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 (April 8): The FBM KLCI closed down 8.53 points or 0.62% at 1,361.39 today with global shares, as news on the higher global death toll at about 80,000 from the Covid-19 pandemic hit sentiment as investors weighed the economic impact from the outbreak.
Across Bursa Malaysia at 5pm, 5.36 billion shares worth RM2.67 billion were traded. There were 617 decliners versus 316 gainers across the exchange.
"Despite several stimulus packages [from our (Malaysian) government] to cushion the impact of Covid-19, traders are advised to deploy the sell into rally strategy for the near term as we believe the KLCI is facing a stiff resistance along 1,370-1,400,” Hong Leong Investment Bank Bhd wrote in a note today.
Globally, it was reported that world stocks turned negative on Wednesday as the coronavirus death toll mounted and eurozone finance ministers failed to agree on a rescue package to help economies recover from the impact of the outbreak.
It was reported that Covid-19 hospitalisation seemed to be levelling off in New York State, but deaths across the US jumped by a record of more than 1,800.
"Meanwhile, France has officially registered more than 10,000 deaths from coronavirus infections, making it the fourth country to cross that threshold after Italy, Spain and the US. Mainland China's new coronavirus cases doubled in 24 hours as infected travellers returned home. After two sessions of gains, European equities fell amid renewed concern about the spread of the virus and the continent's response to it,” Reuters reported.
Across Bursa today, top decliners included KLCI stocks PPB Group Bhd, Sime Darby Plantation Bhd and Tenaga Nasional Bhd.
Most active was Ekovest Bhd after some 233 million shares were traded. Ekovest’s share price closed up 1.5 sen or 3.37% at 46 sen.
Source: The Edge
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