Drifting. The market trended lower in the morning session but recovered somewhat in the later part of the afternoon on sporadic buying, which helped the benchmark KLCI finish the day some 5 points lower. Overall market breadth was negative from the start on protracted concerns over the external environment. Today’s major headlines are MISC has proposed to acquire a 50% stake in VTTI, an operator and manager of tank
terminals for USD735m; Sunway awarded RM68m and RM88m worth of contracts respectively from the Middle East and SunCity; and Salcon bags a RM84.2m contract from PAAB. MAS returned to the black to post a headline net profit of RM310.1m against a loss in the previous corresponding period, which included derivative gains and compensation from Airbus, M3nergy has received a takeover offer for RM1.85/share
while EON Capital, which had earlier requested for suspension of its shares pending a material announcement, revealed that another announcement will be made in due course pertaining to the outcome of the board's decision on the offer from Hong Leong Bank and the proposed cash distribution. In the US, the Dow closed marginally higher overnight on a rebound in the Euro.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
5 years ago