Drifting sideways. The FBM KLCI managed to close marginally higher at 0.76 points to 1,501.74 points on Monday led by buying interest in selected financials. Corporate newsflow includes: AirAsia plans to form a Philippines unit by mid of next year, Spritzer in talks with JV partners to produce bottled mineral waters in China and Australia,Hartalega has said that its factory operation in the district of Ijok is still in operation despite reports of the government having ordered a shutdown, Alam Martim may have to write off RM30m in debts and the tussle for Carrefour Malaysian operations has intensified with Tan Sri Abdul Aziz Shamsuddin having launched a RM1.2bn bid.Overnight, Dow’s lacklustre performance which closed 3.03 points lower on concerns of the Fed’s ballooning budget deficit is likely to weigh down on our market sentiment today.
*Terkini – Jadual Seminar & Bengkel PUABUMI 2012
5 years ago