FBM30 1514.13 , -0.3 points (-0.02%), Volume 1,466.8mil, Value 1,388.6mil
1) The market traded in a cautious tight range today on low volumes ahead of the verdict on opposition leader Anwar Ibrahim next Monday. Buying activity during the auction period in select heavyweights however helped the index close largely unchanged: AXIATA+1.2%, GENTING+0.9%, CIMB+0.3%. Apart from a mild profit taking in Plantation (-0.6%) related stocks (KLK-2.5%, KULIM-1.8%, TSH-2.9%), investors participation was still lacking, resulting most of the stocks across the board were muted. Market breadth was mixed with losers edging gainers 391:377. Futures closed 1523.5 (9 points premium).
2) Heavyweights: MAYBANK-0.7% RM8.23, KLK-2.5% RM24.64, PCHEM-0.8% RM6.33, BAT-1.8% RM48.76, DIGI-0.5% RM3.86, YTL-0.7% RM1.50, AXIATA+1.2% RM4.95, GENTING+0.9% RM11.24, IOICORP+0.7% RM5.40.
3) DBT: SUNREIT 13mil @ RM1.21 (0.48% PUC), KEURO 6mil @ RM1.11 (1.1% PUC, 10.5% discount), XDL 4mil @ RM0.32.
4) Situationals:
PROTON-1% RM4.99: Share price saw volatile movement (high 5.09, low 4.97) as the company confirmed that it is in talks with General Motors Corp (GM) but only at a preliminary stage and did not reveal further details. The national car maker said should there be further developments that warrant an announcement, Proton would make the necessary disclosure accordingly. Meanwhile, Chairman Mohd Nadzmi Mohd Salleh is personally bidding for Khazanah's 42.7% of the company. There is no management buyout, and Mohd Nadzmi intends to retain most of the existing management if secures the shares, the company said in a filing with Bursa Malaysia. "The decision to submit the bid was made entirely in his own personal capacity," Proton's statement said, without citing an offer price.
5) MUHIBAH
The company today provided an updates on Asia Petroleum Hub Sdn Bhd ("APH") project. It informed BURSA, that CIMB Bank Berhad , the financier of APH has appointed PricewaterhouseCoopers as receivers and managers over APH in order to facilitate a restructuring exercise.
As APH is a viable project, Muhibbah Engineering (M) Bhd is working with various financiers, including CIMB, and other relevant parties towards an amicable solution.
APH's receivership status was uplifted last year and Muhibbah is still optimistic of recovering RM371m owed to them.
6) Market - Cautious mood likely to spill over into Monday ahead of events surrounding the Opposition Party Leader's verdict.
