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8 October 2015
US markets climbed overnight lifted by healthcare and energy stocks. Meanwhile, European stocks ended slightly higher after gains by automakers and miners.

On the local market, the FBM KLCI rallied 26.74 points to 1689.25 points following higher oil price and ringgit. Following the positive performance in the US, we expect the KLCI to extend its gains and test the resistance of 1700 points.

Among stocks to watch are: AirAsia after its founders denied news of privatization; KNM after clinching a RM580 million contract for the construction and commissioning of a waste-to-energy facility in UK; CBIP and Benalec after announcing their respective dividends; GPA after its subsidiary has allegedly breached its contract; Perisai planing to raise RM37 million via private placement and Harvest Court securing a RM39.4 million contract on a residential development in Gombak.
7 October 2015
US markets were mixed as the bulls took a breather with investors looking our for this month's reporting season. Meanwhile, European stocks rallied after oil prices climbed above US$50 per barrel and gains in miners and auto companies.

On the local bourse, the FBM KLCI gained 14.92 points to 1662.51 points. Following the mixed performance in the US, we expect the KLCI to consolidate below the resistance of 1670 points.

Stocks to watch are: a) MyEG, as the Malaysia Competition Commission (MyCC) has proposed a financial penalty of RM307,200 on the group for abusing its dominant position in the provision and management of online foreign workers' permit renewal applications, by selling mandatory insurance policies; b) AirAsia, the group is taking full control and ownership of Tune Money Sdn Bhd, which would improve the low-cost carrier's top line and ancillary revenue. Meanwhile, the group also given green light by the Japanese government to re-enter the market; c) Opcom, the group has secured a RM67.8 million award by Telekom Malaysia Bhd to supply, deliver, install, test and commission the Line Plant Network project, from Oct 1 this year to Sept 30, 2018.
6 October 2015
US markets surged over 1.5% after Friday's weaker jobs data could prompt the Federal Reserve to postpone rate hike to next year. Similarly, European stocks rallied over 2.5% as US' employment report could see the Fed keep the record low interest rate for the rest of the year.

On the local market, the FBM KLCI jumped 18.79 points to 1647.59 points. Following the rally in Wall Street, we expect the KLCI to test its critical resistance of 1670 points.

Stocks to watch are: a) YTL Power, after TNB announced that the group is no longer exporting electricity to the grid following both companies' power purchase agreement (PPA) expired on Sept 30 (which was signed on March 31, 1993); b) Mudajaya, the group has been awarded a RM44 million contract from Siemens Malaysia Sdn Bhd for additional scope of works in relation to the main civil works at the Pengerang Cogen Power Plant in Johor; c) WCT, the group has received a Tun Razak Exchange (TRX) contract worth RM70.4 million from 1MDB; d) Yee Lee, the group expects its revenue derived from its beverage segment to double, with the addition of its exclusive right to distribute Red Bull energy drinks in Malaysia.
5 October 2015
US markets surged over 1% on Friday to reverse intraday losses following higher oil price and weaker jobs data. Similarly, European stocks posted gains as lower US employment report could prompt the Federal Reserve to delay interest rate hike.

On the local market, the FBM KLCI declined 5.13 points to 1628 points. Following the positive performance in the US, we expect the KLCI to test its resistance at 1640 points.

Stocks to watch are: a) Lay Hong, said it is in talks in relation to a possible JV project to invest in an integrated livestock business overseas, it also intended to acquire Takaso SC (Thailand) Ltd, a unit of Takaso Resources Bhd at an indicative price of RM9million, cash; b) Hubline, its wholly-owned subsidiary, Hub Shipping Sdn Bhd, has been served with a winding-up petition by Textainer Equipment Mangament Ltd over claims amounting to RM16.47million; c) Perwaja Holdings and Kinsteel, as both of their subsidiaries and Kinsteel itself have been filed a suit by Lonpac Insurance Bhd over RM2.72 million in outstanding insurance premium; d) Axiata, it’s unit is buying a 75% stake in Digicel Asian Holdings Pte Ltd based on enterprise value of US$221mil on cash free and debt free basis.
2 October 2015
Market Thoughts

US markets ended mixed following a lower manufacturing data in Spain and China as well as declines in Apple and biotech stocks. Similarly, European stocks were also mixed after being weighed down by telecom stocks.

Back home, the FBM KLCI rose 12.89 points to 1633.93 points. Following the mixed performance in the US, we expect the KLCI to hover below the resistance of 1640 points.

Stocks to watch are: a) Media Prima, the group is buying radio services company Copyright Laureate Sdn Bhd, for RM20 million; b) Mega First Corp, the group has signed a 25-year power purchase agreement (PPA) with Laos' state-own utility Electricité Du Laos (EDL) for Don Sahong Hydropower Project on a take-or-pay basis; c) MBSB and DRB-Hicom, the former will commence its merger talks with the latter in relation to the proposed merger between MBSB and Bank Muamalat (70% owned by DRB-Hicom); d) ManagePay Systems, the group has been appointed as the managing operator of the local retail chains' electronic wallet (e-wallet) and cash-back loyalty card programme; e) Topglove, the group is currently in talks with three to four glove manufacturers for possible M&A.
29 September 2015
US market plunged overnight following uncertainties on economic growth and interest rate hike. Similarly, European stocks also tumbled after being fueled by concerns on Volkswagen and Glencore.

On the local market, the FBM KLCI lost 6.58 points to 1608.43 points. Following the bearish performance in the US, we expect the KLCI to decline and test its support of 1600 points.

Stocks to watch are: a) Ho Hup, the group has clinched a RM21.6 million subcontract for soil improvement work at the Refinery and Petrochemical Integrated Development (RAPID) project in Pengerang, Johor; b) MMC, the group's wholly-owned subsidiary, Senai Airport City Sdn Bhd (SACSB), has leased 24.75 acres of its industrial land to Japanese food products supplier Fuji Oil Asia Pte Ltd, for RM53.9 million.
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Unit Price As At: 24-08-2015
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