FBMKLCI
1824.19 -7.79pts (-0.43%)
Volume 2.522b Value 1.954b
1) The KLCI closed at day’s low paring earlier gains
after hitting a high of 1841 (+9.42pts) as key heavyweights led by PCHEM and SIME saw selling pressure at close. In
the regional market, bourses were lacklustre despite a stronger DOW overnight
as ASX+0.78%, Nikkei +0.55% were offset by HSI-0.42% and STI-0.14%. as
investors trade cautiously ahead of key US employment data tonight. In the
local scene, Construction-1.16% fared worse paced by loses in GAMUDA-3% and
IJM-1.7% as investors took opportunity to lock in profit following recent
rally. Market breadth was marginally positive today as the gainers edged
decliners by 409 : 392. Futures closed at 1825 (1points premium)
2) Heavyweights : PCHEM-3.6% RM5.89, SIME-1.2% RM9.60,
PBBANK-0.55% RM18.24, GENTING-1.25% RM9.46, SKPETRO-1.9% RM3.08, AXIATA-0.43%
RM6.96, BAT+3.8% RM68.00, MISC+1.8% RM7.38
3) DBT : K1 45mil @ RM 0.37 (12% PUC, 28.8% discount),
BJAUTO 39.1mil @ RM3.20 (4.8% PUC, 8% discount), MAYBANK 22mil @ RM9.73, MEGB 9.846mil
@ RM0.60 (2.4% PUC)
4) Situational:-
MEGB -1.6% RM0.61: Masterskill Education Group Bhd has
announced the disposal of its assets in a move to become an asset-light
company. Major shareholder Siva Kumar Jeyapalan has offered to buy back four
properties for RM75.0m, while another four non-core properties will be put up
for sale. This move will see the company reducing its gearing to zero. An
independent valuer, principal and independent advisers will be appointed for
the proposed corporate exercise, said MEGB.
5) SUPERMX
3QFY14 Tover-20%
RM748.75m Net-22% RM80.7m Eps
11.93sen DPS 5sen
Core net
profit of RM86.6m is 69% of Consensus (f) RM125m
YoY, 3Q revenue was 2.2% lower mainly due to marginally
lower gloves sold as a result of automation program in the current quarter. PBT
was RM32.4mil -20% mainly due to this quarter recording a RM5.9mil realised and
unrealised FOREX losses. 9M revenue was
-20% lower mainly due to fire incident at Alor Gajah plant.
QoQ, Revenue was up 16.9% to RM278mil as its plant in
Alor Gajah had fully recovered its production capacity. However PBT was only
+0.4% due to FOREX losses and stocking up cost relating to new factories and for the resumption of
Alor Gajah plant.
Going forward, Latex and nitrile prices is expected to
remain at current levels. Company’s earnings will be supported by the recovery
of its Alor Gajah plant as well as full commission of its production lines in
Lot 6059 and 6058 that will see nitrile production capacity reach 12.3b pieces
p.a. or 52% of the total installed capacity. SUPERMX trades at 10.5x FY15 PER
compared to peers of mid teens . Accumulate.
6) Market: likely to continue consolidation pattern with
first support at 1820pts level. Upcoming earnings season to dictate market
direction.