The Star Online: Business
The Star Online: Business |
- Triumphal soars on selective capital reduction
- Petronas-linked stocks lift KLCI
- MISC minorities should accept Petronas revised offer
| Triumphal soars on selective capital reduction Posted: 07 Apr 2013 07:01 PM PDT Published: Monday April 8, 2013 MYT 10:02:00 AMKUALA LUMPUR: Shares of Triumphal Associates Bhd surged to a high of 96 sen on Monday after its major shareholder, Golden Power Holdings Sdn Bhd, proposed a selective capital reduction. At 9.50am, it was up 22 sen to 96 sen. There were 128,100 shares done. The FBM KLCI slipped 2.96 points to 1,685.69. Turnover was 153.17 million shares valued at RM168.66mil. There were 168 gainers, 196 losers and 180 counters unchanged. Last Friday, Golden Power proposed a selective capital reduction that would result the latter holding the entire issued and paid-up capital that will result in a RM26.7mil cash deal at RM1 per share. Golden Power, together with persons acting in concert (interested shareholders), currently hold about 69.4% stake in Triumphal. |
| Petronas-linked stocks lift KLCI Posted: 07 Apr 2013 06:21 PM PDT KUALA LUMPUR: Malaysia's blue chips opened higher on Monday, underpinned by gains in Petronas-related counters and KL Kepong. It opened 3.02 points higher at 1,691.67. However, by 9.05am, it gave up most of the gains and it was up just 0.97 of a point to 1,689.62. Turnover was 43.48 million shares valued at RM28.64mil. There were 123 gainers, 56 losers and 96 counters unchanged. Asian stocks rose as the yen fell for a third day after the Bank of Japan's record stimulus. Markets in China may be affected after the country reported cases of a new variant of bird flu, according to Bloomberg. At Bursa Malaysia, Petronas Gas rose 20 sen to RM19.08 and Petronas Dagangan 16 sen higher at RM23.30. Plantations-based KL Kepong gained 24 sen to RM21.36 while BAT added eight sen to RM63.02. Triumphal Associates wasa the top gainer, surging 22 sen to 96 sen, after its major shareholder, Golden Power Holdings Sdn Bhd, proposes a selective capital reduction that will result the latter holding the entire issued and paid-up capital that will result in a RM26.7mil cash deal at RM1 per share. Top Glove gained 15 sen to RM5.88 on expectations of stronger external demand for its gloves after a new variant of bird flu appeared in China. The decliners were GAB, down 18 sen to RM17.82 with just 100 shares done. KLCCP lost nine sen to RM7, Genting eight sen to RN10.10 and Sunway seven sen to RM3.03. |
| MISC minorities should accept Petronas revised offer Posted: 07 Apr 2013 06:07 PM PDT Published: Monday April 8, 2013 MYT 9:07:00 AMKUALA LUMPUR: RHB Research Institute has advised minority shareholders of MISC Bhd to accept Petroliam Nasional Bhd's revised offer of RM5.50, which is its new fair value. The research house had on Monday said it had then downgraded MISC to Neutral. "We wait for more exciting times ahead when MISC (or its business entities) goes for relisting for fund raising activities on the back of improved valuations," said RHB Research. |
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