FBM 1674.72
-14.23pts (-0.84%)
Volume 874.5mil Value RM1,193mil
1) KLCI open the new year on a weaker note as profit
taking ensued after index closed sharply higher on Monday. Regionals rallied
led by HSI+2.9%, SHCOMP+1.6% as US averted a fiscal cliff after US Congress
approved a tax budget which will see higher taxes for the wealthiest. China's
manufacturing also extended for a third month. Market breadth was marginally
positive with gainers edging decliners 373:335. Future closed 1684 (9.3points
premium).
2) Heavyweights: MAYBANK-1.85% RM9.03, KLK-5.5% RM22.68,
DIGI-1.7% RM5.20, PBBANK-0.74% RM16.16, PCHEM-2.03% RM6.27, PETGAS-2.25%
RM19.08, YTL-3.16% RM1.84, AMBANK-1.9% RM6.67
3) DBT: PA 97.5mil @ RM0.11 (11.33% PUC, 12% discount),
BJCORP 20mil @ RM0.59, YINSON 2.5mil @ RM2.05
4) Situational:
ALAM+6.6% RM0.725: Share price surged after news reported
ALAM is
ALAM+bidding RM2bil worth of jobs. This will add to
Alam's current order
ALAM+book of about RM800mil, of which 80% consists of
long-term charter
ALAM+contracts. The management foresee opportunities in
the area of
ALAM+pipeline replacement and repair in the coming
years. ALAM plan to
ALAM+build up capacities to be ready for the marginal oil
field sector
5) Maybank
Maybank Investment Bank Berhad wishes to announce that
Maybank had, on 2 January 2013 received a letter dated 27 December 2012 from
Badan Pengawas Pasar Modal dan Lembaga Keuangan ("Bapepam") , wherein
Bapepam has granted a further extension of time of six months starting from the
date of the Approval Letter for Maybank to fulfill the Sell-Down Requirement.
This would mean an extension to 1 June 2013.
6) Market - Year end/ Jan effect rally to be extended on
the back of US lawmakers passing a bill which excluded additional spending cuts
which relieves short term economic growth concerns. The strong global equity
recovery however could see the KLCI underperform relatively due to its
defensive nature and higher valuations. Stock picking thus becomes more
critical with our current favourites incl Benelac, Star, GentMsia, MPHB.