Maybank IB Views

Tuesday, July 5, 2011

The FBM KLCI closed lower by 0.60 points at 1,582.35 yesterday. Its resistance areas of 1,584 and 1,589 may cap market gains, whilst the firm support areas are located at 1,569 and 1,582. The market could rise marginally, with some afternoon profit taking activities.

Trading idea is a Short-Term Buy on Ivory

Other Local News
Genting: To buy Pan Malaysian Pools for RM2.5b? The market is again abuzz with speculation that Genting Bhd is finalising the deal to acquire Tanjong plc's gaming unit Pan Malaysian Pools Sdn Bhd (PMP) for an estimated RM2.5b. (Source: The Star)

Star Publications: To buy 5% stake in Catcha Media. Star Publications (M) Bhd plans to buy a 5% stake in Catcha Media Bhd for RM4.98m or RM0.75 per share. Catha Media is slated for listing on the ACE Market of Bursa Securities on July 22. The proposed acquisition is part of Catcha Media’s private placement exercise under the IPO. (Source: The Sun)

Proton: To offer CVT tech in future cars. Proton Holdings Bhd will introduce the continuous variable transmission (CVT) technology in its upcoming range of cars. Proton tests show that CVT can reduce fuel consumption by 4-10%. (Source: The Sun)

CI Holdings: Asahi to buy Permanis? CI Holdings Bhd is in talks with Asahi Group Holdings Ltd to buy subsidiary Permanis Sdn Bhd for USD200m (RM600m). However, Permanis’s MD Datuk Johari Abdul Ghani was tightlipped on the talk when contacted. It was reported that the Tokyo-based Asahi had agreed yesterday to buy the mineral-water and juice businesses of closely-held P&N Beverages Australia Pty Ltd for USD309 m (RM927m). Asahi is also in the midst of competing with Suntory Holdings Ltd to buy New Zealand’s Independent Liquor under a deal worth some USD1.12 b (RM3.36b). (Source: Business Times)

Dijaya: Foreign fund acquires 5% stake in Dijaya. TAEL One Partners Ltd , a Cayman Islands registered company bought 22.75m shares or a 4.99% stake in Dijaya Corp Bhd for RM37.5m. (Source: The Edge Financial Daily)

Grand-Flo: To distribute Apple iPad. Grand-Flo Solution Bhd’s unit E-Tech IT Sdn Bhd has been appointed as a value-added reseller by Apple to distribute the Apple iPad in Malaysia. E-Tech is now a value-added reseller for the Apple iMac and Macbook. (Source: The Sun)

Property: 825 acres of land for PR1MA. As many as 20 sites on 825 acres of land across the Klang Valley, Rawang and Seremban have been identified for the development of an estimated 42,078 homes under the 1Malaysia Housing Programme or Program Perumahan 1Malaysia (PR1MA). Under PR1MA, homes priced between RM150,000 and RM300,000 will be built in urban and suburban areas across the country. (Source: The Edge Financial Daily)


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