FBMKLCI
1684.42pts +7.39pts (+0.44%) Volume
2.768b Value RM2.369b
1) The KLCI bucked the regional trend, gaining for a 3rd
consecutive day as the US closed flat overnight after trading volume diminished
ahead of the Thanksgiving weekend. Regions were mostly weaker as the STI -1.09%
led in losses as the ASX -0.63%, NIKKEI -0.39%, HSI -0.40%, HSCEI -0.28%
slipped while the SHCOMP +0.88% boosted by tech names. Profit taking weighed on
the market as recent penny winners reversed gains, INSTACO -1.53%, XOX -10.48%,
FRONTKN -21.56%, HHGROUP -14.85% were the biggest decliners amongst the most
active; TECHNOLOGY -2.06% index was the biggest losing sector as UNISEM -2.08%,
JCY -2.90%, INARI -1.22% fell, following the recovery in the MYR. Market
breadth was negative with losers outpacing gainers by 669 : 268. Market futures
closed at 1687pts (3pts discount).
2) Heavyweights : PCHEM +2.67% RM6.92, MAYBANK +0.83% RM8.41, SIME
+1.12% RM8.07, SKPETRO +3.28% RM2.20, CIMB +0.87% RM4.60, YTL +2.66% RM1.54,
GENTING +1.24% RM7.33, AMBANK +1.31% RM4.62.
3) DBT : MALAKOF 286.433mil @ RM1.55 (5.72% PUC), IDMENSN 10mil @
RM0.08 (2.02% PUC), CCM 5mil @ RM1.10 (1.09% PUC @ 10% premium).
4) Situational:-
KTC +113.3% RM 0.32 - KTC made a strong debut
on the ACE market today as the price rose to a high of RM0.345 more than double
of its IPO price of RM0.15 with 198mil shares traded in the market. The Sabah-based consumer
package goods producer and distributor’s IPO involved 34 million new shares to
the public at 15 sen each and it was oversubscribed by 45.66 times.
5) MITRAJAYA
9mths Sep 2015 Tover +65% RM636.1m Net +218%
RM82.3m EPS 10sen
17% above cons(f) RM93.3m
The construction division continues to be the main contributor
with PBT of RM68.8m attributable to higher recognition from new projects
secured since last year. The slowdown in property development was offset by
contribution of RM8.8m from its South African Investment.
Counter remains well supported at these levels, trading at an fwd
PE of 11.8x with an outstanding order book of RM1.6b which breaks down into two
years of earnings visibility coupled with a sizeable tender book of RM4.1b.
Hold.
6) Market – KLCI could be maintained with the recovery in RM
however this may result in continued unwinding of mid/small cap companies who
have enjoyed a tremendous run benefiting from the weaker RM, primarily
exporters.
