FBMKLCI
1734.24 +0.36pts (+0.02%) Volume 1.456b Value RM1.390b
1) The KLCI erased earlier losses to close in the green
following the flattish Wall St overnight as investors traded cautiously ahead
of the Greece austerity referendum this Sunday. Regional bourses were broadly
lower as China continue to slump as securities regulators clamp down on
suspected market manipulation, HSCEI fell -1.37%, ASX -1.10%, HSI -0.83%.
PROPERTY -0.51% market lost the most grounds amongst the index today weighed by
heavyweights SPSETIA -2.22%, MAHSING -1.87%, SUNWAY -1.14% while the broad
market faced similar pressure from profit taking. Market breadth was negative
today as losers outpaced gainers by 459
: 295. Futures closed at 1724.5pts (10pts discount).
2) Heavyweights : DIGI +0.91% RM5.53, GENTING +0.85%
RM8.28, GENM +0.95% RM4.24, KLK +0.62% RM22.44, PETDAG +1.16% RM20.80, CIMB
-1.08% RM5.48, ASTRO -1.97% RM2.98, PETGAS -0.46% RM21.50.
3) DBT: PERDANA 29.435mil @ RM1.55 (3.93% PUC), MERGE
8.2mil @ RM0.365 (12.23% PUC), KRETAM 8mil @ RM0.35.
4) Situational:-
GENM +0.95% RM4.24 - Genting Malaysia Bhd received
approval from its shareholders to sell its entire 17.81% stake in Genting Hong
Kong Ltd for at least RM1.7 billion in cash. Recently, its indirect
wholly-owned subsidiary Resorts World Ltd proposed to sell the entire 1.4
billion ordinary shares of US$0.10 each in Genting Hong Kong, representing
17.81% of the total issued and paid-up share capital of Genting Hong Kong, of
which the minimum disposal share price shall not be less than US$0.33.
5) GOB
Company has proposed to acquire remaining 35% equity
interest in Perwira Nadi Trading Sdn Bhd (PNT) for a total cash consideration
of RM27m. Upon the completion of the Proposed Acquisition, the Company will
hold the entire equity interest in PNT.
The principal business of PNT Group is the trading and
distribution of kitchenware products namely Corelle, CorningWare, Visions,
Pyrex, Rubbermaid, etc. in Malaysia.
The audited consolidated profit after taxation of PNT
amounted to RM10.09 million on the back of a revenue of RM44.67 million while
the audited consolidated net assets value of the PNT Group as at 31 March 2014
stood at RM30.25m. This value the acquisition at 7.6xPER
the Proposed Acquisition presents an opportunity for the
Group to consolidate PNT as its wholly-owned subsidiary company in order to
fully account for the revenue and profits of PNT Group. +ve
6) Market: Outcome of Greece referendum over the weekend
to dictate market direction next week. Any positive outcome could see KLCI
retest 1757-1778 levels