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Market Daily Report: Bursa Malaysia Ends Higher In Line With Most Regional Markets

KUALA LUMPUR, Sept 20 (Bernama) -- Bursa Malaysia ended higher on Friday in line with most Asian markets, mirroring gains from Wall Street, where investors welcomed the US Federal Reserve's substantial interest rate cut. The FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 3.17 points, or 0.19 per cent, to 1,668.82 at the close from Thursday's close of 1,665.65. It opened 5.03 points higher at 1,670.68, trading between 1,668.48 and 1,674.04 throughout the session. In the broader market, gainers outpaced decliners 732 to 468, while 465 counters were unchanged, 850 untraded and 32 suspended. Turnover swelled to 4.19 billion units worth RM5.97 billion, from Thursday's 3.99 billion units worth RM4.08 billion. UOB Kay Hian Wealth Advisors head of investment research, Mohd Sedek Jantan, noted the FBM KLCI's gains were led by utilities, logistics, and banking stocks, reflecting improved market sentiment. Additiona
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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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