Dec 10th- Stocks To Watch Index-linked stocks, plantation stocks, Green Packet, water stocks, Sumatec

Business & Markets 2013
Written by Ho Wah Foon of theedgemalaysia.com
Monday, 09 December 2013 20:00
A + A - Reset
KUALA LUMPUR (Dec 9): Index-linked stocks and select blue chips may
continue to be the targets of window-dressing tomorrow and the FBM KLCI may
climb to another record tomorrow.
“The analysis of overall daily market action on 9 Dec 2013 revealed that buying
power was stronger than selling pressure. As such, the FBMKLCI would likely
trade above the 1.843.62 level on 10 Dec 2013,” said Alliance Research in its
technical analysis tonight.
At market close today, the FBM KLCI rose 14.92 or 0.8% points to end at new
high of 1841.87, lifted by gains at Petronas-linked counters (Petgas, Petdag,
Petchem), plantation stocks and other select blue chips. The KLCI’s intraday
high was 1843.62.
Plantation Stocks, which rose sharply today, may either rise further tomorrow
on the bullish outlook for palm oil prices or succumb to profit-taking.
Affin Investment Bank has recommended investors to accumulate IOI Corp, Kuala Lumpur Kepong, IJM Plantation, Batu Kawan, United
Plantations, Genting Plantations, TH Plantation and TDM Bhd.
The stocks that rose sharply today included United Plantations, PPB Group, Sime Darby, IOI Corporation and Felda Global Ventures.
Green Packet Bhd saw its substantial shareholder OSK Ventures International Bhd or Tan Sri Ong Leong Huat unloading some 2.57
million Green Packet shares last week.
These shares were sold in the open market on Dec 3, Dec 4 and Dec 5 at undisclosed prices, according to a stock exchange filing by
Green Packet.
After the sale, OSK Ventures still holds 16.25% stake in the technology company.
Green Packet closed 6.5 sen higher at 51 sen today.
Water stocks may again come under focus after Selangor Menteri Besar Tan Sri Abdul Khalid bin Ibrahim said today the state
government is maintaining its stand to take over the four water concession companies, but it will seek guidance from the Federal
Government on price issue.
Speaking at a press conference, Khalid said he “is optimistic in hammering out a water assets deal” by year end with Puncak Niaga Sdn
Bhd, Syarikat Bekalan Air Selangor Sdn Bhd (Syabas), Konsortium Abbas Sdn Bhd and Syarikat Pengeluar Air Sungai Selangor Sdn Bhd
(Splash).
Currently, the state government is “in negotiations with” Puncak Niaga Holdings Bhd to resolve the price issue, he said.
“We are confident of resolving this issue as long as both sides (Puncak Niaga and the Selangor government) accept the re-arrangement
of the deal,” said Khalid.
He also said the state is optimistic in buying over Gamuda Bhd’s stake in Splash.
Last week, Puncak Niaga said details of the state governement’s offer showed that the actual proceeds payable to all water concession
holders were far below the RM9.65 billion announced by the state government.
Sumatec Resources Bhd will be calling for a special press briefing for an update on progress in Rakuschechnoe Oil & Gas Field.
This company, which is linked to former corporate high flyer Tan Sri Halim Saad, has been a speculative stock.

Good morning Pak Cals, Susan Jie, Phoenix zai and comrades ...

Will be off to client site these 2 weeks ... Hope u all huat huat until CNY            

good morn winningheart ... we wish u all d best hope 2 c u back here huat kaw2 ..            .