FBMKLCI
1710.47 -6.34 (-0.37%)
Volume 1.350b Value RM1.431b
1) The KLCI was broadly lower today inline with the
weaker Wall St overnight as the Greek debt overhang clouded the stronger US
economic data. Regional bourses were negative led by China which declined as
leverage investors unwind bets on more margin clamp down by the banks, HSI fell
-1.78%, HSCEI -2.82%, ASX -1.54%, STI -0.86%, NIKKEI -0.31%. CONSTRUCTION
-1.75% index continued its decline for a 2nd day today weighed by heavyweights
GAMUDA -3.49%, IJM -1.61%, WCT -2.02%. Market breadth was negative as gainers
trailed to losers by 345 : 441. Futures closed at 1705pts (5pts discount).
2) Heavyweights : PBBANK -0.95% RM18.72, MAYBANK -1.07%
RM9.22, CIMB -1.25% RM5.50, MISC -3.00% RM7.76, DIGI -0.91% RM5.40, PCHEM
-0.63% RM6.25, TENAGA +0.79% RM12.66, TM +1.06% RM6.67.
3) DBT: SYF 27mil
@ RM0.425 (4.41% PUC), CNI 4.715mil @ RM0.05, LIENHOE 4mil @ RM0.30, YINSON
2mil @ RM0.295.
4) Situational:-
TGOFF 0.00% RM0.47 - Tanjung Offshore Bhd (TOB), an oil
and gas services (O&G) provider, is exploring opportunities to venture into
brownfield development. TOB was in discussions with two international oil
operators to form a consortium or partnership to go into brownfield
development. The company would also look into the possibility of venturing into
neighbouring countries such as Indonesia, Vietnam and Myanmar and South-East
Asia at large.
5) SELPROP
1H Apr 2015
Tover RM46.3m Net RM65.2m EPS
19c
The Group recorded a profit before tax of RM68.0 million
for the current year-to-date under review as compared to RM164.4 million for
the preceding year corresponding year-to-date, mainly due to the recognition of
profits for disposal of equity interest in HIC Group of RM113.1million. During the 1H other operating income amounted
to RM63.8m
The delay in the new launches has resulted in lower
revenue and currently the property development division is incurring some
losses. The new launching for Bukit Permata project is expected to be in the
3rd quarter of 2015.
Note: The company has also a disposal of 25,686 square
meters held under Geran 70133, Lot 56495 Kuala Lumpur, announced by the Company
on 30 September 2014.
Completion Date under the SPA, the Payment Deadline shall
be 15 August 2015 and the Extended Payment Deadline will be three (3) months
after the Payment Deadline or such other mutually agreed extended period. The
net profit on sale amounting to RM376.2 million has not been recognised in the
Group accounts.
Going forward the
proposed development of the Group's land in Damansara Heights will designed to provide integration and
connectivity with the Mass Rapid Transit project will become the main earnings
driver.
6) Market – Main factors in play next week will be the
possible Fitch Watch rating findings and likely 1H closing actions.