KLCI news Highlights for Wednesday

Posted by Trading Advisor on 4:48 PM with No comments
  • Share prices on Bursa Malaysia opened firmer today riding on Tuesday’s uptrend momentum.  The benchmark FTSE Bursa Malaysia KLCI stood at 1,820.7, up 6.66 points after opening 1.61 points lower at 1,812.43.
  • The slump in crude oil prices and the weaker global economy are expected to weigh down on Malaysia’s export growth.
  • Fajarbaru Builder Group Bhd has got a RM109 million Kelana Jaya line extension project job from Prasarana Malaysia Bhd.  Which is expected to affect the Group’s earnings and net assets in a positive manner.
  • The State Bank of Vietnam (SBV) has allowed Malaysia's Public Bank Bhd to acquire all stakes owned by Vietnamese lender BIDV in their $62.6 million joint venture VID Public Bank.
  • Kenanga Investment Bank Bhd is issuing 8 new European style cash-settled call warrants (CW) over ordinary shares of Bumi Armada Bhd (Armada), Astro Malaysia Holdings Bhd (Astro),  CIMB Group Holdings Bhd (CIMB), Datasonic Group Bhd (Dsonic), Inari Amertron Bhd (Inari), Mah Sing Group Bhd (MahSing), Pos Malaysia Bhd (Pos) and UOA Development Bhd (UoaDev).  The warrants will be listed tomorrow at the structured warrants board of Bursa Malaysia with an issue size of up to 100 million each. The main focus is on the trading/services, properties and technology sector.  The new call warrants are priced at 15 sen each with effective gearing ranging from 2.66 times to 4.58 times.
  • Sime Darby Bhd which had secured 98.8% of NBPOL will compulsorily acquire all the remaining New Britain Palm Oil Ltd (NBPOL) shares under the proposed privatisation of the in UK and Papua New Guinea-listed company.
  • Berjaya Land Bhd's (BLand) third quarter ended Jan 31, 2015 (Q3) pre-tax profit shows an increased by 7.8% to RM81.3 million from RM75.4 million due to higher profit from its principal subsidiary,  Berjaya Sports Toto Bhd (BToto) and a RM18 million refund after the aborted listing of Sports Toto Malaysia Trust on the Singapore Exchange Securities Trading Limited.
  • Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed mentioned that Malaysia expects growth in the export of electrical & electronics (E&E) products to almost halve this year to between 4% and 5%,  compared with the 8.1% achieved in 2014,  
  • Integrax Bhd's major shareholder and co-founder Amin Halim Rasip is continuing his campaign against Tenaga Nasional Bhd's offer for Integrax, urging Perak Corp Bhd (PCB)  to reconsider its recommendation for the acceptance of TNB's RM3.25 a share offer at an extraordinary general meeting (EGM) to be held this Friday.
  • Motor insurer Pacific & Orient Bhd (P&O) is cautious on its business outlook for the financial year ending Sept 30, 2015 in view of the uncertainties in the global economy.
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