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Malaysian Blue-Chip Index Mirrors Regional Gains on Lower Oil Prices

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Malaysian shares rebounded to end in green on Wednesday, after Maulidur Rasul holiday. The blue chip index mirrored positive regional performance after a decline in oil prices.

The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 12.21 points to end 0.7% higher at 1,748.54.

In corporate news, shares of Mah Sing (KLSE:MAHSING) gained about 2% on close after its subsidiary, Capitol Avenue Development, signed conditional agreements to purchase around 14.38 acres of land in Selangor, Malaysia, for 186.2 million ringgit.

MNRB (KLSE:MNRB) has submitted an application to Bank Negara Malaysia seeking the Ministry of Finance's approval for the proposed divestment of the takaful units Takaful Ikhlas Family and Takaful Ikhlas General. Shares gained over 1% on Wednesday's close.

Public Bank's (KLSE:PBBANK) attributable net profit rose year on year to 1.82 billion ringgit during the second quarter from 1.76 billion ringgit. Shares gained 1% on today's close.

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Lakala Payment Terminates Plans For Hong Kong IPO

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