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.
TMC Life Sciences
- CEO Dismissal: Wan Nadiah Wan Abdullah Yaakob confirmed her dismissal as CEO over alleged misconduct.
- Response: Wan Nadiah denies allegations and plans to appeal the decision, stating no accusations of criminal breach, financial mismanagement, or integrity issues.
Banking Updates: CIMB, OCBC, Maybank
- Panin Bank Stake: CIMB, OCBC, and Maybank are competing for a controlling stake in Indonesia’s Panin Bank.
- Offers: Non-binding offers submitted by OCBC and CIMB, with Maybank working on a potential bid.
Gamuda and DNeX Collaboration
- Google Cloud Partnership: Gamuda acquired a 20% stake in Cloud Space Sdn Bhd for RM18 million to tap into the RM36 billion technology services market.
- Joint Venture: Partnering with DNeX to deliver Google Cloud services to Malaysian businesses and government agencies.
SkyWorld Development
- Affordable Housing in Penang: Signed an agreement for Malaysia's largest affordable housing project worth RM13 billion.
- Scope: Over 38,000 homes targeting the M40 group, priced between RM225,000 and RM420,000, with the first phase launching in 2026.
Mega First Corporation
- Don Sahong Hydropower Project: Secured a five-year concession extension for its Laos-based project, extending the end date to 2049.
- Capacity Boost: Added a fifth turbine generator to enhance power generation.
JHM Consolidation
- Proton Contracts: Secured RM300 million worth of contracts to supply parts for Proton car models, with deliveries commencing in late FY2025.
MN Holdings
- Data Centre Project: Awarded a RM162.59 million contract for a hyperscale data center in southern Peninsular Malaysia, expected to complete by July 2025.
PGF Capital
- Kulim Hi-Tech Park Development: Acquired 9.6 acres for a mixed development project worth RM600 million, including condos, hotels, and commercial spaces, to be developed over six years starting 2026.
OCK Group
- Solar Investment: Expanding renewable energy portfolio with a RM350 million investment in a large-scale solar plant in Malaysia through a partnership with Solarpack Asia.
Sunview Group
- Solar Contracts: Secured RM196.1 million in contracts for two 40MWp solar power plants in Kedah. Project timelines not disclosed.
SNS Network Technology
- Profit Surge: Reported a five-fold increase in Q3 net profit to RM10.2 million on improved margins, despite a 5.16% revenue dip. No dividend declared.
Takeaway:
The day’s highlights emphasize renewable energy investments, regional banking moves, and major infrastructure projects, showcasing a dynamic and growth-focused business environment across various sectors.
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