FBM30 1653.36
-2.11points (-0.13%) Volume
781mil Value 1,209.5mil
1) KLCI ended on a weaker note easing from its high of
1657.72 (+2.25pts) as investors remain cautious following slowing
global economic growth and Germany's insistence of Greece maintaining its
budget cut commitments. Vessel players bucked the market led by ALAM+9%, TGOFF+4%, SEALINK+3% with market breadth turning positive
after gainers edged losers 316:348. Futures closed 1653pts (0.3 points
discount).
2) Heavyweights: AXIATA-1.37% RM6.49, SIME-0.51% RM9.72,
MAYBANK-0.22% RM8.94, CIMB-0.26% RM7.70, PBBANK-0.14% RM14.54, AMBANK-0.47%
RM6.33, MAXIS-0.43% RM7.02, GENTING+1.62% RM8.80
3) DBT: AMFIRST 128mil @ RM1.12 (18.6% PUC), SUNWAY 15mil
@ RM2.30, TRIUMPL 12.2mil @ RM1.00 (14% PUC, 15% Premium)
4) Situationals:
KFC+1.58% RM3.86, QSR+0.46% RM6.55: KFC and QSR have
called for EGMs on Nov 5 and Nov 6 respectively for the proposed disposal of
their entire businesses and undertakings to Triple Platform Sdn Bhd a wholly
owned subsidiary of Massive Equity Sdn Bhd in a deal that values both companies
close to RM5.2bil. The takeover offer via MESB values KFCH at a market
capitalisation of RM3.17bil or RM4 a share, while QSR is valued at RM2.06bil at
RM6.80 per share.
5) PLANTATION
The Ministry of Planttion, Industries and Commodities
today announced new measures and changes including abolishing the duty-free
shipment quota from Jan. 1 and reduce the export duty on the crude palm oil to
between 4.5 percent to 8.5 percent from 23 percent. The country has allowed
tax-free exports of 5 million tons of crude variety this year.
This could attract retaliatory measures by Indonesia if
this has not been done on a bilateral basis. Further more it doesn't change the
current over supply issue and rising inventory against weak demand. We continue
to recommend an underweight in plantations as current share prices levels are
still building in a rebound in CPO prices in the last quarter of the year which
could be too optimistic.
6) Market - Rotational play with focus on US and Europe
to continue. Stock to watch, WaSeong with flavour now turning to 2nd
line O&G names.