FBM KLCI slips to intraday low; NationGate falls on MACC raid
The FBM KLCI slipped 12.11 points, or 0.8%, to close at its intraday low of 1,525.40. It had earlier touched a high of 1,538.56. Today's decline marks the index's biggest drop since it fell 0.82% on July 7.
Selling pressure persisted as 601 counters fell while 412 rose, bringing market breadth to 0.14. Decliners outpaced gainers, reflecting a cautious tone in the broader market. Traded volume stood at 3.1 billion shares valued at RM2.4bil.
Among the decliners, Heineken slid 40 sen to RM24.50, Malaysian Pacific Industries fell 38 sen to RM20.40, F&N declined 28 sen t RM28.70 and Hong Leong Bank gave up 26 sen to RM19.30.
Gainers included Riverview, which rose 15 sen to RM3.00, Master-Pack, which added 12 sen to RM3.15, United Plantations, which gained eight sen to RM21.70, and KPS Consortium , which climbed 7.5 sen to 56.5 sen.
NationGate Holdings fell 12 sen, or 7.45%, to RM1.49 with 160.51 million shares traded, making it one of the most active counters on Bursa Malaysia.
In a filing with Bursa Malaysia today, Nationgate announced that the Malaysian Anti-Corruption Commission (MACC) had raided the premises of one of its subsidiaries as part of an ongoing investigation into alleged scrap metal smuggling.
Earlier in the day, it was reported that the MACC had launched a major operation targeting scrap metal smuggling syndicates across five states, with the illicit activities estimated to have caused over RM950mil in lost tax revenue.
NationGate Holdings fell 12 sen, or 7.45%, to RM1.49 with 160.51 million shares traded, making it one of the most active counters on Bursa Malaysia.
The Malaysian Anti-Corruption Commission (MACC) has conducted a raid at the premises of a subsidiary of Nationgate as part of an ongoing investigation into allegations of scrap metal smuggling, the company announced in a stock exchange filing today.
It was reported earlier today that the MACC has launched a major crackdown on scrap metal smuggling syndicates in five states. These smuggling activities were reported to have resulted in an estimated tax revenue loss of over RM950mil.
Meanwhile, the ringgit strengthened 0.29% against the US dollar to 4.2410, and rose 0.3% against the Singapore dollar to 3.3108.
In contrast with the local bourse, regional markets ended higher. MSCI's Asia ex-Japan stock index was higher by 1.05%.
Japan's Nikkei 225 rose 0.55%, South Korea's Kospi gained 0.41%, Hong Kong's Hang Seng climbed 1.6%, China's CSI 300 edged up 0.035%, and Singapore's Straits Times Index added 0.3%.
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Malaysiakini
an hour ago
- Malaysiakini
MACC sorry over Beng Hock death, but still no accountability
YOURSAY | 'Ensuring that such incidents never happen again requires more than words and gestures.' Beng Hock's death: MACC apologises to family, offers contribution for son Robbie98: To start, you need to review the offence for which the late Teoh Beng Hock (an aide to then-Selangor state executive councillor Ean Yong Hian Wah) was called to, the MACC offices that fateful day in 2009. It was over allegations that Ean Yong, then a Selangor exco member, had misused his allocations. A princely sum of a few thousand ringgit in a country where millions routinely go 'missing'. The keyword here is allocation, not stolen money. Teoh died in a secure building with limited access. The coroner and court initially said it was suicide, but this decision was overturned by the appeals court, which also sought to seek the truth with a verdict of death due to 'external' influence. How many people were in contact with him in a secure place at night was the obvious question. The answer we don't know forever tarnishes the credibility of MACC. An apology from MACC chief commissioner Azam Baki is certainly the right start after a long 16 years. We shall give you compensation, get on with your life, and nothing else can be achieved. Sir, this is the wrong answer. What the grieving, courageous family is looking for is justice for their loss, to know who killed Teoh, and for closure of this deplorable saga. This tragedy is a stain forever on the MACC and the political games our 'elites' play. EmEmKay: The formal apology from MACC is a historic development in a tragedy that has haunted Malaysia's conscience for years. However, for Teoh's family - and for many Malaysians - the path to justice is incomplete without decisive action to hold individuals accountable for acts committed under the commission's watch. Ensuring that such incidents never happen again requires more than words and gestures; it demands transparency, reform, and the unwavering pursuit of justice. Amadeus: Azam, a mere apology will not bring Teoh back. The murderers should be held accountable for their actions. This isn't a matter of turning the other cheek when being slapped; this was someone's son, brother, husband, and father. Shouldn't the murderers be accountable for their actions? Attorney-General Dusuki Mokthar, what if this happened to your kin? Would you say no further action (NFA)? As for the compensation offered, is that from the murderers or the people's money? MarioT: An apology without taking any action against those responsible for Teoh's death only brings more trauma and pain to the family. Sixteen years of waiting for justice turned out to be a fiasco. The MACC chief commissioner should, in all honesty, ask himself whether he has truly carried out his duties in a fair and just manner by avoiding taking action against those responsible. Would he treat the case in the same manner if it had happened to one of his family members? Coward: Don't take the money. It's not atonement on their party. They just want to pay to shoo you away. Moreover, it is not atonement that you want or need. If you accept the money, then the perception is that you settle the matter with MACC. Your lawyers will tell you that this will have a big impact on any legal pursuit and redress later. TC: Can MACC or the police call up all the MACC officers in court to hear their versions, and let the public see them, their names, and their current positions? It does not mean they are guilty, but why hide themselves if they are not guilty? Will they dare to appear in public? Why are they mysterious, faceless, and nameless? Ringgit: Death in custody, and you just offer your deepest sympathies and extend an apology? Malaysians want justice for Teoh. According to the country's rule of law, no one should be allowed to die in your custody with any form of cover-up or hiding of information. Please instruct your team at MACC to provide the utmost cooperation to the police, arrest the culprit and charge them in court. You are no judge, so do not conclude on behalf of the public. Please do your part! Prime Minister Anwar Ibrahim may appreciate your work, but most Malaysians don't share his view. Quigonbond: MACC is so tone-deaf. The family have already succeeded in a civil case against MACC. It's hilarious to try to bribe them with a goodwill contribution, which is not even a proper function of MACC. The only thing missing here is criminal accountability. Sun n Moon: Still no closure after 16 years for the family. On a bigger scale, why so much focus and attention all these years just on this case and family? What happens to other unexplained death cases in the custody of other families who have suffered the same fate and agony, but not much attention and investigation is given? BrownMacaw9225: This unfortunate episode has tarnished MACC's reputation. Let us all pray that all the affected parties be magnanimous about the matter and move on. Let it be a lesson to all government agencies that the life of any Malaysian matters and not to abuse their power or authority. May God guide us daily. Blue Lights: This apology has long been overdue in Teoh's case; we can finally see the family getting some closure. The tragedy needs this magnanimous public contrition. Sighhhhhhh: Where does the buck stop? All those who were involved, even those who were not there in person, especially if they are in charge, must take some responsibility. The above is a selection of comments posted by Malaysiakini subscribers. Only paying subscribers can post comments. In the past year, Malaysiakinians have posted over 100,000 comments. Join the Malaysiakini community and help set the news agenda. Subscribe now. These comments are compiled to reflect the views of Malaysiakini subscribers on matters of public interest. Malaysiakini does not intend to represent these views as fact.
The Star
9 hours ago
- The Star
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The Star
9 hours ago
- The Star
Bursa Malaysia extends downtrend to close lower
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