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 ...
KUALA LUMPUR (Aug 29): The FBM KLCI closed up 5.36 points or 0.34% today on bargain hunting and as foreign selling of Malaysian stocks appeared to have tapered off amid more optimistic corporate financial announcements during the current reporting season.
At 5pm, the KLCI closed up at 1,595.18, led by top percentage gainer IOI Corp Bhd, to snap three consecutive days of losses. Today, the KLCI finished higher after falling to its intraday low at 1,584.83 as world recession concerns amid intensifying US-China trade war and the spectre of a no-deal Brexit affected sentiment.
In Malaysia, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com that the unbroken spell of foreign selling appears to have tapered off after more optimistic corporate earnings were released.
Among the 30 KLCI stocks, IOI Corp was the leading percentage gainer after the stock closed up 14 sen or 3.32% at RM4.36 followed by Hap Seng Consolidated Bhd. Hap Seng Consolidated added 29 sen or 3.02% to RM9.90.
Globally, Reuters reported that global bond yields flirted with record lows while stocks inched down on Thursday, as global recession worries from intensifying US-China frictions and the spectre of a no-deal Brexit drove investors to safer harbours. It was reported that bond markets around the world painted a gloomier picture, with yields on 30-year US Treasuries and 10-year German bunds yield both hitting record lows - 1.905 percent and minus 0.716 percent on Wednesday.
In the UK, the most serious political crisis in decades deepened after Prime Minister Boris Johnson decided to suspend Britain's Parliament for more than a month before Brexit, Reuters reported.
It was reported that the move will limit the time opponents have to derail a disorderly Brexit but also increases the chance that Johnson could face a vote of no-confidence in his Government, and possibly an election.
Source: The Edge
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