Malaysian[KLSE] Stock HighLights for Tuesday

Posted by Trading Advisor on 7:07 PM with No comments
  • Malaysia share prices opened higher on Tuesday with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 1.24 points to 1812.74.
  • Sime Darby Bhd has shortened the offer period for the remaining shares in London-listed New Britain Palm Oil Ltd (NBPOL) to February 23, 2015 following the approval by the European Commission end-January.
  • The Employees Provident Fund (EPF), which announced a 6.75% dividend rate for 2014, aims to increase its global investments to 26% in the next three years.
  • After selling Malaysian stocks unrelentingly since the start of the year, foreign investors appear to have made a reversal. Foreign selling peaked in the third week of January and has abated significantly thereafter.
  • The General Insurance Association of Malaysia (PIAM) expects the general insurance industry to see a growth of 5.5% to 6% in gross written premiums this year amid global economic headwinds and the impending implementation of the Goods and Services Tax.
  • 1Malaysia Development Bhd (1MDB) has not approached the Employees Provident Fund (EPF) to be a cornerstone investor for the listing of its power assets, Edra Global Energy Bhd.
  • Perusahaan Otomobil Kedua Sdn Bhd (Perodua) may face compressed margins due to increased competition this year, but it expects to increase contribution from after-sales service to make up the shortfall.
  • DiGi.Com Bhd plans to maintain its 2014 capital expenditure level of RM904 million in 2015 to continue to drive mobile internet revenue growth.
  • Quarry machinery supplier SCH Group Bhd (SCH) is in negotiations to form a US$50,000 joint venture with a local company in Cambodia to expand its distribution and supply of industrial products business there.
  • CIMB Group, following a strategic review of its entire business yesterday, announced that it will be closing its offices in Sydney and Melbourne. This follows an announcement last Friday that it is looking to reduce its Asia Pacific investment banking and equities operating cost by 30% in 2015.
  • Malaysian Prime Minister appointed Wan Zulkiflee Wan Ariffin as the new president and chief executive officer of state oil firm Petroliam Nasional Bhd ( Petronas) from April.