Resilient Global Markets

Global stockmarkets have stayed resilient over the last one week with Wall Street staying above the psychological 13,000 mark given promising corporate results. Kuala Lumpur Stock Exchange (KLSE) have also performed well last week, with the index overtaking the historical high once more. Back home in Malaysia, the index had been further reinforced by one of the largest telecommunication player, Maxis, plan to be taken private, via a whopping RM40billion (USD11.5b) privatization deal, thus making it one of the three largest deals in Asia (ex Japan) in recent times! This is indeed a generous offer by the management of leading telco in Malaysia...At RM15.60 a share, it is a whopping 258% gain for shareholders who have first subscribed to the IPO price at only RM4.36 less than 5 years ago in July 2002!

This shows again if you invest long term in a fundamentally sound company with solid track record and management, it can be a truly rewarding journey!