Technical | Fundamental Analysis Discussion Stocks Listed In Bursa

Friday, April 9, 2010

KLCI, Bina Puri, Jaks, LonBisc, TPC

DJ MARKET TALK: KLCI May Rise; Banks May Lead; 1329-1340 Tipped

0025 GMT [Dow Jones] KLCI may rise slightly, tracking gains in U.S. stocks overnight; benchmark index ended 0.9% lower at 1332.93 yesterday. "Following yesterday's drop, investors may do some bargain-hunting coming in today, given the positive long-term outlook for the market and the local economy. But with the weekend coming, the market will probably remain within a tight range," dealer says; immediate support pegged at 1329, with resistance at 1340. Interest may be centered on banking stocks, particularly investment banking leader CIMB (1023.KU), amid an increase in corporate finance activities after state oil company Petronas announced plans to list two units, which had combined revenue of MYR17 billion in FY09.

DJ MARKET TALK: Bina Puri May Rise; Thai Unit Gets THB63M Job


0012 GMT [Dow Jones] Bina Puri Holdings (5982.KU) may rise to MYR1.18 (yesterday's intraday high) vs yesterday's close at MYR1.16 (down 0.9%), says dealer; this after company says its Thai unit gets THB62.8 million contract from Melewar Integrated Engineering for design, building of warehouse including foundation, RC & steel structure, architecture, M&E, associated external works for Sime Ice Co.'s cold room facility at Rayong, Thailand. Bina Puri says award will boost earnings; "with the award, the group's current order book stands at MYR1.80 billion," it adds. Dealer says although contract not large (only about MYR6.3 million), but hopes of stronger flow of building contracts had been boosting shares of late; "this award may start the ball rolling again."

DJ MARKET TALK: Jaks May Rise; To Build 2 Vietnam Power Plants

0019 GMT [Dow Jones] Jaks Resources (4723.KU) may rise to MYR0.925 (yesterday's intraday high), then later psychological MYR1.00 vs yesterday's close at MYR0.905 (+0.6%), says trader; this after water-management construction firm says signed $2 billion deal with Vietnam authorities to build two 600-megawatt coal-fired power plants. Says projects to be developed under "build-operate-transfer" follows signing of 25-year power purchase agreement with Vietnam Electricity. Work on plants will begin in 4Q, with the first ready for commercial operation in 4Q 2014; second by 2Q 2015. Trader says agreement "significant" for Jaks for a number of reasons; "this is a major overseas project and it also provides the group with recurring rather than project-based income." (

DJ MARKET TALK: TPC Plus Likely Flat; LonBisc Offer Unattractive


0030 GMT [Dow Jones] TPC Plus (7176.KU) likely flat vs yesterday's close at MYR0.295 (unchanged), says dealer, following buy out offer from major shareholder London Biscuit (7126.KU) for remaining shares in TPC. London Biscuit says in stock exchange filing it is making offer at MYR0.30/share for remaining 54.4 million shares (or 68%) of TPC it doesn't own, values entire offer at MYR16.3 million to be satisfied in cash. Adds, intends to keep the listing status of TPC after exercise. Dealer says premium of MYR0.005 over market "not attractive"; "TPC's share price has been hovering around 30 sen for about 2 months... this offer puts a price floor of sorts, but it will not excite investors."

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