FBMKLCI 1511.97 DJ+67.39 CRUDE OIL 105.45 RM 3.002

US stocks closed higher Wednesday led by industrial and mining companies, as traders eyed the knock-on effects of higher metal and commodity demand and Japanese reconstruction.

Integrax Bhd co-chief executive Harun Halim Rasip has disposed of his entire equity interest in the port management company to TNB for RM106.46 million. TNB said the purchase price represented a premium of 13.5% to the five-day weighted average market price of Integrax shares up to and including March 18, of RM1.41. “TNB intends to fund the purchase consideration entirely through internally generated funds,” it said.

Hai-O’s earnings fell 65% to RM6.34 million for the third quarter ended Jan 31, 2011 from RM18 million a year ago as revenue shrank following lower sales from its multi-level marketing (MLM) division. Revenue fell to RM57.60 million from RM131.28 million a year ago due mainly due the poorer performance of the MLM division, which is its principal subsidiary.

Axiata Group Bhd has imposed a 12-month suspension on Alcatel-Lucent group (ALU) including its Malaysian operations which would bar it from any new bids for contracts, but it would continue all existing contracts. Axiata said on the suspension would include suspension of the ALU group from any invitations to submit any new tenders, entry into new contracts or continuing with any negotiations that are currently being undertaken with any group member.