FBMKLCI
1609.93 -26.78pts
(-1.64%) Volume 2.490b Value RM 2.292b
1) The KLCI fell for a 5th consecutive day inline with
weaker global market as Chinese govt devalued the Yuan for a 2nd day dragging
most regional currencies lower . Regional bourses followed suit as the STI
-2.95% led in losses, followed by HSI -2.38%, ASX -1.67%, NIKKEI -1.58%, ASX
-1.67%. Broad market saw a sell off as the TECHNOLOGY -5.03% index led in
losses dragged by INARI -6.47%, JCY -5.22%, MPI -4.87%, while the CONSTRUCTION
index continue to slump another 3.72% as heavyweights IJM -4.46%, GAMUDA
-1.37%, WCT -6.97% fell. Market breadth was largely negative with losers
towering over gainers by 973 : 96. Futures closed at 1601pts (9pts discount).
2) Heavyweights : PBBANK -1.51% RM18.20, TENAGA -1.81%
RM10.80, SKPETRO -7.30% RM2.03, CIMB -2.17% RM4.94, MAYBANK -1.29% RM 8.41,
GENM -4.53% RM3.79, IHH -2.57% RM5.68, AMBANK -3.99% RM5.05.
3) DBT: KPOWER
2.77mil @ RM0.43 (4.92% PUC), HHHGROUP 1.596mil @ RM0.08, TGOFF 1.138mil @
RM0.35.
4) Situational:-
MMC -4.30% RM1.78 - MMC Corporation Bhd is selling three
parcels of land, totalling 188.7 acres, in Johor to a unit of the AME Group for
RM370.0m. The land is owned by MMC's unit, Senai Airport City Sdn Bhd, and will
be sold to AME Group's wholly owned subsidiary IPark Development Sdn Bhd. The
proceeds from the sale of the land would be used to reduce its borrowings.
GOB -1.03% RM0.48 - Global Oriental Bhd's (GOB)
wholly-owned unit, Pertanian Taman Equine Sdn Bhd, will dispose of 7.7ha of
leasehold land in Mukim Petaling, Selangor, to Kemaris Residences Bhd Bhd for
RM43.3m. The proposed disposal is expected to be completed within six months
from the unconditional date or nine months from the sale and purchase date,
whichever is later.
5) Barakah
Announce that its wholly-owned subsidiary company, PBJV
Group Sdn Bhd, has received the Letter of Award from PETRONAS Carigali for the
Supply, Refurbishment and Maintenance of Cleaning Pig and Associated Services.
The Contract comprises the supply, refurbishment, and
maintenance of cleaning pig and associated services in Sabah and Sarawak. The
Contract duration is two years from 26 June 2015 to 25 June 2017; with one year
extension option from 26 June 2017 to 25 June The total value of the Contract
will depend on the actual work orders to be issued by PCSB from time to time
during the Contract period. Barakah management estimates that the value of the
Contract to be approximately RM20 million to RM30 million, based on the current
estimated work programme.2018. The scope
is part of PCSB's yearly Operational Pigging Programme.
+ve and we remain relatively positive over players like
Barakah who operate on an asset light model hence are not burden with the high
overheads in the current slow down. BOW.
6) Market - The KLCI has experience a 8% fall in the past
8 trading days and is overdue for a technically rebound ard the 1600pts levels
with RSI dipping to 20 barring any further negative surprises. However with
medium term outlook remaining challenging, most funds could take this
opportunity to sell into strength and restructure portfolios.
