BETWEEN Dec 7 and 11, notable filings of companies listed on Bursa Malaysia included one by
Chemical Company of Malaysia Bhd (CCM), where Permodalan Nasional Bhd ceased to be a shareholder after disposing of 76.45 million shares in a share sale.
This came on the heels of an offer by Batu Kawan Bhd to buy all the shares in CCM it did not already own at RM3.10 per share. Subsequently, Batu Kawan emerged as the largest shareholder in CCM with a 59.73% stake, from 3.41% previously.
Boardroom changes followed, starting with the resignation of chairman Datuk Idris Kechot. Non-independent non-executive directors Amizar Mizuar and Zainal Abidin Jamal followed suit. Tan Chee Heng, Dr Tunku Alina Raja Muhd Alias and Datuk Lee Hau Hian were appointed as non-independent non-executive directors.
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.
The benchmark index closed 0.38% or 6.33 points lower at 1,641.17.
Investors offloaded their holdings ahead of the long Christmas weekend, remisier Jeffry Azizi Jaafar told theedgemarkets.com.
He said sentiment was cautious as the country s Covid-19 cases remained high, especially among foreign workers.
Jeffry expects the KLCI to stay muted next week in the absence of window-dressing activities.
On the broader market, 587 counters ended lower versus 514 gainers, while 480 others were unchanged.
A total of 6.67 billion securities worth RM2.83 billion were traded. This is the lowest trading value since Oct 1 when it stood at RM2.61 billion.
Yesterday, 6.31 billion securities changed hnads at a total value of RM3.41 billion.
KUALA LUMPUR (Dec 22): The FBM KLCI ended almost 1% lower today on continued profit taking, as sentiment remained jittery on concern over the resurgence of Covid-19 cases.
The benchmark index stayed in negative territory throughout the trading session. It closed 0.97% or 15.97 points down at 1,631.92 after hitting an intra-day low of 1,625.39.
TA Securities Holdings Bhd senior technical analyst Stephen Soo told theedgemarkets.com that worries over a new strain of Covid-19 in Europe affected market sentiment.
He added that the downtrend was also due to profit taking in recovery play on technology, banking and tourism-related stocks.
On the broader market, 1,046 counters finished lower versus 251 gainers, while 395 others were unchanged.
KUALA LUMPUR (Dec 17): Based on corporate announcements and news flow today, companies that may be in focus on Monday (Dec 21) include: Chemical Company of Malaysia Bhd, NWP Holdings Bhd, Pecca Group Bhd, Reservoir Link Energy Bhd, Bermaz Auto Bhd, Pegasus Heights Bhd, Hai-O Enterprise Bhd, PCCS Group Bhd, Gas Malaysia Bhd, PLS Plantation Bhd, Fintec Global Bhd, NetX Holdings Bhd, Puncak Niaga Holdings Bhd and NTPM Holdings Bhd.
Seasoned investor Pui Cheng Wui has emerged as a substantial shareholder of
Chemical Company of Malaysia Bhd (CCM) after acquiring 27.03 million shares or a 16.12% stake in the company. The move comes just a month after Batu Kawan Bhd announced the acquisition of a 56.32% stake in CCM from Permodalan Nasional Bhd. Pui’s purchase of the 16.12% stake was made in the open market on Dec 16. The block of shares would have cost him RM83.26 million based on the closing price of RM3.08 on Dec 16.