KUALA LUMPUR, Dec 12 (Bernama) -- Bursa Malaysia’s key index closed higher today on bargain hunting, in line with positive investor sentiment across regional markets, consolidating at its highest level in more than two months — a level last seen on Oct 2, 2025. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 12.42 points, or 0.76 per cent, to 1,637.81, compared with Thursday’s close of 1,625.39. The benchmark index opened 2.83 points lower at 1,622.56, thereafter edged down to an early low of 1,622.03, before staging an uptrend to an intraday high of 1,640.36 in late trading. Market breadth was positive, with gainers trouncing decliners at 743 versus 387. Another 530 counters were unchanged, 1,108 untraded, and 16 suspended. Turnover increased to 3.09 billion units worth RM2.46 billion from 2.99 billion units worth RM2.35 billion on Thursday. Rakuten Trade Sdn Bhd vice-president of equity research Thong Pak Leng said the FBM KLCI ended higher on continued...
Malaysia Corporate Wrap | Genting Eyes RM6.7b Buyout, Malakoff Secures Mitsubishi Deal, HeiTech Contract Revised
Genting Bhd – Plans RM6.7 Billion Buyout of Genting Malaysia
Genting Bhd (KL:GENTING) has proposed to privatise and delist Genting Malaysia Bhd (KL:GENM) through a RM6.7 billion cash offer at RM2.35 per share, representing a 10% premium to its last traded price.
The buyout is conditional on increasing Genting’s stake above 50% from its current 49.36%. If successful, it would mark Genting Malaysia’s exit from Bursa Malaysia after nearly four decades.
The move coincides with Genting Malaysia’s bid for a US$5.5 billion casino licence in New York, with a decision expected by Dec 1 and licence awards by Dec 31.
Malakoff Corp – Secures Turbine Supply from Mitsubishi Power
Malakoff Corp Bhd (KL:MALAKOF) has signed a reservation agreement with Mitsubishi Power for two M701JAC gas turbines to support its planned 1,400MW gas-fired power plant in southern Peninsular Malaysia.
The agreement secures manufacturing and delivery slots, helping to mitigate global supply chain risks. Commercial terms remain confidential pending finalisation of the EPCC contract.
HeiTech Padu – Government Contract Value Raised to RM1.05 Billion
HeiTech Padu Bhd (KL:HTPADU) has accepted a revised contract value of RM1.05 billion for the National Integrated Immigration System (NIISe), up from RM892.2 million, marking an 18% increase.
No explanation was provided for the RM157.8 million adjustment. Under new terms, the company must furnish a RM10.52 million performance bond or top up RM1.6 million.
Rohas Tecnic – Wins RM28.7 Million Tenaga Nasional Project
Rohas Tecnic Bhd (KL:ROHAS) secured a RM28.67 million contract from Tenaga Nasional Bhd (TNB) for 275kV bulk supply works in Johor.
The eight-month project will be carried out by its 86.8%-owned unit, HG Power Transmission, and is expected to contribute positively to earnings in both the current and next financial years.
Paragon Globe – Buys Johor Land for Affordable Housing
Paragon Globe Bhd (KL:PGLOBE) is acquiring 11.84 hectares of land in Johor for RM11.48 million in cash from its major shareholders via Common Development (M) Sdn Bhd.
The related-party transaction supports the group’s affordable housing plans aligned with Johor Housing Development Corporation (PKPJ) guidelines under the state’s housing programme.
Omesti – Secures RM30 Million ICT Maintenance Contract
Omesti Bhd (KL:OMESTI), through its 49%-owned subsidiary Formis Network Services, has won a RM30.31 million, 36-month contract from the Ministry of Home Affairs.
The deal covers LAN and ICT security system maintenance for the Immigration Department’s headquarters and branches. This marks Omesti’s third contract announcement this year.
Citaglobal – Launches Solar-Ready Homes in Kuantan
Citaglobal Bhd (KL:CITAGLB) has launched D’Marina Bayu Phase 2B in Kuantan, featuring 120 solar-ready double-storey homes with smart home systems and fibre-to-home connectivity.
Part of the Residensi D’Marina township co-developed with Perbadanan PR1MA Malaysia, the project enables rooftop solar panels that can reduce electricity bills by up to 60%. Completion is scheduled for December 2026.
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