FBMKLCI
1772.40 +3.92pts (+0.22%)
Volume 1.458b Value 1.753b
1) The KLCI rose in early trading following a stronger
DOW before easing thru out the session on more suspected profit taking. In the
regional market, SHCOMP +0.64% and HSI +0.07% gained after banks raised
projections for China's growth but closed just flattish amid persistent selling
pressure through the day. In the local market, most of the stock were mixed but
Telco stocks outperformed in the market with MAXIS +1.00%, AXIATA +0.58%, DIGI
+2.12% bucking the trend. Market breadth was positive with gainers beating
losers by 417 : 292. Futures closed 1765 (7 pts discount).
2) Heavyweights : CIMB +1.03% RM7.58, DIGI +2.12% RM4.81,
MAYBANK +0.59% RM10.12, AXIATA +0.58% RM6.88, MAXIS +1.00% RM7.05, GENM +1.14%
RM4.40, SKPETRO -1.07% RM3.67, GENTING -0.50% RM9.95
3) DBT : PDZ 63.710mil @ RM0.075 (7.329% PUC @ 12%
discount), MARCO 38.123mil @ RM0.145 (4.54% PUC), KELADI 20.828mil @ RM0.255
(4.725% PUC), IBRACO 19.28mil @ RM2.87 (15.28% PUC @ 19.5% premium)
4) Situational:-
SOLID +14.28% RM0.64 - Solid Automotive Bhd, which made
its debut on the Main Market today, rose 14% or 8 sen above its IPO of RM0.56
with 110mil shares traded in the market. Solid Automotive is involved in the
trading and distribution of automotive parts and components as well as
remanufacturing of automotive alternators and starters for the passenger and
commercial vehicle segments in the automotive aftermarket in Malaysia and
overseas.
HLI +4.81% RM5.66 - HLI plans to distribute to its
shareholders 345mil shares in sister company Narra Industries. The capital-
repayment will be done on the basis of 1,080 Narra Shares for every1,000 HLI
shares. Narra will be buying 2 firms, a concrete and cement manufacturer
respectively from HLI. The share deal is worth RM448mil.
5) TIME/ CENSOF
Khazanah Nasional Bhd today announced that it had exited
Time Engineering Bhd by selling its entire 45.03% equity stake for 69.8 million
ringgit to Censof Holdings Bhd.
This is part of Khazanah's broader push to dispose of
noncore assets and boost participation of businesses controlled by ethnic
Malays and other indigenous tribes.
Censof was selected out of the 10 interested parties
based on the merit of its overall bid and a defined strategy in line with our
divestment objectives for Time Engineering, following a transparent and
stringent tender process presided by an independent evaluation panel according
to Khazanah.
Censof will now need to make a mandatory bid for the rest
of the Time shares it does not own but this will unlikely have much impact as
the price transacted works out to be 20sen/share which is a 30% to Time's last
done price of 28sen. The prized asset in Time is Dagang Net which holds a 25yr
concession with Customs expiring Sept 2014. This however does not deter Censof
as they have now access to the large client based signed up with Dagang Net
which will be a major advantage for implementation of the GST. +ve
6) Market - Trading expected to be more subdued on Friday
after the recent strong run up during the past few sessions and ahead of a
holiday on Monday for Malaysia day. Immediate support seen at the 1730-1750pts
levels.