FBM 1616.23
+2.44pts (+0.15%)
Volume 881.1mil Value RM1,247mil
1) KLCI gained for the 3rd day running led by key
heavyweights Genting and Tenaga while regional markets ended mixed as investors
awaits on the sidelines hoping a deal could be strike by US President Barack
Obama to prevent a fiscal crisis by year end. Plantation-0.6% led by Kulim-3%,
TWSPLNT-3.5% underperformed the market as CPO prices continued to hover near
its year low. Market breadth turned negative after decliners led advancers
365:282. Future closed 1615.5 (1 point discount).
2) Heavyweights: GENTING+1.67% RM9.12, TENAGA+1.3%
RM7.03, PBBANK+0.26% RM15.60, MAYBANK+0.22% RM9.09, BAT+1.21% RM58.40,
PETDAG+1.38% RM23.46, UMW-1.9% RM11.10, PCHEM-0.70% RM5.70
3) DBT: EIG 29mil @ RM0.50 (15.7% PUC), BJCORP 20mil @
RM0.55, PRTASCO 10mil @ 0.99 (3.33% PUC, 8.3% discount)
4) Situational:
BINTAI+4.68% RM0.335: Bintai Kinden Corp unit has been
awarded a RM133mil job for a proposed mixed development project in
Kota Kinabalu to perform mechanical and electrical works for Pacific Parade. Consecutively, group Bintai Kinden Corp Bhd through
Bintai Kindenko Pte Ltd executed the letter of acceptance from Samsung C&T
Corp to perform sub-contract works on Suntec City Convention Centre and Retail
Podium in Singapore for S$85.85mil (RM214.2mil) which involves installation of
mechanical, Electrical & plumbing works on 2 basement floors and 9 storeys
on Lot 510W TS 11 at Temasek Boulevard
5) YINSON
Announced that its wholly-owned subsidiary Yinson Vietnam
Company Limited had entered into a joint venture with Yen Son Transport Company
Limited via a shareholders' agreement to invest in warehousing facilities. The
joint venture company, Yen Son Diversified Company Limited has been granted an
exclusive right to construct two (2) warehouses
on the designated area at PTSC Phu My Port in Vung Tau, Vietnam by PTSC Branch - Phu My Port Joint Stock
Company . Yinson has 40% equity interest in PTSC Phu My Port. Yen Son
Diversified will provide funding for the construction of the Warehouses and
shall have the right to collect the agreed storage fees pursuant to the
warehousing agreement to be entered between Yen Son Diversified and its
customers.
In addition, Yen Son Diversified is not obliged to make
lease payment to PTSC Phu My Port for the usage of the Land. PTSC Phu My Port
shall collect the agreed service fees with Yen Son Diversified for the
warehousing services to be provided and performed by PTSC My Port for Yen Son
Diversified's customers.The duration for the abovementioned business
co-operation will be up to the maturity of the master lease agreement (ie. 18
December 2028) with a ten year extension. After the Initial Period and
Extension Period, the Warehouses shall be completely transferred to PTSC Phu My
Port without any compensation to Yen Son Diversified. The estimated
construction cost of the Warehouses is approximately RM26.09 million. The
warehouses will have a built up area of 5,400sq m each to store agriculture
products and any derived products belong to the customers with completion date before June
2014. +ve as PTSC Phu My Port is one of the three ports in the
south of Vietnam, which are deep water conventional cargo ports.
This will help Yinson further diversify away from its traditional cyclical
trading based earning especially with its FSO contribution from next FYE. Accumulate.
6) Market - Choppy recovery to continue with China the
positive spark that could lead to the expected year end rally.
Please note that effective December 15th 2012, all
correspondence email address will be change from ecmlibra.com to
kenanga.com.my. There will be no changes to your email id. This is due to the
merger between Kenanga Investment Bank Berhad and ECM Libra Investment Bank
Berhad.
