FBM30 1571.40 -7.98 points (-0.51%) Volume 2,414.8mil Value 1,926mil
1) KLCI was trading sideways for most of the day inline with the regionals, as stocks look to consolidate with weaker economic outlook in China being offset by a strong economic data in US. However index gapped down at auction period falling 6 points after selected heavyweights was sold down led by TENAGA, PETGAS,GENTING and ARMADA. Penny stocks was active posting big gains led by AGLOBAL+90%, MTRONIC+56%, IPOWER+27%. Broader market was positive with advancers outpacing decliners 437:330. Futures closed 1576 (4.5 points premium).
2)Heavyweights:TENAGA-2.15% RM6.36, PETGAS-3.61% RM16.00, GENTING-1.48% RM10.64, IOICORP-1.50% RM5.24, YTL-3.89% RM1.73, AXIATA-0.78% RM5.11, CIMB+1.19% RM7.66, MAYBANK+0.57% RM8.81
3)DBT: MTOUCHE 15mil @ RM0.40 (6.6% PUC, 20% discount), OLDTOWN 3mil @ RM1.29
4) Situationals:
MTRONIC+56% RM0.125: Bursa Malaysia has issued an Unusual Market Activity (UMA) query to MTRONIC following a sharp rise in volume and price of the company’s shares with volume reaching 400mil shares. Management responded saying it is unaware of any developments after it consulted its directors on the matter.
DELEUM+10.41% RM2.44: Share price jumped after company proposed a 1 for 2 bonus issue of 50m new shares of RM1 each. The proposed bonus issue would be capitalized from its retained earnings.
5)DRB-Hicom / Proton: DRB-Hicom has announced that it’s proposed acquisition of 42.74% of the issued & paid up share capital of Proton Holdings for a total cash consideration of RM1.291b or RM5.50 per Proton share has been completed. With the completion of the acquisition, Proton in now a 50.01% subsidiary company of DRB-Hicom. Proton has also announced the resignation of it’s Chairman & Director Dato Sri Mohd Nadzmi. Co wish to highlight that the resignation of Dato Sri Nadzmi as Chairman & all other appointments is part of the terms of the SSPA ( share sale & purchase agreement between RB & Proton signed in Jan 2012); Expected, with the completion of the acquisition, DRB can proceed to serve a notice of take-over for all remaining shares in Proton not already owned for RM5.50 per share.
6) Market - to rebound after the FTSE Asia-Pacific ex Japan Index rebalancing, and maintain its steady upward trend as it approaches the Q1 closing. stocks at attrative levels are HLBank, MISC, MHB, Maybulk, Armada, CMMT, Petgas, IJMland.