Premier Wealth Builder

Thursday, January 7, 2021

Corporate News

•BlackRock, which holds a 1.61% stake in Top Glove Corp Bhd, voted against the election of six independent directors at the rubber glove maker's annual general meeting today, as it is of the view that the board had failed in its duty to mitigate the issues of migrant workers' health and safety. The six independent directors are Datuk Lim Han Boon, Datuk Noripah Kamso, Datuk Norma Mansor, Tan Sri Rainer Althoff, Sharmila Sekarajasekaran and Lim Andy.

•Hartalega Holdings Bhd and its two subsidiaries are suing its former executive director Danaraj Nadarajah, accusing him of having set up a competing business using one of the unit's resources during his tenure with Hartalega. They are seeking a declaration that he had breached his fiduciary duty, his duty of fidelity to the three companies, as well as his contract, and to claim for damages for his actions

•Techfast Holdings Bhd plans to diversify into petroleum trading and oil bunkering by acquiring a 35% stake in a company that supplies marine fuels. The group said it is buying the stake in CCK Petroleum Sdn Bhd from Kuah Choon Ching for RM26.25 million, of which RM16.17 million will be paid in cash and the balance via the issuance of 23.44 new Techfast shares at 43 sen per share. It added that Kuah has issued a profit guarantee of RM10 million for CCK Petroleum in FY21 and FY22. Techfast also announced a private placement of 75.29 million shares or 30% of its total share capital to raise RM28.23 million.

•LBS Bina Group Bhd plans to launch projects worth an accumulated gross development value of RM2.65 billion this year. The group continues to adapt to new norms and shift its marketing strategies through digital platforms. New developments in the pipeline in the Klang Valley include new phases at the KITA @ Cybersouth township in Dengkil which consist of serviced apartments, single- and double-storey terraced houses and town houses.

•Censof Holdings Bhd has bagged a RM10.12 million contract from the Ministry of Finance to undertake the provision of maintenance and support services for the latter's budget management information system, MYResults. Censof said the contract carries a tenure of two years from Jan 1, 2021.

•Supercomnet Technologies Bhd will be reclassified under the healthcare sector effective from Jan 11. It is currently classified under the industrial products and services sector.

•Cymao Holdings Bhd, which was issued an unusual market activity (UMA) query by Bursa Malaysia yesterday, said it is unaware of any corporate development, apart from its proposed diversification into construction and project management. The plywood products maker said the board believes that the proposed diversification is expected to provide additional revenue streams and enhance the group's profits, thereby reducing its dependence on its existing business and subsequently improve the group's financial performance and shareholders' value. The group will also continue to secure more construction-related contracts.

•Sanichi Technology Bhd has emerged as a substantial shareholder of BCM Alliance Bhd, after acquiring 50.77 million shares or a 10.54% stake in the company via off-market trades. Sanichi purchased the said stake for RM21.83 million, according to a filing with Bursa Malaysia yesterday. In short, this means Sanichi spent 43 sen on each share in BCM Alliance. The acquisition was funded by internally-generated funds.

•AwanBiru Technology Bhd (Awantec), formerly known as Prestariang Bhd, is collaborating with Huawei Technologies (Malaysia) Sdn Bhd to drive and promote the adoption of Huawei Cloud and artificial intelligence (AI) products and services in the public sector. Under this collaboration, Huawei will act as Cloud and AI Service Provider, offering its cloud products and services. Awantec, on the other hand, will act as managed services partner and drive demand and adoption for Huawei's products and services.

•Yong Tai Bhd, which last month proposed the development of a China-based company’s Covid-19 vaccine in Malaysia, today signed up Tiong Nam Logistics Holdings Bhd to provide distribution services for the vaccine. Under the deal, Tiong Nam’s subsidiary Tiong Nam Logistics Solutions Sdn Bhd will provide logistics services, which also include transportation and warehouse space storage for the vaccine. On Dec 4 last year, Yong Tai inked a heads of agreement with Shenzhen Kangtai Biological Products Co Ltd for the development and exclusive commercialisation of the latter’s inactivated Covid-19 vaccine in Malaysia. Today, Yong Tai signed an extension letter with the Chinese company to work towards a more definitive commercialisation agreement by Feb 3.

•SP Setia - More launches in the pipeline for FY21F (Maintain Add with a TP of RM1.06)

Wednesday, January 6, 2021

The top gainers and losers on Bursa in 2020

Technical Analyzer

EG Industries (8907)
Outlook: Pending breakout MYR0.61
Levels: MYR0.69, MYR0.75
Exit: MYR0.57
(time frame: 2-4 weeks)

JHM Consolidation (0127)
Outlook: Pending breakout MYR1.97
Levels: MYR2.10, MYR2.20
Exit: MYR1.87
(time frame: 2-4 weeks)

FoundPac (5277)
Outlook: Breakout MYR0.97
Levels: MYR1.05, MYR1.10
Exit: MYR0.97
(time frame: 2-4 weeks)

D’nonce Technology (7114)
Outlook: Breakout MYR0.495
Levels: MYR0.53, MYR0.56
Exit: MYR0.495
(time frame: 2-4 weeks)

SKP Resources (7155) (RM2.20): Technical Buy

Targets: RM2.29, 2.40

Stop: RM2.04

Greatech Technology (0208) (RM9.70): Technical Buy

Targets: RM10.50, 11.00

Stop: RM8.91

Corporate News

•* Top Glove Corp Bhd* sprang a surprise on investors by announcing that the company will be declaring a special dividend of 20% for the remaining financial quarters in the financial year ending Aug 31, 2021 (FY21).Top Glove said the move is in recognition of its good profits and strong cash flow, as well as to reward its shareholders. The special dividend will be on top of its existing dividend policy of a 50% payout ratio on profit after tax and minority interests (PATAMI). Top Glove shareholders will receive 70% of the company’s PATAMI as dividend.

•* Malaysian Resources Corp Bhd and George Kent (M) Bhd* joint venture (JV) and Light Rail Transit 3 (LRT 3) contractor MRCB-George Kent Sdn Bhd (MRCBGK) said Prasarana Malaysia Bhd’s payment on Oct 2, 2020 were only for construction works done up to end-June 2020. MRCBGK said Prasarana’s delayed payments of more than RM700 million were from July 2020 to October 2020, which have been certified for payment by Prasarana’s independent consultant KL Prima Consult Sdn Bhd. As of October 2020, the certified payment owed to the contractor is RM723.89 million, while November 2020’s payment amount is still pending certification. Prasarana's non-executive chairman Datuk Seri Tajuddin Abdul Rahaman told a press conference today that Prasarana had paid RM3.47 billion to MRCBGK up to Oct 2, 2020. He also said Prasarana had not withheld any payments to MRCBGK.

•* Destini Bhd* has bagged an extension for its maintenance, repair and overhaul (MRO) contract with the Royal Malaysian Air Force. The extension is for a one-year period from Oct 3, 2020. The contract is also for the supply of safety and survival equipment to the RMAF. The contract ceiling is about RM30.37 million.

•* T7 Global Bhd* has secured a 10-year contract from Petronas Carigali Sdn Bhd for the leasing, operation and maintenance of a mobile offshore production unit (MOPU) for Phase 2 of the Bayan gas redevelopment project.T7 Global did not reveal the value of the charter contract, inked on Nov 25, 2020, other than saying it is based on prices stipulated in the contract, and that the agreement's effective date is Feb 1, 2020.

•* New Hoong Fatt Holdings Bhd* said 79 of its employees tested positive for Covid-19 at its plastic parts production factory in Meru, Klang.They were among 337 foreign and Malaysian workers of the group's wholly-owned subsidiary Auto Global Parts Industries Sdn Bhd (AGP) who underwent a mass planned screening test on Dec 30, 2020. This is a follow-up to an earlier screening test at AGP's metal parts production factory in Meru on Dec 24, 2020, which saw 94 infections among 314 employees tested.The affected metal parts production factory had been closed from Dec 25 until further notice to contain potential infections.

•* Aeon Credit Service (M) Bhd* reached an out-of-court settlement with the Inland Revenue Board (IRB) today under which the unpaid taxes sought from the company have been significantly reduced. Aeon Credit said the amount sought from the financial services company, inclusive of penalties, has been brought down to RM10.31 million, from RM96.82 million previously. It added that the taxman has agreed to withdraw the legal proceedings launched against the company at the High Court, while Aeon Credit has agreed to withdraw its appeal before the Court of Appeal.

•* Ageson Bhd’s* 75%-owned subsidiary Ageson Holdings Sdn Bhd (AHSB) has inked a development rights agreement with Menteri Besar Inc (Perak) to develop a mixed development with an estimated gross development value of RM1.24 billion on some 475 acres of land in Batang Padang district in Perak. The development will comprise a District Health Department Office, a District and Land Office, a District Council Office, a Community Development Department Tapah office, together with 365 units of shop offices, 1,038 units of terrace houses, 332 units of semi-detached houses, 191 units of detached houses, and 33 units of industrial lots. The project, which is expected to commence in the first quarter of this year and be completed in 15 years. Separately, it announced that it will pay part of an outstanding sum it owed to RHB Bank Bhd. Ageson did not disclose the sum involved. RHB had filed a suit against the group over a RM33 million term loan.

•* Focus Dynamics Group Bhd* has proposed to split each of its shares into three shares in a move to improve the trading liquidity of the shares.The share split will take place based on an entitlement date to be determined later, and is expected to be completed by the first quarter of this year. Focus Dynamics said as at Dec 29, 2020, the group’s issued share capital stood at RM203.79 million, comprising 6.15 billion shares.

Range bound mode pending further fresh catalysts

KLCI: 1608.3 (+5.8 pts)

DOW: 30391 (+167 pts)

FCPO: RM3755/ MT (+31)

BRENT: US$53.6 / bbl (+2.6)

USD: 4.0162(+0.0107 pts)

SGD: 3.0430 (-0.0006 pts)

EUR: 4.9260 (+0.0044 pts)

GBP: 5.4418 (-0.0444 pts)

US: 10-yr yield (+0.04 to 0.95%)

BNM: 10-yr yield (-0.01 to 2.58%)

Cut off time: 8.15 am (6 Jan 2021)

Global Asian markets ended on a mixed tone as investors braced for the outcome of a Georgia Senate runoff elections and concerns that the ever-rising number of Covid-19 cases would delay a global economic recovery. Pending the outcome of the Georgia election run-offs, the Dow rose 167 pts higher to 30391, boosted by energy stocks as Brent rallied 4.8% to USD53.6 amid a surprise Saudi production cut to offset a rise in output from OPEC+, led by Russia and Kazakhstan.

Malaysia KLCI slid as much as 18.5 pts to 1589.8 as sentiment was hit by the resumption of RSS and elevated Covid-19 cases and clusters in Malaysia, before staging a strong rebound to end 5.8 pts higher at 1608.4, led by the recovery in glove companies, IHH, TENAGA and MAXIS. Overall, market breadth was still negative, with losers thumped gainers by 676-479 whilst a total of 6.25bn securities were traded for RM4bn vs 7.42bn shares valued at RM5.9bn on 4 Jan. After net disposal of RM852m on 4 Jan, foreign investors turned into net buyers (RM42m) whilst the local institutional investors and retailers were the net sellers with RM20m and RM22m in equities, respectively.

Outlook In the absence of immediate-term drivers, KLCI may continue to extend consolidation (weekly supports: 1562-1575; resistances 1618-1638), as investors digest more news flows about the resurgence of Covid-19 pandemic, vaccine distributions and challenges faced by nations in vaccinating their citizens coupled with the resumption of RSS. Nevertheless, optimism on economic recovery amid the multiple Covid-19 vaccine breakthroughs, a combination of continuing fiscal and monetary stimulus, the low-interest rates environment and China's firmer economic recovery will continue to underpin interests on the equity market. Meanwhile, surging oil prices, soybean prices and FCPO may provide some trading interests among the O&G (ARMADA, SERBADK, MISC, DIALOG and DAYANG) and plantation (HSPLANT, IJMPLNT, FGV, TSH, CBIP and JTIASA) sectors.

Astro Malaysia - A new Astro: remaking of a growth story (Maintain Add with a TP of RM1.18)

Agribusiness - Palm oil stock preview for Dec 2020 (Maintain Neutral)

Tech Manufacturing Services - What to look out for in CY21F (Maintain Overweight)

Short Selling

Tuesday, January 5, 2021

Technical Analyzer

Unisem (M) (5005)
Outlook: Breakout MYR6.15
Levels: MYR6.65, MYR7.00
Exit: MYR6.15
(time frame: 2-4 weeks)

Dufu Technology (7233)
Outlook: Breakout MYR3.30
Levels: MYR3.65, MYR4.00
Exit: MYR3.30
(time frame: 2-4 weeks)

Pertama Digital (8532)
Outlook: Breakout MYR0.35
Levels: MYR0.395, MYR0.42
Exit: MYR0.35
(time frame: 2-4 weeks)

Ranhill Utilities (5272)
Outlook: Breakout MYR0.84
Levels: MYR0.915, MYR0.98
Exit: MYR0.84
(time frame: 2-4 weeks)

Corporate News

Monday, January 4, 2021

RHB Research Buy Call: Dialog, MISC, Armada & Magnum

Dialog, which operates as a technical service provider in the oil, gas (O&G) and petrochemical sectors, was upgraded to "buy" from "neutral" as its recent share price weakness offers an opportunity to accumulate the stock. The stock's target price (TP) was maintained at RM4.

“Although the firm may not be able to achieve growth in FY21 (the financial year ending June 30, 2021) as there are no signs of retracement in tank terminal rates, Dialog deserves a premium valuation as its growth trajectory is expected to return in FY22,” noted RHB Research analyst Sean Lim.

He explained that while downstream activities would recover gradually from the first quarter ended Sept 30, 2020 (1QFY21), on a full-year basis they would still record a decline.

"Management guided for joint venture (JV) and associate contributions to grow 10% year-on-year (y-o-y) in FY21. Further growth may be seen in FY22, with commercialisation of the 430,000 cbm Phase 3A capacity expansion
dedicated for BP by mid-2021," he said.

“It may also take longer than expected to seal the new additional tank terminal capacity expansion for Pengerang's Phase 3 as most clients are spending cautiously at present”, said Lim.

Lim also pointed out that Dialog’s Pengerang Independent Terminals Sdn Bhd (PITSB) had been operating at optimal capacity despite the recent spike in oil prices. Meanwhile, rates were hovering above USS$6 to USS$7 per cubic metre (cbm).

"Based on our crude oil price forecasts of US$51-US$55/bbl for 2021-2022, there is a possibility of onshore storage prices softening slightly from peak rates, but this could be sustained at USS$5.50 per cbm. Recall that the average contract tenure for PITSB is about 12 months," he noted.

MISC, which provides international energy-related maritime solutions and services, had its "buy" call maintained but its TP lowered to RM8.11 from RM8.53, in tandem with reduced valuation of its petroleum segment to 1.1 times price-to-book value from 1.3 times prior.

"We believe the recent share price weakness has factored in the sluggish tanker market and this could be an accumulation opportunity to position for a rate recovery in 2021. Post earnings adjustment, we still expect
its operating cash flow to grow 9% to 10% in the next two years, anchored by new asset additions. [Its] dividend yield is still decent and any special dividend will be a positive surprise," said Lim in a separate research note.

He believes that recovery will be gradual as OPEC+ slowly increases production of oil with a monthly cap of 500,000 barrels per day, depending on market conditions, but is optimistic that an economic recovery will happen in the second half of the year (2H21), thanks to positive vaccine developments.

"Thus, we should see spot charter rates improve from current levels, benefiting from improving tanker demand, coupled with persistence of low slow fleet growth as evident from its multi-year low order book level. A higher term-to-spot ratio of 65:35 in 3Q20 (from 76:24 in 2Q20) is likely to increase its exposure to weak spot rates in 4Q20," he said.

Lim noted that MISC had also recently taken possession of two Dynamic Positioning Shuttle Tankers and the first of its Very Large Ethane Carriers, and is expected to take possession of more ships over the next two years. "Most of these vessels have long-term contracts and will then gradually strengthen its recurring cash flow," he said.

Bumi Armada, which is an international offshore oilfield services provider, also had its "buy" call maintained with a new TP of 43 sen from 38 sen earlier.

"We continue to like Bumi Armada for its improved earnings and cash flow visibility, underpinned by stable FPSO (floating production storage and offloading) contributions masking weaker offshore marine services (OMS) weakness. Its risk-reward profile looks attractive as the current 5.2 times FY21 (the financial year ending Dec 31, 2021) price-to-earnings and 0.5 times FY20 price-to-book value (-1.5 standard deviations to its three-year mean) reflects an elevated 2.6 times net gearing as at 3Q20," said Lim in another statement.

Its TP, meanwhile, was raised after narrowing the discounted cash flow of the Armada Kraken FPSO to 10% from 20% earlier, due to better vessel stability. He noted that its FPSO earnings could have risen on a quarterly basis in 4QFY20 on higher contributions from Armada Kraken after its scheduled maintenance was completed in September.

"Our new TP implies 6.4 times FY21F (forecasted) price-earnings ratio and 0.6 times FY21 forward price-to-book value. Our base-case assumption is that Bumi Armada will refinance the borrowings due in May, so no equity fundraising would be required," he said, referring to RM656 million in short-term debt due that month.

Lim said while the OMS segment is expected to still face headwinds in 4Q20 — in the absence of subsea work orders and potentially lower offshore service vessel (OSV) utilisation rates due to the monsoon season — he believes that OSV contributions could improve in 2021. "This may stem from higher vessel demand on drilling and related projects, while Bumi Armada pushes for better spot charter rates."

Magnum, which operates as a gaming or numbers forecasting lottery business, was maintained at "buy" with a higher discounted cash flow-derived TP of RM2.97 from RM2.73.

“This was due to the tax review finally being concluded after the final settlement of the tax and penalty payment was agreed with the Inland Revenue Board (IRB) for an amount lower than expected," said analysts Loo Tungwye and Lee Meng Horng in a research note. Magnum made a settlement of tax payment with the IRB at RM80.6 million, 56% lower than the RM182.8 million initially expected.

The analysts said their projected earnings for 2020 to 2022 remained unchanged as the tax settlement was a non-recurring item, while their dividend per share estimates for 2020 to 2021 also stayed the same as they believe that Magnum's operations can generate enough cash flow to cover the settlement and maintain its regular dividend.

“Magnum remains our preferred pick as a pure-play numbers forecast operator (NFO) on account of its resilience in the 4D business that could benefit from ongoing government efforts to curb illegal gambling”, said the analysts.

They added that ticket sales had improved significantly since its outlets reopened in June, and sales were now at around 85% to 90% of pre-pandemic levels.

"Further earnings upside could come from the legislation of stricter gambling laws and potential monetisation of its stake in U-Mobile," the analysts said.

Technical Analyzer

Dataprep Holdings (8338)
Outlook: Breakout MYR0.17
Levels: MYR0.195, MYR0.205
Exit: MYR0.17
(time frame: 2-4 weeks)

Niche Capital Emas (7139)
Outlook: Breakout MYR0.23
Levels: MYR0.255, MYR0.275
Exit: MYR0.23
(time frame: 2-4 weeks)

JCY International (5161)
Outlook: Breakout MYR0.51
Levels: MYR0.555, MYR0.58
Exit: MYR0.51
(time frame: 2-4 weeks)

Securemetric (0203)
Outlook: Breakout MYR0.145
Levels: MYR0.185, MYR0.20
Exit: MYR0.145
(time frame: 2-4 weeks)

Stock Name: MALAKOF (5264)

Entry: Buy around RM0.91

Target: RM0.95 (4.4%), RM0.975 (7.1%)

Stop: RM0.88 (-3.3%)

Shariah: Yes

Technical: Flag-formation breakout

Stock Name: SCOMNET (0001)

Entry: Buy above RM1.87

Target: RM2.00 (7.0%), RM2.06 (10.2%)

Stop: RM1.82 (-2.7%)

Shariah: Yes

Technical: Technical Rebound

1) XIANLNG (7121)

Resistance/阻力: RM0.630, RM0.660

Support/支撑: RM0.550, RM0.520

Last closing price/市价: RM0.585

2) GUOCO (1503)

Resistance/阻力: RM0.660, RM0.700

Support/支撑: RM0.605, RM0.580

Last closing price/市价: RM0.620

Corporate News

•The Roundtable on Sustainable Palm Oil (RSPO) said today it has launched an immediate investigation into new violations by Sime Darby Plantation Bhd as alleged by the US Customs and Border Protection (CBP) following the issuance of a withhold release order against the company's palm oil at all US ports of entry. The RSPO said it can confirm that an initial review of audit findings earlier this year did not generate any red flags against Sime Darby Plantation. Meanwhile, Sime Darby Plantation said it is reviewing the action taken against the group by the CBP to better understand the potential impact. The group said the CBP's news release on the matter did not provide sufficient information to allow Sime Darby Plantation to meaningfully address the allegations that triggered the action.

•* Malakoff Corp Bhd's* wholly owned subsidiary Tanjung Bin Energy Sdn Bhd (TBE) has proposed to issue RM4.5 billion worth of Islamic bonds or sukuk, the proceeds of which will be used to repay money owed by TBE to its 100%-owned turnkey contractor, said RAM Ratings. RAM has assigned a preliminary "AA3/Stable" rating to TBE's proposed RM4.5 billion Islamic medium term notes programme. RAM said in a note that the preliminary rating is anchored by TBE's strong project economics underscored by the PPA's terms.

•Loss-making Top Builders Capital Bhd (formerly known as Ikhmas Jaya Group Bhd) has obtained court orders to restrain its creditors from taking action against the group and its assets, as well as to summon them to attend meetings for the purpose of discussing restructuring arrangements. Top Builders said the High Court had granted the orders to the piling and engineering group, its wholly owned subsidiary Ikhmas Jaya Sdn Bhd, and indirect wholly owned unit Ikhmas Equipment Sdn Bhd. The orders under the Companies Act 2016 were obtained as part of Top Builders' overall restructuring and rehabilitation plan by way of a proposed scheme of arrangement with its creditors, the group said.

•Bursa Malaysia Securities has maintained the upper limit for Toyo Ventures Holdings Bhd's shares and its warrants (Toyoven-WB), after they hit limit-up over two consecutive days. The regulator said the upper limit price for the shares of Toyo would be maintained at RM1.69, and for the warrants, 79.5 sen.

•* Mudajaya Group Bhd* said its 76%-owned indirect subsidiary Bera Hydropower Sdn Bhd has been selected as one of the successful bidders in a competitive Feed-in Tariff e-bidding small hydro tender exercise by the government. It said Bera Hydropower will enter into a renewable energy power purchase agreement with Tenaga Nasional Bhd for the project located in Pahang at the installed capacity and tariff rate of 30MW and 29 sen per kWh respectively for a period of 21 years.

•* Hong Seng Consolidated Bhd* said it is acquiring a 60% stake in Neogenix Laboratoire Sdn Bhd for RM6.5 million from Neogenix's shareholder Neoh Cheu An. Neogenix is a medical diagnostic and research laboratory and provides more than 76 tests ranging from infectious diseases, oncology, precision medicine, generic tests and et cetera.

Separately, the group also said it is acquiring a 32% stake in eMedAsia Sdn Bhd from Open Dynamics Sdn Bhd for RM3 million, via the issuance of three million new Hong Seng shares. eMedAsia currently runs a medical digital platform under the domain name of www-emedasia-com, which provides online clinic appointments and an e-commerce marketplace for clinics to purchase pharmaceutical, medical and healthcare supplies.

US Market : The Dow Jones Industrial Average and S&P 500 rose to all-time highs on Thursday as Wall Street wrapped up one of the most volatile years for the market in recent memory. The Dow closed 196.92 points higher, or 0.7%, at 30,606.48. The S&P 500 climbed 0.6% to 3,756.07, while the Nasdaq Composite advanced 0.1% to 12,888.28. The major averages hit their session highs with less than one hour left of trading.

Europe Market : The dollar was ending 2020 in a downward spiral on Thursday with investors wagering a global economic recovery will suck money into riskier assets even as the yawning U.S. twin deficits argue for an ever cheaper currency. The euro steamed ahead to $1.2281, having hit its highest since April 2018 with a gain of almost 10% for the year. The next stops for the bull train are $1.2413 and $1.2476, on the way to the 2018 peak at $1.2555.

Precious Metal Gold : Gold prices were little changed in holiday-thinned trade on Thursday, but the yellow metal was en route to register its best annual performance in a decade. Spot gold was almost flat at $1,893.84 per ounce, but was up more than 24% for the year, its best since 2010. U.S. gold futures were up 0.3% to $1,898.70.

Crude Oil : Global crude prices advanced on Thursday, but lost more than a fifth of their value in volatile trade in 2020, as lockdowns to combat the novel coronavirus depressed economic activity and slammed fuel demand. Still, Brent and U.S. crude benchmarks have more than doubled from April’s decade lows. The start of coronavirus vaccinations bolstered demand in the fourth quarter, and prices recovered to the highest in about 10 months.

Indices & Commodities :

DJIA: 30,606.48 (+196.92)
S&P500: 3,756.07 (+24.03)
NASDAQ: 12,888.28 (+18.28)
DAX: 13,718.78 (-42.60)
FTSE: 6,460.52 (-95.30)
EuroStoxx50: 3,571.59 (-9.78)
Comex Gold: 1901.6 (+1.7)
Copper: 3.5200 (-0.03)
WTI Crude Oil: 48.42 (+0.02)
Brent Crude Oil: 51.91 (+0.28)
Soybean Oil: 42.44 (+0.58)
FCPO: 3,602 (+14)

Economic Events:

09:45 CNY Caixin Manufacturing PMI (Dec)
16:55 EUR German Manufacturing PMI (Dec)
17:30 GBP Manufacturing PMI (Dec)

FX & Bonds :

USD/MYR – 4.022
EUR/USD – 1.218
GBP/MYR – 5.501
AUD/MYR – 3.094
SGD/MYR – 3.043

31/12/2020 Bursa Trade Stat :

Retail (43.74%) - net BUY 44 mil
Institution (40.77%) - net BUY 32 mil
Foreign (15.50%) - net SELL 76 mil
Total traded value 3,110 mil