FBMKLCI
1795.85 -7.80pts (-0.43%) Volume 2.131b Value RM1.772b
1) The KLCI closed at day low erasing earlier gains
despite the stronger US market and record setting run. In the regional scene,
bourses were generally stronger led by the SHCOMP +1.95% which extended its winning streak to
9th consecutive day after regulators deemed the rally as rational due to improving
economic conditions of China. HSI +0.49%, NIKKEI +0.99%. Locally, INDUSTRIAL +
0.98% products was the biggest gainer today helped by PCHEM +4.29%, TOPGLOV
+2.27%, LAFMSIA +0.61% while the CONSUMER index -0.83% lost the most grounds
after heavyweights PPB -1.73%, QL --5.35%, BAT -1.31% fell ahead of consumption
dampener from GST. Market breath was negative as losers led gainers by 436 :
373. Futures closed at 1789 (7pts discount).
2) Heavyweights : TENAGA-2.46% RM14.24, GENTING -3.15%
RM8.30, PBBANK -0.96% RM18.42, GENM -1.67% RM4.10, KLK -1.68% RM22.14, PPB
-1.73% RM14.72, PCHEM +4.29% RM5.34, TM +1.56% RM7.13.
3) DBT: YTLPOWR
7mil @ RM1.49, SMRT 3mil @ RM0.53, IMASPRO 2.36mil @ RM1.70.
4) Situational:-
PESONA +0.61% RM0.825 - Mid-sized contractor and
developer Pesona Metro Holdings Bhd is tipped to be the frontrunner for a
contract worth RM250.0m in the Klang Valley. Sources said the final
announcement for the mixed project should be out soon, without giving a
definite timeline. According to Pesona, the company is targeting to boost it
order book to RM1.0b from RM580.0m since it expanded its capacity last year.
The contract would be the company's second win this year.
HUNZPTY +10.95% RM2.33 - Its major shareholder has
proposed to take the Penang-based property company private at RM2.50 a
share. Hunza said on Friday the board
had received a letter from Khor Teng Tong Holdings Sdn Bhd (KTTH), which owns
32.30%, to undertake a selective capital reduction (SCR) and repayment exercise
under the privatisation exercise. Under the corporate exercise, Hunza will
undertake the SCR and repayment exercise to all shareholders except the
non-entitled shareholders who own a combined 41% or 92.289 million shares. Hunza also said its current paid-up is
RM225.08mil shares comprising of 225.05 million shares. The proposed SCR would
reduce the paid-up by RM230.72mil by cancelling the 230.72 million shares.
5) IHH
IHH Healthcare Berhad announce that Gleneagles
Development Pte Ltd, an indirect wholly-owned subsidiary of the Company, acquired and subscribed 71,085,224 ordinary
shares for a total consideration of
RM166.73m representing 51% equity
interest therein in Continental Hospitals Limited. The principal activity of
CHL is delivering primary, secondary, tertiary and quaternary healthcare
services.
This is inline with its recent acquisition spree after
its indirect subs Parkway Life REIT entered into a silent partnership agreement
to acquire five nursing homes in Japan for JPY5.9bil (RM182mil) earlier and it
had also called off its bid to acquire
Radlink-Asia Ptd Ltd as it was blocked by the Competition Commission of
Singapore.
+ve but we feel most of the good news has been priced in
with its 20% gain YTD and valuation of 40x PE.
6) Market - Domestic issues and weaker commodity prices
continue to weigh down the KLCI despite generally bullish global markets YTD
brought on by loose monetary policies. This scenario is unlikely to change in
the medium term with the market cont bouncing btw 1780-1830pts