FBMKLCI
1647.15pts +7.52pts
(+0.46%) Volume 2.286b Value RM 2.390b
1) The KLCI continued its winning streak today closing
0.46% higher despite the weaker US overnight as investors remain wary ahead of
the 2-day Fed meeting later this week. Region was weaker led by SHCOMP -3.52%
as the broad market fell albeit thin volume amid growth concerns, ASX -1.53%,
HSI -0.49%, STI -0.94%. CONSTRUCTION +2.45% index continue to outperform in the
market gaining the most grounds led by IJM +4.08%, GAMUDA +2.19%, WCT +4.83%,
MUDAJYA +7.47%. Market breadth was neutral as gainers and losers were even at
432 : 415. Market futures closed at 1637pts (10pts discount).
2) Heavyweights :
TENAGA +1.67% RM12.16 , AXIATA +1.32% RM6.14, MAYBANK +0.70% RM8.57, SIME
+1.03% RM7.78, TM +1.49% RM6.80, AMBANK +1.70% RM4.76, IOICORP +0.99% RM4.06,
DIGI -1.43% RM5.50.
3) DBT: AEMULUS
9mil @ RM0.28, (2.05% PUC @ 29.2% discount), SUNREIT 9mil @ RM1.53.
4) Situational:-
AEMULUS +41.07%
RM0.395 - New listed Aemulus Holding Bhd opened at RM0.36 (28.5% above its IPO
price of RM0.28) and surged to a high of RM0.445 before closing at RM0.395 with
over 92mil shares traded in the market today. Aemulus’ IPO comprises a public
issue of 87.79 million new shares and an offer for sale of 43.89 million
existing shares. Upon listing, Aemulus has an expanded issued share base of
438.85 million shares.
5) SKPETRO
1H July Tover
-1.49% RM5,061.7m Net -61.8%
RM365.5m EPS 6.11sen
cons(f) RM1,050m
Yoy, revenue of RM5,061.7m was 1.5% lower. The decrease
was mainly driven by weaker due to Energy division-33% yoy. PBT of RM397.5mi
was 65.9% lower as there was impairment on oil and gas assets totaling RM539.9
mil. Excluding provision the Group recorded PBT of RM937.3million,which was
5.1% lower than corresponding period.
Qoq, Revenue of RM2,803.5million was 4.0% higher than
Q1FY16. The increase in the current quarter revenue was mainly due to higher
contribution from newly executed international projects from the E&C
division, and additional contribution from new rigs which were not in
operation. Excluding provision the Group recorded PBT of RM601.0mil, being an
increase of RM74.3million or 14.1% against RM526.7 million in Q2 FY2015.
Skpetro PE is reasonable at 10.6xFY16 backed by orderbook
of RM25.5bn. Accumulate
6) Market - Expect market direction to be dictated by the
global outlook from the upcoming Fed Reserve meeting. Selling resistance is
expected following recent rally.