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Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
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Key Corporate Updates from Malaysia

 Key Business Announcements on October 24:

  1. Rexit Bhd - Two major shareholders, Datuk Seow Gim Shen and Kong Chien Hoi, were sentenced to 14 weeks in jail in Singapore for their involvement in a conspiracy to illegally obtain personal data of over 9,000 individuals, linked to cybercrime for gambling operations.

  2. Nestlé (Malaysia) Bhd - The company's net profit for 3QFY2024 fell 36.12% to RM85.41 million due to lower domestic sales and cautious consumer spending. Nestlé halved its dividend to 35 sen per share, down from 70 sen a year ago.

  3. ViTrox Corp Bhd - Net profit for 3QFY2024 dropped 32.5% to RM22.45 million, impacted by foreign exchange losses and slow demand recovery for automated board inspection systems.

  4. Pavilion Real Estate Investment Trust - 3QFY2024 net property income increased 8.65% to RM131.86 million, driven by lower operating expenses and higher rental income. The distribution per unit rose to 2.38 sen.

  5. CapitaLand Malaysia Trust - 3QFY2024 net property income grew 6.3% to RM61.99 million, with higher revenue from its properties. It announced a 1.07 sen distribution per unit.

  6. DXN Holdings Bhd - Net profit for 2QFY2025 dropped 13.2% to RM65.97 million, due to higher shipping costs and foreign exchange losses, despite record-high revenue of RM488.43 million.

  7. Luxchem Corp Bhd - 3QFY2024 net profit fell 26% to RM6.67 million due to higher administrative expenses, although revenue rose 18.29% to RM196.09 million.

  8. AWC Bhd - The company secured a RM9.4 million contract from the Melaka Public Works Department for facilities management at the Sungai Melaka immigration complex.

  9. SC Estate Builder Bhd - The termination of a RM4.3 million contract with Merchant Esteem Sdn Bhd was attributed to low demand and uncertainties in the commercial property market.

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