NST Online Business Times : latest
NST Online Business Times : latest |
| Lynas' shares jump after Malaysian court win Posted: 18 Mar 2013 07:19 PM PDT SYDNEY: Shares in Australia's Lynas Corp jumped as much as 5.1 per cent on Tuesday after the company said a Malaysian court had dismissed a challenge by protesters against its long-delayed rare earth processing plant. The $800 million rare earth plant - the world's biggest outside China - finally began production in November after lengthy environmental and safety disputes with local residents and the Save Malaysia Stop Lynas (SMSL) protest group since construction began two years ago. Lynas said the Federal Court had dismissed an appeal by SMSL to seek a judicial review of the decision to grant it a temporary operating licence. "SMSL has now exhausted all avenues of appeal in the Malaysian Courts with respect to this challenge," Lynas said in a statement late on Monday.
Lynas shares rose to a high of A$0.615 and last traded up 4.3 per cent at A$0.61, half the level it was a year ago.-- Bernama |
| KL shares rebound in early trade Posted: 18 Mar 2013 06:59 PM PDT Share prices on Bursa Malaysia rebounded from its recent losses to open higher Tuesday on renewed buying interest, dealers said. As at 9.19am, the FTSE Bursa Malaysia KLCI (FBM KLCI) was 0.94 of a point better at 1,622.3 after opening seven points higher at 1,621.43. HwangDBS Vickers Research said local sentiment would still be clouded by prevailing weak external vibes. "Last night, key US equity indices lost between 0.4 per cent and 0.6 per cent due to knock-on effects from Cyprus' proposal to tax bank depositors to boost the government's coffers.
The research house expected the key FBM KLCI to possibly retreat towards the immediate support line of 1,615. HwangDBS noted stocks that are expected to come under the spotlight today included WCT Bhd, which has bagged a RM315 million contract to build commercial buildings in Putrajaya. It also included oil and gas plays like Alam Maritim Resources Bhd and Perdana Petroleum Bhd, amid media reports saying that Petronas was set to award as many as 34 offshore support vessel contracts valued at an estimated RM3 billion over the next few weeks. On the chart, the Finance Index chalked up 15.09 points to 15,160.16. The Plantation Index, however, shed 0.69 of a point to 7,815.02 and the Industrial Index slipped 4.68 points to 2,812.04. The FBM Emas Index earned 10.8 points to 11,104.35, the FBM Ace Index gained 10.69 points to 3,938.44, the FBMT100 was 10.32 points higher at 10,944.7 and the FBM Mid 70 Index increased 28.23 points to 12,356.75. Gainers beat losers 96 to 60, with 127 counters unchanged, 1,357 untraded and 17 others were suspended. Turnover stood at 38.444 million shares worth RM36.705 million. Actives, Pasukhas Group and Fast Track Solution inched up half-a-sen each to 16 sen and nine sen, respectively, and Tebrau Teguh added three sen to RM1.24. Heavyweights, Maybank rose two sen to RM9.06 while Petronas Chemicals and Maxis were flat at RM6.28 and RM6.50, respectively. However, Sime Darby lost four sen to RM9.12, Axiata Group was one sen lower at RM6.30 and CIMB Group eased two sen to RM7.04.-- Bernama |
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