October 15, 2009

EPF Might Pay Higher Dividends 2009

The FBM KLCI edged up 0.02-point to 1,246.86 as investors took profit after early gains. The key highlight include the EPF considering paying higher dividend provided there is no market disruption in the next 3 months, motor vehicle sales dip 5% m-o-m, Nam Cheong gets a US$22.5m Viet vessel deal, DBE acquires 51% of rival for RM30.6m, Public Bank’s 3Q net profit of RM639m came in largely in line with estimates and Supermax’s 3Q net profit almost tripled to RM40m. Overnight, the DJIA rose 47.08 pts to 10,062.94 as energy shares gained after oil climbed to a one-year high, helping the market reverse an early drop triggered by earnings at Citigroup Inc. and Goldman Sachs Group Inc. that disappointed some investors. We expect the local bourse to trade sideways while waiting for fresh leads, with immediate resistance and support at the 1285 pt and 1231.5 pt-levels respectively.


Post a Comment

<< Home