KL Composite Index close down -13.35 points or 1.11% to 1,190.54. The market is very weak with no new development to enhance the market movement couple with overnight falls in US markets – Dow Jones Industrial Average -358.41 on Thursday.
On Friday Dow Jones market closed down another -106.91 to 11,346.51 points, the market will face a new challenge with the Crude Oil prices for August delivery reaching new high of USD 142.60 per barrel before closing at USD 140.21 per barrel. This is very bad especially to the economics of a country with most of the country in the region recorded high inflation rate.
Luxchem Corp was listed on Friday 27.06.08 with an issue price of RM 1.10 per share. Luxchem Corp prices open at RM 1.00 before closed at its lowest of RM 0.78 per share. A lost of RM-0.32 per share for newly applied shares. What a disappointed listing…….that is how our Malaysian market fares.
Luxchem Issue and Paid-Up Capital : RM 65,000,000.00
Class of Shares : Ordinary Shares of RM 0.50 each.
New development in the markets. One of the political party in Malaysia - MCA has called the government to take over NKVE highway (PLUS) in order to reduce the burden of the consumers after the government recently hiked the fuel prices of petrol from RM 1.92 per litre to RM 2.70 per litre and diesel prices from RM 1.58 per litre to RM 2.58 per litre.
New development in the markets. One of the political party in Malaysia - MCA has called the government to take over NKVE highway (PLUS) in order to reduce the burden of the consumers after the government recently hiked the fuel prices of petrol from RM 1.92 per litre to RM 2.70 per litre and diesel prices from RM 1.58 per litre to RM 2.58 per litre.
An interesting statement. This would be a big bonuses to the rakyat of Malaysia if this aquisition do take place. What would happen to the PLUS shares ? Would the government consider this as an option to win the rakyat (people) hearts ?
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