Friday 29 Mar 2024
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KUALA LUMPUR (May 23): MISC Bhd shares fell 3.3 percent, more than any full-day drop since Feb. 5, as Malaysia's benchmark index declined.

Market Metrics

* Shares declined to RM6.45, the lower than any close since August 2014, from RM6.67 in the previous session.

* Trading volume was more than triple the 20-day average

* Move compares with the 0.3 percent loss in the FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index and the less than 0.1 percent change in the MSCI AC Asia Pacific Index.

Market Insights

* Shares are at a 5.8 percent discount to the analysts' consensus target price. The stock traded at an average 1.7 percent discount over the past year.

* Stock declined 12 percent in the past 52 weeks as the FTSE Bursa Malaysia KLCI Index - Kuala Lumpur Composite Index gained 3.9 percent.

Catalysts

* A cash dividend of 7 sen per share is pending with May 24 as the estimated ex-date.

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