Malaysian Shares Rebound Mirroring Regional Gains; Vetece's Shares Rise 4%

MT Newswires Live

Jan 05

Malaysian stocks rose slightly on Monday, snapping a two-day losing streak, and in line with regional gains.

The FTSE Bursa Malaysia KLCI gained 10.56 points to end 0.6% higher at 1,680.32. The day range was between 1,669.08 and 1,681.94.

In corporate news, shares of Vetece (KLSE:VTC) gained over 4% on Monday's close after its unit Vision Technology Consulting signed a contract with a leading Malaysian utility company to provide an international Human Capital Management (HCM) Cloud software subscription valued at about 12.6 million ringgit.

Whereas, shares of Glomac (KLSE:GLOMAC) slid over 1% on close after its unit Glomac Al Batha agreed to sell two leasehold plots in Puchong, Malaysia, for 97.3 million to Sunway Kiara.

Meanwhile, Guan Huat Seng (KLSE:GHS) is seeking to raise about 30 million ringgit from its initial public offering on the ACE Market of Bursa Malaysia. The IPO entails a public issue of 120 million shares at a tentative price of 0.25 ringgit each, as well as an offer for sale of 21 million shares.

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