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Showing posts from April, 2019

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Malaysia Corporate Round-Up: Energy Transition, Fundraising and IPO Momentum Drive Market Focus

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 ...
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Market Daily Report: KLCI bucks Asia stock decline as HLFG, Maybank gain

KUALA LUMPUR (April 30): The FBM KLCI gained 4.89 points or 0.3% to close at 1,642.29, partially lifted by gains in banking stocks including Hong Leong Financial Group Bhd (HLFG) and Malayan Banking Bhd (Maybank). HLFG closed 18 sen up at RM19.22 while Maybank gained 11 sen to RM9.25. HLFG and Maybank ended among Bursa Malaysia top gainers. “Some of the banking stocks rebounded, such as Maybank and HLFG which are constituent stocks. Especially Maybank, which is a heavyweight,” Areca Capital Sdn Bhd chief executive officer Danny Wong Teck Meng said. Across Bursa Malaysia, 2.36 billion shares were traded for RM2.24 billion.    Leading gainers included Carlsberg Brewery Malaysia Bhd and KLCI stock Digi.Com Bhd. Globally, the KLCI bucked Asia shares' decline today as investors evaluated China's April manufacturing and non-manufacturing purchasing managers index (PMI) numbers. Bloomberg reported that the manufacturing PMI stood at 50.1, down from 50.5 ...
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Market Daily Report: KLCI declines as Bursa T+2 settlement cycle kicks in

KUALA LUMPUR (April 29): The FBM KLCI closed down 0.98 point or 0.06% today after retail buying across Bursa Malaysia appeared to be dampened by the two-day securities settlement cycle (T+2 settlement cycle) debut on the local bourse. The T+2 settlement cycle replaces the T+3 scheme. At 5pm, the KLCI closed at 1,637.4 after falling to its intraday low at 1,631.83. On Friday (April 26), Bursa Malaysia chief executive officer Datuk Muhamad Umar Swift said in a statement that “the launch of T+2 settlement cycle will bring Bursa Malaysia in line with regional and major exchanges around the world". The statement said Friday was the last trading day for the T+3 settlement cycle. Today, Inter-Pacific Securities Sdn Bhd head of research Pong Teng Siew said it was “uncharacteristic” of the KLCI to decline amid increases in most Asian markets. Pong pointed to the implementation of the T+2 scheme as a possible factor behind the KLCI's fall.  “The KLCI dipped,...
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