Friday, January 30, 2015

Market Roundup | 29 January 2015


 

 

FBMKLCI   1782.18pts    -13.70pts (-0.76%)      Volume 1.886b   Value 2.229b

 

1)  The KLCI traded in negative territory to close 13pts lower following the weaker U.S market overnight which pulled back after the Fed's stance to remain patient and watch the data before deciding to raise interest rates. In the regional market, bourses were inline with global sentiments as the NIKKEI -1.06%, HSI -1.07%, SHCOMP -1.31% fell after oil prices continue to fall to 6 year lows following higher inventory in US supplies. In the local scene, TECHNOLOGY -1.33% and INDUSTRIAL -1.16% index were the 2 biggest loser weighed by VITROX -6.12% RM2.76, GHYSYS -5.45%, INARI -1.43% , DNEX -4.47% and PCHEM -3.57%, LAFMSIA-0.99%, VS -8.46% respectively. Market breadth was largely negative today as losers outpaced gainers by 581 : 262. Futures closed at 1772.5 (10 pts discount).

 

 

2) Heavyweights : TENAGA -1.62% RM14.56, PCHEM -3.57% RM5.13, AMBANK -4.11% RM6.30, SIME -1.57% RM9.40, GENM -3.41% RM3.96, CIMB -1.07% RM5.50, AXIAT +1.12% RM7.22, YTL +2.92% RM1.76.

 

 

3) DBT: TENAGA 112mil @ RM14.50 (1.98% PUC, blocked sold by Khazanah), STAR 10mil @ RM2.52 (1.35% PUC), SUNREIT 9.633mil @ RM1.54, YINSON 1.5mil @ RM2.78

 

 

4) Situational:-

 

MITRA -1.69% RM1.16 - Mitrajaya Holdings has clinched a RM229.87 million contract from Putrajaya Homes Sdn Bhd to build three blocks of public apartments for "Perumahan Penjawat Awam 1 Malaysia" in Precinct 5, Putrajaya. The 36-month deal involves the construction of 1,062 units of public apartments and two blocks of multi-level parking and common facilities.

 

 

5)ALAM : announced that Alam Hidro (M) Sdn Bhd, a wholly-owned subsidiary had received a Letter of Award from a reputable local main contractor for the Provision of Air / Saturation Diving Services for inshore repair and maintenance project in Kedah for a total contract sum of approximately RM10m. The Contract is to commence on 15 February 2015 and expected to be completed by 31 March 2015; +ve, contract is expected to contribute positively to the earnings for FY2015. However, we remain cautious on the OSV segment in view of softening dayrates and lower demand. Management is cautious given uncertainties with Petronas' capex and work plans. Their view is that the oil & gas services providers may need to wait until late 1Q15 to have better clarity. There should still be pockets of offshore installation & construction (OIC) and subsea works opportunities for Alam to tap into, as the group has the relevant experience and key assets. Trading at 8x FY12/15 - Hold.

 

 

6)Market : With the lack of short term catalyst and monetary policy easing by Singapore to affect the near-term sentiment, the FBMKLCI is likely to continue to consolidate with a downward bias, towards it's the 1770 points level.