Financial Wire

Malaysian Shares Rebound on Hopes of US-Iran Diplomatic Progress; Puncak Niaga's Shares Gain 3%

-- Malaysian shares rebounded on Thursday, tracking broader regional gains, as investors reacted to renewed optimism over a possible de-escalation in hostilities between the US and Iran.

The FTSE Bursa Malaysia KLCI gained 6.29 points to end 0.4% higher at 1,689.71 The day range was between 1,682.81 and 1,690.83.

In local news, Malaysia will prioritize supplying Australia with surplus fuel from state energy firm Petronas as part of efforts to strengthen energy security amid disruptions linked to the Middle East war, Reuters reported, citing Prime Minister Anwar Ibrahim.

Malaysia's state energy firm Petronas said fuel supply at all its stations is secured through the end of June, even as it continues to manage its supply chain amid global energy market disruptions due to the Iran-US war, Reuters reported.

In corporate news, shares of Puncak Niaga (KLSE:PUNCAK) gained about 3% on Thursday's close after it reported that fresh fruit bunches (FFB) production for March stood at 1,615.40 metric tonnes.

Meanwhile, Golden Destinations Group (KLSE:GDGROUP) has been officially listed on Bursa Malaysia, marking its debut on the ACE Market on Wednesday. Following the initial public offering, the company's enlarged issued share capital stands at 1 billion units, amounting to about 118.1 million ringgit.

Related Articles

Asia

Market Chatter: Hybe Shares Slip 3% as Police Seek to Arrest Founder over 2020 IPO Probe

Shares of Hybe (KRX:352820) fell nearly 3% to 2,48,000 won in Tuesday morning trade after the Seoul Metropolitan Police Agency sought to arrest the entertainment giant's founder Bang Si-hyuk on charges of misleading early investors before the company's initial public offering in 2020.Bang has also been accused of concealing profit-sharing arrangements tied to a private equity fund, Bloomberg reported Tuesday.Authorities suspect Bang made about 190 billion won in illicit gains. Bang denies any wrongdoing, according to the report.The probe, referred to by the Financial Services Commission last year, has raised concerns related to governance, it said.(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

$KRX:352820
Asia

Eswin Materials Tech's 2025 Loss Widens; Shares Down 4%

Xi'an Eswin Materials Technology's (SHA:688783) net loss attributable to shareholders in 2025 slightly widened year on year to 738.2 million yuan, or 0.21 yuan per share, according to the company's annual report published Tuesday on the Shanghai bourse.The attributable loss a year earlier was 737.6 million yuan, while earnings per share were unchanged from 0.21 yuan a year earlier.Operating revenue climbed 25% to 2.65 billion yuan from 2.12 billion yuan in the previous year.The Chinese semiconductor company's shares dropped 4% during the morning trade.

$SHA:688783
Asia

ISOTeam Secures Contract Worth SG$30 Million; Shares Up 4%

ISOTeam (SGX:5WF) secured SG$30 million worth of contracts, according to a Monday filing with the Singapore Exchange.Shares of the facilities maintenance company were up nearly 4% in Tuesday trading.The contracts include a SG$8.3 million coating and painting projects contract, addition and alteration projects worth SG$6.8 million, repair and redecoration contracts worth SG$5.1 million, electrical work projects worth SG$4.8 million and landscaping projects worth SG$1.4 million.Following the award, the company's current order book stands at around SG$186.5 million.

$SGX:5WF
Malaysian Shares Rebound on Hopes of US-Iran Diplomatic Progress; Puncak Niaga's Shares Gain 3% | Financial Wire