KUALA LUMPUR, Nov 12 (Bernama) -- Bursa Malaysia extended its losing streak for a fourth consecutive session, closing lower on Thursday amid continued broad-based selling that weighed on market sentiment, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) slid 9.23 points or 0.57 per cent to 1,585.96 from Wednesday's close of 1,595.19. The benchmark index opened 3.61 points lower at 1,591.58 and fluctuated between an intraday low of 1,583.66 and a high of 1,592.89 throughout the day. Market breadth remained negative with losers thumping gainers 799 to 318, while 476 counters were unchanged, 1,181 untraded and 13 suspended. Turnover climbed to 3.06 billion units valued at RM2.56 billion compared with yesterday’s 2.90 billion units valued at RM2.33 billion.
Versatile Creative Bhd (-ve) SHARES in Versatile Creative Bhd (fundamental: 0/3, valuation: 0.55/3), which triggered our momentum algorithm yesterday, slipped one sen or 0.76% to RM1.31 after 2.61 million shares were done; in contrast, its 200-day average volume was only 445,508.5 shares. In May, the loss-making company secured a contract to build a halal vaccine plant along with a pharmaceutical plant and research centre in Bandar Enstek Industrial Park, Negeri Sembilan, for US$69.3 million. The contract was awarded by Oriental Mace Sdn Bhd, which is part of Oriental Mace Group that is led by Professor Dr Wong Kong Yew as chief executive officer. On Aug 29, it was revealed that Wong had inked an agreement with Versatile executive chairman Datuk Lee Kwee Hiang to buy the latter’s 18.33% stake in Versatile at RM17.21 million or 80 sen per share. Versatile is trading at 3.72 times its net book value. No dividends were paid out for the financial year ended March 31, 201...