European markets surged as investors anticipate further stimulus to be announced by the European Central Bank during its meeting next week. US markets were closed for Thanksgiving holiday.
On the local market, the FBM KLCI shed 1.33 points to 1683.09 points. Following the positive performance in Europe, the KLCI could rise today with resistance levels at 1700 and 1728 points.
Stocks to watch are: a) AirAsia, FGV, UMW, Tropicana, Aeon, KNM, Press Metal following their result announcements yesterday; b) Iris, as the group has bagged a contract worth US$22 million (RM92.65 million) from the Government of Solomon Islands for the establishment of information and management system of electronic passport and border control; c) DRB-Hicom, the group plans to take over 23-year Angkasapuri facilities concession; d) OCK, the group is in the final stages of getting a contract from Telenor’s Myanmar unit to build and lease over 900 towers in the country; e) Mega First, the group plans cash call to raise RM250m to part finance its Laos hydropower project.
26 November 2015
US markets ended slightly positive on its last trading day of the week following encouraging economic data. Meanwhile, European equities rallied on positive corporate results overshadowing geopolitical concerns.
On the local market, the FBM KLCI rose 7.39 points to 1684.42 points. Following the positive momentum, we expect the KLCI to extend its rebound with resistance at 1700.
Stocks to watch are: Mitrajaya, MSM, AirASIA x, MMC, Maybulk, Genting Plantations, Masteel, Tomypak following their result announcements yesterday.
25 November 2015
US stocks eke out gains amidst rally in oil prices and energy stocks. Revised third-quarter U.S. gross domestic product came within market expectation, up 2.1 percent from the original reading of 1.5 percent. Meanwhile, European markets finished sharply lower on Tuesday after Turkish fighter jets shot down a Russian warplane near the Syrian border.
On the local market, the FBM KLCI gained 6.13 points or 0.4% to 1677.03 points. Following yesterday’s gain, the KLCI breached the short term downtrend channel. However, the index gave up intra-day gains yesterday still signaling uncertainty. We expect the benchmark index to consolidate above 1670 points on the back of stronger oil price, Ringgit and improved market sentiment.
Stocks to watch are: a) Kim Teck Cheong, the group will be making its listing debut on the ACE Market; b) Econpile, the group has secured a RM95.5 million contract for piling and related works for the Arte Mont Kiara mixed development; c) Sasbadi, the group is looking to explore a collaboration with a Chinese publishing firm in the areas of intellectual property rights, and pedagogical resources and technology; d) Parkson, WCT, IJM Plantations, UMW-OG, following their corporate result announcements yesterday.
24 November 2015
US markets were slightly lower overnight following decline in commodities, higher US dollar and anticipation of GDP announcement tonight. Similarly, European equities also ended lower after fluctuation in oil price.
On the local market, the FBM KLCI surged 9.01 points to 1670.90 points. Following the decline in Wall Street, we expect the KLCI to be negative today and remains in its downtrend channel since last month. Immediate support is seen at 1645 points.
Stocks to watch are: a) Eversendai, the group has secured a string of new engineering and construction contracts both foreign and domestic worth RM316 million, through its subsidiary companies in Qatar, India and Malaysia; b) Sunway Construction, the group has clinched a RM106.75 million contract to undertake substructure works and associated works for a proposed mixed commercial development in the Kuala Lumpur City Centre; c) JCY, the group's 4QFY15 net profit surged 4.5 times yoy to RM75.6 million, driven by a stronger US dollar against the ringgit; d) Malakoff, the group's 3QFY15 net profit jumped 44.3% yoy to RM156.02 million, thanks to lower losses recorded by its associate company Kapar Energy Ventures Sdn Bhd and lower finance costs, following the redemption of its sukuk; e) Pos Malaysia, the group saw its 2QFY16 net profit plunged 89.8% yoy to RM3.48 million attributable to the lower profits from mail and retail segments coupled with higher transportation cost for transhipment business and recognition of expired postal order in 2QFY15.
23 November 2015
US markets ended higher on Friday following gains in retail stocks. Similarly, European equities high 3-month highs after dovish comments from European Central Bank indicating potential stimulus.
On the local market, the FBM KLCI added 1.83 points to 1661.89 points. The benchmark index lagged regional and global markets after a flattish trend last week. We expect the index to remain sideways with a negative bias above the immediate support of 1645 points.
Stocks to watch are: a) Evergreen Fibreboard, the group's 3QFY15 net profit almost tripled to RM27.59 million thanks to strengthened US dollar, lower cost of glue, higher operational efficiency as well as synergistic cost savings; b) Bintai Kinden, the group has landed a US$15.15 million (about RM64.89 million) contract for mechanical, electrical and plumbing works for the Rosewood Hotel in Phnom Penh, Cambodia; c) Prestariang, the group has been chosen as the main implementer of the Immigration Department's 'Sistem Kawalan Imigresen Nasional' (SKIN). SKIN is a comprehensive and integrated technology platform to modernise the core applications and infrastructure of the national immigration system, with the objective of enhancing the national borders' security; d) Ikhmas Jaya, the group has won a RM161.12 million contract for the substructure works for a proposed mixed development at Persiaran Barat, Section 52, Petaling Jaya; e) Cypark Resources, the group has secured a 25-year solid waste management concession from the government.
19 November 2015
US markets were mixed overnight after lower oil prices on oversupply and geopolitical tension. Earlier, European equities soared following higher auto sales, Greece agreeing with its lenders into financial reforms and deflation in UK.
On the local market, the FBM KLCI closed 5.53 points higher at 1661.53 points after coming off an intra-day high of 1677.37 points. Following the flat performance in Wall Street, we expect the KLCI to be neutral today with support at 1645 points.
Stocks to watch are: a) Daibochi, the group reported a 34.71% yoy increase in profit for its 3QFY15 due to favourable product mix, higher turnover, forex gain as well as improved margin on higher export sales due to the weaker ringgit against other foreign currencies; b) JAKS Resources, the group posted a 113% yoy increase in its net profit for its 3QFY15 due to its construction orderbook and billings from property development; c) Dialog, the group's first quarter net profit climbed 20.4% y-o-y, driven by its international business which offsets lower earnings from its Malaysian operations; d) HeveaBoard, the group's 3QFY15 net profit surged more than twofold to RM18.12 million thanks to better performance in the particleboard sector, resulting from higher sale and sale of higher value and value added products; e) Dutch Lady, the group's 3QFY15 net profit soared 74.8% yoy to RM49.95 million, attributable to favourable raw material purchases and positive foreign currency hedging effects. The group also declared a special interim dividend of 60 sen per share, along with a standard interim dividend of 50 sen per share.
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|Unit Price As At: 24-08-2015|
|Apex Fund||NAV (RM)|
|Apex Dana Aslah||0.8466|
|Apex Malaysia Growth Trust||0.2710|
|Apex Quantum Fund||0.1979|
|Apex Dana Al-Sofi-I||0.2351|
|Apex Dana Al-Faiz-I||0.2210|
|Apex Dynamic Fund**||0.2410|
|Apex Dana Al-Kanz||0.3080|
|Apex Asian (Ex Japan) Fund**||0.2299|
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