Daily Commentaries 20th June 07

The KLCI ended firmer with continued interest in second liners while regional markets closed firmer yesterday. Main corporate news today is AMMB's offer of RM3.70 for the 49% share of AIGB and MAS's new management team to take it to the second phase to turnaround. TM’s CEO said the company’s expansion plan will be driven by demand and expects 3G customer base to accelerate in 2008. Pilecon has signed an MOU with the West Java government to develop water resources infrastructure while Bina Puri secured a RM8.6m contract in Brunei. The KLCI is likely to trade rangebound after Dow’s positive performance last night, testing the immediate resistance of 1,375.