FBMKLCI
1846.31 -0.03pts (0.00%)
Volume 2.730b Value 2.536b
1) The KLCI erased earlier gains to close just flat as
the index showed no traces of window dressing activity at the end of the
session. This was inline with the weaker US market overnight that declined
amidst concerns in the Middle East as well as the civil unrest in the HK. In
the regional scene, bourses were generally weaker weighed by HSI -1.28% &
HSCEI -1.23% which declined for a 2nd day as the street of HK closed for the
3rd consecutive day. SHCOMP +0.26% however closed slightly above the overnight
level despite the HSBC Flash PMI for September missing consensus. In the local
market, CONSUMER +0.46% index remained defensive as UMW, CARLSBG, BAT, PPB
gained the most grounds amidst the weaker broad market. Market breadth was
negative today as losers beat gainers by 455 : 355. Futures closed at 1842 pts
(4 pts discount).
2) Heavyweights : CIMB -2.22% RM7.03, MISC -2.45% RM6.75,
KLK -1.95% RM21.08, GENTING +1.60% RM9.49, TENAGA +0.81% RM12.38, MAYBANK+0.70%
RM9.96, UMW +2.85% RM12.26, IHH +1.19% RM5.08
3) DBT : NIHSIN 21mil @ RM0.355 (8.87% PUC @ 28.8%
discount), GBGAQRS 11mil @ RM1.8527 (2.81% discount), BIOSIS 9.791 @ RM0.25
(9.325% PUC @ 92.3% premium).
4) Situational:-
GBH -17.77% - share price fell following the mutual
cancellation of the proposed venture into the oil and gas sector via proposed
acquisition of Globalmariner Offshore Services
Sdn Bhd for RM38mil, which was linked to a reverse takeover (RTO) of
GBH. The company said its unit Ekspresi Tepat Sdn Bhd had mutually agreed to
terminate the memorandum of agreement (MOA) to buy Globalmariner from Dynac Sdn
Bhd, Zahar Mohd Hashim Zainuddin, Shafinaz Shaukat and Datuk Dr Freezailah Che
Yeom.
5) BIPORT : Samalaju Industrial Port SB, a wholly owned
subsidiary of Bintulu Port Holdings has issued the Letter of Acceptance dated
26th September 2014 to Samado Sdn Bhd (the Contractor), for the construction
and completion of Proposed Samalaju Port Development Project At Samalaju,
Bintulu, Sarawak, Malaysia - Administration Building And Associated Works
Package For Phase 1 Works. The Contract Sum is for RM40.4m & shall be for a
period of 21 months from the date of
Notice to Commence Works; Neutral on news. We believe the 2H14 could be
stronger for the group, given the seasonally stronger period. The construction
of Samalaju Port is on track and it is scheduled for completion by 1H16, which
may stimulate growth. Overall, we are still positive on the long-term prospects
of the project as economic activity in Sarawak is expected to pick up due to
the SCORE initiative.
6) Market : Cautious trading expected to continue
although key momentum indicator are emerging from its oversold situation,
suggesting that a potential reversal could occur. Good buying support seen at
1840 pts, but upside could be capped at 1860 pts, due to lack of short term
catalysts & regional political concerns.