KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
DUTCH LADY EMERGED AS TOP GAINERS FOR THE ENTIRE WEEK'S TRADE DAY
The "Monkey" year kick start with a very negative sentiment and the FBM KLCI closed down 1.1% compared to the previous Friday (Feb 5, 2016). However, Dutch Lady has emerged as the top gainers for three consecutive days. (which is the entire week's trading day for last week).
The company has seen the share price jumped to RM51.96 compared to the previous Friday (Feb 5, 2016) at RM48.88. That's an impressive 6.3% increase compared to the negative trend of the FBM KLCI. Last Friday (Feb 12, 2016), Dutch Lady Milk Industries Bhd increased by RM1.50 from the previous closing. There was no further or new announcement from the company but given its previous earnings report and strong balance sheet, it's possible that investors are looking for companies with the moat to brace the storm and uncertainties ahead.
Telekom Malaysia (TM) has increased its controlling stake in Packet One Networks Sdn Bhd (P1) to 72.9% via its unit Mobikom Sdn Bhd, by converting the medium-term bonds into shares in the company.
Another listed company, Green Packet Bhd saw its holding in Packet One diluted to 18.9% from 31.1% due to the larger share base.
The company has seen the share price jumped to RM51.96 compared to the previous Friday (Feb 5, 2016) at RM48.88. That's an impressive 6.3% increase compared to the negative trend of the FBM KLCI. Last Friday (Feb 12, 2016), Dutch Lady Milk Industries Bhd increased by RM1.50 from the previous closing. There was no further or new announcement from the company but given its previous earnings report and strong balance sheet, it's possible that investors are looking for companies with the moat to brace the storm and uncertainties ahead.
LEMBAGA TABUNG HAJI: Rejected "Creative Accounting" claim
The pilgrim fund, Lembaga Tabung Haji was in the spotlight recently over its reserves and the fund has rejected claims that it resorted to "creative accounting" in preparing its financial statements. Lembaga Tabung Haji said that they were drawn up according to standards underlined by the Malaysian Accounting Standards Board.
Last Wednesday, Lembaga Tabung Haji issued a statement, saying that it was still in the black after paying out dividends and bonuses for 2015, and did not dip into its reserve for the payout, as suggested by certain parties.
WHY BAKKE RESIGNED TWICE AS 1MDB CHAIRMAN?
Former 1Malaysia Development Bhd (1MDB) chairman, Tan Sri Mohd Bakke Salleh told the Public Accounts Committee (PAC) that he resigned twice from his post because he was not satisfied with the company's management, PAC vice-chairman Dr Tan Seng Glaw said.
The DAP lawmaker said Bakke told the committee members this during proceedings last Thursday.
FOREIGN-WORKER LEVY HIKE ON HOLD
It's not the first time that we heard certain policies and announcements made by our politicians, only for them to postpone or cancel it. It looks like the same habits remain as the levy hike for foreign workers has been put on hold and a final decision will be made after Chinese New Year following consultations with employers.
Home Minister Datuk Seri Ahmad Zahid Hamidi said the Prime Minister had asked him to look at certain aspects of the policy, including the rate and validity period.
MARCH CPO EXPORT TAX STAYS AT ZERO
According to a government circular last Friday, Malaysia will maintain its crude palm oil export tax at zero in March. This is contrary to market's expectation.
The rate has been at zero since last May. A reference price of RM2,172.69 per tonne was calculated for March. A price above RM2,250 per tonne incurs a tax, which starts at 4.5% and an reach 8.5%.
TELEKOM MALAYSIA: HIGHER STAKE IN P1
Another listed company, Green Packet Bhd saw its holding in Packet One diluted to 18.9% from 31.1% due to the larger share base.
Comments
Post a Comment