FBMKLCI
1846.34 +5.84pts (+0.32%)
Volume 2.602b Value 1.879b
1) The KLCI shrugged off the political unrest in HK that
escalated over the weekend to trade in positive territory today inline with the
stronger US market. In the regional market, major bourses were mixed today as
the SHCOMP +0.43%, NIKKEI +0.50% gained while HSI -1.90%, ASX-1% amidst the
on-going protest in HK Central. In the local scene, FINANCE index +0.70%
outperformed the market today closing at its day high boosted by CIMB +2.86%,
HLFG +2.18%, MAYBANK +0.40%, MBSB +1.24%. Market breadth was negative overall
as losers outpaced gainers by 436 : 369. Futures closed at 1845.5 (1pt
discount).
2) Heavyweights : CIMB +2.86% RM7.19, MAXIS +1.87%
RM6.52, MAYBANK +0.40% RM9.89, SKPETRO +0.97% RM4.15, GENTING +0.43% RM9.34,
KLK -1.19% RM21.50, YTL -1.16% RM1.70, IOICORP -0.41% RM4.82.
3) DBT : FABER 2.7mil @ RM3.30, TITIJYA 2.45mil @ RM2.48
(0.69% PUC), SAB 1.8mil @ RM4.887 (1.31% PUC).
4) Situational:-
MUIIND +27.45% RM0.325/ MUIPROP +19.51% RM0.49 - Malayan
United Industries Bhd (MUI), owned by Tan Sri Khoo Kay Peng, has attracted the
buying interest of shrewd investors, Datuk Dr Yu Kuan Chon (chairman of YHN
Property). MUI's latest 2013 annual report listed Dr Yu as a top 30 shareholder
with 44.6m shares or 1.53% stake as at 28 Apr 14. Its crown jewel are its list
of hotel chains in UK that have not been revalued for many years - notably its
Corus Hotel Hyde Park. According to a UK property news website, MUI is said to
have appointed Debutesq Group, a luxury real estate firm, to sell the property
for £200m (RM1.06bn)
5) CRESCENDO
1H 07/2014
Tover -23% RM120.7m Net +55%
RM67.2m EPS 29.5sen
Excl ex
gain of RM49.2m below cons(f) RM69.5m
The Group's revenue for the current quarter ended 07/14
and the first half of financial year ending 01/2015 decreased 20% to RM69.5
million and 23% to RM120.7 million respectively as compared to RM86.7 million
and RM157.7 million respectively for the corresponding period in last year
mainly due to lower sales in industrial properties. Net earnings however were
higher distorted by fair value changes of investment properties amounting to
RM49.7 million in the 2Q.
Operating margins were lower due to change in sales mix
resulting from lower sales in industrial properties which contribute
higher margin as compared to commercial and residential
properties.
The unrecognised revenue from the total committed
property sales as at 31 July 2014 and new sales committed after 31 July 2014 is
RM128 million.
This is another set of poor numbers after a disappointing
1Q. Although the company has RM800 GDV launches in the next 2 years, the
slowdown in activity around Iskandar looks to have taken a toll on its sales.
Hold until further clarification on the sales outlook from management in the
2H.
6) Market - Range bound with negative bias to continue
with the KLCI seen trading in a band between 1830pts -1860pts.
