FBMKLCI
1729.05 -10.40pts (-0.60%) Volume 1.329b Value RM1.465b
1) The KLCI closed at its day low following the weaker US
and European overnight as the Greece debt saga and timing of a US rate hike
continue to weigh on sentiment. Regional bourses were mostly lower after
SHCOMP-0.36%, HSI -1.20%, HSCEI -1.79% fell following the weaker inflation
data. NIKKEI -1.76%, ASX -0.49%, STI -0.60%, JCI -2.30% were lower too. Local
mkt was softer as the TRADING/SERVICES -0.88% index lost the most grounds dragged
by heavyweights MAXIS -2.77%, TENAGA -1.19%, TM -1.78%, SKPETRO -2.64%,
WPRTS-2.66%. Market breadth was negative as losers thumped gainers by 605 :
221. Futures closed at 1717 (12 discount).
2) Heavyweights : TENAGA -1.19% RM13.20, MAXIS -2.77%
RM6.65, CIMB -1.13% RM5.24, SKPETRO -2.64% RM2.58, TM -1.78% RM6.60, GENTING
-0.84% RM8.18, PCHEM -0.80% RM6.18, PBBANK +0.32% RM18.74
3) DBT: HIBISCS
5.78mil @ RM0.6869, RPB 1.55mil @ RM0.38
4) Situational:-
DOLPHIN +5.14% RM0.715 - The palm oil machinery
fabricator made its debut at its high of RM0.79 from its IPO price of RM0.68
before closing at RM0.715 with 51mil shares traded in the market. Raising over
RM31mil, the company said it would utilise more than 50% of the proceeds for
factory expansion and working capital. The rest will be used to set up a
research and development facility and repay bank borrowings. The listing would
place the company in a stronger position to tap into Malaysia and Indonesia's huge
palm oil milling machinery market
5) BINA DARULAMAN : announce that its wholly owned
subsidiary; BDB Infra Sdn Bhd had received a Letter of Acceptance dated 01 June
2015 from Jabatan Kerja Raya Negeri Kedah (JKR) for the project of state road
maintenance for the period of three 3 years in districts of Kota Setar/Padang
Terap, Kuala Muda/Sik, Kubang Pasu, Kulim/Bandar Baharu, Pendang/Yan and
Baling. The total contract for the project inclusive of GST is RM 209.9m. The
project shall be for 36 months from the date of site possession of 10 June
2015; +ve, the project is expected to
contribute positively to the Group earnings for the financial years ending 2015
until 2018. It was earlier reported that the group is also keen on bidding for
the construction of the Kulim International Airport reported to cost some
MYR1.6b. However, no bids for the project have been submitted as authorities
are yet to finalize the terms of the proposed airport. The group also mentioned
that it targets to launch three mixed-development projects in Jitra, Sungai
Petani and Kuala Ketil this year, with a gross development value of MYR350m.
6) Market : Sentiment is expected to remain bearish as
the Ringgit slid to a nine-year low against the USD. Technical indicators
remain negative with little sign of a rebound. With the lack of fresh
catalysts, we reckon that the key index is likely to trade sideways in the
range of 1720-1760 for the week.
