Tuesday 24 March 2009.

DAILY MARKET REPORT.

Monday Markets Closing Prices.


KLCI 878.30 up 21 pts.
DJIA 7,775.86 up 497.48 or 6.84%.
Crude Oil US$53.56.
June FCPO RM2,030.
Ringgit 3.6410.


DPM Najib Razak said Malaysia had RM250 billion in excess liquidity to help the country's facing the current economic crisis.

Maybank Bhd, RM4.58, aims to break even the BII investment in five years. The CEO expects lower FY2009 net profit.

Stock Recommendation - Take Profit and SELL. Maybank Bhd fair value cum 9 for 20 rights isue at RM2.74 is 1X net tangible assets of RM3.70.


WORLD NEWS.

U.S government to provide up to US$1 trillion to buy bad debts from banking system and the taxpayers will fund almost all of the plan.

Analysis - Finally the U.S had managed to put the details plan in place to tackle the toxic assets problems but the financial and economic problems are far from over as the economy continue to deteriorate. This is still a multiyear problem not only for the U.S but also for the rest of the world. The immediate impact of the plan is excessive supply of the US dollar will weaken the US Dollar and the oil and commodities will rally benefitting the related companies stocks.

Global stocks markets surged yesterday as investor optimism grew ahead of the official launched of a U.S. government plan to purge banks of toxic assets.

China will continue to make US Treasury bonds the main investment vehicle for its forex holdings, an official said yesterday amid fears over the safety of China's assets in the U.S.


For further inquiries please call:-
Kamel Bin Mohd Yusoh.
Institutional Dealer.
Kenanga Investment Bank Bhd.
013-6306544 or 03-21634549/50.
March 24, 2009.