FMB 1682.7 -1.87pts (-0.11%) Volume 1,452mil Value 1,408mil
1) KLCI rose in morning after the Japanese government approved emergency stimulus package pushed by PM Shinzo Abe to kick start Japan's economy growth but closed below parity after China reported a pick-up in Chinese inflation which regionals tracking lower. Plantation stocks lose its traction gained from the beginning of 2013 after CPO futures fell to a low of RM2359/MT. Market Breadth was generally mixed with gainers edging losers 366:346. Future closed 1683.5 (0.8pts premium)
2) heavyweights : AXIATA+0.45% RM6.69, CIMB+0.39% RM7.66, HLBANK+0.94% RM14.98, DIGI+0.39% RM5.17, GENTING-2.36% RM9.51, GENM-3.73% RM3.61, PCHEM-1.27% RM6.23, MAYBANK-0.22% RM9.00
3) DBT: AT 6.901m @ RM0.17 (3.18% PUC, 9.6% premium), MBMR 2.743mil @ RM3.41 (3% premium), KBUNAI 1.723mil @ 0.125
4) Situationals:-
SCOMI RM-2.78% RM 0.35 - Share price ended at day's low despite SCOMI confirming that it had supported a bid submission to Petronas for the Tembikai and Chenang cluster off Terengganu risk service contract (RSC) and it is unaware if Petronas has awarded the project.
5) BOLTON BERHAD
Bolton has entered into a sale and purchase agreement with Batu Tiga Quarry Sdn. Bhd, for the proposed disposal of two parcels of leasehold land in Mukim and District of Ulu Langat, State of Selangor measuring approximately 833,654 square metres (approximately 206 acres), for a total deferred cash consideration of RM100 million only, payable over 4 years. The Land is currently charged in favour of a financial institution ("Existing Chargee") as security for the banking facilities granted to Bolton.The Land has a book value of RM25.90 million based on the Group's quarterly results as at 30 September 2012.2.2 Basis of Arriving at the Sale Consideration The Sale Consideration for the Proposed Disposal is derived at on a "willing-buyer willing-seller" basis after taking into consideration the fair market value of the Land of RM5.00 p.s.f based on the valuation. Bolton is accepting the offer received for the Land as it allows the Group to realise an immediate gain on its quarry land which is not suitable for development in the near future, and raise cash to focus on property development activities. The Group will record a gain of RM57.10 million from the Proposed Disposal for the financial year ending 31 March 2013 after adjusting for fair valuation of the deferred portion of the Sale Consideration. +ve
6) Market - Continued rotational play in mid/small cap names as the KLCI consolidates, trading buy Naim, MMC, CMSB
