FBMKLCI
1670.90pts +9.01pts (+0.54%) Volume
2.949b Value RM1.932b
1670.90pts +9.01pts (+0.54%) Volume
2.949b Value RM1.932b
1)
The KLCI closed 9pts higher today inline with the US market before the weekend
as stronger set of results amongst retailers indicated a recovery in consumer
spending. Regions were mixed as the HSI -0.39%, SHCOMP -0.56% & STI -0.39%
closed in negative territory while the ASX +0.39% and NIKKEI +0.10% closed
marginally higher. Rotational stocks outperformed today as names such as
IFCAMSC +3.72%, GOB +4.83%, EG +5.48%, BINTAI +15.00% recorded gains with
volume. Market breadth was neutral with even gainers and losers at 449 : 474.
Market futures closed at 1668pts (2pts discount). MYR weakened slightly to
RM4.3087.
2)
Heavyweights : TENAGA +2.28% RM13.42, MAYBANK +0.96% RM8.40, PBBANK +0.66%
RM18.22, PETDAG +3.30% RM25.00, CIMB +0.87% RM4.60, PCHEM +0.75% RM6.65, IHH
-0.91% RM6.50, AXIATA -0.48% RM6.13.
3)
DBT : BHS 10mil @ RM0.42 (2.38% PUC), PESONA 6.53mil @ RM0.47 (1.00% PUC),
SMTRACK 5mil @ RM0.09.
4)
Situational:-
SENDAI +3.42% RM0.905- Eversendai Corp Bhd has
bagged new contracts worth RM316mil through its subsidiary companies in Qatar,
India and Malaysia. This brings its year-to-date contract wins to
RM1.5bil.
- Qatar contract for structural steel roof construction of theme park at Doha Oasis Mixed Use Development
- Gets India contract for structural steel works of Statue of Unity in Gujarat
- Gets 3 contracts for Petronas Refinery and Petrochemicals Integrated Development, or RAPID, project in Pengerang, Johor
Counter
has been on a rerating bounce since early Sept and we expect this trend to
continue as it continues to win new contracts.
5)
JCY
FYE
Sep2015 Tover +3.7% RM1.94bn Net +90.6%
RM209.5m EPS 10.3sen
32% above cons(f) RM158.5m
JCY
ability to beat consensus numbers significantly largely stemmed from 4Q numbers
with marginal YOY revenue growth to RM465.9 million however gross Profit margin
in the reporting quarter stood at 12.2% representing an increase of 67% as
compared to the previous year’s corresponding quarter. The improved performance
was mainly attributable to the Group’s continuous efforts in improving its
operational efficiency plus a RM30.7m forex gain bringing full year gains to
RM56.3m. JCY declaration of 3 sen dividend represents a pay-out ratio of
approximately 81% of the profit after tax with full year payout totaling 6.75%.
The
company has guided that the outlook for HDDs will remain favourable in the near
future.
Excluding
the forex gains, the company is trading at a fair valuation of 12x PE. Hold
6)
Market – Maintain positive bias on the KLCI as rate hike in the US largely
priced in with expected month end closing action and possible positive news
flow from injection of the initial trance of fresh funds into Value Cap.
