FBMKLCI 1723.14 +23.22pts (+1.37%) Volume 1.676b Value RM 2.103b
1) The KLCI surged to its day high following a series of
buying before the month end window dressing at auction which pushed the index
+1.37% today. Regional bourses were mixed as STI -1.45% led in losses followed
by SHCOMP -1.13% while NIKKEI +0.30%, HSI +0.56%, ASX +0.52% closed in the
green. Whilst the CONSTRUCTION +1.80% index gained the most grounds boosted by
GAMUDA +3.43%, IJM +1.94%, KEURO +2.60%, FINANCE +1.45% index also advanced helped
by heavyweights MAYBANK +2.33%, CIMB +3.46%, HLFG +3.52%. Market breadth was
positive with gainers beating losers by 467 : 365. Futures closed at 1708
(15points discount)
2) Heavyweights : MAYBANK +2.33% RN 9.20, CIMB +3.46%
RM5.38, AXIATA +1.43% RM 6.37, SIME +1.39% RM8.72, PBBANK +0.63% RM19.00, GENM
+2.89% RM4.27, MAXIS +1.98% RM6.67, PETGAS +1.65% RM22.08.
3) DBT: SKPETRO
605mil @ RM2.40 (10.09% PUC, matched Khasera Baru Sdn Bhd stake), UTOPIA
5.767mil @ RM0.04, BARAKAH 2.5mil @ RM0.98, TITIJYA 1.5mil @ RM1.72.
4) Situational:-
KAF +25.48% RM
2.61 - KAF Investment Bank Bhd is making a mandatory general offer (MGO) to
listed entity KAF-Seagrott & Campbell Bhd (KAFSC) at RM2.70 per share - a
nearly 30% premium over the last traded price of RM2.08. The MGO comes after
KAF IB has entered into an agreement to buy a 76.74% equity interest, or 92.09
million shares, in KAFSC from Akka Sdn
Bhd, Akka Holdings Sdn Bhd, Datuk Khatijah Ahmad and Thariq Usman Ahmad for
RM248.64 million cash.
5) AIRASIA/ MAHB
AirAsia Bhd has served a letter of demand amounting to
RM409 million MAHB for loss and damages incurred as a result of operating from
klia2 as well as from the LCC Terminal.
AirAsia said in its demand, it had stated that MAHB had
failed and/or breached its contractual duties and duty of care, causing the
airline to suffer and continue to suffer losses as a result of MAHB's
breach. AirAsia also claims that the
MAHB''s breaches had damaged AirAsia''s brand and reputation as the public
perception was that the failings of the facilities were within the control of
AirAsia, being the single largest operator of klia2
6) Market - Despite the higher close today we are not
convinced of a follow through next week given the domestic issues and global
uncertainties. Expect to remain range bound at best btw 1680pts-1740pts.
