FBMKLCI
1854.77 -8.03pts (-0.43%) Volume 2.737b Value RM2.123b
1) The KLCI traded
the day in negative territory with investors taking a breather after
yesterday's rally and falling oil prices on easing tensions in the Middle East
after Saudi Arabia ended its military campaign. Regionally, the SHCOMP +2.47%,
NIKKEI +1.13% both closed at multi-year highs and HSI +0.30% on continuing
optimism from PBOC's weekend stimulus and Japan's better than expected export
data whilst ASX -0.6% after CPI date matched expectations dampening the case of
rate cut next month. In the local scene, the TECHNOLOGY INDEX -0.99% lost the
most grounds dragged by UNISEM -3.85%, INARI -0.86%, JCY -1.27%, GHLSYS -1.69%.
Market breadth was negative with losers thumping gainers by 564 : 293. Futures
closed at 1847.5 (7pts discount).
2) Heavyweights : SIME -0.86% RM9.27, IOICORP -1.36%
RM4.36, GENM -1.57% RM4.38, PBBANK -0.31% RM19.62, MAXIS -0.98% RM7.10, AXIATA
-0.57% RM6.98, CIMB -0.48% RM6.24, BAT -1.65% RM65.50.
3) DBT: UTOPIA
35.696mil @ RM0.01 (3.61% PUC @ 77.78% discount), OMESTI 10.0mil @ RM0.45
(2.58% PUC @ 18.18% discount), PESONA 10.0mil @ RM0.88 (1.91% PUC @ 6.38%
discount).
4) Situational:-
VSOLAR +7.04% RM0.38 - has signed a collaboration
agreement with Japan's Eastasia Group Co Ltd to develop commercial solar farms.
Vsolar will provide engineering, procurement and construction solutions for the
development. This is part of the loss-making firm's diversification plans by
expanding into the renewable energy development business. Vsolar, formerly
known as Fast Track Solution Holdings Bhd was previously a provider of software
solutions in the information technology segment.
IJM +0.27% RM7.40 - has bought the remaining shares in
its joint venture, Aura Hebat Sdn Bhd from partner Perennial Penang Pte Ltd for
an undisclosed amount. AHSB is in the process of acquiring a 32.76-acre
(13.2ha) parcel of land located within IJM Corp's existing The Light Waterfront
development in Penang. AHSB will acquire the land from Jelutong Development Sdn
Bhd, an 80%-owned subsidiary of IJM Properties for RM402.8 million cash. The
land will be developed into a large-scale integrated waterfront mixed-use
project comprising a shopping mall and thematic shops, residential towers, an
office tower, two hotels and a convention centre with a total gross floor area
of about 4.1 million sq ft. The Light Waterfront development is an integrated
project, spreading across 152 acres located on the eastern coast of Penang
island.
5) ECONBHD : announced that its wholly-owned subsidiary,
Econpile (M) Sdn. Bhd has on 21 April 2015, received a Letter of Award from TWY
Development Sdn Bhd to undertake earthworks, piling and pilecaps and basement
works of a proposed service apartment together with podium and basement project
in Mont' Kiara, Kuala Lumpur. The contract is valued at RM29.4m and will last
14 months, to be completed July 2016; +ve, as project is expected to contribute
to earnings throughout the duration of the work. This is the 8th major piling
job that Econpile has secured since its listing last June. With this job,
Econpile has secured RM 413m worth of new jobs for YTD FY15F. With this job, we
estimate Co's outstanding order book at cRM559mil, which will keep the group
busy over FY15F/16F. It is a strong beneficiary of rising job flows, with a
strong execution and concerted efforts to improve margins; Accumulate.
6) Market : Improved sentiment from the recent
strengthening of the Ringgit and crude oil prices should support the index in
the near-term. Immediate support seen at 1840 pts while 1880 pts the next
resistance.
