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Market Daily Report: Bursa Malaysia Ends Nearly Flat As Construction Stocks Attract Buying

 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.
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Corporate Highlights: Key Updates from Malaysian Companies

 

Deleum Bhd (KL:DELEUM)

  • Acquisition Plans: Acquiring a 70% stake in an Indonesian valve solutions provider to triple its market size in control and pressure relief valves.
  • Expansion Goals: Exploring further acquisitions in Thailand and Vietnam.

T7 Global Bhd (KL:T7GLOBAL)

  • Contract Award: Secured a pan-Malaysia maintenance, construction, modification, and commissioning (MCM & HUC) contract (Package B3) from Petrofac.
  • Duration: Five years, with two extension options totaling five more years.

NationGate Holdings Bhd (KL:NATGATE)

  • AI Servers Launch: Introduced Malaysia’s first locally manufactured AI servers, targeting clients from start-ups to hyperscale data centers.
  • Partnership: Collaborating with a leading GPU manufacturer as an OEM partner.

Dialog Group Bhd (KL:DIALOG)

  • Petronas Partnership: Awarded 100% interest and operator role in the RAJA Cluster small field asset production sharing contract.
  • Scope: Covers development, production, and eventual abandonment of offshore resources.

Fiamma Holdings Bhd (KL:FIAMMA)

  • JV Formation: Partnering with Hong Kong’s Great Trillion Investment Ltd to introduce VINO-brand HVAC solutions to Malaysia.
  • Ownership: Fiamma holds 70% equity in the joint venture, VINO Air-Conditioning (M) Sdn Bhd.

Pavilion REIT (KL:PAVREIT)

  • Hotel Acquisitions: Proposed purchase of Banyan Tree KL and Pavilion Hotel KL for RM480 million.
  • Funding: Private placement to raise RM552 million.
  • Related-Party Deal: Both properties are linked to Pavilion REIT's major unitholder, Tan Sri Lim Siew Choon.

HB Global Ltd (KL:HBGLOB)

  • AI-Driven Agriculture JV: Partnering with the Regent of Pahang to develop AI-powered farming on 500 acres in Pekan, Pahang.
  • Ownership: JV entity, HB Global Capital Sdn Bhd, will be 55%-owned by HB Global.

Destini Bhd (KL:DESTINI)

  • Acquisition in Rail Maintenance: Purchasing Australia-based Trovon Group Pty Ltd to enhance rail maintenance capabilities.
  • Global Expansion: Targeting opportunities in Singapore, Dubai, and China through existing networks.
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