FBMKLCI
1626.89 -3.86 pts (-0.24%) Volume 1.03b Value RM1.74b
1) Trading remained cautious, with little lead from the
US & Asean markets, as concerns about Europe's debt crisis continue to
weigh on sentiments. Domestically, GE concerns remain. The KLCI opened at it's
low before recovering to trade part of the day in the black, but tracked lower
in the afternoon session to close 3.8 points lower. Properties -1.7% main
underperformer, MAHSING-4.3%, SPSETIA-1.8%, UEMLAND-4.7%, GLOMAC-4%. Market
breath largely negative, with losers outnumbering gainers 413:259. Futures
closed 1624.5 pts ( 2.39 pts disc).
2) Heavyweights : ASTRO+1.4% RM2.90, POS+1% RM4.20,
BURSA+0.9% RM6.91, MRCB-4% RM1.43, UMW-3% RM12.82, PPB-2.1% RM12.20,
PARKSON-2.6% RM4.52, DRB-1.9% RM2.54, FGV-1.3% RM4.43
3) DBT : COMPUGT 18m @ RM0.087, SUNREIT 3m @ RM1.52.
4) Situational:
MUHIBBAH -4.3% RM1.12: after Co announced that it had
received a ship building contract award worth RM216m from Jasa Merin ( M) SB, a
70% owned subsidiary of Silk Holdings Berhad. The contract involves the
construction of 3 units of AHT supply vessel. At the same time, it's 62% owned
subsidiary Flavelle Favco also announced 4 crane orders totalling RM78.8m,
bringing total for the day to RM294.8m. Favco has secured the orders between February
& March this year. Note that share price of Muhibbah has added 32% over the
past 4 days.
5) HIBISCUS
Its wholly-owned subsidiary, Lime Petroleum Plc which is a jointly controlled entity of
Hibiscus Petroleum, has executed an IP Licence Agreement with Rex Management
where by Lime Norway is granted the use of Rex Technology in the Norwegian
Continental Shelf for a period of 3 years from the date of the agreement, with
renewal on an annual basis thereafter. Rex Technology uses virtual drilling
technology to accurately predict the presence or absence of oil without
physically drilling hence a substantial cost saver. The software based tool
relies on seismic data to detect the presence of hydrocarbon deposits.
6) Market -
Expectations that the PM is on his last leg of campaigning before announcing
elections dates next week. Funds are staying sidelined until a time line is set
for this event as well as keeping an eye on events in Europe despite the
apparent resiliency at the moment.