Market Roundup | 6 March 2015

  FBMKLCI   1806.96  +0.87pts
(+0.05%)      Volume 2.005b   Value 1.926b

 

1)The KLCI closed flat ahead of the widely anticipated jobs report tonight. In the regional scene, bourses were mixed as the NIKKEI +1.17% climbed to fresh 15 year highs on weaker YEN while the HSI -0.12% and SHCOMP -0.20% continue to fall as investors weigh on lower economic growth going forward. In the local scene, CONSTRUCTION +0.46% gained the most grounds led by IJM +1.54%, WCT +1.87%, MITRA +3.77%, KEURO +0.93% while the INDUSTRIAL products -0.57% lost the most grounds, PCHEM -2.04%, PETGAS -0.78%, JTIASA -1.63%. Market breadth was positive today as gainers beat losers by 454 : 361. Futures closed at 1800 (7pts discount).

 

2) Heavyweights : CIMB+1.74% RM5.82, IHH +1.27% RM5.55, TM +1.11% RM7.25, SIME +0.42% RM9.36, PCHEM -2.04%, YTL -3.03% RM1.60, SKPETRO -1.63% RM2.41, PETGAS -0.78% RM22.86.

 

3) DBT: INGENCO 20mil @ RM0.10 (2.09% PUC 33% premium), CHHB 5mil @ RM1.20, PERDANA 1.259mil @ RM1.19, SIGN 1mil @ RM1.93 (4% discount).

 

4) Situational:-

TENAGA  +0.13% RM14.66 - Tenaga Nasional Bhd’s (TNB) 1,071-megawatt (MW) power plant in  Seberang Perai, Penang is on  track for commercial operation on Jan 1, 2016. The RM2.5b project is currently 94.0% completed, said TNB. The power plant is built on the same site of TNB’s decommissioned Prai power station.

 

IOIPG -0.94% RM2.09 - KUALA LUMPUR: IOI Properties Group Bhd purchase plan of a 37.17% stake in Taipei Financial Centre, better know as Taipei 101, for NT$25.14bil (RM2.74bil) from Ting Hsin International Group has been cancelled. IOI Properties said on Friday the three months period for the seller and purchaser to obtain the foreign investment approval from the Investment Commission (FIA) of Taiwan expired on March 5.

 

 

5) Gent Plantations

The company today announced that was entering a pact with Musim Mas Group to start palm oil refinery in Sabah. Genting Pltn will take a 72% equity stake with the remaining belonging to Musim Mas. The refinery will have a capacity of 600k m/tns per year and is expected to be completed by 2H 2016. Total investment is estimated at RM300m.

 

6) Market – The KLCI flirted with the 1800pts levels today before bargain hunting lifted it in the afternoon. Expect these levels to be tested again with no major positive new flow on the horizon.