batu kawan


KLCI drifts lower as Public Bank, Tenaga drag

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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

Two Malaysian firms in Forbes Fab 50 list, one makes magazine’s cover


KUALA LUMPUR, Sept 6 ― Malaysia’s Press Metal Aluminium and Batu Kawan both squeezed into this year’s Forbes 50 list that was increasingly dominated by Chinese corporations. Outside of China, India was the second-best represented nation in the…

Malaysian stocks start week on positive note


KUALA LUMPUR (Aug 20): Malaysian stocks started the week on a positive note, as selected heavyweight counters like Petronas Chemicals Group Bhd, Axiata Group Bhd and DiGi.Com Bhd lifted the benchmark FBM KLCI up 4.11 points or 0.23% despite negative market breadth. The KLCI traded within a range of 1,782.74 points to 1,791.14 points before finishing at 1,787.58 points. Hong Leong Investment Bank Bhd head of retail research Loui Low told that all eyes are focused on Prime Minister Tun Dr Mahathir Mohamad’s official visit to China, to seeRead More

KLCI struggles to climb higher as sentiment stays tepid


KUALA LUMPUR (July 30): The FBM KLCI struggled to climb higher at mid-morning today as sentiment at the local bourse stayed tepid in line with regional markets. At 10.15am, the FBM KLCI shed 0.59 points to 1,768.55. Losers led gainers by 329 to 215, while 327 counters traded unchanged. Volume was 758.35 million shares valued at RM355.78 million. The top decliners included Heineken Malaysia Bhd, Malaysian Pacific Industries Bhd, Time dotCom Bhd, DKSH Holdings (M) Bhd, IHH Healthcare Bhd, Petronas Gas Bhd, Petron Malaysia Refining & Marketing Bhd, Top GloveRead More

KLCI reverses loss, climbs 0.44% as Maybank, Public Bank lift


KUALA LUMPUR (July 12): The FBM KLCI reversed its earlier losses and climbed 0.44% at midday break, tracking regional markets, lifted by gains including at banking heavyweights Malayan Banking Bhd and Pulic Bank Bhd. At 12.30pm, the FBM KLCI rose 7.41 points to 1,696.18. The index had earlier slipped to its intra-morning low of 1,686.14. Gainers overtook losers by 277 to 236, while 506 counters traded unchanged. Volume was 1.24 billion shares, valued at RM815.69 million. Top gainers included Malaysian Pacific Industries Bhd, Kossan Rubber Industries Bhd, Maybank, Hartalega HoldingsRead More

KLCI remains under pressure as spectre of trade war hangs over global markets


KUALA LUMPUR (July 12): The FBM KLCI remained presured at mid-morning today, tracking regional markets as market sentiment stayed tepid with the spectre of a U.S.-China trade war still hanging over global markets. At 10am, the FBM KLCI was down 1.77 points to 1,687.00. Losers led gainers by 238 to 197, while 249 counters traded unchanged. Volume was 520.77 million shares valued at RM253.27 million. The decliners included Nestle (M) Bhd, British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Batu Kawan Bhd, PPB Group Bhd, Malaysian Pacific Industries Bhd,Read More

KLCI turns negative as trade war anxiety weighs


KUALA LUMPUR (July 5): The FBM KLCI turned negative at midday break today in tandem with most regional markets, on investors’ anxiety ahead of the Friday deadline for additional U.S. tariffs on Chinese products. At 12.30pm, the benchmark FBMKLCI dipped 0.62 points to 1,687.83. The index had earlier risen to its intra-morning high of 1,691.62. Decliners led advancers by 273 to 250, while 498 counters traded unchanged. Volume was 1.27 billion shares, valued at RM668.89 million. Top losers included Allianz Malaysia Bhd, United Plantations Bhd, Public Bank Bhd, Heineken MalaysiaRead More

Bursa lower at midday as trade war fears continue


KUALA LUMPUR: Bursa Malaysia slipped into a sea of red in the morning session as fears over the looming US taxes on Chinese imports shook global markets. The Shanghai Composite Index extended its losses by a further 0.9%, dragging down Asian equities one day ahead of the July 6 deadline on the trade tariffs. At 12.30pm, the FBM KLCI was 0.62 points lower at 1,687.83 after having spent the mid-morning session in postive territory. Turnover was muted to the tune of 1.27 billion shares with a value of RM668.89mil. ThereRead More