KUALA LUMPUR (Feb 10): Water stocks, especially those related to Selangor, saw the rally dry up on Friday morning, with Puncak Niaga leading the decliners.
At 10.51am, the FBM KLCI fell 1.17 points to 1,564.15. Turnover was 1.23 billion shares valued at RM688.83 million. There were 439 gainers, 260 losers and 314 stocks unchanged.
Puncak fell 15 sen to RM1.74 with 12.77 million shares done. KPS lost 10 sen to RM1.29 and KHSB eight sen lower to 70 sen.
The Edge Financial Daily reported on Friday that Selangor Menteri Besar Tan Sri Khalid Ibrahim, had on Tuesday, said in a statement Bursa Malaysia has yet to explain satisfactorily why Puncak Niaga was given a waiver from being listed as a PN17 company.
Also on Tuesday, the Selangor government said in a statement that it would continue to push ahead for the restructuring of the water industry, claiming the water concessionaires will continue to fail the rakyat. It added that Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) should not be retained as the water services operator in the state.
At 10.51am, the FBM KLCI fell 1.17 points to 1,564.15. Turnover was 1.23 billion shares valued at RM688.83 million. There were 439 gainers, 260 losers and 314 stocks unchanged.
Puncak fell 15 sen to RM1.74 with 12.77 million shares done. KPS lost 10 sen to RM1.29 and KHSB eight sen lower to 70 sen.
The Edge Financial Daily reported on Friday that Selangor Menteri Besar Tan Sri Khalid Ibrahim, had on Tuesday, said in a statement Bursa Malaysia has yet to explain satisfactorily why Puncak Niaga was given a waiver from being listed as a PN17 company.
Also on Tuesday, the Selangor government said in a statement that it would continue to push ahead for the restructuring of the water industry, claiming the water concessionaires will continue to fail the rakyat. It added that Syarikat Bekalan Air Selangor Sdn Bhd (Syabas) should not be retained as the water services operator in the state.
