FBMKLCI
1672.16pts -10.43pts (-0.62%) Volume
2.507b Value RM3.786b
1672.16pts -10.43pts (-0.62%) Volume
2.507b Value RM3.786b
1) The
KLCI trade in the red thruout the day before closing 10pts (-0.62%) lower as
local selling weighed on TENAGA -1.76%, MAYBANK -1.42%, SIME -1.73%, DIGI
-2.34%. Regional bourses were mostly lower as the NIKKEI -0.69% led in losses,
ASX-0.61%, HSI -0.33%, HSCEI -0.66% slipped while the SHCOMP +0.26% bucked the
regional trend ahead of IMF’s decision to add the Yuan to the basket of reserve
currencies. CONSTRUCTION -0.79% index lost the most grounds today as
heavyweights, IJM -0.87%, WCT -3.97%, GAMUDA -0.22% fell while the TECHNOLOGY
+0.87% index outperformed boosted by buying amongst INARI +5.23%, GTRONIC
+2.24%, MPI +1.01%. Market breadth was negative with losers beating gainers by
679 : 270. Market futures closed at 1669.5pts (3pts discount).
2)
Heavyweights : TENAGA -1.76% RM13.36, MAYBANK -1.42% RM8.32, SIME -1.73%
RM7.91, DIGI -2.34% RM5.00, SKPETRO -4.88% RM2.14, CIMB -1.09% RM4.50, IHH
-1.24% RM6.34, PBBANK +0.65% RM18.38.
3) DBT
: PRG 25.449mil @ RM0.80 (17.54% PUC), PESONA 3.611mil @ RM0.44 (11.3%
premium), AMTEL 2.093mil @ RM0.90 (4.24% PUC), JAKS 0.5mil @ RM1.15
4)
Situational:-
MUHIBBAH
+2.76% RM2.23 - Muhibbah Engineering Bhd has bagged a contract worth
between RM93 million
and RM100 million
from Ophir Production Sdn Bhd to provide engineering, procurement,
construction, installation and commissioning (EPCIC) services for the Ophir
wellhead platform, located offshore Peninsular Malaysia. The contract will
commence this month for a period of 14 months to final hook-up and commissioning offshore. BUY
5) EVERSENDAI
9 mths Sep 2015 Tover
+85% RM1.3bn Net +226% RM48.1m EPS 6.2sen
In line with cons(f) RM62m
The Group’s revenue continues to be
predominantly driven by its operations in the Middle East, which registered for
70.0% of its entire revenue portfolio while the remaining revenue was derived
from the steel fabrication contracts and the power plant projects in Malaysia
(20.8%) and construction industry in India (9.2%). As at September 2015, the
Group had secured approximately RM1.4 billion in new contracts and its order
book stood at RM1.8 billion. This order book is expected to drive earnings by
another 20% resulting in an attractive valuation of 8.6x PE 2016. Accum
*Note :Eversendai has also
addressed its exclusion from the list of Shariah-compliant securities released
by the Securities Commission Malaysia (SC) on 27 November 2015. The
contribution of Shariah non-compliant activities to the Group’s profit before
tax had exceeded the required 5% threshold based on its audited results as at
31 December 2014. However, based on the unaudited results as at 30 June 2015,
Eversendai has already complied with the said 5% threshold and targets to be
reclassified as a Shariah-Compliant counter in SC’s next review.
6) Market – After the short lived
reprieve in the RM from the sale of !MDB’s power assets, focus is now back on
weakening EM currencies with the RM slipping back. Coupled with uninspiring 3Q
results, the KLCI is likely tread cautiously btw the ranges of 1650-1680pts
levels.
