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The Star
12-08-2025
- Business
- The Star
FBM KLCI hits three-month high in sixth winning streak
KUALA LUMPUR: The FBM KLCI extended its uptrend for the sixth consecutive session, closing at its highest level in nearly three months. At 5pm, the FBM KLCI rose 4.66 points, or 0.3%, to 1,567.90, its highest level since mid-May 2025, with 18 of the 30 constituent stocks closing higher. The index reached an intraday high of 1,572.97 and a low of 1,561.83. PETRONAS Dagangan jumped 80 sen to RM23.70, Malaysian Pacific Industries added 44 sen to RM22, Bintulu Port gained 27 sen to RM5.38 and Hong Leong Bank climbed 26 sen to RM19.60. Conversely, Nestle slid 32 sen to RM88.20, UMS Integration lost 24 sen to RM5.02, F&N fell 22 sen to RM27.78 and IJM declined 14 sen to RM2.96. Meanwhile, the ringgit was quoted at 4.2310 against the US dollar, appreciating by 0.07%, and strengthened 0.18% against the Singapore dollar to 3.2894. The local currency also rose 0.29% against the euro to 4.9143, but declined 0.06% against the pound sterling to 5.6989. Dealers said markets were encouraged after the United States and China extended their 90-day tariff truce to November, which helped cushion investor sentiment. Asia benchmark finished mostly higher. Japan's Nikkei 225 gained 2.15%, South Korea's Kospi dropped 0.53%, and Hong Kong's Hang Seng rose 0.25%. China's CSI300 added 0.52%, while the Shanghai Composite closed 0.5% higher.
The Star
12-08-2025
- Business
- The Star
Selective buying lifts KLCI despite market caution
KUALA LUMPUR: The local bourse extended its midday gains as the FBM KLCI edged higher, buoyed by selective buying despite a cautious market tone. The FBM KLCI rose 2.96 points, or 0.19% to 1,566.20 after hitting an intra-morning high of 1,572.97. There were 404 gainers, 454 losers and 441 counters traded unchanged on the Bursa Malaysia. Turnover stood at 1.6 billion shares valued at RM1.06bil. Among the gainers, United Plantations rose 30 sen to RM22.30, Heineken added 30 sen to RM23.70, Bintulu Port gained 27 sen to RM5.38 and Hong Leong Bank climbed 26 sen to RM19.60. On the other hand, Nestle declined 32 sen to RM88.20, F&N fell 28 sen to RM27.72, UMS Integration lost 20 sen to RM5.06 and Country View gave up 15 sen to RM2.16. Malacca Securities said that following a slight pullback on Wall Street, profit-taking activities are expected to surface on the local front. However, it noted that the technology sector may remain in focus, supported by Apple Inc's planned US$100bil investment in the US, which could lift sentiment for Inari and Frontken. Meanwhile, TA Securities said the local market may undergo a profit-taking consolidation phase, as investors look to secure recent gains while awaiting key US economic data later this week for cues on the Federal Reserve's monetary policy outlook. 'Immediate index support stays at 1,490, with stronger support found at 1,465 followed by 1,444. 'Immediate resistance remains at 1,564 with next upside hurdles seen at the recent high of 1,586, followed by 1,610 ahead,' it said. The US and China on Monday extended their tariff truce by 90 days, averting steep duties on Chinese goods as US retailers prepare for the year-end holiday rush. SPI Asset Management managing partner Stephen Innes said the US–China tariff game just bought itself another 90 days on the clock, and while that keeps the sledgehammer off the table for now, it's not the kind of truce that sends champagne corks flying. 'Tariffs stay locked where they are until November, a welcome pause after August's slugfest of reciprocal hikes. But the reality is the playing field hasn't been levelled — just tilted a little less steeply against Beijing after Washington quietly threw a few sandbags in the path of other exporters, too,' he said. Innes said, 'This isn't peace, it's halftime,' describing the situation as a pause where the scoreboard remains largely unchanged while both sides prepare for the next round. He added that the 'sledgehammer' has not been put away, merely set aside and awaiting use come November.
New Straits Times
04-08-2025
- Business
- New Straits Times
Puncak Niaga subsidiary to dispose of three loss-making units for RM3
KUALA LUMPUR: Puncak Niaga Holdings Bhd's wholly-owned subsidiary, TRIplc Bhd, is disposing of 100 per cent stake each in three dormant and loss-making units for a total cash consideration of RM3 as part of efforts to streamline its corporate structure and reduce costs. The three companies involved in the proposed disposal are Layar Kekal (M) Sdn Bhd, Samasys Sdn Bhd and Tirai Gemilang Sdn Bhd, each to be sold for RM1, Puncak Niaga said in a filing to Bursa Malaysia today. Puncak Niaga said the three entities have been inactive and have incurred losses since its acquisition of TRIplc Bhd on May 31, 2018, for RM210 million, while the total cost of investment in the three companies was RM150 million. "The board is of the opinion that the cash consideration of RM1 on each company is reasonable, as it enables the group to streamline its structure and achieve cost savings on annual statutory fees," it said. According to the latest audited financial statements for the financial year ended Dec 31, 2024, Layar Kekal, Samasys and Tirai Gemilang recorded net losses of RM5.38 million, RM5.11 million and RM5.30 million respectively and all three companies had net liabilities of RM3,400 each. Puncak Niaga also clarified that the announcement of the disposal was delayed because the company only received the duly stamped share sale agreements in the late evening of July 30, 2025. "As the stamping of the agreements is essential to formalise the transaction, the company proceeded to make the announcement on the next market day -- July 31, 2025. "The short delay also required to complete internal verification and ensure compliance with Bursa Malaysia's disclosure requirements under the Main Market Listing Requirements," it added. Puncak Niaga also disclosed that all three companies share the same set of directors, namely Tan Sri Rozali Ismail, Taufik Afendy Othman, Azlan Shah Rozali, Faridatulzakiah Mohd Bakhry, and Mohammad Shahree Shamsuddin. Copies of the audited financial statements for the financial year ended Dec 31, 2024, and May 31, 2018, are available for inspection at Puncak Niaga's registered office in Shah Alam for a period of three months from the date of this announcement.
New Straits Times
02-07-2025
- Business
- New Straits Times
Malaysia's ESG bond issuance doubles to RM7.9bil in first half of 2025
KUALA LUMPUR: Malaysia's environmental, social and governance (ESG) bond market more than doubled in the first half of 2025, with total issuance soaring to RM7.93 billion from RM3.57 billion a year earlier. Malaysia Rail Link Sdn Bhd topped the list with RM3.9 billion in ESG bonds across eight issues, nearly half of total issuance during the period, according to the latest league tables released by Bond Pricing Agency Malaysia (BPAM). The state-owned firm's funding activities underscore how major infrastructure projects are increasingly embracing sustainability-linked financing in line with national development goals. Malaysia Rail Link is a special purpose vehicle under Minister of Finance Incorporated tasked with overseeing the flagship East Coast Rail Link (ECRL) project. Cagamas Bhd and SunREIT Bond Bhd ranked second and third among top issuers, raising RM800 million and RM520 million respectively. The government emerged as the most traded ESG bond issuer in the secondary market, with a total traded value of RM5.38 billion across 328 bond lines, up from RM2.93 billion a year earlier. Maybank Investment Bank Bhd was the top lead arranger by value, handling RM1.65 billion in ESG bond issuance. Malaysian Trustees Bhd also led among bond trustees with the same amount under its purview. The report shows broadening participation from various sectors, including utilities, healthcare, logistics and property. Notable issuers in these segments include TNB Power Generation Sdn Bhd, Sunway Healthcare Treasury Sdn Bhd, LBS Bina Group Bhd, Pengurusan Air Selangor and Global Vision Logistics Sdn Bhd. BPAM's ESG Bond League Tables are released every six months and track key rankings by issuance volume, traded value and intermediary activity to enhance transparency in Malaysia's growing sustainable finance market.
