Malaysia News Highlights-9th Sept 15

• Malaysian share prices rose 0.81% today to cross the 1,600-point level, lifted by selected blue chips in line with the advance at most global markets.
  The FTSE Bursa Malaysia Kuala Lumpur Composite rose 13.04 points to 1,600.16.There were 298 gainers, 94 losers and 182 counters unchanged.
   
• Malaysia needs to resolve its domestic issues in order to boost investor confidence and this would help stem the decline in the ringgit.
   
• Tenaga Nasional Bhd is one of four suitors shortlisted for the final round of bidding in state fund 1MBD's sale of its power unit Edra Global Energy Bhd.
   
• RHB Capital Bhd is expected to see a higher dilution impact on its earnings per share (EPS) and return on equity (ROE) after it fixed a lower rights issue price at RM4.82 on Monday.
   
• Moody's Investors Service said the depreciation in Malaysia's ringgit is manageable for the sovereign, banks and rated corporates, although it indicates a weakening environment.
   
• Telekom Malaysia Bhd (TM) has entered into a five-year service agreement with Bank Simpanan Nasional (BSN) for a new converged network transformation project.
   
• OSK Holdings Bhd, which is planning to form a mega property company, has failed to take over PJ Development Holdings Bhd (PJD) at the close of the offer yesterday.
   
• George Kent, the group has secured a contract for the supply and delivery of 600,000 units of water meters to Hong Kong’s Water Supplies Department (WSD) worth RM31.19mil, the largest single order for water meters it has ever obtained thus far.
   
• Water concessionaires and pipe makers such as Kumpulan Perangsang Selangor, Puncak Niaga, Engtex, JAKS Resources, YLI could see trading interest as the long-drawn saga over the water restructuring deal between the Selangor and Federal governments had concluded after the final four agreements were signed by both parties.