Daily Commentaries 12th Sep 06
OSK Research
Technical View
The 955 level appears to be holding with the market crafting a base and oil prices retreating further. For today, Genting will likely get a lift upon re-quotation with the takeover offer for Stanley Leisure by GIL at 860 pence/share or RM4.36bn. Other key news items include Sime Engineering bidding for RM3bn worth of EPCC jobs in the Middle East and India while Boustead is planning for a RM500m Islamic plantation REIT. Also, renewed talks of the privatization of Lion Forest should continue to see active trading on the counter. Despite the US market closing slightly higher last night and the softer oil prices, we would expect the market to continue languishing within a tight range today in the absence of fresh leads.
Technical View
The 955 level appears to be holding with the market crafting a base and oil prices retreating further. For today, Genting will likely get a lift upon re-quotation with the takeover offer for Stanley Leisure by GIL at 860 pence/share or RM4.36bn. Other key news items include Sime Engineering bidding for RM3bn worth of EPCC jobs in the Middle East and India while Boustead is planning for a RM500m Islamic plantation REIT. Also, renewed talks of the privatization of Lion Forest should continue to see active trading on the counter. Despite the US market closing slightly higher last night and the softer oil prices, we would expect the market to continue languishing within a tight range today in the absence of fresh leads.
posted by nomadhunter at 8:57 PM
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