FBMKLCI
1755.56 +0.51pts (+0.03%) Volume 1.616b Value RM1.904b
1) The KLCI swung between a 4pts trading band before
closing flat as the US/Europe mkt rebounded on rumours of Greece coming to a
deal to settle its debt repayment on the 5th of June. Regional bourses were
negative weighed by the SHCOMP which fell -6.50% as brokerage firms tightened
lending restrictions and increased margin requirements, HSI lost -2.23%, HSCEI
fell -3.53%. In the local scene, CONSUMER product index lost the most grounds
dragged by heavyweights BATS -1.59%, CARLSBG -1.56%, TCHONG -2.64%. Market
breadth was negative as losers beat gainers by 420 : 324. Futures closed at
1751pts (4.5pts discount).
2) Heavyweights : PBBANK +0.95% RM18.96, IOICORP +1.50%
RM4.05, CIMB +0.53% RM5.66, GENTING -1.16% RM8.50, TENAGA -0.44% RM13.34, DIGI
-0.70% RM5.66, BAT -1.59% RM62.98, MAYBANK -0.32% RM9.11.
3) DBT: BCB 19.8mil @ RM0.90 (10.66% PUC), MAYBANK 10mil
@ RM9.10, JAYCORP 3.058mil @ RM0.70
(2.22% PUC), JAKS 2mil @ RM0.705
4) Situational:-
DIALOG-1.80% MR1.63
/ MISC -0.95% RM8.26 - Petronas is not planning to renew its lease to
store gasoil at Tanjung Langsat Terminal (One) in Johor, southern Malaysia,
once its contract ends in late May. This would leave about 70,000 cu m of
gasoil space ideal at the terminal.
MEGB +0.82% RM0.61 - Masterskill Education Group Bhd has
revised its plans for utilising proceeds from the sale of its property assets
by adding a RM20.0m dividend payout to shareholders. MEGB has revised only
RM34.2m of the RM79.7m proceeds to be used as working capital and RM25.5m for
repaying borrowings.
5) WCT
WCT entered into a sale and purchase agreement with Elite
Asia Pacific Sdn Bhd for the acquisition of three pieces of vacant freehold
lands all located in Klang, at a total purchase consideration of RM118m. The
total land area of these three pieces total 7.902hec . The Lands are located
adjacent to their current Laman Greenville development and next to another
existing 32 acres commercial development land .
This acquisition gives WCT the option to combine the Lands together with
our existing Commercial Land for potential future integrated developments with
a GDV of approximately RM2.7billion.
The company's overall performance in the property
division has been disappointing thus far with 1Q sales missing guidance
substantially. This development in Klang is expected to help boost numbers as
it is primarily targeted at the affordable market segment which is expected to
be more resilient in the current slowdown. Neutral.
6) Market - Uninspiring 1Q numbers and domestic
uncertainties will continue to weigh down the KLSE. At best a consolidation is
expected around the 1730-1775pts ahead any fresh leads.
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