FBMKLCI
1796.44pts -6.64pts (-0.37%) Volume 1.879b Value 2.133b
1796.44pts -6.64pts (-0.37%) Volume 1.879b Value 2.133b
1)
The KLCI traded the day in negative territory as investors took profit on news
Greece's leftist party Syriza has won the election over the weekend adding
concern to the Euro zone. In regional markets, bourses recovered and ended
mixed with SHCOMP +0.96%, HSI +0.24% & STI -0.42%, NIKKEI -0.25%. In
the local scene, INDUSTRIAL PRODUCTS -0.84% index recorded the most loss led by
PCHEM -2.90%, PMETAL 4.30%, COASTAL -6.45%, KNM -8.80%. Market breadth was
negative as losers outpaced gainers 559 : 312. Futures closed at 1795(1 point
discount).
2)
Heavyweights : PCHEM -2.90% RM5.35, MAYBANK -0.89% RM8.92, DIGI -1.09% RM6.36,
PBBANK -0.44% RM18.06, CIMB -0.73% RM5.46, GENM +1.79% RM3.98, GENTING -1.02%
RM8.76, IHH +0.96% RM5.26.
3)
DBT: TROP 14.0mil @ RM1.05 (0.96% premium), KRETAM 7.699mil @ RM0.46
(1.1% premium), KANGER 6.9mil (1.39% discount)
4)
Situational:-
SENDAI+3.45%
RM0.60 - Eversendai Corporation Berhad has secured a contract worth RM184
million for a mixed-use development for the construction of the Dhirubhai
Ambani International Convention and Exhibition Centre in Mumbai. Fabrication
work would be undertaken by Eversendai’s fabrication facilities in Malaysia,
Dubai and India, and was scheduled to be completed by April 2016. It is also a
major breakthrough for Eversendai as it allows us to strategically position for
future contracts with Reliance Industries Ltd in India.
5)
Capital Mall
Entered
into a conditional sale and purchase agreement with Tropicana City Sdn. Bhd for
the acquisition of Tropicana City, comprising the following, a four (4) storey
shopping mall known as “Tropicana City Mall” with a net lettable area of
approximately 448,248 sq ft as at 15 January 2015 and a twelve (12) storey
office building known as “Tropicana City Office Tower” with an NLA of
approximately 101,246 sq ft as at 15 January 2015 for a total purchase
consideration of RM540.0 million. The properties are erected on a piece of land
measuring approximately 36,607 square metres, or approximately 394,034 square
fee.
As
at 15 January 2015, the Retail Mall and the Office Tower have committed
occupancy rates of 89.2% and 100.0% respectively, which is higher than the
average occupancy of 82.1% and 76.3% for shopping malls and offices,
respectively, in Selangor as at 30 June 2014
The
Proposed Acquisition will further strengthen CMMT‟s position as a sizeable, well geographically diversified
shopping mall real estate investment trust in Malaysia. Following the
completion of the Proposed Acquisition, CMMT‟s property asset value will increase by approximately 16.7%
from approximately RM3.2 billion to approximately RM3.8 billion.
There
was no disclosure on the gearing level for the mode of financing of the
Proposed Acquisition, hence the Proposed Acquisition may or may not be
immediately yield accretive. Hold
6)
Market: Global uncertainties and generally weak economic growth numbers will
continue to weigh on markets. Expect the early part of the week to continue to
be dominated by profit taking in O&G counters which staged a significant
technical rally last week.