FBM30 1604.39
+9.41 pts (0.59%) Volume 1.4b Value RM1.76b
1) The local market advanced, in tandem with regional
markets, amid speculation the US Federal Reserve will take measures to bolster
growth and as leaders for the G20 Nations pledged to support Europe in their
struggle with debts. KLCI remained buoyant throughout, before late buying
pushed index up sharply to close on the brink of it's all time high of 1609.33
pts. Volume was again dominated by lower liners
NICORP+17%, AGLOBAL+20%, MTRONIC+13%, INGENS+6%. Market
breath remained positive, with gainers dominating losers 621:196. Futures
closed 1607.5 pts ( 3.11 pts prem) .
2) Heavyweights: YTL+3.4% RM2.12, MRCB+3.4% RM1.82,
DIGI+3.2% RM4.23, MMC+2.5% RM2.65, PARKSON+2.2% RM4.65, BOUSTEAD+1.7%
RM5.46, MHB-1.8% RM5.40, MISC-1.7% RM3.88, AIRASIA-1.9% RM3.63.
3) DBT: E&O 6.54m @ RM1.35 ( 8% disc), LUSTER 5m @
RM0.075, HARTA 2.9m @ RM3.92.
4) Situationals:
IVORY+6.9% RM0.54 : after group ED & CEO said that it
plans to launch RM1.6b worth of properties in Penang island in 2H2012.
The projects comprised the 1st phase of Bayan Mutiara, which has a GDV of
RM800m, the 3rd & 4th phases of Penang Times Square ( GDV RM300m) , a
RM130m sea-fronting condominium block in Batu Feringgi and the RM400m City Mall
& City Residence in Tanjung Tokong.
AZRB +4.7% RM0.78: MD said that group is now eyeing
private projects including developing older buildings along Jalan Sultan
Ismail. This revelation came after Co having recently secured a major contract
for the MRT project & a hospital job. OB has ballooned to RM1.9b, against
it's annual burn rate of RM500m per year. The bulk of AZRB's OB is made up of
the RM700m MRT Package 6 and a contract worth RM400m to build a teaching
hospital in Kuantan, Pahang.
5) BUMI ARMADA
Issued a Letter of Intent to Nam Cheong Dockyard Sdn Bhd
to build four units DP2 Multi-Purpose
Platform Support Vessels with an option to build four additional units at an
approximate cost of USD130 million (excluding owner furnished equipment) under
the Group's newbuild programme - Steel on Water II, subject to successful
negotiation of mutually agreed terms and the execution of four contracts.
Delivery is expected in 2Q 2014. The Newbuilds envisaged under the LOI are in line with
the fleet expansion plan of Bumi Armada Group in the OSV market. This will add to its growing O&G assets which
currently includes 40 OSVs, 3 FPSOs (2 under conversion) a derrick pipe lay
barge and a SURF vessel. + ve a technical breakout from recent resistance of
RM4.10 could see a short term target of RM4.30
6) Market - Rotational play on buoyed by expectations of
further quantitative easing and the KLCI now only a whisker away from its all
time high of 1609pts. Trading BUYS on high beta stocks; Sunway, PMetal, Lion
Corp, Keuro, CresBld.
