FBMKLCI
1705.03pts -13.17pts
(-0.77%) Volume 2.129b Value RM 1.851b
1) The KLCI slipped 13pts (-0.77%) today as global
markets remain jittery overnight dragged by weaker oil prices and mixed reporting
season in the U.S. Regions were mixed with SHCOMP +1.14% leading in gains
followed by NIKKEI +0.42% while the ASX -0.65%, HSI -0.37% closed lower.
BANKING -1.01% weighed the index lower as heavyweights CIMB -3.36%, AMBANK
-2.97%, PBBANK -0.53%, MAYBANK -0.34%, RHBCAP-1.58%, HLBANK -0.42% all declined
as the Ringgit weakened to RM4.2805. Market breadth was negative as losers
outpaced gainers by 623 : 290. Market futures closed at 1692pts (13pts
discount).
2) Heavyweights : CIMB -3.36% RM4.89, IHH -2.28% RM6.41,
GENM -2.50% RM4.28, PBBANK -0.53% RM18.60, AMBANK- 2.97% RM4.89, GENTING -1.23%
RM7.18, MAYBANK -0.34% RM8.61, IOICORP -0.90%.
3) DBT : IDEAL 7.027mil @ RM0.40 (3.78% PUC), GPACKET
1.5mil @ RM0.10, BIOHLDG 1.212mil @ RM0.29.
4) Situational:-
MMCCORP -1.30%/ NCB -1.36% RM4.35 - MMC Corp Bhd proposes
to acquire a 53.42% equity interest in NCB Holdings Bhd from Permodalan
Nasional Bhd (PNB) and AmanahRaya Trustees Bhd for RM1.105 billion, triggering
a mandatory general offer (MGO). MMC Corp and its subsidiary MMC Port Holdings
Sdn Bhd announced that it had entered into a conditional sale of shares
agreement with PNB and AmanahRaya Trustees whereby MMC Port will acquire 251.2
million NCB shares at RM4.40 per share. MMC Corp does not intend to maintain
the listing status of NCB on the Main Market of Bursa Malaysia Securities. The
two major business segments of NCB Group are port and logistics operations.
5) BINAPURI : announced that Bina Puri Sdn. Bhd, a
wholly-owned subsidiary of Bina Puri Holdings Bhd. had accepted the letter of
award from PRPC Utilities And Facilities Sdn. Bhd. on 13 October 2015 to
undertake the project known as "UTILITIES, INTERCONNECTING, OFFSITE (UIO)
FACILITIES: ENGINEERING, PROCUREMENT, CONSTRUCTION AND COMMISSIONING (EPCC) OF
MAIN CONTROL BUILDINGS AND LABORATORY BUILDINGS (PACKAGE 14-1701)" at
contract sum of RM234.12m in Pengerang, Johor. The completion period is 30
months. With the latest award, the Group's unbuilt book order stands at RM2.80b
( with RM1.17b projects in 2015 ytd ); +ve, said project is expected to
contribute positively to the net assets and earnings of Bina Puri Group for
FY2016. The group is still actively tendering for various projects both locally
and overseas. The order book replenishment has been encouraging, which could
provide earnings visibility till 2017. However, while the group has an
estimated pipeline GDV of RM3bn in its property development division, we are
cautious on the outlook of property development as the market sentiment has
deteriorated further after the sharp fall in Ringgit & the crude oil price.
6) Market : The FBMKLCI is poised for further
consolidation and could continue to trade sideways within 1,680-1,720 points
this week with downside-bias. All eyes on the upcoming Budget 2016 to provide
some leads on market direction.
