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KUALA LUMPUR: The FBM KLCI finished higher on Thursday amid positive newsflow in line with the performance of its regional peers.
The benchmark index added 4.56 points, or 0.32% to 1,444.67. The index hit an intraday high of 1,446.75 and a low of 1,441.52.
There were 500 gainers, 421 losers and 416 counters traded unchanged on the Bursa Malaysia. Turnover stood at 3.51 billion shares valued at RM1.9bil.
Earlier, Sime Darby Bhd
announced that it entered into a conditional share purchase agreement to acquire Permodalan Nasional Bhd’s (PNB) entire 61.2% stake in UMW Holdings Bhd for RM3.57bil cash or RM5 per share.
Once the agreement becomes unconditional, the group said it will undertake a general offer for the remaining 38.8% stake it does not hold with the aim of delisting UMW from Bursa Malaysia.
Meanwhile, Kuala Lumpur Kepong Bhd (KLK) has proposed to acquire 739.2 million shares in Boustead Plantations Bhd, representing 33% and one share of the total issued shares of the plantations firm from Boustead Holdings Bhd (BHB) for RM1.15bil (RM1.55 per share), which values the company at RM3.47bil.
BHB currently has a 57.42% stake in Boustead Plantations while Lembaga Tabung Angkatan Tentera (LTAT) holds a 10.59% stake in the company. BHB and LTAT will be left with an equity interest of about 35% in Boustead Plantations following the proposed acquisition.
MBM Resources was the top gainer on Bursa Malaysia, rising 36 sen or 9.76% to RM4.05.
Aurelius Technologies rose 23 sen to RM2.74, PPB added 18 sen to RM15.94 and JcbNext gained 11 sen to RM1.57.
Among the losers, Allianz slid 28 sen to RM16.14, Heineken fell 24 sen to RM25.48, Hong Leong Financial Group lost 22 sen to RM18.14 and Nestle declined 20 sen to RM130.70.
Elsewhere in the region, MSCI’s Asia ex-Japan stock index was lower by 1.39%.
Japan’s Nikkei 225 rose 0.87% to 32,287.21 while South Korea’s Kospi closed up 1.28% at 2,537.68.
Hong Kong’s Hang Seng index was up 2.05%, at 18,212.17.
China’s CSI300 index closed up 0.72% to 3,723.43 while the Shanghai Composite index was little-changed at 3,082.24.
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