The Star Online: Business
The Star Online: Business |
- Malaysia's blue chips advance in cautious trade
- Foreign funds net buyers of Malaysian equities at RM27.6m
- TTDI Ascencia condo will have rail connection
| Malaysia's blue chips advance in cautious trade Posted: 28 Jan 2013 06:36 PM PST KUALA LUMPUR: Malaysia's blue chips rose on Tuesday after an extended weekend, with the FBM KLCI rising to a high of 1,646 before some mild profit taking set in, mirroring the cautious Asian markets. At 10.15am, the FBM KLCI was up 2.16 points to 1,639.29. Turnover was 259.17 million shares valued at RM308.55mil. There were 180 gainers, 228 losers and 227 counters unchanged. Reuters reported Asian shares rose on Tuesday after solid US data, but investors remained cautious ahead of more US economic reports and a Federal Reserve policy decision later in the week that may offer clues to the Fed's stimulus plans. Maybank KE Research said in its technical outlook report that after the KLCI tumbled 39.34 points to close at 1,637.10 last Friday, the very weak support areas for the index were in the 1,602 to 1,634 zone. "The key resistance levels of 1,637 and 1,699 will see some heavy liquidation activities," it said. Among the gainers were PPB Group, up 24 sen to RM12.46 and KLK 20 sen higher at RM22.06. Lafarge added 23 sen to RM9.63, F&N and UMW 16 sen each to RM18.14 and RM12.26 while HLFG rose 12 sen to RM13.82. MMHE and MISC rose 10 sen each to RM4.30 and RM4.45 while Faber Group added nine sen to RM1.48. IHH fell six sen to RM3.245 in active trade, with 4.18 million shares done. Its call warrants IHH-CO lost six sen also to 20 sen. BAT was the top loser, down 34 sen to RM58, Tasek and Genting Plantations 10 sen each to RM14.40 and RM8.45 while HL Bank shed eight sen to RM14,14, Top Glove and Maxis seven sen each to RM5.18 and RM6.31. |
| Foreign funds net buyers of Malaysian equities at RM27.6m Posted: 28 Jan 2013 06:12 PM PST KUALA LUMPUR: Foreign funds were net buyers of Malaysian equities in the week ended Jan 25, 2013, though at a very much smaller scale of RM27.6mil of equities in the open market, MIDF Equities Research said. The research house said on Tuesday despite the sell-off on Jan 21, it said foreign funds remained net buyers of Malaysia equities for the seventh week in a row, albeit marginally. "On a net basis, foreign investors bought RM27.6mil in the open market, compared with RM952.2mil the week before," it said. MIDF Research said this was hardly surprising amidst the strong tide of global liquidity that is currently washing ashore Asian Emerging markets. "Foreign funds were only marginal net sellers on three out of four trading days last week. They were buying on weakness on Tuesday, the second day of the sell-off, indicating that foreign fund managers find value in Bursa when the KLCI is at around the 1,620 mark," it said. The research house said for the year until last Friday, foreign investors bought net RM2.09bil of Malaysian equity. In 2012, they bought net RM13.7bil of equities. "We believe the initial selloff on Monday was triggered and exacerbated by speculative retailers as their participation rate (gross purchase and sale) surged to RM1.13bil on the day, the first time it exceeded the mark since October. Local retailers were net sellers throughout the week, offloading net RM203.6mil, the highest in a week since September. "This, we believe, was also attributable to momentum selling from the week before. Foreign investors were not aggressively selling on Monday and effectively squared their position on the day. They were back buying on Tuesday," it said. MIDF Research said local institutions were clearly in the market to support prices. Participation rate (average daily gross purchase and sale) surged to RM2.18bil, the highest since August 2012. Local institutions mopped up net RM176mil last week, the first buying in seven weeks. |
| TTDI Ascencia condo will have rail connection Posted: 28 Jan 2013 05:44 PM PST PETALING JAYA: The close proximity to the upcoming Taman Tun Dr Ismail (TTDI) My Rapid Transit (MRT) station is TTDI Ascencia's selling point which will attract potential buyers or investors. According to Naza TTDI Sdn Bhd senior general manager for marketing and sales Mohd Johan Shadzli Mohd Daud, its location will enable residents in the upcoming condominium development to "have a seamless connection" to the MRT and wider rapidly developing rail networks in the country. "We expect that once we officially launch this, TTDI Ascencia will be easily sold due to the MRT station factor. With the MRT station, residents (here) can take the train to places such as 1 Utama, The Curve or even Kajang. It's convenient to escape road congestion," Johan said. The entrance of the 36-storey freehold condominium development is located several metres away from the staircase leading up to the overhead bridge that leads to the TTDI MRT station, according to the building model showcased at its sales gallery. The development consists of 154 units on 0.9 acre with individual sizes ranging from a studio of 520 sq ft-1,600 sq ft with internal configurations of one to three bedrooms. "Sitting on a small land size of 0.9 acre, we have to ensure that the design is maximised yet accomodative to the size (of land) we have. We are also mindful that per unit sizes cannot be (too) big because selling prices per sq ft is not cheap today," he said. TTDI Ascencia is designed by GDP Architects and units are semi-furnished with kitchen cabinet, hood, hob, wardrobe in the master bedroom, hot water supply, a minimum of two air-conditioners and plaster ceiling. The early bird package which will be offered for a limited time will give buyers a 5% discount (bumiputra buyers will get an additional 5%), loan and the sale and purchase agreement fees waived, and first-year maintenance waived (thereafter at 35 sen per sq ft for the first two years). "Price per sq ft for this development is slightly more than RM1,000 and we have enquiries on this development mainly from residents staying in TTDI itself. The people staying seem to be more inclined to buy the units here either for investment or for their children as they are used to the locality of Taman Tun," Johan said. "Rental yields will be attractive and will easily be more than RM2,000. This is the kind of yields we can expect from this area," he added. The development is expected to be completed in 42 months from the launch date at the beginning of February. |
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