 : 64. Futures closed at 1761.5 (6 pts discount).
2) Heavyweights : CIMB -4.47% RM6.19, SKPETRO -7.33%
RM3.16, AXIATA -1.98% RM6.93, MAYBANK -1.35% RM9.45, GENTING -2.52% RM8.87,
GENM -2.50% RM3.90, PCHEM -1.29% RM6.09, BAT+1.86% RM66.72.
3) DBT : SLP 12mil @ RM0.858 (4.85% PUC), ALAQAR 4.4mil @
RM1.4030, BIMB 4.0mil @ RM4.1925.
4) Situational:-
PJDEV -5.98% RM1.57 - OSK Holdings Bhd has offered to buy
OSK Property Holdings Bhd and PJ Development Holdings Bhd (PJD). OSK signed a
conditional share sale agreement with its managing director and chief executive
officer Tan Sri Ong Leong Huat and the parties acting in concert to buy a 73.6%
stake in OSK Property for RM355.3m, or RM2 per share. The company is also
buying from the same vendors a 31.7% stake in PJD for RM229.4m, or RM1.60 per
share. The acquisitions will be paid in new OSK Holdings shares.
5) KPJ - announced that the Company’s wholly-owned
subsidiary company, Kumpulan Perubatan (Johor) Sdn Bhd (“KPJSB”), had on 16
October 2014 signed a Memorandum of Understanding (“MOU”) with Pelaburan
Hartanah Berhad (“PHB”) and Nadayu Properties Berhad (“NPB”) for the proposed
development and leasing of a purpose-built hospital building to be known as the
“KPJ Damansara Specialist Hospital II” by PHB to KPJSB and it is to be located
in Segambut, Wilayah Persekutuan.
NPB shall develop at its own cost and handover a
three-hundred (300) bedded nine (9) storey hospital building with a built up
area of 459,000 square feet and six hundred thirty six (636) car parking bays
and all infrastructures which is located on the Portion (“Demised Premises”)
complete with the Certificate of Completion and Compliance (“CCC”) to PHB
within 36 months from the date of the Definitive Agreements.
PHB shall execute the SPA with NPB and DSSB for the
purchase of the Land, inclusive of the Demised Premises and thereafter to lease
the Demised Premises to KPJ.
Simultaneously, KPJ will execute the Agreement To Lease
and Lease Agreement annexed to it with PHB to lease the Demised Premises for
the period of 15 years with an option to renew for another 15 years.
KPJ has guided earlier that they will be building 3
additional hospitals over the next 2-3 years, hence this is expected and
positive for its mid to long term expansion plan.
6) Market: is very oversold with RSI at 16.2% and trading
into the support band of KLCI 1760 – 1780 from October 2013 to February 2014.
Barring further shocks from externalities like oil, Ebola & the excessive
forced liquidation in US & European markets overflowing into redemption of
emerging markets, we expect the Malaysian market to gradually begin to find its
footing.
