FBMKLCI
1612.74 +11.04pts (+0.69%) Volume 2.120b Value RM 2.321b
1) The KLCI extended its gain for a 4th consecutive day
inline with global markets following stronger revised 2nd quarter US GDP and
higher oil prices which surged 10.3% overnight. Regional bourses were mostly
positive led by SHCOMP +4.90%, NIKKEI +3.03%, ASX +0.58% as the PBOC intervened
in supporting both the Yuan and blue-chip equities whilst HSI -1.04% bucked the
trend on profit taking activities late in the session. CONSTRUCTION +1.08%
index gained the most grounds led by GAMUDA +1.88%, IJM +0.8%, MUHIBBAH +4.49%.
Market breadth was positive with gainers beating losers by 463 : 381. Futures
closed at 1612pts (parity).
2) Heavyweights: CIMB +2.46% RM5.00, MAYBANK +1.27%
RM8.76, SKPETRO +6.83% RM1.72, GENTING +2.39% RM6.85, PCHEM +1.68% RM6.07,
PETGAS +1.72% RM21.32, AMBANK +3.07% RM4.70, GENM +1.80% RM3.96.
3) DBT: DESTINI 200mil @ RM0.58 (24.75% PUC @ 1.69%
discount), BARAKAH 10.0mil @ RM0.85 (2.94% discount), PINEPAC 7.3mil @ RM0.12
(4.87% PUC @ 42.86% discount), GTRONIC 2.3mil @ RM5.70
4) Situational:-
TM -0.15% RM 6.49 / TIMECOM +1.52% RM6.02 - Telekom
Malaysia Bhd has signed a construction and maintenance agreement with Time
DotCom Bhd's unit, TT dotcom Sdn Bhd, to develop and construct a new submarine
cable system, Sistem Kabel Rakyat 1Malaysia. TM said the agreement was to establish
the rules which governed the implementation and management of SKR1M. Upon the
signing of the agreement, TM and TTdC are now ready to move to the next step of
the SKR1M cable system project. The duration of the agreement is 20 years or
will expire upon the retirement of SKR1M, whichever is earlier.
EDGENTA +3.9% RM3.13 - UEM Edgenta Bhd and Resource Data
Management Asia Sdn Bhd have formed a joint-venture company, Edgenta Energy
Services Sdn Bhd, to offer comprehensive energy management solutions. UEM
Edgenta is an asset solutions player and Resource Data Management Asia, a unit
of Resource Data Management, is a global controls and monitoring company. In a
joint statement, UEM Edgenta's Managing Director/Chief Executive Officer, said
the JVC provided an opportunity for UEM Edgenta to scale up its energy
management business and leverage on RDM's technical expertise and experience in
this industry.
5) MUHIBBAH : FY06/15 Rev-10% RM773.5m Net+3% RM42.5m EPS
9.52s
Results
trails, making up 44% of cons RM97m
The marginally lower revenue revenue & PBT were in
line with the overall global economic environment. As at end August, total
outstanding secured OB stands at RM2.1b. The group's operations in Cambodia has
substantially completed its expansion program to cater for growth in Siem Reap
International Airport and Phnom Penh International Airport. Both the crane
& airport divisions are beneficiary of the USD appreciation as most of
their revenues are in USD. For 2015, the group has commenced work on 2 projects
in RAPID for a total contract value of RM275m. The construction division has
also further secured works for Northport and Westport. Ahead, the group could
be among the prequalifiers of MRT 2 elevated civil works for which tenders will
begin in 4Q15 and it has spare capacity to undertake new highway jobs such as
the subcontract works for the West Coast Expressway (WCE) - Accumulate for more
positive newsflow in 2H15.
6) Market : Technically, we reckon that the FBMKLCI could
continue on its reversal play route towards the 1627 points level in the
near-term. However, all eyes will be on developments on the political rallies
over the weekend to provide direction for next week.