KUALA LUMPUR, Aug 20 — Bursa Malaysia closed higher today on continued buying in selected heavyweights led by Petronas Chemicals, as well as mid and small-cap stocks, in sync with most regional peers, dealers said. At 5pm, the benchmark FTSE Bursa…
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KUALA LUMPUR, Aug 17 — Bursa Malaysia ended on a positive note today following continued buying momentum in selected heavyweights led by Public Bank, and lower liners, dealers said. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM…
KUALA LUMPUR: Bursa Malaysia ended on a positive note today following continued buying momentum in selected heavyweights led by Public Bank, and lower liners, dealers said.
At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) was 6.20 points or 0.35% firmer at 1,783.47 from Thursday's close of 1,777.27.
The index opened 3.37 points higher at 1,780.64 and moved between 1,780.26 and 1,785.03 throughout the trading session.
On the broader market, gainers outpaced losers 466 to 403 with 451 counters unchanged, 561 untraded and 30 others suspended.
Volume eased to 2.0 billion units valued at RM2.03 billion from 2.10 billion units worth RM1.91 billion on Thursday.
M&A Securities Sdn Bhd Chief Dealing Officer R Sundararajah said market sentiment was boosted by news on the revival of trade talks between the US and China later this month and stronger corporate earnings by some companies in the US equity market.
“Closer to home, markets have yet to react on Bank Negara Malaysia's (BNM) announcement on the second-quarter gross domestic product (GDP) growth, which grew at 4.5% compared with 5.8% in the same period last year,” he told Bernama today.
Meanwhile, BNM had revised downwards the country's full-year GDP growth for 2018 to five per cent from the 5.5-6.0% projected earlier, due to prolonged disruptions in oil and gas production, and low production in the agriculture sector.
On the local bourse, heavyweights, Public Bank rose two sen to RM24.50 and CIMB added one sen to RM5.89.
Maybank was down one sen to RM9.78, Tenaga eased four sen to RM15.70 and Petronas Chemicals lost 10 sen to RM9.14.
Of the actives, QES perked two sen to 26.5 sen, Inari gave up 12 sen to RM2.28 while Euro bagged 2.5 sen to 23.5 sen.
Among top gainers, BAT increased 56 sen o RM35.90, IQ Group advanced 43 sen to RM1.88 and MPI was 34 sen higher at RM12.14.
The FBM Emas Index improved 40.84 points to 12,619.57, the FBMT100 Index climbed 41.38 points to 12,389.40 and the FBM 70 put on 44.98 points to 15,383.45.
The FBM Emas Shariah Index gained 46.19 points to 12,781.04 and the FBM Ace was 29.36 points higher at 5,552.40.
Sector-wise, the Finance Index shed 0.42 of-a-point to 17,388.79 but the Plantation Index was up 55.55 points to 7,627.19 and the Industrial Index rose 8.65 points to 3,232.90.
Main Market volume slipped to 1.25 billion shares worth RM1.84 billion, from 1.39 billion shares valued at RM1.72 billion on Thursday.
Warrants turnover declined to 329.55 million units valued at RM80.25 million, against 372.13 million units valued at RM105.98 million recorded yesterday.
Volume on the ACE Market increased to 412.33 million shares valued at RM106.64 million, versus Thursday's 339.35 million shares valued at RM80.82 million.
Consumer products accounted for 125.38 million shares traded on the Main Market, industrial products (271.68 million), construction (111.78 million), trade and services (412.80 million), technology (151.27 million), infrastructure (13.94 million), SPAC (3.07 million), finance (44.38 million), hotels (292,300), properties (98.76 million), plantations (21.04 million), mining (10,600), REITs (2.44 million), and closed/fund (5,000). — Bernama
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PETALING JAYA: YTL Hospitality REIT (YTL REIT) is acquiring The Green Leaf Niseko Village for ¥6 billion cash (RM222.5 million) from Niseko Village KK (Niseko Village), an indirect wholly owned subsidiary of YTL Corp Bhd.
In a filing with Bursa Malaysia today, YTL REIT said its wholly owned subsidiary Starhill REIT Niseko GK (Starhill Niseko) has entered into a conditional sale and purchase agreement with Niseko Village.
YTL REIT said the acquisition is in line with its investment objective to continuously pursue the strategy to acquire and invest in high quality hospitality properties, with a view to provide long-term and sustainable income distribution to unitholders and achieve long-term growth in the net asset value per unit.
Upon completion of the acquisition, Starhill Niseko will lease the property to Niseko Village for 30 years with an option to renew for a further 30 years, at an annual rental rate of ¥315 million for the first five years with 5% rental increase every subsequent five years.
The lease arrangement will provide YTL REIT with a steady and secure income stream and is expected to contribute positively to the trust's future distributable income and distribution per unit.
The property comprises freehold land in Aza-Higashiyama, Niseko-cho, Abuta-gun in Hokkaido, Japan, measuring 2.65 acres on which the five-storey hotel is built. The
35-year-old hotel was substantially renovated, refurbished and reopened in December 2010.
Niseko-cho is a famous resort area that attracts international skiers. Last year, the 200-room hotel achieved an occupancy rate of 53.8%.
The property has a market value of ¥6 billion as at April 30, 2018 as ascribed by Savills Japan Co Ltd. Starhill Niseko expects to finance the purchase consideration and expenses related to the proposals with borrowings and/or internally generated funds.
As the proposed acquisition will be partly financed with borrowings, YTL REIT's gearing ratio is expected to increase from 37.5% to up to 40.2% based on the audited consolidated total assets value and borrowings of YTL REIT Group as at June 30.
The proposals, which will be completed by year-end, are not expected to have any material effect on YTL REIT's distribution policy of at least 90% of the distributable income for each financial year.
For the financial year ended June 30, 2018, YTL REIT declared an income distribution of 7.8683 sen per unit, representing 100% of the income available for distribution.
AmInvestment Bank Bhd has been appointed as the principal adviser for the proposals.
KUALA LUMPUR, Aug 14 — Bursa Malaysia rebounded to close marginally higher today, lifted by buying in selected blue chips, after experiencing heavy selling pressure yesterday. At 5pm, the benchmark FTSE Bursa Malaysia KLCI (FBM…