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New Straits Times
5 days ago
- Business
- New Straits Times
Bursa Malaysia ends mixed in choppy trading
KUALA LUMPUR: Bursa Malaysia ended a choppy but directionless trading session, with the index moving in a narrow range, amid global uncertainties, as investors refrained from taking long positions. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) reversed earlier losses to settle 0.31 of-a-point, or 0.02 per cent, higher at 1,511.95 from Tuesday's close of 1,511.64. The benchmark index opened 0.25 of-a-point higher at 1,511.89 and fluctuated between 1,509.42 and 1,512.96 throughout the trading session. The broader market was however negative, with 488 decliners outnumbering 361 gainers. A total of 503 counters were unchanged, 1,054 untraded and 13 suspended. Turnover declined to 2.42 billion units valued at RM1.79 billion compared with Tuesday's 3.03 billion units worth RM1.92 billion. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said key regional indices finished broadly lower as geopolitical tensions escalated over potential involvement of the US in the Israel-Iran conflict. Risk appetite declined amid reports that US President Donald Trump had met with senior advisers to review military options, including possible strikes on Iran. "Locally, we maintain our cautious stance due to the escalation geopolitical tensions in the Middle East. "We are hopeful that Israel and Iran will engage in peace talks to ease tensions and restore confidence among local investors," he told Bernama. Thong noted that buying opportunities may emerge in oil and gas and plantation stocks. "For the moment, we maintain our weekly FBM KLCI target at the 1,500-1,530 range," he said. Meanwhile, UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Mohd Sedek Jantan said on the local front, attention turned to the progress of the US-Malaysia trade negotiations. Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Aziz and his delegation's arrival in Washington to engage with US Trade Representative Jamieson Greer and senior officials marks a pivotal moment in addressing tariff-related uncertainties that have clouded investor outlook in recent weeks. "Despite the cautious backdrop, selected domestically oriented sectors saw notable interest. Consumer discretionary and telecommunications stocks led gainers, underscoring investor confidence in Malaysia's underlying economic resilience," said Mohd Sedek. Adding to the constructive narrative, Malaysia's sharp rise in the latest International Institute for Management Development (IMD) World Competitiveness Ranking (WCR) 2025 -- advancing 11 spots to 23rd globally -- reinforces the country's reform momentum and macroeconomic credibility. "This supports our positive medium-term outlook, particularly for the construction sector, where structural themes such as hyperscale data centre investments and the Johor-Singapore Special Economic Zone are expected to serve as key catalysts for growth," he added. Among heavyweights, Maybank gained 7.0 sen to RM9.62, Tenaga dipped 8.0 sen to RM14.22, Public Bank added 2.0 sen to RM4.24, CIMB slid 1.0 sen to RM6.65, and IHH Healthcare eased 4.0 sen to RM6.85. As for the most active stocks, Tanco Holdings inched up half-a-sen to 98 sen, SNS Network Technology gained 4.0 sen to 53.5 sen, Magma Group rose 3.0 sen to 46 sen, NexG shed 1.5 sen to 34.5 sen, and Alam Maritim Resources slid half-a-sen to 3.0 sen.
Focus Malaysia
5 days ago
- Business
- Focus Malaysia
Bursa Malaysia ends mixed in choppy trading
Bursa Malaysia ended a choppy but directionless trading session, with the index moving in a narrow range, amid global uncertainties, as investors refrained from taking long positions. At 5 pm, the FBM KLCI reversed earlier loss to settle 0.31 of-a-point, or 0.02 per cent, higher to 1,511.95 from Tuesday's close of 1,511.64. The benchmark index opened 0.25 of-a-point higher at 1,511.89 and fluctuated between 1,509.42 and 1,512.96 throughout the trading session. The broader market was however negative, with 488 decliners outnumbering 361 gainers. A total of 503 counters were unchanged, 1,054 were untraded and 13 suspended. Turnover declined to 2.42 bil units valued at RM1.79 bil compared with Tuesday's 3.03 bil units worth RM1.92 bil. —June 18, 2025
Focus Malaysia
6 days ago
- Business
- Focus Malaysia
Bursa Malaysia closes lower amid foreign outflow, heightened middle east tensions
BURSA Malaysia closed lower on Tuesday amid foreign fund outflows as investors weighed the escalating Israel-Iran tensions following US President Donald Trump's call for immediate evacuation of Tehran, analysts said. At 5 pm, the FBM KLCI dropped 8.35 points, or 0.54 per cent, to 1,511.64 from Monday's close of 1,519.99. The benchmark index opened 1.17 points lower at 1,518.82 and fluctuated between 1,510.92 and 1,520.89 throughout the trading session. Market breadth was negative, with 538 decliners outpacing 353 gainers, while 494 counters were unchanged, 1,031 untraded and 22 suspended. Turnover expanded to 3.03 bil units worth RM1.92 bil compared with Monday's 2.83 bil units valued at RM2.04 bil. —June 17, 2025
New Straits Times
29-05-2025
- Business
- New Straits Times
ASM Automation targets RM21.82 million proceed from Bursa listing
KUALA LUMPUR: Automation machinery solutions specialist ASM Automation Group Bhd aims to raise gross proceeds of RM21.82 million from its initial public offering (IPO), en route to a listing on the ACE Market of Bursa Malaysia. Priced at 17 sen per share, the IPO will offer up to 34 per cent stake in the company. The IPO involves a public issue of 128.34 million new shares, representing 24 per cent of ASM Automation's enlarged issued share capital of 534.77 million shares. It also includes an offer for sale of 53.48 million existing shares, equivalent to 10 per cent of the enlarged issued share capital. Application will close on June 19, and the company is scheduled for listing on July 2. ASM Automation plans to allocate RM11.40 million or over half of the IPO proceeds for the acquisition of 70,000-square-feet land and construction of a new factory to increase production and assembly capacity. A total of RM2.3 million or 10.5 per cent is earmarked for purchase of machinery, equipment and components used in assembling demonstration machineries to support operational growth and customer engagement. The company also will use RM2 million or 9.2 per cent of the proceeds for design and development activities to enhance research and development capabilities, while RM1.92 million or 8.8 per cent is for working capital to support day-to-day operations. The remaining RM4.2 million or 19.3 per cent of the proceeds will be used to pay the listing expenses. ASM Automation managing director Chan Kok Heng said it is now well-positioned to deepen its technical capabilities and expand its market reach, having evolved from a local custom automation provider into a trusted name in the automation machinery solutions industry. "The IPO will not only provide the funding required for our expansion plans but also enhance our visibility and credibility as a public-listed automation machinery solutions provider. "With these resources, we aim to scale our innovation, manufacturing capacity and export footprint to deliver even greater value to our customers," he said in a statement.
