A fillip from NEM. The market reacted positively to the NEM announcement yesterday although gains were pared in late afternoon, resulting in a flat close for the benchmark index. NEM-related headlines dominate the media today, with the notable ones being (i) the Government to divest its 32.2% stake in Pos Malaysia (held via Khazanah), (ii) the impending listing of 2 key Petronas subsidiaries and few other publicly-owned ventures,
(iii) the Government to develop 3,000 acres of land as part of a JV with EPF in Sungai Buloh. Other corporate headlines are Parkson stating its intention to spend RM220m to expand its regional stores, Axiata may consider paying a special dividend from proceeds of XL’s share sale and KPJ looking to acquire another overseas hospital next year. We expect the market to continue to take the cue from domestic leads today although trading is likely to be range-bound. Overnight, the US market closed higher,buoyed by stronger consumer confidence.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
5 years ago