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Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
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George Kent Appoints Leong as Director for Strategic New Ventures

George Kent (Malaysia) Bhd (KL) has announced the appointment of Datuk Thomas Leong Yew Hong as its director of strategy and investments, effective August 1. Leong’s role will focus on steering the group into new areas beyond its traditional industries, such as renewable energy and data centre solutions.

Key Takeaways:

  • Strategic Appointment: Datuk Thomas Leong Yew Hong will work closely with Executive Chairman Tan Sri Datuk Tan Kay Hock on long-term strategies, business development, and investments, including mergers and acquisitions.

  • New Ventures: Leong’s focus will include exploring opportunities in renewable energy, high technology, artificial intelligence, and data centre solutions, positioning George Kent to diversify into "businesses of the future."

  • Complementary Businesses: In addition to new ventures, Leong will also explore opportunities in complementary sectors such as water infrastructure and rail transportation, which the group has not yet fully explored.

  • Industry Experience: George Kent has a strong brand and over 80 years of experience in water infrastructure, metering, and rail transportation. Leong’s appointment is expected to leverage this track record to drive new growth areas.

  • Rail Transportation Achievements: The company has been a major player in Malaysia’s urban rail expansions, contributing to projects like the Ampang LRT line extension, MRT2, and LRT3.

  • Market Performance: As of Tuesday, George Kent’s shares last traded at 46.5 sen, with a market capitalisation of approximately RM261 million.

Leong’s appointment marks a strategic move for George Kent as it aims to diversify and explore new, high-potential industries, leveraging its established expertise and strong market presence.

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