FBMKLCI
1697.31pts - 35.68pts (-2.06%) Volume
2.064b Value 2.318b
1) The KLCI contracted another 2% today breaking thru the
1700 psychological level today following the weaker U.S market as the Oil
prices continue to decline. In the regional scene, bourses were generally
weaker in tandem with the global markets as NIKKEI - 1.57% despite a land slide
win by Abe in the recent snap elections, HSI also closed lower following the
PBOC's minutes which indicated that the mainland's growth could decrease to
7.1% next year on slowing property investment, the SHCOMP however, saw gains
amongst construction companies as investors bet on the government's
intervention going forward. In the local scene, INDUSTRIAL index lost the most
grounds amongst the sector losing 4.9% weighed by PCHEM -8.21%, CMSB -13.88%,
PETGAS -1.20%, SUPERMX -16.49%. Market breadth was negative as loser thumped
gainers by 1010 : 66. Futures closed 1704.50 (5 pts premium).
2) Heavyweights : PCHEM -8.21% RM4.69, TENAGA -2.47%
RM13.40, MAYBANK -2.49% RM8.60, PBBANK -1.67% RM17.66, KLK -5.72% RM20.10, CIMB
-2.15% RM5.45, SIME -2.06% RM9.01, TM -3.20% MR6.65.
3) DBT : ARMADA 35.059mil @ RM1.01, XINGHE 15.433mil @
RM0.08, EDUSPEC 9.2mil @ RM0.22.
4) Situational:-
AIRPORT -0.75% RM6.61 - Malaysia Airports Holdings Bhd's
unit has bagged a project worth 209.5m Qatar riyals (RM192.2m) for the repair
and maintenance servicesof the airport special systems at Hamad International
Airport in Doha, Qatar. The airport management company said its subsidiary of
Malaysia Airports Consultancy Services Sdn Bhd (MACS) had on Wednesdayreceived
the letter of award and notice to proceed for the project from the New Doha
International Airport Steering Committee.
SUPERMX -16.49% RM1.62 - Supermax Corporation Bhd's
executive chairman and group managing director Datuk Seri Stanley Thai and his
wife Datin Seri Cheryl Tan were charged by the Securities Commission with
insider trading involving the shares of APL Industries Bhd in 2007. Supermax,
which makes gloves, issued a statement on Monday that Thai and his wife, who is
an executive director of the company, were charged under Section 188 3(a) of
the Capital Markets and Services Act 2007 involving APLI shares in 2007.
5) DAYANG : announce that its wholly-owned subsidiary
Dayang Enterprise Sdn Bhd has been
awarded by Petronas Carigali Sdn Bhd, a contract for the Provision of
Brownfield Major Modification Work for Bardegg-2 and Baronia EOR Development
Project on 26 November 2014. Job comprises major modification work for
Bardegg-2 and Baronia EOR development offshore Sarawak. The Contract is valued
at cRM280m & is for approx 36 months effective from 12/2014 until 2017 or
completion of works; +ve, contract is expected to contribute positively to the
earnings of the group. We like Dayang as earnings are assured for the next 4-5
years with an orderbook of RM4.5b. About 80% of the orderbook consist of 5-year
hook up & commissioning (HUC) contracts which commenced in 2014, while the
balance are for topside maintenance activities. Dayang is also bidding for
close to RM700m of EPCC contracts which is a potential near-term catalyst.
Valuation is attractive with forward FY15 PER of 8.6x. Dayang is also one of the
few remaining big cap syariah compliant stock with Div 3.5%
6) Market : is expected to remain cautious with sentiment
weak, on the back of depressed commodity prices. Market direction to largely
hinge on oil prices and potential year end window dressing activities.
