KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
Boeing Co is set to launch a capital raise as early as Monday, aiming to secure more than US$15 billion in funding, according to sources familiar with the matter. The move is designed to bolster the company’s liquidity as it navigates the impact of a crippling strike and ongoing production issues.
The capital raise will likely include a mix of shares and debt that can be converted into equity, and the total amount could increase depending on investor demand. The airplane maker's advisers have been lining up potential investors for the offering, though timing and specifics of the transaction may still change.
This potential US$15 billion equity raise would be the largest since SoftBank's stake sale in T-Mobile US Inc in 2020, data compiled by Bloomberg shows. Boeing recently received clearance from the US Securities and Exchange Commission to raise as much as US$25 billion in equity and debt, a move that would help the company avoid a downgrade to junk credit status.
Boeing is burning through significant cash, with US$4 billion expected in the fourth quarter, bringing its total cash outflow to about US$14 billion for 2024. The company anticipates continued cash burn through the first half of next year as it restarts production, including the assembly of its crucial 737 Max jetliner.
The strike, now in its seventh week, continues to strain Boeing’s operations. Factory workers recently rejected a contract offer, and the company is planning to cut its workforce by 10%, including reductions among executives and managers.
Boeing has also put a new US$10 billion credit agreement in place to secure short-term liquidity and is reviewing its broad portfolio, including the future of its Starliner space capsule program.
Boeing shares have dropped more than 40% this year, as the company grapples with rising losses and missed revenue expectations.
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