Consolidation mode. The FBM KLCI closed 2.96 points higher at 1,355.19, underpinned by financials, which benefited from positive news flow of a thinned down implementation of Basel 3. Today’s corporate news include Measat announcing that it has received a privatisation offer from its major shareholder for RM4.20 cash per share, WCT has proposed an issuance of RM600m serial fixed rate bonds, PLUS to dispose of the entire equity in PT Cimanggis tollway for RM20.2m, MRCB will consider injecting some of its assets into a real estate investment trust and PepsiCo has renewed CI Holdings’ bottoling rights for Pepsi beverages. Finally the US market closed 39.8 points lower on concerns of a slowing economic recovery as unemployment remains high. We expect our market to consolidate in a tight trading range given its strong recent uptrend.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
4 years ago