FBMKLCI
1722.16 -12.12pts (-0.70%) Volume 1.547b Value RM1.517b
1)
The KLCI was 5pts lower before hit down at close saw index close -12pts weighed
by PCHEM, IHH, PPB, GENTING at the end of the session. Regional bourses were
inline with the weaker global sentiments as SHCOMP -2.00% led in losses amid
more margin financing tightening worries in the mainland, HSI fell -1.53%, STI
-0.88%, ASX -0.12%. Local ACE mkt -4.44% led in losses as intense profit taking
took a toll on selective counters namely, IFCAMSC -19.19%, OPENSYS
-10.39%, OCNCASH -9.75%, NOVAMSC -9.37%; TECHNOLOGY -2.65% index also fell
following weakness amongst, INARI -2.89%, UNISEM -4.11%, GHLSYS -8.85%. Market breadth
was negative with losers thumping gainers by 777 : 150. Futures closed at 1714
(8pts discount).
2)
Heavyweights : SKPETRO -6.56% RM2.42, DIGI -2.50% RM5.46, FGV -11.29% RM1.65,
PCHEM -1.93% RM6.08, IHH -1.69% RM5.80, PPB -2.48% RM14.92, GENTING -1.19%
RM8.25, MAXIS -1.21% RM6.53.
3)
DBT: BCB 22.553mil @ RM1.00 (10.935% PUC @ 3.6% premium), BJLAND 9.4mil @
RM0.69, SHH 5.577mil @ RM1.40 (11.15% PUC @ 9.3% premium).
4)
Situational:-
FGV
-11.29% RM1.65 - Share price fell to its day low after Felda Global Ventures
Holdings Bhd (FGV) announced that it is acquiring a 37% stake in PT Eagle High
Plantations Tbk – the third largest plantation group listed in Jakarta – for
US$631.5 million (RM2.37 billion) cash and 95.44 million new FGV shares, representing
2.55% of the enlarged and issued share capital of the group.
5)
MMHE
Secured
RM324 million worth of contracts from Petronas Carigali Sdn Bhd (PCSB), Hyundai
Heavy Industries Co Ltd, MISC Bhd and EA Technique (M) Bhd. The contracts are
for offshore structural component fabrication work, hook up and commissioning
and related topside construction work for facilities improvement project, as
well as, for marine repair and conversion works.
The first
contract was from Hyundai Heavy Industries for the fabrication of substructures
and bridge for the Baronia CPP-B project, offshore East Malaysia. The second
contract saw MMHE appointed as Petronas Carigali Sdn Bhd contractor for the
Facilities Improvement Project Package C: Peninsular Malaysia offshore
operations. The third contract is a repair life extension project and
dry-docking for two liquefied natural gas (LNG) carrier vessels for MISC namely
"Puteri Intan" and "Puteri Delima". The last contract is
for the conversion of a vessel into a floating, storage and offloading facility
for EA Technique.
+ve as news
flow is slowly turning around for the company with downside risk limited esp
trading now down to 0.7x P/Bk.
6)
Market – Weak bias to continue as foreign n domestic issues send investors
sidelined.
