FBM30 1532.46
-11.75points (+0.76%) Volume
1,061mil Value 1,501mil
1) Markets across the region continued to fall sharply
with KLCI reaching a low of 1526.60 (-17.61pts) after Spanish banks were
downgraded by Moody's and Greece's debt rating was cut by Fitch. US economic
data also disappointed with manufacturing in the mid atlantic states
unexpectedly contracted. Index manage to bounce off lows after GENTING, GENM
and TENAGA was marked up at close. Broader market turned negative with
decliners trashing gainers 702:130. Futures closed 1526.5 (6 points discount).
2) Heavyweights: SIME-2.53% RM9.24, CIMB-1.38% RM7.15,
MAYBANK-1.05% RM8.46, YTL-2.31% RM1.69, AXIATA-0.56% RM5.32, PCHEM-0.77%
RM6.41, TENAGA+0.64% RM6.33, PETGAS+1.18% RM17.20
3) DBT: KFC 1.5mil @ RM3.82, KASSET 1.1mil @ RM7.85
4) Situationals:
MFLOUR-10% RM1.43: Share price slumped to its lowest
levels since mar 2011 after company reported 1QFY2012 net loss of RM598k
compared with a profit of RM29.8 million a year earlier. This was mainly due to
the significantly lower profit margins arising from high raw material cost and
stiff competition in the market.
5) Landmarks
Announced the signing of two Memorandums of Understanding
today. PT Bintan Hotel Utama, an indirect wholly-owned subsidiary of Landmarks,
had signed a MOU with Decennia to explore investment opportunity in undertaking
the development of an integrated resort destination known as Treasure Bay,
Pesona Lagoi Bintan on Bintan Island.
The developments will include a multi-themed hotel
development comprising two hotels and a commercial retail mall on land parcels
totalling approximately 7,340 square meters. Decennia, is a Singaporean construction solutions
provider specialising in commercial and residential projects.
Additionally, Primary Gateway Sdn Bhd , a wholly-owned
subsidiary of Landmarks had entered into a MOU with Skywave. Skywave is
developing a commercial seaplane operation that will include tourist
destinations in the region, such as Singapore and Indonesia. The parties are
desirous of co-operating with each other to extend the seaplane operation to
TBB. +ve as the company moves to transform itself into a
resort operator with the possibility of securing a gaming lic on the island as
Genting remains its majority shareholder with a 30% stake.
6) Market - Hope of a reversal in market fortunes will
hinge on the response from the G8 meeting this weekend to the current financial
turmoil in Europe which will largely guide the direction of global markets in
the short term as markets remain strongly biased to the downside.
