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.
Atlan's Singapore-Listed Unit Objects to RM70M Compensation for Land Acquisition, Plans High Court Challenge
Atlan Holdings Bhd’s 75.53%-owned subsidiary , Duty Free International Ltd (DFIL), listed on the Singapore Exchange, plans to object to the RM69.9 million compensation offered for two pieces of land in Bukit Kayu Hitam, Kedah , which were acquired by Malaysia's Ministry of Home Affairs (KDN) for a road project. Following legal advice, DFIL will accept the compensation under protest and will file an objection in the High Court under Sections 37 and 38(1) of Malaysia's Land Acquisition Act 1960, DFIL’s executive director Lee Sze Siang stated in a regulatory filing. The land in question belongs to Cergasjaya Sdn Bhd and Cergasjaya Properties Sdn Bhd (CPPA) , two indirect wholly-owned units of Atlan, and is crucial for DFIL's duty-free business , which contributed 24% to its revenue for the financial year ending Feb 29, 2024. The oral compensation award of RM69.9 million was provided by the Kedah Department of Director General of Lands and Mines after an acquisition enquir...