Positive momentum. The FBM KLCI rose for the fourth consecutive day to close
11.68 points higher at 1,202.07 on the back of buying interest on key heavyweights
such as Sime, IOICorp and CIMB. Today’s headlines are YTL finalising its SG$1bn
financing for the acquisition of Power Seraya in Singapore, Maybank appoints Tan
Sri Megat Zaharuddin as new chairman, MAS has promoted Mohd Azahar Abdul Jalil
to Chief Financial Officer, Bumiputra-Commerce Holdings Bhd has officially changed
its name to CIMB Group Holdings Bhd, Can One has received SC approval for its
proposed acquisition of a 32.6% stake in Kian Joo and Green Packet has indicated
interest in a foreign WIMAX licence by end of the year. Overnight, Wall Street rose
slightly, fuelled by energy and commodity stocks, as the weakening of the US$
coupled with continuing economic recovery drove commodity prices higher. Crude oil
price jumped $3.08 to $71.10/barrel.
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