Malaysian Shares End in Red Ahead of Busy Earnings Period; Ann Joo Resources Gains 4%

MT Newswires Live10-29 17:56

Malaysian shares snapped a two-day winning streak to end in the red on Thursday, as investors paused ahead of a busy earnings period.

The benchmark FBM KLCI ran out of steam, shedding 0.2% or 2.71 points to end lower at 1,611.16.

On the corporate front, Big Caring Group launched its initial public offering on Thursday, at a valuation of ​about 8 billion ringgit, as it offers up to 1.9 billion shares at a maximum price of 1.08 ringgit each.

The Malaysian pharmacy chain plans to make its listing debut on Bursa Malaysia on Nov. 19.

Shares of Ann Joo Resources (KLSE:ANNJOO) gained over 4% at Thursday's close after its subsidiary, IAC Infrastructure, signed a subcontract agreement for a large-scale solar photovoltaic plant of about 100MWac.

EcoFirst Consolidated (KLSE:ECOFIRS) plans to raise up to 70 million ringgit by issuing redeemable convertible preference shares (RCPS). Shares gained about 2% on today's close.

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