KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
Mr DIY Group (M) Bhd (KL): Bee Family Ltd, the largest shareholder of Mr DIY, sold 71.7 million shares, reducing its stake to 50.11%. The shares were sold for RM149.37 million in a direct business transaction.
Capital A Bhd (KL): Shareholders approved the RM6.8 billion sale of its aviation business to AirAsia X Bhd (KL). This includes the distribution of 73.33% of AAX shares to Capital A’s shareholders. The approval came with 99.97% voting in favor of the disposal and share distribution.
Sungei Bagan Rubber Co (Malaya) Bhd (KL): The company proposed a dividend of eight sen per share for FY2024, comprising a two-sen final dividend and a six-sen bonus dividend. Additionally, Kuchai Development Bhd (KL) emerged as a substantial shareholder, following the completion of an asset and liability acquisition deal.
Kuchai Development Bhd (KL): After completing its asset and liability disposal to Sungei Bagan, Kuchai has become a cash company, triggering Bursa Malaysia's Main Market listing rules on cash holdings.
Ho Hup Construction Company Bhd (KL): Golden Wave Sdn Bhd, a 52.5%-owned subsidiary of Ho Hup, is facing a winding-up petition over a RM23.16 million payment dispute tied to a project in Kota Kinabalu. The petition hearing is set for Nov 18.
Critical Holdings Bhd (KL): The company secured a RM62.5 million contract from IJM Corp Bhd (KL
) to provide mechanical and electrical services for a semiconductor plant in Penang, which is being developed for a US-based multinational company.
Fajarbaru Builder Group Bhd (KL): Fajarbaru is purchasing 51.17 acres of land for RM111.45 million to develop a Medi-City in Bandar Cassia, Batu Kawan, Penang. The project includes a wellness village, medical education hub, and other health-tech-related developments.
BCB Bhd (KL
): The company acquired 54.71 acres of freehold land in Kluang, Johor, for RM31 million. BCB plans to develop residential units and retail shops on the site, with a gross development value of RM245 million.
Pan Malaysia Holdings Bhd (KL): Now trading as Exsim Hospitality Bhd, the company secured a RM47.4 million subcontract for interior design works on guest rooms in Damansara Perdana.
Tanco Holdings Bhd (KL): Tanco is forming an 80:20 joint venture with Menteri Besar Negeri Sembilan (Inc) to develop an industrial park in Port Dickson, provisionally named the Port Dickson Free Zone, spanning 575 acres. The project will include warehouses, factories, and other infrastructure developments.
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