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.
HPP Holdings Bhd reported a 54.5% decline in net profit for the first quarter ended Aug 31, 2024 (1QFY2025), with profit falling to RM1.04 million from RM2.29 million in the same period a year ago. The drop was attributed to lower sales and a foreign exchange loss driven by a strengthening ringgit. Revenue for the quarter also fell by 12.4% to RM16.65 million , down from RM19.01 million , primarily due to weaker sales in the electronic and electrical (E&E) and sheath contraceptive sectors. Moving forward, HPP Holdings plans to focus on enhancing its production capabilities , improving product quality , and pursuing cost optimisation . Additionally, the company is actively seeking new business opportunities to expand its client base both domestically and internationally. With the rising global demand for sustainable packaging , HPP sees potential growth in its paper pulp moulded packaging products. HPP Holdings’ shares closed 1.1% lower at 43 sen , with a market capitaliz...