Rebounding. The massive selldown on global markets last week sparked by Greece’s debt crisis got a fillip yesterday after European lawmakers and leaders agreed on a USD1tn bailout package to prevent the debt crisis from spiralling out of control. The FBM KLCI closed just a touch higher yesterday, with gainers outpacing losers 529 to 154. Today’s key headlines are Naim to partner Cahya Mata Sarawak to develop a
RM1.5bn township in Samalaju Sarawak, Sunway Holdings has inked a MOU with China's XuanCheng municipal government to develop an integrated city in XuanCheng, about 260km east of Shanghai, Mulpha Land has proposed a capital reduction of 90 sen/share, and KLK will acquire fatty acids and glycerine maker Uniqema Gmbh for €60.5m. Meanwhile, KKB reported a 2-fold increase in net profit in 1Q10 to RM19m on
better margins from its steel water pipes. With European and the US markets in buoyant mood on Greece’s aid plan, there is further upside bias on the local market today, with investors likely to also take the cue from the possible revision of the OPR later in the week.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
5 years ago