FBMKLCI
1690.27 +2.28pts
(+0.14%) Volume 1,119mil Value RM1,810mil
1) KLCI were rangebound trading near overnight levels as
investors rotated to smaller cap names while key heavyweights took a
breather pending the announcement of
polling dates tomorrow. Regional markets were boosted by benign China inflation
for March while US reporting season started with Alcoa beating estimates.
Rotational play saw steel names outperform led by LIONIND+12%, KINSTEL+13% and
HIAPTEK+7%. Market breadth was positive with gainers leading decliners 433:314.
Futures closed 1683pts (7pts discount).
2) Heavyweights: CIMB+0.91% RM7.74, BAT+2.32% RM63.48,
GENTING+0.6% RM10.16, PCHEM+0.63% RM6.39, KLK+0.95% RM21.30, PBBANK-0.37%
RM16.28, IHH-1.59% RM3.71, SIME-0.22% RM9.24
3) DBT: NEXTNAT 30mil @ RM0.10 (4.59% PUC, 13% discount),
JOHAN 26.5mil @ RM0.135 (4.25% PUC)
4) Situationals:
WCT-3.27% RM2.37: WCT BHD has lost the Batinah Expressway
joint venture (JV) project contract worth in excess of RM1 billion in Oman
after the Sultanate decided not to proceed with the project. WCT said that the
director of Tenders and Contracts Department of the Ministry of Transport and
Communications of Oman had on April 6 informed the company and Oman Roads
Engineering Company LLC (its JV partner) of the decision not to proceed with
the project.
5) TDM
Company is proposing to implement the following:-
(a) a proposed share buy-back, which requires TDM to seek
the shareholders' approval for the authority to purchase the Company's own
shares up to ten per centum (10%) of the issued and paid-up share capital of
the Company at any given point of time during the Authorised Period.
(b) a proposed bonus issue of 49,388,722 new TDM Shares
on the basis of one (1) Bonus Share for every five (5) existing TDM Shares held
at a date to be determined
(c) a proposed share split involving the subdivision of
each TDM Share into five (5) ordinary shares of RM0.20 each in TDM
The Proposed Bonus Issue is undertaken to reward TDM's
shareholders, in addition, the Proposed Bonus Issue is expected to enhance the
marketability and trading liquidity of TDM Shares on Bursa Securities by way of
a larger capital base. Further, the Proposed Bonus Issue will result in an
increase in the Company's share capital base to better reflect the size of
operations of the Group. The Proposed Share Split is expected to enhance the
marketability and trading liquidity of the ordinary shares of the Company as a
result of the increase in the number of shares in issue. In addition, the
Proposed Share Split is expected to appeal to a wider group of shareholders and
investors in terms of the affordability of the shares of the Company.
Based on today's closing price of RM4.20, the theoretical
ex price will be RM0.70 with its PUC of 245.7m shares @ RM1.00 increasing to
1481.6m shares @ RM0.20.
6) Market - Current rotational play to continue, all eyes
on EC announcement of nomination and polling dates.
