Tuesday 31 March 2009.

DAILY MARKET REPORT.

Monday Markets Closing Prices.


KLCI 869.34 down 16.09.
DJIA 7,522.02 down 254.16 or 3.27%.
Crude Oil US$48.41.
June FCPO RM1,970.
Ringgit 3.6500.


LOCAL NEWS.

North Americans consuming more palm oil. Exports to U.S. expected to increase by 10% to 1.1 million tons this year.

No hike in water tariff on 1.4.2009, Selangor promises.

Proton Hldg Bhd, RM1.53, expects revenue of RM2 billion over 5 years from its deal with Detroit Electric Hldgs Ltd, a maker of electric cars.

Stock Recommendation - HOLD as Proton together with Perodua should benefit from the RM5,000 car scapping incentive and the introduction of MPV Exora should boost the Proton sales further.

CIMB Group says no pay leave open to all employees to reduce cost.

Stock Recommendation - TAKE PROFIT and SELL on BCHB at RM6.90. Buy back at the lower end of the trading range. Fair value at 1X net tangible assets of RM3.30. The exercise is a sign of things to come.

Chicken prices drop again by another 30 sen due to oversupply.


WORLD NEWS.

The US White House forced out GM's CEO and pushing Chrysler toward a merger and threatening bankruptcy for both companies.

Geithner says some banks need 'large amount' of assistance.


For further inquiries please call:-
Kamel Bin Mohd Yusoh.
Institutional Dealer.
Kenanga Investment Bank Bhd.
013-6306544 or 03-21634549/50.
March 31, 2009.