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Lunch Break Review – 2nd Jan 2019

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BURSA MALAYSIA (WED, 02 JAN 2019)

MID-DAY LUNCH BREAK REVIEW

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BRIEF MARKET REVIEW:

The FBM KLCI fell 1.08% at the mid-day break on the first trading day of 2019, following data showing that manufacturing activity in Malaysia in December suffered the sharpest deterioration in manufacturing business conditions since the survey began six-and-a-half years ago. At mid-day, the FBM KLCI lost 18.24 points to 1,672.34.

Losers led gainers by 448 to 213, while 259 counters traded unchanged. Volume was 1.10 billion shares valued at RM435.80 million.

Chinese shares slipped after a private survey showed manufacturing activity in China for the month of December contracting for the first time in 19 months.

Chinese President Xi Jinping told U.S. President Donald Trump on Tuesday that history showed cooperation was the best way forward for both the United States and China.

STOCKS IN THE LIMELIGHT:

UMW HOLDINGS BHD (RM5.46, -0.18%)

UMW Holdings Bhd has commenced voluntary winding up of four of its subsidiaries under the unlisted oil and gas segment.

The subsidiaries that have commenced liquidation are UMW Coating Technologies (Tianjin) Co Ltd, PFP (Shenzhen) Piping Materials Co Ltd, UMW China Ventures (L) Ltd and UMW Offshore Investment (L) Ltd.

UMW Holdings president and group chief executive officer Badrul Feisal Abdul Rahim said despite the volatile oil price environment, the group was making good progress on its planned strategic exit from the unlisted oil and gas segment with exit plans in place for the several remaining subsidiaries.

The stock closed at RM5.46 at mid-day on a low volume of 15,600 shares traded.

 

BRAHIMS HOLDINGS BHD (RM0.205, -26.79%)

Brahim’s Holdings Bhd shares slumped 26.8% at mid-morning today as Lembaga Tabung Haji continued to transfer its underperforming equities to the special purpose vehicle under the Ministry of Finance.

Filings with Bursa Malaysia on Dec 31 showed that the pilgrim fund had transferred its shareholdings in Brahim’s to Urusharta Jamaah Sdn Bhd.

Tabung Haji had transferred 45.55 million shares in Brahim’s to Urusharta Jamaah, and ceased to be a substantial shareholder in the firm.

 

The stock closed mid-day at RM0.205, down 26.79%, with a high volume of 226,400 shares traded.

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Prepared by:

Malacca Securities Quantitative Trading and Analytics 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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