Malaysian Benchmark:
The FBM KLCI opened lower today in line with the wobbly regional markets.
At 9am, the FBM KLCI fell 4.63 points to 1,663.17.
Counter-Specific News:
- Shares of Puncak Niaga Holdings Bhd rose in early trade today after Puncak's wholly owned subsidiary Puncak Niaga Construction Sdn Bhd secured the tender for the maintenance of a water treatment plant in Beaufort, Sabah.
- Celcom and Maxis may have to possibly pay RM1.7bil each for their spectrums under the Malaysian Communications and Multimedia Commission’s (MCMC) reallocation, says CIMB Equities Research.
- Asia’s online grocery business is set for double-digit growth worth S$19 billion (RM55.3 billion) by 2020 as supermarkets and hypermarkets in the region integrate online delivery service into their business model to provide convenience to tech-savvy, time-crunched consumers.
- Shell Overseas Holdings Ltd, a wholly-owned unit of Royal Dutch Shell plc, has agreed to sell its 51% stake in Shell Refining Co (Federation of Malaya) Bhd to Malaysia Hengyuan International Ltd (MHIL) - the local unit of a private Chinese refiner - for US$66.3 million.
- Hai-O hopes to shed its “conservative” image and will soon embark on several plans that include exploring new projects and strengthening its multilevel marketing business in the Asean region.
- Poultry firm CAB Cakaran Corp Bhd is eyeing to hit RM1 billion in revenue for the current financial year ending Sept 30, 2016, after missing the target in FY15.
- Indonesian mobile operator PT XL Axiata Tbk, controlled by Malaysia's Axiata Group Bhd, is planning to conduct a rights issue to repay its US$500 million (RM2.08 billion) shareholder's loan.
