FBMKLCI
1685.40 +0.40pts
(+0.02%) Volume 1,346mil Value RM2,894mil
1) KLCI hit a high of 1692.85 (+7.85pts) before
announcement of dissolution of Parliament saw index plunging to a low of
1632.28 (-52.72pts) in morning session. However bargain hunting of key
heavyweights ensured index recover and close in positive territory. Regional
market ended mixed with investors cautious ahead of US job data while raw
material producers were generally weaker. Market breadth was negative with
losers outstripping gainers 585:237. Futures closed 1687 pts (1.5pts premium).
2) Heavyweights: CIMB+1.17% RM7.74, GENTING+0.99%
RM10.20, BAT+1.88% RM64.90, DIGI+0.66% RM4.60, PBBANK-0.73% RM16.30, YTL-2.39%
RM1.63, PCHEM-1.1% RM6.29, PETGAS-1.05% RM18.80
3) DBT: DIGI 143.818mil @ RM4.57 (1.85% PUC), NEXTNAT
20mil @ RM0.10 (3.05% PUC), HUBLINE 18mil @ RM0.06
4) Situationals:
BRAHIMS+9.8% RM0.89: Brahim's Holdings Bhd has secured
in-flight catering contracts from five leading airlines that will boost its
revenue and net profit this year. Its 70% subsidiary, Brahim's Airline Catering
Sdn Bhd (BAC), formerly called LSG Sky Chef-Brahim's Sdn Bhd, secured the
contracts from Air France, Philipines Airlines, Nas Air, Xiamen Airline and
Turkish Airlines.
5) Karambunai
Karambunai Corp announced that Dapan Holdings Sdn Bhd an
indirect wholly-owned subsidiary of Karambunai Corp Bhd proposed to dispose ten
lots of leasehold land to Sinkong Construction Sdn Bhd for an aggregate cash consideration of
RM35.05m. The Property comprised ten lots of leasehold land measuring
approximately 5,419,731 sq. ft. is situated in Bandar Sierra, KM 20, Jalan
Tuaran, Kota Kinabalu, Sabah, held under Country Lease 015414972. The leasehold
land is for a period of 999 years, expiring on 1 January 2905. The Property is
currently undeveloped land approved for mixed used development.
The Property was acquired on 14 March 1997 with an
original investment cost o RM16.12 million and the net book value as at 28
February 2013 was RM16.61 million.The Proposed Disposals is expected to result
in an estimated after-tax gain of approximately RM12.52 million to the KCB Group
based on the net book value of the Property of RM16.61 million as at 28
February 2013.
6) Market - With the the parliament finally dissolved,
interest will now turn to the polling dates which is expected to fall on the
20th or 27th of April. Today's roallercoaster ride on the CI could be a prelude
of the movements of the market in the month ahead. We advocate a trim into
strength with the market reattempting to break its all time high of 1700pts as
we expect buying opportunities on dips depending on political news flows.
