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The first part yesterday of the roundtable discussions dwelt on the KLSE#8217;s lacklustre performance for 2002, and the factors contributing to its weakness. The concluding part talks about the market#8217;s probable outlook for this year, given the looming prospect of war in Iraq.
THE last trading day of 2002 saw the KLSE Composite Index (CI) closing not with a bang, but with a whimper. The much anticipated last minute window-dressing activities failed to make an impact. Instead heavyweight Maybank #150; a key component stock of the CI #150; lost 45 sen, dragging the market down.
SOME of the 24 specified Practice Note 4 (PN4) companies that could be on the way to delisting on the KLSE have made last minute attempts to avoid that fate by either coming out with fresh new corporate proposals or just submitting their schemes to the Securities Commission (SC) on the eve of the new year.
FINANCIALLY troubled MBf Capital Bhd has received approval from the Securities Commission (SC) for its proposed restructuring scheme that includes a 40-to-1 share capital reduction, asset acquisition and a reverse takeover by Perfect Utilisation Sdn Bhd (PUSB).
THE KLSE got off to a rocky start in the first trading day of the year as window-dressing activities that had lent support to the market in recent weeks apparently disappeared. The Composite Index (CI ) skidded nearly 14 points or 2.15% to 632.4 yesterday, as investors sold down their holdings, on heightened fears of war between the US and Iraq.
PLASTIC injection moulded components maker SKP Resources Bhd expects to become a one-stop service centre by the year 2005.
PERBADANAN Komputer Nasional Bhd (Nascom) expects to complete the takeover of 11 listed companies currently under PN4 status by March. The takeover will result in the companies being relisted on the KLSE.