KUALA LUMPUR (Dec 30): The main index of Bursa Malaysia reversed its earlier loss and edged higher in the mid-morning today against a backdrop of weaker regional markets.
At 10am, the FBM KLCI was up 0.92 points at 1,635.91. The index earlier slipped to a low of 1,631.77.
Gainers edged losers by 412 to 398, while 413 counters traded unchanged. Trading volume was 2.26 billion shares valued at RM828.73 million.
The gainers included Toyo Ventures Holdings Bhd, Fraser & Neave Holdings Bhd (F&N), CN Asia Corp Bhd, Greatech Technology Bhd, KPower Bhd, Allianz Malaysia Bhd, Supermax Corp Bhd, Top Glove Corp Bhd and Hong Leong Financial Group Bhd.
KUALA LUMPUR (Dec 29): Toyo Ventures Holdings Bhd has finally executed the build, operate and transfer (BOT) contract with Vietnam’s Ministry of Industry and Trade (MOIT) for the development of the US$3.23 billion Song Hau 2 Thermal Power Plant project, which was first announced in 2008.
According to its filing with the bourse today, Toyo Ventures said its wholly-owned Toyo Ink Group Bhd and Toyo Ink’s wholly-owned unit Song Hau 2 Power Co Ltd had executed the contract, which comes with a government guarantee, with the Vietnamese government. The BOT contract provides for the establishment of Song Hau 2 Power to implement the project and facility on a build, operate and transfer basis, wherein the facility will be transferred to an entity nominated by MOIT upon expiry of the concession period, Toyo Ventures said.
KUALA LUMPUR (Dec 29): Based on corporate announcements and news flow today, companies in focus tomorrow (Dec 30) may include: AirAsia Group Bhd, Kim Loong Resources Bhd, Minho (M) Bhd, Artroniq Bhd, Duopharma Biotech Bhd, MISC Bhd and Toyo Ventures Holdings Bhd.
Budget airline
AirAsia Group Bhd has decided to sell 32.67% of the 49% stake it holds in AirAsia (India) Ltd to Tata Group for US$37.66 million (approximately RM152.58 million). As part of the transaction, there will be a call option in respect of the remaining 16.33% stake, exercisable by Tata at any time after the transaction is completed. The total consideration in respect of the options granted for the remaining 16.33% stake shall be US$18.83 million (approximately RM76.29 million).