KUALA LUMPUR, Feb 11 (Bernama) -- Bursa Malaysia ended higher today as buying on selected blue chips continued, said a brokerage. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 8.85 points or 0.51 per cent to 1,756.39 from Tuesday’s close of 1,747.54. The barometer index opened 3.69 points higher at 1,751.23 before moving as low as 1,745.51 in early trade to as high as 1,757.15 during the mid-afternoon session. Market breadth was positive with gainers leading losers 575 to 474, while 549 counters were unchanged, 1,087 untraded and 11 suspended. Turnover expanded to 2.55 billion units valued at RM3.06 billion from yesterday’s 2.19 billion units valued at RM2.35 billion.
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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