FBMKLCI
1688.65 +0.19pts
(+0.19%) Volume 974.35mil Value RM1,973mil
1) KLCI eased up in the morning touching a low of 1680.17
(-8.29pts) before renewed buying interest in banks led by MAYBANK+2.6%,
CIMB+0.8% ensured market close in positive territory for the 4th day running.
Regional market were weaker as concerns from tension in Korea and bird flu in
China saw investors sentiment turning cautious. Market breadth turned positive
with gainers outpacing decliners
480:252. Futures closed 1687pts (1.5pts discount).
2) Heavyweights: MAYBANK+2.65% RM9.70, PBBANK+0.61%
RM16.38, GENTING+1.19% RM10.18, AXIATA+0.45% RM6.65, BAT-3.6% RM62.94,
IOICORP-1.24% RM4.80, TENAGA-0.66% RM7.52, YTL-1.21% RM1.63
3) DBT: HUBLINE 27mil @ RM0.06, JOHAN 26.5mil @ RM0.135
(4.25% PUC), IVORY 8.91mil @ RM0.52 (2% PUC, 8.8% discount)
4) Situationals:
AIRASIA unch: Airasia has received a formal approval from
the Indian Foreign Investment Promotion Board for AirAsia Investment to invest up to 49% in an Indian Joint
Venture company, Tata Sons Lts and Telestra Tradeplace Pvt Ltd. Upon agreement
, Airasia and its partners incorporated a JV vehicle, Airasia India Lts with an
initial pau up capital of 5 Lakh(approximately RM27mil in anticipation of the
parties formalising a share subscription & shareholders agreement within
April 2013
5) MISC
MISC has today received the attached Notice of the
Revised Offer from PETRONAS informing that the Offer Price of RM5.30 has been
revised to RM5.50 per Offer Share . The
Revised Offer shall remain open for acceptances up to 5.00 pm on 19 April 2013.
Save for the Revised Offer Price, all other details, terms and conditions of
the Offer remain unchanged.
Recall that the offer is conditional upon Petronas
receiving valid acceptances of 90% in MISC. Petronas holds 65.69%.
With this new offer , we feel Petronas is confident of
securing the 90% and will see another RM24bn goliath disappear from the KLSE.
6) Market - Two tier market with rotational play in 2nd
liners to continue as evident from today's flattish index but market breath favouring
gainers by 2:1. Iskandar related counters in the property sector will continue
to be the rage.