KLCI dropped 4.92 points to close at 1257.57.
A new fuel subsidy scheme will be announced on Wednesday and will take immediate effect to prevent speculations, said PM Abdullah Ahmad Badawi.
Shahrir Samad said that the subsidy scheme on fuel will be unveiled in stages, however, the final implementation will be in August. Retail prices would still depend on global market.
PM Abdullah suggests to the international community to consider stopping the trade in crude oil futures to prevent speculative bidding.
Malaysian Plastic Manufacturers says that it will pass on the costs of higher plastic resins to intermediate users and retailers. Resins was up by 20% since January.
Airasia wants a level playing field. It wants more flights to Singapore from Penang, Kota Kinabalu and Kuching.
WCT Engineering says the 9-ha Platinum Plaza project in Vietnam is on track which will be ready by 2014. It has not budgeted the revenue contribution over the next 2 years.
April trade exports are up by 20.9% to RM 55.8b from a year ago, imports are up by 10% to RM 44.32b. Trade surplus surge to RM 11.48b, up 95.8% on year to year basis.
Goldman Sach ceases to be the Green Packet substantial shareholder after selling 1.23m shares on May 23. It sold 2.1m shares from May 16 to May 22.
The World Association of Newspapers said that the global newspaper circulation is up by 2.6%, buoyed by Asia and South America sales and despite slump in the US and Europe.
The global sales of semiconductors are up by 5.9% to US$21.2b in April from US$20.1b a year ago but flat compared with US$21.2 b in March this year.
Kamdar withdraws the proposed dividend of 5% per share, up for shareholders’ nod at AGM, after the trustees of its RM 60m bonds rejected the proposal.