FBMKLCI
1755.85pts -6.49pts (-0.37%)
Volume 2.052b Value RM3.788b
1)The KLCI gapped down reaching a low of 1737.66
(-24.68pts) after the US markets fell 2.3% overnight. Index managed to pare its
losses inline with the regionals after China central bank injected funds to
alleviate the credit crunch seen in the banking system. FTSE rebalancing saw
IHH -1.99%, MAXIS +0.29%, RHBCAP -1.04%, SIME -0.95%, AIRASIA -3.47%, SPSETIA
-0.59% actively traded today. During auction period some programme trading saw
COASTAL-30%, TDM -30%, HSPLANT -30%, BKAWAN -30%, CBIP -30%, JCY+36%, STAR
+30%. Market breadth was negative with
losers stomping gainers by 512 : 306. Futures closed 1761.5 (6 pts premium)
2) Heavyweights : MAYBANK -0.96% RM10.26, SIME -0.95%
RM9.40 , PBBANK -0.59% RM16.86, BAT -2.61% RM59.50, GENTING -0.98% RM 10.06,
AXIATA -0.60% RM6.61, FGV +3.77% RM4.68, PCHEM +0.91% RM6.66.
3) DBT : PICORP 10mil @ RM0.15 (1.52% PUC), SUNWAY 7.7mil
@ RM3.70, ASUPREM 2mil @ RM0.175
4) Situational:-
SALCON +18.42% RM0.675 : Salcon Bhd tie up with Eco-World
Development Sdn Bhd, a company linked to S P Setia Bhd's Liew Kee Sin, will
pave the way for the water and waste water engineering company to go big into
the Johor property sector. In the immediate term, group will develop a 1.2 bln
rgt ($375.17 mln) mixed commercial project in Johor together with Eco-World
Development.
5) NADAYU
Announced today that Pembangunan Bandar Mutiara Sdn Bhd
("PBMSB" ), a wholly-owned subsidiary of the Company had, entered
into a SPA with Tambun Indah Land Berhad ("TILB") to dispose of its
30% equity interest held in Tambun Indah Development Sdn Bhd
("TIDSB")and 40% equity interest held in Palmington Sdn Bhd
("PSB") to TILB, for a total consideration of RM112,234,216 to be
satisfied via a combination of cash of RM40,734,216 and 55,000,000 new ordinary
shares of RM0.50 each in TILB at an issue price of RM1.30 per TILB Share.
TILB will also fully repay the shareholders' advance
amounting to RM17,765,784 owing by PSB to PBMSB as at 31 December 2012
("Advances"), in cash upon completion of the Proposed Disposals.
The Disposal Consideration represents a discount of
approximately RM1,936,824 or 1.7% over the adjusted net assets of the
Identified Companies.
The Group is expected to record a gross gain on disposal
of approximately RM99.5 million arising from the Proposed Disposals.+ve HOLD
6) Market - The KLCI continues to defy recent weakness
across global markets. Any technical rebound is also likely to be lack lustre
here hence we expect the current range to be maintained with medium term
weakness arising the unwinding of carry trades.