FBM 1648.58
-3.40pts (-0.21%)
Volume 726.75mil Value RM1,122mil
1) KLCI opened the week on a weaker note as regional
markets were lower following a weaker DOW while China's new leaders signaled
that they may accept slower economic growth in favor of a more sustainable
model. Nikkei+1% outperformed the region following election victory by the
Liberal Democratic Party that backs more economic stimulus returned to power.
Market breadth was negative with decliners outlasting advancers 399:259. Future
closed 1646.5 (2points discount).
2) Heavyweights: GENTING-1.08% RM9.19, UMW-2.16% RM11.78,
BAT-2.59% RM59.42, PCHEM-0.81% RM6.09, AXIATA+0.46% RM6.54, DIGI+0.60% RM5.07,
GENM+1.44% RM3.53
3) DBT: SHL 4.5mil @ RM1.40 (1.86% PUC, 7.7% premium),
TRIPLC 2.97mil @ RM0.44 (4.6% PUC, 12% discount), PLS 2.92mil @ RM1.20
4) Situational:
TEBRAU+2.2% RM0.695: received and accepted a LOA from
Unit Perancang Ekonomi Negeri Johor appointing Tebrau as the main contractor
for building and infrastructure works for "Cadangan Pembangunan Penempatan
Semula Penduduk Pengerang" for a contract sum of RM335.4mil. Contract is
expected to be completed by Oct 2013.
5) TIME Engineering
Its major shareholder, Khazanah has proposed to divest
its entire equity stake of 45% in Time Eng via a tender process to a qualified
Bumiputera entrepreneur. The new shareholder will be selected on both financial
and strategic considerations. Time Eng
is deemed to be a non core asset. The company is currently involved in work
related to supply, delivery, installation, testing, commissioning, maintenance
and support of ICT equipment to local polytechnics and community colleges. This move is not unexpected and follows shortly after
Time Eng's CEO resigned from his position only last month.
6) Market - Quieter trading volume to prevail until the
last week of Dec when some year end window dressing is expected. Remain range
bound between 1620-1650pts.