FBM30 1599.27 -7.36 points (-0.46%) Volume 1,195mil Value 1,103mil
1) KLCI ended below its psychological 1600pts mark as investors took profit following recent rally and US Fed Reserve’s decision of holding off more monetary stimulus. Market was also generally quiet with value traded just above RM1bn as regional markets China and Hong Kong was close for holiday. Broader market was negative with decliners doubling advancers 501:235. Futures closed 1591 (8 points discount).
2) Heavyweights: UEMLAND -2.20% RM 2.22, TENAGA -1.52% RM 6.47, DIGI -1.50% RM3.93, MHB -1.28% RM5.39, CIMB -1.15% RM7.72, AIRASIA +0.59% RM3.43 GENTING +0.36% RM11.08, + UMW +0.41% RM7.34, SIME +0.10% RM9.88.
3) DBT: BJCORP 42mil @ 0.94, CIHOLDING 3.6mil @ 1.42 (13% premium)
4) Situationals:
PRESBHD+2.35% RM0.87: Presbhd entered into a MOU with Accreditation Service for International College (ASIC). The MOU was for the marketing and sale of the 1Citizen Program and would enable the company to generate revenue and venture into the European market.
PRESBHD+2.35% RM0.87: Presbhd entered into a MOU with Accreditation Service for International College (ASIC). The MOU was for the marketing and sale of the 1Citizen Program and would enable the company to generate revenue and venture into the European market.
TENAGA-1.52% RM6.47: Share price was easier following Indonesia’s plans to inplement 25% export tax on coal and base metals this year with taxes increasing to 50% by 2013.
5) KURNIA/ AMMB
AMMB’s 51% owned insurance subs, AmG Insurance Berhad 51% received BNM’s notification that the Minister of Finance has granted approval pursuant to section 67 of the Insurance Act 1996 for acquisition by AmG of the 100% equity interest held by Kurnia Asia Berhad (“KAB”) in Kurnia Insurans (Malaysia) Berhad.
Details on the Proposal will be released subject to the signing of a definitive agreement between AmG and KAB.
Market was earlier speculating that the purchase could be at between 2.5x-3x book value.
6) Market – Consolidation to continue around the 1580-1620pts range ahead of US job data at the end of the week.