FBM30 1653.90
+7.79points (+0.47%) Volume
1,494mil Value 1,682.5mil
1) KLCI posted another new high 1655.49pts (+9.38pts) led
by AXIATA and CIMB as markets across the region gained on expectation central
banks will take action to boost the economy after China's August factory output
unexpectedly shrank to 49.2, its first contraction in nine months. However
market breadth stayed negative with decliners leading gainers 424:360. Futures
closed 1646pts (8 points discount).
2) Heavyweights: AXIATA+3.51% RM6.20, CIMB+1.03% RM7.87,
TM+1.64% RM6.18, IOICORP+0.97% RM5.19, DIGI+0.62% RM4.84, YTL+1.66% RM1.84,
PETGAS-1.03% RM19.18, MAXIS-0.85% RM6.98
3) DBT: GLOTEC 22.5mil @ RM0.075, NICORP 12.7mil @
RM0.315 (6.8% premium), INGENS 5mil @ RM0.50 (43% premium)
4) Situationals:
DSONIC+8.5% RM2.17: DSONIC which is involved in smart card
programs including MyKad, bank cards and credit cards made an impressive debut
on the main board. Share price reached a high of RM2.38 before easing to close
at RM2.17 with 12mil shares traded. Its IPO was price at RM2.00 with 20.37mil
new shares issued raising RM40.75mil. The company has secured contracts worth
RM531mil which includes contract from the National Registration department to
supply four million new raw MyKads and also from the Immigration Department of
Malaysia to supply new passport polycarbonate data page with laser engraving
personalisation equipment from Feb 1, 2013 to Jan 31, 2018.
BRDB+5.6% RM2.83: Company received a notice of
conditional take-over offer from major shareholder, Ambang Sehati Sdn Bhd, to
acquire BRDB shares at a cash offer price of RM2.90 per offer share and all outstanding BRDB Warrants at a cash offer
price of RM1.80.
5) MUHIBBAH
Announced today that they have received a lawsuit from
ZAQ Construction Sdn Bhd, the Managing Contractor in the Asia Petroleum Hub
("APH") Project, against CIMB, APH, Lim San Peen (the Receiver &
Manager appointed by CIMB over APH) and Muhibbah Engineering (M) Bhd
("MEB"). ZAQ is alleging MEB's involvement in the restructuring
scheme proposed by the Receiver & Manager in January 2012 vis-à-vis the APH
Project, and thereby indicating its support for such proposed scheme. The
proposed restructuring scheme was subsequently called off by the Receiver due
to withdrawal of support by CIMB in end June 2012. ZAQ is seeking, amongst
others, damages against all the Defendants, including MEB for such involvement
and indicated support. MEB is of the view that the claim brought by ZAQ is
frivolous and the Company will defend the case.
This further plunges the company deeper into the APH
quagmire where full provisions are yet to be made for the work done for the
project. Prefer subsidiary Favalle which has no exposure to APH and trades at a
cheaper PE.
6) Market - ECB decision on Thursday likely to set the
tone for risk assets in September.