Maybank IB Views

ECONOMICS
Market & Economy
Embarking on the passage of transformation

Strengthening the roadmap. Khazanah Nasional's Plenary Session at Day 2 of the Invest Malaysia conference showcased government linked companies (GLC) transformation successes as the programme enters the final phase which is also a critical period of national transformation, under the government's resolve to transform Malaysia into a high-income economy by 2020. As the GLC transformation programme enters the 7th year of its 10-year passage, the transformation programme, in aggregate, is "well on track and on schedule".

Technicals
The FBM KLCI rose by 9.67 points at 1,535.59 yesterday. Its resistance areas of 1,535 and 1,560 will cap market gains, whilst the weaker support areas are located at 1,517 and 1,533.

Trading idea for today is a TAKE PROFIT call on HAPSENG.

Other Local News
Alam Maritim: Unit bags RM24.2m deal. Alam Maritim Resources Bhd’s unit has bagged a RM24.2m contract from an independent oil & gas exploration and production company to provide a unit anchor handling tug supply vessel and a fast multipurpose supply vessel. (Source: Bursa Malaysia)

Masterskill: Signs MoU on training. Masterskill (M) Sdn Bhd has signed a memorandum of understanding (MoU) to establish and develop academic exchange as well as co-operation in teaching and training of Masterskill’s student at the Mayapada Hospital, in Indonesia. (Source: Bursa Malaysia)

Tech: Penang gets new RM1b Japanese investment. Penang received a shot in the arm with a RM1b investment by Japan's Ibiden Co Ltd, the world's largest printed circuit board (PCB) maker. The amount would be pumped into its second facility in the Penang science park in Bukit Minyak. (Source: The Star)

Utilities: Govt may buy water bonds. The Federal Government is believed to be planning a special purpose vehicle or getting Pengurusan Asset Air Bhd (PAAB) to buy over the bonds for which some are running into an event of default. (Source: The Star)