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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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Gamuda Wins RM2.1b Contract to Build Hyperscale Data Centres for EcoWorld

Gamuda Bhd (KL:GAMUDA) has secured a  RM2.138 billion contract  through its engineering unit to construct hyperscale data centres for Eco World Development Group Bhd (KL:ECOWLD). Contract Details Client:  Quantum Alpha Sdn Bhd, a unit of EcoWorld. Scope of Works: Main structures of  two data centre blocks . Power substation  and  water reservoir . Related  infrastructure and facilities . Timeline:  Project begins  3Q2025 , targeted completion by  3Q2027 . Strategic Significance The award underscores Gamuda’s push into  digital infrastructure , a growth area aligned with rising demand for  cloud computing and AI . Comes shortly after Gamuda’s tie-up with  Gentari (Petronas’ clean energy arm)  to develop  1.5GW of solar + storage projects  aimed at powering hyperscale data centres. Follows another major win this month: a  RM1.13 billion highway project  in Sarawak via joint venture with Naim Holdings...
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Eco World Development - Profit and sales on track

Results track expectations ECW’s 1QFY10/16 net profit (+>100% YoY) was within our expectation but slightly below consensus. 4MFY16 actual sales are on track to meet its own sales target of MYR3b (excluding the overseas projects pending the listing of its associate company) for FY16. Potential enbloc sales at Bukit Bintang City Centre (BBCC) will lower the overall project risk. We maintain earnings forecasts, MYR1.67 RNAV-TP and BUY rating. Earnings driven by better margin and lower taxes ECW’s 1QFY10/16 net profit was MYR20.7m (>+100% YoY, +5% QoQ) accounting for 21%/18% of our and consensus full-year estimates. The strong YoY earnings growth was mainly driven by better operating margin and lower tax charges. EBIT margin improved by 2ppt YoY and QoQ to 7.8% on lower administrative and marketing expenses. As at end-Jan 2016, ECW’s net gearing stood at 0.46x, from 0.37x at end-Oct 2015. On track to meet its ambitious sales target ECW has locked in MYR607.8m in prop...
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