FBMKLCI
1639.47pts -29.98pts
(-1.80%) Volume 1.599b Value RM 1.868b
1) The KLCI slipped -1.80% today following the weaker US
market before the weekend as investors digested Fed's dovish strategy to
maintain rates. Region was mixed today with the SHCOMP +1.89% bucking the trend
while the HSI -0.75%, HSCEI -1.29%, ASX -2.02% fell ahead of the Sept Flash PMI
data that would be released this Wednesday. Broad market faced profit taking as
the FINANCE -2.08% index lost the most
grounds weighed by MAYBANK -3.33%, CIMB -3.43%, AMBANK -5.25%, PBBANK -0.64%.
Market breadth was negative with losers beating gainers by 526 : 274. Futures
closed at 1630pts (9pts discount)
2) Heavyweights :
MAYBANK -3.33% RM8.41, CIMB -3.43% RM4.78, GENM -7.55% RM4.04, IOICORP -5.44%
RM3.82, GENTING -4.00% RM7.43, AMBANK -5.25% RM4.69, MISC -3.93% RM8.31, DIGI
-2.08% RM5.64.
3) DBT: KINSTEL
3mil @ RM 0.135, SUNSURIA 2.842mil @ RM0.80, HWANG 1.075mil @ RM1.80.
4) Situational:-
LAFMSIA -1.93% RM9.11 - Lafarge Malaysia Bhd is buying
the entire stake in Holcim (Malaysia) Sdn Bhd (HMSB) from PT Holcim Indonesia
Tbk for RM330 million following the recent merger of their respective ultimate
holding companies. As a result, the proposed acquisition is proposed to
facilitate the consolidation of the businesses of manufacturing and sale of
cement, ready-mixed concrete and other related building materials of
LafargeHolcim in Malaysia under LMB. LMB said the proposed acquisition will
increase the group's cement plants annual installed production capacity by 9.2%
to 14.14 million tonnes from 12.95 million tonnes. LMB said the the proposed
acquisition is expected to deliver synergies in terms of operations, cost and
capital expenditure.
WCT +0.74% RM1.36
- WCT Holdings Bhd has been awarded an infrastructure works contract at Kwasa
Damansara worth RM127.39 million. WCT Bhd, accepted a letter of award from
Kwasa Land Sdn Bhd for common infrastructure works at Kwasa Damansara Township
Development in Sungai Buloh. The job scope consists of site clearance and site
preparation, including earthworks, roadworks, road furniture, drainage works,
sewerage reticulation and sewerage treatment plant, water reticulation, park
and ride facility, electrical infrastructure works, and soft and hard landscape
works. The works are to be completed by Oct 8, 2017.
5) ENRA
Entered into a Heads of Agreement with AWT International
(Asia) S/B with the intention of collaborating to form a Special Purpose
Vehicle , to be the project management vehicle on well, platform and field
abandonment/decommissioning projects with any direct or indirect subsidiaries
of PETRONAS or Malaysian oil and gas operators and to provide project
management, technical engineering services and other technical support and all
assets, machine, equipment and related services for the Malaysian Opportunities
and/or any operations outside Malaysia mutually agreed by the Parties
(hereinunder defined) whether via the SPV or any other entity in which the
Parties have equity interests. The Parties also propose to subsequently enter
into a Shareholders Agreement in relation to the Proposed Collaboration,
whereby the SPV's ratio of equity breakdown between AWT and ENRA shall be
49%:51% respectively.
AWT has the engineering expertise and know-how, capabilities
and services, and business opportunities, associated with the development of
oil, gas and alternative energy assets. AWT proposes to provide at competitive
international market rates project management and technical engineering
services and other technical support set out in the HOA to secure, undertake
and execute the Malaysian Opportunities.
Market - Expect cont pull back in the KLCI after its
recent sharp run as uncertainties prevail over the US int rate hikes and also
fear of slowing global growth. Immediate support 1600pts lvls.