Lower on poor sentiment
BURSA Malaysia closed in the red weighed by both local and external factors, namely the Petronas rating downgrade as well as weaker performance of most global equity markets, said M&A Securities Sdn Bhd chief dealing officer R. Sundararajah.
At 5 pm, the FBM KLCI was 13.33 points weaker at 1,708.09.
In the 2019 Budget tabled last week, Finance Minister Lim Guan Eng said Petronas was expected to pay an additional RM30bil in special dividend, making the total dividend commitment to RM54bil.
This has resulted in rating agency Moody’s Investors Service to downgrade the outlook on Petronas’ prospect assessment from stable to negative. — Bernama
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