FBM 1651.98
-0.77pts (-0.05%)
Volume 767.9mil Value RM1,326mil
1) KLCI snapped its positive streak falling to a low of
1644.53(-8.22pts) in the morning, before paring its losses as
investors were buoyed by China's HSBC PMI preliminary numbers for December that
came in at 50.9. HK+07% and SHCOMP+4% jumped on speculation China's government
will lean support to the markets ahead of an annual policy setting meeting over
the weekend. Market breadth remained negative with decliners edging advancers
339:304. Future closed 1651 (1point discount).
2) Heavyweights: MAYBANK-0.55% RM9.02, IOICORP-0.6%
RM4.97, KLK-1.2% RM21.32, AXIATA-0.31% RM6.51, PETDAG-1.68% RM22.18, UMW+2.38%
RM12.04, PETGAS+0.87% RM18.64, GENTING+0.43% RM9.29
3) DBT: E&O 59.192mil @ RM1.59 (5.21% PUC), ANCOM
11.14mil @ RM0.39 (5.1% PUC), PELIKAN 5.551mil @ RM0.685 (4.2% discount), ASTRO
5mil @ RM2.87 (2.7% discount)
4) Situational:
PENERGY-3.55% RM1.63: Petra Energy is proposing a RM102
million rights issue to fund its participation in small field risk service
contracts as well as finance its expansion into upstream activities. The oil
and gas offshore services provider said it will undertake a renounceable rights
issue on a basis of one rights share for every two existing shares. The group's
30% owned Coastal Energy KBM Sdn Bhd has a risk service contract with Petroliam
Nasional Bhd (Petronas) for the development and production of petroleum from
the Kapal, Banang and Meranti.
5) MISC
Company has completed the 50% share disposal in
Gumusut-Kakap semi-floating production system (L) Limited (GKL) to E&P
Venture Solutions Co Sdn Bhd a wholly owned subsidiary of Petronas Carigali Sdn
Bhd for cash consideration of USD305.7mil. This disposal will reduce the concentration of its
investment in GKL and free-up MISC's cashflow with gearing falling to a
respectable 0.3x.
6) Market - Choppy recovery to continue ahead of expected
year end closing.