10 January 2011

The FBM KLCI index lost 8.69 points or 0.55% on Monday. The Finance Index fell 0.53% to 14340.3 points, the Properties Index up 1.30% to 1113.73 points and the Plantation Index fell 0.27% to 8226.5 points. The market traded within a range of 14.82 points between an intra-day high of 1576.37 and a low of 1561.55 during the session. Actively traded stocks include SAAG, COMPUGT, HUBLINE, KBUNAI, IRIS, GPERAK, SINOTOP, MULPHA, JOTECH and PCHEM. Trading volume decreased to 2226.45 mil shares worth RM2800.26 mil as compared to Friday’s 2536.32 mil shares worth RM3454.36 mil. Lagging Movers were CIMB (-10 sen to RM8.83), PBBANK (-12 sen to RM13.42), SIME (-7 sen to RM9.30), AXIATA (-4 sen to RM4.87) and TM (-9 sen to RM3.64). Leading Movers were PLUS (+8 sen to RM4.69), PETGAS (+4 sen to RM11.32), HLBANK (+5 sen to RM9.35), YTLPOWR (+1 sen to RM2.43) and BAT (+12 sen to RM46.62). Market breadth was negative with 427 gainers as compared to 478 losers.

Source: JF Apex Securities Bhd

The FBM KLCI index gained 3.55 points or 0.23% on Wednesday. The Finance Index fell 0.04% to 14303.19 points, the Properties Index up 1.65% to 1136.27 points and the Plantation Index down 0.07% to 8207.92 points. The market traded within a range of 6.35 points between an intra-day high of 1569.08 and a low of 1562.73 during the session. Actively traded stocks include MTRONIC, SAAG, TALAM, RAMUNIA, BORNOIL, OLYMPIA, SCOMI, RAMUNIA-WA, PMCAP and DAYA. Trading volume decreased to 2473.38 mil shares worth RM2702.71 mil as compared to Tuesday’s 2706.28 mil shares worth RM2636.58 mil. Leading Movers were GENTING (+42 sen to RM11.84), GENM (+4 sen to RM3.59), PETCHEM (+4 sen to RM6.02), TM (+3 sen to RM3.66) and CIMB (+1 sen to RM8.78). Lagging Movers were MAYBANK (-6 sen to RM8.88), PPB (-24 sen to RM17.10), AMMB (-3 sen to RM6.94), AXIATA (-1 sen to RM4.87) and KLK (-10 sen to RM22.26). Market breadth was positive with 460 gainers as compared to 406 losers.

KUALA LUMPUR, Thursday 13 January 2011 (Bernama) -- The projects to be unveiled under the Economic Transformation Programme (ETP) are expected to have multi-pronged spin-off effects on the country's economy.

Executive chairman of Rahim & Co Group of Companies, Datuk Abdul Rahim Rahman, said these projects, one of them being the mass rapid transit, were picked after a proper study.

"The government has undertaken proper feasibility study before coming up with the projects," he said after a media briefing on the 'Prospects of the Malaysian property market in 2011' here today.

On the multi-billion commercial projects in the pipeline, he said the ETP would increase economic activities and there would be an increase in demand for office space.

14 January 2011

The FBM KLCI index lost 1.67 points or 0.11% on Friday. The Finance Index fell 0.15% to 14319.67 points, the Properties Index dropped 0.81% to 1146.02 points and the Plantation Index down 0.05% to 8239.67 points. The market traded within a range of 6.92 points between an intra-day high of 1572.95 and a low of 1566.03 during the session. Actively traded stocks include SAAG, MUIIND, TEBRAU, NAMFATT, IRCB, HWGB, IRCB-WA, TIME, JAKS and RAMUNIA. Trading volume decreased to 2143.78 mil shares worth RM2536.69 mil as compared to Thursday’s 2704.45 mil shares worth RM3001.37 mil. Lagging Movers were GENTING (-10 sen to RM11.88), GAM (-13 sen to RM4.00), CIMB (-4 sen to RM8.73), MMCCORP (-13 sen to RM2.94) and PBBANK (-4 sen to RM13.44). Leading Movers were PETCHEM (+12 sen to RM6.15), PPB (+22 sen to RM17.48), TM (+4 sen to RM3.74), KLK (+20 sen to RM22.58) and MAXIS (+4 sen to RM5.35). Market breadth was negative with 317 gainers as compared to 552 losers.


Source: JF Apex Securities Bhd

Market Commentary

19 January 2011

The FBM KLCI index lost 3.53 points or 0.22% on Wednesday. The Finance Index fell 0.75% to 14230.41 points, the Properties Index dropped 0.29% to 1122.59 points and the Plantation Index rose 0.01% to 8209.23 points. The market traded within a range of 7.01 points between an intra-day high of 1568.88 and a low of 1561.87 during the session. Actively traded stocks include SAAG, BORNOIL, BENALEC, KBUNAI, RAMUNIA, KSSC, POS-CA, KUB, CIMB and COMPUGT. Trading volume decreased to 1631.78 mil shares worth RM2204.36 mil as compared to Tuesday's 1703.63 mil shares worth RM2020.36 mil. Lagging Movers were CIMB (-14 sen to RM8.64), MAYBANK (-5 sen to RM8.91), IOICORP (-3 sen to RM5.95), PBBANK (-4 sen to RM13.44) and AMMB (-5 sen to RM6.90). Leading Movers were PETCHEM (+7 sen to RM6.35), DIGI (+28 sen to RM25.58), KLK (+10 sen to RM22.86), MAS (+3 sen to RM2.16) and YTLPOWR (+1 sen to RM2.44). Market breadth was negative with 293 gainers as compared to 545 losers.


Source: JF Apex Securities Bhd

Govt to look at key business concerns under ETP

KUALA LUMPUR: The government is looking closely at key concerns of the business community under the Economic Transformation Programme (ETP), especially in the area of human capital, foreign labour and immigration, the Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said yesterday.

He also said the government was keeping an open mind on issues, and there was more coordination among the different government agencies, in tackling issues.

He was speaking to reporters after a Dialogue Session yesterday between the ministry and the private sector and foreign business communities to promote trade and investment in Malaysia.

“This is a new initiative from us and for the first time, we are engaging the foreign business councils. We discussed many things and this year, we will seek ways to reduce barriers,” Mustapa said.

The dialogue session also included a special briefing on the ETP by the Minister in the Prime Minister’s Department cum chief executive officer of Performance Management and Delivery Unit (Pemandu), Senator Datuk Seri Idris Jala.

During the session, Mustapa said many issues concerning human capital development had been discussed. “It has been a fruitful discussion this morning and we will be picking up these issues and looking into resolving them,” he said.

In terms of implementation, he however said there was still a general feeling that the country needed to buck up, although various programmes and plans that had been put in place.

“There is still some frustration, and our job is in the business of improving business sentiment and facilitating trades and investments, and that is why we need their forthright and sincere comments.” — Bernama

The session yesterday was attended by about 200 delegates representing 34 business councils, local industry councils and government agencies.

Meanwhile, President of the Malaysia Australia Business Council, Michael Halpin said the government’s plans could be gauged from its implementation.

“In general, I think all the business councils are impressed with the plans that are laid out, but its a mammoth path the government is taking. I think the implementation is what every one will be watching,” he said. — Bernama

TEB to raise RM300m from stake sale

PETALING JAYA: Time Engineering Bhd (TEB) expects to raise RM300.57mil for the sale of its entire equity stake in TimedotCom Bhd (TdC) to the former's shareholders.

The proposed offer for sale will involve a renounceable offer for sale by TEB of up to 626,181,720 ordinary shares of RM1 each in TdC at an offer price to be determined, payable in full upon acceptance, on the basis of eight offer shares for every 10 ordinary shares of 20 sen each in TEB held by the shareholders of the company at a date to be determined.

TEB told Bursa Malaysia yesterday that the proposed offer for sale would enable the company to divest its stake in TdC in a manner that would provide the entitled shareholders with an opportunity to have a direct participation in the prospects and future performance of TdC at a discount to the market price.

MSC S’pore IPO shares priced at S$1.75

PETALING JAYA: Malaysia Smelting Corp Bhd’s (MSC) public offering shares for a secondary listing on the Singapore Exchange Securities Trading Ltd (SGX) has been fixed at S$1.75 or RM4.17 a share.

The company told Bursa Malaysia yesterday that the issue price was a discount of about 12.21% to the five-day volume weighted average price up to and including Jan 19 of RM4.75 per share.

It said that the issue price was arrived at after a book-building process that was determined based on the demand by institutional and selected investors in Singapore and after taking into consideration the market price of MSC shares.

The public issue will consist of a public offer of one million shares in Singapore and a placement of 24 million shares to investors, including institutional and other investors in Singapore.

A management agreement had been executed between MSC and CIMB Bank Bhd (Singapore Branch) with the latter appointed as the issue manager for the public issue.

In addition, an underwriting and placement agreement had also been executed between MSC and CIMB Securities (Singapore) Pte Ltd and consequently, the latter will be the underwriter and placement agent for the entire portion of the public offer and the placement respectively.

The public offer opened yesterday (Friday) and its closing date is Tuesday, Jan 25 at 12 noon.

Meanwhile, in its prospectus, MSC said it expected to raise about S$40.1mil (RM96mil) from the public offer, with about S$8.3mil (RM20mil) to be used for the expansion of mining and smelting operations through the acquisitions of plant and machinery.

Additionally, the company said S$26.2mil (RM63mil) would be utilised for the development of new mines.

This would be through the selective acquisitions of suitable mining concessions or leases, as well as mining projects and assets primarily in Malaysia and Indonesia.

About S$5.6mil (RM13mil) would be for general working capital purposes and S$3.7mil (RM8.9mil) for expenses in relation to the offering and the proposed secondary listing of its shares on the SGX.

28 January 2011

The FBM KLCI index lost 5.07 points or 0.33% on Friday. The Finance Index fell 0.11% to 13963.13 points, the Properties Index dropped 0.29% to 1089.43 points and the Plantation Index down 0.38% to 7887.76 points. The market traded within a range of 11.36 points between an intra-day high of 1529.84 and a low of 1518.48 during the session. Actively traded stocks include TEJARI-OR, HWGB, HWGB-WB, MUIIND, MAHSING-CB, KBUNAI, TANCO, PMCAP, SAAG and KENCANA.

Trading volume decreased to 1346.76 mil shares worth RM1976.35 mil as compared to Thursday’s 1410.19 mil shares worth RM2216.60 mil. Lagging Movers were TENAGA (-15 sen to RM6.23), SIME (-8 sen to RM9.16), AMMB (-10 sen to RM6.60), GENTING (-6 sen to RM10.84) and IOICORP (-3 sen to RM5.74). Leading Movers were AXIATA (+3 sen to RM4.73), CIMB (+3 sen to RM8.45), YTL (+7 sen to RM8.17), MAYBANK (+1 sen to RM8.71) and KLK (+4 sen to RM21.34). Market breadth was negative with 301 gainers as compared to 462 losers.

Source: JF Apex Securities Bhd

28 January 2011

The FBM KLCI index lost 5.07 points or 0.33% on Friday. The Finance Index fell 0.11% to 13963.13 points, the Properties Index dropped 0.29% to 1089.43 points and the Plantation Index down 0.38% to 7887.76 points. The market traded within a range of 11.36 points between an intra-day high of 1529.84 and a low of 1518.48 during the session. Actively traded stocks include TEJARI-OR, HWGB, HWGB-WB, MUIIND, MAHSING-CB, KBUNAI, TANCO, PMCAP, SAAG and KENCANA.

Trading volume decreased to 1346.76 mil shares worth RM1976.35 mil as compared to Thursday’s 1410.19 mil shares worth RM2216.60 mil. Lagging Movers were TENAGA (-15 sen to RM6.23), SIME (-8 sen to RM9.16), AMMB (-10 sen to RM6.60), GENTING (-6 sen to RM10.84) and IOICORP (-3 sen to RM5.74). Leading Movers were AXIATA (+3 sen to RM4.73), CIMB (+3 sen to RM8.45), YTL (+7 sen to RM8.17), MAYBANK (+1 sen to RM8.71) and KLK (+4 sen to RM21.34). Market breadth was negative with 301 gainers as compared to 462 losers.

Source: JF Apex Securities Bhd

28 January 2011

The FBM KLCI index lost 5.07 points or 0.33% on Friday. The Finance Index fell 0.11% to 13963.13 points, the Properties Index dropped 0.29% to 1089.43 points and the Plantation Index down 0.38% to 7887.76 points. The market traded within a range of 11.36 points between an intra-day high of 1529.84 and a low of 1518.48 during the session. Actively traded stocks include TEJARI-OR, HWGB, HWGB-WB, MUIIND, MAHSING-CB, KBUNAI, TANCO, PMCAP, SAAG and KENCANA.

Trading volume decreased to 1346.76 mil shares worth RM1976.35 mil as compared to Thursday’s 1410.19 mil shares worth RM2216.60 mil. Lagging Movers were TENAGA (-15 sen to RM6.23), SIME (-8 sen to RM9.16), AMMB (-10 sen to RM6.60), GENTING (-6 sen to RM10.84) and IOICORP (-3 sen to RM5.74). Leading Movers were AXIATA (+3 sen to RM4.73), CIMB (+3 sen to RM8.45), YTL (+7 sen to RM8.17), MAYBANK (+1 sen to RM8.71) and KLK (+4 sen to RM21.34). Market breadth was negative with 301 gainers as compared to 462 losers.

Source: JF Apex Securities Bhd

this thread will be of my interest.... but tooo many info can be found online ared...

31 January 2011

The FBM KLCI index lost 1.95 points or 0.13% on Monday. The Finance Index fell 0.20% to 13934.65 points, the Properties Index up 0.22% to 1091.87 points and the Plantation Index down 0.24% to 7868.73 points.

The market traded within a range of 14.78 points between an intra-day high of 1520.63 and a low of 1505.85 during the session. Actively traded stocks include HWGB, HEXAGON-WA, KBUNAI, HWGB-WB, OLYMPIA, SAAG, HEXAGON, RAMUNIA, TANCO and OLYMPIA-WA. Trading volume increased to 1415.47 mil shares worth RM2079.53 mil as compared to Friday’s 1346.76 mil shares worth RM1976.35 mil.

Leading Movers were GENTING (+18 sen to RM10.66), CIMB (+7 sen to RM8.38), TENAGA (+8 sen to RM6.15), BAT (+84 sen to RM47.18) and PBBANK (+2 sen to RM13.38). Lagging Movers were AXIATA (-7 sen to RM4.80), GENM (-6 sen to RM3.33), DIGI (-30 sen to RM25.60), SIME (-3 sen to RM9.19) and AMMB (-3 sen to RM6.63). Market breadth was negative with 300 gainers as compared to 428 losers.

Source: JF Apex Securities Bhd

Tuesday February 1, 2011

Mild correction by Bursa ahead of short week
By JAGDEV SINGH SIDHU

Egypt demonstrations not expected to have any impact on market

KUALA LUMPUR: Shares on Bursa Malaysia underwent a mild correction with the FTSE Bursa Malaysia KLCI (FBM KLCI) shedding 1.95 points ahead of a shortened trading week as most stock markets in Asia continue to reel from the demonstrations in Egypt.

Shares of Genting Bhd and CIMB Group Holdings Bhd, which dropped 18 sen and 7 sen respectively yesterday, dragged the FBM KLCI lower but analysts said the weakness in the market was more so about investors being cautious ahead of the truncated trading week.

“I am still positive on the upside of the market,'' said TA Securities research head Kaladher Govindan, who has a FBM KLCI target of 1,820 points this year. The drop is just a normal profit taking.''

Volume of shares traded on Bursa, however, inched up a bit to 1.42 billion shares. The ringgit weakened slightly to RM3.06 to the dollar.

Among the major markets in Asia, shares on Bursa fell the least. Only the stock markets in China and Taiwan closed up for the day.

While shares were generally lower on concerns about the turmoil in Egypt, commodities rose with the price of crude oil homing in on the US$90 per barrel mark. Crude oil was up marginally at US$89 at press time.

“Egypt does seem to have been a bit of a worry for markets,'' Shane Oliver, head of investment strategy at AMP Capital Investors Ltd, told Bloomberg.

“Share markets were already vulnerable to bad news after recent strong gains, and alongside worries about tightening in Asia to combat inflation, the unrest in Egypt could prove to be a trigger for a correction.''

There were concerns that Egypt, an importer of crude palm oil (CPO) that accounts for 2% of global demand, was lowering its demand for CPO amidst the troubles in the country.

“Should the Egypt unrest drag on, it could be negative for CPO price in the near term as it may affect short-term palm oil exports to Egypt which accounted for 2% of total global palm oil exports in 2009.

“However, we expect any disruptions to trade to be temporary as suppliers will look at alternative routes into the country should there be any disruptions to port operations,'' said CIMB Research in a note.

Shares of plantation companies such as Batu Kawan Bhd and Kulim (M) Bhd fell in trade yesterday but the anticipated weakness in CPO prices, however, did not materialise.

CPO futures, on the other hand, surged by RM109 to RM3,809.

Also rising in trade yesterday was shares of MTD Capital Bhd, which climbed 7% to RM10.22 after the company's shareholders launched a RM3.53bil takeover offer of the construction and toll-road concessionaire last week.

Century Software makes debut with one sen gain

Firm expects to see growth in the payment gateway

KUALA LUMPUR: Century Software Holdings Bhd made its debut on the Main Market of Bursa Malaysia yesterday with a premium of one sen over its issue price of 93 sen per share.

The company, which specialises in financial management software solutions, saw its counter opening at 94 sen with 1.6 million shares changing hands.

Commenting on the listing, deputy executive chairman Samsul Husin said looking at the overall market, he was happy with the premium recorded.

http://biz.thestar.com.my/archives/2011/2/1/business/b_07samsul.jpg
Samsul Husin ... ‘I am excited with the payment business and services as it provides us with a potential growth for this year.’

He also said moving forward, the company would focus on its business plans; to boost earnings and growth for this year.

“We have two segments under Century Software, a Financial Management Software Solution (FMSS) and payment gateway.

“The FMSS provides stability to the company's earnings while for growth, I think is going to be the payment gateway.

“I am excited with the payment business and services as it provides us with a potential growth for this year,” Samsul told reporters after the listing ceremony.

The listing was also witnessed by the Deputy Finance Minister Datuk Dr Awang Adek Hussin.

According to Samsul, the company under the FMSS, was going to establish itself in the region by penetrating the Indonesian, Cambodian and Brunei markets.

In terms of the payment gateway, he said, the company would be launching e-Bayaran, a one-stop business to government portal for companies to make statutory payments, such as EPF, Socso and income tax.

“The portal's value proposition of convenience will certainly be the impetus for market acceptance, and thus accelerate the Group's growth,” he explained.

Samsul said the portal would be launched by the first quarter of this year.

Meanwhile, Awang Adek said the listing of Century Software on the Main Market, had made it a total of five companies to have been listed on Bursa Malaysia under the Jejak Jaya Bumiputera Scheme (SJJB).

“We expect between five to seven more companies to be listed on Bursa Malaysia this year under this scheme,” he added.

The SJJB is aimed at further increasing the number of bumiputra companies which can be listed on the Main or Ace Markets of Bursa Malaysia.

He also highlighted that to date, about 30 bumiputra companies have been registered under this scheme.

The share closed at 96 sen, a premium of three sen over its issue price of 93 sen per share, with 20.3 million shares traded. Bernama

2 Feb 2011
JOINT NEWS RELEASE - ASEAN EXCHANGES COMPLETE TECHNOLOGY DESIGN STUDY OF TRADING LINK

Four ASEAN Exchanges, namely Bursa Malaysia (BM), the Philippine Stock Exchange (PSE), Singapore Exchange (SGX) and the Stock Exchange of Thailand (SET) working together with NYSE Technologies, today said the design study of the technology framework for the ASEAN Trading Link has been completed.

Shortlisted vendors who are able to provide the infrastructure have been invited to tender.

The ASEAN Trading Link aims to electronically interconnect the participating markets and facilitate cross border order trading seamlessly. Depending on the selected vendor, it is expected that the link will go live toward the end of 2011.

Queen Elizabeth Hospital II to be ready by April


KOTA KINABALU, Friday 4 February 2011 (Bernama) -- The upgrading works for the Queen Elizabeth Hospital (QEH) II in Luyang is expected to be completed in April, said Health Minister Datuk Seri Liow Tiong Lai.

He said the Federal Government hoped the works could be sped up for the good of the people and the state.

"We need more rooms for patients, and we have a few months left...so, we have to speed up.

"If possible, we want the Queen Elizabeth Hospital (QEH) II to be ready by April," he told reporters when met at the Sabah MCA open house at the Kota Kinabalu High School Hall here today.

Upon completion in about three months, the hospital will have 455 beds (from the current 171), a four-storey car park complex, two cardiac operating theatres, two invasive catheterisation laboratories, 10 cardiothoracic intensive care units and 10 coronary care units.

The two minor operating theatres, mortuary and emergency department and the doctors’ on-call complex will also be improved.

Liow said the upgrading works would be carried out under the Tenth Malaysia Plan (10MP), adding that the government also planned to upgrade the hospitals in Beaufort and Kota Marudu to specialist hospitals.

Apart from that, he said the ministry hoped to provide medical airlift service using two helicopters to ferry patients during emergencies, particularly from rural areas to the nearest hospitals in big towns such as Kota Kinabalu, Sandakan and Tawau.

"Tender for medical helicopters will be called soon, and we hope we can begin the airlift missions as soon as possible," he said.

Meanwhile, Liow said the ministry was considering introducing boats laden with mobile clinics to ply the Kinabatangan River in Sandakan.

"This is intended to be a pilot project geared towards meeting the urgent need for healthcare, especially in the interior and remote areas," he said.

Plans for Kuala Lumpur to attract foreign investors

WHILE the Government plans to spur the economy with various mega projects that holds much promise, Millennium Development International (MDI), says considerable thought must be given to timing and type of projects being planned.

“Planning and research as to the type and scale of projects is crucial, taking into consideration what's already available today,” says MDI head of investor relations Shaun Tobin.

Tobin says the projects are of considerable size and the Government, together with its advisors, must really take a far-sighted and visionary view as to the needs and growth of the country far into the future, with an eye on the growth of other countries in the region because the countries of South-East Asia are essentially competing among themselves for the growth and foreign direct investments.


Shaun Tobin ... ‘Malaysia is looking at projects of considerable international standing; this means it will need the financial resources of foreign investors.’
The Government announced plans to have seven mega projects last year.

The seven are: the development of Kampung Baru, the Kuala Lumpur International Financial District, the Rubber Research Institute Malaysia land in Sungai Buloh, the former air force base in Sungai Besi, the Duta-Matrade Centre, the former Pudu prison development and the Stadium Merdeka project.

MDI is a development management company headquartered in Beirut, Lebanon.

It is a subsidiary of Saraya Holdings, a real estate development and asset management company investing in the travel and tourism industry.

MDI undertakes work on behalf of developers and investors in real estates.

Its expertise is in setting up the development strategy and subsequently undertaking all the work done by a developer.

The only difference is the money does not come from MDI but from investors, who can be the government or the private sector.

Because of the scale of the projects and the billions involved, Tobin says it may be prudent to focus very closely on two or three of the projects after a series of careful studies as to which of the seven projects it should focus first in order to leverage on the one that will spearhead growth.

After having selected which project it would like to focus on, Tobin said the next step is to have market studies as to the type of development it would like to undertake on a phase-by-phase basis, taking into consideration the office, retail, commercial, hotel and leisure, and residential demand and supply today and future needs.

Tobin said the needs of the different sub-sectors of the property market have to be taken into consideration, its linkages with what is already established today and the future needs, taking into consideration the population growth.

Market studies should include sustainability of operations, returns and social, and environmental impact.

“Consider the projects holistically. We understand Malaysia's vision and plan, and the government is in the best position to decide which of these seven fit into the scheme of things for the country at this juncture of the country's growth, vis-a-vis what is happening in other countries in the region,” he says, referring to the various measures taken by the Hong Kong and Singapore government to cool their property markets.

Tobin said MDI has a portfolio of clients who are keen to invest in Malaysia but land owners and the Government need to do market studies on what the Klang Valley needs. All seven are located in the Klang Valley.

“These plans have to work in concert with the Government's vision for other economic sectors of the country's economy, for example, in the financial sector,” saya Tobin, adding that this sort of focus is crucial as it will help planners to narrow down what is needed.

MDI has brought in several investors and they have been pleased with what they were shown.

“What they would like to see is market studies and research before they put their money down,” he said.

MDI's minimum quantum is RM750mil for a five to 10-acre project. MDI has been receiving enquiries from corporations in Britain, the United States, Japan, South Korea and the Middle East.

Tobin says some of the investors have flown in to view the sites.

“Previously, Malaysian land owners just show the investors the site and a deal was cut after negotiations. But the situation today is different. Malaysia is looking at projects of considerable international standing; this means it will need the financial resources of foreign investors,” he says.

Tobin says the next 18 months will be crucial for the country as global investors are searching for countries to invest.

Much of these will be heading towards Asia, he says.

MDI is involve with the development of Iskandar Financial District in Medini, Iskandar Malaysia in Johor.

The Iskandar Financial District is one of nine parcels that form Medini. MDI planned a full range of land uses and functions including office, retail, residential, hotel and leisure, recreation and public amenities for a third of the land area of 430ha in that district.

Tobin says its portfolio of clients are now considering investing in the Klang Valley.

MDI was also the development manager for the city of Aktau in Kazahkstan, Makkah and Al-Shamiyah, both in Saudi Arabia and Bandar Jissah in Oman.

2 Feb 2011
JOINT NEWS RELEASE - ASEAN EXCHANGES COMPLETE TECHNOLOGY DESIGN STUDY OF TRADING LINK

Four ASEAN Exchanges, namely Bursa Malaysia (BM), the Philippine Stock Exchange (PSE), Singapore Exchange (SGX) and the Stock Exchange of Thailand (SET) working together with NYSE Technologies, today said the design study of the technology framework for the ASEAN Trading Link has been completed.

Shortlisted vendors who are able to provide the infrastructure have been invited to tender.

The ASEAN Trading Link aims to electronically interconnect the participating markets and facilitate cross border order trading seamlessly. Depending on the selected vendor, it is expected that the link will go live toward the end of 2011.

Major indices in Asia:(Closing 7 February 2011)
All Ordinaries 4,964.30
12:39AM EST
5.50 (0.11%)

Shanghai Composite 2,799.40
Feb 1
8.70 (0.31%)

Hang Seng 23,553.59
3:01AM EST
-355.37 (-1.49%)

BSE 30 18,145.59
4:14AM EST
137.44 (0.76%)

Jakarta Composite 3,487.71
4:00AM EST
-8.46 (-0.24%)

KLSE Composite 1,535.60
3:50AM EST
3.78 (0.25%)

Nikkei 225 10,592.04
1:28AM EST
48.52 (0.46%)

NZSE 50 3,387.41
Feb 6
19.59 (0.58%)

Straits Times 3,192.18
4:10AM EST
-18.94 (-0.59%)

Seoul Composite 2,081.74
1:02AM EST
9.71 (0.47%)

Taiwan Weighted 9,145.35
Jan 28
43.02 (0.47%)

Current indices in Europe:(7 February 2011)
ATX 2,962.10
4:07AM EST
18.39 (0.62%)

BEL-20 2,717.33
4:22AM EST
24.97 (0.93%)

CAC 40 4,085.11
4:22AM EST
37.90 (0.94%)

DAX 7,269.70
4:07AM EST
53.49 (0.74%)

AEX General 368.72
4:07AM EST
3.21 (0.88%)

OSE All Share 492.48
4:07AM EST
1.41 (0.29%)

Stockholm General 363.78
4:22AM EST
1.99 (0.55%)

Swiss Market 6,647.14
4:05AM EST
62.74 (0.95%)

FTSE 100 6,045.78
4:07AM EST
48.40 (0.81%)

Shares of the following companies had unusual moves in Malaysia trading. Stock symbols are in parentheses and prices are as of the 5 p.m. close in Kuala Lumpur.

The FTSE Bursa Malaysia KLCI Index rose 3.78, or 0.3 percent, to 1,535.60, its highest close since Jan. 24. The market was shut on Feb. 3 and 4 for public holidays.

Boustead Holdings Bhd. (BOUS MK), a plantation, property and financial services group, gained 2.6 percent to 5.85 ringgit, the most since Jan. 13. The share-price estimate was raised to 8.10 ringgit from 7.60 ringgit at HwangDBS Vickers Research Sdn. to reflect higher values for some of its property projects.

DFZ Capital Bhd. (DFZ MK), a duty-free retailer, climbed 1.3 percent to 3.94 ringgit, the highest level since Sept. 30. The company said Esmart Holdings Ltd. extended the deadline for its unconditional takeover offer to March 1, according to a company statement.

Genting Bhd. (GENT MK), a casino and power group, fell 3.9 percent to 10.90 ringgit, its biggest drop since Jan. 25, after its Singapore unit’s share price estimate was cut by Citigroup Inc. to reflect a possible volume decline at Resorts World Sentosa. Genting Singapore Plc’s share estimate was reduced to S$2.60 from S$2.75, according to a report by Citigroup.

Ho Wah Genting Bhd. (HWG MK), a maker of wires and cables, gained 2.8 percent to 93 sen, its highest close since March 2004. The company said it aims to start tin-ore mining in the northern state of Perak.

Rimbunan Sawit Bhd. (RSAW MK), a palm oil producer, advanced 1.7 percent to 2.36 ringgit, its highest close since Jan. 14. The company signed agreements to buy stakes in three companies from the Sarawak state government for 16 million ringgit ($5.3 million). The purchases will be funded by the proceeds of the sale of 6.96 million of new shares at an issue price of about 2.30 ringgit apiece, the company said in a statement.

Woohoo, volume is best in nearly 2 years:

Volume ('00) 32,386,446 lots (3.238 billion shares)
Value RM 2,618,073,200

Bursa Malaysia Indices at close:

*Market trading as of 7:18:45pm MST


FBMKLCI 1535.60 3.78
FBMT100 10300.05 24.68
FBM70 11379.69 24.73
FBMSCAP 13329.22 100.84
FBMEMAS 10601.25 30.93
FBMFLG 9585.25 139.50
FA40 10304.94 -6.60
FBMSHA 10357.71 63.70
FBMHIJRAH 10710.94 72.30
FBMACE 4664.19 249.90
FBMAPMYR 22476.84 65.93*
FBMAPUSD 21297.18 104.36*
FBMPALMOIL 15588.38 138.38
CONSTRUCTN 297.54 0.17
CONSUMER 459.06 0.27
IND-PROD 113.99 0.42
TRAD/SERV 193.91 -0.10
TECHNOLOGY 18.50 0.09
FINANCE 14012.23 41.09
PROPERTIES 1124.31 10.39
PLANTATION 8079.69 122.19
MINING 603.88 -12.16
INDUSTRIAL 2878.20 -2.07

08 February 2011

The FBM KLCI index gained 3.78 points or 0.25% on Monday. The Finance Index increased 0.29% to 14012.23 points, the Properties Index up 0.93% to 1124.31 points and the Plantation Index rose 1.54% to 8079.69 points. The market traded within a range of 7.68 points between an intra-day high of 1541.43 and a low of 1533.75 during the session. Actively traded stocks include IRIS, KBUNAI, TALAM, SAAG, HWGB, RAMUNIA, IRIS-WB, JOTECH-WA, RAMUNIA-WA and JOTECH.

Trading volume increased to 3238.64 mil shares worth RM2618.07 mil as compared to Tuesday’s 1531.90 mil shares worth RM1701.94 mil. Leading Movers were KLK (+110 sen to RM22.70), AXIATA (+8 sen to RM4.94), MAYBANK (+7 sen to RM8.80), PETCHEM (+15 sen to RM6.30) and SIME (+4 sen to RM9.33). Lagging Movers were GENTING (-44 sen to RM10.90), PPB (-12 sen to RM17.00), MAXIS (-3 sen to RM5.33), BAT (-44 sen to RM47.56) and MISC (-3 sen to RM8.26). Market breadth was positive with 567 gainers as compared to 287 losers.


Source: JF Apex Securities Bhd

Coming soon to Bursa Malaysia:

Prestariang Berhad (Approving Stage)

PUTRAJAYA: The Bumiputra Agenda Unit (Teraju) has been set up to lead, coordinate and drive the community's participation in the economy.

Prime Minister Datuk Seri Najib Tun Razak said Teraju would boost bumiputra economic participation through new and existing initiatives and would propose institutional reforms to increase effectiveness.

Najib said the special unit, under the Prime Minister's Department, was also tasked to look into five areas, namely entrepreneurship and wealth creation, funding, education and employment, institutional and policy instrument review, and stakeholder management.

"Teraju will work with relevant agencies to develop implementation initiatives, review existing programmes and manage the implementation of these programmes.

"To be able to understand ground issues and sentiments, it will be crucial for Teraju to engage with non-governmental organisations (NGOs) and stakeholders," he said when launching Teraju after chairing the Bumiputra Agenda Action Council meeting here, Tuesday.

Najib also announced the appointment of Husni Salleh as Teraju chief executive officer.

Husni, previously chief executive officer of Malaysia Venture Capital Management Berhad, has more than 20 years of experience in investment and venture capital.

09 February 2011

The FBM KLCI index lost 3.48 points or 0.23% on Wednesday. The Finance Index fell 0.50% to 13958.97 points, the Properties Index up 0.58% to 1133.93 points and the Plantation Index eased 0.65% to 8039.31 points. The market traded within a range of 8.60 points between an intra-day high of 1541.98 and a low of 1533.38 during the session. Actively traded stocks include KBUNAI, HWGB, SAAG, TANCO, TALAM, OLYMPIA-WA, HWGB-WB, KUB, OLYMPIA and CBSTECH. Trading volume decreased to 2196.53 mil shares worth RM2660.29 mil as compared to Tuesday’s 3178.35 mil shares worth RM2736.34 mil. Market breadth was negative with 347 gainers as compared to 493 losers.

Source: JF Apex Securities Bhd

10 February 2011

The FBM KLCI index lost 32.08 points or 2.09% on Thursday as Asia markets had a further decline from China's interest rate hike and unfavourable U.S. unemployment rate statement.

The Finance Index fell 2.31% to 13637.01 points, the Properties Index dropped 0.77% to 1125.19 points and the Plantation Index down 1.85% to 7890.55 points. The market traded within a range of 23.40 points between an intra-day high of 1527.39 and a low of 1503.99 during the session.

Actively traded stocks include IRIS, SAAG, KBUNAI, TALAM, HEXAGON-WA, HWGB, IRIS-WB, KUB, IGB-CD and MPHB. Trading volume increased to 2225.20 mil shares worth RM3127.80 mil as compared to Wednesday’s 2196.53 mil shares worth RM2660.29 mil.

Leading Movers were PBBANK (+15 sen to RM13.06), MAYBANK (+22 sen to RM8.56), IOICORP (+22 sen to RM5.56), CIMB (+19 sen to RM8.18) and AXIATA (+14 sen to RM4.99). Lagging Movers were DIGI (-12 sen to RM25.74), TM (unchanged at RM3.88), MAXIS (unchanged at RM5.46), KLK (-2 sen to RM22.08) and HLBANK (-2 sen to RM9.23). Market breadth was negative with 160 gainers as compared to 750 losers.

Source: JF Apex Securities Bhd

Could this deal affect Bursa Malaysia?

NYSE Death as Dominant Exchange Presaged Deutsche Boerse Deal

The New York Stock Exchange, the symbol of American capitalism for more than a century, may merge with a German rival after losing ground to smaller competitors.

NYSE Euronext, the owner of the NYSE, is negotiating to to be acquired by Deutsche Boerse AG with equity valued at $10 billion after its market share dwindled to 23 percent from 80 percent in the past six years. The new company will be the biggest exchange owner, handling equities worth $15 trillion and 40 percent of the U.S. options market.

The 219-year-old exchange led by Chief Executive Officer Duncan Niederauer, home to General Electric Co. and Ford Motor Co., was diminished as regulators opened U.S. markets to more competition after investors demanded lower trading costs. The sale to 18-year-old Deutsche Boerse in Frankfurt shows the increasing importance of machines over humans in trading stocks and the rising influence of derivatives, where profit margins are as high as 55 percent.

“Sadly, the NYSE became a victim of its own success -- too large and dominant to move quickly to adapt,” said Peter Kenny, a managing director in institutional sales at Knight Equity Markets LP in Jersey City, New Jersey, who became a member in 1987. “It is not all bad, but it is very sad to an old timer like myself.”

Deutsche Boerse and NYSE Euronext announced merger talks on the same day that London Stock Exchange Group Plc agreed to purchase Toronto-based TMX Group Inc. for about $3.1 billion.

Exchange Mergers

The biggest day ever for exchange mergers triggered rallies in shares of operators from New York to Chicago and Sao Paulo. Nasdaq OMX Group Inc., IntercontinentalExchange Inc., CBOE Holdings Inc. and BM&FBovespa SA -- all of which run derivative venues for futures or options -- rallied as much as 6.7 percent yesterday.

Deutsche Boerse rose 2.3 percent to 59.77 euros as of 10:31 a.m. in London. NYSE Euronext shares surged 14 percent to $38.10 in New York. Their total market value of $25.6 billion exceeded Hong Kong Exchanges & Clearing Ltd.’s, currently the world’s largest by market capitalization.

“We are still waiting for more details and are flying a bit blind right now,” said Timothy Ghriskey, chief investment officer at Solaris Asset Management in Bedford Hills, New York, which manages $2 billion. “But the market likes the combination of cross-board stock exchanges.”

Fragmented Markets

With as many as 50 venues trading equities in the U.S. compared with fewer than 20 a decade ago, competition has driven down the amount exchanges can charge for executing trades. Brokers who owned the NYSE 10 years ago earned 6.25 cents or more when buying and selling 100 shares. Now, the spread is a penny for the most heavily traded stocks.

NYSE Euronext said derivatives revenue climbed 14 percent in 2010, while overall sales declined for two straight years. Derivatives are contracts whose values are determined by underlying assets.

Deutsche Boerse, which may buy NYSE Euronext for about $10 billion in stock, would own about 60 percent of the new company. Niederauer, 51, would be chief executive officer of the new organization. Reto Francioni, the 55-year-old CEO of Deutsche Boerse, would be chairman.

The New York Stock Exchange, formed in 1792 under a sycamore tree on Wall Street, became the center of American capitalism through its grip on stock listings and trading. During the crash of 1987, Chairman John J. Phelan won praise for securing pledges from executives of some of the exchange’s biggest companies to buy back their own stock.

Scandal Decade

The Big Board’s reputation faded in the last decade when scandals highlighted the potential for collusion on the NYSE floor and faster technology reduced the need for middlemen.

In September 2003, Chairman Richard Grasso ended a 36-year career at the exchange as regulators and directors said a $140 million pay package called his leadership into question. Two years later, the U.S. charged 15 NYSE specialists with fraud, saying they manipulated orders for four years to pocket $19 million at clients’ expense. The NYSE was censured for self- regulatory failures and agreed to submit to outside monitoring for the first time.

Grasso’s successor, John Thain, orchestrated the 2006 reverse merger that gave the NYSE control of Chicago-based Archipelago Holdings Inc. and turned the member-owned exchange into a public company. By then, regulatory directives aimed at lowering transaction costs were in the process of cutting the NYSE’s market share.

Penny Increments

The 2001 switch to decimal share pricing, from sixteenths of a dollar, allowed any firm willing to sell for a penny less than the best available price to step in and make the trade. That reduced margins for specialists on the floor of the exchange. Automated-trading firms such as Getco LLC in Chicago used high-speed computers on electronic venues such as Bats Global Markets in Kansas City, Missouri, and Jersey City, New Jersey-based Direct Edge Holdings LLC to overcome lower profits by sending thousands of orders to trade every second.

At the same time, exchanges around the world were combining, with at least $95.8 billion of mergers completed since January 2000. NYSE combined with Euronext NV in 2007. TMX bought Montreal Exchange Inc. in 2008, a year after London Stock Exchange Group acquired Borsa Italiana SpA. ICE purchased the New York Board of Trade in 2007 and Bolsa de Mercadorias e Futuros bought Bovespa Holding SA in 2008.

Futures exchanges around the world traded 8.2 billion contracts in 2009, almost three times the turnover in 2003, according to data from the Futures Industry Association.

Seeking Volume

With rivals taking business, one of the quickest ways for NYSE Euronext to grow is through mergers and acquisitions, said Michael Pagano, a professor of finance who studies exchanges and market structure at the Villanova School of Business in Villanova, Pennsylvania.

“It costs a fixed amount of money to build a computer system for trading, but once you generate revenue that covers those fixed costs the marginal cost of covering just one additional trade beyond that is basically just electricity,” Pagano said.

That’s led to a reduction in costs. Total salaries and benefits at NYSE fell by 5.6 percent to $613 million last year, the biggest drop since the data on the publicly traded company began in 2005. Deutsche Boerse, which is scheduled to release results next week, cut staff expenses by 3.7 percent in 2009 and 26 percent in 2008, according to data compiled by Bloomberg.

Amsterdam, Lisbon

NYSE Euronext owns exchanges in Amsterdam, Lisbon, Paris and Brussels, as well as London-based Liffe, Europe’s second- largest derivatives market. The company also runs three U.S. stock exchanges: NYSE Arca, NYSE Amex and the New York Stock Exchange, two options platforms and the NYSE Liffe U.S. futures exchange, which trades contracts linked to interest rates.

Deutsche Boerse operates the Frankfurt stock exchange and Clearstream, Europe’s second-biggest securities-settlement firm. The company also has Eurex Clearing AG and a 50 percent holding in Eurex, the region’s largest futures market. Eurex bought a stake in International Securities Exchange, an options market that competes with CBOE, in 2007.

“In Exchange 101, it’s about operating leverage,” said Jamie Selway, managing director at Investment Technology Group Inc. in New York and an expert in how markets are organized. He said NYSE Euronext and Deutsche Boerse can combine and eliminate more costs in personnel and technology. “You spend a fixed amount of cost to operate platforms. Anything additional you can trade on them is incremental revenue.”

Cutting Jobs

NYSE and Deutsche Boerse may move to a single execution system, coordinating trading services and eliminating jobs in areas such as sales, marketing and computer support. The combined exchange will use NYSE Euronext’s trading system for cash equities, said a person familiar with the matter who declined to be identified because the talks are private.

The deal would give the combined company about 40 percent of U.S. options volume by adding NYSE Euronext’s two markets with the ISE, currently the third-largest venue. CBOE was the biggest options exchange operator last month with 30 percent of contracts handled on its venues.

Combined, the companies will be the world’s largest futures market by volume, according to data from the Futures Industry Association, a trade group representing Wall Street banks active in derivatives. The merged firm would control 11 derivatives markets, including Liffe U.K., NYSE Arca Options, NYSE Liffe U.S., Eurex and the International Securities Exchange. The combined venues would have posted volume of 4.8 billion contracts in 2010, according to FIA.

CME Trading

That compares to 3.1 billion trades last year at CME Group Inc., the world’s largest futures exchange, FIA said.

NYSE Euronext would also handle clearing, the guaranteeing of payments for transactions and delivery of securities, for equities and futures in Europe through businesses run by Deutsche Boerse. Combining products in the same clearinghouse limits the ability of other markets to compete.

“Expanding a good, modern system that already exists like NYSE costs very little,” said Alfred Berkeley, chairman of Pipeline Trading Systems LLC in New York and president of Nasdaq Stock Market from 1996 to 2000. “They can eliminate all that redundancy in Deutsche Boerse and do a lot more business and a lot more trades than they’re doing now.”

11 February 2011

The FBM KLCI index extends losses by 9.47 points or 0.63% on Friday. The Finance Index fell 0.87% to 13519.11 points, the Properties Index dropped 1.07% to 1113.15 points and the Plantation Index down 1.03% to 7809.49 points.

The market traded within a range of 17.22 points between an intra-day high of 1507.66 and a low of 1490.44 during the session. Actively traded stocks include KBUNAI, HWGB, IRIS-WB, SAAG, HWGB-WB, OLYMPIA, RAMUNIA, PALETTE, PCHEM and AXIATA. Trading volume decreased to 1679.87 mil shares worth RM2410.47 mil as compared to Thursday’s 2225.20 mil shares worth RM3127.80 mil.

Leading Movers were CIMB (+8 sen to RM8.10), GENTING (+14 sen to RM10.08), SIME (+6 sen to RM9.24), PPB (+38 sen to RM16.30) and MAXIS (+10 sen to RM5.36). Lagging Movers were PETCHEM (-5 sen to RM6.01), PETGAS (-4 sen to RM11.04) and UMW (-1 sen to RM7.20). Market breadth was negative with 206 gainers as compared to 635 losers.

Source: JF Apex Securities Bhd

Its consolidating..

Palm futures may hit RM4,000

Crude palm oil (CPO) futures on Bursa Malaysia Derivatives may hit the RM4,000 level on speculation of further declines in supply, dealers said.

"Despite the higher prices, we expect prices to move between RM3,800 and RM4,000 levels in the coming week as traders chase tightening supply," senior trader Jim Teh of Interband Group of Companies said.

The Malaysian Palm Oil Board on Thursday reported that palm oil stocks fell by 12.17 per cent to 1.418 million tonnes last month from 1.615 million tonnes in December.

"The current wet weather and floods in Johor and Sabah will affect the production of fresh fruit bunches (FFB)" Teh added.

He said if this scenario continued, he expected FFB production to be at the same level as in 2001 and 2005 when production had been badly affected and decreased by 25 per cent.

This week, the market soared with the benchmark April contract hitting a three-year high of RM3,955 per tonne on Friday on restocking activity despite most key physical buyers from China, India and Pakistan shying away due to higher prices.

"Most of them feel the current price is too high for them to buy and they are waiting for the price to go down to the RM3,500 per tonne level," Teh said.

On a weekly basis, the February contract rose RM59 per tonne to RM3,982 while March increased RM55 to RM3,970.

April advanced RM60 to RM3,955 and May gained RM61 to RM3,906.

Total turnover rose to 130,014 lots from the 30,084 lots recorded during holiday-shortened week last week while open interest increased to 98,830 contracts from 89,398 contracts.

On the physical market, February South increased to RM3,980 from RM3,870 pertonne. -- Bernama

Read more: Palm futures may hit RM4,000 http://www.btimes.com.my/Current_News/BTIMES/articles/20110212121226/Article/index_html#ixzz1DkRRO7WS

Dayang wins RM802mil Petronas Carigali contract

KUALA LUMPUR: Dayang Enterprise Holdings Bhd's (DEHB) wholly owned subsidiary Dayang Enterprise Sdn Bhd (DESB) has received a contract worth RM802mil from Petronas Carigali Sdn Bhd.

In a filing with Bursa Malaysia yesterday, DEHB said the contract involved the provision of topside structural maintenance services in Sarawak, Sabah and Peninsular Malaysia. The contract is from Feb 2, 2011 until Feb 1, 2016.

“DESB estimates the total value of the contract to be about RM802mil. However, it is a call-up contract' made up of work orders, which will be awarded at the discretion of Petronas Carigali during the duration and the values of the work orders are based on the contract schedule of rates,” it said.

DEHB said the contract was expected to “contribute positively” to group earnings and net assets for the financial year ending Dec 31, 2011 and the subsequent financial periods within the duration of the contract.

17 February 2011

The FBM KLCI index gained 2.26 points or 0.15% on Thursday. The Finance Index increased 0.57% to 13638.23 points, the Properties Index dropped 0.10% to 1121.84 points and the Plantation Index down 0.86% to 7863.9 points.

The market traded within a range of 6.45 points between an intra-day high of 1512.85 and a low of 1506.40 during the session. Actively traded stocks include AGLOBAL, SAAG, TANCO, SCOMI, IRIS, OLYMPIA, KBUNAI, SCOMI-WA, JOTECH-WA and TALAM. Trading volume decreased to 1737.64 mil shares worth RM1759.75 mil as compared to Wednesday’s 1878.09 mil shares worth RM2028.93 mil.

Leading Movers were AXIATA (+9 sen to RM5.08), CIMB (+7 sen to RM8.17), PBBANK (+6 sen to RM13.06), AMMB (+8 sen to RM6.32) and MAYBANK (+3 sen to RM8.50). Lagging Movers were IOICORP (-13 sen to RM5.58), GENTING (-6 sen to RM10.12), BAT (-60 sen to RM46.40), UMW (-6 sen to RM7.18) and DIGI (-8 sen to RM25.90). Market breadth was negative with 292 gainers as compared to 536 losers.

Source: JF Apex Securities Bhd

23 February 2011

The FBM KLCI index lost 21.24 points or 1.41% on Thursday. The Finance Index fell 1.07% to 13553.45 points, the Properties Index dropped 3.33% to 1055.02 points and the Plantation Index down 1.84% to 7593 points.

The market traded within a range of 21.52 points between an intra-day high of 1511.39 and a low of 1489.87 during the session. Actively traded stocks include TEJARI-WA, TANCO, KNM, HWGB, HWGB-WB, TEJARI, KBUNAI, TRANMIL, EURO and PCHEM. Trading volume increased to 2003.23 mil shares worth RM2623.48 mil as compared to Wednesday’s 1695.42 mil shares worth RM2046.29 mil.

Leading Movers were PBBANK (+24 sen to RM13.00), GENTING (+30 sen to RM10.08), MISC (+45 sen to RM7.45), CIMB (+12 sen to RM8.07) and AXIATA (+10 sen to RM4.85). Lagging Movers were HLBANK (-8 sen to RM9.37), PETGAS (-2 sen to RM11.28) and BAT (-10 sen to RM46.80). Market breadth was negative with 116 gainers as compared to 863 losers.

Source: JF Apex Securities Bhd

28 February 2011

The FBM KLCI index gained 1.98 points or 0.13% on Monday. The Finance Index increased 0.06% to 13530.18 points, the Properties Index dropped 1.01% to 1053.58 points and the Plantation Index down 0.54% to 7540.71 points.

The market traded within a range of 19.59 points between an intra-day high of 1493.97 and a low of 1474.38 during the session. Actively traded stocks include TANCO, TEJARI-WA, JOTECH, TRANMIL, HWGB, CIMB, AXIATA, RAMUNIA, HWGB-WB and PCHEM. Trading volume decreased to 1163.36 mil shares worth RM2042.21 mil as compared to Friday’s 1390.04 mil shares worth RM1790.03 mil.

Leading Movers were DIGI (+80 sen to RM26.60), TM (+9 sen to RM3.94), MAXIS (+8 sen to RM5.43), BAT (+120 sen to RM48.00) and UMW (+18 sen to RM7.29). Lagging Movers were GENTING (-13 sen to RM9.99), SIME (-8 sen to RM8.96), GAM (-9 sen to RM3.63), MAYBANK (-2 sen to RM8.62) and CIMB (-1 sen to RM8.06). Market breadth was negative with 228 gainers as compared to 626 losers.

Market Commentary

01 March 2011

The FBM KLCI index gained 10.99 points or 0.74% on Tuesday. The Finance Index increased 0.51% to 13599.6 points, the Properties Index up 0.69% to 1060.88 points and the Plantation Index rose 0.25% to 7559.34 points.

The market traded within a range of 9.54 points between an intra-day high of 1502.24 and a low of 1492.70 during the session. Actively traded stocks include SAAG, TANCO, KBUNAI, RAMUNIA, PCHEM, HWGB, TRANMIL, COMPUGT, SIME and HWGB-WB. Trading volume decreased to 1117.51 mil shares worth RM1509.41 mil as compared to Monday's 1163.36 mil shares worth RM2042.21 mil.

Leading Movers were GENTING (+27 sen to RM10.26), AXIATA (+11 sen to RM4.99), SIME (+8 sen to RM9.04), GENM (+11 sen to RM3.42) and AMMB (+12 sen to RM6.33). Lagging Movers were TENAGA (-7 sen to RM6.23), UMW (-4 sen to RM7.25), MAS (-3 sen to RM1.86), BAT (-20 sen to RM47.80) and YTL (-3 sen to RM7.07). Market breadth was negative with 356 gainers as compared to 412 losers.

Source: JF Apex Securities Bhd

Market Commentary

04 March 2011

The FBM KLCI index gained 15.16 points or 1.01% on Friday. The Finance Index increased 0.53% to 13646.92 points, the Properties Index up 1.33% to 1054.44 points and the Plantation Index rose 1.97% to 7743.02 points.

The market traded within a range of 10.13 points between an intra-day high of 1529.41 and a low of 1519.28 during the session. Actively traded stocks include SAAG, TANCO, CIMB, HWGB, KNM, KBUNAI, OLYMPIA, DBE-OR, RAMUNIA-WA and HWGB-WB. Trading volume increased to 1125.38 mil shares worth RM1903.20 mil as compared to Thursday's 1065.52 mil shares worth RM1523.78 mil.

Leading Movers were GENTING (+32 sen to RM10.34), IOICORP (+16 sen to RM5.73), MISC (+31 sen to RM8.07), SIME (+9 sen to RM9.17) and KLK (+60 sen to RM21.10). Lagging Movers were BAT (-64 sen to RM48.10) and HLBANK (-1 sen to RM9.40). Market breadth was positive with 674 gainers as compared to 148 losers.


Source: JF Apex Securities Bhd

3 Mar 2011
KENMARK AND ITS DIRECTORS RECEIVE PUBLIC REPRIMAND; 3 DIRECTORS ALSO FINED TOTAL RM2.5 MILLION

Bursa Malaysia Securities Berhad (Bursa Securities) today publicly reprimanded Kenmark Industrial Co. (M) Berhad (KENMARK) and eight of its directors; and fined three of the eight directors a total of RM2,496,800 for various breaches of the listing requirements.

The public reprimand and fine were for breaches of paragraphs 2.18, 9.03, 9.16, 9.22, 9.23, 9.28, 14.08, 14.09, 15.27 and 16.13 of the Bursa Securities Main Market Listing Requirements (Main Market LR) and paragraph 2.1 of Practice Note 1 (PN1).

Enforcement proceedings were commenced against KENMARK notwithstanding that KENMARK had been de-listed, as the breaches were committed while KENMARK was listed on the Official List of Bursa Securities.

Breaches of paragraphs 2.18, 9.03, 9.16, 9.22, 9.23, 9.28, 14.08, 14.09, 15.27 and 16.13 of the Main Market LR and paragraph 2.1 of PN1
The breaches committed by KENMARK are as follows :-

No.

Breach

1.

Paragraph 9.16(1)(a) and (c) of the Main Market LR in respect of KENMARK's announcements on 31 May 2010 and 1 June 2010 which failed to contain sufficient information so as to enable investors to make informed investment decisions and were not balanced and fair with regards to the Company's affairs, business, financial condition or prospects as follows :-

KENMARK had on 31 May 2010 and 1 June 2010, after being queried by Bursa Securities on the unusual market activities in the Company's securities made the following announcements :-

The Managing Director had not been contactable since 25 May 2010 and attempts to contact the Managing Director and the other Executive Director had failed;
The resignation of key executives i.e. the Deputy General Manager and the Finance & Administration Manager;
Certain suppliers had gone into the Company's premises to recover their stock and raw material on 26 May 2010;
EON Bank Berhad (EON) was notified of the situation and had sealed the Company's premises at Port Klang on 27 May 2010;
A receiver was appointed over the assets of Kenmark Paper Sdn. Bhd. (Kenmark Paper) on 28 May 2010 by EON;
The operations for all the companies in the Group had ceased;
The Company's subsidiaries had defaulted in various credit facilities;
The Company had triggered the prescribed criteria under paragraphs 2.1(f) and (g) of PN17 and classified as a PN17 company; and
The Company was unable to submit the 4 th QR 2010 by the due date.
However, in KENMARK's announcements on 31 May 2010 and 1 June 2010, the following were stated:-

The Independent Directors needed to take advice on the Company's cessation of operations;
The Independent Directors were unable to provide any measures to be taken to address the defaults in view that the Managing Director and the Executive Director were not contactable and the resignation of the Deputy General Manager and the Finance & Administration Manager ;
The Independent Directors were also unable to assess the financial and legal implications in respect of default in payments and unable to provide a solvency declaration as the Independent Directors have no access to the accounting records of the Company. As a result, the Company had triggered the prescribed criteria under paragraph 2.1(f) of PN 17 and classified as a PN17 company;
The Independent Directors announced that the Company triggered the prescribed criteria under paragraph 2.1(g) of PN17 due to the cessation of all its business activities as the key executives of the Company are no longer contactable ;
In respect of the appointment of receiver, the Independent Directors were unable to provide details such as the net book value of the affected assets as the Independent Directors have no access to the latest financials of Kenmark Paper and the Independent Directors were also unable to assess the expected losses arising from the appointment of the receiver ; and
The reasons for failing to issue the 4 th QR 2010 by the due date was because the Managing Director and the Executive Director of the Company were not contactable, the Deputy General Manager and the Finance & Administration Manager of the Company have resigned and the 4 th QR 2010 was not made available to the Independent Directors .
2.

Paragraph 9.16(1)(a) and (b) of the Main Market LR in respect of KENMARK's announcement dated 31 May 2010 which was not factual, clear, unambiguous and accurate and were misleading.

KENMARK had in the announcement dated 31 May 2010 stated that the local authorities have taken control of the Group's operating premises in Vietnam on 25 May 2010 but subsequently clarified on 4 June 2010 that the local authorities were requested to take control of the operating premises to safeguard the assets when some looting occurred during the absence of senior management staff .

3.

Paragraph 9.03(1) of the Main Market LR for failing to make an immediate announcement on :-

the cessation of KENMARK's operations in Vietnam on 25 May 2010; and
the cessation of KENMARK's operations in Malaysia on 27 May 2010.
KENMARK only made an announcement that the Group had ceased operations for all the companies in the Group on 31 May 2010.

4.

Paragraphs 9.03(1) and 9.04(1) of the Main Market LR read together with paragraph 2.1(d) of PN1 for failing to make an immediate announcement of :-

the default in payment of Export-Import Bank of Malaysia Berhad ("EXIM Bank")'s credit facilities as noted from EXIM Bank's letters of demand dated 29 March 2010 ("EXIM Bank's Default"). The credit facilities payable to EXIM Bank as at 31 December 2009 totalling RM59.7 million and USD1.7 million represented approximately 19% of the Company's net assets of RM341.131 million as at 31 March 2009; and
the default in payment of EON's credit facilities on 26 May 2010.
KENMARK only made an announcement on the above defaults in credit facilities on 31 May 2010.

5.

(a) Paragraph 9.16(1)(a) of the Main Market LR in respect of the following press statements made by KENMARK on 4 June 2010 which were not factual, clear, unambiguous, accurate and contain sufficient information so as to enable investors to make informed investment decisions :-
the newly appointed directors ‘saw yesterday that the Company has enough machinery and raw material stock'; and
‘ there are some debts that can be collected'.
Paragraph 9.16(1)(a) and (b) of the Main Market LR in respect of KENMARK's press statement on 4 June 2010 that ‘ the Company has not defaulted on its debts' and announcement dated 4 June 2010 that there was no default on the credit facilities that was granted by EON which were not factual, clear, unambiguous and accurate and were false or misleading.

The above statement and announcement clearly contradicted KENMARK's announcements dated 31 May 2010 and 2 June 2010 on the defaults in credit facilities (which also made specific references to letters of demand from the banks), the letters of demand dated 7 May 2010 from the solicitors of EXIM Bank and the letters of demand dated 28 May 2010 and 1 June 2010 from the solicitors of EON.
Paragraph 9.16(1)(a) and (b) of the Main Market LR in respect of KENMARK's press statement on 4 June 2010 that ‘none of the key management has resigned except for only one person who has retracted her resignation' which were not factual, clear, unambiguous and accurate and were false or misleading.

The statement contradicted KENMARK's announcement on 31 May 2010 that the Deputy General Manager and the Finance & Administration Manager of the Company had resigned and the subsequent confirmation of the Company and the Deputy General Manager to Bursa Securities.
6.

Paragraphs 9.22(1) and 9.23 of the Main Market LR for failing to submit :-

the Company's quarterly report for the financial year ended 31 March 2010 ("4 th QR 2010") on or before 31 May 2010
the Company's quarterly report for the financial year ended 30 June 2010 ("1 st QR 2011") on or before 31 August 2010;
the Company's annual audited accounts for the financial year ended 31 March 2010 ("AAA 2010") on or before 31 July 2010; and
the Company's annual report for the financial year ended 31 March 2010 ("AR 2010") on or before 30 September 2010.
KENMARK only submitted the 4 th QR 2010 on 7 June 2010, after a delay of 5 market days and has yet to issue the 1 st QR 2011, AAA 2010 and AR 2010 as at the date the Company was de-listed on 31 December 2010.

7.

Paragraph 9.28(3) of the Main Market LR for failing to make an announcement to Bursa Securities not later than 3 market days before the due date for submission of the 4 th QR 2010 that the Company will not be able to submit the 4 th QR 2010 by the due date. KENMARK only made an announcement on 31 May 2010 that the Company will not be able to issue the 4 th QR 2010 on 31 May 2010.

8.

Paragraph 15.28 of the Listing Requirements of Bursa Malaysia Securities Berhad ("LR") and paragraph 15.27(1) of the Main Market LR for failing to ensure that there was an internal audit function subsequent to the resignation of the internal auditor on 7 April 2009.


Bursa Securities also found the directors of KENMARK to have committed various breaches of the Main Market LR and imposed the following penalties against them :-
No.

Director

Penalty

1.

Hwang Ding Kuo @ James Hwang
Managing Director

Public Reprimand & Fine of RM1,327,000

2.

Chang Chin-Chuan
Executive Director

Public Reprimand & Fine of RM502,400

3.

Chen Wen-Ling
Non-Independent & Non-Executive Director
Audit Committee Member

Public Reprimand & Fine of RM667,400

4.

Zainabon @ Zainab binti Abu Bakar
Independent & Non-Executive Chairman
Audit Committee Chairman
(Resigned on 3 June 2010)

Public Reprimand

5.

Yeunh Wee Tiong
Independent & Non-Executive Director
Audit Committee Member
(Resigned on 3 June 2010)

Public Reprimand

6.

Dato' Abd Gani bin Yusof
Executive Chairman
(Appointed on 3 June 2010)

Public Reprimand

7.

Ho Soo Woon
Executive Director
(Appointed on 3 June 2010)

Public Reprimand

8.

Woon Wai En
Independent & Non-Executive Director
Audit Committee Chairman
(Appointed on 3 June 2010 and resigned on 5 October 2010)

Public Reprimand

The directors are required to pay the fines strictly within the timeframe stated by Bursa Securities, failing which Bursa Securities will take further action including legal action for recovery of the fines against the directors.

James Hwang was found to have committed the following breaches :-
No.

Breach

Penalty

1.

Paragraph 16.13(a) of the Main Market LR for causing KENMARK's breaches of paragraphs 2(1), (2), (3), (4)(b), (6)(a) and (7) above relating to disclosure.

Public Reprimand & Fine of RM1,000,000

2.

Paragraph 16.13(b) of the Main Market LR for permitting knowingly or where he had reasonable means of obtaining such knowledge KENMARK's breach of paragraphs 9.03(1) and 9.04(1) of the Main Market LR read together with paragraph 2.1(d) of PN1 to make an immediate announcement of the default in payment of EXIM Bank's credit facilities.

Public Reprimand & Fine of RM100,000

3.

Paragraph 16.13(b) of the Main Market LR for permitting knowingly or where he had reasonable means of obtaining such knowledge KENMARK's breach of paragraph 9.23(1) of the Main Market LR to submit the AAA 2010 on or before 31 July 2010 until the appointment of the provisional liquidators on 18 August 2010.

Public Reprimand & Fine of RM12,000

4.

Paragraph 16.11(b) of the LR and paragraph 16.13(b) of the Main Market LR for permitting knowingly or where he had reasonable means of obtaining such knowledge KENMARK's breach of paragraph 15.28 of the LR and paragraph 15.27(1) of the Main Market LR to ensure that there was an internal audit function subsequent to the resignation of the internal auditor on 7 April 2009.

Public Reprimand & Fine of RM100,000

5.

Paragraph 2.18(3) of the Main Market LR for failing to notify Bursa Securities that the solvency declaration dated 30 November 2009 lodged with Bursa Securities to enable the Company to undertake share buy-backs ("the Solvency Declaration") no longer fulfils the requirements of paragraph 2.18(1) of the Main Market LR in the light of the EXIM Bank's Default.

James Hwang had authorised KENMARK to undertake share buy-backs of approximately RM667,199.56 from January 2010 to May 2010 where he knew or was in a position to know that the Solvency Declaration no longer fulfilled the requirement of paragraph 2.18(1) of the Main Market LR in the light of the EXIM Bank's Default.

Public Reprimand & Fine of RM100,000

6.

Paragraphs 14.08(a), (c) and (d) and 14.09 of the Main Market LR for failing to give the requisite notices of James Hwang's dealings in KENMARK's shares from 16 April 2010 to 18 June 2010.

The disposal of a total of 47,099,300 of James Hwang's securities from 16 April 2010 to 18 June 2010 represents approximately 26.4% of the Company's issued and paid-up capital.

James Hwang had ceased to be a substantial shareholder of the Company based on the balance as at 16 June 2010 arising from the disposal of his securities.

Public Reprimand & Fine of RM15,000


Chang Chin-Chuan was found to have committed the following breaches :-
No.

Breach of the LR

Penalty

1.

Paragraph 16.13(b) of the Main Market LR for permitting where he had reasonable means of obtaining such knowledge, KENMARK's breaches of paragraphs 2(1), (2), (3), (4)(b), (6)(a) and (7) above relating to disclosure.

Public Reprimand & Fine of RM500,000

2.

Paragraph 16.13(b) of the Main Market LR for permitting knowingly or where he had reasonable means of obtaining such knowledge, KENMARK's breach of paragraphs 9.03(1) and 9.04(1) of the Main Market LR read together with paragraph 2.1(d) of PN1 to make an immediate announcement of the EXIM Bank's Default.

Public Reprimand

3.

Paragraph 16.13(b) of the Main Market LR for permitting knowingly or where he had reasonable means of obtaining such knowledge KENMARK's breach of paragraph 9.23(1) of the Main Market LR to submit the AAA 2010 on or before 31 July 2010 until the appointment of the provisional liquidators on 18 August 2010.

Public Reprimand & Fine of RM2,400

4.

Paragraph 16.11(b) of the LR and paragraph 16.13(b) of the Main Market LR for permitting knowingly or where he had reasonable means of obtaining such knowledge KENMARK's breach of paragraph 15.28 of the LR and paragraph 15.27(1) of the Main Market LR to ensure that there was an internal audit function subsequent to the resignation of the internal auditor on 7 April 2009.

Public Reprimand


Chen Wen-Ling was found to have committed the following breaches :-
No.

Breach of the LR

Penalty

1.

Paragraph 16.13(b) of the Main Market LR for permitting where she had reasonable means of obtaining such knowledge, KENMARK's breaches of paragraphs 2(1), (4)(b), (6)(a) and (7) above relating to disclosure.

Public Reprimand & Fine of RM500,000

2.

Paragraph 16.13(b) of the Main Market LR for permitting knowingly or where she had reasonable means of obtaining such knowledge, KENMARK's breach of paragraphs 9.03(1) and 9.04(1) of the Main Market LR read together with paragraph 2.1(d) of PN1 to make an immediate announcement of the EXIM Bank's Default.

Public Reprimand & Fine of RM50,000

3.

Paragraph 16.13(b) of the Main Market LR for permitting knowingly or where she had reasonable means of obtaining such knowledge KENMARK's breach of paragraph 9.23(1) of the Main Market LR to submit the AAA 2010 on or before 31 July 2010 until the appointment of the provisional liquidators on 18 August 2010.

Public Reprimand & Fine of RM2,400

4.

Paragraph 16.11(b) of the LR and paragraph 16.13(b) of the Main Market LR for permitting knowingly or where she had reasonable means of obtaining such knowledge KENMARK's breach of paragraph 15.28 of the LR and paragraph 15.27(1) of the Main Market LR to ensure that there was an internal audit function subsequent to the resignation of the internal auditor on 7 April 2009.

Public Reprimand

5.

Paragraph 2.18(3) of the Main Market LR for failing to notify Bursa Securities that the Solvency Declaration no longer fulfils the requirements of paragraph 2.18(1) of the Main Market LR in the light of the EXIM Bank's default.

Chen Wen-LIng had allowed KENMARK to undertake share buy-backs of approximately RM667,199.56 from January 2010 to May 2010 where she knew or was in a position to know that the Solvency Declaration no longer fulfilled the requirement of paragraph 2.18(1) of the Main Market LR in the light of the EXIM Bank's Default.

Public Reprimand & Fine of RM100,000

6.

Paragraphs 14.08(a), (c) and (d) and 14.09 of the Main Market LR for failing to give the requisite notices of Chen Wen-Ling's dealings in KENMARK's shares from 16 April 2010 to 13 July 2010.

The disposal of a total of 21,211,500 Chen Wen-Ling's securities from 16 April 2010 to 13 July 2010 represents approximately 12% of the Company's issued and paid-up capital.

Chen Wen-LIng had ceased to be a substantial shareholder of the Company based on the balance as at 13 July 2010 arising from the disposal of her securities.

Public Reprimand & Fine of RM15,000


The former Independent and Non-Executive Directors, Zainabon @ Zainab binti Abu Bakar and Yeunh Wee Tiong are publicly reprimanded for the following breaches :-
No.

Breach

1.

Paragraph 16.13(b) of the Main Market LR for permitting knowingly or where they had reasonable means of obtaining such knowledge, KENMARK's breach of paragraphs 9.03(1) and 9.04(1) of the Main Market LR read together with paragraph 2.1(d) of PN1 to make an immediate announcement of the EXIM Bank's Default.

They were informed of the letters of demand from EXIM Bank dated 29 March 2010 on 2 April 2010. Their representations on the negotiation with EXIM Bank and the assurance of management that the matter was being resolved do not absolve their obligation to ensure compliance with the requirement of an immediate announcement under paragraph 2.1(d) of PN1 with regards to the clear default in payment to EXIM Bank as stated in EXIM Bank's letters of demand dated 29 March 2010.

2.

Paragraph 16.11(b) of the LR and paragraph 16.13(b) of the Main Market LR for permitting knowingly or where they had reasonable means of obtaining such knowledge KENMARK's breach of paragraph 15.28 of the LR and paragraph 15.27(1) of the Main Market LR to ensure that there is an internal audit function subsequent to the resignation of the internal auditor on 7 April 2009.


The newly appointed directors, Dato' Abd Gani bin Yusof , Ho Soo Woon and Woon Wai En are publicly reprimanded for breach of paragraph 16.13(b) of the Main Market LR for permitting knowingly or where they had reasonable means of obtaining such knowledge, KENMARK's breach of paragraph 9.16(1)(a) and (b) of the Main Market LR in respect of the Company's press statements on 4 June 2010 and announcement on 4 June 2010 as stated at paragraph 2(5) above.
Notwithstanding that they were newly appointed, as directors, they should have exercised reasonable care and diligence. In this regard, they should have ensured that they were fully apprised of the state of operations and financial condition of the Company prior to the press conference on 4 June 2010 and issuing press statements about the Company. As directors, they were under an obligation to ensure all representations about the Company must be factual, clear, unambiguous, accurate, succinct and contain sufficient information to enable investors to make informed investment decisions and were balanced and fair with regards to the Company's state of operations and financial condition pursuant to the listing requirements. This is more so in view of the turmoil and the need for clarity to the market and shareholders on the status of the Company at the material time.

The finding of breaches and imposition of the above penalties on KENMARK and the directors are made pursuant to paragraph 16.19 of the Main Market LR upon completion of due process and after taking into consideration all facts and circumstances of the matter including the materiality and impact of the breaches and in relation to the directors, their awareness, knowledge and respective roles and responsibilities in the Company.
The uncertainty in KENMARK's affairs, business, financial condition or prospects had resulted in a material decrease to the Company's share price which had dropped from RM0.78 on 26 May 2010 to RM0.33 on 27 May 2010, RM0.105 on 31 May 2010 and RM0.06 on 1 June 2010 and effectively wiped out approximately RM128 million of the Company's market value.

It is noted that the entire smooth operation and management of the affairs of the Company was overly dependent on the Managing Director, James Hwang and there was failure to ensure that there were in place the proper and necessary controls and processes including proper internal control and risk management to ensure the continuity of the Company's business and affairs and compliance with the listing requirements in his absence.

Bursa Securities also found that notwithstanding Chen Wen-Ling was designated as a Non-Executive Director, she was in fact involved in the financial management of the Company.

Bursa Securities views the above contraventions seriously as the requirement for companies to make timely and accurate disclosure of material information to enable investors to make informed investment decisions in accordance with the listing requirements is one of the fundamental obligations of companies listed on the Official List of Bursa Securities.

The internal audit function is also fundamental as it serves to ensure an independent and regular review and appraisal of the effectiveness of the risk management, internal control and governance processes within a listed company.

Market Commentary

09 March 2011

The FBM KLCI index gained 6.03 points or 0.40% on Wednesday. The Finance Index increased 0.84% to 13750.33 points, the Properties Index up 0.71% to 1074.78 points and the Plantation Index rose 0.04% to 7745.06 points.

The market traded within a range of 6.51 points between an intra-day high of 1525.69 and a low of 1519.18 during the session. Actively traded stocks include SAAG, PCHEM, HWGB, KBUNAI, TANCO, HWGB-WB, RAMUNIA-WA, DIALOG, MOBIF and RAMUNIA. Trading volume increased to 1501.18 mil shares worth RM2244.30 mil as compared to Tuesday’s 1168.32 mil shares worth RM1747.86 mil.

Leading Movers were CIMB (+14 sen to RM8.15), PETCHEM (+25 sen to RM6.70), AMMB (+16 sen to RM6.46), PBBANK (+4 sen to RM13.16) and AXIATA (+2 sen to RM4.92). Lagging Movers were GENM (-6 sen to RM3.37), GENTING (-6 sen to RM10.32), MISC (-9 sen to RM7.91), KLK (-14 sen to RM20.86) and BAT (-14 sen to RM47.64). Market breadth was positive with 575 gainers as compared to 211 losers.

Source: JF Apex Securities Bhd

*deleted*

Market Commentary

10 March 2011

The FBM KLCI index lost 6.78 points or 0.44% on Thursday. The Finance Index fell 0.22% to 13720.58 points, the Properties Index dropped 0.24% to 1072.2 points and the Plantation Index down 0.29% to 7722.52 points.

The market traded within a range of 8.80 points between an intra-day high of 1524.12 and a low of 1515.32 during the session. Actively traded stocks include SAAG, SUMATEC-WA, PETDAG-CB, BORNOIL-WB, RAMUNIA-WA, BORNOIL, PERISAI, SUMATEC, AXIATA and HWGB. Trading volume decreased to 1090.54 mil shares worth RM1558.88 mil as compared to Wednesday’s 1501.18 mil shares worth RM2244.30 mil.

Leading Movers were MISC (+21 sen to RM7.70), DIGI (+44 sen to RM27.36), TENAGA (+6 sen to RM6.24), BAT (+140 sen to RM46.24) and AXIATA (+3 sen to RM4.89). Lagging Movers were GENM (-5 sen to RM3.42), PETCHEM (-2 sen to RM6.72), MAS (-2 sen to RM1.87), PLUS (-1 sen to RM4.44) and PETDAG (-6 sen to RM14.20). Market breadth was negative with 253 gainers as compared to 483 losers.


Source: JF Apex Securities Bhd

Market Commentary

11 March 2011

The FBM KLCI index lost 21.29 points or 1.40% on Friday. The Finance Index fell 1.26% to 13547.25 points, the Properties Index dropped 1.44% to 1056.81 points and the Plantation Index down 1.44% to 7611.06 points.

The market traded within a range of 14.75 points between an intra-day high of 1508.88 and a low of 1494.13 during the session. Actively traded stocks include PERISAI, SUMATEC-WA, KULIM-CB, PCHEM, KFC-CA, BORNOIL-WB, BORNOIL, TANCO, SCOMI and AXIATA. Trading volume decreased to 1020.13 mil shares worth RM1853.92 mil as compared to Thursday’s 1090.54 mil shares worth RM1558.88 mil.

Lagging Movers were CIMB (-6 sen to RM7.98), AXIATA (-12 sen to RM4.77), GENTING (-26 sen to RM10.00), IOICORP (-10 sen to RM5.61) and MAYBANK (-9 sen to RM8.71) while top Leading Movers were in the negative region as well. Market breadth was negative with 118 gainers as compared to 678 losers.

Source: JF Apex Securities Bhd

Market Commentary

14 March 2011

The FBM KLCI index lost 0.27 points or 0.02% on Monday. The Finance Index fell 0.15% to 13526.82 points, the Properties Index dropped 0.26% to 1054.1 points and the Plantation Index rose 0.70% to 7664.13 points.

The market traded within a range of 19.68 points between an intra-day high of 1500.21 and a low of 1480.53 during the session. Actively traded stocks include BJRTAIL, IRCB-WA, PERISAI, IRCB, PCHEM, SAAG, DIALOG, HWGB, TANCO and JOTECH-WA. Trading volume decreased to 802.36 mil shares worth RM1179.41 mil as compared to Friday’s 1020.13 mil shares worth RM1853.92 mil.

Leading Movers were PETCHEM (+19 sen to RM6.75), IOICORP (+8 sen to RM5.69), MISC (+16 sen to RM7.66), YTL (+11 sen to RM7.24) and SIME (+2 sen to RM9.05). Lagging Movers were TENAGA (-17 sen to RM6.03), CIMB (-6 sen to RM7.92), PETGAS (-28 sen to RM11.24), PBBANK (-4 sen to RM12.96) and YTLPOWR (-2 sen to RM2.27). Market breadth was negative with 308 gainers as compared to 352 losers.

Market Commentary

15 March 2011

The FBM KLCI index lost 11.21 points or 0.75% on Tuesday. The Finance Index fell 0.75% to 13424.73 points, the Properties Index dropped 2.29% to 1029.91 points and the Plantation Index down 1.43% to 7554.78 points.

The market traded within a range of 18.65 points between an intra-day high of 1494.89 and a low of 1476.24 during the session. Actively traded stocks include MPAY, SAAG, IRCB-WA, HWGB-WB, IRCB, TANCO, HWGB, AXIATA, PCHEM and BJRTAIL. Trading volume increased to 1452.29 mil shares worth RM2116.51 mil as compared to Monday’s 802.36 mil shares worth RM1179.41 mil.

Leading Movers were PBBANK (+2 sen to RM12.98), GENM (+1 sen to RM3.33), PETGAS (+2 sen to RM11.26) and BAT (+8 sen to RM45.20). Lagging Movers were IOICORP (-3 sen to RM5.58), MISC (-24 sen to RM7.42), PETCHEM (-16 sen to RM6.59), MAYBANK (-5 sen to RM8.66) and AXIATA (-4 sen to RM4.73). Market breadth was negative with 126 gainers as compared to 812 losers.

Source: JF Apex Securities Bhd

Market Commentary

21 March 2011

The FBM KLCI index gained 4.99 points or 0.33% on Monday. The Finance Index increased 0.22% to 13593.69 points, the Properties Index up 1.29% to 1054.89 points and the Plantation Index down 0.06% to 7675.95 points.

The market traded within a range of 11.59 points between an intra-day high of 1509.93 and a low of 1498.34 during the session. Actively traded stocks include HWGB, HWGB-WB, KBUNAI, SAAG, TANCO, SCOMI, KUB, OLYMPIA, IRIS and RAMUNIA-WB. Trading volume increased to 1194.64 mil shares worth RM1434.65 mil as compared to Friday's 988.92 mil shares worth RM1504.22 mil.

Leading Movers were GENTING (+30 sen to RM10.42), TENAGA (+8 sen to RM6.28), CIMB (+4 sen to RM8.03), MISC (+10 sen to RM7.94) and AXIATA (+2 sen to RM4.79). Lagging Movers were IOICORP (-9 sen to RM5.69), AMMB (-8 sen to RM6.29), YTLPOWR (-2 sen to RM2.29), MAXIS (-2 sen to RM5.38) and RHBCAP (-3 sen to RM7.97). Market breadth was positive with 587 gainers as compared to 200 losers.



Source: JF Apex Securities Bhd

Market Commentary

22 March 2011

The FBM KLCI index gained 0.22 points or 0.01% on Tuesday. The Finance Index increased 0.22% to 13623.64 points, the Properties Index up 0.52% to 1060.38 points and the Plantation Index rose 0.37% to 7704.52 points.

The market traded within a range of 6.69 points between an intra-day high of 1514.20 and a low of 1507.51 during the session. Actively traded stocks include PERISAI, HWGB, SAAG, BORNOIL, HWGB-WB, OLYMPIA, BORNOIL-WB, RAMUNIA-WA, RAMUNIA and DRBHCOM. Trading volume increased to 1434.54 mil shares worth RM1687.92 mil as compared to Monday's 1194.64 mil shares worth RM1434.65 mil.

Leading Movers were SIME (+9 sen to RM9.12), CIMB (+5 sen to RM8.08), BAT (+RM1.02 to RM47.12), GAM (+4 sen to RM3.70) and KLK (+14 sen to RM20.86). Lagging Movers were MISC (-34 sen to RM7.60), TENAGA (-5 sen to RM6.23), AXIATA (-2 sen to RM4.77), DIGI (-16 sen to RM27.50) and PBBANK (-2 sen to RM13.00). Market breadth was positive with 518 gainers as compared to 250 losers.



Source: JF Apex Securities Bhd

Market Commentary

23 March 2011

The FBM KLCI index gained 2.87 points or 0.19% on Wednesday. The Finance Index increased 0.18% to 13648.66 points, the Properties Index up 1.19% to 1073.02 points and the Plantation Index rose 0.54% to 7746.49 points.

The market traded within a range of 7.02 points between an intra-day high of 1511.97 and a low of 1504.95 during the session. Actively traded stocks include PERISAI, MPAY, RAMUNIA-WA, JOTECH-WA, RAMUNIA, SUMATEC-WA, KUB, DIGISTA, JOTECH-WA and HWGB. Trading volume decreased to 1294.52 mil shares worth RM1779.71 mil as compared to Tuesday's 1434.54 mil shares worth RM1687.92 mil.

Leading Movers were MISC (+15 sen to RM7.75), GENM (+6 sen to RM3.48), SIME (+3 sen to RM9.15), MAYBANK (+2 sen to RM8.74) and IOICORP (+2 sen to RM5.72). Lagging Movers were TENAGA (-5 sen to RM6.18), AXIATA (-1 sen to RM4.76), YTL (-5 sen to RM7.16), MAS (-3 sen to RM1.84) and PETCHEM (-1 sen to RM6.73). Market breadth was positive with 515 gainers as compared to 251 losers.



Source: JF Apex Securities Bhd

Market Commentary

29 March 2011

The FBM KLCI index gained 5.84 points or 0.39% on Tuesday. The Finance Index increased 0.27% to 13786.82 points, the Properties Index up 1.20% to 1081.04 points and the Plantation Index rose 0.04% to 7751.93 points.

The market traded within a range of 6.04 points between an intra-day high of 1520.09 and a low of 1514.05 during the session. Actively traded stocks include LEWEKO, NICORP, PERISAI, SEAL, SANBUMI, MIECO, JCY, PCHEM-CA, TAANN-CA and PWORTH. Trading volume increased to 1756.42 mil shares worth RM2182.09 mil as compared to Monday’s 1280.78 mil shares worth RM1613.45 mil.

Leading Movers were PETCHEM (+23 sen to RM7.18), SIME (+9 sen to RM9.19), AXIATA (+4 sen to RM4.76), MAYBANK (+3 sen to RM8.78) and GENTING (+4 sen to RM10.50). Lagging Movers were PBBANK (-2 sen to RM13.02), GENM (-2 sen to RM3.58), TENAGA (-1 sen to RM5.99), MAS (-2 sen to RM1.82) and PETGAS (-2 sen to RM11.38). Market breadth was negative with 269 gainers as compared to 352 losers.

Source: JF Apex Securities Bhd

Market Commentary

08 April 2011

The FBM KLCI index lost 4.44 points or 0.28% on Friday. The Finance Index fell 0.09% to 14251.18 points, the Properties Index up 0.53% to 1125.37 points and the Plantation Index down 0.69% to 7815.52 points.

The market traded within a range of 5.26 points between an intra-day high of 1563.43 and a low of 1558.17 during the session. Actively traded stocks include MAA, LIONCOR, RAMUNIA-WA, MELEWAR, RAMUNIA, DAYA, TATGIAP, HUAAN, TIMECOM and HOVID. Trading volume increased to 1669.37 mil shares worth RM2118.81 mil as compared to Thursday's 1574.67 mil shares worth RM2283.37 mil.

Leading Movers were GENTING (+14 sen to RM11.38), HLBANK (+24 sen to RM10.64), PBBANK (+2 sen to RM13.14), HLFG (+15 sen to RM9.52) and RHBCAP (+5 sen to RM8.70). Lagging Movers were IOICORP (-7 sen to RM5.65), CIMB (-6 sen to RM8.26), TENAGA (-8 sen to RM6.11), AMMB (-9 sen to RM6.57) and KLK (-28 sen to RM21.22). Market breadth was positive with 418 gainers as compared to 405 losers.

Source: JF Apex Securities Bhd

Market Commentary

05 May 2011

The FBM KLCI index lost 7.25 points or 0.47% on Thursday. The Finance Index fell 0.15% to 13955.98 points, the Properties Index dropped 0.09% to 1084.01 points and the Plantation Index down 0.66% to 7541.67 points. The market traded within a range of 6.00 points between an intra-day high of 1526.18 and a low of 1520.18 during the session. Actively traded stocks include BOILERM, DBE, HUBLINE, MAA, PCHEM, FOCUS, KBUNAI, RAMUNIA, HUBLINE-WA and RAMUNIA-WA. Trading volume decreased to 859.21 mil shares worth RM1268.56 mil as compared to Wednesday’s 1202.07 mil shares worth RM1510.60 mil.

Leading Movers were PETDAG (+48 sen to RM15.64), PBBANK (+4 sen to RM13.10), HLBANK (+10 sen to RM10.40), UMW (+3 sen to RM7.11) and PLUS (+1 sen to RM4.48). Lagging Movers were IOICORP (-5 sen to RM5.28), PETCHEM (-10 sen to RM7.08), DIGI (-40 sen to RM29.20), CIMB (-4 sen to RM8.16) and GENTING (-8 sen to RM11.22). Market breadth was negative with 351 gainers as compared to 354 losers.

Source: JF Apex Securities Bhd

Market Commentary

12 May 2011

The FBM KLCI index lost 3.74 points or 0.24% on Thursday. The Finance Index fell 0.12% to 14234.49 points, the Properties Index dropped 0.04% to 1089.16 points and the Plantation Index down 0.21% to 7564.67 points.

The market traded within a range of 3.61 points between an intra-day high of 1535.71 and a low of 1532.10 during the session. Actively traded stocks include DBE, PJI, PJI-WA, DAYANG-CA, AXIATA, DIALOG, ECM, RAMUNIA-WA, E&O and MAA. Trading volume decreased to 919.61 mil shares worth RM1346.63 mil as compared to Wednesday’s 1046.01 mil shares worth RM1628.53 mil.

Leading Movers were AXIATA (+3 sen to RM4.97), SIME (+2 sen to RM9.07), TM (+3 sen to RM4.16), RHBCAP (+13 sen to RM9.00) and YTL (+1 sen to RM1.60). Lagging Movers were GENTING (-16 sen to RM11.20), IOICORP (-5 sen to RM5.26), TENAGA (-3 sen to RM5.99), MAYBANK (-3 sen to RM8.74) and MISC (-9 sen to RM7.22). Market breadth was negative with 304 gainers as compared to 448 losers.


Source: JF Apex Securities Bhd

Market Commentary

19 May 2011

The FBM KLCI index gained 2.75 points or 0.18% on Thursday. The Finance Index increased 0.20% to 14386.02 points, the Properties Index dropped 0.09% to 1093.45 points and the Plantation Index rose 0.83% to 7709.04 points.

The market traded within a range of 8.65 points between an intra-day high of 1550.62 and a low of 1541.97 during the session. Actively traded stocks include INGENS, PJI-WA, PJI, AMEDIA, IJACOBS, DBE, GPERAK, BENALEC, DBE-WA and AXIATA. Trading volume decreased to 890.85 mil shares worth RM1485.49 mil as compared to Wednesday’s 993.71 mil shares worth RM1912.27 mil.

Leading Movers were TENAGA (+13 sen to RM6.28), GENM (+7 sen to RM3.62), GENTING (+6 sen to RM11.24), KLK (+30 sen to RM21.80) and IOICORP (+3 sen to RM5.34). Lagging Movers were DIGI (-5 sen to RM28.82), PETDAG (-40 sen to RM15.40), PPB (-20 sen to RM17.30), MAXIS (-4 sen to RM5.43) and HLBANK (-10 sen to RM12.04). Market breadth was neutral with 371 gainers and 371 losers.



Source: JF Apex Securities Bhd

Market Commentary

08 July 2011

The FBM KLCI index gained 4.50 points or 0.28% on Friday. The Finance Index increased 0.07% to 15038.74 points, the Properties Index dropped 0.20% to 1096.17 points and the Plantation Index down 0.05% to 7909.98 points.

The market traded within a range of 9.80 points between an intra-day high of 1594.74 and a low of 1584.94 during the session. Actively traded stocks include MSM-CB, MALTON-WB, TIME-OS, MSM-CA, DVM, PCHEM, AIRASIA, CIMB, TIMECOM and SBCCORP. Trading volume decreased to 810.53 mil shares worth RM1573.71 mil as compared to Thursday’s 1274.60 mil shares worth RM2067.73 mil.

Leading Movers were PETGAS (+52 sen to RM14.00), MISC (+20 sen to RM7.70), GENTING (+12 sen to RM11.22), AXIATA (+3 sen to RM5.05) and YTLPOWR (+4 sen to RM2.20). Lagging Movers were PETCHEM (-8 sen to RM7.11), SIME (-4 sen to RM9.19), GAM (-2 sen to RM3.82), MMHE (-12 sen to RM8.42) and PPB (-8 sen to RM17.66). Market breadth was negative with 287 gainers as compared to 390 losers.

Source: JF Apex Securities Bhd

Market Commentary

12 August 2011

The FBM KLCI index gained 7.21 points or 0.49% on Friday. The Finance Index increased 0.38% to 14072.74 points, the Properties Index up 1.59% to 980.47 points and the Plantation Index rose 0.31% to 7208.45 points.

The market traded within a range of 4.87 points between an intra-day high of 1488.29 and a low of 1483.42 during the session. Actively traded stocks include TAKASO-OR, DVM, AIRASIA, DUTALND, DUTALND-WA, AXIATA, MAS, DBE, SANICHI and HWGB. Trading volume increased to 1209.83 mil shares worth RM1874.75 mil as compared to Thursday’s 1143.85 mil shares worth RM2299.50 mil.

Leading Movers were PETCHEM (+18 sen to RM6.33), CIMB (+7 sen to RM8.10), PBBANK (+10 sen to RM12.92), TENAGA (+5 sen to RM5.91) and MISC (+10 sen to RM6.90). Lagging Movers were PETGAS (-16 sen to RM13.02), GENM (-4 sen to RM3.47), BAT (-30 sen to RM43.62), HLFG (-10 sen to RM11.84) and TM (-1 sen to RM4.00). Market breadth was positive with 536 gainers as compared to 256 losers.



Source: JF Apex Securities Bhd