FBM30 1560.36
+5.18points (+0.33%) Volume
638mil Value 923mil
1) KLCI rebounded inline with the regionals which rose on
speculations euro policymakers and the G7 which are holding emergency talks
tonight will take action to address the worsening crisis. Market also took
positive from China's HSBC services May PMI which grew at the fastest pace in
19 months. Marker remain thinly traded with value traded falling below
RM1bn. Broader market was firmer with
advancers leading losers 411:275. Futures closed 1557.5 (3 points discount).
2) Heavyweights: MAYBANK+0.7% RM8.66, IOICORP+1.20%
RM5.06, CIMB+0.68% RM7.42, PBBANK+0.44% RM13.70, KLK+1.65% RM22.22,
AIRASIA+2.56% RM3.60, MAXIS+0.96% RM6.33, YTL+1.08% RM1.88
3) DBT: DBE 8.5mil @ RM0.075 (1.3% PUC), TFP 6.9mil @
RM0.08 (4.9% PUC, 53% discount), CBSA 5mil @ RM0.425 (6.25% premium)
4) Situationals:
ARMADA-1.27% RM3.90: Share price fell and ended at its
day's low despite announcing at midday, That its subsidiary has been awarded a
charter contract by Momentum Engineering (LLC) Turkmenistan to lay
approximately 15km of various size pipelines in the Caspian Sea. The contract
is for 30days commencing in June. This increase its orderbook to over RM7bn .
5) O & G
Petronas, which is embarking on the first commercial
floating liquefied natural gas (FLNG) facility in Malaysia, has awarded the
contract to a consortium comprising Technip France SA, Technip Geoproduction
(M) Sdn Bhd and Daewoo Shipbuilding & Marine Engineering Co Ltd. The
contract was for the engineering, procurement, construction, installation and
commissioning (EPCIC) of the project. The facility will be moored about
180 km off the coast of Bintulu, Sarawak, and is designed
to produce 1.2 million tonnes a year (mtpa) of LNG. This could benefit Malaysia
Marine and Heavy Engineering as it has
Joint Venture Agreement with Technip Geoproduction (M) Sdn Bhd
("TPGM") for the establishment of a jointly controlled entity, to be
known as Technip MHB Hull Engineering Sdn Bhd ("TMH"), that will
perform hull engineering services on floating structures for the oil and gas
industry. +ve
6) Market - Current jittery thin trading conditions to
continue as no solutions are yet in the immediate horizon to fix the Euro debt
problem.