At 10am, the FBM KLCI had jumped 11.14 points to 1,652.31.
Market breadth was positive with 536 gainers and 370 losers, while 402 counters traded unchanged. Trading volume was 2.67 billion shares valued at RM929.45 million.
The top gainers included KPower Bhd, Public Bank Bhd, CN Asia Corp Bhd, Greatech Technology Bhd, Carlsberg Brewery Malaysia Bhd, Ajinomoto (Malaysia) Bhd, Batu Kawan Bhd, Hong Leong Financial Group Bhd and JF Technology Bhd.
The actively traded stocks included AT Systematization Bhd, Fintec Global Bhd, Land & General Bhd and Iris Corp Bhd.
The decliners included Nestle (Malaysia) Bhd, Supermax Corp Bhd, Dutch Lady Milk Industries Bhd, Lii Hen Industries Bhd, AEON Credit Service (M) Bhd, Top Glove Corp Bhd and QL Resources Bhd.
Dutch Lady lays out plan for RM340 million factory in Seremban thesundaily.my - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thesundaily.my Daily Mail and Mail on Sunday newspapers.
KUALA LUMPUR (Dec 17): Based on corporate announcements and news flow today, companies that may be in focus on Friday (Dec 18) include: Latitude Tree Holdings Bhd, Metronic Global Bhd, My EG Services Bhd, Dutch Lady Milk Industries Bhd, Affin Bank Bhd, Eco World Development Group Bhd, Eco World International Bhd, VS Industry Bhd, Scientex Bhd, LKL International Bhd and Perak Corp Bhd.
Latitude Tree Holdings Bhd has proposed a one-for-one bonus issue of up to 97.16 million new shares plus an employees’ share scheme (ESS) of up to 10% of the total issued share capital of the company.
The furniture maker said the actual number of bonus shares to be issued will depend on the total issued shares on the entitlement date, which will be determined and announced at a later date upon receipt of all relevant approvals. It said the ESS is for eligible directors and employees of the company and its subsidiaries.
Dutch Lady investing RM340m to build new facilities in Negeri Seremban theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
Last week was a good week for Public Bank Bhd as its share price spiked 18.6% after it announced a four-for-one bonus issue on Tuesday.
It was unexpected, given that Public Bank’s last bonus issue was in 2003, having earlier undertaken a similar exercise in 2002 and 2001. In 2004, it had embarked on a share split.
Moreover, the banking sector has not seen such a corporate exercise in a decade as the last bonus issue undertaken by a bank was by CIMB Group Holdings Bhd in 2010.
While the value of a stock does not really change fundamentally, a bonus issue or share split is viewed positively as it tends to attract more retail interest because the stock price appears more affordable post exercise.