Showing posts with label SUMATEC (1201). Show all posts
Showing posts with label SUMATEC (1201). Show all posts
Monday, 15 December 2014
Friday, 9 March 2012
Market closes mixed on profit taking
KUALA LUMPUR (March 9): Share prices on Bursa Malaysia closed mixed on Friday as traders firmed their position ahead of the weekend, dealers said.
The FBM KLCI inched up 0.64 of a point to close at 1,579 after having moved between 1,577.23 and 1,582.Decliners led advancers by 388 to 369 while 344 counters closed unchanged.
A dealer said although strong interest from foreign investors was seen in the market, profit taking had offset earlier gains.
The Finance Index lost 12.46 points to 14,104, the INDUSTRIAL INDEX [] was down 7.11 points to 2,864.1 but the PLANTATION [] Index rose 16.6 points to 8,629.54.
The FBM Emas Index added 3.74 points to 10,899.05, FBM Ace Index was down 6.3 points to 4,660.87 and the FBMT100 added 2.18 points to 10,684.46.
Total volume amounted to 1.306 billion shares valued at RM1.367 billion compared with 1.769 billion shares valued at RM1.763 billion registered on Thursday.
Actively traded stocks included Naim Indah which added 1.5 sen to 64.5 sen, Lee Swee Kiat which increased three sen to 19.5 sen and Key West Global which gained 2.5 sen to 22 sen.
Sumatec lost half a sen to 28.5 sen and Sumatec-Warr shed one sen to 15.5 sen.
Among heavyweights, Maybank gained two sen to RM8.74, CIMB rose eight sen to RM7.34, Sime Darby and Petronas Chemicals earned one sen each to RM9.85 and RM6.84 respectively and Tenaga gathered 13 sen to RM6.39. - Bernama
The FBM KLCI inched up 0.64 of a point to close at 1,579 after having moved between 1,577.23 and 1,582.Decliners led advancers by 388 to 369 while 344 counters closed unchanged.
A dealer said although strong interest from foreign investors was seen in the market, profit taking had offset earlier gains.
The Finance Index lost 12.46 points to 14,104, the INDUSTRIAL INDEX [] was down 7.11 points to 2,864.1 but the PLANTATION [] Index rose 16.6 points to 8,629.54.
The FBM Emas Index added 3.74 points to 10,899.05, FBM Ace Index was down 6.3 points to 4,660.87 and the FBMT100 added 2.18 points to 10,684.46.
Total volume amounted to 1.306 billion shares valued at RM1.367 billion compared with 1.769 billion shares valued at RM1.763 billion registered on Thursday.
Actively traded stocks included Naim Indah which added 1.5 sen to 64.5 sen, Lee Swee Kiat which increased three sen to 19.5 sen and Key West Global which gained 2.5 sen to 22 sen.
Sumatec lost half a sen to 28.5 sen and Sumatec-Warr shed one sen to 15.5 sen.
Among heavyweights, Maybank gained two sen to RM8.74, CIMB rose eight sen to RM7.34, Sime Darby and Petronas Chemicals earned one sen each to RM9.85 and RM6.84 respectively and Tenaga gathered 13 sen to RM6.39. - Bernama
Thursday, 8 March 2012
Sumatec inks joint investment agreement for Kazakh oil and gas field
KUALA LUMPUR (March 8): SUMATEC RESOURCES BHD [] had sealed a joint investment agreement to extract hydrocarbon in the Rakushechnoye oil and gas field (Shelly oil field) in Kazakhstan.
It said on Thursday the other parties which had signed the agreement were Markmore Energy (Labuan) Ltd and CaspiOilGas LLP (COG).
The scope of work for Sumatec would all the operations related to the production of hydrocarbon from the Shelly oil field for and on behalf of COG.
It was also tasked to complete all operations to develop the Shelly Oil Field within the period from the date of the agreement up to Aug 25, 2025.
Under the agreement, Sumatec would pay MELL a non-recoverable signature bonus of US$10 million by April 30, 2012 or any such time as may be mutually agreed by the parties.
Sumatec would also pay to MELL a non recoverable costs reimbursement of US$85 million.
It would also have to place with COG a refundable performance deposit of US$40 million for the due and satisfactory performance of the petroleum operations.
It would also have to pay oil royalty to COG at US$5 per barrel of the crude oil production and shall be offset against the performance deposit. The royalty for gas/natural Gas shall be mutually determined by the parties as soon as it becomes practicable.
As part of the agreement, MELL would provide Sumatec an advance for capital cost up to US$60 million to develop the Shelly oil field.
The distribution of profit between COG and Sumatec would be when the net production reaching a threshold of two million barrels within two years from the payment date.
Under the agreement, Sumatec would be entitled to 100% of the profit for the first and second year and by the third year, it would be on a 50:50 basis.
“The company will fund the payments required under the JIA and working capital for the development of the Shelly oil field from the proceeds of the fund raising exercise envisaged under the proposed regularisation plan,” it said.
It said on Thursday the other parties which had signed the agreement were Markmore Energy (Labuan) Ltd and CaspiOilGas LLP (COG).
The scope of work for Sumatec would all the operations related to the production of hydrocarbon from the Shelly oil field for and on behalf of COG.
It was also tasked to complete all operations to develop the Shelly Oil Field within the period from the date of the agreement up to Aug 25, 2025.
Under the agreement, Sumatec would pay MELL a non-recoverable signature bonus of US$10 million by April 30, 2012 or any such time as may be mutually agreed by the parties.
Sumatec would also pay to MELL a non recoverable costs reimbursement of US$85 million.
It would also have to place with COG a refundable performance deposit of US$40 million for the due and satisfactory performance of the petroleum operations.
It would also have to pay oil royalty to COG at US$5 per barrel of the crude oil production and shall be offset against the performance deposit. The royalty for gas/natural Gas shall be mutually determined by the parties as soon as it becomes practicable.
As part of the agreement, MELL would provide Sumatec an advance for capital cost up to US$60 million to develop the Shelly oil field.
The distribution of profit between COG and Sumatec would be when the net production reaching a threshold of two million barrels within two years from the payment date.
Under the agreement, Sumatec would be entitled to 100% of the profit for the first and second year and by the third year, it would be on a 50:50 basis.
“The company will fund the payments required under the JIA and working capital for the development of the Shelly oil field from the proceeds of the fund raising exercise envisaged under the proposed regularisation plan,” it said.
Wednesday, 30 November 2011
PSC could turn Sumatec around
KUALA LUMPUR: Sumatec Resources Bhd has entered into a framework agreement with Markmore Energy (Labuan) Ltd (MELL) and CaspiOilGas LLP (COG) for the award of a production sharing contract (PSC) for the Shelly oil field in Kazakhstan.
COG, a wholly-owned subsidiary of MELL, is the concession holder and operator of the Shelly oil field, while Sumatec is seeking the mandate to develop and extract oil at the field.
Sumatec managing director James Chan told The Edge Financial Daily: “This is a good contract and should be able to get Sumatec out of PN17 in about a year.” Sumatec has been in the PN17 category since April.
The proposed PSC is a 50:50 profit-sharing venture between Sumatec and COG for the 354.45-sq km Shelly oil field, in which COG has the concession until Aug 25, 2025 to explore oil.
Interestingly, MELL is a wholly-owned subsidiary of Markmore Sdn Bhd, the vehicle of corporate player Tan Sri Halim Saad, who was among the most prominent figures in corporate Malaysia in the late 90s.
Halim told The Edge Financial Daily in a phone conversation: “Sumatec has the expertise … so why not,” when asked about the selection of the ailing company to partner his oil and gas outfit Markmore.
Judging by initial reports, Sumatec’s prospects seem bright.
According to SRK Consulting (Australasia) Pty Ltd’s assessment of the Shelly oil field reserves, the field contains “Proved plus Probable” (2P) hydrocarbon reserves of 122.3 million barrels of oil equivalent.
The majority of these reserves are located within a 33-sq km area in the northern part of the field which makes up 9% of the total field size.
It seems there is a huge upside potential in the largely unexplored southern area.
“It (the southern area) is close to the Shell concession and is not fully explored yet. It has the potential for more exploitable and recoverable oil,” Chan said.
The framework stipulates that for the first two years, Sumatec will enjoy 100% of the profits but will also bear all the related costs, including infrastructure expenditure such as pipes, oil and gas treatment plants, and wells. After that, the profits will be shared equally between Sumatec and COG.
According to a source who spoke on condition of anonymity, there are approximately 47 wells drilled in the Shelly oil field and out of which, 14 are operational and producing oil. The source added that production from the field is slated to reach 10,000 barrels per day by the end of the second year and it estimated very good margins for Sumatec.
Chan said if the deal goes through, Sumatec will take over the operations from the present management and build up the oil and gas infrastructure.
Oil and gas players estimate the PSC to set Sumatec back by more than US$100 million (RM318 million), a hefty sum for the PN17 company.
Sumatec’s proposed PSC is conditional to its regularisation exercise being given the green light by shareholders.
An EGM is likely to be called to get shareholders’ approval for the proposals which include a par value reduction, issuance of new shares, a rights issue and debt restructuring.
The par value reduction will see the cancellation of 17.5 sen or 50% off the par value of the 214.36 million 35 sen shares.
Other proposals include raising RM15 million via the issue of new shares to yet-to-be disclosed investors and a renounceable rights issue worth RM445 million which the new investors will be entitled to.
Sumatec also proposed the issuance of RM32.5 million worth of shares to unsecured creditors who hold approximately RM65 million in debt.
The company’s share price which has been trading below the 10 sen band since late May saw a sudden surge in volume in the beginning of this month. Sumatec’s stock rocketed 460% to close at 28 sen yesterday from a low of five sen on Aug 11.
This article appeared in The Edge Financial Daily, November 30, 2011.
COG, a wholly-owned subsidiary of MELL, is the concession holder and operator of the Shelly oil field, while Sumatec is seeking the mandate to develop and extract oil at the field.
Sumatec managing director James Chan told The Edge Financial Daily: “This is a good contract and should be able to get Sumatec out of PN17 in about a year.” Sumatec has been in the PN17 category since April.
The proposed PSC is a 50:50 profit-sharing venture between Sumatec and COG for the 354.45-sq km Shelly oil field, in which COG has the concession until Aug 25, 2025 to explore oil.
Interestingly, MELL is a wholly-owned subsidiary of Markmore Sdn Bhd, the vehicle of corporate player Tan Sri Halim Saad, who was among the most prominent figures in corporate Malaysia in the late 90s.
Halim told The Edge Financial Daily in a phone conversation: “Sumatec has the expertise … so why not,” when asked about the selection of the ailing company to partner his oil and gas outfit Markmore.
Judging by initial reports, Sumatec’s prospects seem bright.
According to SRK Consulting (Australasia) Pty Ltd’s assessment of the Shelly oil field reserves, the field contains “Proved plus Probable” (2P) hydrocarbon reserves of 122.3 million barrels of oil equivalent.
The majority of these reserves are located within a 33-sq km area in the northern part of the field which makes up 9% of the total field size.
It seems there is a huge upside potential in the largely unexplored southern area.
“It (the southern area) is close to the Shell concession and is not fully explored yet. It has the potential for more exploitable and recoverable oil,” Chan said.
The framework stipulates that for the first two years, Sumatec will enjoy 100% of the profits but will also bear all the related costs, including infrastructure expenditure such as pipes, oil and gas treatment plants, and wells. After that, the profits will be shared equally between Sumatec and COG.
According to a source who spoke on condition of anonymity, there are approximately 47 wells drilled in the Shelly oil field and out of which, 14 are operational and producing oil. The source added that production from the field is slated to reach 10,000 barrels per day by the end of the second year and it estimated very good margins for Sumatec.
Chan said if the deal goes through, Sumatec will take over the operations from the present management and build up the oil and gas infrastructure.
Oil and gas players estimate the PSC to set Sumatec back by more than US$100 million (RM318 million), a hefty sum for the PN17 company.
Sumatec’s proposed PSC is conditional to its regularisation exercise being given the green light by shareholders.
An EGM is likely to be called to get shareholders’ approval for the proposals which include a par value reduction, issuance of new shares, a rights issue and debt restructuring.
The par value reduction will see the cancellation of 17.5 sen or 50% off the par value of the 214.36 million 35 sen shares.
Other proposals include raising RM15 million via the issue of new shares to yet-to-be disclosed investors and a renounceable rights issue worth RM445 million which the new investors will be entitled to.
Sumatec also proposed the issuance of RM32.5 million worth of shares to unsecured creditors who hold approximately RM65 million in debt.
The company’s share price which has been trading below the 10 sen band since late May saw a sudden surge in volume in the beginning of this month. Sumatec’s stock rocketed 460% to close at 28 sen yesterday from a low of five sen on Aug 11.
This article appeared in The Edge Financial Daily, November 30, 2011.
Tuesday, 29 November 2011
KL shares extend gains at mid-afternoon
Shares on Bursa Malaysia extended gains at mid-afternoon today amid good buying interest from fund managers in finance counters, dealers said.
At 3pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,452.67, up 1.48 per cent or 21.12 points, lifted by financial stocks including CIMB, Maybank, AMMB and Public Bank. The key index had opened 6.22 points higher at 1,437.77.
A dealer said fund managers bought into financial stocks on hopes of recovery, with CIMB and AMMB rising 27 sen to RM7.01 and RM5.91 respectively, Maybank gained eight sen to RM8.03 and Public Bank rose 10 sen to RM12.50.
On Bursa Malaysia, trading was positive with volume at 846.41 million shares valued at RM895.24 million, with gainers outpacing losers 476 to 199 while 246 counters were unchanged.
The Finance Index surged 253.66 points to 13,037.24, the Plantation Index gained 54.11 points to 7,662.84 and the Industrial Index was 20.03 points higher at 2,617.12.
The FTSE Bursa Malaysia Emas Index jumped 129.82 points to 9,945.79, the FTSE Bursa Malaysia Mid 70 Index added 100.07 points to 10,795.98 and the FTSE Bursa Malaysia Ace Index rose 4.27 points to 4,136.27.
Among actives, Tiger Synergy was up half sen to 13 sen, Sumatec was unchanged at 31 sen while Sumatec-Warrants lost half sen to 17.5 sen.
As for heavyweights, Sime Darby gained 18 sen to RM8.84, Petronas Chemicals rose one sen to RM5.92, Axiata garnered seven sen to RM4.90 and Maxis up four sen to RM5.46. -- Bernama
At 3pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,452.67, up 1.48 per cent or 21.12 points, lifted by financial stocks including CIMB, Maybank, AMMB and Public Bank. The key index had opened 6.22 points higher at 1,437.77.
A dealer said fund managers bought into financial stocks on hopes of recovery, with CIMB and AMMB rising 27 sen to RM7.01 and RM5.91 respectively, Maybank gained eight sen to RM8.03 and Public Bank rose 10 sen to RM12.50.
On Bursa Malaysia, trading was positive with volume at 846.41 million shares valued at RM895.24 million, with gainers outpacing losers 476 to 199 while 246 counters were unchanged.
The Finance Index surged 253.66 points to 13,037.24, the Plantation Index gained 54.11 points to 7,662.84 and the Industrial Index was 20.03 points higher at 2,617.12.
The FTSE Bursa Malaysia Emas Index jumped 129.82 points to 9,945.79, the FTSE Bursa Malaysia Mid 70 Index added 100.07 points to 10,795.98 and the FTSE Bursa Malaysia Ace Index rose 4.27 points to 4,136.27.
Among actives, Tiger Synergy was up half sen to 13 sen, Sumatec was unchanged at 31 sen while Sumatec-Warrants lost half sen to 17.5 sen.
As for heavyweights, Sime Darby gained 18 sen to RM8.84, Petronas Chemicals rose one sen to RM5.92, Axiata garnered seven sen to RM4.90 and Maxis up four sen to RM5.46. -- Bernama
KL shares bullish at afternoon
Shares on Bursa Malaysia ended the morning session today on a bullish note with continued buying interest seen in selected heavyweights, dealers said.
At 12.30pm, the underlying FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.57 per cent or 22.45 points to 1,454 supported by gains in heavyweights, including CIMB, Genting, Maybank and Tenaga Nasional.
The key index had opened 6.22 points higher at 1,437.77 this morning.
A dealer said the positive local bourse was in tandem with key regional markets, following the firmer overnight close on Wall Street, as well as improved risk appetite on fresh optimism that Europe's debt crisis would be contained.
Furthermore, investor sentiment was buoyed by the robust US Thanksgiving weekend retail sales, the dealer also said, adding, the local bourse is likely to remain in positive territory today.
On Bursa Malaysia, the market breadth was positive with 450 gainers and 183 losers with turnover amounting to 654.64 million shares valued at RM724.88 million.
The Finance Index surged 268.55 points to 13,052.13, the Plantation Index jumped 54.79 points to 7,663.52 and the Industrial Index gained 17.82 points to 2,614.91. The FTSE Bursa Malaysia Emas Index perked 135.45 points to 9,951.42, the Malaysia Mid 70 Index increased 103.62 points to 10,799.53 and the FTSE Bursa Malaysia Ace Index was 19.36 points higher at 4,151.36.
Among actives, Sumatec rose 0.5 sen to 31.5 sen, JCY-Call Warrant was up 4 sen to 25 sen while Sumatec-Warrants declined 0.5 sen to 17.5 sen.
For the heavyweights, Maybank added 11 sen to RM8.06, Sime Darby jumped 18 sen to RM8.84 and CIMB surged 31 sen to RM7.05.-- Bernama
At 12.30pm, the underlying FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.57 per cent or 22.45 points to 1,454 supported by gains in heavyweights, including CIMB, Genting, Maybank and Tenaga Nasional.
The key index had opened 6.22 points higher at 1,437.77 this morning.
A dealer said the positive local bourse was in tandem with key regional markets, following the firmer overnight close on Wall Street, as well as improved risk appetite on fresh optimism that Europe's debt crisis would be contained.
Furthermore, investor sentiment was buoyed by the robust US Thanksgiving weekend retail sales, the dealer also said, adding, the local bourse is likely to remain in positive territory today.
On Bursa Malaysia, the market breadth was positive with 450 gainers and 183 losers with turnover amounting to 654.64 million shares valued at RM724.88 million.
The Finance Index surged 268.55 points to 13,052.13, the Plantation Index jumped 54.79 points to 7,663.52 and the Industrial Index gained 17.82 points to 2,614.91. The FTSE Bursa Malaysia Emas Index perked 135.45 points to 9,951.42, the Malaysia Mid 70 Index increased 103.62 points to 10,799.53 and the FTSE Bursa Malaysia Ace Index was 19.36 points higher at 4,151.36.
Among actives, Sumatec rose 0.5 sen to 31.5 sen, JCY-Call Warrant was up 4 sen to 25 sen while Sumatec-Warrants declined 0.5 sen to 17.5 sen.
For the heavyweights, Maybank added 11 sen to RM8.06, Sime Darby jumped 18 sen to RM8.84 and CIMB surged 31 sen to RM7.05.-- Bernama
Sumatec inks pact with Markmore Energy
Sumatec Resources Bhd, a Malaysian engineering group, said it signed an agreement with Markmore Energy (Labuan) Ltd for a proposed production-sharing contract by CaspiOilGas LLP.
The partners would develop and extract hydrocarbon in Kazakhstan’s Shelly Oil Field where CaspiOilGas is a concession holder, Sumatec said in a Kuala Lumpur stock exchange filing today. -- Bloomberg
The partners would develop and extract hydrocarbon in Kazakhstan’s Shelly Oil Field where CaspiOilGas is a concession holder, Sumatec said in a Kuala Lumpur stock exchange filing today. -- Bloomberg
KL shares bullish at afternoon
Shares on Bursa Malaysia ended the morning session today on a bullish note with continued buying interest seen in selected heavyweights, dealers said.
At 12.30pm, the underlying FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.57 per cent or 22.45 points to 1,454 supported by gains in heavyweights, including CIMB, Genting, Maybank and Tenaga Nasional.
The key index had opened 6.22 points higher at 1,437.77 this morning.
A dealer said the positive local bourse was in tandem with key regional markets, following the firmer overnight close on Wall Street, as well as improved risk appetite on fresh optimism that Europe's debt crisis would be contained.
Furthermore, investor sentiment was buoyed by the robust US Thanksgiving weekend retail sales, the dealer also said, adding, the local bourse is likely to remain in positive territory today.
On Bursa Malaysia, the market breadth was positive with 450 gainers and 183 losers with turnover amounting to 654.64 million shares valued at RM724.88 million.
The Finance Index surged 268.55 points to 13,052.13, the Plantation Index jumped 54.79 points to 7,663.52 and the Industrial Index gained 17.82 points to 2,614.91. The FTSE Bursa Malaysia Emas Index perked 135.45 points to 9,951.42, the Malaysia Mid 70 Index increased 103.62 points to 10,799.53 and the FTSE Bursa Malaysia Ace Index was 19.36 points higher at 4,151.36.
Among actives, Sumatec rose 0.5 sen to 31.5 sen, JCY-Call Warrant was up 4 sen to 25 sen while Sumatec-Warrants declined 0.5 sen to 17.5 sen.
For the heavyweights, Maybank added 11 sen to RM8.06, Sime Darby jumped 18 sen to RM8.84 and CIMB surged 31 sen to RM7.05.-- Bernama
At 12.30pm, the underlying FTSE Bursa Malaysia KLCI (FBM KLCI) gained 1.57 per cent or 22.45 points to 1,454 supported by gains in heavyweights, including CIMB, Genting, Maybank and Tenaga Nasional.
The key index had opened 6.22 points higher at 1,437.77 this morning.
A dealer said the positive local bourse was in tandem with key regional markets, following the firmer overnight close on Wall Street, as well as improved risk appetite on fresh optimism that Europe's debt crisis would be contained.
Furthermore, investor sentiment was buoyed by the robust US Thanksgiving weekend retail sales, the dealer also said, adding, the local bourse is likely to remain in positive territory today.
On Bursa Malaysia, the market breadth was positive with 450 gainers and 183 losers with turnover amounting to 654.64 million shares valued at RM724.88 million.
The Finance Index surged 268.55 points to 13,052.13, the Plantation Index jumped 54.79 points to 7,663.52 and the Industrial Index gained 17.82 points to 2,614.91. The FTSE Bursa Malaysia Emas Index perked 135.45 points to 9,951.42, the Malaysia Mid 70 Index increased 103.62 points to 10,799.53 and the FTSE Bursa Malaysia Ace Index was 19.36 points higher at 4,151.36.
Among actives, Sumatec rose 0.5 sen to 31.5 sen, JCY-Call Warrant was up 4 sen to 25 sen while Sumatec-Warrants declined 0.5 sen to 17.5 sen.
For the heavyweights, Maybank added 11 sen to RM8.06, Sime Darby jumped 18 sen to RM8.84 and CIMB surged 31 sen to RM7.05.-- Bernama
KLCI rallies on fund buying of banks, Genting
KUALA LUMPUR (Nov 29): Fund buying of banks and GENTING BHD [] sparked a rally on Bursa Malaysia on Tuesday, sending the FBM KLCI up more than 22 points or 1.55% as the local market played catch-up with other regional markets and Wall Street.
At 12.30pm, the KLCI was up 22.26 points to 1,453.81. Turnover was 654.66 million shares valued at RM724.89 million. There were 450 gainers, 182 losers and 232 stocks unchanged.
Crude palm oil futures fell RM9 to RM3,060 per tonne while US light crude oil slipped 61 cents to US$97.60 per barrel while the ringgit was quoted at 3.1805 to the US dollar.
Among the key regional markets, Japan’s Nikkei 225 rose 1.29% to 8,394.14, Hong Kong’s Hang Seng Index 0.46% to 18,121.46 and Shanghai’s Composite Index 0.55% higher at 2,396.04. Taiwan’s Taiex added 1.05% to 6,960.96 and South Korea’s Kospi 1.94% to 1,850.48 but Singapore’s Straits Times Index fell 0.17% to 2,689.79.
At Bursa Malaysia, financial stocks were the major gainers as funds bought them on hopes of a recovery. HLFG rose 56 sen to RM11.73, CIMB 31 sen to RM7.05, AMMB 24 sen to RM5.88, Public Bank 12 sen to RM12.52 and Maybank 11 sen to RM8.06.
BAT was the top gainer, up RM1.10 to RM46.50 with 78,200 shares done. Genting rose 48 sen to RM10.50 while Sime Darby gained 18 sen to RM8.84. Proton was nine sen higher to RM3.17 on rising speculation of a takeover.
Sumatec was the most active with 34.91 million shares done with its warrants shed 0.5 sen to 17.5 sen with 20.54 units done.
During the midday break, Sumatec announced that it picked by Markmore Energy (Labuan) Ltd (MELL), which is controlled by Tan Sri Halim Saad, for a production sharing contract at an oil field near the Caspian Sea.
Harvest was the top loser, down 21 sen to RM76 sen while the warrants fell 17 sen to 55 sen. Other decliners were Delloyd, down 14 sen to RM3.32, Fibon 9.5 sen to 40.5 sen and Shangri-la eight sen to RM2.12.
At 12.30pm, the KLCI was up 22.26 points to 1,453.81. Turnover was 654.66 million shares valued at RM724.89 million. There were 450 gainers, 182 losers and 232 stocks unchanged.
Crude palm oil futures fell RM9 to RM3,060 per tonne while US light crude oil slipped 61 cents to US$97.60 per barrel while the ringgit was quoted at 3.1805 to the US dollar.
Among the key regional markets, Japan’s Nikkei 225 rose 1.29% to 8,394.14, Hong Kong’s Hang Seng Index 0.46% to 18,121.46 and Shanghai’s Composite Index 0.55% higher at 2,396.04. Taiwan’s Taiex added 1.05% to 6,960.96 and South Korea’s Kospi 1.94% to 1,850.48 but Singapore’s Straits Times Index fell 0.17% to 2,689.79.
At Bursa Malaysia, financial stocks were the major gainers as funds bought them on hopes of a recovery. HLFG rose 56 sen to RM11.73, CIMB 31 sen to RM7.05, AMMB 24 sen to RM5.88, Public Bank 12 sen to RM12.52 and Maybank 11 sen to RM8.06.
BAT was the top gainer, up RM1.10 to RM46.50 with 78,200 shares done. Genting rose 48 sen to RM10.50 while Sime Darby gained 18 sen to RM8.84. Proton was nine sen higher to RM3.17 on rising speculation of a takeover.
Sumatec was the most active with 34.91 million shares done with its warrants shed 0.5 sen to 17.5 sen with 20.54 units done.
During the midday break, Sumatec announced that it picked by Markmore Energy (Labuan) Ltd (MELL), which is controlled by Tan Sri Halim Saad, for a production sharing contract at an oil field near the Caspian Sea.
Harvest was the top loser, down 21 sen to RM76 sen while the warrants fell 17 sen to 55 sen. Other decliners were Delloyd, down 14 sen to RM3.32, Fibon 9.5 sen to 40.5 sen and Shangri-la eight sen to RM2.12.
Sumatec picked for hydrocarbon project by Halim Saad company
KUALA LUMPUR (Nov 29): SUMATEC RESOURCES BHD [] has been picked by Markmore Energy (Labuan) Ltd (MELL), which is controlled by Tan Sri Halim Saad, for a production sharing contract at an oil field near the Caspian Sea.
Sumatec said on Tuesday it had entered into a framework agreement with MELL for the proposed award of the project by the latter’s unit CaspiOilGas LLP.
CaspiOilGas is the concession holder and operator of the Shelly oil field which covers 354.45 sq km and is onshore next to Caspian Sea within the Mangyshlak peninsula in the south-western Manghystau province, Kazakhstan. Shelly oil field is a 25-year oil and gas concession awarded to CaspiOilGas by the Kazakhstan government on Aug 26, 2000.
SRK Consulting (Australasia) Pty Ltd, a mining consultant, estimated the Shelly oil field has proved plus probable hydrocarbon reserves of 122.3 million barrels of oil equivalent (mmboe) consisting 33.0 million barrels (mmbbl) of proved plus probable oil reserve and 89.3 million barrels of oil equivalent (mmboe) of proved plus probable gas resource.
“The proposed PSC is part of the company’s initiative to restore Sumatec onto stronger financial footing via, amongst others, a balance sheet reCONSTRUCTION [], injection of new funds and settlement with the group’s creditors,” said Sumatec.
Sumatec is finalising its regularisation plan under Practice Note 17 of Bursa Malaysia Securities Bhd Main Market Listing Requirements.
MELL is a unit of Markmore Sdn Bhd and the directors of Markmore are Halim and Abu Talib Abdul Rahman. Halim holds 99.99% equity stake in Markmore.
Sumatec said on Tuesday it had entered into a framework agreement with MELL for the proposed award of the project by the latter’s unit CaspiOilGas LLP.
CaspiOilGas is the concession holder and operator of the Shelly oil field which covers 354.45 sq km and is onshore next to Caspian Sea within the Mangyshlak peninsula in the south-western Manghystau province, Kazakhstan. Shelly oil field is a 25-year oil and gas concession awarded to CaspiOilGas by the Kazakhstan government on Aug 26, 2000.
SRK Consulting (Australasia) Pty Ltd, a mining consultant, estimated the Shelly oil field has proved plus probable hydrocarbon reserves of 122.3 million barrels of oil equivalent (mmboe) consisting 33.0 million barrels (mmbbl) of proved plus probable oil reserve and 89.3 million barrels of oil equivalent (mmboe) of proved plus probable gas resource.
“The proposed PSC is part of the company’s initiative to restore Sumatec onto stronger financial footing via, amongst others, a balance sheet reCONSTRUCTION [], injection of new funds and settlement with the group’s creditors,” said Sumatec.
Sumatec is finalising its regularisation plan under Practice Note 17 of Bursa Malaysia Securities Bhd Main Market Listing Requirements.
MELL is a unit of Markmore Sdn Bhd and the directors of Markmore are Halim and Abu Talib Abdul Rahman. Halim holds 99.99% equity stake in Markmore.
KL shares remain higher at mid-morning
Shares on Bursa Malaysia remained higher mid-morning as buying interest continued its upward momentum boosted by positive sentiment in regional markets and strong overnight close on Wall Street, dealers said.
At 10.45am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was up 0.79 per cent or 11.36 points to 1,442.91 after opening 6.22 points higher at 1,437.77.
Market breadth was positive with 392 gainers and 148 losers with turnover amounting to 418.52 million shares worth RM360.12 million.
A dealer said the benchmark index could remain in the positive territory supported by buying interest following improved risk appetite on fresh optimism that Europe's debt crisis would be contained.
Bursa Malaysia's Finance Index surged 119.04 points to 12,902.62, the Plantation Index increased 31.37 points to 7,640.10 and the Industrial Index was 13.05 points higher at 2,610.14.
The FTSE Bursa Malaysia Emas Index gained 76.24 points to 9,892.21, the Malaysia Mid 70 Index jumped 82.24 points to 10,778.15 and the FTSE Bursa Malaysia Ace Index added 25.41 points to 4,157.41.
Among active counters, Sumatec was flat at 31 sen while Sumatec-Warrants and Compugates were down 0.5 sen each at 17.5 sen and 8 sen, respectively.
For heavyweights, Maybank gained 5 sen to RM8.00, Sime Darby perked 14 sen to RM8.80 and CIMB rose 9 sen to RM6.83. -- Bernama
At 10.45am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was up 0.79 per cent or 11.36 points to 1,442.91 after opening 6.22 points higher at 1,437.77.
Market breadth was positive with 392 gainers and 148 losers with turnover amounting to 418.52 million shares worth RM360.12 million.
A dealer said the benchmark index could remain in the positive territory supported by buying interest following improved risk appetite on fresh optimism that Europe's debt crisis would be contained.
Bursa Malaysia's Finance Index surged 119.04 points to 12,902.62, the Plantation Index increased 31.37 points to 7,640.10 and the Industrial Index was 13.05 points higher at 2,610.14.
The FTSE Bursa Malaysia Emas Index gained 76.24 points to 9,892.21, the Malaysia Mid 70 Index jumped 82.24 points to 10,778.15 and the FTSE Bursa Malaysia Ace Index added 25.41 points to 4,157.41.
Among active counters, Sumatec was flat at 31 sen while Sumatec-Warrants and Compugates were down 0.5 sen each at 17.5 sen and 8 sen, respectively.
For heavyweights, Maybank gained 5 sen to RM8.00, Sime Darby perked 14 sen to RM8.80 and CIMB rose 9 sen to RM6.83. -- Bernama
KL shares higher in early session
Shares on Bursa Malaysia were traded higher, in early session, today tracking bullish regional sentiment following a strong overnight close on Wall Street, dealers said.
After 10 minutes of trading, the key FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,439.40, up 0.55 per cent or 7.85 points when compared with Friday's close of 1,431.55. It opened 6.22 points better at 1,437.77 this morning.
The market was closed yesterday for the Awal Muharram holiday.
A dealer said the benchmark index could play catch-up today amid improved risk appetite following fresh optimism that Europe's debt crisis would be contained and a robust US economy.
On Bursa Malaysia, the Finance Index increased 67.75 points to 12,851.33, the Plantation Index perked 20.21 points to 7,628.94 and the Industrial Index rose 8.55 points to 2,605.64.
The FBM Emas Index climbed 57.92 points to 9,873.89, the FBM70 Index surged 74.43 points to 10,770.34 and the FBM ACE Index advanced 28.31 points to 4,160.31.
Gainers led losers 300 to 38 while 101 counters were unchanged, 1,034 untraded and 16 others were suspended. Turnover stood at 134.99 million shares worth RM100.86 million.
Volume leaders, Sumatec Resources rose 0.5 sen to 31.5 sen, Advance Synergy up 2 sen at 22 sen while Sumatec-Warrants was unchanged at 18 sen.
Among heavyweights, Maybank gained 4 sen to RM7.99, Sime Darby jumped 14 sen to RM8.80 and CIMB rose 3 sen to RM6.77. -- Bernama
After 10 minutes of trading, the key FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,439.40, up 0.55 per cent or 7.85 points when compared with Friday's close of 1,431.55. It opened 6.22 points better at 1,437.77 this morning.
The market was closed yesterday for the Awal Muharram holiday.
A dealer said the benchmark index could play catch-up today amid improved risk appetite following fresh optimism that Europe's debt crisis would be contained and a robust US economy.
On Bursa Malaysia, the Finance Index increased 67.75 points to 12,851.33, the Plantation Index perked 20.21 points to 7,628.94 and the Industrial Index rose 8.55 points to 2,605.64.
The FBM Emas Index climbed 57.92 points to 9,873.89, the FBM70 Index surged 74.43 points to 10,770.34 and the FBM ACE Index advanced 28.31 points to 4,160.31.
Gainers led losers 300 to 38 while 101 counters were unchanged, 1,034 untraded and 16 others were suspended. Turnover stood at 134.99 million shares worth RM100.86 million.
Volume leaders, Sumatec Resources rose 0.5 sen to 31.5 sen, Advance Synergy up 2 sen at 22 sen while Sumatec-Warrants was unchanged at 18 sen.
Among heavyweights, Maybank gained 4 sen to RM7.99, Sime Darby jumped 14 sen to RM8.80 and CIMB rose 3 sen to RM6.77. -- Bernama
Friday, 25 November 2011
Market Commentary
The FBM KLCI index lost 16.44 points or 1.14% on Friday. The Finance Index fell 0.79% to 12783.58 points, the Properties Index dropped 0.36% to 942.7 points and the Plantation Index down 0.27% to 7608.73 points. The market traded within a range of 16.50 points between an intra-day high of 1447.11 and a low of 1430.61 during the session.
Actively traded stocks include SUMATEC, MUIIND, JCY-CD, SUMATEC-WA, COMPUGT, JCY, MACRO-WA, TIGER, MBFHLDG-WA and IRCB-WA. Trading volume increased to 1577.79 mil shares worth RM1098.36 mil as compared to Thursday’s 1499.44 mil shares worth RM1077.76 mil.
Leading Movers were AMMB (+8 sen to RM5.64), HLBANK (+22 sen to RM10.42), UMW (+13 sen to RM6.88), MAXIS (+5 sen to RM5.42) and PETDAG (+6 sen to RM16.42). Lagging Movers were AXIATA (-13 sen to RM4.83), GENTING (-26 sen to RM10.02), DIGI (-12 sen to RM3.54) and MISC (-33 sen to RM5.80). Market breadth was negative with 298 gainers as compared to 463 losers. -- JF Apex Securities Bhd
Actively traded stocks include SUMATEC, MUIIND, JCY-CD, SUMATEC-WA, COMPUGT, JCY, MACRO-WA, TIGER, MBFHLDG-WA and IRCB-WA. Trading volume increased to 1577.79 mil shares worth RM1098.36 mil as compared to Thursday’s 1499.44 mil shares worth RM1077.76 mil.
Leading Movers were AMMB (+8 sen to RM5.64), HLBANK (+22 sen to RM10.42), UMW (+13 sen to RM6.88), MAXIS (+5 sen to RM5.42) and PETDAG (+6 sen to RM16.42). Lagging Movers were AXIATA (-13 sen to RM4.83), GENTING (-26 sen to RM10.02), DIGI (-12 sen to RM3.54) and MISC (-33 sen to RM5.80). Market breadth was negative with 298 gainers as compared to 463 losers. -- JF Apex Securities Bhd
KL shares lower at mid-afternoon
Bursa Malaysia shares extended their losses mid-afternoon in tandem with bearish regional markets, dealers said. Selling pressure emerged in key heavyweights such as MISC, Petronas Gas and Telekom Malaysia and as of 3pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 14.30 points lower at 1,433.69.
Dealers disclosed that poor bond sales in Berlin had compounded fears of an escalating debt crisis in Europe which threatened the world economy.
Affin Investment Bank Head of Retail Research Dr Nazri Khan said the market was vulnerable to more selling, pressurising the FBM KLCI towards the 1,400 points level due to weak external market sentiment.
The Finance Index erased 117.93 points to 12,768.04, the Plantation Index fell 14.02 points to 7,615.32 and the Industrial Index lost 24.62 points to 2,609.50.
The FBM Emas Index dipped 80.68 points to 9,828.28, the FBM70 Index shed 38.89 points to 10,707.96, the FBM Top 100 Index trimmed 82.90 points to 9,633.43 and the FBM ACE Index fell 60.96 points to 4,104.31.
Decliners led advancers 406 to 233 while 269 counters were unchanged, 565 untraded and 16 others were suspended. Turnover stood at 1.02 billion shares worth RM578.7 million.
Among actives, Malayan United Industries rose four sen to 26.5 sen, Sumatec Resources added 5.5 sen to 28.5 sen, Compugates Holdings was unchanged at eight sen and Sumatec Resources warrants increased three sen to 17 sen.
As for heavyweights, Maybank rose four sen to RM7.91, CIMB lost four sen to RM6.75, Telekom shed six sen to RM4.38, Petronas Gas fell 14 sen to RM13.12 and MISC eased 21 sen to RM5.92. -- Bernama
Dealers disclosed that poor bond sales in Berlin had compounded fears of an escalating debt crisis in Europe which threatened the world economy.
Affin Investment Bank Head of Retail Research Dr Nazri Khan said the market was vulnerable to more selling, pressurising the FBM KLCI towards the 1,400 points level due to weak external market sentiment.
The Finance Index erased 117.93 points to 12,768.04, the Plantation Index fell 14.02 points to 7,615.32 and the Industrial Index lost 24.62 points to 2,609.50.
The FBM Emas Index dipped 80.68 points to 9,828.28, the FBM70 Index shed 38.89 points to 10,707.96, the FBM Top 100 Index trimmed 82.90 points to 9,633.43 and the FBM ACE Index fell 60.96 points to 4,104.31.
Decliners led advancers 406 to 233 while 269 counters were unchanged, 565 untraded and 16 others were suspended. Turnover stood at 1.02 billion shares worth RM578.7 million.
Among actives, Malayan United Industries rose four sen to 26.5 sen, Sumatec Resources added 5.5 sen to 28.5 sen, Compugates Holdings was unchanged at eight sen and Sumatec Resources warrants increased three sen to 17 sen.
As for heavyweights, Maybank rose four sen to RM7.91, CIMB lost four sen to RM6.75, Telekom shed six sen to RM4.38, Petronas Gas fell 14 sen to RM13.12 and MISC eased 21 sen to RM5.92. -- Bernama
KL shares lower at mid-day
Share prices on Bursa Malaysia stayed in negative territory at midday today in tandem with the bearish sentiment on regional markets, dealers said.
Selling pressure in key heavyweights such as MISC, Petronas Gas and Telekom Malaysia, drove the FTSE Bursa Malaysia KLCI (FBM KLCI) lower by 13.16 points to 1,434.83. It had opened 0.88 of a point lower at 1,447.11.
The dealers also said that poor bond sales in Berlin had compounded fears of an escalating debt crisis in Europe which threatened the economy on the continent and globally.
Affin Investment Bank, Head of Retail Research, Dr Nazri Khan said the market is vulnerable to more selling, pressurising the FBM KLCI's move to the 1,400 level due to weak sentiment on external markets.
The Finance Index slipped 115.899 points to 12,770.07, the Plantation Index fell 14.52 points to 7,614.82 and the Industrial Index lost 17.70 points to 2,616.42.
The FBM Emas Index dipped 72.55 points to 9,836.41, the FBM70 Index shed 32.10 points to 10,714.75, the FBM Top 100 Index plunged 75.59 points to 9,640.74 and the FBM ACE Index fell 61.29 points to 4,103.98.
Decliners led advancers by 372 to 222 while 264 counters were unchanged, 615 untraded and 16 others suspended. Turnover stood at 889 million shares worth RM480.6 million.
Among active counters, Malayan United Industries rose 4.5 sen to 27 sen, Sumatec Resources added 5.5 sen to 28.5 sen, Compugates Holdings was unchanged at eight sen and Sumatec Resources warrants increased three sen to 17 sen.
For the heavyweights, Maybank rose five sen to RM7.92 while CIMB lost four sen to RM6.75, Telekom eased eight sen to RM4.36, Petronas Gas fell 14 sen to RM13.12 and MISC lost 13 sen to RM6.00. -- Bernama
Selling pressure in key heavyweights such as MISC, Petronas Gas and Telekom Malaysia, drove the FTSE Bursa Malaysia KLCI (FBM KLCI) lower by 13.16 points to 1,434.83. It had opened 0.88 of a point lower at 1,447.11.
The dealers also said that poor bond sales in Berlin had compounded fears of an escalating debt crisis in Europe which threatened the economy on the continent and globally.
Affin Investment Bank, Head of Retail Research, Dr Nazri Khan said the market is vulnerable to more selling, pressurising the FBM KLCI's move to the 1,400 level due to weak sentiment on external markets.
The Finance Index slipped 115.899 points to 12,770.07, the Plantation Index fell 14.52 points to 7,614.82 and the Industrial Index lost 17.70 points to 2,616.42.
The FBM Emas Index dipped 72.55 points to 9,836.41, the FBM70 Index shed 32.10 points to 10,714.75, the FBM Top 100 Index plunged 75.59 points to 9,640.74 and the FBM ACE Index fell 61.29 points to 4,103.98.
Decliners led advancers by 372 to 222 while 264 counters were unchanged, 615 untraded and 16 others suspended. Turnover stood at 889 million shares worth RM480.6 million.
Among active counters, Malayan United Industries rose 4.5 sen to 27 sen, Sumatec Resources added 5.5 sen to 28.5 sen, Compugates Holdings was unchanged at eight sen and Sumatec Resources warrants increased three sen to 17 sen.
For the heavyweights, Maybank rose five sen to RM7.92 while CIMB lost four sen to RM6.75, Telekom eased eight sen to RM4.36, Petronas Gas fell 14 sen to RM13.12 and MISC lost 13 sen to RM6.00. -- Bernama
Thursday, 24 November 2011
KL shares rebound on bargain-hunting
Bursa Malaysia rebounded from yesterday's losses to close higher today, helped by gains in banking stocks and blue-chips like Proton and Hong Leong Financial Group, dealers said.
The FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 14.82 points to close at 1,447.99 after opening 1.26 points lower at 1,431.91.
A dealer said Asian markets, with the exception of Japan, bounced back from their recent losses to close higher today on bargain hunting.
He said the cautious sentiment, however, remained on growing concern over the impact of the eurozone debt crisis and the weak China's manufacturing activities against the backdrop of a poor global economic outlook.
The Finance Index gained 107.20 points to 12,885.97, Plantation Index increased 58.13 points to 7,629.34 and the Industrial Index surged 18.37 points to 2,634.12.
The FBM Emas Index rose 86.28 points to 9,908.96, FBM70 Index added 50.84 points to 10,746.85, FBM Top 100 Index surged 87.99 points to 9,716.33 and the FBM ACE Index jumped 35.07 points to 4,165.27.
Advancers led decliners by 499 to 277 while 289 counters were unchanged, 468 untraded and 19 others were suspended.
Turnover, however, fell to 1.499 billion shares worth RM1.077 billion from 1.508 billion shares worth RM1.127 billion yesterday.
Among the active counters, MBF Holdings warrants rose seven sen to 32.5 sen, Compugates Holdings was unchanged at eight sen, JCY International rose seven sen to 75 sen and Sumatec Resources declined 5.5 sen to 23 sen.
Among the heavyweights, Maybank rose two sen to RM8.19, CIMB rose 11 sen to RM6.79, AMMB Holdings increased five sen to RM5.56, Sime Darby added 15 sen to RM8.88, Proton jumped 23 sen to RM3.18 and Hong Leong Financial Group surged 32 sen to RM11.32. -- Bernama
The FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 14.82 points to close at 1,447.99 after opening 1.26 points lower at 1,431.91.
A dealer said Asian markets, with the exception of Japan, bounced back from their recent losses to close higher today on bargain hunting.
He said the cautious sentiment, however, remained on growing concern over the impact of the eurozone debt crisis and the weak China's manufacturing activities against the backdrop of a poor global economic outlook.
The Finance Index gained 107.20 points to 12,885.97, Plantation Index increased 58.13 points to 7,629.34 and the Industrial Index surged 18.37 points to 2,634.12.
The FBM Emas Index rose 86.28 points to 9,908.96, FBM70 Index added 50.84 points to 10,746.85, FBM Top 100 Index surged 87.99 points to 9,716.33 and the FBM ACE Index jumped 35.07 points to 4,165.27.
Advancers led decliners by 499 to 277 while 289 counters were unchanged, 468 untraded and 19 others were suspended.
Turnover, however, fell to 1.499 billion shares worth RM1.077 billion from 1.508 billion shares worth RM1.127 billion yesterday.
Among the active counters, MBF Holdings warrants rose seven sen to 32.5 sen, Compugates Holdings was unchanged at eight sen, JCY International rose seven sen to 75 sen and Sumatec Resources declined 5.5 sen to 23 sen.
Among the heavyweights, Maybank rose two sen to RM8.19, CIMB rose 11 sen to RM6.79, AMMB Holdings increased five sen to RM5.56, Sime Darby added 15 sen to RM8.88, Proton jumped 23 sen to RM3.18 and Hong Leong Financial Group surged 32 sen to RM11.32. -- Bernama
Sumatec says no O&G injection
KUALA LUMPUR: Sumatec Resources Bhd yesterday dismissed speculation that oil and gas (O&G) assets will be injected into the company, clarifying a media report that businessman Tan Sri Halim Saad is looking to inject some O&G assets from Europe and Vietnam into the company and may emerge as a substantial shareholder.
“The board of directors wishes to clarify that there is no O&G assets injection but the company is in the midst of negotiation with the prospective investor on the regularisation plan,” Sumatec said in a statement yesterday.
The Practice Note 17 company did not specify if Halim is the prospective investor it is in talks with to regularise its distressed position.
Sumatec, which was Tuesday’s most active stock with over 52% of its share base changing hands, had its shares and warrants occupying the second and third spot on the most active list yesterday.
Sumatec rose 0.5 sen to 28.5 sen, off an intra-day high of 32 sen, with over 87 million shares done. Sumatec-WA closed unchanged at 16 sen, on a volume of 60.8 million units.
This article appeared in The Edge Financial Daily, November 24, 2011.
“The board of directors wishes to clarify that there is no O&G assets injection but the company is in the midst of negotiation with the prospective investor on the regularisation plan,” Sumatec said in a statement yesterday.
The Practice Note 17 company did not specify if Halim is the prospective investor it is in talks with to regularise its distressed position.
Sumatec, which was Tuesday’s most active stock with over 52% of its share base changing hands, had its shares and warrants occupying the second and third spot on the most active list yesterday.
Sumatec rose 0.5 sen to 28.5 sen, off an intra-day high of 32 sen, with over 87 million shares done. Sumatec-WA closed unchanged at 16 sen, on a volume of 60.8 million units.
This article appeared in The Edge Financial Daily, November 24, 2011.
Market Commentary
The FBM KLCI index gained 14.82 points or 1.03% on Thursday. The Finance Index increased 0.84% to 12885.97 points, the Properties Index up 0.40% to 946.14 points and the Plantation Index rose 0.77% to 7629.34 points. The market traded within a range of 21.35 points between an intra-day high of 1447.99 and a low of 1426.64 during the session.
Actively traded stocks include MBFHLDG-WA, JCY-CD, COMPUGT, JCY, SUMATEC, DPS, EMICO, MARCO-WA, KBUNAI and KNM. Trading volume decreased to 1499.44 mil shares worth RM1077.76 mil as compared to Wednesday’s 1508.59 mil shares worth RM1127.55 mil.
Leading Movers were AXIATA (+22 sen to RM4.96), SIME (+15 sen to RM8.88), CIMB (+11 sen to RM6.79), TM (+22 sen to RM4.44) and GENTING (+16 sen to RM10.28). Lagging Movers were DIGI (-6 sen to RM3.66), MISC (-7 sen to RM6.13), YTL (-1 sen to RM1.39), BAT (-26 sen to RM47.24) and PETCHEM (-1 sen to RM5.92). Market breadth was positive with 440 gainers as compared to 277 losers. -- JF Apex Securities Bhd
Actively traded stocks include MBFHLDG-WA, JCY-CD, COMPUGT, JCY, SUMATEC, DPS, EMICO, MARCO-WA, KBUNAI and KNM. Trading volume decreased to 1499.44 mil shares worth RM1077.76 mil as compared to Wednesday’s 1508.59 mil shares worth RM1127.55 mil.
Leading Movers were AXIATA (+22 sen to RM4.96), SIME (+15 sen to RM8.88), CIMB (+11 sen to RM6.79), TM (+22 sen to RM4.44) and GENTING (+16 sen to RM10.28). Lagging Movers were DIGI (-6 sen to RM3.66), MISC (-7 sen to RM6.13), YTL (-1 sen to RM1.39), BAT (-26 sen to RM47.24) and PETCHEM (-1 sen to RM5.92). Market breadth was positive with 440 gainers as compared to 277 losers. -- JF Apex Securities Bhd
KL shares higher at mid-day
Share prices on Bursa Malaysia staged a recovery from recent losses at mid-day today, led by gains in banking stocks and selected bluechips, dealers said.
The FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.67 points to 1,438.84, after opening 1.26 points lower at 1,431.91.
Asian markets put on a mixed performance on some mild recovery following the recent sell-down. However, sentiment remained cautious in view of growing concerns over the impact of the eurozone debt crisis and as China's manufacturing activity weakened with the poor global economic outlook, a dealer said.
The Finance Index, gained 71.83 points to 12,850.60 and the Plantation Index increased 16.31 points to 7,587.52, while the Industrial Index increased 13.25 points to 2,629.
The FBM Emas Index rose 36.29 points to 9,858.97, the FBM70 Index rose 37.07 points to 10,733.08, the FBM Top 100 Index increased 37.11 points to 9,665.45 and the FBM ACE Index increased 18.38 points to 4,148.58.
Advancers led decliners 331 to 258 while 239 counters were unchanged, 645 untraded and 16 others suspended. Volume stood at 789.4 million shares worth RM448.5 million.
Among active counters, MBF Holdings warrants rose eight sen to 33.5 sen, Compugates Holdings declined half a sen to 7.5 sen, Sumatec Resources declined four sen to 24.5 sen and KNM Group slipped nine sen to RM1.03.
For the heavyweights, Maybank gained one sen to RM8.18, CIMB rose nine sen to RM6.77, AMMB Holdings increased two sen to RM5.53 and Sime Darby increased 10 sen to RM8.83. -- Bernama
The FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.67 points to 1,438.84, after opening 1.26 points lower at 1,431.91.
Asian markets put on a mixed performance on some mild recovery following the recent sell-down. However, sentiment remained cautious in view of growing concerns over the impact of the eurozone debt crisis and as China's manufacturing activity weakened with the poor global economic outlook, a dealer said.
The Finance Index, gained 71.83 points to 12,850.60 and the Plantation Index increased 16.31 points to 7,587.52, while the Industrial Index increased 13.25 points to 2,629.
The FBM Emas Index rose 36.29 points to 9,858.97, the FBM70 Index rose 37.07 points to 10,733.08, the FBM Top 100 Index increased 37.11 points to 9,665.45 and the FBM ACE Index increased 18.38 points to 4,148.58.
Advancers led decliners 331 to 258 while 239 counters were unchanged, 645 untraded and 16 others suspended. Volume stood at 789.4 million shares worth RM448.5 million.
Among active counters, MBF Holdings warrants rose eight sen to 33.5 sen, Compugates Holdings declined half a sen to 7.5 sen, Sumatec Resources declined four sen to 24.5 sen and KNM Group slipped nine sen to RM1.03.
For the heavyweights, Maybank gained one sen to RM8.18, CIMB rose nine sen to RM6.77, AMMB Holdings increased two sen to RM5.53 and Sime Darby increased 10 sen to RM8.83. -- Bernama
KL shares mostly higher mid-morning
Share prices were mostly higher at midmorning today as the market recovered from recent losses, led by a rebound in banking stocks and selected bluechips, dealers said.
As at 11.08 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.86 points to 1,436.03, after opening 1.26 points lower at 1,431.91.
Asian markets showed a mixed performance on some mild recovery following the recent sell-down. However, sentiment remained cautious in view of growing concerns over the impact of the eurozone debt crisis and as China's manufacturing activity
weakened with the poor global economic outlook, a dealer said.
The Finance Index, gained 43.20 points to 12,821.97 and the Plantation Index increased 0.71 of a point to 7,571.92, while the Industrial Index increased 7.05 points to 2,622.80.
The FBM Emas Index rose 14.73 points to 9,837.41, the FBM70 Index, however, dipped 0.97 of a point to 10,695.04, the FBM Top 100 Index increased 14.90 points to 9,643.24 and the FBM ACE Index increased 26.57 points to 4,156.77.
Advancers led decliners 261 to 247 while 225 counters were unchanged, 740 untraded and 16 others suspended. Volume stood at 552.6 million shares worth RM269.1 million.
Among active counters, MBF Holdings warrants rose 2.5 sen to 28 sen, Compugates Holdings was unchanged at eight sen, Sumatec Resources declined four sen to 24.5 sen and KNM Group slipped 10 sen to RM1.02.
For the heavyweights, Maybank gained two sen to RM8.19, CIMB rose four sen to RM6.72, AMMB Holdings increased one sen to RM5.52 and Sime Darby increased seven sen to RM8.80. -- Bernama
As at 11.08 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 2.86 points to 1,436.03, after opening 1.26 points lower at 1,431.91.
Asian markets showed a mixed performance on some mild recovery following the recent sell-down. However, sentiment remained cautious in view of growing concerns over the impact of the eurozone debt crisis and as China's manufacturing activity
weakened with the poor global economic outlook, a dealer said.
The Finance Index, gained 43.20 points to 12,821.97 and the Plantation Index increased 0.71 of a point to 7,571.92, while the Industrial Index increased 7.05 points to 2,622.80.
The FBM Emas Index rose 14.73 points to 9,837.41, the FBM70 Index, however, dipped 0.97 of a point to 10,695.04, the FBM Top 100 Index increased 14.90 points to 9,643.24 and the FBM ACE Index increased 26.57 points to 4,156.77.
Advancers led decliners 261 to 247 while 225 counters were unchanged, 740 untraded and 16 others suspended. Volume stood at 552.6 million shares worth RM269.1 million.
Among active counters, MBF Holdings warrants rose 2.5 sen to 28 sen, Compugates Holdings was unchanged at eight sen, Sumatec Resources declined four sen to 24.5 sen and KNM Group slipped 10 sen to RM1.02.
For the heavyweights, Maybank gained two sen to RM8.19, CIMB rose four sen to RM6.72, AMMB Holdings increased one sen to RM5.52 and Sime Darby increased seven sen to RM8.80. -- Bernama
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