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Bursa Malaysia ends lower on losses in key heavyweights

KUALA LUMPUR, Feb 22 — Bursa Malaysia ended lower today on losses in key heavyweights as investors turned slightly more cautious amidst ongoing trade discussions between China and the United States. At 5pm, the benchmark FTSE Bursa Malaysia KLCI…


KL shares mixed on profit taking in early session

KUALA LUMPUR: Shares on Bursa Malaysia were mixed in the early session today due to profit-taking activities, following the recent strong gains.

At 9.15 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,723.69, down 2.49 points from Wednesday’s close of 1,726.18.

The index opened 3.81 points weaker at 1,722.37.

In a note, Public Investment Bank Bhd said profit taking activities could be more rigorous while the FBM KLCI attempts to penetrate above the resistance level of 1,734.

Nevertheless, the bank still anticipated the benchmark index to trend higher for the rest of the week, ranging between 1,720 and 1,734, given that the US Federal Reserve’s minutes from its January meeting showed that officials were generally in favour of a ‘patient posture’ on interest rates.

Market breadth was still positive with gainers outpacing losers 215 to 128, while 248 counters were unchanged, 1,264 untraded and 20 others suspended.

Turnover stood at 425.96 million shares worth RM166.02 million.

Among heavyweights on Bursa Malaysia, Maybank lost one sen to RM9.51, Public Bank shed six sen to RM25, Tenaga eased two sen to RM13.36 and Petronas Chemicals decreased 19 sen to RM8.96.

Of actives, Bumi Armada two sen weaker at 20.5 sen, Sapura Energy gained half-a-sen to 33 sen and Eduspec eased half-a-sen to three sen.

The FBM Emas Index decreased 7.78 points to 12,033.00, the FBM Emas Shariah Index went down 8.16 points to 12,033.29 and the FBMT 100 fell 9.96 points to 11,887.57.

The FBM Ace Index was 10.28 points higher at 4,709.97 and the FBM 70 rose 17.85 points to 14,504.23.

Sector-wise, the Financial Services Index was up 6.28 points at 17,790.02, the Plantation Index edged down 13.52 points to 7,485.04 and the Industrial Products and Services Index was 1.11 point lower at 167.38.

Gold futures contract on Bursa Malaysia Derivatives was untraded in the early session today on subdued demand.

At 9.35 am, February 2019, March 2019, April 2019 and May 2019 stood at RM175.00, RM175.00, RM175.30 and RM174.40 a gramme, respectively.

Volume was nil while open interest amounted to 23 contracts.

At 9.30 am, the price of physical gold down 41 sen at RM169.48 a gramme. — Bernama


Bursa opens mixed on profit taking

KUALA LUMPUR, Feb 21 — Shares on Bursa Malaysia were mixed in the early session today due to profit-taking activities, following the recent strong gains. At 9.15am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,723.69,…


Public Bank proposes 37 sen dividend for Q4

PETALING JAYA: Public Bank Bhd has proposed to declare a second interim dividend of 37 sen for the fourth quarter ended Dec 31, 2018 despite its net profit declining 5.4% to RM1.41 billion against RM1.49 billion in the previous corresponding period.

Revenue for the quarter, however, grew 5.3% to RM5.63 billion from RM5.35 billion.

Together with the first interim dividend of 32 sen per share, the bank’s full-year dividend for 2018 amounts to 69 sen or a total dividend payout of RM2.7 billion, representing 47.9% of its net profit for 2018.

Public Bank’s full-year net profit rose 2.2% to RM5.59 billion from RM5.47 billion a year ago on the back of a 5.7% increase in revenue to RM22.04 billion from RM20.86 billion.

“2018 was marked by a more moderate economic growth, with increased head-winds on both global and domestic fronts and banks were faced with a more challenging business climate. Against this backdrop, the Public Bank group was able to sustain stable profitability due to its continuous efforts to drive its loans and deposits business, coupled with the group’s strong asset quality and prudent cost management,” said Public Bank founder Tan Sri Teh Hong Piow (pix).

The bank achieved 4.2% loan growth in 2018 and its lending strategy remained focused on consumer financing for the purchase of residential properties and passenger vehicles, as well as extension of credit to small and medium enterprises for purchase of commercial properties and working capital.

Its total customer deposits achieved growth of 6.2% to RM339.2 billion in 2018. The deposit growth contributed to the group’s strong funding position, as reflected in its gross loan to fund and equity ratio of 79.0% as at the end of 2018.

Public Bank continued to maintain a low gross impaired loans ratio of 0.5%, well below the domestic banking system’s gross impaired loans ratio of 1.5%.

“Further, the Public Bank group’s loan loss coverage ratio stood high at 126.0% as at the end of 2018. Including the RM1.8 billion regulatory reserves that the group had set aside, the group’s loan loss coverage ratio would be 237.5%. This has provided the group a strong buffer to weather any uncertainties ahead,” said Teh.

After the payment of the second interim dividend, the group’s common equity Tier 1 capital ratio, Tier 1 capital ratio and total capital ratio will stand at 13.1%, 13.7% and 16.3% respectively.

In 2018, Public Bank’s overseas operations contributed 9.7% to the group’s overall pre-tax profit, largely contributed by Public Financial Holdings td Group in Hong Kong and Cambodian Public Bank Plc.

Looking ahead, Public Bank expects the overall outlook for the domestic banking sector to remain stable underpinned by resilient private sector activity.

“There will be continued growth opportunities for the domestic banking industry underscored by ongoing demand for affordable housing and the growing small and medium enterprises,” said Teh.

Public Bank’s share price gained 6 sen or 0.24% to close at RM25.06 today on 4,402,500 shares done.


Public Bank’s FY18 net profit up 2.2pc to RM5.59b

KUALA LUMPUR, Feb 20 — Public Bank Bhd’s net profit rose to RM5.59 billion in the financial year ended Dec 31, 2018 (FY18), up 2.2 per cent from RM5.47 billion achieved in the previous year. Revenue increased to RM22.04 billion in…


Bursa Malaysia ends higher on stronger buying demand

KUALA LUMPUR: Bursa Malaysia ended the day higher as stronger buying demand in heavyweights helped lift the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI).

At 5pm, the index finished 19.62 points higher at 1,726.18 from 1,706.56 at close yesterday.

After opening 6.27 points firmer at 1,712.83, the local index moved between 1,711.44 and 1,727.25 throughout the day.

A dealer said market sentiment was positive with investors optimistic that the latest round of trade talks between the world’s two giant economies would lead to a deal to resolve their tariff war.

“This positive sentiment is reflected in the stronger performance of Wall Street and spilled over into Asian stocks, with the MSCI’s broadest index of Asia-Pacific shares outside Japan, up nearly one per cent to reach its highest level since Oct 2, 2018.

“On Wall Street, the S&P 500 index rose 4.16 points to 2,779.76, the Nasdaq Composite increased 14.36 points to 7,486.77 and the Dow Jones Industrial Average was 8.07 points better at 25,891.32,” he added.

Among local heavyweights, Maybank rose four sen to RM9.52, Public Bank and Tenaga gained six sen each to RM25.06 and RM13.38 respectively, while Petronas Chemicals surged 26 sen to RM9.15.

Of actives, Sapura Energy inched up 1.5 sen to 32.5 sen, Hibiscus Petroleum gained three sen to RM1.08 and Bumi Armada was one sen better at 22.5 sen.

Market breadth was positive with 724 gainers and 252 losers, while 346 counters remained unchanged, 532 untraded and 20 others suspended.

Total volume increased to 3.82 billion units valued at RM3.26 billion from 2.80 billion units valued at RM2.36 billion transacted yesterday.

The FBM Emas Index increased 170.21 points to 12,040.78, the FBMT 100 Index rose 166.37 points to 11,897.51 and the FBM Emas Shariah Index jumped 197.45 points to 12,041.45.

The FBM 70 rose 330.74 points to 14,486.38 and the FBM Ace Index increased 37.58 points to 4,699.69.

Sector-wise, the Financial Services Index added 117.28 points to 17,783.73, the Plantation Index rose 96.12 points to 7,498.56 and the Industrial Products and Services Index bagged 2.64 points to 168.49.

Main Market volume was higher at 2.78 billion shares valued at RM3.03 billion from 1.87 billion shares valued at RM2.18 billion recorded on Tuesday.

Warrants’ turnover rose to 741.67 million units worth RM162.26 million from 609.05 million units worth RM120.56 million yesterday.

Volume on the ACE Market decreased to 295.17 million shares worth RM68.74 million from 317.97 million shares worth RM55.18 million.

Consumer products and services accounted for 316.42 million shares traded on the Main Market, industrial products and services (309.21 million), construction (236.86 million), technology (161.16 million), SPAC (nil), financial services (73.74 million), property (220.06 million), plantations (63.60 million), REITs (16.38 million), closed/fund (24,800), energy (1.19 billion), healthcare (41.44 million), telecommunications and media (67.56 million), transportation and logistics (35.28 million), and utilities (51.02 million). — Bernama


Bursa closes higher on buying sentiment

KUALA LUMPUR, Feb 20 — Bursa Malaysia ended the day higher as stronger buying demand in heavyweights helped lift the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI). At 5pm, the index finished 19.62 points higher at 1,726.18…


Bursa's climb continues at mid-afternoon

KUALA LUMPUR, Feb 20 — Bursa Malaysia remained higher at mid-afternoon due to gains in heavyweights as market sentiment was lifted by higher US stock performance and optimism that China and the United States will reach a deal in their trade talks….


Broad investor support lifts Bursa at mid-day

KUALA LUMPUR, Feb 20 — Bursa Malaysia closed the morning session higher on stronger across-the-board buying demand, following Wall Street’s overnight gains. At 12.30 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 16.03 points better…


KL shares open higher tracking Wall Street’s overnight gains

KUALA LUMPUR: Shares on Bursa Malaysia opened higher today, lifted by stronger buying support in most heavyweights following Wall Street’s overnight gains.

At 9.05 am, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) stood at 1,712.34, up 5.78 points from Tuesday’s close of 1,706.56.

The index opened 6.27 points firmer at 1,712.83

In a note, Public Investment Bank Bhd said the FBM KLCI is anticipated to trend higher for the rest of the week given stronger recovery in an upward momentum, ranging between 1,720 and 1,700 marks.

“Immediate challenge would be having the index to stay above its watershed 1700-points level at the end of the week. Support levels for the index are at 1,664, 1,680 and 1,700, while the resistance levels are at 1,720, 1,734 and 1,743,” it added.

On Wall Street, the S&P 500 index and Nasdaq Composite were both up 0.2% respectively, while the Dow Jones Industrial Average ended Tuesday flat.

Among heavyweights on Bursa Malaysia, Maybank gained three sen to RM9.51, Public Bank rose two sen to RM25.02 while Tenaga and Petronas Chemicals increased six sen each to RM13.38 and RM8.96, respectively.

Of actives, Bumi Armada was half-a-sen better at 22 sen, Hibiscus Petroleum was three sen higher at RM1.08 and Securemetric increased two sen at 52.5 sen.

The FBM Emas Index increased 46.39 points to 11,916.97, the FBM Emas Shariah Index went up 60.14 points to 11,904.14 and the FBMT 100 rose 45.89 points to 11,777.03.

The FBM Ace Index was 13.54 points higher at 4,675.65 and the FBM 70 rose 80.92 points to 14,236.56.

Sector-wise, the Financial Services Index was up 33.34 points at 17,699.79, the Plantation Index edged up 37.42 points to 7,439.86 and the Industrial Products and Services Index was 0.59 of-a-point higher at 166.44.

Market breadth was positive with gainers outpacing losers 182 to 69, while 160 counters were unchanged, 1,443 untraded and 20 others suspended.

Turnover stood at 111.19 million shares worth RM63.22 million.

Gold futures contract on Bursa Malaysia Derivatives was untraded this morning on weak interest for the precious metal amid a stronger ringgit.

At 9.20 am, February 2019, March 2019, April 2019 and May 2019 stood at RM174.50, RM174.50, RM174.80 and RM174.90 a gramme, respectively.

Volume was nil while open interest amounted to 23 contracts.

At 9.30 am, the price of physical gold was RM1.40 higher at RM169.98 a gramme. — Bernama