FBMKLCI
1813.37 -5.05pts (-0.28%) Volume 1.644b Value RM1.820b
1) The KLCI traded sideways to close in the red before
the release of important US GDP data tonight. In the regional scene, bourses
were mixed as the NIKKEI closed -0.95% lower, HSI -0.04% closed flat while the
SHCOMP +0.24% continued to erase losses from the earlier part of the week. In
the local scene, O&G names saw profit taking despite oil prices surging 5%
overnight on Yemen unrest, MHB-5.5%, SKPETRO -1.25%, UMWOG-3%, PERISAI -3.41%.
Market breadth was marginally negative as losers inched gainers by 391 : 353.
Futures closed at 1811pts (2pts discount).
2) Heavyweights : TENAGA -1.79% RM14.20, DIGI -1.59%
RM6.19, CIMB 0.00% RM6.14, IOICORP -1.29% RM4.57, BAT -1.93% RM68.04, GENM
+1.69% RM4.19, PBBANK +0.32% RM18.66, KLK +1.54% RM22.86.
3) DBT: REDTONE
70.099mil @ RM0.80 (10.477% PUC), CRESBLD 58.97mil @ RM1.18 (35.370% PUC acq by
SC Yong Holdings), INGENCO 39.4mil @ RM0.075 (4.131% PUC), AIRPORT 10m @ RM9.30
4) Situational:-
ECONBHD +0.50% RM0.995 - Econpile Holdings Bhd has
received a letter of award from Flora Development Sdn Bhd to undertake
earthworks, piling and basement structure works of a proposed mixed use
development in Selangor. The contract is valued at RM54.5 million and will be
for a period of 18 months.
5) YINSON
FYE 01/2015
Tover +145% RM1.08bn Net +77%
RM247.5m EPS 20.3c
Excl
exceptional 8.4% above Cons(f) RM143m
The company recorded RM100m net profit for the 4Q which
is now comparable with most of its mid/big cap players in the O&G sector.
Full year results included exceptional items amongst were realized and
unrealized gain on forex of RM30.4m & RM60.5m respectively, gain on
disposal of asset RM20.9m. The company also allocated RM14m for impairment of
receivables. The company declared a final div of 1.5c.
The company remains our top pick in the sector with its
appeal in its long term FPSO contracts spanning 5-15yrs and low counter party
risk exposure. Full impact of its current FPSO contracts will be realized in
FY18 with the deployment of its Ghana FPSO and valuations will dip close to
single digit PE valuations. Accumulate.
6) Market - Maintain current trading band as focus remain
on the timing of US monetary tightening.