FBMKLCI 1637.44
-0.19pts (-0.01%)
Volume 877.4mil Value RM1,455mil
1) KLCI ended flat as investors throw caution to recent
rally while regional were also lower on concern from Italy's political stalemate, the likelihood
of US spending cuts, and China's manufacturing data for Feb which came in lower
at 50.1. Index were supported by strong gain seen in GENTING+3.3% while overall
market breadth remained positive with advancers leading decliners 362:272.
Future closed 1630.5 (7points discount)
2) Heavyweights: CIMB+1.27% RM7.20, PBBANK+0.88% RM16.12,
UMW+4.07% RM12.80, BAT+4.74% RM61.00, GENM+3.64% RM3.70, AXIATA+0.95% RM6.40,
PCHEM+1.60% RM6.35, GENTING+0.74% RM9.49
3) DBT: HUBLINE 59mil @ RM0.06, PMETAL 6mil @ RM1.80,
ASTRO 5mil @ RM2.74, PRTASCO 5mil @ RM0.98
4) Situational:
BERNAS+11.89% RM3.67, TWSPLNT+11.2 RM4.95: Shares of
Padiberas Nasional Bhd (Bernas) and Tradewinds Plantations rose sharply after
their takeover prices were raised to RM5 and RM3.70 respectively. TWSPLNT
takeover offer was increased to RM5 per share from RM4.03 and RM3.13 per ICULS
from RM2.43 previously. Bernas offer was increased to RM3.70 per share from
RM3.25. Billionaire Tan Sri Syed Mokhtar Al-Bukhary, had via his four companies,
extended the takeover offer for both companies after he succeeded in his bid to
take Tradewinds (M) Bhd private.
5) PETRON
Petron Malaysia Refining & Marketing Bhd announce
that it has executed a formal agreement with its sister company, Petron Fuel
International Sdn Bhd to acquire, effective immediately, PFISB's Liquified Petrolem Gas marketing and sale
business.
The rationale in PMRMB acquiring the LPG marketing and
sale business of PFISB is logical given that 85% of Petron's market share in
the LPG business in peninsular Malaysia comes from PMRMB. PMRMB currently bottles 80% of its LPG
cylinders at its Port Dickson Terminal and 20% of its requirements at the
Westport Terminal bottling facility. The
Agreement is for a two year period and may be extended by mutual agreement
between the Companies. The total Consideration over the duration of the
Agreement (that also includes the above-mentioned variable bottling cost that
is charged at prevailing market rate of LPG) is expected to be RM16,733,000.
6) Market - Current trading pattern to continue. Stock
sold down to low levels showing some signs of revival include MRCB.
