Recovery concerns. The market closed broadly lower after shedding 5.70 points to lose at 1,319.8. Sentiment was negatively impacted by renewed concerns of China’s weakening economic growth and a slump in US consumer confidence. Today’s major corporate headlines: 1) Multi-Purpose Holdings (MPHB) plans to announce a JV with a property development company to help unlock the value of its vast landbank, 2) Packet One Network SB a subsidiary of Green Packet, has signed a share subscription agreement with SK Telekom worth USD100m, 3) Kencana has secured a RM34m Petronas contract, 4) Glomac reported a 80% rise in 4Q10 earnings, 4) Petra Perdana has fixed the price of its private placement at RM1.32, 5) Sunway Holdings expects to achieve a record pre-tax profit for its FY2010 and 6) the first Danajamin Nasional guaranteed bond issuance of RM30m was priced at 3.8%. Wall Street’s overnight loss of 2.7% on renewed concerns of the sustainability of the economic recovery is expected to dampen the performance of our local market today.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
4 years ago