FINWIRES · TerminalLIVE
FINWIRES

Malaysian Shares Extend Gains Ahead of Interest Rate Decision; Feytech's Shares Rise 6%

By

Malaysian shares ended in green on Tuesday, ahead of the interest rate decision later this week. The investor sentiment remained upbeat following the release of positive manufacturing data.

Malaysia's manufacturing sector expanded at its fastest pace in four years in April, supported by stronger output and a return to growth in new orders, according to data released by S&P Global.

The FTSE Bursa Malaysia KLCI gained 7.66 points to end 0.4% higher at 1,747.43. The day range was between 1,732.64 and 1,747.82.

In local news, Malaysia's Health Ministry has formed a Special Task Force on Drug and Medical Device Safety to act as a central command unit to reinforce the country's supply resilience amid intensifying global supply disruptions, The Star reported. Health Minister Dr. Dzulkefly Ahmad said the system includes real-time monitoring and broader diversification of pharmaceutical procurement sources.

In corporate news, Manforce Group (KLSE:MFGROUP) is scheduled to make its debut on Bursa Malaysia's ACE Market on Wednesday. The workforce solutions provider's enlarged issued share capital stands at 399.98 million units, with a total capital base of 51.7 million ringgit.

Shares of Feytech (KLSE:FEYTECH) jumped over 6% on Tuesday's close after its unit Gosford Leather Industries bagged a deal to supply seat covers for Perusahaan Otomobil Nasional (Proton) for an upcoming model

Meanwhile, shares of Exsim Hospitality (KLSE:EXSIMHB) gained 3% on close after its subsidiary EXSIM Concepto accepted a letter of award from Epic Team Construction worth 2.08 million ringgit.

Related Articles

Asia

Smartgroup Welcomes Australian Government Decision to Maintain Electric Car Discount for a Year, Shares Reach Two-Year Peak

Smartgroup (ASX:SIQ) welcomes a decision by the Australian government to maintain the electric car discount for another year, according to a Tuesday statement.It noted that the policy provides certainty for the charging industry, supporting further investment in Australia's charging infrastructure and helping build the network needed for broader electric vehicle adoption.Its shares jumped 7% in recent trading, reaching a two-year peak.

ASX:SIQ
Asia

Market Chatter: Qantas CEO Becoming 'More Optimistic' on Fuel Supply

Qantas Airways (ASX:QAN) Chief Executive Vanessa Hudson said the company is becoming "more optimistic" on fuel supply, Bloomberg News reported Tuesday.Speaking at the Macquarie Australia Conference, Hudson said the company has fuel commitments up to the middle of June, per the report.Hudson noted that the airline registered strong demand for domestic and international air travel despite high fuel prices.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

ASX:QAN
Asia

Sigma Healthcare Says Chemist Warehouse Brand to Enter UK Under Agreement With Pharmacy Group; Shares Rise 4%

Sigma Healthcare (ASX:SIG) said Tuesday signed a memorandum of understanding with Greenlight Healthcare, under which the Chemist Warehouse brand will enter the UK market.The company said in a statement that it will acquire a 75% interest in a number of stores of the employee-owned pharmacy group, with 25% continuing to be held by GreenLight.Sigma will license the Chemist Warehouse brand and intellectual property, and provide retail support, while GreenLight will provide the dispensary and professional services requirements as well as back office support.The first phase of the joint venture will focus on rebranding and developing up to five stores initially, with the first site to be in Hoxton Street, northeast of the city of London. If the first phase proves to be successful, more stores could be developed in the second phase. The parties plan to identify existing GreenLight pharmacies and where appropriate develop or relocate these into Chemist Warehouse stores.Sigma Healthcare's shares rose nearly 4% in recent trading on Tuesday.

ASX:SIG