Tycoon Ananda Krishnan’s companies see slight dip in share prices

KUALA LUMPUR: The share prices of Maxis Bhd, Astro Malaysia Holdings Bhd and Bumi Armada Bhd saw a modest decline amid a bearish market and the news of the passing of business tycoon Ananda Krishnan earlier today.

Overall, Bursa Malaysia, which is already in cautious mode, remained bearish as it tracked the regional markets, which followed Wall Street's downbeat performance overnight.

Ananda established Maxis Communications in 1993, one of the oldest and largest telecommunications companies in Malaysia.

With a market capitalisation of RM27.81 billion (US$6.29 billion), Maxis ranks as the 16th largest Malaysian company on Bursa Malaysia.

At 3.45 pm, Maxis shares were three sen lower at RM3.53 with 369,200 shares traded.

The counter opened today's trading flat at RM3.56 and was subsequently on a downtrend to hit its day's low at RM3.51.

Shortly after the market opened for the afternoon session, the shares traded between between RM3.51 and RM3.54.

Astro, meanwhile, was half-a-sen lower at 22.5 sen with 3.31 million shares traded.

The counter has been in the red for the whole trading session, so far. It has a market capitalisation of RM1.12 billion.

Bumi Armada, an international offshore energy facilities and services provider, is currently considering a business merger with the offshore segment of shipping giant MISC Bhd.

Bumi Armada saw its shares drop by one sen to 55.5 sen, with 14.3 million shares changing hands.

The counter opened unchanged at 56.6 sen.

-- BERNAMA