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 (Feb 20): The FBM KLCI pared gains today to close 0.82 point or 0.05% higher as investors weighed the Covid-19 outbreak's impact on financial markets while evaluating Malaysian corporate financials during the current reporting season. The ringgit weakened.
At 5pm, the KLCI closed at 1,534.98 after volatile trade. The index fell to its intraday low at 1,531.15 before rising to its high at 1,540.18 points.
“Investors are less worried about the outbreak and are seeing that the outbreak could have slowed down,” Hong Leong Investment Bank Bhd head of retail research Loui Low told theedgemarkets.com.
Today, Bursa Malaysia saw 2.96 billion shares worth RM2.27 billion traded across the exchange as investors closely watched companies' financial results for the October-to-December 2019 quarter.
The Malaysian corporate financial reporting season for the October-to-December quarter starts as early as January although most companies report their results in February.
Across Bursa at 5pm today, top gainer was Carlsberg Brewery Malaysia Bhd while leading decliner was Fraser & Neave Holdings Bhd.
The most-active stock was newly listed InNature Bhd, which registered a volume of 143.7 million shares.
The Body Shop International Ltd franchisee's shares closed up 1.5 sen or 2.34% at 65.5 sen against its initial public offering price of 64 sen.
The ringgit weakened with the yuan after China cut its benchmark lending rate on Thursday as widely expected to support its economy against the impact of the Covid-19 outbreak. World currencies also took cue from a stronger US dollar, which is deemed a haven in times of economic uncertainty.
At the time of writing, ringgit weakened to 4.1820 against the US dollar after China's one-year loan prime rate was lowered by 10 basis points to 4.05% from 4.15%, while the five-year tenor fell 5 basis points.
Reuters reported that emerging markets stocks faltered on Thursday on fears of a global spread of the coronavirus after a spike in new cases in South Korea, while currencies in the developing world reeled under pressure from safe-haven buying of the US dollar.
"Investors dumped emerging market assets as research suggested that the pathogen is more contagious than initially thought. It has now infected some 75,000 people and killed about 2,100.
"The yuan weakened to a more than two-month low against the dollar on Thursday after China lowered its lending benchmark rate to prop up an economy hit by the coronavirus outbreak. The benchmark loan prime rate was cut, as widely expected on Thursday, but many investors expect authorities to roll out more powerful monetary easing measures in the near-term to support business and factory activity," Reuters reported.
Source: The Edge
Comments
Post a Comment