FBMKLCI
1729.53 -6.66pts (-0.38%) Volume 1.664b Value RM1.681b
1) The KLCI fell 6pts today following the weaker US
market overnight amid weaker earning reports. Regional bourses were inline with
global markets as ASX -1.61% led in losses, HSCEI -1.16%, NIKKEI -1.19% HSI
-0.99%, STI -0.38% while the SHCOMP gained +0.21%. TECHNOLOGY -1.06% index lost
the most grounds today weighed by UNISEM -2.44%, JCY -2.59%, MPI -1.81% as the
Ringgit strengthened against the USD. Market breadth was neutral with even
gainers and losers 403 : 409. Futures closed at 1721pts (8pts discount).
2) Heavyweights : SIME -1.72% RM8.53, DIGI -1.29% RM5.35,
AMBANK -1.73% RM5.68, GENM -1.38% RM4.27, KLK -1.39% RM22.68, MISC -1.36%
RM7.97, PBBANK -0.21% RM19.02, PETGAS +1.39% RM21.78.
3) DBT: TAKASO 18.464mil @ RM0.33 (9.03% PUC @ 34%
discount), DUTALND 16.813mil @ RM0.50 (1.98% PUC), DENKO 2.5mil @ RM0.40 (2.39%
PUC), BARAKAH 2mil @ RM0.91, SNTORIA 1mil @ RM1.00.
4) Situational:-
HIBISCS -0.62%
RM0.795 - Hibiscus Petroleum has failed to discover oil in the Haribo prospect
in PL616 located in the Norwegian North Sea after drilling was stopped at
3,388m below sea level. The well will now be plugged and abandoned, as the
targeted high porosity reworked chalk reservoir was not found. The estimated
post-tax cost of Hibiscus' net interest in the well is USD500,000 (RM1.9m).
5) TALIWORKS
Plans to undertake
a Proposed Share Split of the Group's Ordinary Shares as well as a Proposed
Free Warrants Issue.
The Proposed Share Split involves the subdivision of
every two (2) existing TCB Shares of RM0.50 each in Taliworks, into five (5)
Ordinary Shares of RM0.20 each.
The actual number of Shares to be issued upon
implementation of the Proposed Share Split would depend on the issued and
paid-up share capital of Taliworks as at the Entitlement Date, after taking
into consideration any shares to be issued prior to the Entitlement Date
pursuant to the exercise of up to 1.30 million options granted but unexercised
under the Company's existing Employee Share Option Scheme and the proposed
issuance of up to 43.99 million new TCB Shares.
The Proposed Free Warrants Issue meanwhile will involve
the issuance of up to 241.93 million Warrants on the basis of one (1) Warrant
for every five (5) existing TCB Shares held by the Entitled Shareholders
following the completion of the Proposed Share Split, exercisable at any time
within three years commencing on and including the date of issuance of
Warrants. The exercise price of the Warrants will be fixed at a premium of at
least 15.0% over the theoretical ex price of Taliworks' Shares before the
Entitlement Date and shall in no event be lower than the par value of the
Shares.
Both the Proposed Share Split and Proposed Free Warrants
Issue are expected to be completed by the fourth (4th) quarter of 2015.
6) Market - Immediate support looks to be set at the
1680-1700pts levels, news flow and next reporting period in Aug will drive
market direction as trading interest remains in export oriented companies
enjoying competitive edge from the weak RM.
