1) Market traded in a tight
range on positive ground early, before succumbing to selling pressure in the
afternoon to close at day's low of 1582.98 pts. This was on the back of weaker
regionals, amidst concerns about the impact of a slowdown in the global
economy. Penny stockS dominated volume Focus-5.6%, AT-13%, Mtronic-2.4%,
Scomnet+65%. Market breath was negative as losers overwhelmed gainers 2:1.
Futures closed 1584 pts.
2) Heavyweights: Maybank
+1.14%, CIMB -0.1%, AirAsia -3.6%, Axiata unch, Genting +0.4%, Tenaga -2.7%.
3) DBT: MTouche 36.5m @ 0.315
( 16% PUC, 25.9% disc), Inari 4.1m @ 0.365.
4) Situationals:
Unisem+9.8%, MPI +1.9% -
higher as valuations are thought to havebottomed & sector turning around, given the demand recovery & improving OECD economies.
Deleum -3.6% despite
speculation that it may be partnering Petronas Carigali SB to form a global
patent for a "breakthrough" product in the upstream O&G sector,
that will greatly improve extraction rates.
5) CBIP: announced that
Modipalm Engineering SB, a wholly owned subsidiary, had on March 21 received a
LOA from Syarikat Ladang Sungai Terah for the contract to design & build a
30 tonnes per hour Kilang Sawit Tapis and an extension of another 15 tonnes per
hour for a total contract value of RM44.67m. The extension portion of the work
must be performed within 2 years of time period starting from handing over date
of the 30 tonnes per hour mill: +ve, this contract win will bring total value
of contracts in hand for CBIP to more than RM1b. Catalyst for the stock remain
it's proven track record, favorable demand outlook for palm oil mill &
strong balance sheet. With a 3-years CAGR for FY2012-14 of about 16% &
trading at PER of 8x for FY2012, BOW.
6) Market - core blues and
KLCI index will continue to trade sideways while lower liners are expected to
trade lower in a two-tiered market.
