FBMKLCI
1820.87 +5.01pts
(+0.28%) Volume 1.887b Value 2.034b
1)
The KLCI closed at its day high despite the flattish US overnight after a
strong performance by selected bluechips, MISC, MAYBANK following a firm set of
results. In the regional market, bourses were also stronger led by the SHCOMP
+2.15% on speculation that the government will add more stimulus to spur the
economy, HSI and NIKKEI both gained 0.50% and 1.08% respectively. In the local
market, the Technology index +1.05% outperformed the rest of the market boosted
by UNISEM +2.88%, MPI +3.21%, VITROX +5.17%, CUSCAPI +12.82%. Market breadth
was positive with gainers outpacing losers by 503 : 347. Futures closed
at 1818.5pts (2pts discount).
2)
Heavyweights : MAYBANK +1.55% RM9.16, MISC +3.40% RM8.51, TENAGA +0.83%
RM14.50, TM +1.71% RM7.10, PBBANK +0.43% RM18.38, GENTING +1.24% RM8.98, SIME
-1.36% RM9.37, CIMB -1.18% RM5.83.
3)
DBT: CAP 24mil @ RM0.26 (4.00 PUC), BJFOOD 20mil @ RM2.90 (5.38% PUC), NICE
12.1mil @ RM0.105 (5.19% PUC), CIHLDG 8.95m @ RM1.12 (19% discount, 5.5% PUC)
4)
Situational:-
INTEGRAX
+6.62% RM3.22 - : Tenaga Nasional Bhd has raised the takeover offer price for
port operator Integrax Bhd from RM2.75 to RM3.25 a share. The power giant said
on Wednesday that based on Integrax’s audited consolidated net assets per share
of RM1.97 as at Dec 31, 2012 and RM2.06 as at Dec 31, 2013, the revised offer
was a price-to-book ratio of 1.65 times and 1.58 times.
5)
IHH
FYE Dec 2014 Tover +8.7%
RM7.34bn
Net +19.5%
RM754.3m
EPS 9.24sen
Cons(f) RM764m
The revenue increase was primarily driven by higher inpatient
admissions and revenue intensities from existing operations; and the commencement of
operations of the newly opened hospitals, Acibadem Atakent Hospital in Turkey
and Pantai Hospital Manjung in Malaysia. EBITDA growth was driven by higher
revenue, and included the recognition of a revaluation gain for PLife REIT’s
investment properties of RM52.7 million and a divestment gain of RM36.4 million
from its sale of seven Japanese nursing homes in December 2014. PATMI
(excluding exceptional items) was up 25% to RM 704.1 million.
The current expansion of existing facilities and the opening of
new facilities across its home markets, will deliver more than 9,000 new beds
by 2017 driving future revenue growth. Trading at 58x PE and low ROEs the
future growth prospects and market leader premium looks to be fully priced in
at current levels. We recommend a trim into strength.
6)
Market – KLCI to see profit taking around the 1830pts levels and expected to
consolidate around the 1800-1830pts range. Trading activity to continue to
remain focused on export oriented industries benefiting from the weaker
currency.