JF Apex Research: "Over a medium to long term outlook, we are cautious on the FBM KLCI performance as it still treads below the 100- and 200-day moving averages at 1,650 and 1,700 points respectively."
KUALA LUMPUR: Key Asic Bhd
, whose shares had jumped in active trade last week, announced on Monday it plans to undertake a private placement of its shares.
It said the details of the private placement had yet to be finalised.
“The proposed private placement is still subject to the approval of the board,” it said.
Key Asic said it would make the necessary announcements to Bursa Malaysia Securities Bhd once the company has finalised the details.
At midday, its share price was down 0.5 sen to 28 sen.
On Oct 11, its share price surged 10.5 sen to 27 sen with 248.7 million shares done.
After market close that day, Key Asic said it was looking into a corporate exercise.
Key Asic provides application-specific integrated circuit (ASIC) design services for consumer, wireless and personal electronic applications.
The company provides data processing, data management, disk-based back-up solutions, telecommunications, office automation, network infrastructure and intelligent storage networking support.
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