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5 March 2015
Market Thoughts

US equities extended their losses overnight after February payroll data came below expectation. However, European markets rose ahead of European Central Bank's policy meeting today which is expected to start the quantitative easing.

Back home, the FBM KLCI gained 4.29 points to 1825.54 points following a last minute spike. Asian investors will look to China's National People's Congress today for cues on its economy. We expect the FBM KLCI to re-test the resistance of 1830 points.

Stocks in focus are: Fitters Diversified, the group plans to redevelop the 2.3-acre Plaza Pekeliling along Jalan Tun Razak, into a small office/home office (SOHO) concept building; REDtone International, the group said that its Penang Free Wifi project, which it undertook in collaboration with the Penang government, has been extended by another two years with anticipated RM1.85 million revenue from the project; Integrax, the board of directors of Port operator has advised its minority shareholders to reject the revised take-over offer of RM3.25 a share by Tenaga Nasional.
4 March 2015
Market Thoughts

US stocks were lower overnight after coming off record levels as February auto sales declined slightly. Similarly, European markets retreated after January producer prices dropped sharply.

On the local front, the FBM KLCI gained 4.12 points to rebound to 1821.25 points. Following the negative performance in the US and Europe, we expect the FBM KLCI to follow suit and trend lower after failing to beat its resistance of 1830 points.

Stocks in focus are: Genting Bhd, the group is acquiring luxury cruise line Crystal Cruises Inc from Nippon Yusen Kabushiki Kaisha of Japan (NYK) for US$550 million; Telekom Malaysia, the group has signed a Memorandum of Understanding (MOU) with TIME dotCom Bhd (TIME) for the development and construction of a new submarine cable system dubbed the “Sistem Kabel Rakyat 1 Malaysia (SKR1M)”; Mega First Corp, the group has finally been given the green light by the Laos government to hold the concession for a 260MW run-of-river hydropower plant in the country; Censof, the group has bagged RM3.5 million government accounting system contract.
3 March 2015
Market Thoughts

US equities hit new highs following positive manufacturing data and interest rate cut in China. In contrast, European markets closed lower as oil price declined.

Back home, the FBM KLCI dropped 4.08 points to 1817.13 points. Asian markets are expected to be positive today ahead of Australia central bank's policy decision, which is expected to cut interest rate. We expect the FBM KLCI to rebound from yesterday's loss and head for its resistance level of 1830 points.

Stocks in the limelight are: Perisai, the group has secured a further extension worth US$3.65 million (RM13.24 million) for its marine vessel charters; Pesona Metro, the group has secured a joint-venture project worth RM172.72 million for road works in Pahang; Willowglen MSC, the group has been awarded a three-year contract valued at RM9.91 million by Singapore’s SP Power Assets Limited, for remote monitoring and control facilities; Plenitude, the group has proposed a conditional take-over of The Nomad Group at an offer price of RM1.25 per share; Taliworks, the group has received a letter from the Kedah state government to revise the water tariff rate from 2014 to 2020.
2 March 2015
Market Thoughts

US markets closed slightly lower after 4th quarter GDP and higher oil price. Meanwhile, European stocks finished higher ahead of European Central Bank's quantitative easing program.

On the local market, the FBM KLCI closed 0.34 points higher at 1821.21 points on Friday after recovering from an intra-day low of 1811.74 points. We expect the index to test its resistance of 1830 points following the recent uptrend momentum.

Stocks in the limelight are: a) Kinsteel, after the group has signed a RM753m debt restructuring agreement with its creditors; b) BIMB and MBSB, after the media reported that the plan for the merger between Bank Islam and MBSB is being floated again; c) Oil & Gas counters, following the news that Petronas’ last quarter results for 2014 sank into the red and the national oil giant will defer some projects which include RSC; d) CIMB, Boustead, E&O, 7-Eleven, Brahim’s, and Supermax following their quarterly results announcement. Meanwhile, Kinsteel.
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Unit Price As At: 05-03-2015
Apex Fund NAV (RM)
Apex Dana Al-Kanz0.3039
Apex Dynamic Fund**0.2557
Apex Malaysia Growth Trust0.2857
Apex Asian (Ex Japan) Fund**0.2393
Apex Dana Al-Sofi-I0.2639
Apex Dana Al-Faiz-I0.2519
Apex Quantum Fund0.2230
Apex Dana Aslah0.9050
** Price of 2 Preceding business days
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