FBMKLCI
1806.09 -19.45pts
(-1.07%) Volume 2.139b Value 2.378b
(-1.07%) Volume 2.139b Value 2.378b
1)
The KLCI slumped 1% after the U.S market stalled at record highs
overnight as investors retreated to the sidelines before the ECB meeting and
China's NPC meeting today. In the regional scene, bourses were weaker today as
the SHCOMP -0.95% fell after the China's growth target was reduced to 7% from
7.4% signalling for the lowest expansion in 25 years, HSI also fell 1.11%. In
the local market, FINANCE-1.09% index lost the most grounds amongst the sector
weighed by heavyweights CIMB -3.54% RM5.72, PBBANK -1.06%, MAYBANK -0.75%
RM9.21, HLBANK -0.41%. Market breadth was negative today as losers outpaced
gainers by 556 : 288. Futures closed at 1798.5 (7.5pts discount).
2)
Heavyweights : CIMB-3.54% RM5.72, SKPETRO -7.19% RM2.45, PBBANK -1.06% RM18.62,
GENTING -2.52% RM8.50, PCHEM -0.73% RM5.39, MAYBANK -0.75% RM9.21, TENAGA
-0.54% RM14.64, PPB -2.54% RM14.58.
3)
DBT: JAG 6.2mil @ RM0.155, DESTINI 5mil @ RM0.595, LBICAP 2.3mil @ RM1.17
(3.14% PUC).
4)
Situational:-
SKPETRO
-7.19% RM2.45 - Tan Sri Mokhzani Mahathir and Yeow Kheng Chew have both
resigned from the board of SapuraKencana Petroleum Bhd, with citing personal
reasons. The company announced their resignations took effect on March 4.
Mokhzani resigned from his post as vice chairman of the oil and gas service
company while Yeow resigned from his post as a non-executive director.
FITTERS
+0.76% RM0.66 - Fitters Diversified Bhd will undertake the redevelopment of
Plaza Pekeliling along Jalan Tun Razak into a small office-home office concept
building. It said its unit Fitters Building Services Sdn Bhd had signed a sales
and purchase agreement with GCP Tower Sdn Bhd to purchase the existing building
with 70 parcels of office lots and 363 units of car park bays for RM28.28mil.
The building sits on a 2.3 acre (9,482 square meter) piece of land in prime
location along Jalan Tun Razak.
5)
ALAM
Alam Maritim has recently
received a Letter of Award from PETRONAS for a period of two years effective
from 29 January 2015 until 28 January 2017 with an extension option of one year
exercisable by PCSB, from 29 January 2017 to 28 January 2018.
This is for awarded seven
(7) out of the eight (8) packages offered by PCSB under the Umbrella Contract
and allows the Company to provide marine vessels for the following
categories: (i) Anchor Handling Tug / Supply Vessel (ii) Straight Supply
Vessel (iii) Fast Crew Boat (iv) Workboat (v) Work barge (vi) General
Purpose/Utility Vessel (vii) Platform Supply Vessel
The Contract shall enable
ALAM to provide the vessels, crew and associated equipment for continuous
24-hour operations. The total value of the Contract will depend on the actual
number of days the vessels are on-hire based on instructions from the PCSB from
time to time during the Contract period.
+ve but expect the
industry to continue to face headwinds with oil prices remaining persistently
low.
6) Market – BNM’s
MPS today decided to hold rates at 3.25% dashing any hopes of liquidity driven
rally as per the experience of other economies who have cut rates. The CI
likely to continue to drift and test the 1800pts levels lacking positive leads.