Drifting. The FBM KLCI reversed its previous days’ gains and closed 2.04 points lower at 1,282.9 points as external sentiments continue to weigh on the downside. Today’s corporate news include: 1) Kenmark expected to appoint a special auditor to investigate the recent developments affecting the company, Affin is likely to undertake a Rights Issue to fund its proposed acquisition of EONCap pending approval from Bank Negara Malaysia, banks may start revising upwards hire purchase rates by an average of 25bps, Paramount Corp Bhd plans to acquire 50 acres of freehold residential land from Cyberview Sdn Bhd for RM75m and Asas Serba has denied rumors that it will be presenting its proposal to acquire all the toll concessions in Malaysia at the weekly cabinet meeting today. We expect further market weakness today given Dow Jones’ weak overnight close.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
4 years ago