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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


Pharmaniaga Bhd (KL) expects its newly launched biopharmaceutical plant to significantly boost its gross profit margin to 30%-35% by FY2026. Located in Puchong, the facility, operated by Pharmaniaga Life Sciences Bhd, has an annual production capacity of 30 million doses of human insulin and other essential biopharmaceuticals such as vaccines and biosimilars. The company anticipates generating RM100 million per year from insulin and RM300 million annually from vaccines, marking a substantial revenue increase.

Country Heights Holdings Bhd (KL) announced it would ask the contractor for its Kedah residential project, Lean Xing Construction Sdn Bhd, to withdraw a legal suit filed against its subsidiary, Country Heights Smart Living Sdn Bhd, over alleged unpaid payments. The project involves 90 modern homes in Kolej Heights Utara. If the contractor refuses to withdraw, Country Heights will notify Bursa Malaysia of potential reputational harm.

Eco World Development Group Bhd (KL) reported a strong 21.26% year-on-year increase in third-quarter net profit, rising to RM80.44 million as revenue grew 10.35% to RM526.22 million. The growth was driven by improved contributions from active phases of its Malaysian developments and cost savings from completed projects. The group also declared a two sen dividend per share, payable on October 23.

SSF Home Group Bhd (KL) experienced a more than 50% decline in 1QFY2025 net profit, dropping to RM1.25 million from RM2.65 million a year earlier. The decline was attributed to softer consumer demand, with revenue falling 18.5% to RM32.03 million.

United Malacca Bhd (KL) saw its 1QFY2025 net profit surge nearly fivefold to RM13.29 million, up from RM2.68 million a year earlier. This growth was fueled by higher crude palm oil and palm kernel prices. Revenue rose 20.54% year-on-year to RM163.88 million.

Ancom Nylex Bhd (KL) is set to acquire a 70% stake in Colorex Sdn Bhd for RM14 million. Colorex is a top supplier of specialty chemicals to the local automotive sector and serves industries such as furniture and construction. The acquisition comes with a profit guarantee of RM2.5 million per year for two consecutive years.

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