Bursa eyes global investors with new Shariah-compliant index

KUALA LUMPUR: Bursa Malaysia's latest Shariah-compliant index is expected to tap investments from the large global Islamic equity funds worth more than US$5bil, said its Information Services head Chuah Kong Khai.

The FTSE Bursa Malaysia Hijrah Shariah Index was expected to attract global investors and could be used for Shariah-compliant investment products such as the Exchange Traded Funds (ETFs), he said.

"There is a growing appetite worldwide for Islamic financial products.

"The international Islamic financial market grows at 12% to 15% per year, reflecting vast investment opportunities," he told reporters after the launch of the index Monday.

He said the index, which was the eighth Shariah-compliant index launched to date, requires 30 stocks to be traded at any one time.

Chua also said that a half yearly review was conducted to monitor both the market interest and index performance.

URL: http://biz.thestar.com.my/news/story.asp?f...46&sec=business

My colleagues are so interested with UNISEM (5005). Today closing price is 1.56 after losing 0.12

Heard that Magnum is paying a dividend of 70 cents per share.

brother wufei, we missed you. Where have you been?

Still early to tell right? The trade just starting in roughly 1 hour.

This post has been edited by David83: May 24 2007, 10:43 PM

Hey guys, want to ask some noob questions.

Does buying IPO good? Profitable?

This post has been edited by David83: May 25 2007, 10:38 PM

There're 10 IPO counters:



Should beginner or amateur like me focus on IPO first?

This post has been edited by David83: May 25 2007, 10:46 PM

Maxis ends last trading day at RM15.20

PETALING JAYA: Yesterday was the last trading day on Bursa Malaysia for Maxis Communications Bhd after a five-year stint. Its shares closed 10 sen lower to RM15.20 after hitting a day's high of RM15.40.

At RM15.40, it is still 20 sen lower than what Maxis shareholders would be getting from Binariang GSM Sdn Bhd that is taking Malaysia's largest mobile operator private at RM15.60 a share. Come Monday, trading in Maxis shares will be suspended.

Binariang is said to now hold 99.44% of Maxis' shares and with that, Binariang can invoke Section 34 of the Securities Commission Act to compulsorily acquire all Maxis shares that it does not already own.

News of the privatisation of Maxis in early May had shocked many as they had not thought a company that delivered good dividends and earnings, and had so much growth potential, would ever be taken private.

The biggest privatisation in recent times, the whole deal would cost Binariang RM40bil.

Post-privatisation, Maxis is headed for some challenging times.

Over the next three years, it needs about RM15bil in capital expenditure, with the bulk to be invested in growing its business in India.

The resolution of the funding arrangements and the entry of a new partner in Indonesia would allow the revival of its operations in the republic.

Earlier this week, Maxis won three awards and is one of the most admired companies in Asia for its growth strategy, its expansion into other markets in the region and for being innovative. For these reasons, it was named the Asian Mobile Operator of the Year 2007.

This goes to show that Maxis, on a regional plane, stands out among its bigger rivals such as Singapore Telecommunications, South Korea Telecom and even China Mobile, which has over 340 million subscribers.

URL: http://biz.thestar.com.my/news/story.asp?f...63&sec=business

It's still early to say anything till DJIA closes.

If it drops a lot, then we might have another bloody day on Monday.

My guess will be 9.30pm (Malaysian time).