FBMKLCI
1805.10 -15.87pts (-0.87%) Volume 1.556b Value RM1.971b
The KLCI closed at its day low inline with the weaker US
market overnight as stocks retreated after Fed's Chairman warns of valuation
risks. Regional bourses were weaker as SHCOMP
-2.77% led in losses on fears of regulators reducing leverage in stock
trading, HSI -1.27%, NIKKEI -1.23%, HSCEI -1.64%, ASX -0.82%, STI -0.86% all
closed in the red. In the local scene, INDUSTRIAL -1.09% index lost the most
grounds today weighed by heavyweights SIME -1.97%, PPB -2.82%, BAT -1.46%
followed by the CONSTRUCTION -1.08% index, as IJM -2.18%, GAMUDA -0.38%, WCT
-2.18% closed lower. Market breadth was negative as losers beat gainers by 437
: 319. Futures closed at 1792 (13pts
discount).
2) Heavyweights : TENAGA -1.54% RM13.98, SIME -1.97%
RM8.94, CIMB -1.17% RM5.88, GENTING -1.76% RM8.92, AXIATA -6.68% RM1.03%,
MAYBANK -0.65% RM0.82, GENM -2.04% RM4.32, PBBANK -0.20% RM19.32.
3) DBT: GENM 38.182mil @ RM4.41, KENANGA 36.514mil @
RM0.65 (4.99% PUC @ 12.8% discount), HARTA 14.163mil @ RM7.67 (1.75% PUC @ 5.4%
discount), YINSON 5mil @ RM2.79 (6.1% discount).
4) Situational:-
CYPARK +2.63%
RM1.95 - Cypark Resources Bhd, which expects to sign the concession agreement
with the government for its waste-to-energy (WTE) project in Ladang Tanah
Merah, Negri Sembilan, by the middle of this year, will continue to bid for
more projects in the renewable energy (RE) and waste-to-energy areas. The
Ladang Tanah Merah project is expected to contribute about RM100 million
annually or RM2 billion over a 25-year concession period starting from 2017
when the facility is completed. The project will be a significant boost to
Cypark's current revenue, which is around RM200 million to RM300 million.
5) PChem
1Q Mar 2015
Tover -18% RM3.14bn Net -20%
RM605m EPS 8sen
8%
below Cons(f) RM2.62bn
Group's revenue was lower by RM666 million or 17% at
RM3.1 billion compared to the corresponding quarter as the lower average
realised product prices offset higher sales volumes and favourable exchange
rate movement.
Profit for the quarter was lower by RM167 million or 20%
at RM672 mil mainly due to narrower product spreads. Accordingly EBITDA,
declined by RM129 million or 10% at RM1.1 billion.
The sharp fall in crude oil and ethylene prices compared
to the corresponding quarter affected olefins and derivatives product prices
which trended lower across the board.
Operationally, the segment recorded plant utilisation of 95% , however
revenue for the quarter was lower by RM766 mil or 27% at RM2.1 billion as a
result of lower average realised product prices. Profit for the quarter
declined by RM225 million or 38% at RM364 million attributable to thinning
spreads in line with lower product prices.
Fertiliser & Methanol plant utilisation rate surged
from 67% to 87% driven by a marked improvement in methane gas supply
availability and better plant reliability at its methanol facilities. Driven by stronger operational performance,
revenue for the segment rose by RM73 million or 7% at RM1.1 billion. Profit for
the quarter was higher by RM48 million or 20% at RM290 million largely due
higher sales volumes.
Trim as market conditions remain challenging and stock
has out performed YTD +7%.
6) Market - Jitters to prevail with rising bond yield and
ahead of another important job data report out of the US tomorrow.