FBMKLCI
1691.92 -18.55
(-1.08%) Volume 1.676b Value RM1.713b
1)
The KLCI continued to head south hitting a 22point day low in morning session
and ended the day below the important 1700 physcological level on worries over
a Greek default and looming Fitch review. Regional bourses also plunged on the
negativity shrugging off fresh stimulus from China with SHCOMP -3.29%, NIKKEI
-2.88%, HSI -2.61%, ASX -2.23%. The TECHNOLOGY index was the biggest decliner
led by INARI -3.31%, UNISEM -3.40%, MPI -3.68%. Market breadth was negative as
losers thumped gainers by 823 : 126. Futures closed at 1687pts (5pts
discount).
2)
Heavyweights : CIMB -3.46% RM5.31, PBBANK -0.96% RM18.54, PCHEM -2.72% RM6.08,
MAYBANK -0.87% RM9.14, GENTING -1.48% RM8.01, IHH -1.59% RM5.58, TM -1.65%
RM6.56, SKPETRO -2.49% RM2.35.
3)
DBT: APFT 7.642mil @ RM0.205 (10.41% PUC), SYF 11.9mil @ RM0.425 (4.58%
PUC @ 8.24% premium), MSPORTS 15mil @ RM0.11 (2.9% PUC).
4)
Situational:-
SENDAI
-3.76% RM0.895 - bagged contracts worth RM250 million in Malaysia, India and
the United Arab Emirates (UAE), surpassing the RM1 billion mark for new
projects secured in the first half of 2015. It has secured a contract for the
the installation of structural steel, metal deck and shear studs, as well as
connection design, detailing and temporary engineering for the Dhirumbai Ambani
International Convention and Exhibition Centre in India. The scope of work for
the project involves erection of structural steel works, and is expected to be
completed in December 2016.
SEDANIA
+9.21% RM0.415 - Sedania a mobile telecommunication airtime share (ATS)
transfer services provided opened trading today hitting a high of 49.5sen with
31.3m vol transacted. IPO involved the sale of 51.47 million new shares at 38
sen each for its listing on Bursa Malaysia's ACE Market. Company intends to expand
its customer base by tying up with other telecommunication companies.
5) YINSON
The Company received a letter of offer from Liannex Labuan Limited
to acquire its non O&G subs. Liannex Labuan is a special purpose private
limited company incorporated in Labuan, and is wholly-owned by Yinson majority
shareholder and founder Mr Lim Han Weng and Madam Bah Kim Lian.
Liannex Labuan offers to pay RM228.0 million for the equity
interest in the following companies held by YHB as well as the repayment of inter-company
loans owing to YHB by the said companies as a whole: Yinson Corporation Sdn
Bhd; Yinson Transport Sdn Bhd; Yinson Shipping Sdn Bhd; Yinson Port Ventures
Pte Ltd; Yinson Vietnam Company Limited; and 65% equity interest in Yinson
Power Marine Sdn Bhd.
+ve as this additional funds along with recently announced
proposed private placement will allow the company to possibly engage in M&A
activities for O&G assets when the market is depressed. BOW continues to be
our favorite O&G Company with its long term FPSO contracts providing
certainty in uncertain times.
6) Market – Risk off trade with Grexit possibility and Fitch
rating review looming could drive the KLCI towards the immediate strong support
levels of 1672pts where we feel the market should find a short term bottom for
the time being.