Malaysia Market Highlights - 27 April, 2015

• Malaysia share prices opened higher on Monday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 1.3 points to 1863.93

• The positive trend in Asian stock markets boosted sentiment on Bursa Malaysia with share prices opening higher this morning.

• The ringgit opened higher against the US dollar on strong buying support for the local unit. the local unit was quoted at 3.5675/5705 versus the greenback compared with 3.5790/5830

• Bina Puri Holdings Bhd's wholly owned unit, Bina Puri Sdn Bhd, has clinched a RM123.32 million Sabah Department of Works (JKR) contract for interior desiign works for Blocks A and B of the state administrative complex in Kota Kinabalu.

• MARC has affirmed Malaysia's sovereign rating of AAA with a stable outlook based on country's ability to meet its local currency obligations.

• Malton Bhd has bagged a RM703 million construction contract for the proposed Pavilion Damansara Heights project in Pusat Bandar Damansara, Kuala Lumpur.

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Malaysia Stock Market Picks - 10 April, 2015

• Malaysia share prices opened lower on Friday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index down 2.84 points to 1,846.55. 

• The ringgit opened lower against the US dollar today as the greenback remained firm to hover at three-week high against major currencies. 

• Kedah-based Bina Darulaman Bhd (BDB) has lined up RM350 million worth of property launches this year and is bidding for RM100 million worth of construction projects, said its group managing director. 

• Puncak Niaga Holdings Bhd (PNHB) has given Selangor state's unit Pengurusan Air Selangor Sdn Bhd (Air Selangor) a fourth extension to fulfill the conditions necessary to see the takeover of the federal government of its first Selangor water asset. 

• Malaysian Resources Corp Bhd (MRCB) plans to build a mixed development with an estimated gross development value of between RM1.2 billion and RM1.6 billion on the 1.87 acres it recently acquired from the German Embassy. 

• Solid Automotive Bhd, an automotive aftermarket parts and components trading and distribution group, is planning to undertake a private placement of up to 10% of its issued share capital to repay bank borrowings and for working capital.

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Malaysia News Updates - 07 April, 2015

• Share prices on Bursa Malaysia opened higher on continued buying support in selected plantation and finance counters, the benchmark index stood at 1,849.32 points, up 6.38 points, after opening 0.24 of a point points better at 1,843.18 points. Gainers led losers 174 to 70 while 164 counters were unchanged, 1,388 untraded and 19 others suspended.

• The ringgit ended sharply higher against the US dollar in tandem with most emerging Asian currencies on expectation that the US Federal Reserve would postpone increasing interest rates.

• Shell Malaysia has started construction of the largest upstream oil and gas (O&G) laboratory in Sarawak for deepwater exploration and production activities. It will be operational by end-2016.

                                   

• Tenaga Nasional Bhd (TNB) shares on Bursa Malaysia rose this morning on news of an expected increase in electricity demand, moving forward.

• Homegrown condom manufacturer, Karex Bhd shares’ on Bursa Malaysia rose in early trade after the company announced that it is eyeing two to three acquisitions this year.

• Newly established companies or existing companies that expand operations into less developed areas will be eligible for 100 per cent income tax exemption for up to 15 years.

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Malaysia Stock News Updates - 02 April, 2015

• The ringgit opened higher against the US dollar in the early session today on renewed buying interest.

• Malaysia share prices opened higher on Thursday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 0.75 points to 1,827.06

• The Ministry of Finance (MoF) has aborted plans to put 1Malaysia Development Bhd's energy arm up for sale and will proceed with Edra Global Energy Bhd (Edra) initial public offering (IPO).

• Westports Holdings Bhd said there were no disruptions to the import process flow at the port yesterday with the implementation of the Goods and Services Tax (GST).

• Maybank Investment Bank Bhd (Maybank IB) and CIMB Investment Bank Bhd (CIMB) have together entered into an agreement with Cititower Sdn Bhd for a 20-year RM3.2 billion syndicated Islamic term financing (Syndicated ITF).

• Sarawak-based Zecon Bhd has entered an agreement with PR1MA Corp Malaysia to develop PR1MA homes and retail units on a 54 acre area in Salak land district, Kuching.

• Brahim's Holdings Bhd's 70%-owned subsidiary Brahim's Airline Catering Sdn Bhd  has entered into an extension agreement with Malaysian Airline System Bhd  to facilitate negotiations for a new catering agreement  to be executed between the parties.

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KLCI Technical Analysis - 01 April, 2015

Market Review for KLCI

• Shares on Bursa Malaysia closed on a firm note today as bargain-hunters triumphed over profit-takers.

• The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) ended at 1,830.78 points at the close, up 8.95 points, after hovering between 1,825.3 points and 1,832.85 points throughout the day. 

• The local market's underlying upswing was still intact as the key index managed to settle above its multi-month resistance level of 1,814 points.

• The Industrial Index added 14.87 points to 3,354.96, the Plantation Index gained 58.35 points to 7,801.98 and the Finance Index surged 106.42 points to 16,234.77.

Market Forecast for KLCI

• Share prices on Bursa Malaysia opened higher today. It is anticipated that market could be bullish this week.

Technical Indicators

• RSI stood below the center line at 63.288 with its CCI at 137.321.

•  Difference line of MACD performed at 6.517 crossed its signal line which performed at 3.616.

Economic factors

• Malaysia share prices opened higher on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 8.29 points to 1,830.12.

• The ringgit rebounded to close stronger against the US dollar and other major currencies today on technical consolidation.

• The government has no plan to peg the ringgit against the US dollar to address its depreciation.

• Tenaga Nasional Bhd (TNB) takeover offer for Integrax Bhd has crossed the 50% threshold, making its revised offer at RM3.25 a piece in the port operator unconditional.

• Astro Malaysia Holdings Bhd, which saw its earnings before interest, taxes, depreciation and amortisation (ebitda) and revenue increase 12% and 9% respectively for the financial year ended Jan 31, 2015 (FY15), expects to see a similar trajectory in FY16.

• XOX Bhd, the only listed mobile virtual network operator in Malaysia, aims to increase its subscriber base by 800,000 more prepaid users within six months from the 500,000 active subscribers it currently has.

• The Chinese business community is more pessimistic about the economic outlook for 2015 and 2016, but expects to see an improvement in 2017, according to a survey by the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM).

• Amcorp Properties Bhd has entered into a joint venture with Temasek, Hotel Properties Ltd and UK developer, Native Land to jointly develop Sampson House and Ludgate House property in London's South Bank, along River Thames into a mixed development with a gross development value of RM5.5 billion.

• Public Bank Bhd is targeting a gross loan growth of 9-10% for 2015, ahead of the projected industry loan growth of below 8%.

• Shareholders of MMC Corp Bhd unanimously approved the listing of its power unit Malakoff Corp Bhd at an EGM yesterday, paving the way for what could be the country's largest initial public offering (IPO) in May this year.

• Credit Suisse Group has acquired a substantial 5% stake in Sona Petroleum Bhd, the country' largest special purpose acquisition company.

• The Netting of Financial Agreements Act 2015, which provides a legal framework governing close-out netting for financial transactions in Malaysia, came into force yesterday.

• Boustead Heavy Industries Corporation Bhd (BHIC) has secured an additional contract from the federal government in relation to the in-service support (ISS) for two units of the Scorpene submarines for the navy worth RM531.2 million.

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