FBM30 1606.63 +2.85 points (+0.18%) Volume 1,252mil Value 1,357mil
1) KLCI managed to stay above 1600pts inline with the positive regionals following strong US ISM and china non-manufacturing PMI. Market was thinly traded as investors stayed on the sidelines ahead of US employment numbers. Broader market turned negative with decliners edging advancers 379:354. Futures closed 1603 (3.6 points discount).
2) Heavyweights: AXIATA+1.73% RM5.28, PBBANK+0.58% RM13.80, DIGI+0.76% RM3.99, CIMB+0.26% RM7.81, GENTING+0.36% RM11.04, YTL-2.79% RM1.74, IOICORP-0.74% RM5.36, GENM-1.03% RM3.85
3) DBT: BJCORP 33mil @ RM0.94, BJLAND 10mil @ RM0.90, XDL 8.6mil @ RM0.12 (50% discount), OLDTOWN 7.5mil @ RM1.35 (5.5% premium)
4) Situationals:
AMEDIA+4.55% RM0.345: Company has propose to transfer the listing from ACE Market to Main Market. The application to the relevant authorities will be made within 2 months and is expected to be completed in the third quarter of 2012.
MAS-0.74% RM1.34: Share price was weaker after company dropped its plans to establish a short haul regional premium airline reversing business plan that was revealed by MAS CEO Ahmad Jauhari Yahya late last year. MAS will instead offer such services in house as a division.
5) MKH Bhd
MKH Bhd has been awarded a Turnkey Construction Contract by Puncak Alam Resources Sdn Bhd for the construction (design & built) of residential and commercial units to be constructed on the land measuring approximately 550 acres identified as PT 1092 Mukim Jeram and PT 834 Mukim Ijok, in the District of Kuala Selangor, Negeri Selangor. The contract value for the Project is approximately RM135 million per year over a tenor of 5 years. PAR will award the turnkey construction packages to PSAD progressively based on the development phases.
+ve the company’s fortunes have been improving as they are undergoing a transformation of concentrating on the core business of property development, construction and oil palm plantations after selling off non core business at the end of last year. Their properties have a GDV of RM3bn and they own a plantation in Indonesia.
6) Market – The KLCI is set for a consolidation phase after the recent sharp climb especially with technical indicators such as the RSI now at 73, heading closer to its high end of the range of 80 where its inevitably tracks back down. Trim Maybank, CIMB, Axiata, AMMB, YTLC.
