FBM30 1576.07 pts
-2.34 pts ( -0.15%) Volume 707.4m
shares Value RM1.07b
1) The euphoria in the market from the day earlier was
short-lived, as the KLCI surrendered part of the gain recorded, with the index
opening lower & trading sideways throughout the day before closing 2.34
points down. This on the back of lower regional markets, as rising Spanish bond
yields fueled speculation that a bailout for the national banks won't arrest
the spread of the European debt crisis. Investors largely remained sidelined,
as reflected by the paltry 707m shares transacted. The broad market was generally negative, with losers
thumping gainers 370:271. Futures closed 1574.5 pts ( 1.57 pts disc).
2) Heavyweights: GENM -2% RM3.46, MISC-1.9% RM4.03, MMC
-1.1% RM2.68, GENTING-0.8% RM9.50, TENAGA-0.6% RM6.44, AMMB-0.5% RM6.20,
MRCB+1.9% RM1.61, MAXIS+1.7% RM6.59, DRB +0.8% RM2.42.
3) DBT: UNICO 5.2m @ RM1.20, HARTA 3.1m @ RM3.85,
HUBLINE-WA 3m @ RM0.035.
4) Situationals:
UEMLAND +0.5% RM1.96 : after Co announced that it was
undertaking a joint development ( with Khazanah on a 51:49 JV) of a high end
residential resort surrounding 2 golf courses & a beach club in Desaru,
Johor. The group plans to acquire 678.7 acres of land at a purchase consideration
of RM485.3m ( RM16.40 psf). The project has a GDV of RM5.4b & is expected
to commence in 2013. At the same time the company also announced that it will
be adopting a dividend policy of a payout of 20% to 40% of the Group's
consolidated realized Profit After Tax and Minority Interests, subject to among
others, availability of distributable reserves and adequate free cash flow from
operations.
5) CBIP
Its wholly owned subs, Modipalm Engineering Sdn Bhd,
entered into a Contract Agreement with Maxiwealth Holdings Sdn Bhd (a wholly
owned subsidiary company of Jaya Tiasa Holdings Bhd) to supply and install
partial of Mechanical and Engineering Works for one (1) unit 120 MT/Hr of FFB
Palm Oil Mill for RM40m. + ve; adds significantly to its orderbook of RM400m.
6) Markets - Uncertainties will continue to push
investors out to the side lines as Europe grapples with higher Spanish and
Italian bond yields and the rest of the World waits in anticipation of growth
enhancing stimulus packages.
