FBM30 1663.32
+3.10points (+0.19%) Volume
1,101mil Value 1,604mil
1) KLCI was marginally higher erasing earlier losses
following IMF's decision to cut its global growth forecast to 3.3% for 2012.
Key heavyweights led by SIME and PBBANK were well supported after a move by
China to inject cash into the money market encouraged speculation it would
announce more stimulus measures. Market breadth turned positive with advancers
outpacing decliners 425:296. Futures closed 1660.5pts (3 points discount).
2) Heavyweights: SIME+1.24% RM7.78, PBBANK+0.41% RM14.56,
GENTING+0.57% RM8.73, MAYBANK+0.23% RM8.96, YTLPOWR+1.86% RM1.64, AXIATA-0.3%
RM6.73, PETDAG-1.25% RM22.12
3) DBT: COMPUGT 6.5mil @ RM0.09, APEX 3.9mil @ RM1.18
4) Situationals:
SUNREIT+2.65% RM1.55: SUNREIT is entering a sale and
purchase agreement with Sunway Medical Centre Bhd to acquire the land and
building of Sunway Medical Centre for RM310mil. This acquisition will boost
Sunway's total appraised asset value to RM4.94bil, largest among Malaysian
REITs. The acquisition is expected to be completed within 1Q13.
SUNREIT plans to undertake placement of shares worth up to RM320mil via a
bookbuilding.
5) POWER
The Energy Commission today extended power purchase
agreements for three existing gas-fired plants. Genting Sanyen Power Sdn. and
Segari Energy Ventures Sdn. were given 10-year extensions, while Tenaga was
granted a five-year renewal for its facility in Pasir Gudang, Johor. Gas used
to fuel these stations however will no longer be subsidized. No terms of the
new PPA were revealed,first-generation PPAs
average rates range from 13.5 sen/kWh-15.5 sen/kWh. Additionally TNB also won a bid to build and operate a 3
billion-ringgit gas-fired power plant.The 1,071-megawatt plant is expected to
begin operations in March 2016 in Prai, Penang.
Glaring omission was YTL Power, +ve for TNB, MMC.
6) Market - Rotational play into laggards to continue,
trading Buys Genting, Armada, POS, Mudajaya.