KUALA LUMPUR: The FBM KLCI erased earlier gains by midday as investors continued to take profit following a six-day rally in the closing days of 2024. At the midday break, the benchmark index was down 2.43 points to 1,630.44. The broader market, however, was positive with 506 gainers compared to 476 decliners, suggesting that investors had turned their attention to picking up bargains among the lower liners. Turnover was 2.4 billion shares valued at RM1.48bil. Investors continue to tread cautiously amid a suggestion by the Federal Reserve that there will be fewer rate cuts this year than initially projected, while the incoming Trump administration will fuel inflation with its growth policies. In China, the Shanghai Composite index dropped 0.46% to 3,247 while Hong Kong's Hang Seng gained 0.87% to 19,794. Singapore's Straits Times fell 1.71% to 3,799. Japan's stock exchange remained closed for a national holiday. On Bursa Malaysia, laggards included Nestle down ...
Datasonic Secures RM21 Million Government Contract
Datasonic Group Bhd's unit, Datasonic Technologies Sdn Bhd, won a RM21 million contract from the Ministry of Economy to rent out 818 vending machines for the People's Income Initiative (IPR) programme, aiding poor Malaysians to generate income by selling cooked food.
Dialog Expands Renewable Fuel Storage in Johor Dialog Group Bhd is adding 150,000 cubic meters of storage for renewable and petroleum products at its Terminal Langsat 3 in Johor. The storage expansion includes 100,000 cu m for EcoCeres Ltd and 50,000 cu m for third-party customers.
Kelington Acquires Remaining Stake in Ace Gases for RM35.69 Million Kelington Group Bhd is set to acquire the remaining 9.29% stake in Ace Gases Sdn Bhd, making it a wholly-owned subsidiary. This acquisition will enhance Kelington's strategic flexibility and growth potential in the industrial gas sector.
IHH Healthcare Explores Outcome-Based Payment Models IHH Healthcare Bhd announced its readiness to explore outcome-based payment models following positive results from its value-driven outcomes initiatives, which improved clinical processes and patient outcomes.
PMB Technology Plans RM300 Million Rights Issue PMB Technology Bhd proposes a renounceable rights issue to raise around RM300 million. The company seeks undertakings from major shareholders, including the Koon family, to subscribe to the rights shares not taken up by other shareholders.
Ekovest Disposes of Land in Kuala Lumpur Ekovest Bhd is selling four parcels of land in Jalan Pahang, Kuala Lumpur, to Airman Sdn Bhd for RM9.82 million. The transaction, deemed a related party transaction, is expected to generate a gain of RM3.51 million for Ekovest.
Paragon Globe Expands Land Holdings in Johor Bahru Paragon Globe Bhd is purchasing additional land in Plentong, Johor Bahru, for RM34.96 million. The new acquisition aims to bolster the company's presence and will be developed into an industrial area.
Tune Protect Appoints New Group CEO Tune Protect Group Bhd appointed How Kim Lian as the new Group CEO, succeeding Rohit Nambiar. How will focus on enhancing the company's presence in the lifestyle ecosystem and expanding its reach in the travel insurance sector.
HB Global Appoints New Chairman HB Global Ltd named Datuk Johan Pahlawan Lela Perkasa Setiawan Datuk Muhammad Abdullah as its new independent non-executive chairman. Muhammad brings a wealth of experience in land management, education, and financial services.
Marine & General Chairman Exercises Call Option Marine & General Bhd's executive chairman Tan Sri Mohammed Azlan Hashim and his son exercised a call option to acquire 3.2 million preference shares in Jasa Merin (Malaysia) Sdn Bhd, valued at RM3.52 million.
Chin Teck Plantations Doubles 3Q Net Profit Chin Teck Plantations Bhd reported a near doubling of its 3Q net profit to RM22.69 million, driven by higher sales of fresh fruit bunches, crude palm oil, and palm kernels. The company declared a total dividend of 28 sen per share.
EcoFirst's 4Q Net Profit Surges EcoFirst Consolidated Bhd saw its 4Q net profit more than double to RM41.51 million, driven by a higher sales conversion rate for its KL-48 project. Revenue for the quarter increased nearly fivefold year-on-year to RM87.86 million.
Genting Plantations Issues RM1.2 Billion Sukuk Wakalah Genting Plantations Bhd's subsidiary, Benih Restu Bhd, issued RM1.2 billion in Islamic medium-term notes under its RM2 billion Sukuk Wakalah programme. The sukuk has a 10-year tenure with a profit rate of 4.08% per annum.
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