Malaysian Shares Edge Up Tracking Regional Rally; ES Sunlogy's Shares Jump 8%
Malaysian shares closed slightly higher Monday, tracking upbeat regional performance. The FTSE Bursa Malaysia KLCI rose 0.1% or 1.38 points to close at 1,666.94.The U.S. and Chinese officials held high‑level trade talks in New York Sunday ahead of a planned summit between Donald Trump and Xi Jinping, focusing on tariff cuts, rare‑earth supplies and a bilateral AI safety dialogue.In corporate news, Evocom's (KLSE:EVOCOM) initial public offering drew an overall oversubscription rate of 3.60x. The logistics and workforce services company received 6,326 applications for 104.7 million shares from the Malaysian public. The IPO comprises 113.9 million new shares and an offer for sale of 22 million existing shares at 0.18 ringgit per share.Elsewhere, shares of ES Sunlogy (KLSE:SUNLOGY) jumped 8% on close after its unit Savelite Engineering accepted a letter of appointment for a 15.6 million ringgit subcontract.Kelington Group (KLSE:KGB) slid about 2% on close after it signed a memorandum of understanding with India's Tata Electronics to support the deployment of critical infrastructure and systems for the latter's semiconductor fab in Dholera, Gujarat, India.
