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Lunch break review – 13th Dec 2018

BURSA MALAYSIA (THU, 13 DEC 2018)

MID-DAYLUNCH BREAK REVIEW

BRIEF MARKET REVIEW:

The FBM KLCI pared some of its gains at the midday break today but still racked up0.66% in line with the surge at regional markets. At mid-day, the FBM KLCI rose10.94 points to 1,674.21. The index had earlier risen to a high of 1,677.91.

Gainers led losers by 335 to 320, while 307 counters traded unchanged. Volume was 921.51 million shares valued at RM707.64 million.

Meanwhile, shares in greater China jumped by mid-day on Thursday as Asian stocks broadly built on the momentum seen on Wall Street overnight. Trading in markets globally was volatile at the start of the week, but stabilized after news reports in recent days indicated an easing in tensions between the U.S. andChina.

A key development in Europe overnight is U.K. Prime Minister Theresa May winning a crucial vote of confidence in her leadership. The pound rose about 1 percent on the news.

May won the leadership challenge by200 votes to 117 votes against her in the ballot of Conservative members of parliament. Winning this vote means her leadership cannot be challenged for another year.

STOCKS IN THE LIMELIGHT:

CYPARK RESOURCES BHD (RM2.40, +1.27%)

Local media reported that CyparkResources Bhd has bagged two contracts worth a combined RM450 million to build a solar photovoltaic energy-generating facility in Sik, Kedah, and another one at Empangan Terip, Negeri Sembilan.

In separate filings with Bursa Malaysia yesterday, Cypark Resources said its wholly-owned subsidiary Cypark Ref Sdn Bhd has accepted the letters of award from Viva SolarSdn Bhd for the Sik project valued at RM225 million, and from Cypark EstuarySolar Sdn Bhd for the Empangan Terip project worth RM225 million on a turnkey basis.

Works on the two plants will commence on the date of notice issued by Viva Solar andCypark Estuary Solar respectively and the time of completion is to Aug 4, 2020. The stock closed mid-day at RM2.40, with a high volume of 106.9 thousand shares traded.


PROTASCO BHD (RM0.255, -1.92%)

Local media reported that Protasco Bhd said today its subsidiary HCM Engineering Sdn Bhd received a termination letter from Turnpike Synergy Sdn Bhd (TSSB) for the construction of the Sungai Besi-Ulu Kelang Elevated Expressway (SUKE) due to the delay in the project’s implementation.

Protasco Bhd closed at RM 0.255 mid-day on a volume of 295.5 thousand shares traded.

Prepared by:

Malacca Securities Quantitative Trading andAnalytics Division
BO1-A-13A, Level 13A, Menara 2,
No.3, Jalan Bangsar, KL Eco City,
59200 Kuala Lumpur
TEL: 03-2201 2100 (General)

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