Cahya Mata Sarawak emerges top gainer in morning session

Cahya Mata Sarawak Bhd topped the gainers list in the morning session today after receiving the approval from Bursa Malaysia for its proposed share split and bonus issue.

At 11.58 am, Cahya Mata Sarawak shares rose 50 sen, or 5.43 per cent, to RM9.70, with 588,900 shares changing hands.

Yesterday, the company in a filing to Bursa Malaysia, announced that it had received the approval letter from Bursa Malaysia, dated April 11, for the proposed share split and bonus issue.

The company first announced to Bursa Malaysia on March 31 for the two-for-one share split and a one-for-two bonus issue based on the number of shares post-share split.

According to Maybank KE Research, the exercise was expected to tripple Cahya Mata Sarawak's shares to one billion from 340 million currently. -- Bernama