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IN 2019, Lembaga Tabung Angkatan Tentera (LTAT) set a goal to reduce its heavy dependence on dividend income from the listed Boustead group of companies as part of its plan to rebalance its investment portfolio. Two years on, it seems no closer to realising that goal after it aborted its plan to take Boustead Holdings Bhd private last week.
The proposed privatisation was mooted by LTAT last May in what was seen as an important step for the armed forces pension fund to support the potential restructuring of the loss-making diversified conglomerate’s businesses away from the scrutiny of public shareholders and regulators. The proposal is now entirely off the table and attention has now shifted to Boustead to turn itself around.
PETALING JAYA: Trading in glove stocks over the near-term is expected to remain volatile, as these companies will be under constant pressure to maintain the super profits they enjoyed last year.
ON Tuesday, Haris (not his real name), a 35-year-old architect in Malaysia, told some of his friends to consider buying into a little-known US-listed stock. His pick was GameStop, a loss-making brick-and-mortar video game retailer.
Saturday, 30 Jan 2021 02:48 PM MYT
BY SYED JAYMAL ZAHIID
Top Glove’s share price gained 40 sen or a 7 per cent surge as of noon yesterday, just hours after news emerged that retail investors are behind a drive to prop up the stocks of the world’s largest medical glove maker. Bernama pic
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KUALA LUMPUR, Jan 30 A stock market watchdog has warned the public about the risk of social media investment tips after local retail investors behind the “Bursabets” drive helped prop up share prices of local glove manufacturers yesterday.