FBM30 1623.91
-11.18 points (-0.68%)
Volume 1,151mil Value 1,815mil
1) KLCI succumbed to profit takings following recent
record rally as plantations led the losers falling 1% on weaker CPO prices.
Index ended near day's low with core blues seeing selling pressure despite a
more positive regionals which rose on optimism Central banks will act to boost
economies. Market breadth was negative with decliners outpacing advancers
448:274. Futures closed 1622pts (2points discount).
2) Heavyweights: SIME-1.51% RM9.80, GENTING-1.73% RM9.11,
GENM-3.79% RM3.30, KLK-2.73% RM23.50, AXIATA-0.86% RM5.76, TM-1.79% RM6.04,
UMW-3.16% RM9.51, BAT-2.69% RM59.36
3) DBT: PERISAI 66mil @ RM0.485 (7.7% PUC, 45% discount,
option exercised by Zainol Izzet from HCM Logistic), METROD 18mil @ RM2.30 (15%
PUC, 20% discount), NICORP 14mil @ RM0.30 (2% PUC)
4) Situationals:
MISC-2.61% RM4.48: fire broke out early in the morning on
board its chemical/palm oil tanker Bunga Alpinia in Labuan Sabah. At present 24
crew have been safely brought ashore while 5 are still unaccounted for.
MMC-3.24% RM2.39: Share price fell after FTSE announced
that IHH will be added to the FTSE Bursa Malaysia KLCI (KLCI 30) with an
investability weighting of 30%. The effective date of this change is 1st August
with estimated weighting of 1.43% on the KLCI30 index.
GENTING-1.73% RM3.79/GENM-3.8% RM3.30: Selling pressure
seen in regional gaming stocks following weaker earning shown by Macau gaming
operators while recent surprise announcement by Singapore government over
amendments of casino law has raised the regulatory risk faced by Genting
Singapore.
5) AIRASIA
Today announced that it has through its fully owned
subsidiary AirAsia Investment Ltd entered into a Conditional Share Sale
Agreement together with its partner PT Fersindo Nusaperkasa to acquire PT Metro Batavia, which operates
the Indonesian airline, Batavia Air, and Aero Flyer Institute , an aviation
training school. The agreement was signed today between AAB, Fersindo and Metro
Batavia at a signing ceremony in Jakarta.
In accordance with Indonesian civil aviation ownership
regulations, Air Asia will hold a 49% stake in Metro Batavia Group with the 51%
majority held by its Indonesian partner, Fersindo. Fersindo is also the 51%
majority shareholder of PT Indonesia AirAsia .
The total purchasing consideration for Metro Batavia
Group is USD80 million and will be settled in cash. The acquisition of 100%
interest in Metro Batavia by AAB and Fersindo will be carried out in two
stages, through acquisition of a majority 76.95% stake and subsequently
followed by the remaining 23.05% held by its existing shareholders.
correspondingly, the total purchasing consideration for
100% interest in AFI is USD1 million.
The acquisition is expected to complete by 2nd quarter
2013 and is subject to regulatory approvals in Indonesia.
This new acquisition will complement AirAsia's existing
Indonesian operations, IAA , which has successfully captured strong market
share in Indonesia's international airline traffic, with an extensive and
well-established domestic route network throughout the Indonesian archipelago.
The Batavia Air acquisition provides greater domestic connectivity and an
extensive feeder network into IAA's existing hubs in Jakarta, Bandung,
Denpasar, Medan and Surabaya. Upon the successful acquisition, Batavia Air and
IAA will fly more than 14 million customers serving 42 Indonesian and 12
international destinations. The addition of Batavia Air will provide AirAsia
immediate access to an enlarged fleet of aircraft, experienced pilots and
flight crew and increasingly competitive slots at major Indonesian airports at
a time when Indonesia's travel sector is experiencing double-digit growth on
the back of rapidly growing consumer demand for air travel.
+ve : In line with Air Asia's recent focus in Indonesia
to tap into its vast potential.
6) Market - Jitters remain over the delicate position in
Europe and are likely maintain the current cautious mode ahead of the weekend
and US GDP numbers. by telephone at +603 2089 1888 or by e-mail. This
communication is subject to the usual hazards of Internet communication and no
guarantee can be made that there has been no unauthorised interception or
modification of this communication whilst in transit. Whilst every effort has
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