Read more: http://www.btimes.com.my/articles/20111228014752/Article/
Proton shares were the top gainer, surging 41 sen to RM4.79, while its CH and CG warrants were the most heavily traded securities on Bursa Malaysia. Proton CH edged up 13.2 sen to 44 sen on a volume of 59.67 million units, while Proton CG rose 17 sen to 49.5 sen with 59.08 million units traded. UMW, reported to be one of the suitors to buy Khazanah Nasional Bhd's 42.7 per cent stake in Proton, climbed 38 sen to close at RM6.98 as the second top gainer. Dealers said Proton shares had risen due to a possible general offerif Khazanah decided to sell its entire Proton stake and not partially. Earlier this month, proton-CG, Proton CH and Proton-CI warrants saw heavy trading, with their prices rising more than 10 times in a span of one month. They subsequently had a selldown, wiping off some 30 per cent of the gains. Proton shares started to climb higher when the national carmaker's adviser Tun Dr Mahathir Mohamad said earlier this month that the stake should not be sold to a foreign shareholder. Besides UMW, DRB-HICOM Bhd, the Naza Group and Sime Darby Bhd are also believed to be interested in the stake. Meanwhile, the broader FBM KLCI market climbed 4.76 points to 1,500.91 yesterday, its best in five months. But the market is likely to remain pensive in the last remaining days of the year as fund managers and investors switch on their holiday modes.
Proton shares were the top gainer, surging 41 sen to RM4.79, while its CH and CG warrants were the most heavily traded securities on Bursa Malaysia. Proton CH edged up 13.2 sen to 44 sen on a volume of 59.67 million units, while Proton CG rose 17 sen to 49.5 sen with 59.08 million units traded. UMW, reported to be one of the suitors to buy Khazanah Nasional Bhd's 42.7 per cent stake in Proton, climbed 38 sen to close at RM6.98 as the second top gainer. Dealers said Proton shares had risen due to a possible general offerif Khazanah decided to sell its entire Proton stake and not partially. Earlier this month, proton-CG, Proton CH and Proton-CI warrants saw heavy trading, with their prices rising more than 10 times in a span of one month. They subsequently had a selldown, wiping off some 30 per cent of the gains. Proton shares started to climb higher when the national carmaker's adviser Tun Dr Mahathir Mohamad said earlier this month that the stake should not be sold to a foreign shareholder. Besides UMW, DRB-HICOM Bhd, the Naza Group and Sime Darby Bhd are also believed to be interested in the stake. Meanwhile, the broader FBM KLCI market climbed 4.76 points to 1,500.91 yesterday, its best in five months. But the market is likely to remain pensive in the last remaining days of the year as fund managers and investors switch on their holiday modes.
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