Bulls and bears in tug-of-war. The FBM KLCI made early gains yesterday, rising as high as 1517.15 points but profit-taking set in and wiped out a big part of the gain and ending with only a 2-point gain at 1509.79 points. Regional bourses were mostly higher, advancing between 0.1% and 0.9%. today’s corporate news include BIMB Holdings announcing its FY2011 KPIs being revenue growth of 21.6% and ROE of 14.8%, Kencana Petroleum made RM52.4m in its 1QFY11, Olympia Industries expressed interest in acquiring all the equity shares in Pan Malaysian Pools from Tanjong but no formal offer has been made yet, Johor Corp’s newly appointed CEO said it will refinance its debts rather than sell any asset to pay them off, KFC Holdings acquires Mumbaibased restaurant operator Kernel Foods Pte Ltd. Meanwhile, the US market was slightly higher last night, which may not be enough to get Malaysian stocks out of their rangebound mode today.
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