FBM30 1618.58
+6.20 points (+0.38%) Volume
989mil Value 1,472mil
1) Markets rebounded from morning low of 1603.09
(-9.29pts) with buying support from key heavyweight led by Telcos as investors
sentiment remained tepid in line with the mixed regionals while investors
awaits for resolution in the Eurozone debt situation. Plantation+0.8%
outperformed led by IOI+2.4% as reports showed Malaysia palm oil exports rose
8% for the first 25days of Sept. Market breadth turned positive with gainers
edging decliners 331:329. Futures closed 1616.5pts (2 points discount).
2)Heavyweights: AXIATA+2.94% RM6.30, IOICORP+2.43%
RM5.05, DIGI+1.63% RM5.00, TENAGA+1.34% RM6.79, TM+1.02% RM5.95, CIMB-1.08%
RM7.36, PETGAS-1.06% RM18.70, MAXIS-0.59% RM6.78
3)DBT: MPAY 10mil @ RM0.10 , GOLSTA 6.1mil @ RM0.50 (13%
discount), AIM 4mil @ RM0.15 (11% premium)
4) Situationals:
SCOMI+8.57% RM0.38, IJM-7% RM4.75: Share price reached a
high of RM0.39 after announcing Maju Holding Sdn Bhd executive chairman
Tan Sri Abu Sahid Mohamed had increased his stake in Scomi to 8.746% with IJM
Corp Bhd also proposing to acquire 10% shares valued at RM0.33 via private
placement and subscribing of redeemable convertible secured bonds with an
aggregate nominal value of RM110mil in cash. This move by IJM was supposedly an
opportunity for them to venture into the o&g industry.
5) DAYANG/ PERDANA
Dayang finally disclosed today what the market had been
speculating for the past few days. It announced that it had acquired an
additional 1.17m shares in Perdana on 19/09 and a further 19.67m shares on the
20/09, thus raising their total holding to 94.51m shares or 19.09% in Perdana.
Positive for both parties as this will strengthen its
case for marine services when bidding for more hook up, construction and
commissioning jobs such as the RM8b-10b Pan Malaysian cluster works.
6) Market - Current weakness in the market has presented
accumulation opportunities in defensive quality names at more reasonable levels
such as HL Ind, KJoo, Uzma, Yinson.
