FBM30 1660.23
-1.24points (-0.07%) Volume
980mil Value 1,385mil
1) KLCI retreated from its morning high of 1668.32
(+6.85pts) as investors took profit ahead of weekend following recent record
rally. Regionals were positive after ECB President Mario
Draghi's reassurance that they are ready to buy bonds to ease the region's debt
crisis. Market breadth was marginally positive with advancers edging
decliners 359:334. Futures closed 1662.5pts (1point premium).
2) Heavyweights: TENAGA-1.82% RM7.00, MAYBANK-0.99%
RM8.99, SIME-0.31% RM9.65, GENTING-0.45% RM8.81, CIMB+0.92% RM7.70,
AXIATA+0.90% RM6.76, IOICORP+1% RM5.07, HLBANK+1.46% RM13.88
3) DBT: ARREIT 10mil @ RM0.935, SENDAI 2mil @ RM1.40
4) Situationals:
KNM+5.93% RM0.715: Share price rose after announcing its
ex-dates for its 2-call rights issue of 488.92 mil new shares at an
issue price of RM1 each together with an equal number of detachable
warrants. Only 40sen shall be paid with balance capitalized from premium
account. KNM has also proposed listing of their fully owned subsidiary Borsig
with an IPO value over RM1.8bil, the group expects to return into the black as
they will be able to commence with their 2.2bil biomass and waste recycling
facility in the Peterborough project with the technology available at Borsig.
5) MAYBANK
The company announced a primary placement exercise of
300m shares with an option to upsize to 412m shares at around RM8.80 (a 2.2%
disc to closing price of RM8.99). Book closure will be this evening with the
shares listed by early next week. The amount raised would roughly be in the
region of RM2.64bn. Proceeds will help bolster its capital base ahead of Basel
III implementation next year. It could also come in handy for regional M&A
with Maybank mentioned as one of the interested parties for General Electric's
stake in Bank Of Ayudhya of Thailand.
6) Market - Immediate term target for the KLCI will
continue to largely depend on the fate of the plantation sector with the market
keeping a close eye on next week's MPOB data for September which will see
inventories climb above August record of 2.43m tns.
