FBMKLCI
1579.60 +7.06pts (+0.45%) Volume 2.254b Value RM 2.112b
1) The KLCI bucked the regional trend today following the
stronger US market overnight as investors digested the mixed manufacturing data
before the release of Fed minutes tomorrow. Region bourses were largely
negative as the SHCOMP slumped 6.15% on fears that PBOC may look into another
devaluation of the Yuan, HSI -1.43%, ASX -1.20%, STI 0.58%. Trades were mostly
mixed today as TECHNOLOGY +2.87%stocks
rebounded boosted by INARI +3.42%, GTRONIC +4.28%, MPI +5.46% while the
CONSTRUCTION -2.22% index lost the most grounds dragged by GAMUDA -5.06%, IJM
-1.96%, MUHIBBAH -3.78%. Market breadth was neutral with even gainers and
losers 409 : 407. Futures closed at 1570 (9pts discount).
2) Heavyweights : MAYBANK +2.93% RM8.43, AXIATA +1.04%
RM5.79, DIGI +1.42% RM5.00, CIMB +0.81% RM4.94, TENAGA +0.57% RM10.46, SIME
+0.75% RM7.96, AMBANK +1.42% RM5.00, SKPETRO -2.33% RM1.67.
3) DBT: PLENITU 10mil @ RM 1.50 (2.62% PUC), EKIB
5.129mil @ RM0.80 (5.58% PUC), TMS 2.05mil @ RM0.14.
4) Situational:-
SCOMI 0.00% RM0.275 - Scomi Energy Services Bhd has
secured an RM113.5m three-year contract from PTTEP International Ltd (PTTEPI)
Myanmar. Scomi Energy said the contract was to provide drilling fluids together
withsolids control products, equipment and engineering solutions contract. It
covered Phases 1B and 1C of the Zawtika Development drilling campaign and work
was expected to commence in the fourth
quarter this year.
BERTAM +16.07% RM0.65 - Bertam Alliance Bhd has completed
its RM46.0m acquisition of three parcels of land in Sabah from Nadi Hasil (M)
Sdn Bhd. The company said this following the company's announcement on October
13 last year on the deal, which was entered into by its unit Bertam Development
Sdn Bhd. The acquisition is in line with Bertam's strategy to replenish its
landbank to generate long-term sustainanble income and viability.
5) CBIP
1H June 2015
Tover -5% RM233.3m Net -11%
RM39.8m EPS 7.5sen
5% below
cons(f) RM83.8m
The decrease in the Group's revenue was mainly due
to lower
project billing by the special purposes vehicles segment, down by 46% as compared to
the same period last year. The palm oil
mill equipment segment reported higher revenue and profit before taxation by 8%
and 11% respectively as compared to the
same period last year. The increase in profit was mainly due to the
improvement in project billing and profit margin.
The combined result of the associates and joint venture
declined to a loss from a combined profit in the same financial period last
year. The loss was mainly due to lower prices of palm products.
The group's ability to replenish its orderbook this year
has been its key share price driver, however planters are likely to rein in
capex with CPO prices remaining weak for the balance of the year. Price has
come off to fair valuations however industry prospects look unexciting with
depressed commodity prices.
6) Market - Evidence of support buying by main GLC funds
today has stabilized the market and could signal a short term technical
rebound. This bounce however could be short lived with the domestic and foreign
issues overhang hence we continue to recommend a sell into strength esp towards
the 1630pts level on the KLCI.