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Momentum indicators are bullish, as the RSI is rising toward the overbought territory, while the MACD line has crossed above the signal line. The price also remains firmly above the EMA-20, EMA-50, and EMA-200, reinforcing the overall bullish sentiment.
Magma Clears Legacy Impairment in Q3 FY2025 and Strengthens Growth Path Ahead, which is a one-off non-cash accounting adjustment arising from the entire write-off of development costs for the Impiana Cherating project.
Magma has proposed a private placement of up to 168.11 million new shares, representing up to 10% of its issued share capital, to raise up to RM50.1 million to fund property development works and investments in its hotel division