FBMKLCI
1609.21 -3.53pts (-0.22%) Volume 2.055b Value RM 2.598b
1) The KLCI saw volatile trading swinging to a high of
+47.48pts (+2.94%) & low of -9.49pts (0.59%) before closing in the red
inline with the weaker global markets. Regional bourses were lower as the
weaker China PMI weighed on the indices as HSI -2.24%, SHCOMP -1.23%, ASX
-2.12%, STI -1.37%. Bank names led the index lower as the FINANCIAL index fell
-0.70% dragged by CIMB -320%, AFG -5.05%, RHBCAP -1.69%. Market breadth was marginally
negative as losers edge gainers by 400 : 369. Futures closed at 1556.5pts
(52pts discount).
2) Heavyweights :
CIMB -3.20% RM4.84, DIGI -2.86% RM5.08, KLK -2.01% RM20.40, IOICORP -1.50%
RM3.94, BAT -1.89% RM61.00, GENTING +4.23% RM7.14, SKPETRO +4.07% RM1.79, MISC
+1.60% RM8.23.
3) DBT: UTOPIA 5.146mil @ RM0.035, XINQUAN 1.5mil @
RM0.40, CWORKS 1.0mil @ RM0.26
4) Situational:-
KNM -3.12% RM0.465 / CYPARK +0.68% RM1.47 - KNM Group
Bhd's wholly-owned subsidiary KNM Process Systems Sdn Bhd via SHK Consortium
has been awarded a RM268.38 million contract by Cypark Sdn Bhd to undertake
engineering, procurement, construction and commissioning (EPCC) works at Ladang
Tanah Merah, Negri Sembilan. The project is with respect to the solid waste
modular advanced recovery and treatment systems waste management solutions. The
total EPCC contract price comprises the offshore portion for the EPCC works in
the sum of RM135.38 million and onshore portion of RM133 million.
5) FELDA
Felda Global Ventures Holdings Bhd, is apparently
considering seeking revised terms for its $680 million deal to buy a stake in
PT Eagle High Plantations Felda may ask for a lower price to take into account
issues discovered during due diligence on the Indonesian company.
Final terms of the definitive agreement are expected to
be announced by Oct. 31.
Felda said in June it planned to buy 37 percent of Eagle
High from Indonesian conglomerate Rajawali Group for $680 million in cash and
shares. That implies an enterprise value of about $17,400 per hectare of land,
compared with the $25,900 that Sime Darby Bhd. paid for New Britain Palm Oil
Ltd. in March
6) Market - With immediate technical objective achieved,
the market could trend sideways at best between 1580-1600pts points but remains
susceptible to external shocks which could see a retest of the 1530pts levels
with medium term indicators continuing to point to a -ve bias market.
