Friday, April 12, 2013

Market Roundup | 11 April 2013

KLCI pushed pass 1700 psychological level in early trading before moving to a high of 1710.35 (+14.15pts) as index gained for the 3rd consecutive days led by plantation heavyweights IOICORP and SIME. Regional were also firmer upderpinned by upbeat Chinese lending data for March which exceeded forecast. Market breadth turned positive with advancers outpacing decliners 415:317. Futures closed 1711pts (4pts premium). 
 
 
2) Heavyweights: IOICORP+4.18% RM4.98, SIME+1.5% RM9.39, AXIATA+1.35% RM6.75, TENAGA+1.04% RM7.78, DIGI+0.86% RM4.68, TM+0.92% RM5.48, GENTING+0.79% RM10.20, MAXIS+1.19% RM6.82 
 
3) DBT: CLIQ 3.385mil @ RM0.5823 (2.8% discount), MPHB 1.042mil @ RM3.62
   
4) Situationals:
 
UMW-0.15% RM13.36: UMW has entered into a contract with Petronas Carigali Sdn Bhd for the provision of UMW's jack-up drilling rig NAGA 4. The contract is for Petronas Carigali's domestic operations within the Malaysian waters, valued at US$157.68 million for performance of the scope of works. The contract is for a duration of three years, commencing from the date of the contract when NAGA 4 arrives at the mobilisation site, with an additional two year option for renewal.
 
 
5) MAS
 
Announced today the ex date on the 5th May 2013 for its 4 rights @ RM0.23 for every share held. Trading of the rights will commence on 8 May and cease on 14 May. Based on today's closing price of RM0.82, the theoretical ex price will be RM0.35.
 
Funds raised will largely be used to pay off their fleet renewal program. With one of the youngest fleet of aircraft now, the airline will benefit from lower operating cost.
  
6) Market - Rotational play to continue, trading Buy PENERGY, CrestBuilder.