KUALA LUMPUR, Sept 10 (Bernama) -- Bursa Malaysia finished lower on Thursday, along with other regional markets, as the widening war in West Asia and high oil prices weighed on sentiment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 8.82 points, or 0.51 per cent, to 1,705.52 from Wednesday’s close of 1,714.34. The benchmark index opened 1.64 points lower at 1,712.70 and moved between 1,701.68 and 1,713.08 throughout the trading session. Market breadth was also negative, with decliners outnumbering gainers 657 to 532. A total of 515 counters were unchanged, 1,127 untraded, and 21 suspended. Turnover expanded to 3.98 billion units valued at RM3.14 billion from 3.66 billion units valued at RM3.49 billion on Wednesday.
Key Takeaways:
- Profit Decline: Unisem (M) Bhd's net profit fell 29% to RM16.76 million in Q2FY2024 from RM24 million a year earlier.
- Revenue Increase: Despite the profit drop, revenue rose 4% to RM394.59 million due to higher sales volume and favorable USD to ringgit exchange rates.
- Dividend Announcement: Unisem declared a second interim dividend of two sen per share, payable on October 4.
- Earnings Per Share: EPS decreased to 1.04 sen from 1.48 sen.
- Six-Month Performance: For the first half of 2024, net profit decreased to RM25.22 million from RM33.79 million, while revenue grew to RM759.36 million from RM732.70 million.
- Industry Outlook: The semiconductor industry remains cautious, but Malaysia could benefit from global trade shifts and the National Semiconductor Strategy (NSS).
Despite the profit decline, Unisem's share price increased by eight sen to RM4.20 at midday, valuing the company at RM6.77 billion.
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