Bursa Malaysia (KLSE) Info Zone

Off Market Transactions On KLSE (05 August 2008)

2008-08-06T06:58:00.002+08:00

Stock	Dir-Vol	Dir-Val	Av-Price
DAYA	15,000,000	5,400,000	0.36
UBG	4,033,000	10,001,840	2.48
AASIA	3,075,000	2,921,250	0.95
HWGB	1,161,700	359,319	0.309
SUPERMX	750,000	937,500	1.25
TEBRAU	580,000	348,000	0.6
HARBOUR	316,700	205,855	0.65
CBIP	300,000	1,110,000	3.7
MRCB	280,000	311,600	1.113
ASUPREM	244,000	104,920	0.43
GCORP	150,000	151,800	1.012
SUNWAY	117,900	106,110	0.9
GAMUDA	100,000	282,000	2.82
SAAG	100,000	44,000	0.44
ITRONIC	75,000	52,500	0.7
SUCCESS	73,000	64,970	0.89
YECHIU	63,000	108,990	1.73
SCOMI	50,000	32,750	0.655
LIONDIV	20,000	21,800	1.09
LEADER	10,000	6,400	0.64
EKOVEST	5,000	5,900	1.18
ZELAN	5,000	9,150	1.83

Off Market Transactions On KLSE (04 August 2008)

2008-08-05T07:27:00.001+08:00

Stock	Dir-Vol	Dir-Val	Av-Price
PICORP	35,511,200	16,254,164	0.458
AASIA	5,620,000	5,141,600	0.915
WINSUN	2,459,400	344,316	0.14
PLS	2,000,000	1,130,000	0.565
GUOCO	1,690,000	2,197,000	1.3
ITRONIC	1,326,000	928,200	0.7
DBHD	618,000	123,600	0.2
RANHILL	500,000	625,000	1.25
FORMOST	271,000	100,270	0.37
SEALINK	200,000	226,000	1.13
GAMUDA	140,000	395,000	2.821
AMMB	100,000	326,000	3.26
PARKSON	100,000	460,000	4.6
PETDAG	50,000	363,500	7.27
HARTA	47,000	68,150	1.45
KPS	40,000	88,800	2.22
LATEXX	30,000	10,650	0.355

Off Market Transactions On KLSE (01 August 2008)

2008-08-02T07:58:00.001+08:00

Stock	Dir-Vol	Dir-Val	Av-Price
SSTEEL	113,381,912	149,890,888	1.322
PICORP	3,418,000	1,881,170	0.55
SLP	2,574,000	2,316,600	0.9
LITRAK	1,200,000	3,912,000	3.26
SUPPORT	1,000,000	885,000	0.885
YIKON	385,000	496,300	1.289
SEALINK	360,000	396,000	1.1
HUAYANG	282,145	191,859	0.68
MAEMODE	268,100	375,340	1.4
MPHB	200,000	294,000	1.47
HUAAN	200,000	108,000	0.54
GCORP	140,000	143,920	1.028
QSR	136,000	281,520	2.07
MINPLY	128,000	48,640	0.38
MUDAJYA	125,000	182,500	1.46
ATRIUM	100,000	92,000	0.92
KOSMO	100,000	5,500	0.055
ZELAN	100,000	189,000	1.89
MBMR	100,000	216,000	2.16
LIONDIV	81,137	88,439	1.09
NAIM	77,000	205,590	2.67
CHANG	64,100	96,791	1.51
BANENG	50,000	36,000	0.72
PETDAG	50,000	365,000	7.3
GAMUDA	38,000	102,600	2.7
DIGI	33,000	821,700	24.9
JAKS	30,000	18,000	0.6
TRANMIL	30,000	36,300	1.21
YTLPOWR-WB	20,000	11,800	0.59
BKOON	16,962	4,072	0.24
KPS	14,000	30,520	2.18
SUNCITY	10,000	21,200	2.12
KBB	1,500	750	0.5
CAELY	1,000	200	0.2
AEM	1,000	190	0.19
EKIB	1,000	350	0.35
BGYEAR	200	180	0.9

Shares on Bursa traded mixed on July 31

2008-08-01T07:12:00.000+08:00

Shares on Bursa traded mixed on July 31. There was some evidence of profit taking following the recent string of gains. The KL Composite Index drifted within a narrow range while market breadth was biased to the negative.

Trading sentiment was also somewhat ambivalent in key Asian markets. Investors are looking for fresh catalysts and clues as to where the global financial markets are next headed.

Falling crude oil prices had been the key driving force, pushing share prices broadly higher in the last two to three weeks. However, the oil market reversed course on Wednesday night on the New York Mercantile Exchange. Crude oil futures rose sharply to close just below US$127 (RM415.29) per barrel after falling as low as US$120 per barrel.

Oil prices gained after Iran vowed to continue its nuclear programme, aggravating tensions in the Middle East. The US also reported an unexpected fall in gasoline stocks. Although prices are still below record high levels, it remains to be seen if the latest retreat is sustainable.

The KLCI opened in positive territory but pared gains as the day progressed. Profit taking exerted some downward pressure on prices as investors lock in gains from the last few days. Market breadth fell into the red not long after the opening.

The benchmark index ended three points higher at 1,163.1 points. At the close, losing stocks outnumbered gaining ones by a ratio of roughly five to four. Trading volume also fell to its lowest level this week as investors reverted to a more cautious stance. About 423 million shares changed hands Thursday.

CCB was the top gainer after announcing special dividends of RM1.35 sen per share. The stock surged 94 sen to close at RM3.24, and will trade ex-entitlement August 27. Plantations stocks saw mild renewed interest after crude palm oil prices regained some lost ground, in line with the higher crude oil prices. KL Kepong, Asiatic and IOI Corp chalked up gains.

Off Market Transactions On KLSE (31 July 2008)

2008-08-01T07:03:00.000+08:00

Stock	Dir-Vol	Dir-Val	Av-Price
ENGTEX	7,500,000.00	7,375,000.00	0.983
PRDUREN	5,129,700.00	2,051,880.00	0.4
MPHB	4,269,000.00	6,830,400.00	1.6
SARAWAK	2,700,000.00	7,830,000.00	2.9
E&O-LA	2,628,700.00	2,654,987.00	1.01
E&O	1,868,000.00	2,129,520.00	1.14
RAMUNIA	1,820,000.00	3,166,800.00	1.74
AFG	1,342,000.00	3,797,860.00	2.83
TPC	1,000,000.00	40,000.00	0.04
SEQUOIA	933,200.00	349,950.00	0.375
RANHILL	500,000.00	650,000.00	1.3
MKLAND	500,000.00	109,000.00	0.218
ARK	400,000.00	112,000.00	0.28
FORMOST	310,100.00	120,939.00	0.39
SUPPORT	200,000.00	200,000.00	1
PETDAG	150,000.00	1,141,500.00	7.61
YNHPROP	100,000.00	163,000.00	1.63
GRANFLO	100,000.00	33,500.00	0.335
COMINTL	100,000.00	44,500.00	0.445
GAMUDA	100,000.00	275,000.00	2.75
UEMWRLD	90,000.00	266,400.00	2.96
BANENG	79,000.00	56,485.00	0.715
HUPSENG	40,000.00	52,000.00	1.3
ASIATIC	35,000.00	227,850.00	6.51
TEBRAU	30,000.00	18,300.00	0.61
KLCCP	11,900.00	34,153.00	2.87
TRANMIL	10,000.00	12,500.00	1.25
AIRPORT	7,300.00	20,345.10	2.787
MRCB	2,000.00	2,120.00	1.06

Off Market Transactions On KLSE (30 July 2008)

2008-07-31T14:02:00.001+08:00

Stock	Dir-Vol	Dir-Val	Av-Price
PLS	5,000,000	3,100,000	0.62
UNISEM	4,900,000	6,860,000	1.4
GLOSOFT	2,503,000	150,180	0.06
ECOFIRS	2,274,000	346,100	0.152
PRDUREN	2,100,000	840,000	0.4
MESB	2,015,500	705,425	0.35
KARYON	2,000,000	400,000	0.2
PSPRING	1,211,700	1,429,806	1.18
ILB	1,000,000	800,000	0.8
BIOSIS	1,000,000	300,000	0.3
MAHSING	898,380	1,347,570	1.5
LEWEKO	750,000	300,000	0.4
INIX	656,800	114,940	0.175
EMICO	400,000	132,000	0.33
HARBOUR	316,700	205,855	0.65
GCORP	250,000	257,500	1.03
DAYANG	172,000	175,440	1.02
SIGN	150,000	183,000	1.22
TENAGA	70,000	578,900	8.27
SEALINK	50,000	50,000	1
GAMUDA	40,000	109,600	2.74
CIMA	38,000	212,800	5.6
SSTEEL	35,000	101,500	2.9
HARTA	30,000	50,100	1.67
MASTEEL	14,000	20,580	1.47
PARKSON	10,000	46,200	4.62
IOICORP	2,000	11,300	5.65

Off Market Transactions On KLSE (29 July 2008)

2008-07-30T07:19:00.000+08:00

Stock	Dir-Vol	Dir-Val	Av-Price
SEALINK	19,201,900	24,194,394	1.26
UZMA	3,888,500	7,474,850	1.922
TMI	3,800,000	23,750,000	6.25
BRDB	3,021,200	4,773,496	1.58
MESB	2,015,500	705,425	0.35
SLP	1,202,400	1,082,160	0.9
HALIM	1,000,000	540,000	0.54
FORMOST	420,000	155,400	0.37
SBCCORP	400,000	162,000	0.405
SUCCESS	350,000	290,500	0.83
SIGN	167,000	205,410	1.23
KAF	149,000	187,740	1.26
LIONDIV	100,000	125,000	1.25
HUMEIND	32,000	132,480	4.14
ANNJOO	29,100	111,744	3.84
CHANG	20,000	29,600	1.48
GAMUDA	18,500	49,765	2.69
PERISAI	15,100	16,761	1.11

Bursa Malaysia market trades mixed

2008-07-25T07:25:00.001+08:00

Sentiment on Bursa was somewhat ambivalent on July 24. Some profit-taking activities are to be expected after the KL Composite Index's 36-point gain in the previous two trading days.

Despite opening in negative territory, the KLCI's losses were, by and large, limited. The benchmark index drifted sideways for the better part of the day. Selling pressure was well absorbed. Investor confidence was likely shored up by broadly positive sentiment in key regional markets.

Bellwether indices in most Asian markets traded higher on July 24, consolidating their gains from the last few sessions. The continued pullback in crude oil prices allayed inflationary concerns, for the moment. Crude oil futures traded on the New York Mercantile Exchange fell below US$125 (RM408.75) per barrel after the US reported rising stockpiles. Higher pump prices is evidently having some impact on demand.

Lower oil prices, if sustained, should give governments around the world some breathing room to hold off on raising interest rates. Interest rate is, traditionally, one of the major tools to combat inflation. However, with demand slowing down, higher borrowing costs will further hurt economic growth.

Having said that, many investors remain cautious. It is too soon to declare the worst over. The current rally may just be a brief reprieve, a technical rebound from the last sell-off, and we could be looking at more volatility in the days ahead. Certainly, jittery investors would require more evidence before committing more money to the global financial markets.

About 567 million shares were traded on the local bourse. Although on July 24's trading volume was fairly robust by recent standards, it is far from what is needed for a sustained rally. Some of the most actively traded counters were AirAsia, IOI Corp, MRCB and MK Land. A spurt of last minute buying lifted the KLCI two points higher at 1,141.6. But market breadth was in the red. At the close, losers outnumbered gainers by about seven to five.

Plantation stocks drag KLCI down

2008-07-25T07:19:00.000+08:00

by Surin Murugiah
Email us your feedback at fd@bizedge.com

PETALING JAYA: The Kuala Lumpur Composite Index fell this morning, dragged by losses at plantation counters as crude oil and crude palm oil prices declined further yesterday.

Crude oil fell US$3.98 per barrel to settle at US$124.44 (RM406.92) on the New York Mercantile Exchange yesterday, while crude palm oil dropped RM182 and RM202 per tonne respectively to RM3,070 and RM3,035 for August and September deliveries, respectively.

At the Bursa Malaysia, the KLCI fell 3.49 points to 1,135.92 at 10am. Losers led gainers by 159 to 125. Some 123.8 million shares valued at RM177.27 million were traded mid-morning.

The top loser was Kuala Lumpur Kepong Bhd which fell 40 sen to RM13.20, while IOI Corporation Bhd lost 20 sen to RM5.40. Asiatic Development Bhd fell 15 sen to RM6.10, while PPB Group and Sime Darby Bhd lost 10 sen each to RM9.35 and RM8, respectively.

Leading the gainers was Lingkaran Trans Kota Holdings Bhd which added 12 sen to RM3.42, while LCL Corporation Bhd and Tanjong Plc rose 10 sen each to RM2.70 and RM12.90, respectively.

Bumiiputra-Commerce Holdings Bhd, Petronas Gas Bhd and Lion Industries Corporation Bhd gained 10 sen each to RM8.40, RM10.20 and RM2.62, respectively. Other gainers included Ranhill Bhd and Malaysian Airline System Bhd.

AirAsia Bhd was the most actively traded stock this morning, with 11.3 million shares done. It rose 4 sen to RM1.08. Other actively traded counters included MK Land Holdings Bhd, IOI Corp and Malaysian Resources Corporation Bhd (MRCB).

Off Market Transactions On KLSE (24 July 2008)

2008-07-25T07:12:00.000+08:00

Stock	Dir-Vol	Dir-Val	Av-Price
ECOFIRS	3,892,000	564,340	0.145
KARYON	3,000,000	600,000	0.2
IRCB	3,000,000	1,035,000	0.345
MEDAINC	2,380,000	261,800	0.11
KNM	2,200,000	3,960,000	1.8
PRDUREN	2,000,000	800,000	0.4
BONIA	700,000	1,260,000	1.8
MINPLY	606,000	212,100	0.35
KBB	472,000	259,600	0.55
EMICO	400,000	118,000	0.295
QSR	400,000	832,000	2.08
HARBOUR	316,700	205,855	0.65
GCORP	250,000	255,250	1.021
UMW	250,000	1,475,000	5.9
KULIM	200,000	1,610,000	8.05
EKOVEST	150,000	159,000	1.06
UPA	142,000	184,600	1.3
STSTEC	116,904	119,242	1.02
GHLSYS	100,000	26,000	0.26
PBBANK	100,000	1,050,000	10.5
MRCB	100,000	105,000	1.05
GENTING	85,200	489,900	5.75
HARTA	30,000	44,700	1.49
NICORP	20,000	1,300	0.065
IOICORP	20,000	114,000	5.7
TCHONG	10,000	16,800	1.68
UAC	10,000	36,400	3.64
SIME	7,382	56,103	7.6
RESORTS	5,000	12,700	2.54
RUBHD	1,000	3,500	3.5
YIKON	1,000	1,060	1.06
SPRITZR	1,000	1,300	1.3
JPK	1,000	200	0.2
AWC	1,000	140	0.14
MPCORP	1,000	380	0.38

Bursa Malaysia Sentiment took a turn for the better

2008-07-24T07:21:00.001+08:00

KUALA LUMPUR: Sentiment took a turn for the better yesterday. Shares on Bursa traded broadly higher, encouraged by overnight gains on Wall Street and the rally in key Asian markets.

With many stocks sold down to attractive valuations, investors were tempted to do some bargain-hunting. Market trading volume rose to 656 million shares, the highest level recorded since end-May.

Another drop in crude oil prices bolstered confidence and for the moment, allayed some fears of runaway inflation. Oil prices succumbed to profit taking on expectations of weakening global demand and higher stock levels. Crude oil futures traded on the New York Mercantile Exchange is currently hovering around US$127 (RM415.29) per barrel, well off its peak of US$147 per barrel recorded little over a week ago.

The retreat in oil prices gave investors something to cheer about, although concerns remain on corporate earnings growth going forward. The KL Composite Index opened on a firmer footing and gained in strength as the day progressed.

Blue chips racked up gains, leading the benchmark index sharply higher. Among the top gainers were Tanjong plc, Bursa Malaysia, Bumiputra Commerce, PPB, Genting, Sime Darby and Maybank. The KLCI added nearly 30 points to finish at 1,139.4 points.

DiGi and JT International were also among the big gainers for the day. Both companies announced generous cash returns for shareholders. DiGi declared a net interim dividend of 57 sen per share after chalking up another strong set of earnings in 2Q08. Meanwhile, cigarette manufacturer, JT International, proposed a capital repayment of 75 sen per share.

Market breadth was positive. At the close, the number of gaining stocks outpaced losing ones by a ratio of about four to one. AirAsia was the most actively traded counter. The stock gained on crude oil's fall. Other actives include MRCB, IOI Corp, Resorts World and Gamuda.

Off Market Transactions On KLSE (23 July 2008)

2008-07-24T07:14:00.001+08:00

Stock	Dir-Vol	Dir-Val	Av-Price
CME	35,000,000	3,325,000	0.095
RANHILL	29,000,000	23,490,000	0.81
DKCORP	3,000,000	1,440,000	0.48
COMPUGT	1,818,100	199,991	0.11
GENETEC	600,000	198,000	0.33
EMICO	493,300	155,390	0.315
FRB	455,300	346,819	0.762
MVEST	382,600	237,212	0.62
PWORTH	335,000	169,175	0.505
EKOVEST	330,000	330,000	1
CCK	180,000	99,000	0.55
MRCB	172,000	180,600	1.05
AFFIN	115,000	205,850	1.79
MAYBULK	110,000	407,000	3.7
TENAGA	100,000	840,000	8.4
SIME	100,000	840,000	8.4
ANALABS	86,800	69,440	0.8

Investors remained sidelined Bursa Malaysia

2008-07-23T07:20:00.000+08:00

THE KL Composite Index traded higher on July 22. There was some bargain hunting, including for plantations stocks that have been heavily sold down in the last few days. However, the overall sentiment remains ambivalent.

Outlook for global equities is still clouded. The relevant bellwether indices in key Asian markets mostly ended marginally lower on July 22. Meanwhile, US stocks closed mixed overnight. Investors are uneasy over the outlook for corporate earnings going forward.

Recent prognosis on the US economy did not offer much for the market to cheer about. A quick recovery in 2H08 is looking increasingly unlikely. Indeed, earnings guidance from big companies such as American Express, Apple and Texas Instrument is very cautious. The market will continue to sieve through upcoming data to see if the all-important consumer spending weakens.

Meanwhile, crude oil prices regained some lost ground after the recent sell off. Crude oil futures traded on the New York Mercantile Exchange rebound above US$131 (RM428.37) per barrel. As a result, the crude palm oil market also closed steadier. Plantation stocks including KL Kepong, Sime Darby, Kulim and PPB were among the big gainers for the day.

The KLCI opened on a firmer note and stayed in positive territory throughout the day. Select blue chip gains led the benchmark index six points higher at 1,109.6 points. On the other hand, market breadth was more ambivalent. The number of losing counters was ahead of gaining ones for much of the day. However, gainers managed to outpace losers by roughly four to three at the close.

Trading volume was thin. Less than 330 million shares changed hands, a decline from the 375 million shares traded on Monday. Among the most actively traded stocks were IOI Corp, Resorts World, Gamuda, AMMB and KNM. Investors are expected to stay on the sidelines in the near term.

KNM down on financing concerns

2008-07-23T07:18:00.000+08:00

by Jose Barrock
Email us your feedback at fd@bizedge.com

KUALA LUMPUR: Fast-expanding oil and gas player KNM Group Bhd continued to slide, shedding 25 sen yesterday to close at RM5.10 on concerns of its proposed exchangeable bond issue, in the current difficult period. At its lowest in intra-day trading, KNM fell to RM4.96.

The company’s shares were among the most active with 11.9 million shares traded. Since end- May this year, the company’s share has tumbled by about 27% and during the period in review, under-performed the sluggish Kuala Lumpur Composite Index by 13.5%.

According to Goldman Sachs, the dip in KNM’s shares is a result of fears as to whether the company’s proposed exchangeable bond issue will proceed, with the current weak market likely to be a dampener. KNM had taken a €350 million (RM1.8 billion) bridging loan to finance the acquisition of German-based Borsig Beteiligungsverwaltungsgeselschaft mbH, last month, and has since partially pared down some of these loans, by utilising proceeds from a RM1.1 billion one-for-four rights issue, which was completed end of last month.

KNM had proposed raising another US$350 million (or its equivalent) in exchangeable bonds to settle the remaining amount of the outstanding debts taken for the purchase.

Goldman said that checks with the company revealed that in line with the widening global credit spreads the indicative yield for their proposed exchangeable bond has risen by 100 bps to 4.8% now (30%-35% conversion premium) against the existing bridging loan’s 5.2%.

“Given the significant increase, KNM is exploring other options, including the possibility of issuing plain vanilla debt, which the company says has indicative yields of 5.5%-6%,” Goldman Sachs says in report recently.

The research house stated that KNM may launch the exchangeable bonds when market conditions improve and that it views the alternative plan positively.

Foreign funds such as FMR LLC and FIL Ltd have been trading KNM’s shares heavily, which could explain its high trading volumes. The two funds emerged as substantial shareholders in end July last year, with 5.2% or 54 million shares. Since then, the funds have upped their shareholding to above 10.7% or about 141.4 million shares.

Another fund, which has been actively trading KNM’s stock, is the Employees Provident Fund (EPF). The EPF has about 6% in KNM now.

Early last week, about 11 million shares in KNM were traded off market in 22 block trades of above half-a-million shares crossing at RM5.85 a share. This occurred in about a 10-minute span of time in the later part of morning trade.

For its first three months of FY08, KNM posted a net profit of RM54.1 million on the back of RM331.2 million revenue. In contrast to a year ago, net profit improved by about 41%, while revenue increased 26%.

In a short span of three years, KNM has grown to become one of the top oil and gas players providing a wide spectrum of services. In March this year, the company proposed to buy the German-based Borsig to expand its reach in Europe.

Off Market Transactions On KLSE (22 July 2008)

2008-07-23T07:07:00.000+08:00

Stock	Dir-Vol	Dir-Val	Av-Price
GPHAROS	6,789,600	2,715,840	0.4
WASEONG	2,500,000	4,900,000	1.96
ALAQAR	2,084,000	1,958,960	0.94
PWORTH	2,021,100	1,010,550	0.5
HUAYANG	535,837	364,369	0.68
PECD	500,000	15,000	0.03
FRB	489,200	378,342	0.773
PRDUREN	250,700	105,294	0.42
UEMBLDR	200,000	230,000	1.15
K1	190,000	69,350	0.365
GAMUDA	170,000	440,300	2.59
BIOOSMO	120,100	13,211	0.11
BPURI	110,000	102,850	0.935
BORNOIL-WB	100,000	7,000	0.07
MPHB	95,000	133,000	1.4
EONCAP	79,006	355,527	4.5
KPS	70,000	152,600	2.18
HARTA	54,000	64,800	1.2
PBBANK	48,200	462,980	9.605
EDEN	20,000	9,160	0.458
AMMB	8,900	24,030	2.7
DIALOG	4,600	4,692	1.02
KLK	4,500	50,850	11.3
RHBCAP	4,400	15,048	3.42
MRCB	4,300	3,698	0.86
KNM	4,000	18,240	4.56
UMW	4,000	20,600	5.15
AEON	4,000	14,080	3.52
ASIATIC	3,700	20,350	5.5
ALLIANZ	3,100	9,486	3.06
COMMERZ	3,000	20,850	6.95
IOICORP	2,600	12,896	4.96
TM	2,300	6,992	3.04
TMI	2,300	12,995	5.65
SIME	2,200	14,960	6.8
FRONTKN	2,100	1,239	0.59
TENAGA	2,100	15,120	7.2
MAYBANK	1,900	12,255	6.45
TANJONG	600	6,780	11.3

Bursa Malaysia Market still tentative

2008-07-22T07:29:00.000+08:00

Shares on Bursa rebounded after opening on a weaker footing yesterday. Sentiment may have been buoyed by a rally in key Asian markets. Nevertheless, market volume remained relatively thin. It is quite likely that the market will see more volatility in the days ahead.

The KL Composite Index opened in negative territory and continued to fall for much of the morning session. Plantation stocks were among the big losers. Investors are reacting to the sharp fall in crude palm oil (CPO) prices. The benchmark CPO futures contract traded on the Bursa Derivatives closed below RM3,300 per tonne. Prices had averaged around RM3,500 per tonne in the first half of the year.

The fall in CPO prices was triggered by weaker crude oil prices. Oil prices retreated from record high levels last week due, in part to expectations of slowing demand from weaker global economies. Crude oil futures on the New York Mercantile Exchange are now hovering around US$130 per barrel.

There remains debate as to whether this latest price retreat is sustainable. Global spare production capacity is limited, leaving the market vulnerable to supply disruptions. However, for now, many are breathing a little easier for the relief. Lower oil prices will certainly help cool inflationary pressures.

Recent news reports suggest that domestic inflation rate may have risen to the highest level in more than two and half decades. This raises worries that the central bank will hike interest rates soon. If so, higher borrowing costs will further dent consumer spending already weighed down by higher food and fuel prices. Weaker demand and rising cost of doing businesses will also eat into corporate earnings growth.

The KLCI ended the day marginally lower 1,103.5 points after falling by almost 16 points earlier in the day. Market volume however remained fairly low at 375 million shares. Market breadth too was in the red despite the headline gains. At the close, losing counters outnumbered gaining ones by a ratio of about eleven to ten.

Note: This report is brought to you by Asia Analytica Sdn Bhd, a licensed investment adviser. Please exercise your own judgment or seek professional advice for your specific investment needs. We are not responsible for your investment decisions. Our shareholders, directors and employees may have positions in any of the stocks mentioned.

Off Market Transactions On KLSE (21 July 2008)

2008-07-22T07:24:00.000+08:00

Stock	Dir-Vol	Dir-Val	Av-Price
MEDAINC	3,670,000	367,000	0.1
PSPRING	1,000,000	1,190,000	1.19
EDEN	600,000	276,000	0.46
EMICO	499,900	132,474	0.265
SUPERMX	250,000	307,500	1.23
IJM	191,100	974,205	5.098
KUB	100,000	32,750	0.328
IOICORP	100,000	627,000	6.27
ASIATIC	100,000	698,500	6.985
GAMUDA	50,000	125,000	2.5
JERNEH	40,000	56,000	1.4
POHUAT	25,000	13,250	0.53
JERNEH-WA	25,000	7,500	0.3
GENTING	20,000	107,000	5.35
RESORTS	11,000	28,490	2.59
TIENWAH	3,000	3,720	1.24

Off Market Transactions On KLSE (18 July 2008)

2008-07-22T07:22:00.000+08:00

Stock	Dir-Vol	Dir-Val	Av-Price
MULPHA	10,000,000	12,500,000	1.25
COMPUGT	1,818,100	199,991	0.11
BJMEDIA	1,752,754	1,752,754	1
IJMPLNT	1,500,000	4,530,000	3.02
IOICORP	1,257,350	7,041,160	5.6
COMMERZ	1,006,000	7,746,200	7.7
EMICO	893,300	241,191	0.27
BIOSIS	700,000	210,000	0.3
SAAG-WA	650,000	110,500	0.17
Y&G	590,000	106,200	0.18
TDEX	500,000	115,000	0.23
SEEHUP	491,161	648,333	1.32
EDEN	452,700	212,769	0.47
BJMEDIA-WA	422,000	168,800	0.4
JAKS	400,000	236,000	0.59
YTLLAND	385,000	392,700	1.02
HARBOUR	316,700	212,189	0.67
DNP	300,000	270,000	0.9
KNM	300,000	1,800,000	6
FABER	300,000	225,000	0.75
MYETFDJ	300,000	211,500	0.705
MAA	249,000	199,200	0.8
GAMUDA	171,500	423,605	2.47
AXIS	169,800	320,024	1.885
GLOMAC	130,000	92,950	0.715
AIM	110,000	28,050	0.255
BIMB	100,000	100,000	1
PBBANK	100,000	1,080,000	10.8
YNHPROP	100,000	158,000	1.58
BLDPLNT	55,000	236,500	4.3
UEMWRLD	50,000	140,000	2.8
DAYANG	50,000	42,500	0.85
RHBCAP	50,000	187,500	3.75
TOYOINK	50,000	81,500	1.63
LEADER	33,000	19,470	0.59
KHSB	20,000	9,800	0.49

KNM sees second day of active trade with price drop

2008-07-18T08:10:00.001+08:00

Oil and gas company KNM Group Bhd’s shares were among the most actively traded on Bursa Malaysia yesterday with about 7.1 million shares changing hands. The stock shed 15 sen, or 2.7%, to close at RM5.60.

Excitement surrounding KNM could stem from a number of factors, including its bonus issue announcement. The exercise involves the issue of 2.6 billion shares with a par value of 25 sen, on the basis of two bonus shares for each existing KNM share.

KNM had also seen heightened activity on Tuesday when about 17.1 million shares were traded, with the stock closing 15 sen down as well.

Tuesday’s trading pattern was unusual, to say the least. Checks on Bloomberg revealed that several large blocks of more than half a million shares each were traded off-market at RM5.85 apiece.

This occurred during a 10-minute span with about 22 blocks of around 500,000 shares each crossing in the later part of the morning. Dealers said the large volumes of shares were matched through the market.

Announcements to Bursa Malaysia, meanwhile, show that funds Boston-based FMR LLC and Bermuda-based FIL Ltd had been actively trading in the company’s shares. The two funds collectively control 10.6% or 139.8 million shares of KNM.

For the first three months of its financial year ending Dec 31, 2008, KNM posted a 41.2% jump in net profit to RM54.1 million on the back of a 26.3% rise in revenue to RM331.2 million.

Interest to enter Bursa Malaysia still remains lacklustre

2008-07-18T07:17:00.001+08:00

KUALA LUMPUR: Sentiment on the Bursa Malaysia stayed weak on Thursday. Despite strong overnight gains on Wall Street and a rally in key regional markets, local stocks drifted broadly lower.

By contrast, most Asian markets rebounded strongly. This may be attributed to bargain hunting after the recent sell off. Sentiment also improved after crude oil prices continued to ease. Crude futures traded on the New York Mercantile Exchange are currently hovering around US$135 (RM441.45) per barrel, off its recent record high of US$147 per barrel.

Nevertheless, the regional rally failed to spur buying interest in the local bourse. Aside from external factors, domestic uncertainties are also playing an increasingly important role in influencing investor psyche.

The arrest of opposition de facto leader Datuk Seri Anwar Ibrahim the previous day certainly underscores the heightened tension in the local political landscape. Although he has since been released on bail, there remain many questions as to what will happen next.

With such a clouded outlook, most investors are avoiding making any fresh bets in the market at the moment. Trading volume remained near the lows so far this year. Just over 292 million shares were traded. Until some degree of resolution is seen, we suspect interest in the local bourse will stay lacklustre.

The KL Composite Index was in the red for much of the day. It fell as low as 1,111.6 points intraday before a spurt of last minute buying lifted the benchmark index back into positive territory. The KLCI finished less than two points higher at 1,121.2 points.

Similarly, market breadth was also negative for the better part of the day before reversing near the close. At the close, the number of gaining counters managed to just edge ahead of losing ones.

IOI Corp, Resorts World and Telekom Malaysia were some of the day's most heavily traded counters. Jaya Tiasa was the biggest gainer on razor thin volume.

Off Market Transactions On KLSE (17 July 2008)

2008-07-18T07:12:00.001+08:00

Stock	Dir-Vol	Dir-Val	Av-Price
DIALOG	5,000,000.00	6,000,000.00	1.2
ECOFIRS	2,655,200.00	385,004.00	0.145
BJMEDIA	2,000,000.00	2,000,000.00	1
UEMBLDR	1,528,400.00	1,910,500.00	1.25
PICORP	1,482,700.00	830,312.00	0.56
ENVAIR	1,000,000.00	280,000.00	0.28
MINPLY	765,300.00	306,120.00	0.4
REXIT	599,933.00	755,915.58	1.26
QSR	500,000.00	1,040,000.00	2.08
MAEMODE	435,500.00	609,700.00	1.4
BJMEDIA-WA	400,000.00	160,000.00	0.4
MVEST	372,600.00	242,190.00	0.65
BAHVEST	260,000.00	150,800.00	0.58
BHIC	213,000.00	881,820.00	4.14
WTHORSE	200,000.00	240,000.00	1.2
ICP	187,900.00	450,960.00	2.4
MRCB	172,000.00	182,320.00	1.06
MAGNA	140,000.00	448,000.00	3.2
ALLIANZ	134,100.00	469,350.00	3.5
NPC	108,600.00	247,608.00	2.28
KNM	100,000.00	590,000.00	5.9
MKLAND	100,000.00	25,300.00	0.253
RHBCAP	99,500.00	403,970.00	4.06
GAMUDA	70,000.00	171,500.00	2.45
UEMWRLD	50,000.00	146,000.00	2.92
ASIATIC	50,000.00	335,000.00	6.7
SCGM	50,000.00	22,000.00	0.44
RESORTS	40,000.00	106,000.00	2.65
LEADER	30,000.00	18,000.00	0.6
SIME	15,000.00	126,000.00	8.4
AFFIN	9,900.00	17,721.00	1.79
TMI	7,000.00	42,550.00	6.079
DIGI	5,500.00	136,950.00	24.9

Bursa Malaysia in massive short selling?!

2008-07-17T07:16:00.000+08:00

by Thomas Soon, Yong Yen Nie & Surin Murugiah
Email us your feedback at fd@bizedge.com

KUALA LUMPUR: Certain investors are believed to have engaged in an unusually massive short selling on Bursa Malaysia at the end of last week in anticipation of a heavy selldown in the market following the opposition’s move to file a no-confidence motion against the prime minister.

However, despite the initial heavy selling , the investors appeared to have been trapped in their short positions by the quick and relative recovery of the market and could not deliver the shares that they did not possess, market players said yesterday.

This resulted in an unusually large-scale buy-in exercise initiated by Bursa Malaysia Securities Bhd yesterday involving more than eight million shares of close to 60 companies.

When contacted by The Edge Financial Daily, Bursa Malaysia could not comment on the matter yet, but is expected to issue a statement today.

The extent of the buy-in exercise caught many intermediaries, including remisiers, dealers and brokers, off-guard, who were puzzled by the big number of companies and number of shares involved.

One remisier, who declined to be named, said of her entire 30 years in the trade, she had never seen such a massive buy-in exercise. “The authorities must investigate extensively to determine who were responsible for what appears to be an unusually large short-selling exercise last Thursday,” she said.

However, other sources said some of the shares could have been short-sold last Friday, when the motion of no confidence against Datuk Seri Abdullah Ahmad Badawi and his cabinet was filed in parliament. The motion was rejected by the Dewan Rakyat Speaker on Monday.

Last Thursday, the Kuala Lumpur Composite Index closed down 4.32 points at 1,135.49, after recovering from an intra-day low of 1,129.92. On the following day, the KLCI closed at 1,150.39, up 14.9 points, off its intra-day low of 1,136.4.

Yesterday’s buy-in involved blue-chip counters such as Public Bank Bhd, MISC Bhd and Tanjong Plc.

“We want to know what happened. We want to know who are responsible for the short-selling. As it is, the market is already in such an uncertain state, we do not need people to benefit from the market chaos,” said a remisier.

Sources said a foreign fund, JP Morgan, participated in the buy-in exercise and sold a basket of blue-chip stocks of a significant quantity at 10 bids above the previous day’s closing prices, being the penalty for short-selling.

Brokers said such buy-ins had to be initiated when there was a failure to deliver trades. Market intermediaries such as remisiers and dealers could access the buy-in list via their broker front-end screen.

The list of stocks included Multi-Purpose Holdings Bhd, Carlsberg Brewery Malaysia Bhd, Malaysian Resources Corporation Bhd (MRCB), Zelan Bhd, Pos Malaysia Bhd, Unisem Bhd, RHB Capital Bhd, Star Publications Bhd, Kinsteel Bhd, Affin Holdings Bhd, SapuraCrest Petroleum Bhd, Proton Holdings Bhd, Sunway City Bhd and Sunrise Bhd.

Notably, several counters including Pos Malaysia, Tanjong, Carlsberg, Star and Zelan were not among the 100-approved securities on Bursa’s regulated short-selling (RSS) list.

The share prices of the stocks involved did not move significantly and most have ended flat or slightly up since last Thursday.

Bursa Malaysia re-introduced the RSS early last year after the practice was banned in 1997, following the Asian financial crisis. Under the RSS, as at Jan 28 this year, there were 100 approved securities.

RSS is defined as the selling of stocks which a person does not presently own, but for which such person has made arrangements to borrow.

In this case, it was apparent that those who had short-sold the stocks did not have such an arrangement, thereby raising the question of legality of their activity.

Any individual can engage in RSS with the short sales to be settled with the borrowed stocks. This borrowing must be made within the Securities Borrowing and Lending (SBL) framework established by Bursa Malaysia Securities Clearing Sdn Bhd.

Under this framework, Bursa Clearing will act as a Central Lending Agency (CLA). As the CLA, Bursa Clearing will borrow from lenders and onward lend to borrowers.

Any person who has the requisite number of stocks may lend them to the CLA. On the other hand, only approved participating organisations may borrow stocks from the CLA. Any other person who wishes to borrow stocks must go through the approved participating organisations. The lenders and borrowers must enter into an SBL agreement that will set out their rights and obligations.

Short-selling is governed by Sect 41 of the Securities Industry Act 1983, where subsection (1) provides: Subject to this section and any regulations that may be made, a person shall not sell securities unless, at the time when he sells them,

(a) he has or, where he is selling as agent, his principal has; or

(b) he believes on reasonable grounds that he has, or where he is selling as agent, his principal has, a presently exercisable and unconditional right to vest the securities in a purchaser of the securities.

Under Section 41 (2) a person who contravenes or fails to comply with the provisions of subsection (1) commits an offence and is liable on conviction to a fine not exceeding RM1 million or to imprisonment for a term not exceeding 10 years, or to both.

Under normal circumstances, failure to deliver the stocks could also occur due to mistakes by brokerage houses and fund managers, failure of settlement by the custodian, or even updating errors by the funds involved, sources said.

“It is rare to see such exceptional share buy-ins, but I do not think the relevant parties had any intention to break any law,” a source said.

Meanwhile, an industry veteran familiar with securities’ dealings said broking houses, under the present RSS rules, would find it hard to justify that the failure of deliveries were due to mistakes.

“There is no room for error with the new rules in place. As long as the stocks are not from the approved list, that itself constitutes an offence,” he said.

Off Market Transactions On KLSE (16 July 2008)

2008-07-17T07:13:00.001+08:00

Stock	Dir-Vol	Dir-Val	Av-Price
KENCANA	25,000,000	43,250,000	1.73
ECOFIRS	6,343,700	919,837	0.145
HARISON	6,145,200	7,374,240	1.2
PRDUREN	2,300,000	885,500	0.385
PELIKAN	1,500,000	3,720,000	2.48
PSPRING	1,435,200	1,679,184	1.17
BKOON	1,370,500	342,625	0.25
PICORP	1,311,000	760,380	0.58
ASB-LA	781,300	35,159	0.045
GLOMAC	676,200	551,103	0.815
PRTASCO	625,100	462,574	0.74
YLI	529,100	470,899	0.89
ASUPREM	400,000	160,000	0.4
TOMYPAK	281,900	112,760	0.4
KNM	280,000	1,652,000	5.9
BCB	200,000	80,000	0.4
UPA	180,000	198,000	1.1
MAEMODE	110,300	154,420	1.4
DAYANG	105,000	102,900	0.98
SUCCESS	100,000	89,000	0.89
NEPLINE-WA	80,000	7,200	0.09
AXIS	64,300	127,314	1.98
MINPLY	49,000	19,600	0.4
GSB	1,510	68	0.045

Bursa Malaysia Snapshots Since July 2007

2008-07-16T07:13:00.001+08:00

Malaysia share market KLCI countinues falls as regional markets slump

2008-07-16T07:02:00.001+08:00

KUALA LUMPUR: Shares on Bursa Malaysia fell on Tuesday, tracking a sharp fall in regional markets, especially Hong Kong, on deepening US economic and financial concerns.

Worries over the state of the US financial sector had deepened since late last week with the problems emanating from government mortgage giants Freddie Mac and Fannie Mae, and later the collapse of banking group IndyMac over the weekend.

This suggests the worst of the US credit crunch and losses emanating from the sub-prime crisis was far from over. Although the pain on Main Street would last a long while, many had hoped that the worst of the credit crunch had passed in March 2008, after central banks around the world pumped in enormous amounts of liquidity to keep global financial markets running.

With large losses around the region and growing external uncertainties, the local bourse could not escape the fallout. The KLCI fell 16.4 points to 1,127.6. Market breadth was negative with declining stocks beating advancing ones by a 2.5-to-1 ratio. Volume totaled 395 million shares - still low by past standards, but higher than Monday's 279 million shares, which was the year low.

The most actively traded stocks of the day include Media Prima, KNM, Gamuda, IOI Corp, TM, Sime Darby and Genting. Major gainers include Nestlé, MSC, Baneng, Star and Shell. Losers include large blue chips like DiGi, Genting, IJM, KFC, UMW and Tenaga. There was fairly heavy volume among the big caps, suggesting some institutional selling activities.

The outlook for Wall Street and global equities is cloudy for the near-term, and investors are likely to stay cautious. Thus, while many stocks are very attractively priced, investors are, unfortunately, not in any real hurry to buy, given the prevailing external and domestic uncertainties.