Sunway incorporates new unit in Vietnam

KUALA LUMPUR: Sunway Marketing ( S) Pte Ltd, a unit of Sunway Bhd, has incorporated Sunway Marketing ( Vietnam) Co Ltd yesterday in Vietnam.

In a fi l ing with Bursa Malaysia, Sunway Bhd said the issued and paid-up capital amounted to US$ 100,000 ( US$ 1 = RM3.97).

Sunway Marketing ( Vietnam) will be primarily involved in the trading of hoses and fittings, heavy equipment and parts.

At close of trading yesterday, Sunway was down one sen at RM1.49 with 7.82 million shares traded. — Bernama THE Malaysian rubber market closed higher yetserday in line with firmer oil prices and an uptrend in regional rubber futures markets.

A dealer said the benchmark Tokyo rubber futures also closed higher today due to a technical recovery following a continuous fall until Thursday.

“Optimism in the rubber market was further lifted by higher oil prices, which gained due to ongoing supply cuts led by the Organisation of the Petroleum Exporting Countries,” he added.

Brent crude futures traded at US$ 79.55 per barrel, up 0.3 per cent, while US West Texas Intermediate (WTI) crude futures was at US$ 71.65 a barrel or up 0.2 per cent.

At 12pm, the Malaysian Rubber Board’s official physical price for tyre-grade SMR 20 rose 8.5 sen to 559 sen per kg, while latex-inbulk gained seven sen to 488.5 sen per kg.

The unofficial closing price for tyre-grade SMR 20 gained 12.5 sen to 562.5 sen a kg, while latexin-bulk increased six sen to 485.5 sen a kg.