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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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Key Corporate Updates from Malaysia


Datasonic Secures RM21 Million Government Contract Datasonic Group Bhd's unit, Datasonic Technologies Sdn Bhd, won a RM21 million contract from the Ministry of Economy to rent out 818 vending machines for the People's Income Initiative (IPR) programme, aiding poor Malaysians to generate income by selling cooked food.

Dialog Expands Renewable Fuel Storage in Johor Dialog Group Bhd is adding 150,000 cubic meters of storage for renewable and petroleum products at its Terminal Langsat 3 in Johor. The storage expansion includes 100,000 cu m for EcoCeres Ltd and 50,000 cu m for third-party customers.

Kelington Acquires Remaining Stake in Ace Gases for RM35.69 Million Kelington Group Bhd is set to acquire the remaining 9.29% stake in Ace Gases Sdn Bhd, making it a wholly-owned subsidiary. This acquisition will enhance Kelington's strategic flexibility and growth potential in the industrial gas sector.

IHH Healthcare Explores Outcome-Based Payment Models IHH Healthcare Bhd announced its readiness to explore outcome-based payment models following positive results from its value-driven outcomes initiatives, which improved clinical processes and patient outcomes.

PMB Technology Plans RM300 Million Rights Issue PMB Technology Bhd proposes a renounceable rights issue to raise around RM300 million. The company seeks undertakings from major shareholders, including the Koon family, to subscribe to the rights shares not taken up by other shareholders.

Ekovest Disposes of Land in Kuala Lumpur Ekovest Bhd is selling four parcels of land in Jalan Pahang, Kuala Lumpur, to Airman Sdn Bhd for RM9.82 million. The transaction, deemed a related party transaction, is expected to generate a gain of RM3.51 million for Ekovest.

Paragon Globe Expands Land Holdings in Johor Bahru Paragon Globe Bhd is purchasing additional land in Plentong, Johor Bahru, for RM34.96 million. The new acquisition aims to bolster the company's presence and will be developed into an industrial area.

Tune Protect Appoints New Group CEO Tune Protect Group Bhd appointed How Kim Lian as the new Group CEO, succeeding Rohit Nambiar. How will focus on enhancing the company's presence in the lifestyle ecosystem and expanding its reach in the travel insurance sector.

HB Global Appoints New Chairman HB Global Ltd named Datuk Johan Pahlawan Lela Perkasa Setiawan Datuk Muhammad Abdullah as its new independent non-executive chairman. Muhammad brings a wealth of experience in land management, education, and financial services.

Marine & General Chairman Exercises Call Option Marine & General Bhd's executive chairman Tan Sri Mohammed Azlan Hashim and his son exercised a call option to acquire 3.2 million preference shares in Jasa Merin (Malaysia) Sdn Bhd, valued at RM3.52 million.

Chin Teck Plantations Doubles 3Q Net Profit Chin Teck Plantations Bhd reported a near doubling of its 3Q net profit to RM22.69 million, driven by higher sales of fresh fruit bunches, crude palm oil, and palm kernels. The company declared a total dividend of 28 sen per share.

EcoFirst's 4Q Net Profit Surges EcoFirst Consolidated Bhd saw its 4Q net profit more than double to RM41.51 million, driven by a higher sales conversion rate for its KL-48 project. Revenue for the quarter increased nearly fivefold year-on-year to RM87.86 million.

Genting Plantations Issues RM1.2 Billion Sukuk Wakalah Genting Plantations Bhd's subsidiary, Benih Restu Bhd, issued RM1.2 billion in Islamic medium-term notes under its RM2 billion Sukuk Wakalah programme. The sukuk has a 10-year tenure with a profit rate of 4.08% per annum.

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