FBMKLCI
1831.97 +5.66%pts
(+0.31%) Volume 2.166b Value RM2.039b
1) The KLCI closed
higher following the strong rebound in oil prices which helped the US recover
from its triple digit losses. In the regional market, bourses were stronger
after China's plans to expand the investment scope of pension funds which would
channel money into the stock market, SHCOMP +0.41% and HSI +0.77% continued its
winning streak and the NIKKEI gained +1.46% as the yen weakened. In the local
scene, TECHNOLOGY +0.88% index picked up in the 2nd half to outperform the rest
of the segment as INARI +1.82%, GTRONIC +2.26%, VITROX +2.47% gained. Market
breadth was positive today as gainers outpaced loser by 466 : 326. Futures
closed at 1835.5pts (3.5pts premium).
2) Heavyweights : GENTING +2.15% RM8.99, PBBANK +0.63%
RM18.92, MAYBANK +0.64% RM9.40, GENM +2.17% RM4.23, YTL +1.79% RM1.70, IHH
-1.50% RM5.89, TENAGA -0.41% RM14.30.
3) DBT: INGENCO
20mil @ RM0.17 (2.09% PUC), HIAPTEK 8mil @ M0.40 (1.115 PUC), HIBISCS 4.7mil @
RM0.63 (19.8% discount), YINSON 2.5mil @ RM2.70
4) Situational:-
BRAHIMS +5.35%
RM0.885 - Brahim's Airline Catering Sdn Bhd (BAC) has entered into an extension
agreement with Malaysia Airlines which extends its new catering agreement (NCA)
cut off date to April 30. Brahim's Holdings Bhd said this was to facilitate
negotiations for the NCA, with the cut off date extended from March 31. The EA
is to give more time for the parties to negotiate and conclude the NCA with a
common goal to expedite the signing.
5) CMSB : announced that it had on 2 April 2015 entered
into a conditional share purchase agreement with the Sarawak State Financial
Secretary for the proposed acquisition of 42.4m ordinary shares of RM1.00 each
in Sacofa SB (representing 50% of the
issued and paid-up ordinary share) for a total purchase consideration of
RM186.8m to be satisfied entirely in cash. Sacofa is principally involved in
telecommunication infrastructure and services, including all its related
businesses. It was granted a 20-year concession to build, manage, lease and
maintain telecommunication towers in Sarawak by the State Government on 5 March
2002. Sacofa leases its towers to the local telecommunication players, being
Celcom, DiGi and Maxis, and has strong earnings visibility due to its position
as the sole provider of telecommunication towers. The purchase consideration
will be satisfied entirely in cash from internally-generated funds and/or bank
borrowings; +ve, CMSB is a major player in the state's infrastructure and
economic developments. Proposed acquisition is strategic and as Sacofa is
already income-generating, the acquisition is expected to be income accretive.
6) Market : The bearish-bias readings from the key
indicators and cautious investor sentiments suggest that the local bourse may
stage a pullback from the recent upswing. Range bound trading expected between
1800-1840 points.
