FBM30 1654.44
+1.08points (+0.07%) Volume
1,003mil Value 981.6mil
1) KLCI ended positive after bargain hunting of selected
heavyweights in last hour trading saw index rebounding from its low of
1649.15pts (-4.21pts). Investors sentiment remain cautious despite China's
export grew more than estimated last month while its inflation slowed. Index
were supported by SIME, PCHEM and PETDAG as value failed to reached RM1bn mark
in a thinly traded market. Market breadth was negative after decliners outpaced
advancer 389:285. Futures closed 1657pts (2.5 points premium).
2) Heavyweights: CIMB-0.52% RM7.66, TENAGA-0.57% RM6.95,
MAXIS-0.71% RM6.97, SIME+0.72% RM9.79, PCHEM+0.93% RM6.49, PETDAG+1.72%
RM22.48, YTLPOWR+1.90% RM1.61
3) DBT: IDMENSN 10mil @ RM0.10 (4.2% PUC, 16.6%
discount), KNM 8mil @ RM0.685, SCN 5.3mil @ RM0.155 (2.65% PUC)
4) Situationals:
SAAG-70% RM0.015: Shares of SAAG Consolidated Bhd fell
substantially after announcing that they are looking to finalize an acceptable
debt restructure, deferred repayment of principal and interest of the banking
facilities. SAAG also suspended payments to creditors in the ordinary course of
business with immediate effect. A meeting between group's loan creditors namely
Arab Malaysian Bank Bhd, Export-Import Bank of Malaysia Bhd and Idaman Capital
Bhd (CLO Holders) with Malayan Banking Bhd and State Bank of India are
currently in talks.
5) TENAGA
Tenaga Nasional
Berhad announced that today it has entered into a Joint Development Agreement
with PT PLN, the Indonesian state owned utility company involved in generation,
transmission and distribution of electricity and PT Bukit Asam, a company
primarily involved in coal mining and a holder of the Production Operation
Mining Permit in Indonesia. The Parties previously signed a Memorandum of
Understanding on 18 June 2012.
With the signing of this JDA, PT PLN, PTBA and TNB shall
engage in binding terms and conditions pertaining to the development of the
Coal Fired Power Plant Project, Coal Mine Project and HVDC Interconnection
Project.
The binding terms and conditions outline the
responsibilities and roles of TNB, PT PLN and PTBA. The salient
responsibilities include the following:-
(i) TNB taking material role in the procurement relating
to the HVDC Interconnecting Project;
(ii) PT PLN leading in the development of Coal Fired
Power Plant Project; and
(iii) PTBA for the development of the Coal Mine Project.
The HVDC Interconnecting Project will involve a
construction of an interconnection line from Telok Gong in Melaka to Garuda
Sakti in Sumatera, Indonesia and the development and construction of a mine
mouth coal fired power plant in Peranap, which is located at approximately 250 km
south east of Pekanbaru, Sumatera, Indonesia. The capacity of the power plant in the above Project will
depend on the outcome of the studies under the JDA. The Parties are envisaged to hold the appropriate level
of interest in special purpose vehicles that will undertake the above Projects.
+ve this is in line with TNB's current initiative of
growing non regulated business revenue to RM5bn by 2015 in viewing of
the maturing domestic market.
6) Market - Rotational play to continue in select O&G
names as evident by recent interest in Perisai, Alam, Perdana. Laggards worth
accumulating include Waseong, Coastal, Penergy.