1) KLCI was firmer after Malaysia's industrial production
for Feb came in at 7.5% yoy beating estimates of 5% growth. Index recovered
from its low of 1586.99 (-4.29pts) as today saw buying support for selected
heavyweights led by Genting and IOICORP. Plantation+0.96% was the outperformer
as CPO inventories fell in march and CPO price reached RM3,625/MT. Market
breadth was slightly negative with losers edging gainers 350:340. Futures closed 1590.5 (6.5 points
discount).
2) Heavyweights: GENTING+2.21% RM11.08, IOICORP+2.08%
RM5.40, PBBANK+0.3% RM13.72, AXIATA+0.38% RM5.34, MAYBANK+0.23%
RM8.86, AMMB+0.64% RM6.34, TENAGA-1.1% RM6.37
3) DBT: BJCORP 6.5mil @ RM0.93, TIGER 5.5mil @ RM0.16,
MEDAINC 5mil @ RM0.68 (15% discount)
4) Situationals:
HIBISCS-2.27% RM1.72:
trading was suspended for an hour in the morning from 9:17am as company announced
Lime Petroleum, which is jointly controlled by Hibiscus Petroleum (35%
holding), Schroder & Co Banque S.A and Rex Oil & Gas Limited, signs
Letter Of Intent to acquire a proportion of North Energy's interest in four
concessions located offshore Norway. Share price reach a high of RM1.79 but
ended weaker on profit taking.
Incorporated Pengerang LNG (Two) Sdn Bhd
("PgLNG-2") under the Companies Act, 1965 with an initial issued and
paid-up share capital of RM2.00 comprising 2 ordinary shares of RM1.00 each.
The intended business activities of PgLNG-2 is to undertake Liquefied Natural
Gas ("LNG") terminal storage facilities, regasification of LNG into
natural gas and handling services. +ve as the group is expected to be one of the
main beneficiaries of RAPID.
6)Market - KLSE will be closed tomorrow for the King
installation and will resume on Thursday. With limited domestic newsflow,
trading ahead will be looking for direction from the US reporting season and the outcome of
China's State Council meeting tomorrow.