FBM 1692.58 -0.07pts (-0.00%) Volume 1,242mil Value RM1,660mil
1) Index ended flat, paring from its new high of 1699.68
(+7.03pts) in the morning on profit taking as investors took a breather after
Federal Reserve policy makers said they may end their $85 billion monthly
bond-purchase program this year. Rotational play saw Tech+3.8% led by
UNISEM+14.4%, MPI+5.6% and JCY+3.8%. Market breadth was positive with gainers
outpacing decliners 381:314. Future closed 1699.5 (7points premium).
2) Heavyweights: DIGI-1.5% RM5.23, AXIATA-1.02% RM6.74,
UMW-2.24% RM12.22, PBBANK-0.37% RM16.14, AMBANK-0.9% RM6.64, SIME+1.25% RM9.71,
IOICORP+1.37% RM5.17, PPB+4.2% RM13.00
3) DBT: IRCB 65mil @ RM0.15 (10.98% PUC, 11% premium),
DESTINI 39mil @ RM0.25 (11.82% PUC, 27.5% discount), BJCORP 10.64mil @ RM0.585,
TDEX 10mil @ RM0.10
4) Situational:
GWPLAST+3.45% RM1.20: Shareholders of GWPLAST has
approved the sale in Great Wall Plastic Industries Bhd and GW Packaging Sdn Bhd
for RM1.19 per share. GW Plastics will be a shell company following the sale,
and will have 12 months from the date the stock is suspended before being
delisted. During this period, the group wishes to retain its status whilst
looking into possible partnering other operating companies to form a new core
business.
5) A-Rank
The company entered into a Share Subscription Agreement
together with Apresi Sdn Bhd and Mr Tan Tiam Chai for the proposed subscription
by A-RANK of 4,950,000 ordinary shares of RM1.00 each at par representing 55%
equity interest in HONGLEE for a total cash consideration of RM4.95m. Concurrent with the signing of the
Subscription Agreement, HONGLEE has entered into a Sale and Purchase
Agreement with Hong Lee Aluminium Sdn
Bhd
for the acquisition from the Vendor of the existing assets
and liabilities representing the business of the Vendor including goodwill and
trademarks for a total cash consideration of RM4,941,328.42. The Vendor is
principally engaged in the manufacturing of all types of aluminium and glass
fittings and other related activities. HONGLEE has also concurrently entered
into a separate Sale and Purchase Agreement with the Vendor for the acquisition
from the Vendor of all the two pieces of freehold land together with a single
storey semi-detached workshop with mezzanine floor in
Johor Bahru with total area of
2,766 square metres for a total cash consideration of RM4,000,000.
6) Market - Consolidation with a rotation into laggards
before an attempt to breach the psychological high of 1700pts. Laggard plays
include, Pharma, LionCorp, SPSetia, WCT.