Wednesday April 1, 2009.

DAILY MARKET REPORT.

Tuesday Markets Closing Prices.


KLCI 872.55 up 3.21.
DJIA 7,608.92 up 86.90 or 1.16%.
Crude Oil US$49.66.
June FCPO RM2,000.
Ringgit 3.6430.


LOCAL NEWS.

Najib Razak to be sworn in as the new PM on Friday ?

BHIC Bhd set to deliver 7 ships worth RM1 billion this year. BHIC book order stood at RM2.3 billion inclusive of ships for delivery.

Stock Recommendation - BUY ON WEAKNESS for BHIC on low valuation.

KFC Hldg Bhd would spend RM30 million to open 40 new KFC outlets while QRS Brands Bhd would invest RM18 million on 15 new Pizza Hut outlets. Most of the would be located in the secondary towns and the new housing schemes within suburban areas nationwide.

Stock recommendation - BUY ON WEAKNESS for KFC , QSR and the ultimate parent company KULIM (M) Bhd on attractive valuation.


WORLD NEWS.

US home prices plunged at a record pace in January 2009 by 18.1% ( around 30% from peak in 2006) while consumer confidence held just above record low in March (at 26 from 25.3)according to data on Tuesday that showed no signs of a bottom for the lengthy recession.

The Institute for Supply Management Chicago index of busines activity fell in March 2009 at a rate that was more severe than expected.

GM's new CEO says it will have to shed more plants and jobs than planned ahead of a June 1 deadline to avoid bankruptcy.

World Bank had revised down its growth forecast for the world economy in 2009 to - 1.7%, below IMF's more recent forecasts but still well shy of a 4.3% contraction and double digit unemployment predicted on Tuesday 31.3.2009 by the Organization for Economic Cooperation and Development . The 30 members nation OECD predicted sharply lower than -0.4% the last forecast made in November 2008.


CORPORATE RESULTS.

Independend power provider and number forecast operator.,Tanjong PLC, posted a 74.3% drop in net profit to RM42.6 million in th 4Q ended January 31, 2009 due to RM141 million in refinancing costs related to loan facilities on two Egyptian plants.

Stock Recommendation - SELL and TAKE PROFIT.


For further inquiries please call:-
Kamel Bin Mohd Yusoh.
Institutional Dealer.
Kenanga Investment Bank Bhd.
013-6306544 or 03-21634549/50.
April 1, 2009.