1) KLCI recovered from its day’s low 1597 (-17.14pts) and
closed near its day’s high as recovery in selected stocks led by Axiata, Digi,
Genting ensured index snap its 2 days losing streak. Regionals were also weaker
as investors awaits outcome from ECB meeting on its growth prospects and debt
situation. Market breadth was mixed with gainers edging losers 294:293. Future
closed 1611 (8.5points discount)
2) Heavyweights: DIGI+3.43% RM4.82, AXIATA+1.3% RM6.24,
GENTING+1.37% RM9.59, PBBANK+0.64% RM15.82, GENM+1.65% RM3.70, IOICORP-1.44%
RM4.79, TENAGA-0.86% RM6.93
3) DBT: SKPRES 45mil @ RM0.335 (5% PUC, 4.3% discount),
ILB 2.5mil @ RM0.90
4) Situational:
MBFHLDG+1.35% RM1.50: MBf Holdings Bhd chief executive
officer Tan Sri Mogan Lourdenadin is privatising the company by offering RM1.50
a share. Lourdenadin, who owns 87 per cent of the company, also offered 50 sen
per offer warrant and RM4.64 per Class A United States dollar denominated
redeemable convertible secured loan stock RCSLS.
5) SP Setia
The company shares were suspended in afternoon trade
today to announce the long anticipated private placement via a book building
exercise. The company intends to issue up to 15% of existing PUC in new shares
totaling 320.7m shares at a price between RM2.88 to RM3.00. Proceeds raised are
targeted to provide funding for Battersea
Project and initial development of new projects, further strengthen the Group’s
balance sheet, improve the Group’s gearing and debt financing flexibility
The new shares will be listed on the 25th Feb but are
subject to a 90 day lock up period.
This sheer size of the issue will be a major overhang
despite the lock up period, and could see the company’s share price to continue
to underperform.
6) Market – Expect market activity tomorrow to continue
to dwindle further ahead of the CNY holiday period which will see the markets
closed on the 11th and 12th Feb.
