Malaysian Shares End in Red Bucking Regional Gains; MSB Global's Shares Rally 18%

MT Newswires Live

01/06

Malaysian stocks dropped slightly on Tuesday, snapping yesterday's gains, and bucking a positive regional trend.

The FTSE Bursa Malaysia KLCI shed 7.97 points to end 0.5% lower at 1,672.35. The day range was between 1,667.82 and 1,679.26.

In corporate news, shares of MSB Global Group (KLSE:MSB) jumped about 18% in close after its unit MSB Machinery Corporation (Malaysia) signed a joint venture deal with Thai Sin Anant Rubber Factory (2516) to establish a new JV in Thailand.

Whereas, shares of Sarawak Consolidated Industries (KLSE:SCIB) slid about 3% on Tuesday's close after it signed a development deal to undertake a residential and commercial project in Sarawak, Malaysia, through its unit SCIB Development.

Shares of Infoline Tec Group (KLSE:INFOTEC) dropped over 1% on close after its unit Infoline IT Solutions secured a deal from Niaga Sari for a sub-contract worth 9.7 million ringgit on a 30-story serviced apartment project in Terengganu, Malaysia.

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