Market Review

Higher closing. The FBM KLCI rose 3.84 points to close at 1,572.21 on Friday. Meanwhile, Johor Corp is considering selling various assets, including some landbank, properties and plantation assets to partly repay its current RM3.6bn debt, which is due for repayment in July 2011 while Hap Seng Consolidated Bhd is proposing a renounceable rights issue, bonus issue and private placement to raise funds for capital expenditure requirements, corporate purposes and additional working capital. QSR Brands Bhd will be investing over  RM40m to expand its restaurant outlets this year while VTI Vintage Bhd has been awarded a RM26.5m contract by Billion Edge SB to undertake building and infrastructure works in Negeri Sembilan. According to Bank Negara, Malaysia’s international reserves amounted to US$106.5bn on 31 Dec 2010. Finally, both the US markets and crude oil price ended marginally lower on Friday as the USD strengthened slightly on growing signs of a recovery of the US economy.