YKGI Holdings Bhd has entered into mutual confidential agreements with CSC Steel Holdings Bhd and NS BlueScope Malaysia Sdn Bhd to dispose of certain assets, confirming a recent report by The Edge Malaysia weekly.In a bourse filing today, the company said NS BlueScope is conducting a due diligence on the proposed transaction, adding that it has not received any offer from the parties yet.
The FBM KLCI closed 1.55 points or 0.1% higher as share trade volume across Bursa Malaysia fell below two billion. The KLCI erased losses to finish at 1,847.94 on bargain hunting and as Asian share markets ended mixed. Japan’s Nikkei 225 dropped 0.9%, South Korea’s Kospi fell 0.76% while Hong Kong’s Hang Seng erased losses to close 0.04% higher. In Malaysia today, Inter-Pacific Securities Sdn Bhd research head Pong Teng Siew told theedgemarkets.com: “Market up because of the Friday close of the US Dow Jones Industrial Average, and the backdrop was generally okay for the global markets.”Today, the KLCI closed higher after falling to its intraday low at 1,845.45. Pong said investors had bargain hunted for KLCI-linked telecommunication, banking and plantation stocks.Across Bursa Malaysia, 1.94 billion shares worth RM1.68 billion were traded. On Friday, the bourse saw 2.88 billion shares worth RM4.26 billion transacted.
Malaysian palm oil futures edged up in early trade on Monday supported by weakness in the ringgit, its currency of trade, and as traders were bullish about prospects of improving demand.The benchmark palm oil contract for June delivery on the Bursa Malaysia Derivatives Exchange rose 0.4% to 2,425 ringgit (US$620.05) a tonne at the midday break, after falling to a one-week low of 2,407 ringgit earlier in the session. Trading volumes stood at 22,858 lots of 25 tonnes each at noon on Monday.