KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Here is a summary of key corporate announcements from Tuesday’s market news:
FGV Holdings will suspend trading on August 15 as Felda’s shareholding surpasses 90%, triggering a privatization. Felda’s offer remains at RM1.30 per share, the same price as its 2020 bid.
Paramount Corp is acquiring a 28% stake in Envictus International Holdings, the operator of Texas Chicken and San Francisco Coffee, for S$38.33 million (RM126.32 million). The purchase marks Paramount’s entry into the F&B sector.
Zetrix AI confirmed it has exited the foreign worker permit renewal business following the expiry of its contract. The service has now shifted to the National Integrated Immigration System, run by HeiTech Padu, Zetrix’s associate.
Bursa Malaysia posted a 29% decline in 2Q net profit to RM57.06 million due to lower securities revenue. The group declared a 14 sen dividend and is maintaining its 2025 PBT target of RM369–408 million, supported by expected market recovery in the second half.
IGB REIT recorded a 9.5% increase in 2Q net property income to RM119.86 million, boosted by higher rental income. IGB Commercial REIT also reported a 10.5% rise in NPI. Both REITs warned of higher costs from the expanded SST and rising electricity tariffs.
Chin Teck Plantations achieved a record 3Q net profit of RM34.66 million, up 52.8%, on stronger palm product prices and sales volumes. It declared a 36 sen dividend, bringing total FY2025 payouts to 51 sen.
Dufu Technology saw a sharp 66.8% drop in 2Q net profit to RM2.80 million, hit by forex losses and rising costs, despite a 5% revenue increase. The company warned of ongoing risks from tariffs and global trade uncertainties.
DXN Holdings reported a 13.6% fall in 1QFY2026 net profit to RM73.91 million due to forex losses from a stronger ringgit, while revenue edged higher to RM479.1 million.
Tasco posted a 30.7% rise in 1Q net profit to RM9.19 million, driven by its international business segment, despite a 10.9% drop in revenue from weaker domestic operations.
United Malacca (UMCCA) is buying the remaining 17% stake in its Indonesian plantation unit for US$10 million (RM42.25 million) to gain full control and streamline operations.
Jati Tinggi secured a RM31.58 million subcontract for 11kV underground cable works in Selangor and the South Zone, bringing its total new contracts since December 2024 to RM370.78 million.
Focus Point expects a RM300,000 monthly increase in rental costs due to the expanded SST. The company plans to mitigate the impact by cutting costs and leveraging bulk procurement.
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