FBMKLCI
1738.10 -2.74pts (-0.16%)
Volume 1.443b Value 1.702b
1) The KLCI closed marginally lower following abysmal
performance by the US market overnight as the oil prices -4% fell to 5 year
lows. In the regional market, bourses were generally negative weighed by SHCOMP
after profit taking derailed its recent bullish rally pulling back -5.4% today
alone, the HSI also fell -2.34% weighed by energy and oil heavyweights, NIKKEI
-0.74% and ASX-1.68% both closed lower. In the local scene, TECHNOLOGY index
-1.57% and the INDUSTRIAL index -1.40% were the 2 biggest losers today weighed
by INARI -2.90%, MPI -3.19%, GHLSYS -5.67% and PETGAS -2.18%, PMETAL -7.51%,
CMSB -3.34%. Market breadth was unevenly skewed towards the negative as losers
led gainers by 647 :216. Futures closed at 1734 (4 pts discount).
2) Heavyweights : PETGAS -2.18% RM21.50, CIMB -1.09%
RM5.41, SKPETRO -2.77% RM2.45, PBBANK -0.44% RM18.10, FGV -4.04% RM2.85, TM
+3.91% RM6.90, HLBANK +2.43% RM14.30, MAXIS +1.06% RM6.62.
3) DBT : PRDUREN 103.5mil @ RM1.60 (75.987% PUC @ 15.4%
discount, sale by TS Law), JOBST 7.764mil @ RM2.8131 (1.09% PUC @ 4.5%
discount), YINSON 1.7mil @ RM2.55 (5.6% discount).
4) Situational:-
AIRASIA +1.09% RM2.77 - AirAsia Bhd has signed a brand
licence agreement with PT Indonesia AirAsia Extra (IAAX) for the use of its
brand name, trademark and logos of AirAsia X in Indonesia. AirAsia said the
agreement allowed IAAX to operate and be visually recognisable in the same
manner as AirAsia X within the AirAsia group. AirAsia owns 49.0% of
equityshareholding in IAAX while the remaining 51.0% is held by PT. Kirana
Anugerah Perkasa.
WASEONG -1.29% RM1.53 - Wah Seong Corp Bhd, via its
indirect subsidiary P.M.T.I Energy (Cambodia) Co Ltd (PMTIEC), is venturing
into a biomass power plant project in Cambodia by supplying electric energy to
Baitang (Kampuchea) Plc for 20 years. PMTIEC has signed a Power Purchase
Agreement (PPA) with Baitang to sell up to 3.5MW per hour of electricity
generated to Baitaing for 20 years from the first day of the completion of
Initial Capacity Test. The company said the supply of electricity may be renewed and extended
perpetually by mutual agreement between PMTIEC and Baitang in writing,
according to the terms and conditions set in the PPA.
5) IJM : announced that IJM Construction Sdn Bhd, a wholly-owned
subsidiary had today accepted 2 Letters
of Award from Sime Darby Sunrise Development Sdn Bhd for the execution and
completion of the following works for the proposed mixed development known as
"RADIA" at Bukit Jelutong, Selangor Darul Ehsan - superstructure, infrastructure &
landscaping works for Phase 1&2 worth RM262.9m ( 26 months completion
period commencing 15/12/14) and Phase 3&4 worth RM172.4m ( 26 months
commencing 15/06/15). Work scope for all the phases include commercial
complexes, service apartments, facilities, podium & basement car parks;
+ve. This is the 2nd positive newsflow in 2 days, following the announcement
yesterday of the conditional Share Purchase and Debenture Subscription
Agreement to dispose its 100%-owned
Jaipur-Mahua Tollway Private Limited to
ISQ Asia Infrastructure for INR5.25b (approximately RM295m) & looking at an
estimated a gain of RM188m. Group's outlook remains bright. It is in the midst
of entering a new phase of growth as almost all of its businesses are in
"earnings expansion mode". Group has a healthy construction orderbook
of RM5.1b and potential new wins of RM1.0-RM2.0b which will provide earnings
visibility for at least the next four years. It is also in the midst of
completing the IJM Land's privatization exercise (3Q15); Accumulate.
6) Market: The index will continue to be weighed down by
lower oil prices, weaker ringgit & low participation by foreign
institutions. We expect further consolidation between the 1730-1750 points
range, with downward bias due to the lack of catalyst.