FBMKLCI
1813.79pts -2.02pts (-0.11%)
Volume 1.649b Value 1.601b
1) The KLCI trended closer to the 1800 level as it lost
grounds for a 4th consecutive day following the weaker global oil prices after
IEA reported weakening global demands. In the regional market, bourses were
mixed as the NIKKEI +0.56% gained after the Jap PM decided to call for an
earlier election amid mounting expectations that the BOJ will delay in the
sales tax hike, SHCOMP -0.27%and HSI +0.28% closed flat before the trading link
debut next week. In the local market, INDUSTRIAL-1.82% recorded the biggest
lost amongst the sectors weighed by PCHEM -6.83%, PMETAL-3.03%, and COASTAL
-3.85%. Market breadth was negative with losers beating gainers by 548 : 235.
Futures closed at 1815.5 (2pts premium).
2) Heavyweights : PCHEM -6.83% RM5.45, MAYBANK -0.52% RM9.56,
KLK -1.46% RM22.84, GENTING -0.75% RM9.22, PBBANK +0.33% RM18.20, BAT +1.72%
RM69.68, PETGAS +0.93% RM21.66, CIMB+0.48% RM6.21.
3) DBT : LIENHOE 27mil @ RM0.30 (7.46% PUC @ 10.5%
discount), XINGHE 10mil @ RM0.095, BARAKAH 7.1m @ RM1.18, YINSON 1mil @ RM2.57.
4) Situational:-
ECONBHD 0.00% RM0.96 - Econpile Holdings Bhd has secured
a RM30.0m contract for the substructure of a condominium along Persiaran Stonor
in Kuala Lumpur. It said it had received the contract from CRCC Malaysia Bhd to
undertake bored piling, earthworks and basement substructure works for the
project. The duration of the contract is 14 months and is expected to be
completed in January 2016.
ENCORP+1.46% RM1.39 - Encorp Bhd is seeking RM68.7m in
claims from Lembah Penchala Sdn Bhd over wrongful termination of a contract to
build four 13-storey blocks of apartments in Ara Damansara. Encorp said its
unit Encorp Construct Sdn Bhd had served a notice of arbitration on Lembah
Pencala seeking general damages, claims of RM68.7m, refund of proceeds from the
performance bond of RM9.0m and financing charges, with costs. It said Lembah
Penchala had awarded the contract involving the construction and completion of
the main worksfor the four blocks with a total of 409 apartments, three-storey
basement car park and other facilities along Jalan PJU 1A/20, Ara Damansara.
5) GAB
3 months tover+20.7% RM393.2m Net+10% RM54.6m EPS 18.07s
26.8%
of cons(f) FY15 net RM203.33m
the Group revenue grew 20.7% to RM393.2million compared
to the same quarter last year. This was mainly driven by higher sales as a
result of improved pricing and brand mix. Government’s measures against
contraband beers and the slight improvement of consumer sentiments has also
benefited GAB. PBIT rose 10.3% which was lower compared to the revenue growth
mainly because of higher excise duty and sales tax payments and the increase of
commercial investments compared to the same quarter last year.
QoQ revenue declined by 4.8% against the preceding
quarter mainly due to higher sales in the preceding quarter, reflecting
seasonal demand. Despite lower revenue, the Group PBIT improved 13% as a result
of costs efficiencies in current quarter and higher commercial spend in the
preceding quarter.
Currently trades at 19.6x PER with decent dividend yield
of 5%. hold.
6) market: Continue weakness in commodity prices is
expected to weigh on investors sentiment. Expect broad market to continue
consolidation with strong support around 1800pts