Dateline January 5, 2009.

Friday Markets Closing Prices.


KLCI 894.36 up 17.61.
DJIA 9,034.69 up 258.30 on speculation of new fiscal stimulus.
Crude Oil US$46.34.
March FCPO RM1,740.
Ringgit 3.4770.


News.

- The Johor government is looking at a proposal by an international company to invest RM17 billion to construct an oil refinery at Teluk Ramunia in Kota Tinggi.

- Johor MB said the state government was assessing the effects of the project on the lives of fishermen and tourist centres in the area before giving approval.

- He was informed of the investment proposal through a letter from the Malaysian Industrial Development Authority recently.


Stock Market 1Q 2009 Outlook.

Stock market will remain buoyant in the 1Q09 to discount the news of the new U.S. President inauguration on Jan. 20 and the much anticipated huge fiscal stimulus for the next 2 years, traditional rally before the Chinese New Year on Jan. 24, UMNO election in March and Malaysia new Prime Minister taking office soon afterward.


Kamel bin Mohd Yusoh.
Institutional Dealer,
Kenanga Investment Bank Bhd.
013-6306544 or 03-21634549/50.