Malaysia Morning Wrap | Oriental Kopi Holdings Bhd Sees 99% Surge on ACE Market Debut

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Bursa Malaysia retreated on Thursday after four consecutive days of gains, as profit-taking activities led to a market dominated by sellers. The benchmark FBM KLCI index closed down 10.6 points, or 0.67%, at 1,577.20, recovering slightly from its intraday low of 1,575.67. Decliners significantly outnumbered gainers, with 671 stocks falling compared to just 283 that rose. Trading volume increased to 3.23 billion shares, valued at RM2.75 billion. Notable decliners included Allianz, which fell 70 sen to RM18.90, and $NESTLE (4707.MY)$ , which dropped 38 sen to RM91.

However, there were bright spots. ACE Market debutant $KOPI (0338.MY)$ surged 98.86%, or 46.5 sen, to close at 87.5 sen, making it the top gainer and most actively traded stock on Bursa Malaysia, with 828.72 million shares traded.

YTL Corp Bhd $YTL (4677.MY)$ and YTL Power International Bhd $YTLPOWR (6742.MY)$ have both announced plans for a bonus issue of free warrants. Under the proposals, shareholders will receive one free warrant for every five shares they hold in each company. The warrants are set to be exercisable at a discount to the current share prices: a 37% discount for YTL Corp and a 39.5% discount for YTL Power, based on their closing prices on Thursday. If fully exercised, the warrants are expected to raise RM3.4 billion for YTL Corp and RM2.2 billion for YTL Power. It is worth noting that YTL Corp holds a 54.94% stake in YTL Power.

Oriental Kopi Holdings Bhd $KOPI (0338.MY)$ , the café chain operator that saw a 99% surge in its ACE Market debut on Thursday, is ramping up its expansion in the fast-moving consumer goods (FMCG) segment. The company aims to launch over 20 new products by the end of the year. Managing Director Datuk Calvin Chan Jian Chern announced at a press conference that Oriental Kopi is currently partnering with major supermarkets to broaden its distribution channels and increase product accessibility. The stock closed at 87.5 sen on Thursday, more than double its initial public offering price of 44 sen.