FBMKLCI
1833.54 -7.28pts (-0.40%)
Volume 2.188b Value 2.079b
1) The KLCI fell at the close peaking at +8pts high
before tumbling to a -7 point low following the weaker global sentiments after
the World Bank downgraded growth forecasts in China and East Asia yesterday. In
the regional market, bourses were mixed as the NIKKEI -0.67%, ASX -0.16%, STI
-0.28% reported losses thruout the day while the HSI +0.46% reported its 3rd
straight gains after city officials and protesters held a 2nd round of talks.
In the local market, TECHNOLOGY index -2.88% lost the most grounds today after
investors took profit on selected names which outperformed the index the past
year, INARI -4.40%, GTRONIC-6.08%, GHLSYS -5.34%. Market breadth was generally
negative as losers towered over gainers by 804 : 159. Futures closed at 1831.5
(2 pts discount).
2) Heavyweights : SKPETRO -4.92% RM3.86, GENM -3.38%
RM4.00, PETGAS -2.27% RM22.34, KLK -2.33% RM20.90, BAT -1.67% RM67.02, GENTING
-0.74% RM9.34, TM +2.69% RM6.86, IOICORP +0.83% RM4.84,
3) DBT : APFT 11.3mil @ RM0.27 (3.58% PUC @ 68.7%
premium), BORNOIL 11mil @ RM0.72 (3.96% PUC @ RM8.2% premium), HARTA 5mil @
RM7.00.
4) Situational:-
MUDAJYA +2.04% RM2.00 - Mudajaya Group Bhd, in a tie-up
with a French firm, is the frontrunner to clinch a long-term concession with
1Malaysia Development Bhd (1MDB) to supply the central cooling system for the
Tun Razak Exchange (TRX). The contract will likely be awarded on a
build-own-operate basis, could be valued at some RM100.0m, with a concession
period of up to 20 years. The construction outfit has been named a preferred
bidder among several companies that had submitted bids.
5) AXIS REIT
Proposes to acquire Industrial property for a total lump
sum cash consideration of RM153.5 million from Yongnam Engineering Sdn. Bhd.
2014The Property is located within Kawasan Perindustrian SiLC at approximately
25km west of the Johor Bahru city centre and 10km north-west of Kota Iskandar.
The property will then be leased back to
Yongnam is for a fixed term of 15 years with an option to renew for another 15
years, while the rental rates for the period will be on an agreed step-up rate
of 10% every three years.
Axis intends to utilise a debt facility of approximately
RM153.5 million from its existing credit lines. The proposed debt financing
will increase Axis-REIT's gearing ratio to 38.58% of audited total assets as at
31 December 2013, which is below the gearing limit of 50% prescribed by the
REIT Guidelines. Together with the earlier three proposed acquisitions
announced in August 2014 of RM280.5mil, the total AUM of the fund will increase
to RM2bil.
6) Market - Selling in stocks, particularly those with
high foreign holdings likely to continue especially after the KLCI closed below
recent support levels of 1837pts. Negative bias trading market to continue with
next significant support around the 1820pts levels.
