KUALA LUMPUR: All attention will be on Prime Minister Datuk Seri Najib Tun Razak’s announcement on a new Cabinet line-up at 3pm on April 9. Najib is scheduled to have an audience with the Yang di-Pertuan Agong at 11am to seek consent on the line-up before he announces the line-up. Sources expect some changes to the Cabinet line-up. As for Bursa, plantations would continue to attract attention with crude palm oil for third-month delivery above the RM2,000 level, closing at RM2,165 the previous day. AmResearch recommends investors “Overweight” the plantation sector as supply of vegetable oils is expected to remain tight. A weak US dollar would also help prop up CPO prices. Its picks in the sector are Kuala Lumpur Kepong and IOI Corporation. Among smaller companies, it had “Buy” calls on Asiatic Development and IJM Plantations. Other stocks which would continue to attract heavy interest are Maybank-OR and also Axiata, which went ex on April 8. The selling pressure on Maybank-OR has abated. LPI Capital kicked off the 1Q earnings season for the period ended March 31, posting net profit of RM35.48 million, up 29.4% from RM27.42 million a year ago as the bottomline was boosted by higher underwriting profit. Supportive International Holdings’ share price tumbled 16 sen to 80 sen with 1,000 shares done on April 7. Filings to Bursa showed that Arena Nilam disposed of 35.6 million shares to Supptech Holdings at 59 sen each on April 2. The filings also showed the companies had the same registered address in Sungei Nibong, Penang. The acquisition of 35.6 million shares saw Supptech’s total shareholding increase to 66.5% or 145.3 million shares while Arena Nilam ceased to be a substantial shareholder. In Hektar REIT, Arisaig Asean Fund had ceased to be a substantial shareholder after it disposed of 15.62 million shares in the open market on April 2. Bursa Malaysia also saw a foreign fund reducing its stake in the stock exchange operator. Newton Investment Management disposed of 1.36 million shares, reducing its stake to 38.079 million shares or 7.24%.
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