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Sunway falls on debut after property merger Posted: 22 Aug 2011 06:13 PM PDT Sunway Bhd fell on its debut on the Kuala Lumpur stock exchange after acquiring and merging two property and construction companies. The stock slid to RM2.64 at 9:05 a.m. local time, lower than the reference price of RM2.80. Sunway bought Sunway Holdings Bhd and Sunway City Bhd by offering cash and new shares at RM2.80 each. The share slump on its debut is due mainly to the "global situation," executive chairman Jeffrey Cheah told reporters in Kuala Lumpur today. "We are quite happy with our share price given the circumstances," he said. "Markets go up and down. We are not worried too much." -- Bloomberg

KNM drops to 29-month low Posted: 22 Aug 2011 07:05 PM PDT KNM Group Bhd, a Malaysian oil and gas services provider, slid to a 29-month low in Kuala Lumpur trading after second-quarter net income fell 23 per cent to RM10.9 million. The stock dropped 1.4 per cent to RM1.46 at 9:40 a.m. local time, bound for its lowest close since March 20, 2009. -- Bloomberg

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