FBMKLCI
1772.88 -1.17pts (+0.07%)
Volume 1.434b Value RM1.821b
1)The FMBKLCI rose to a high of 1782.41 (+8.36pts)
following a positive DOW overnight. However gains were short lived with index
turning negative by midday as investors remained cautious pending FOMC outcome
tonight. In the regional market, SHCOMP -0.73% fell to a 6 months low on
concerns China government may expand property taxes to more cities. Midcap
stocks were firmer led by MUHIBBAH +12.68%, FAVCO +6.98%, MAYBULK +4.79%, and
PRESBHD+5% on reports EPF intends to increase weighting in midcaps. Market breadth
was slightly negative with losers leading gainers by 417:352. Futures closed
1771 (1.8pts discount)
2) Heavyweights : UMW -1.23% RM14.40, GENM -1.02% RM3.88,
YTL -1.19% RM1.66, MAYBANK-0.192% RM10.42, ASTRO -1.62% RM3.03, PBBANK -0.12%
RM17.00, CIMB +0.24% RM8.29, PPB +0.88 RM13.72
3) DBT : LIENHOE 12mil @ RM0.35 (3.31% PUC), MAYBANK 7mil
@ RM10.40, ETITECH 3.1mil @ RM0.1290 (61.25% premium)
4) Situational:-
BPURI -2.05% RM0.715, UEMS parity RM3.26 : Shares in Bina Puri dropped as much as 2% in
early trade after its joint venture (JV) UEM Sunrise was ordered to pay a fine
for the delay to complete an airport construction job. The fine sees that the
JV partners pay Malaysia Airports Holding nearly RM200,000 for every day it is
delayed
HIBISCUS -0.67% RM1.48 : Hibiscus Petroleum JV had
received a US$10 million (RM31.5 million) capital investment from Panama-based
Triax Ventures Corp for a 15 per cent stake in its joint venture company Hirex
Petroleum Sdn Bhd. It told Bursa
Malaysia in a statement yesterday Triax will subscribe for 14,635 Hirex shares
at US$683 per share.
5) IGB : Co announced that wholly owned subsidiary Megan
Prestasi Sdn Bhd (MPSB), had on 19 June
2013 entered into 2 conditional agreements:
(a) a Share SPA with Dato' Dr. Kho Eng Hue in relation to
the proposed acquisition by MPSB of 50% + 1 share in Distinctive ACE Sdn Bhd
("DASB") for a purchase consideration of RM33,000,000.00 and (b) a Shareholders Agreement between MPSB & 5 parties ( holding 50% -
1 share) in relation to the joint-venture entity, DASB, to regulate their
rights as Shareholders in DASB. On 8 November 2012, DASB entered into 4 Lease
Purchase Agreements with Medini Land Sdn Bhd ("MLSB") to acquire from MLSB the leases totaling
72,940 square metres, all situated at Mukim Pulai, Johor Bahru, Johor together
with all rights or access to and from the Lands and the right to use, develop
and enjoyment of the Lands for a total purchase consideration of
RM99,922,284.00, of which RM3,239,012.00 had been paid as deposit, with the
balance of RM96,683,272.00 payable over a period of 54 months. IGB will finance
MPSB's acquisition of the Sale Shares of RM33,000,000.00 in cash & intends to finance the balance purchase
consideration of RM96,683,272.00 from internal funds and/or bank borrowings;
Neutral - Lands are located in prime location within
Medini, Iskandar Malaysia, and are expected to contribute positively to the
earnings of IGB in future. DASB is also entitled for tax incentives under the
Iskandar Regional Development Authority's Incentive and Support Packages.
6) Market : Bursa's direction tomorrow will depend
greatly on FOMC's decision & statement tonight. A continuation of the
existing stimulative QE program of $85b/month with emphasis that there will be
no tapering of the program unless economic data is substantially stronger on a
sustained basis than now would be the best antidote for emerging markets to
escape from its current rut.