The Star Online: Business

Sumatec up ahead of meeting on O&G asset buy plan
Ringgit falls to 1-yr low at 3.2010 versus US dollar
Malaysia's KLCI falls nearly 10 points in early trade

Sumatec up ahead of meeting on O&G asset buy plan

Posted: 19 Jun 2013 07:14 PM PDT

KUALA LUMPUR: Sumatec Resources Bhd shares and warrants advanced on Thursday ahead of a shareholders' meeting on the purchase of of oil and gas (O&G) assets in Kazakhstan on Friday.

At 9.55am, Sumatec shares rose 3.5 sen to 24.5 sen. There were 11.45 million shares traded.

Its warrants, Sumatec-WA rose two sen to 11.5 sen with 5.55 million units done.

However, the FBM KLCI fell 11.12 points to 1,761.76. Turnover was 343.68 million shares valued at RM208.02mil. Declining stocks beat advancers 362 to 79 while 174 counters were unchanged.

StarBiz reported the shareholders will vote on its regularisation plan involving the acquisition of oil and gas (O&G) assets in Kazakhstan on Friday, close to one year upon submission.

News of tycoon Tan Sri Halim Saad injecting his O&G assets into the debt-laden company first emerged in November 2011. Halim, via his vehicle Markmore Energy (Labuan) Ltd and CaspiOilGas LLP (a subsidiary of Markmore Energy Sdn Bhd), had signed an agreement with Sumatec to develop and extract fuel in the Shelly Oil Field.

Through the deal, CaspiOilGas would award a production sharing contract to Sumatec, which, in turn, would place new shares to new third-party investors agreed by both companies.

Ringgit falls to 1-yr low at 3.2010 versus US dollar

Posted: 19 Jun 2013 06:36 PM PDT

Published: Thursday June 20, 2013 MYT 9:35:00 AM
Updated: Thursday June 20, 2013 MYT 9:36:18 AM

KUALA LUMPUR: The ringgit fell to a one-year low of 3.2010 against the US dollar in early trade on Thursday.

At 9.21am, it was quoted at 3.1991 against the greenback.

Bloomberg reported the 1.6% fall to 3.2010 was the most since Nov 1, 2011.

Malaysia's KLCI falls nearly 10 points in early trade

Posted: 19 Jun 2013 06:14 PM PDT

KUALA LUMPUR: Malaysia's FBM KLCI fell nearly 10 points in early trade, reflecting the cautious key regional markets, after the US Federal Reserve said it would begin slowing the pace of its bond-buying stimulus later this year.

At 9.02am, the KLCI was down 9.85 points to 1,763.03. Turnover was 66.90 million shares valued at RM21.86mil. There were 35 gainers, 158 losers and 94 counters unchanged.

Reuters reported Japan's Nikkei share average fell on Thursday after Fed Chairman Ben Bernanke confirmed market fears that the U.S. central bank could trim its bond buying programme later this year.

The Nikkei 225 dropped 1.1% at 13,100.86, while the broader Topix shed 0.8% to 1,097.75.

At Bursa Malaysia, heavyweight Sime Darby fell 16 sen to RM9.40 while Batu Kawan was down 24 sen to RM19.20 with 100 shares done.

Aeon Credit's recent rally halted momentarily, as it shares shed 10 sen to RM17.70. Among the banks, CIMB fell nine sen to RM8.20 and Public Bank eight sen lower at RM16.92.

Kredit: www.thestar.com.my

Rabu, 19 Jun 2013