FBM KLCI ETF declares income distribution of 2.8 sen per unit

?The proposed project, if materialised, could provide Tan Chong Motor with opportunity to expand its foothold in the automotive industry in Vietnam,? the company said in a filing with Bursa Malaysia last Friday

KUALA LUMPUR: Malaysia’s first equity exchange-traded fund (etf) , FTSE Bursa Malaysia KLCI ETF (FBM KLCI etf), has declared an interim income distribution of 2.8 sen per unit for the financial year ended Dec 31, 2017, said AmInvest today.  

In a statement today, its acting CEO, Goh Wee Peng, said the Malaysian market, which has been a laggard among its regional peers, was up by 9.5% in 2017 and it would stand a good chance to catch up this year.

“Hence, we have upgraded the local market outlook to ‘positive’ as we foresee a surge of domestic and foreign demand, oil price recovery as well as expectations for the ringgit to remain firm,” she said.

Goh said the view has led the investment bank to favour sectors such as financials, oil and gas, consumer staples and export that would likely benefit from the robust external growth and the impending general election this year.

The FBM KLCI etf is designed to follow the performance of the FBM KLCI, which represents Malaysia’s top 30 largest companies in terms of market capitalisation.

Investors can buy into FBM KLCI etf which is listed on Bursa Malaysia with a minimum trading size of 100 units. - Bernama