Dateline Thursday 15 January 2009.

DAILY MARKET COMMENTARY.

Wednesday Market Closing Prices.

KLCI 913.46 down 0.24 or 0.03%.
DJIA 8,200.14 down 248.42 or 2.94%.
Crude Oil US$37.28.
March FCPO RM1,903.
Ringgit 3.5700.

CORPORATE NEWS.

BCHB BHD RM6.75 (2009 Est. EPS 50 sen, Net Assets RM4.78, Dividend Yield 2.96%, PER 13.5X), has taken control of 92.04% of Bank Thai after shareholders with 49.91% of the latters accepted its tender offer closed on Jan. 6, 2009.

Stock Recommendation - Take Profit and Buy back at the lower end of the trading range of between RM5.55 to RM7.00 level.

UMW Holdings Bhd RM5.65 (2009 Est. EPS 40 sen, Net Assets RM3.13, Dividend Yield 3.56%, PER 14.1X), is acquiring a 60% stake in a power generator design and application firm Synergistic Generation Sdn Bhd for RM10m to boost its oil and gas division's operation.

Stock Recommendation - Take Profit on UMW Hldg Bhd and Buy back at the lower end of the trading range of between RM4.86 to RM5.65 level.

DAYANG ENTERPRISE HOLDINGS BHD RM0.80, gets RM150m contract fromPetronas unit to provide minor maintenance activities for PCSB starting Jan 1, 2009 to Dec 31, 2011. Dayang also gets 3 years RM50m contract on Nov 19 for provision of topside maintenance from Murphy Sabah.

Stock Recommendation - Based on a conservative net profit margin of 7.5%, the contracts will add a net profit of RM5 million or 0.04 sen to Dayang net EPS for the next 3 years.