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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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GIC, SoftBank Weigh Exit From Vietnamese Fintech VNLife at $1B Valuation

Key Takeaway: GIC Pte Ltd and SoftBank Vision Fund 1 are exploring the sale of their stakes in Vietnamese fintech VNLife, with a potential transaction valuing the company at US$1 billion (RM4.21 billion) or more, according to Bloomberg.

Potential Stake Sale

  • GIC and SoftBank Vision Fund 1 have engaged a financial adviser to explore strategic options.

  • Early discussions include outreach to potential investors to gauge interest.

  • Deliberations remain at an early stage, and no deal is guaranteed.

Company Profile

  • Founded: 2007

  • Presence: Vietnam, Singapore, Myanmar, Cambodia

  • Core Asset: VNPay, a leading digital payments platform in Vietnam

  • Funding history:

    • 2021: Raised US$250M+ in a round led by General Atlantic and Dragoneer Investment Group.

    • 2019: Raised US$300M from GIC and SoftBank Vision Fund 1.

Market Context

Vietnam has emerged as one of Southeast Asia’s fastest-growing fintech hubs, driven by:

  • Rising digital payments adoption

  • Expanding e-commerce sector

  • Supportive demographics, with a young, mobile-first consumer base

If completed, the transaction could mark one of the region’s more notable secondary stake sales in fintech, reflecting investors’ focus on liquidity and portfolio rotation amid tighter global funding conditions.

Next Steps

Representatives of GIC and SoftBank declined to comment. The process is ongoing, with investor appetite and valuation expectations set to determine whether a deal materialises.

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