FBM30 1584.87
-6.17points (-0.39%) Volume
963mil Value 1,194mil
1)KLCI snapped its winning streak, as global markets led
by Nikkei-2.7% and HSI-2.6% dropped on concerns about the impact of the weekend
election in France and Greece over the Eurozone debt crisis and weaker US job
data numbers. Index dipped to a low of 1579.74 (-11.30pts) before buying
support of key heavyweights led by GENTING, IOICORP, CIMB pared losses. Broader
market turned negative with losers outnumbering gainers 540:208. Futures closed
1578 (7 points discount).
2)Heavyweights: TENAGA-1.52% RM6.50, PCHEM-1.50% RM6.55,
GENTING-0.75% RM10.56, AIRASIA-2.75% RM3.54, HLBANK-1.29% RM12.20,
UEMLAND-3.77% RM2.04, IOICORP-0.38% RM5.25
3) DBT: SCABLE 20.7mil @ RM1.70 (15.4% PUC, 11% discount,
matching Leaders Universal stake), RPB 12.9mil @ RM0.38 (1.5% PUC)
4) Situationals:
MEGB+1.87% RM1.09: Newspaper reported company could be
rewarding shareholders as much as 27sen from the balance of its
unutilised funds raised from its IPO in 2010. There are RM73.66mil remaining
from IPO proceeds and a plot of land in Kajang intended for the Masterskill
University College but is now on the backburner worth RM38.8mil.
5) Armada
Announced that its subsidiary, Bumi Armada Navigation Sdn
Bhd, has signed a five-year charter and operations contract with a Mexican
company, Tecnologias Relacionadas con Energia y Servicios Especializados S.A.
de C.V.(TRESE) for its accommodation workboat, Armada Firman 3.
Armada Firman 3 will provide accommodation and offshore
services to support oil field activities in the Mexican territorial waters. The
75 m long vessel with DP2 (dynamic positioning) capability is classed by ABS to
safely accommodate 218 non-industrial personnel as per SOLAS requirements. It
is equipped with 600 m2 deck space and a 40 tonne SWL (single wire line) deck
crane for maintenance and installation activities. This five-year contract is estimated to be worth
approximately USD 65 million and comes with an option for extension of a
further 5 years. The contract is expected to be effective 7 May 2012. +ve but market is still expecting the group to secure two
sizeable FPSO contracts this year to justify the current rich
valuation.
6) Market - Risk off trades due to weaker US economic
data and European political issues coupled with domestic GE concerns will see
the current cautious trend continue with investors looking to sell into bounces
until a clearer trend emerges.