batu kawan


Ikea to open first outlet in northern peninsula on March 14

BUTTERWORTH, Feb 15 — Swedish furniture brand Ikea will open its first outlet in the northern region of Peninsular Malaysia in Batu Kawan, Penang, on March 14. Ikea Malaysia store manager Arumugam Pathmalingam said the new outlet, the brand’s…

Aspen-Ikea JV invests RM2.6b in world-class metropolis in Penang

BATU KAWAN, Feb 2 — Aspen Vision City Sdn Bhd, a joint-venture (JV) company between Aspen Group Holdings Ltd and IKEA Southeast Asia, has invested more than RM2.6 billion to date in its 99.15-hectare (ha) master-planned metropolis in mainland…

FedEx opens RM17.6m integrated facility in Penang

GEORGE TOWN, Jan 10 ― FedEx Express launched its RM17.6 million FedEx Penang Gateway facility in Batu Maung today. The new facility is an integrated warehouse and sorting facility for both FedEx and TNT operations in the region. It will serve as a…

Knight Frank: Mixed outlooks for Penang, JB and Kota Kinabalu

GEORGE TOWN, Jan 8 — The general outlook for the property sector in Penang was positive but less so in Johor Baru and Kota Kinabaly, according to Knight Frank Malaysia’s Real Estate Highlights for the Second Half of 2018. The residential sector…

Bursa Malaysia ends higher on 11th-hour window dressing

KUALA LUMPUR: Bursa Malaysia rebounded from earlier losses to finish the last full trading week of 2018 higher, lifted by the eleventh-hour window dressing activities amid thin holiday season trading.

At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) wrapped up the day 1.35 points or 0.08% firmer at 1,692.07 from Thursday’s close of 1,690.72.

The barometer index moved between 1,684.47 and 1,694.08 throughout the day, after opening 2.81 points weaker at 1,687.91.

Inter-Pacific Research Sdn Bhd head of research Pong Teng Siew said in tandem with the global stock markets, Bursa Malaysia was traded in a lacklustre mode today as many investors were away from their desks for holidays.

“I suspected the institutional investors were just doing a lukewarm window dressing by not purchasing the big-capitalised stocks like what they did over the past week,“ he told Bernama.

Total volume was slightly lower today, with 1.41 billion shares worth RM1.10 billion being traded from 1.60 billion shares worth RM1.21 billion yesterday.

Market breadth was positive with 385 gainers outpacing 343 losers, while 395 counters were unchanged, 764 untraded and 54 others suspended.

Among heavyweights, Maybank rose three sen to RM9.43, Public Bank and CIMB were unchanged at RM24.88 and RM5.78, respectively, while Tenaga was two sen lower at RM13.56.

Of actives, Hubline and Velesto inched up half-a-sen each to 4.5 sen and 18 sen, respectively, VS Industry added 1.5 sen to 72 sen, Bumi Armada gained one sen to 16 sen, while Sapura Energy eased one sen to 28.5 sen and Yong Tai was two sen lower at 36 sen.

F&N emerged as the top gainer, bagging RM1.04 to RM33.36, followed by United Plantations which rose 54 sen to RM25.64, PPB and KLK, which improved 50 sen each to RM17.70 and RM24.64, respectively, while Batu Kawan was 28 sen firmer at RM16.68.

The FBM Emas Index perked 13.66 points to 11,537.30, the FBMT 100 Index increased 11.82 points to 11,454.58 and the FBM Emas Shariah Index advanced 24.13 points to 11,509.42.

The FBM Ace Index was 22.54 points higher at 4,260.20 and the FBM 70 accumulated 24.96 points to 13,091.52.

Sector-wise, the Industrial Products and Services Index edged up 0.38 of-a-point to 166.81, the Plantation Index advanced 68.71 points to 6,897.74 and the Finance Index slid 5.36 points to 17,341.69.

Main Market volume slipped to 1.04 billion shares worth RM1.02 billion from 1.11 billion shares worth RM1.10 billion on Thursday.

Warrants turnover dropped to 216.53 million units valued at RM53.04 billion versus 328.38 million units valued at RM75.07 million.

Volume on the ACE Market retreated to 125.23 million shares worth RM23.17 million from 161.66 million shares worth RM28.24 million yesterday.

Consumer products and services accounted for 179.55 million shares traded on the Main Market, industrial products and services (183.12 million), construction (62.99 million), technology (101.50 million), SPAC (5.67 million), financial services (21.32 million), property (100.33 million), plantations (20.47 million), REITs (19.31 million), closed/fund (nil), energy (199.36 million), healthcare (19.32 million), telecommunications and media (23.83 million), transportation and logistics (102.10 million), and utilities (9.41 million). — Bernama

Micron’s new facility to offer 1,000 high-value jobs

GEORGE TOWN: Micron Technology Inc’s new centre of excellence for solid state drive (SSD) assembly and test in Batu Kawan is expected to create 1,000 high-value jobs in the electrical and electronics (E&E) sector once it is completed in 2021. Penang Chief Minister Chow Kon Yeow said Micron would invest RM1.5 billion in Penang within […]

Penang scores RM1.5b Micron investment

GEORGE TOWN, Nov 30 — US multinational Micron Technology announced today its plan to set up a plant in Batu Kawan with an initial investment of RM1.5 billion. Micron Technology senior vice president for backend operations Gursharan Singh said the…

KLCI drifts lower as Public Bank, Tenaga drag

market repor

KUALA LUMPUR (Nov 15): The FBM KLCI drifted lower at mid-morning today, as losses at Public Bank and Tenaga Nasional kept the benchmark index from advancing. At 10am, the FBM KLCI was down 1.29 points to 1,687.12. Gainers led losers by 258 to 202, while 255 counters traded unchanged. Volume was 455.31 million shares valued at RM243.93 million. The top losers included Fraser & Neave Holdings Bhd, British American Tobacco (M) Bhd, Batu Kawan Bhd, Daibochi Bhd, Public Bank Bhd, Tenaga Nasional Bhd, Cahya Mata Sarawak Bhd, Nestle (M) BhdRead More

Paramount selling three campuses for RM420m

PETALING JAYA: In a bid to streamline assets to achieve a more efficient capital structure and realise investment value, Paramount Corp Bhd is selling three of its campuses in Penang and Selangor to Dynamic Gates Sdn Bhd (DGSB) for RM420 million.

DGSB will pay RM294 million cash and the balance RM126 million through the issuance of new cumulative redeemable non-convertible preference shares at an issue price of RM1 in DGSB.

Subsequently, Paramount will lease back the properties from DGSB. The terms of the master lease agreement are being finalised.

In a filing with the stock exchange, Paramount told Bursa Malaysia that it had entered into three agreements for the sale of two premises of KDU Penang University College Campus in GeorgeTown and Batu Kawan as well as Utropolis Glenmarie Campus in Shah Alam for RM50 million, RM120 million and RM250 million, respectively.

The proposed transaction will not give rise to any gains accruing to Paramount as it will be undertaken via a securitisation exercise whereby the control of the campus will remain with the group.

DGSB was incorporated as the special purpose vehicle for the purpose of the securitisation exercise. Its sole shareholder is Asia International Trust Bhd.

DGSB will finance the acquisition through the issuance of medium-term notes of up to RM300 million, and also grant a call option in favour of Paramount. Paramount will grant a put option in favour of DGSB for the purpose of acquiring the campuses at the then prevailing market value.

Of the cash proceeds of RM294 million, Paramount said some RM191.5 million will be used for financing/refinancing of borrowings and RM100 million for partial redemption of private debt securities. As at end-September 2018, its total borrowings and PDS amounted to about RM913.24 million and RM200 million, respectively.

Bursa shows broad-based decline as KLCI retraces early gains


KUALA LUMPUR: Bursa Malaysia retraced its steps following a jump in early morning trade and ended in negative territory at midday. The stock exchange reacted to positive news over rising oil prices and tracked gains on Wall Street as it opened for business following a four-day weekend. However, it soon lost momentum and joined other Asian markets in the red as the threats of yet further US trade tariffs on Chinese imports rattled investors. Over the course of the morning session, the index traded in a range of 37.65 points.Read More