FBMKLCI
1656.5pts -5.03pts (-0.30%) Volume 2.418b Value RM2.025b
1) The KLCI closed at its day low as the KLCI futures
plunged 20pts amid weaker global sentiments as falling oil prices overshadowed
the earning recovery in the US. Regions were mixed with the SHCOMP -1.01%, HSI
-0.34%, STI -1.05%, HSCEI -0.18% fell while the ASX +0.29%, NIKKEI +0.09%
closed marginally higher. Penny names continue to dominate as names such as
INSTACO +15.21%, CAP +5.88%, JADI +5.55%, IDMENSN -4.54% led the most active
stocks. Market breadth was negative with decliners beating gainers by 516 :
400. Market futures fell to 1645pts (11pts discount).
2) Heavyweights : MAYBANK -0.72% RM8.18, PBBANK -0.55%
RM18.00, TENAGA -0.45% RM13.02, PETGAS -0.35% RM22.70, CIMB -0.65% RM4.54,
GENTING -0.97% RM7.13, AXIATA -0.48% RM6.15, PCHEM +0.92%.
3) DBT : SKPRES 11mil @ RM1.45, BAHVEST 7mil @ RM0.93,
TALIWORKS 2mil @ RM 1.48, SUPERLN 1mil @ RM1.95
4) Situational:-
MAHSING +2.19%
RM1.40 - Mah Sing has signed a Framework Agreement (FA) for RM500.0m interest
free vendor financing from Stone Master Corp Bhd for building finishing
materials (which include natural stones, ceramic tiles, sanitary wares and
other building finishing materials). Any part of the RM500.0m vendor financing
utilized within this 18 months will be interest free and payable over 5 years
in 60 equal instalments, which shall commence within 30 days upon physical
completion and handing over for the work. This deal will provide MAHSING with
better cash flow management, which is essential during current challenging
times or especially for integrated projects. Hold.
5) LAFMSIA : 9mths 09/15 Rev-2% RM2.03b Net RM207.8m EPS
24.4s Div 24s
Results trails, making up 69% of cons RM301m
For 9 months yoy, PBT was 2% higher despite a marginal
drop in revenue. This was contributed by improved plant performance &
higher forex gains. The group's interest income of RM4.4m was lower than the
RM8m last year, due to the lower amount of funds placed on short term deposit.
The group recorded RM7.2m loss from share of associate vs RM1.3m last year due
to keen competition. Qoq,PBT was 11% higher, mainly contributed by the cement
segment. Ahead, outlook remains positive in 2015, driven by the continued
progress of key infrastructure projects and on going commercial &
residential developments - We believe that domestic cement demand should remain
resilient in FY15, in line with the construction sector's GDP growth forecast
of c7%. Nonetheless, we remain cautious on the cement players' earnings outlook
given the persistent intense competition which will likely result in a price
war. This is due to the expected 14% capacity expansion in Peninsular Malaysia
until FY16 - Hold.
6) Market : While there is improvement on key momentum
indicators, the listless performance of the key index could continue into the
week. With the lack of catalyst, the local bourse is likely to range between
the 1640-1680 range.
