PETALING JAYA: Nestle Malaysia Bhd has set aside RM220 million in capital expenditure (capex) for 2019, the highest in the past five years.
“Some RM100 million of the capex will go to our Chembong factory to establish the world’s largest milo manufacturing centre,” said its CEO Juan Aranols (pix) at a media briefing after its AGM here today.
The remaining RM120 million will be utilised to increase the capacity of six other factories.
KUALA LUMPUR: Bursa Malaysia ended higher today on continued buying momentum led by heavyweight MISC as investors sentiment improved, sparked by better-than-expected corporate earnings in the US, dealers said.
At the close, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) rose 0.64% or 10.57 points to 1,638.01 from Tuesday’s close of 1,627.44.
The index opened 6.26 points higher at 1,633.70 and moved between 1,633.70 and 1,640.96 throughout the trading session.
Market breadth was positive as gainers trounced losers 598 to 328, while 422 counters were unchanged, 568 untraded and 31 others suspended.
Volume swelled to 4.38 billion units worth RM2.84 billion against Tuesday’s 3.73 billion units valued at RM2.47 billion.
MISC improved 2.58% or 17 sen to RM6.76 with 1.57 million shares changing hands.
MISC president and CEO Yee Yang Chien today said the company was expected to secure more projects this year, given its capability to take up to US$2 billion-US$3 billion worth of new jobs, compared with US$1 billion projects clinched in 2018.
As of the first quarter of 2019, the shipping company had reportedly bid for jobs worth US$6 billion versus the similar value of bids for the whole of last year.
Meanwhile, Phillip Capital Management senior vice president (Investment) Datuk Dr Nazri Khan Adam Khan said movement of the FBM KLCI was consistent with the overall improvement of the global economy.
He said US stocks were back at a record high this week as investors excelled in the four months-long recovery despite continuous uncertainty on the outlook of the global economy.
“On the domestic front, despite the recent correction, we see that the financial market continued its resilience along with the domestic liquidity brought about by the revival of the infrastructure projects,” he told Bernama.
From the technical perspective, Nazri Khan said the improvement in the local bourse implied that a potential revival after the recent correction could provide a strong bullish-bias to follow through.
“We set the immediate support at around 1,600 points. Conversely, immediate resistances loom at around 1,658 points and 1,700 points,” he added.
Among heavyweights, Maybank fell two sen to RM9.14 but Public Bank improved four sen to RM22.64, Petronas Chemicals and CIMB each bagged eight sen to RM9.03 and CIMB was flat at RM5.25.
Tenaga increased six sen to RM12.34.
Most active counters, Bumi Armada perked seven sen to 27 sen, Ekovest added 6.5 sen to 93.5 sen, and Sapura rose half-a-sen to 33.5 sen.
Top gainers, Nestle soared RM1.60 to RM147.00, Tasek expanded 50 sen to RM6.45 and Takaful gained 24 sen to RM5.53.
The FBM Emas Index was 79.57 points firmer at 11,665.11, the FBMT100 increased 76.56 points to 11,475.52 and the FBM 70 put on 108.57 points to 14,732.77.
The FBM Emas Shariah Index was 98.32 points better at 11,877.84 and the FBM Ace Index added 37.05 points to 4,789.31.
Sector-wise, the Financial Services Index went up 65.92 points to 16,883.68, the Plantation Index jumped 73.22 points to 7,265.36 and the Industrial Products and Services Index gained 1.27 points to 171.42.
Main Market volume advanced to 3.50 million shares worth RM2.68 billion against 2.93 million shares valued at RM2.30 billion on Tuesday.
Warrants turnover expanded to 459.17 million units valued at RM81.02 million from 340.60 million units worth RM41.06 million.
Volume on the ACE Market slid to 419.85 million shares valued at RM78.06 million versus 455.00 million shares valued at RM96.08 million yesterday.
Consumer products and services accounted for 419.44 million shares traded on the Main Market, industrial products and services (377.53 million), construction (484.33 million), technology (137.98 million), SPAC (nil), financial services (66.95 million), property (208.35 million), plantation (114.90 million), REITs (6.86 million), closed/fund (4,900), energy (1.50 billion), healthcare (54.13 million), telecommunications and media (36.09 million), transportation and logistics (39.39 million) and utilities (60.00 million). — Bernama
KUALA LUMPUR, April 23 — Nestle (Malaysia) Bhd recorded a higher net profit of RM235 million for the first quarter (Q1) ended March 31, 2019, compared with RM231 million in the previous corresponding quarter, demonstrating the group’s strong…
PETALING JAYA: Nestle (Malaysia) Bhd’s net profit for the first quarter ended March 31, 2019 rose 1.7% to RM235.22 million from RM231.22 million a year ago on lower operating expenses due to phasing of marketing and promotional spends, as well as efficiency increases across the supply chain.
Its revenue jumped 1.6% to RM1.45 billion compared with RM1.43 billion in the previous year’s corresponding quarter, driven by robust domestic sales of 4.9% for the quarter, which was fuelled by strong sales momentum during the Chinese New Year festive period.
Nestlé CEO Juan Aranols (pix) said it continued to create new consumption opportunities and accelerated its product innovation drive in the first quarter. New product innovations in Q1 include Maggi Pedas Giler 2X Ayam Bakar, Milo with Whole Grain Cereal, as well as Nestum Brown Rice.
“Looking ahead, we remain focused on leveraging new opportunities for our products, delivering a steady stream of innovations and constantly driving efficiencies to accelerate our growth.
“We are encouraged by this solid start to the year. Although we still see some pressures on commodities and fluctuating consumer sentiment, we are optimistic that we will be able to sustain this momentum in the year ahead given the robust plans we have in place to deliver sustainable and profitable growth,” Aranols said in a statement.
KUALA LUMPUR, April 11 — The FTSE Bursa Malaysia KLCI (FBM KLCI) were lower at early trade today, brought down by weak heavyweights — Tenaga, PetChem, Nestle and Dialog, despite the lower liners continued strength. At 9.15am, the benchmark FTSE…
KLCI opens lower as key heavyweights weigh
KUALA LUMPUR: The FTSE Bursa Malaysia KLCI (FBM KLCI) were lower at early trade today, brought down by weak heavyweights Tenaga, PetChem, Nestle and Dialog, despite the lower liners continued strength.
At 9.15 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index declined 3.12 points to 1,63.34.
The index opened 0.13 points lower at 1,639.33.
On the broader market, gainers outnumbered decliners 186 to 114, while 234 counters remained unchanged, 1,335 untraded and 31 others suspended.
Turnover stood at 476 million shares worth RM143.9 million.
Malacca Securities Sdn Bhd said under the prevailing environment, the FBM KLCI is set for an extended indifferent trend, lingering within the 1,630 and 1,650 levels.
“There are also few market events to look forward to as several large initial public offerings are said to have been held back due to the uncertain market environment.
“Corporate exercises are also fewer due to the weak market sentiments, while valuations are already fair,“ it said today.
As for the lower liners, Malacca Securities said current low valuations will continue to draw in substantive trading actions, possibly allowing the broader market to recover further.
“However, we think that the recent gains are already overdone and consolidation is due to set in soon,“ it added.
At the same time, regional leads were also bearish with Asian benchmark indices closed mostly lower on fresh concerns over the global economic growth after the International Monetary Fund slashed global growth outlook to 3.3 per cent from 3.5 per cent.
Meanwhile, U.S stock markets rebounded after the U.S Federal Reserve stood pat on its dovish stance regarding future rate hike in the latest monetary policy meeting.
Of the heavyweights, Maxis went down 10 sen to RM5.60 while Digi dropped five sen to RM4.65 sen.
Meanwhile, Tenaga down 18 sen to RM12.40, PetChem was eight sen lower at RM8.92, Nestle dropped RM1.50 to RM145.30 and Dialog went down two sen to RM3.22.
Meanwhile, gainer heavyweights — Public Bank was four sen higher at RM22.68, Malaysia Airports added eight sen to RM6.83 and Maybank rose one sen to RM9.29.
Of the actives, Daya Materials, Dynaciate and Bio Osmo were half-a-sen higher each at 1.5 sen, 9.5 sen and 7.5 sen, respectively, while Ekovest inched up three sen to 66.5 sen.
The FBM Emas Index declined 8.85 points to 11,626.19, the FBMT 100 Index dropped 13.46 points to 11,443.68 and the FBM Ace Index inched down 13.27 points to 4,788.75.
The FBM Emas Shariah Index shed 20.61 points to 11,840.60, but the FBM 70 appreciated 16.43 points to 14,610.64.
Sector-wise, the Financial Services Index up 11.93 points to 16,872.02, while the Industrial Products and Services Index decreased 0.54 of-a-point to 169.42 and the Plantation Index was 2.27 points lower at 7,294.73.
Gold futures contracts on Bursa Malaysia Derivatives were untraded in the early session on lack of catalyst, dealers said.
At 9.35 am, April 2019, May 2019, June 2019 and July 2019 stood at RM171.30, RM171.50, RM171.40 and RM171.50 a gramme respectively.
Volume was nil, while open interest amounted to 32 contracts.
At 9.30 am, the price of physical gold increased by 82 sen to RM167.26 per gramme. — Bernama
ZURICH, April 11 — Switzerland yesterday announced plans to abolish the nation's emergency stockpile of coffee, in place for decades, after declaring the beans not vital for human survival, though opposition to the proposal is brewing. Nestle, the…
KUALA LUMPUR: Shares on Bursa Malaysia opened slightly higher this morning but turned easier thereafter on lack of buying momentum.
At 9.10 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index retreated 0.08 of a point to 1,641.73 from last Friday’s 1,641.81.
The index opened at 1.86 points higher at 1,643.67.
On the broader market, gainers outnumbered decliners 230 to 109, while 179 counters remained unchanged, 1,328 untraded and 21 others suspended.
Turnover stood at 243.8 million shares worth RM86.3 million.
Malacca Securities Sdn Bhd said profit taking activities were more prevalent last Friday to leave sentiments on the wayside, a trend that looks to persist as there are still few compelling domestic leads to allow the key index to string together a meaningful uptrend.
“Under the prevailing environment, we see the indifferent trend persisting with the key index hovering within the 1,640 and 1,650 levels for now.
“The other support and resistance levels are at the recent low of 1,638 and 1,657, respectively,” it said in a note today.
Of the heavyweights on Bursa, Nestle rose RM1 to RM146.50, KLK added 36 sen to RM25.12, BAT added 28 sen to RM36.28, while PPB went up 24 sen to RM18.74 as at 9.30 am.
Of the actives, Sapura Energy increased 1.5 sen to RM37 sen, Talam was half a sen lower to five sen, KNM went up half a sen to 17 sen.
The FBM Emas Index gained 29.85 points 11,630.72, the FBMT 100 Index erased 1.01 points to 11,454.14 and the FBM Ace Index shed 3.23 points to 4,823.30.
The FBM Emas Shariah Index gained 13.94 points to 11,807.57, the FBM 70 appreciated 62.10 points to 14,486.64.
Sector-wise, the Financial Services Index up 4.08 points to 16,892.80, the Industrial Products and Services Index inched up 0.22 of a point to 169.76 and the Plantation Index was 42.44 points higher at 7,278.99.
Gold futures contracts on Bursa Malaysia Derivatives were untraded in the early session on lack of demand, a dealer said.
At 9.44 am, March 2019, April 2019, May 2019 and June 2019 stood at RM169.50, RM169.70, RM169.60 and RM169.70 a gramme respectively.
Volume was nil, while open interest amounted to 21 contracts.
At 9.30 am, the price of physical gold was up by 91 sen to RM164.67 per gramme. — Bernama
KUALA LUMPUR, April 8 — Shares on Bursa Malaysia opened slightly higher this morning but turned easier thereafter on lack of buying momentum. At 9.10am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) index retreated 0.08 of a point to 1,641.73…