FBMKLCI
1718.20pts +1.38pts
(+0.08%) Volume 2.565b Value RM 2.056b
1) The KLCI ended on a muted tone closing just 1pt above
overnight following the mixed US market before the weekend. Region was mixed as
the NIKKEI slipped -0.88% while the rest of the region remained flat despite
the weaker China GDP data released today, HSI +0.04%, SHCOMP +0.14%, ASX
+0.03%, STI -0.20%. Broad market was mixed as rotational names continue to be
actively traded, as AIRASIA +3.97%, FGV +4.59%, KNM -2.65%, YONGTAI +4.20% led
the most active list, while TECH+0.40% names gained the most grounds UNISEM
+1.40%, GTRONIC +0.96% as the Ringgit weakens. Market breadth was neutral as
gainers and losers were even at 428 : 417. Market futures closed at 1715 (3pts
discount).
2) Heavyweights : CIMB +0.99% RM5.06, GENM +1.85% RM4.39,
PETGAS +0.97% RM22.80, DIGI +0.70% RM5.72, SIME -0.91% RM8.70, GENTING -1.08%
RM7.27, UMW -3.07% RM8.21, PCHEM -0.77% RM6.44.
3) DBT : PASUKB 56mil @ RM0.20 (18.98% PUC), SYCAL
18.178mil @ RM0.28 (5.67% PUC), BIOHLDG 12mil @ RM0.29(2.58% PUC)
4) Situational:-
GUOCO +7.43% RM1.30 - Guocoland Bhd's associate Vintage
Heights Sdn Bhd is disposing of a 679.2ha land in Sepang, Selangor, to
Putrajaya Properties Sdn Bhd for RM474.99 million cash. Upon completion of the
proposed disposal, Vintage Heights is expected to realise a net gain on
disposal of approximately RM290 million. About RM116 million is expected to be
attributable to Guocoland. Guocoland said the proposed disposal would enable
Vintage Heights to realise its investment in the property. The latter plans to
use the proceeds for working capital purposes, repayment of borrowings and/or
distribution to its shareholders. Guocoland said the proposed disposal was
expected to be completed in the second half of 2016.
5) Telcos
The Deputy Finance Minister Datuk Johari Abdul Ghani has
instructed Telecommunications firms to revert to the pre-Goods and Services Tax
(GST) rates for their prepaid reloads by Oct 31. He added that the telcos need
to adjust their own system, if they want to impose the GST, they should find an
appropriate method, the charge should be based on usage and not during the sale
of the reloads as this is not convenient for the consumer.
The Royal Malaysian Customs Department will announce the
reversion to the pre-GST rates on Nov 1.
6) Market - Current range bound trading maintained ahead
of Budget 2016 to be tabled this Friday.
