FBM30 1660.22
-0.01points (-0.00%) Volume
882mil Value 1,272mil
1) KLCI ended at overnight levels after paring its
earlier losses (Lo:1653.63pts -6.6pts) as investors sentiment remain cautious
ahead of a meeting among Eurozone finance ministers tonight. Regionals were
mostly negative despite HSBC services PMI for Sept showing improvement to 54.3.
Market breadth turned negative in a lightly traded market with losers leading
gainers 336:304. Futures closed 1663.5pts (3.3 points premium).
2) Heavyweights: GENTING-1.48% RM8.68, MAYBANK-0.56%
RM8.94, PETGAS-0.8% RM19.90, YTL-1.14% RM1.74, MAXIS-0.57% RM7.01, CIMB+0.91%
RM7.77, PBBANK+0.42% RM14.50, PETDAG+1.17% RM22.40
3) DBT: DBE 4.5mil @ RM0.07, BAHVEST 3mil @ RM0.62, LEESK
3mil @ RM0.11
4) Situationals:
MISC+3.06% RM4.38: share price rose after the proposed
divestment of Gemusut- Kakap Semi FPS. MISC is expected to gained total
cash proceed RM5.29bil for the sale of its semi-floating production system to
Petronas CariGali. The proceeds will be used to paredown debt greatly thus
strengthen the firms balance sheet.
5) Latexx
SEMPERIT AG Holdings has entered an agreement with major
shareholder to acquire his entire share stake and warrants totaling 47.3% . It
then intends to undertake a voluntary conditional cash offer for all
outstanding shares in Latexx and warrants at RM2.30 and RM1.77 respectively.
The offer price represents a 28.5% premium to the suspended price of RM1.79 or
12.1x PE based on cons(f) FYE 2012.
This acquisition could spark renewed interest in Adventa
which is also undergoing a proposed sale of its rubber glove assets excluding
Sun Healthcare (a medical equipment distribution arm) to a SPV, Aspion formed
by its major shareholders and a private equity group for RM321m or
RM2.10/share. There is a commitment to distribute at least RM1.70/share of the
sale proceeds to entitled shareholders with the balance earmarked for new
business acquisition in order to maintain Adventa's listing status.
6) Market - The KLCI will continue to struggle to post
new highs, weighed down by plantations ahead of the monthly CPO numbers due out
on the 10th. Investors risk appetite has however increased evident by the
buying interest in laggards seen in the past few sessions which included Alam,
UEMLand, TimeComm. Other names that fit the bill are, Waseong, Dayang, Sunway.