FBMKLCI
1798.61 -6.88pts (-0.38%) Volume 1.626b Value RM1.700b
1) The KLCI fell below the 1800 support level following
the thinly traded US mkt overnight as investors shifted to the sideline
following concerns on Greece's cash crunch. In the regional market, bourses
were mixed as the HSI -1.12% trailed to its mainland counter-part as SHCOMP
gained 1.56%, ASX gained +0.88% while NIKKEI closed flat +0.02%. In the local
scene, INDUSTRIAL -0.72% index lost the most grounds amongst the sectors
weighed by PETGAS -1.77%, MISC -1.30%, SIME -0.77%, BAT -0.87%. Market breadth
was negative as losers outpaced gainers by 576 : 240. Futures closed at 1789.5
(9pts discount).
2) Heavyweights : PETGAS -1.77% RM22.20, SIME -0.77%
RM8.95, PETDAG -3.05% RM20.98, SKPETRO -1.79% RM2.73, MAYBANK -0.42% RM9.28,
KLK -1.47% RM21.40, MISC -1.30% RM8.30, CIMB -0.50% RM5.90.
3) DBT: DIGI 18.829mil
@ RM6.00, YNHPROP 6.375mil @ RM1.8671, EDUSPEC 6mil @ RM0.37
4) Situational:-
GENM -0.69% RM4.27 - Genting Malaysia Bhd, via indirect
unit Resorts World Ltd, has proposed to sell its entire 17.8% stake in Genting
Hong Kong Ltd for at least RM1.7b cash or USD0.33 (RM1.18) per share. Genting
Malaysia said that the shares were considered non-core investments and were
treated as available-for-sale financial assets in the group's financial
statements. Further, the Genting Malaysia group does not have any board seat on
Genting Hong Kong in respect of its equity interest in Genting Hong Kong, the
tourism resort operator said.
5) CI HLD
Announce that
Continental Resources Sdn Bhd , a wholly-owned subsidiary of CIH has entered
into an agreement with Palmtop Vegeoil Products Sdn Bhd for the subscription of
8,250,000 new ordinary shares of RM1.00 each representing 60% of the enlarged
issued and paid up share capital of PALMTOP for a total purchase consideration
of RM8.25 m.
PALMTOP's principal activities are buying and selling,
manufacturing and packing of Refined Bleached Deodorized (RBD) Palm Olein and
all types of edible oils.
After taking into account the market value of the assets
of PALMTOP, the adjusted NTA of PALMTOP is approximately RM 7.14 million. The
Proposed Acquisition provides value added benefits for CRSB to expand its
current export markets in manufacturing and packaging of resource based
products including RBD palm olein and any other blended soft oils which are
exported to various parts of the world.
6) Market - Turmoil in the Euro zone as govt bonds
decline and investors watch developments in Greece bailout talks will continue
to encourage investors to remain sidelined and take profits wherever possible.
Stronger support should be seen at the 1780pts levels on the KLCI.