In a filing with Bursa Malaysia yesterday, Sime Darby said SDE had on Feb 5 received a notice from the Dubai International Arbitration Centre (DIAC) that EMAS had submitted a request for arbitration against SDE which was filed on Jan 24, 2016. The amount that EMAS is seeking from the arbitration proceedings is AED41.04mil (about RM46.37mil).
KUALA LUMPUR: Foreign funds were net buyers on Bursa Malaysia in the week ended March 31, 2017 at RM1.14bil while local institutions were net sellers at RM1.09Bil, according to MIDF Research.
It said on Monday Malaysia can claim to be the most favoured Asean emerging market in 2017 among global investors, based on foreign liquidity flow on Bursa, which remained elevated for the third week running.
“Foreign investors have now been net buyers on Bursa for eight consecutive weeks. As of Friday, foreign net buying had extended for 15 trading days, the longest since March 2016.
“For the month of March, cumulative foreign net purchases amounted to RM4.7bil. That was quadruple the cumulative inflow in February 2017 which amounted to RM956mil,” it said.
MIDF Research said local institutions offloaded RM1.09b net last week and have disposed RM4.95bil net year-to-date.
Sime Darby registered the highest net money inflow of RM29.07mil last week. Its share price fell -1.28%, underperforming against the FBM KLCI which declined by -0.32% during the week under review.
MIDF Research said the company signed a Memorandum of Understanding (MoU) for a joint venture with France’s Engie Services aimed at providing technical and facility management services in area of energy efficiency of critical buildings such as airports and hospitals
Tenaga Nasional recorded the second highest net money inflow of RM20.51mil. Its share price however lagged as it ended unchanged against the KLCI which fell -0.32%.
It said Gamuda saw the third highest net money inflow of RM19.55mil. Its share price underperformed against the KLCI with a -2.08% loss during the review week. It said the net inflow amidst declining share price indicates a buy on weakness stance among some investors.
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