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.
Key Takeaway: ANZ Group Holdings Ltd will slash about 3,500 jobs by September 2026 as part of CEO Nuno Matos’ restructuring drive, aimed at restoring regulatory trust, improving culture, and tightening risk management. Workforce Reduction Job cuts: ~3,500 employees, equal to 8% of ANZ’s 42,000 staff Contractors: Around 1,000 consultants and third-party roles to be reduced Restructuring charge: Estimated at A$560 million (US$369 million / RM1.56 billion) before tax, booked in H2 2025 The first wave of cuts has already started, targeting middle- and back-office roles in ANZ’s institutional banking division. CEO’s Strategy Matos, who took over in May 2025 from Shayne Elliott, is moving quickly to revamp the bank: Cultural reset: Focus on stopping non-priority work and improving risk management. Leadership changes: Senior exits include ex-retail chief Maile Carnegie...