Malaysian Shares End in Green Bucking Regional Losses; Leform's Shares Drop 3%
Malaysian shares ended in green on Thursday, bucking a downbeat regional trend. The investor sentiment rebounded following the extended ceasefire between US and Iran.The FTSE Bursa Malaysia KLCI gained 11.31 points to end 0.7% higher at 1,721.70. The day range was between 1,714.41 and 1,723.51.In local news, Malaysia does not own the 200 million liters of diesel bound for Australia, government-owned Bernama reported, citing Communications Minister Fahmi Fadzi. Fadzi said the diesel belongs to an international company that uses Malaysia as a storage hub, and is not Malaysian-produced diesel.In corporate news, Glass Lewis issued a controversy alert for PPB Group (KLSE:PPB) ahead of its May 14 AGM, citing governance and ESG concerns tied to Wilmar International. The alert follows a 4.17 billion ringgit impairment on PPB's Wilmar investment, which led to a group-level net loss. The write-down reflects regulatory, legal and compliance risks in Indonesia and weaker conditions in China, raising concerns over Wilmar's future earnings contribution.Shares of Leform (KLSE:LEFORM) dropped about 3% on Thursday's close after it signed a memorandum of understanding with Nippon Steel Trading and NST Trading Malaysia, to establish a long-term collaboration framework.