Top Stories World Malaysia Business Technology Entertainment Sports Health
  1. KLCI ends 0.4% up ahead of Bank Negara OPR decision  The Edge Markets MY
  2. Axiata-Telenor non-merger wipes RM9.2b off market cap  The Malaysian Reserve
  3. Malaysia: Shares close higher on Wednesday  The Business Times
  4. KLCI pares gains, struggles to breach 1600 level  The Edge Markets MY
  5. KLCI rises in tandem with regional gains, Petronas stocks lift  The Edge Markets MY
  6. View full coverage on Google News

: THE BUSINESS TIMES Stocks - MALAYSIA share prices closed higher on Wednesday, with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 6.45 points to 1,602.30. . Read more at The Business Times.THE BUSINESS TIMES Global - MALAYSIA share prices closed higher on Wednesday, with the FTSE Bursa Malaysia Kuala Lumpur Composite Index up 6.45 points to 1,602.30. . Read more at The Business Times.

Malaysia: Shares close higher on Wednesday, Stocks - THE BUSINESS TIMES

INVESTORS fled from Axiata Group Bhd and DiGi.Com Bhd yesterday after their proposed merger to create the country’s largest telecommunications company (telco) fell through last week, erasing RM9.2 billion in combined market capitalisation. Shares of Axiata dropped as much as 18% to as low as RM4.01 before recovering at 4.11 and about RM7.03 billion in market value vanished as investors took flight after the company and Telenor ASA called off talks for a merger of their Asian operations. Axiata closed 15.8% lower yesterday, the biggest move since the telco’s initial public offering (IPO) in 2008 and almost 30 times the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI), according to Bloomberg data. Digi, which is 49%-controlled by Telenor, fell 5.9% to close yesterday’s trading at RM4.60, the most in about nine years and 11 times the FBM KLCI. The main index only declined 0.5%, while the MSCI AC Asia Pacific Index gained 0.4%.by NG MIN SHEN/ graphic by TMR<br> INVESTORS fled from Axiata Group Bhd and DiGi.Com Bhd yesterday after their proposed merger to create the country’s largest telecommunications company (telco) fell through last week, erasing RM9.2 billion in combined market capitalisation. Shares of Axiata dropped as much as 18% to as low as RM4.01 before recovering […]

Axiata-Telenor non-merger wipes RM9.2b off market cap