FBM30 1655.47
-3.93points (-0.24%) Volume
800mil Value 1,108.5mil
1) KLCI fell for 2nd consecutive days following a weaker
DOW overnight and S&P's decision to downgrade Spain's rating by two notches
to BBB-. Malaysia also saw industrial output slid in August for
the first time in more than a year on weaker production at factories and
utilities. Market participation remains low with value holding just above the
RM1bn mark with market breadth staying negative after decliners outpaced
advancers 362:285. Futures closed 1661pts (1.5 points discount).
2) Heavyweights: AXIATA-0.75% RM6.58, CIMB-0.77% RM7.72,
PBBANK-0.27% RM14.56, YTL-1.14% RM1.74, PETDAG-1.563% RM21.94, IOICORP-0.4%
RM5.06, YTLPOWR-1.24% RM1.59, SIME+0.5% RM9.77
3) DBT: KRETAM 4.7mil @ RM2.16 (4.3% premium), SCABLE
1.6mil @ RM1.57, 3A 1.4mil @ RM1.17 (10% discount)
4) Situationals:
GOLSTA+3.96% RM1.05: Golsta Synergy Bhd rose to the
highest of RM1.13 in over 7 years after responding to Bursa's UMA query that
they are in negotiations for the proposed sale of the company's non-profitable
businesses abroad, which includes their oil palm seed and seedlings cultivation
operations in Indonesia and a rubber related operations in China. Recent
disposal of 6.09mil shares or 14.5% of the company at 50 sens via dbt by GS
capital suggests that the block will be taken up by a new major shareholder.
5) Alam Maritim
Resources Berhad
The company accounced that they have accepted the award
from a local oil and gas company for the provision of one unit workboat. The
Contract is for a primary period of one year with an extension option
exercisable by the Client for another one year. The Contract is for a value of
up to RM69.22 million (if the Client engages the workboat for
the full duration, inclusive of the optional period).
+ve as reflected in their 1H numbers where 2012 is a year
of recovery. The market however is still waiting for significant
vessel contracts or major OIC deals for a rerating to occur and help the
company break out of its dreary range of 50sen to 57sen.
6) Market - A lack of news flows on the domestic front
will see investors once again refocus their attention on the Euro debt crisis
and US earnings data. This is likely to lead to a tighter trading range on the
KLCI from 1640-1660pts. Accumulate Genting which is trading at two year P/Bk
low levels.