It said GAB’s net profit for the three months ended March 31, 2016 jumped 29% on-year due to higher sales and improved cost efficiency.
PIE Industrial proposed a one-for-five share split while Berjaya Auto’s management boosted its shareholding in the company via a proposed SPV.
Overnight on Wall Street, US stocks jumped almost 1% overnight as higher oil prices boosted financial and energy counters. Similarly, European markets ended higher after commodity prices climbed.
At Bursa Malaysia, the FBM KLCI extended its sideways trend after shedding 0.28 point to end at 1,715.
“Following the bullish performance in the US and Europe, the KLCI is expected to retest the stubborn resistance of 1,727,” it said.