Bursa Malaysia ended broadly lower after a lacklustre trading session as investors seemed reluctant to make significant moves due to the absence of buying catalyst, said Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng.
theedgemarkets.com highlighted seven stocks at Bursa Malaysia’s afternoon close on Friday (Feb 4). Four indicated negative momentum, while three showed positive momentum.
Bursa Malaysia ended sharply lower with selling pressure seen across the board as investors reacted negatively to the one-off prosperity tax tabled during Budget 2022, dealers said.
BUSINESSMAN Datuk Eddie Ong Choo Meng who, in the last few years, has invested in several public-listed companies that manufacture gloves, agrochemicals, furniture, plastic and industrial products has now ventured into fibre optics.
Last month, Datuk Seri Mukhriz Tun Dr Mahathir, son of former prime minister Tun Dr Mahathir Mohamad, ceased to be a substantial shareholder of Opcom Holdings Bhd which he co-founded in 1994 after disposing of 24.63 million shares, or a 15.28% stake, in the fibre-optic manufacturer.
Few are aware that Ong was the buyer of that block of shares, which were acquired at 84 sen apiece, or a total of RM20.69 million, on Feb 10. This made him the largest shareholder of Opcom. Ong is also a major shareholder of listed companies such as Hextar Global Bhd, SCH Group Bhd, Rubberex Corp (M) Bhd and, most recently, SWS Capital Bhd.
The payments will be staggered over six months with the first payment of up to RM5,000.
For those who have above RM100,000 (Account 1), they have access of up to 10% of their Account 1 savings.
China’s Nine Dragons Paper plans to invest RM5.4bil in a paper mill and a factory in Malaysia.
Tan Sri Muhyiddin said the Malaysian Government s policy is always pro-business and very supportive and ready to offer attractive incentives to investors.
These projects will create a total of 2,180 job opportunities of which, nearly 90% will be Malaysians
Corporate News
Genting Malaysia is asking some employees to agree to a temporary reduction of 15% or 20% in basic salary based on their ranks.