The Star Online: Business
The Star Online: Business |
- KLCI above 1,650, Petronas stocks, KLK up
- Trading in BRDB suspended an hour after disposal aborted
- Datasonic opens 15% higher at RM2.30
| KLCI above 1,650, Petronas stocks, KLK up Posted: 02 Sep 2012 06:43 PM PDT KUALA LUMPUR: Blue chips started the new month on a firm note on Monday, with the FBM KLCI crossing the important 1,650 level in early trade, lifted by gains in Petronas-related stocks and KL Kepong. At 9.26am, the KLCI was up 5.16 points to 1,651.27. Turnover was 142.25 million shares valued at RM118.38mil. There were 177 gainers, 110 losers and 166 counters unchanged. However, Asian stocks fell, with the regional benchmark index headed for the lowest close in a month, as economic reports from New Zealand to South Korea, Japan and China stoked concern that the region's economy is slowing, Bloomberg reported. At Bursa Malaysia, United Plantations rose 38 sen to RM26.90 with 100 shares done while KLK gained 22 sen to RM23.46. Datasonic, which made its debut on the Main Board, was steady at RM2.30, up 30 sen with 6.79 million shares done. APM rose 31 sen to RM4.97, Aeon Credit 20 sen to RM13.30 and F&N 18 sen to RM20.08. Petronas Gas and Petronas Dagangan added 10 sen each to RM19.48 and RM22.50. Petrol One fell the most, down 10.5 sen to 41 sen, BAT eight sen lower at RM63.70, Favco six sen to RM1.65 while Maxis shed five sen to RM6.99. |
| Trading in BRDB suspended an hour after disposal aborted Posted: 02 Sep 2012 06:42 PM PDT KUALA LUMPUR: Trading in securities of Bandar Raya Developments Bhd was voluntarily suspended for an hour from 9am on Monday after it announced it would not go ahead to dispose of several properties. It said on Monday it would not go ahead to undertake a tender exercise of its 100% stake in BR Property Holdings Sdn Bhd and selected investment properties comprising CapSquare Retail Centre and Permas Jusco Mall. It said it would not be able to proceed with the proposed disposal after it received a notice of conditional takeover offer from Amabang Sehati Sdn Bhd. "The proposed disposal is therefore deemed aborted," it said. DRDB also announced the resignations with immediate effect of CIMB Investment Bank Bhd and Lee Hishammudin Allen & Gledhill as the company's advisers for the proposed disposal. Last Thursday, BRDB said it had received a notice of conditional take-over offer from Ambang Sehati all the ordinary shares at a cash offer price of RM2.90 per offer share and all the outstanding warrants at a cash offer price of RM1.80 per offer warrant. |
| Datasonic opens 15% higher at RM2.30 Posted: 02 Sep 2012 06:16 PM PDT KUALA LUMPUR: Datasonic Group Bhd opened at RM2.30, which was a premium of 15% or 30 sen above its offer price of RM2, when made its debut on the Main Market of Bursa Malaysia on Monday. There were 907,500 shares traded. At 9.01am, it was trading at RM2.30. There were 1.99 million shares done. The FBM KLCI was up 3.85 points ti 1,649.96. There were 34.61 million shares done valued at RM32.90mil. There were 96 gainers, 47 losers and 117 counters unchanged. RHB Research had a fair value of RM2.13 for the shares. Its listing exercise involved the public issue of 20.5 million new shares and offer for sale of 7.9 million shares. Its core activities are ICT solutions including personalisation of smart cards (ID or chip-based cards), customisation of software and hardware solutions, project management, consultancy, R&D and technical consultancy services. RHB Research said Datasonic plans to expand its market share and position by acquiring new projects and customers as it penetrates into new industries such as the healthcare and transportation sectors. The company plans to set up a new headquarters as a regional personalisation solution (RPS) which would allow its card customisation card capacity to increase by 3,500 cards/day to 13,650 cards/day. Also, the company plans to establish a smart card manufacturing plant to produce 750,000 cards/month. The research house said Datasonic plans to enhance and strengthen its technical competencies in the provision of ICT solutions. |
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