FBM30 1626.38
+0.89 points (+0.05%) Volume
1,290.6mil Value 1,616.5mil
1) Market closed near overnight as investors sentiment
remains cautious after Italy rating were downgraded 2 notches by Moody's
stocking worries over Europe debt crisis. Weaker economic numbers led by
Singapore 2Q GDP(-1.1% qoq) and China GDP(7.6% yoy) also weighted on the
market. Defensive names outperformed led by TM+1.89% RM5.92, MEDIA+2.21%.
Market breadth was marginally positive with advancers edging decliners 379:367.
Futures closed 1626.5pts (parity).
2) Heavyweights: TM+1.89% RM5.92, TENAGA+0.46% RM6.56,
DIGI+0.46% RM4.31, MAYBANK+0.23% RM8.78, KLK-1.32% RM23.84, GENTING-0.63%
RM9.54, AXIATA-0.35% RM5.74, PETGAS-0.78% RM17.86
3) DBT: BJASSET 20mil @ RM0.965 (1.8% PUC), RPB 15mil @
RM0.38 (1.7% PUC, 7.3% discount), BJCORP 10.1mil @ RM0.73 (3.3% discount)
4) Situationals:
UMLAND+5.08% RM2.48: Tan Sri Syed Mokhtar Al-Bukhary and
a group of investors have offered to buy out and privatize UMLAND at RM2.50 per
share. The buyout came after 20.75% block was crossed off market yesterday @
RM2.50 which is believed to be Temasek Holding's stake.
MAXIS+0.77% RM6.55: Share price were firmer after
announcing plans to collaborate with REDTONE on infrastructure and spectrum
sharing to enable both players to fast track their roll out of 4G LTE network
throughout the country. Services is targeted to be launched by early next year
in selected Klang Valley areas.
5) TM+1.89% RM5.92 the High Court of Malaya at Kuala Lumpur had today
granted an order confirming TM's Proposed Capital Repayment RM1,073.2mil (30sen
per share) exercise to be carried out based on the special resolution approved
by the shareholders of TM at its Extraordinary General Meeting held on 8 May
2012. All requisite approvals in relation to the Proposed Capital Repayment
have been obtained. The Board will fix and announce the entitlement date for
the Proposed Capital Repayment in due course. Expected.
6) Tanjung Offshore (TGOFFS)
TGOFF's subsidiary, Gas Generators (M) Sdn Bhd (Gastec)
has on 12 July 2012, received a Purchase Order from Havayar Trading LLC, Dubai
for the supply of gas generator packages amounting to approximately RM80.0
million. This contract is expected to be completed by July 2013 - +ve.
7) Market - while
the KLCI index may grind higher on the back of a few core blues and there may
be sporadic rotational plays amongst the laggards, the broad market is likely
to continue to correct or consolidate the gains of the recent rally.
