FBMKLCI
1580.37 +16.43pts
(+1.05%) Volume 2.150b Value RM
2.274b
1) The KLCI index trended higher for a 2nd day shrugging
off the weaker US market overnight that reversed 500pts lead to close in the
red. Regions were mixed as the HSI -1.52% and SHCOMP -1.27% led the region in
losses despite PBOC's 2nd tranche of injection of 140b Yuan within 2 days,
HSCEI -0.91%, STI -0.21%, NIKKEI +3.2%, ASX +0.69 however closed in green.
INDUSTRIAL +1.29% index gained the most grounds today
boosted by heavyweights SIME +4.63%, PPB +1.21%, MISC +0.49%, HAPSENG +0.37%.
Market breadth was neutral with even gainers and losers today at 407 : 407.
Market Futures closed at 1567.5 (12.5pts discount).
2) Heavyweights :
TENAGA +4.55% RM11.02, SIME +4.63% RM7.45, MAYBANK
+2.28% RM8.50, PBBANK +1.59% RM17.84, KLK +2.26% RM20.80,
SKPETRO +4.08%
RM1.53, AXIATA +0.49% RM6.15,
3) DBT: APPASIA 13.5mil @ RM0.135 (4.80% PUC), MAGNA
10mil @ RM0.80 (3.00% PUC @ 14.5% discount), UTOPIA 5.538mil @ RM0.035.
4) Situational:-
CLIQ +0.00% RM0.66 - Cliq Energy Bhd said its proposed
acquisition of a 51.0% equity interest in Phystech II from Kazakhstan-based
Phystech Firm LLP meets all its investment criteria. Its managing
director/chief executive officer said the company had conducted a stringent
economic evaluation and sensitivity analysis on the proposed acquisition amid
the depreciating ringgit and oil price volatility
5) CMSB
1H June Tover +14.7% RM867.8m Nte -7% RM98.1m EPS 9.3sen
22%
below cons(f) RM249.3m
The Group reported a total revenue of RM867.84 million
for 1H15, an increase from the corresponding period of last year’s (1H14)
revenue of
RM756.60 million. The Group’s 1H15 profit after tax and
non-controlling interests (PATNCI) and earnings per share (EPS) stand at
RM98.08 million and 9.30 sen respectively. It is a marginal decline compared to
1H14’s record figures of RM105.11 million and 10.22 sen respectively which had
benefited from the impact of land sales in 1H14. The main contributors towards
the PBT earnings for 1H15 were the Cement, Construction Materials & Trading
and Construction & Road Maintenance Divisions. The Cement Division recorded
a PBT of RM54.59 million in 1H15, a 7% decrease in comparison to 1H14’s PBT of
RM58.77 million. The Construction Materials & Trading Division reported an
increased PBT of RM48.34 million for 1H15, exceeding 1H14’s PBT of RM28.92
million by 67%. The Construction & Road Maintenance Division also recorded
improved PBT earnings of RM46.89 million to contribute towards the Group’s
results for 1H15. CMSB’s 25% stake in the joint venture ferro silicon and
manganese alloys smelter project with Australian listed OM Holdings Ltd, and
40% stake in an integrated Phosphate Products complex with Malaysian Phosphate
Additives Sdn Bhd and Arif Enigma Sdn Bhd are expected to drive immediate
earnings higher.
Given current market conditions and rich valuations 20x
current yr and 16x fwd, the stock is likely to continue to see selling pressure
especially after reporting a relatively weaker qtr. Immediate support seen ard
the
RM4.50 lvls.
6) Market – Continued month end closing action is
presenting a sell into strength opportunity especially on last two days
outperformers, TNB, PChem, Sime.
Immediate resistance seen btw 1585-1600pts levels.
