Malaysia’s corporate landscape saw a mix of fundraising activities, renewable energy expansion, IPO enthusiasm and balance sheet restructuring dominate headlines, reflecting continued investor appetite for growth and defensive sectors despite broader market caution. Tenaga Advances Renewable Energy Push KL: TENAGA strengthened its renewable energy ambitions after its subsidiary issued RM1.05 billion in Asean Green SRI Sukuk to finance a 500MW solar photovoltaic project in Kedah . The issuance highlights increasing institutional support for green financing and reinforces Tenaga’s long-term transition towards cleaner energy infrastructure. Investors may view the move positively as ESG-linked investments continue gaining traction across regional markets. Mr DIY Expands Funding Flexibility KL: MRDIY raised RM540 million via its maiden bond issuance , with proceeds earmarked for refinancing, working capital and expansion plans. The ...
The benchmark KLCI FBM index lost 19.88 points or 1.2% to close at 1,633.3.
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| FBM KLCI downtrend continued as oil stumbles |
Last week, the market had a short rally after the
announcement made by Prime Minister Najib on the recalibrated Budget 2016 but
at this level, the KLCI is on a lower level than after the rally.
The decline in the index is in line with the world market, as oil price's decline worsen after hopes for oil-producing nations to reach an agreement for cutting production seem to falter.
It appears that the bear market is here to stay.Most Asian markets tumbled today as oil prices dropped for a third day. Japan's Nikkei 225 lost 3.15%, Hong Kong's Hang Seng Index fell by 2.36%, China's Shanghai Composite Index lost 0.38%, Australia's S&P/ASX200 dropped by 2.33%, and South Korea's Kospi Index shed 0.84%. Singapore's Straits Times Index also fell by 1.1%.
Shell Refining Co (Federation of Malaya) Bhd was the biggest decliner, falling by as much as 29.96% to RM3.46 before paring its losses to close at RM3.68. Shell Refining's major shareholder Shell Overseas Holdings Ltd has agreed to sell its 51% stake at a huge discount, for RM1.80 apiece.
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