NST Online Business Times : latest

Posted: 21 Apr 2013 06:58 PM PDT

Shares in shipping firm MISC Bhd fell nearly 10 per cent on Monday after a revised US$3 billion privatization bid by state oil and gas company Petroliam Nasional Bhd (Petronas) fell through.

By the deadline on April 19, Petronas had only managed to lift its stake in MISC to 86.07 per cent, short of the required 90 per cent acceptance by shareholders the national oil firm needed to take MISC private, according to a stock exchange filing late Friday.

The shipping group earlier this month said Petronas' revised US$3 billion offer to buy out all remaining stock was not fair because it was lower than the combined valuation of its different divisions.

By 9.49am, MISC shares had slipped 9.6 per cent. The benchmark Kuala Lumpur stock index rose 0.1 per cent.-- Reuters

Ringgit opens mostly unchanged

Posted: 21 Apr 2013 06:48 PM PDT

The ringgit traded mostly unchanged against the US dollar in the earlier session today due to weaker support for the local note, dealers said.

At 9am, the ringgit was quoted at 3.0345/0365 to the greenback against Friday' s close of 3.0340/0370.

A dealer said amid quiet trading, investors remained on the sidelines ahead of the 13th General Election on May 5.

"In tandem with the weaker cash market, investors are also reducing their major positions in other riskier assets, including emerging currencies due to lack of internal and external catalysts," he added.

Regionally, the ringgit was traded higher against other major currencies.

It rose against the yen to 3.0391/0426 from 3.0591/0624 on Friday and surged against the British pound to 4.6161/6206 from 4.6602/6657 previously.

The ringgit appreciated against the euro to 3.9637/9669 from 3.9715/9763 previously, and was slightly better against the Singapore dollar at 2.4515/4545 from 2.4559/4597.-- Bernama

Kredit: www.nst.com.my

Ahad, 21 April 2013

NST Online Business Times : latest

NST Online Business Times : latest

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