Stock news

*July 1*

*DOW J*: ⬆235.31

*WTI CRUDE OIL*:  48.33


*USD/MYR*:  3.99


**SALCON* is into Australia high-rise residential development with an estimated gross development value of A$230 million (RM691.8 million).

**RAM* downgraded *TANCHONG* long-term corporate credit rating and the group’s RM1.5 billion medium-term notes programme (2014/2034) rating to “A1/Stable”, from “AA2/Negative”.

**HIBISCUS* said the valuation of its interest in Anasuria Cluster oil and gas field was at US$208 million, an uplift of 84% in valuation from the previous valuation of US$113 million.

**CCM* today announced the divestiture of its fertilizers operations in Sabah and Sarawak.

**MUDA* expects its glazed paper machine worth RM34 million to begin operation by next month, after a one-year delay.

**YINSON* net profit jump 2.14 times or 114.16% to RM22.38 million in the 1Q ended April 2016, from RM10.45 million a year ago, as its gross profit margin improved, while fair value loss on derivatives declined.

**MRCB-Quill REIT* is buying Menara Shell in KL Sentral from Malaysian Resources Corp Bhd (MRCB) for RM640 million.

**KKB* has clinched RM11.4 million worth of contracts, related to the supply of steel products.

**INSAS* has teamed up with GreenTech Catalyst Sdn Bhd, a government-linked entity, to import electric vehicles into the country.

**SSB* said it has resolved all issues relating to an industry-wide audit conducted by the Royal Malaysian Customs Department on its subsidiary, Southern Steel Pipe Sdn Bhd (SSP).