KUALA LUMPUR: Time dotCom and Time Engineering were in focus in the morning session on Tuesday, 16 as investors showed their displeasure with Time dotCom's proposed corporate exercise.
Trading of the two counters totalled 95.48 million shares out of the'' 557.15 million units transacted on Bursa Malaysia.
As at midday, the FBM KLCI was up 2.45 points to 1,504.01. Turnover was 557.15 million shares valuyed at RM611.32 million. Losers led gainers 390 to 256 while 291 stocks were unchanged.
Among key regional markets, Japan's Nikkei 225 rose 0.3% to 9,857.47 but Hong Kong's Hang Seng Index fell 0.03% to 24,020.29, Shanghai's Composite Index lost 0.68% to 2,93.83 and Singapore's Straits Times Index shed 0.02% to 3,236.04.
At Bursa Malaysia, Time dotCom fell 11 sen to 66 sen, which was a month's low, with 70.28 million shares done while Time lost 7.5 sen to 44.5 sen.
Time dotCom is undertaking a RM339 million acquisition exercise of several companies in the telecommunication services and infrastructure industry in a bid to transform itself into a regional player. It is undertaking a share capital reduction, capital repayment and the acquisition of four companies as it seeks to expand into the regional telecommunications industry.
The exercise involves a share capital reduction of its paid-up of RM2.53 billion, comprising of 2.53 billion shares of RM1 each by cancelling 90 sen of the par value, followed by a share consolidation of the 2.53 billion 10 sen shares into 506.15 million shares, on the basis of five shares of 10 sen each to one share of 50 sen each in Time dotCom.
However, the 30-stock FBM KLCI was supported by gains in Sime Darby, CIMB and Tenaga.'' Sime rose seven sen to RM8.85, CIMB five sen to RM8.36 and Tenaga six sen to RM8.58.
KL Kepong advanced eight sen to RM19.92, Public Bank four sen to RM12.80 and Genting two sen to RM10.48.
Amway was among the major gainers. It surged to multi-year highs, up 25 sen to RM8.49 after it posted a stronger set of earnings and also declared 39 sen in dividends.
Trading of the two counters totalled 95.48 million shares out of the'' 557.15 million units transacted on Bursa Malaysia.
As at midday, the FBM KLCI was up 2.45 points to 1,504.01. Turnover was 557.15 million shares valuyed at RM611.32 million. Losers led gainers 390 to 256 while 291 stocks were unchanged.
Among key regional markets, Japan's Nikkei 225 rose 0.3% to 9,857.47 but Hong Kong's Hang Seng Index fell 0.03% to 24,020.29, Shanghai's Composite Index lost 0.68% to 2,93.83 and Singapore's Straits Times Index shed 0.02% to 3,236.04.
At Bursa Malaysia, Time dotCom fell 11 sen to 66 sen, which was a month's low, with 70.28 million shares done while Time lost 7.5 sen to 44.5 sen.
Time dotCom is undertaking a RM339 million acquisition exercise of several companies in the telecommunication services and infrastructure industry in a bid to transform itself into a regional player. It is undertaking a share capital reduction, capital repayment and the acquisition of four companies as it seeks to expand into the regional telecommunications industry.
The exercise involves a share capital reduction of its paid-up of RM2.53 billion, comprising of 2.53 billion shares of RM1 each by cancelling 90 sen of the par value, followed by a share consolidation of the 2.53 billion 10 sen shares into 506.15 million shares, on the basis of five shares of 10 sen each to one share of 50 sen each in Time dotCom.
However, the 30-stock FBM KLCI was supported by gains in Sime Darby, CIMB and Tenaga.'' Sime rose seven sen to RM8.85, CIMB five sen to RM8.36 and Tenaga six sen to RM8.58.
KL Kepong advanced eight sen to RM19.92, Public Bank four sen to RM12.80 and Genting two sen to RM10.48.
Amway was among the major gainers. It surged to multi-year highs, up 25 sen to RM8.49 after it posted a stronger set of earnings and also declared 39 sen in dividends.
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