FBM30 1579.23 +8.29 pts ( +0.53%) Volume 980m Value
RM2.42b
1) Local stocks rebounded on speculation that central
banks will take steps to bolster economic growth in the face of Europe's debt
crisis. The KLCI jumped about 7 points at the open & traded
sideways for most of the day before late buy program pushed index up to close
near day high. Trading volume picked up dramatically in the last hour.
Buying interest centered on the rubber gloves segment through the sessions,
after Topglove reported better than expected Q3 results the day before,
TOPGLOVE +4.5%, SUPERMAX +7.1%, ADVENTA+6.7%.
Market breath was positive, with gainers edging losers 440:273 . Futures
closed 1582.5 pts( 3.27 pts prem).
2) Heavyweights: MHB+5.9% RM5.40, GENM+5.9% RM3.60,
MMC+3.8% RM2.72, UMW+3.7% RM8.70, IOIC+3.7% RM5.29, GENTING+3.2% RM9.68,
PARKSON-4.7% RM4.30, TM-1.6% RM5.42, DIGI-1.2% RM4.0, IJM-1.2% RM5.05,
MISC-1% RM3.87
3) DBT: BJLAND 40.7m @ RM0.85, PUNCAK 12.2m @ RM1.30,
SIGGAS 4.9m @ RM0.68.
4) Situationals:
PHARMANIAGA +30% RM6.50,
BOUSTEAD+0.6% RM5.11 : Pharmaniaga hit limit-up, when it resumed trading
of it's shares today, after announcing that it's public shareholding spread now
stands at 25.76%. Boustead reportedly has a 72.4% stake in Pharmaniaga.
RAMUNIA+3.9% RM0.395 :
after Co announced that it's wholly owned subsidiary has secured 2 fabrication contracts worth
RM177.5m from Sarawak Shell Bhd for the fabrication of substructures &
topsides for the D12DR-A and Laila LADR-A projects off the coast of Sarawak.
Ramunia will undertake the procurement, fabrication, testing, load-out and
tie-down of the substructures &
topsides. The 2 contracts worth RM53.4m & RM124.1m respectively are
expected to be completed by 2Q2013.
5) FELDA GLOBAL VENTURES
Announced the final Institutional Price: RM4.55 and
Retail Price: RM4.45 ( 98% of the Institutional Price). The listing is
targeted for 28th June 2012. It also announced a stabilizing manager that would
be allowed to buy up to 109.445m shares for a period of 30 days from the day of
listing.
6) MSM
Louis Dreyfus Commodities Suisse SA and Sucres Et
Denrees and Malayan Sugar Manufacturing
Co Bhd and Kilang Gula Felda Perlis Sendirian Berhad have entered into 2 long
term contracts whereby Vendors have
agreed to supply the specified amounts of raw sugar to Buyers and Buyers have
agreed to purchase the raw sugar at the stated consideration. This agreement
was signed to secure consistent supply
of raw sugar at fixed prices which pricing terms shall take into account the
then prevailing global market price at the time. This supply agreement has been
renegotiated and renewed for the next three years commencing from 1 January
2012 and expiring on 31 December 2014 replacing an earlier agreement signed at
the early part of 2009 and expired on 31 December 2011. +ve, defensive play with decent yield of 5%.
7) Market - Immediate outlook all weighing on Greece
election outcome which should set the tone for the week ahead.
