FBMKLCI
1849.39 -0.92pts (-0.05%) Volume 1.799b Value RM1.790b
1) The KLCI closed
flat today following the mixed US market overnight after differing views by the Fed before release of
jobs data tonight. In the regional scene, bourses were stronger led by HSI
which gained 2.7% after mainland investors flood the market with the new
exchange link established, NIKKEI +0.75% while SHCOMP -0.93% and ASX -0.48%
fell marginally. In the local scene, PROPERTIES index gained the most grounds
today boosted by UEMS +2.96%, ECOWLD +2.87%, SPSETIA +0.87% after jitters over
the impact of GST subsided. Market breadth was positive with gainers beating
losers by 479 : 374. Futures closed at 1844 (5pts discount).
2) Heavyweights : PBBANK -0.72% RM19.12, PPB -3.53%
RM15.28, MAYBANK -0.62% RM9.49, TM -1.07% RM7.39, IOICORP +2.42% RM4.65,
GENTING +1.08% RM9.30, YTL +1.78% RM1.71, GENM +1.14% RM4.41.
3) DBT: GENTING
27.475mil @ RM9.18 (0.73% PUC), THHEAVY 10mil @ RM0.335, OCK 3mil @ RM0.93,
YINSON 1mil @ RM2.95
4) Situational:-
CBIP +3.5% RM2.07 - CB Industrial Product Holding Bhd
(CBIP) has been awarded an RM49.8m contract from United Plantations Bhd to
design a palm oil mill at Ulu Bernam. Subsidiary Modipalm Engineering Sdn Bhd -
had received the letter of award to design, supply, fabricate, deliver to site,
erect, test, commission and guarantee performance for construction of a
60-tonne fresh fruit bunch per hour palm oil mill at Ulu Bernam.
5) KNM
KNM announce that its wholly owned subsidiary, KNM
Process Systems Sdn Bhd, had successfully secured new awards for YTD 2015, for
about USD56.67 Million (equivalent to about RM204m) for i) Pengerang Integrated
Petroleum Complex Project - from Toyo Group, for supply of Columns, Reactors, Drums
and Tanks totaling USD33.53 million and from Tecnicas Reunidas Group for supply
of Reactors, Columns and Pressure Vessels totaling USD15.17 million, ii)
Turkmengas Petrochemical Complex Project from Toyo Engineering Corporation
Japan, for USD7.97 million for supply of Towers. The contract period for the
Projects runs between 12 months to 18 months.
+ve as are able to continue to replenish order book with
emphasis on EPC/RAPID contracts. The company is also looking to build recurring
income in the Renewable Energy space and we expect further news flow on this
front in the weeks to come. Trading at a fair valuation of 9x current year,
sizeable contract wins could be a catalyst help push it out of the current
trading range of btw 60c-80c. Incidentally its Rights plus warrant acceptance
closes next Monday 13th April. Accumulate at lower end of its trading range.
6) Market: Momentum in mid caps to continue to grow in
the weeks ahead buoyed by the liquidity flushed environment.