FBMKLCI 1736.62pts
-16.15pts (-0.92%) Volume
1.468b Value 1.411b
1)
The KLCI continued its losing streak for a 2nd day following the mixed U.S
market after ISM manufacturing data missed estimates before the release of Fed
Minutes later this week. In the regional market, bourses were mixed as the SHCOMP
+3.58% outpaced the rest of the region after China soared to 5 year highs with
commodity stocks defying falling oil prices to boost sentiments, while the HSI
-0.57% and NIKKEI -0.24% closed slightly below. In the local scene, FINANCE -
1.20% weighed on sentiments led by losses amongst PBBANK -2.19%, MAYBANK
-1.31%, CIMB -1.62%, and AMBANK -1.52% following the weaker ringgit. Market
breadth was negative with losers beating gainers by 502 : 271. Futures closed
at 1730 (6pts discount).
Heavyweights
: PBBANK -2.19% RM17.82, MAYBANK -1.31% RM9.00, PCHEM -3.53% RM5.19, CIMB
-1.62% RM5.46, IOICORP -1.66% RM4.72, GENTING -1.46% RM 8.73, GENM -2.225
RM3.96, SIME +0.88%,
3)
DBT : SOP 4mil @ RM4.50, SNTORIA-WA 3.665mil @ RM0.55 (4.96% PUC), LBICAP
3.12mil @ RM1.15 (4.30% PUC), TITIJYA 500k @ RM1.70
4)
Situational:-
IHH
-1.45% RM4.73 - IHH Healthcare Bhd is believed to be looking at acquiring an
11.5% associate stake in Bangkok Dusit Medical Services Pcl (BDMS), the largest
hospital operator listed on the Stock Exchange of Thailand, to gain a foothold
in Thailand. It is understood that the acquisition could be funded by a
combination of cash and issuance of new shares. The 11.5% stake in BDMS has a
market value of THB30.6b (RM3.3b) based on the last closing price of the
company’s shares at THB17.20. The acquistion will be funded internally and
externally, the quantum of which will be determined later by the company.
SNTORIA
0.00% RM1.22 - Sentoria Utara Sdn. Bhd. a 75% owned subsidiary of the Company,
has on 2 January 2015 entered into a sale and purchase agreement with Ideal
Appraisal Sdn. Bhd to land measuring approximately 304.605 acres in total
area for a purchase consideration of RM46.44m. the Lands are expected to
generate an estimated gross development value of approximately RM800 million.
Based on the purchase price only RM3.50/sq ft, the land cost works out to be
only 5.8% of the total GDV. This addition will push its GDV towards the RM10bn
mark. BUY
5)
EVERSENDAI
Secured
the Nas Arena contract worth RM44 million through its subsidiary company in
Dubai. The company was awarded the contract for the connection design,
fabrication, supply and erection of structural steel works for the Nas Indoor
Futsal and Volleyball Arena. The Middle East remains the main source of
contracts for the company with 80% of the past top line coming from this
region. Immediate prospects appear secured with its RM1.6bn order book however
there will be potential disappointments going forward from this area with oil
prices languishing. Underweight.
6)
Market – Selling momentum likely to continue as currencies slide against the
USD with concerns over Greece and its effects on the Euro. Immediate support
for the KLCI seen at 1720pts with a possibility of breaking below the 1700pts
again if these levels are not maintained.