FBM30 1620.55
+6.12 pts (0.38%) Volume 1.14b Value RM1.52b
1) KLSE extended it's gain for the 6th day in a row,
despite poor regional performances as interest rate cuts in Europe & China
failed to boost confidence in the global economy. The market opened on a
nervous note before rallying in the second session to close at a new all time
high of 1620.55 pts. All sectors recorded gains, with the Property sector+1% outperforming, KLCCP+4.3%, BRDB+3.4%,
UEMLAND+1.4%. The broader market was positive with gainers thumping losers
482:281. Futures closed 1624 pts ( 3.45 pts prem) .
2) Heavyweights: GENM+2.8% RM3.68, GENT+2% RM9.85,
MMC+1.9% RM2.61, BAT+1.8% RM57.00, AIRASIA+1.6% RM3.81, DIGI-0.7% RM4.27,
DRB-0.8% RM2.62, BTOTO-0.5% RM4.31.
3) DBT : SNTORIA 2m @ RM0.61, IJMLAND-WA 1.9m @ RM0.75,
AYS 1.2m @ RM0.42 (8% disc).
4) Situationals:
HSL-0.6% RM1.65 : after Co announced that it had secured
a RM291m turnkey contract for the construction of UTM Mukah from concessionaire
KP Mukah Development SB. The project is expected to take 36 months &
scheduled for completion by 3QCY15. This brings YTD job wins to RM472m. HSL is targeting RM600m worth of new jobs this year. (
Stock+5% the day before).
OSK +7.7% RM1.54: after receiving confirmation from Bursa
Malaysia that it will not trigger PN17 criteria upon the completion of it's
proposed disposal to RHB Cap Bhd it's equity interest in OSK Investment Bank,
20% in OSK Trustee Bhd, 20% in Malaysian Trustee Bhd & 100% in OSK
Investment Bank ( Labuan) Ltd. Accordingly, OSK Holdings will not be classified
as an affected listed issuer under PN17 upon completion of the proposed
disposal.
5) MAYBANK
Announced that it had, received an approval letter dated
29 June 2012 from Badan Pengawas Pasar Modal dan Lembaga Keuangan
("Bapepam") , wherein Bapepam has granted a further extension of time
of six months starting from the date of the Approval Letter for Maybank to
fulfill the Sell-Down Requirement for PT Bank Internasional Indonesia which
Maybank owns 97.5%.
Bank of Indonesia in June had proposed ownership limits
of local Indonesian banks to 30% for individuals and 40% for financial
institutions. The new rules will not be applied retroactively.
6) MMC
MMC has requested suspension from trading on 9th July
pending a material announcement. They
are likely to announce a General offer for 62.6% owned Aliran Ihsan which is
also suspended. Aliran is involved in water treatment processes.
7) Market - Uptrend was maintained today but momentum
slipping , immediate target almost achieved at 1625, sell into strength some of
our recent calls that have outperformed, Kian Joo, Faber, MISC,.
