FBMKLCI
1827.93 +3.74pts (+0.21%)
Volume 2.662b Value 1.979b
1) The KLCI closed in positive territory albeit weakness
in the broad market today. Regional market bourses were stronger after the
Chinese govt announced that the Shanghai-HK exchange link will debut in a week,
SHCOMP +2.30% and HSI +0.83% both outperformed the region. In the local scene,
INDUSTRIAL +0.66% index gained the most grounds led by MISC +2.98%, SIME
+0.41%, LAFMSIA +2.53%, while the CONSTRUCTION -0.62% index lost the most
grounds weighed by IJM -1.31%, WCT -1.38%, JAKS -10.08%. Market breadth was
negative today as losers beat gainers by 482 : 345. Futures closed at 1833.5
(5pts premium).
2) Heavyweights : MAYBANK +0.93% RM9.75, MISC +2.98%
RM7.60, TENAGA +0.76% RM13.10, UMW +3.36% RM11.68, SKPETRO +1.94% RM3.14,
AXIATA +0.57% RM7.00, DIGI -1.79% RM6.02, IHH -1.43% RM4.80.
3) DBT : SUNREIT 31.5mil @ RM1.51 (1.07% PUC), BJAUTO
10.955mil @ RM3.20 (1.35% PUC), AMBANK 10.319mil @ RM6.56.
4) Situational:-
FGV+1.14 % RM3.53 - FGV Biotechnologies Sdn Bhd, one of
Malaysia's largest palmbased biodiesel producers, is looking at ramping up its
production and boosting exports to the EU, China, the United States and
South-East Asia. FGVB, a subsidiary of agri-business conglomerate Felda Global
Ventures Holdings Bhd (FGV), currently owns one palm methylester (PME)
biodiesel plant in Kuantan, Pahang and is in the process of finalising the
purchase of another plant next to the existing plant. In addition, it also
commissions third party PME players to increase its PME production.
CARIMIN +4.54% RM1.15 - Oil and Gas services provider
Carimin Petroleum made a steady debut today opening at RM1.12 and closing at
RM1.15, 5 cents above its IPO price with 43mil traded in the market. Under its
listing exercise, the public portion of 11.7 million shares was oversubscribed
by 22.1 times. The IPO raised RM66.8mil in proceeds for the group which the
group will use for capex as it has tendered for projects worth RM800mil with
several local oil majors.
5) IOIPG
Today announced the Proposed Rights Issue of 539,835,787
Rights Shares at an issue price of RM1.90 is to via a renounceable basis of one
(1) Rights Share for every six (6) existing IOIPG Shares. Based on the issued
and paid-up share capital of IOIPG of RM3,239,014,726 comprising 3,239,014,726
IOIPG Shares a total of up to 539,835,787 new shares will be issued raising
approximately RM1025.6m.
Procceds will be utilized as follows a) Capital
expenditure RM500.0m within 18 months for investment properties at IOI Resort
City which includes the development costs for the completion of common
infrastructure,
IOI City Tower One, IOI City Tower Two and IOI City
Hotel. b) Investment opportunities RM200.0m within 24 months and c) working
capital RM324.8m within 18 months.
+ve as the company is still trading at reasonable
valuations of 18x PE and 3% yield forward earnings with the potential to
capitalize on the MRT Line 2 with a lot of its land bank benefiting from the
new accessibility. Accum on weakness.
6) Market - Current market trading pattern to maintain
with investors remaining defensive despite the sharp sell off particularly in
O&G mid/small caps.
------------------------------------------------------------
Follow us at our blog
http://www.ateamecm.blogspot.com/ all current and archived material available
online.
