FBMKLCI
1803.65 -5.48pts (-0.30%) Volume 2.123b Value RM3.137b
1) The KLCI slid into the red following the mixed U.S
market overnight after weak oil prices weighed on stocks. Regional bourses were
mostly higher led by SHCOMP +0.98% which continue to rally for the 8th day on
fresh stimulus bets, NIKKEI +0.43% and STI +0.85% both gained while HSI -0.38%
closed lower on profit taking. INDUSTRIAL products lost the most grounds today
dragged by PCHEM -1.53%, LAFMSIA -3.52%, KSENG -3.91%. Other highlights
includes, YTLPOWR -3.26%, PARKSON -2.92%, PAVREIT -6.04%, IHH +1.22% SIME
-0.43% which saw some dressing at auction. Market breadth was negative with
losers beating gainers by 471 : 325. Futures closed at 1812.5 (9pts premium).
2) Heavyweights : MAYBANK -0.86% RM9.15, GENTING -1.26%
RM8.57, PCHEM -1.53% RM5.12, YTL -1.81% RM1.62, PBBANK -0.21% RM18.60, RHBCAP
-2.61% RM7.82, IHH +1.22% RM5.77, BAT +1.44% RM68.60.
3) DBT: MEGB
86.5mil @ RM0.60 (21.10% PUC, stake sale by Siva Kumar to SMRT), RCECAP 55.151mil
@ RM0.32 (4.13% PUC), NICE 32.4mil @ RM0.105 (13.898% PUC).
4) Situational:-
MHB -3.47% RM1.11 / SIME -0.43% RM9.26 - Malaysia Marine
and Heavy Engineering Sdn Bhd's (MMHE) dispute with Sime Darby Bhd unit Sime
Darby Engineering Sdn Bhd (SDE) over two fabrication yards have been referred
to arbitrators. Sime Darby said on Thursday SDE had received a notice of
arbitration from MMHE over the May 27, 2011 sale and purchase agreement (SPA)
and supplemental SPA dated March 30, 2012 where SDE would dispose of its oil
and gas business to MMHE. Disputes and differences relating to the SPA and SSPA
have since arisen between MMHE and SDE. MMHE invoked the reference to
arbitration in accordance with the rules for arbitration of the Kuala Lumpur
Regional Centre for arbitration before a panel of three arbitrators.
5) Talam/ TA Global
Talam enterd a SPA with TA Global for the disposal of 2
parcels of freehold land in Section 20, Bandar Serendah, Selangor measuring
277,969 sq m and 490, 238 sq m for a
total consideration of RM106.86m. The expected net gain from the
disposal is RM48.48m and will be utilized to repay group debts improving
gearing ratio from 0.51 to 0.30. +ve
6) Market: The market expected to continue to be dogged
by the weak currency and possible downgrades in credit rating agencies making
more expensive to do biz in Msia. Range bound trading to continue.