FBMKLCI ends 0.1pc down

 

Malaysia’s FTSE Bursa Malaysia KLCI Index fell for a fourth day, losing 1.36, or 0.1 per cent, to close at 1,233.86, the lowest level since October 13. Twelve stocks gained and nine dropped on the 30-member measure.

In the market, 772.2 million shares changed hands, lower than the three-month daily average of 928.2 million shares.

Hong Leong Bank Bhd slid 1.3 per cent to RM7.80, the lowest close since November. 3.

Hong Leong rejected a request by some shareholders of EON Capital Bhd to maintain its earlier takeover offer until 14 days after an extraordinary general meeting to elect new directors.

Hong Leong’s offer for EON lapsed on February 2, when EON’s current board rejected its takeover bid as too low.

Some EON shareholders now plan to hold an extraordinary meeting on Feb. 22 to vote on appointing new directors. EON Capital Bhd, a banking group, dropped 0.8 per cent to RM6.62.

Ingress Corp, a Malaysian auto-parts supplier, rose 4 per cent to 64.5 sen, the steepest gain since January 13.

The company said it won a bid to provide sash products for General Motors Thailand for a new pick-up truck aimed at the Thai and Brazil markets. The sales contract is valued at 974 million baht ($29 million) over seven years, Ingress said in a statement.

PBA Holdings Bhd, a Malaysian water treatment operator, dropped 2.8 per cent to 85.5 sen, the lowest close since December 23.

Fourth-quarter profit slid to RM1.95 million from RM10.2 million
a year earlier, prompting OSK Research Sdn Bhd to cut its share-price forecast to 95 sen from RM1.

Texchem Resources Bhd, an investment company with businesses in specialty chemicals, industrial packaging and foods processing, added 1.1 per cent to 94 sen, the highest close since January 28.

The company said it offered to buy the rest of its Texchem-Pack Holdings Singapore Ltd. unit that it doesn’t already own for S$5.5 million, or at S$0.135 a share. Texchem, which owns 70.5 per cent of Texchem-Pack, plans to delist the Singapore company after the proposed buyout, it said in a statement. - Bloomberg