Top Glove second largest listed company on Bursa Malaysia


  • Business
  • Tuesday, 13 Oct 2020

KUALA LUMPUR: Top Glove has once again overtaken Public Bank as the second most valuable company on Bursa Malaysia following the re-implementation of the Conditional Movement Control Order (CMCO) in Sabah, Selangor, Kuala Lumpur and Putrajaya.

At 11.05 am, the world’s largest rubber glove manufacturer saw its share price rising seven sen to RM9.04, which brought its market capitalisation (market cap) to RM74.03 billion, thus becoming the second largest listed company on the local bourse.

Meanwhile, Public Bank slid six sen to RM15.76, with market cap of RM61.10 billion.

Prior to this, Top Glove had temporarily displaced Public Bank as the second largest listed company on Bursa Malaysia in July and August this year but the position was soon recaptured by Public Bank.

Maybank remains the biggest listed company with market cap of RM81.95 billion, although its share price slid six sen to RM7.29 at mid-morning.

In a note today, Malacca Securities Sdn Bhd said with the rising number of COVID-19 cases (both local and international), demand for healthcare counters would remain firm while the search for vaccine remains clouded by uncertainties.

The Healthcare Index added 11.42 points to 4,065.32.

At 11.05 am, benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) trimmed 3.43 points, or 0.23 per cent to 1,515.0 from Monday’s close of 1,518.43.

The market barometer opened 4.25 points easier at 1,514.18.

Overall, market breadth was negative with losers leading gainers 438 to 335, while 403 counters were unchanged, 949 untraded and 19 others suspended.

Total volume stood at 2.32 billion units worth RM1.35 billion.

The 30 FBM KLCI constituents continued to endure selling pressure as investors stayed on the sidelines due to the latest political development in the country.

Digital lost seven sen to RM4.06, MISC retreated nine sen to RM6.90, IOI Corp was five sen easier at RM4.35 while Petronas Chemicals and Maxis fell three sen each to RM5.96 and RM5.00, respectively.

Most actives counters included Advance Synergy which added two sen to 22.5 sen, Ho Wah Genting accumulated 8.5 sen to 74.5 sen, V Solar eased five sen to 3.5 sen while AT Systematization and MTouche Technology were unchanged at seven sen and 5.5 sen, respectively.

Top losers were led by Allianz which retreated 12 sen to RM13.72, Tasco gave up 11 sen to RM1.83, Malaysia Airports slipped 10 sen to RM4.24, MISC was nine sen weaker at RM6.90 and Muda Holdings was eight sen lower at RM1.67.

On the index board, the FBM Emas Index contracted 16.23 points to 10,952.28, the FBMT 100 Index shrank 14.77 points to 10,772.11, while the FBM Emas Shariah Index increased 2.91 points to 13,109.21.

The FBM 70 strengthened 17.48 points to 14,429.78 and the FBM ACE jumped 49.42 points to 10,629.38.

Financial Services Index dwindled 59.04 points to 12,485.94, the Plantation Index weakened 41.34 points to 6,960.84 while the Industrial Products and Services Index eased 0.46 of-a-point to 141.86. - Bernama
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