Daily Commentaries 13th October 2009

The FBM KLCI closed 0.49-point lower, largely as a result of profit taking on CIMB. Today’s headlines are Malaysia’s August IPI declining 5.7%, Perisai forming a JV with Gryphon Energy for MOPSU related activities in the region, Zecon securing a RM182m construction contract, Rin Kei Mei emerging as a substantial shareholder of Perstima with a 32.8% stake, and Tradewinds’ board of directors have approved the acquisition of a 31.5% stake in Bernas. Meanwhile, Silk Holdings has had its PN17 status lifted. Finally, US stocks closed mixed and crude oil price was up marginally by US$1.26 at US$73.03. Meanwhile, CPO price gained RM62 to RM2,147 on bullish export data for the first 10 days of October.