theSun | FRIDAY OCTOBER 30 2009 19

business KLCI 1,241.75  7.30

T Nikkei 9,891.10 T
183.95 KLCI
STI 2,632.31 T
16.67 TSEC 7,355.69 178.26
T Sensitivity
Hang Seng 21,264.99 496.59
T KOSPI 1,585.85 T
23.86 Company
SCI 2,960.47 T
70.86 S&P/ASX200 4,574.70 110.40
T

market summary OCTOBER 29, 2009

Maxis to attract Prices end

easier
SHARE prices on Bursa Ma-
laysia ended easier yester-
day as the market stayed in
INDICES
FBMEMAS
FBM-KLCI
INDUSTRIAL

INDUSTRIAL PRODUCT
CONSTRUCTION
CHANGE
8,313.00 -54.11
1,241.75
2,670.16
CONSUMER PRODUCT 365.11
92.16
232.73
-7.30
-9.09
-1.20
-0.85
-1.55

institutional
negative territory in tandem
TRADING SERVICES 160.40 -0.37
with the losses on regional FINANCE 10,441.14 -107.19
markets, dealers said. PROPERTIES 789.57 -9.04
The dealers also said in-
vestors had reassesed their
PLANTATIONS
MINING
6,112.53 -43.40
310.05 UNCH China to launch case against
risk on renewed concerns
over the pace of the global
FBMSHA
FBMACE
8,409.99 -45.09
4,259.10 -89.90
US Big Three automakers

investors: OSK
KUALA LUMPUR: Institutional
investors will have strategic
exposure to Malaysia’s largest
mobile operator Maxis Berhad in
view of its strong fundamentals
and earnings and robust prospec-
tive dividends going forward.
Stating this in an investment
research report, OSK Research
said while deprived of the longer
term growth potential with the
overseas assets hived off, Maxis
is a core holding for exposure to
Malaysia’s mobile telecoms.
Maxis is expected to be
ranked among the top five of
the FTSE Bursa Malaysia Kuala
Lumpur Composite Index (FBM
KLCI) when included in the next
review of the benchmark index
in December.
OSK Research noted that
Maxis will be listed without its
loss-making overseas opera-
tions.
“While investors would be
deprived of the strong longer
term potential of these assets, the
listing of its domestic operation
effectively removes the strain on
its cash flow, which was previ-
ously used to fund its expansion
overseas,” it said.
Maxis is offering 2.25 billion
shares as part of its “homecom-
ing initial public offering (IPO)”
via an offer for sale by its major
shareholders.
“We believe the relisting is
timely to capture the nascent
recovery in the domestic and
global capital markets and to tap
on the renewed appetite for fresh
equities,” OSK Research said.
“It would be the biggest IPO
for Bursa Malaysia this year,
boosting stock market velocity
economy, after discouraging TECHNOLOGY 16.88 -0.12 WASHINGTON: China has told the United States it is launch-
ing a trade investigation that could lead to new import duties
data on new housing sales TURNOVER VALUE on autos and sports utility vehicles made by Chrysler, Ford and
in the United States.
933.009mil RM1.301bil General Motors, a US industry official said yesterday.
FBM KLCI was 7.3 points
President Barack Obama angered Beijing last month by
lower at 1,241.75. slapping a 35% duty on imports of Chinese-made tyres which
For the heavyweights, Sime Darby eased nine sen to RM8.90, totalled about US$1.8 billion (RM6.12 billion) last year.
Maybank declined 12 sen to RM6.63, CIMB Group Holdings lost 12 sen China immediately challenged the action at the World Trade
and breadth in a single stroke,” to RM12.32 and Tenaga Nasional slid four sen to RM8.44. Organisation and also said it would launch an anti-dumping
it said. As for the actives, KNM Group declined two sen to 77.5 sen, and countervailing-duty investigation against US autos to offset
Post-IPO, both Tan Sri Ananda Ingress Corporation slipped seven sen to 76 sen, TPC Plus added one unfair pricing and government subsidies.
Krishnan and Saudi Telecom will sen to 30 sen and DPS Resources rose 1.5 sen to 19 sen. “The documents containing the charges were presented by
have effective control over Maxis Shares of autoparts suppliers such as Tracoma and Hirotako rose China to the US government this week, but have not yet been
via their direct shareholding in following the announcement of the revised National Automotive translated. Therefore we are not in a position to comment
Binariang. Policy on Wednesday. Hirotako rose 1.5 sen to 91 sen and Tracoma on the matter at this time,” Steve Collins, president of the
OSK Research said based on increased one sen to 30 sen. – Bernama American Automotive Policy Council, told Reuters.
the number of shares allocated
for institutional investors of 2.1
billion, some 31% or 626.1 mil-
lion shares, have been taken up
by bumiputra cornerstone inves-
tors during the pre-IPO stage.
“We expect Maxis to be in-
cluded in the FBM KLCI in the
next review of the index, slated
for early December. It could
potentially become the fifth larg-
est component of the FBM KLCI,
behind Maybank,” it said.
OSK Research believes that
intense competition in the mobile
market will continue to pressure
Maxis’ revenue and margins go-
ing forward.
This is further compounded
by slowing subscriber growth
with mobile penetration hitting
an estimated 118.3% by end-
2010, it said.
“While Maxis has a strong
following in the prepaid and
postpaid segment, its dominance
has and will continue to be
threatened by the rejuvenated
Celcom and an agile DiGi,” it
added.
According to OSK Research,
given the slowdown in sub-
scriber growth, the key focus for
mobile operators will be on the
under-penetrated areas where
mobile penetration is still low.
The opportunity lies in
the rural markets, it said.
– Bernama

EXCHANGE RATES October 29, 2009

Foreign currency Bank sell Bank buy Bank buy

TT/OD TT OD
1 US DOLLAR 3.4800 3.4150 3.4050
1 AUSTRALIAN DOLLAR 3.1320 3.0380 3.0220
1 BRUNEI DOLLAR 2.4840 2.4220 2.4140
1 CANADIAN DOLLAR 3.2260 3.1460 3.1340
1 EURO 5.1170 5.0120 4.9920 Ancelotti
1 NEW ZEALAND DOLLAR 2.5260 2.4140 2.3980 won’t get
1 PAPUA N GUINEA KINA 1.4550 1.2050 1.1890 carried
1 SINGAPORE DOLLAR 2.4835 2.4220 2.4140
1 STERLING POUND 5.6940 5.5780 5.5580
away by
1 SWISS FRANC 3.3950 3.3100 3.2950 free-
100 ARAB EMIRATES DIRHAM 96.4200 91.3100 91.1100 scoring
100 BANGLADESH TAKA 5.1500 4.7860 4.5860 Blues
100 DANISH KRONE 70.9200 65.1700 64.9700 pg 35
100 HONGKONG DOLLAR 45.7000 43.2800 43.0800
100 INDIAN RUPEE 7.6200 7.0000 6.8000
100 INDONESIAN RUPIAH 0.0376 0.0330 0.0280
100 JAPANESE YEN 3.8600 3.7660 3.7560
100 NORWEGIAN KRONE 62.5000 57.3800 57.1800
100 PAKISTAN RUPEE 4.2700 4.0000 3.8000
100 PHILIPPINE PESO 7.4300 6.9700 6.7700
100 QATAR RIYAL 97.0400 92.3100 92.1100
100 SAUDI RIYAL 94.2300 89.6300 89.4300
100 SOUTH AFRICAN RAND 46.0800 42.1800 41.9800
100 SRI LANKA RUPEE 3.1300 2.8800 2.6800
100 SWEDISH KRONA 51.0300 46.4100 46.2100
100 THAI BAHT 11.1400 9.4400 9.0400
Source: Malayan Banking Berhad/Bernama