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.
Margin Expansion on the Horizon Apex Securities has begun coverage on Elridge Energy Holdings Bhd (KL:ELRIDGE) with a ‘buy’ rating, projecting that the biomass fuel producer’s already strong net margin could rise from 12% in 2024 to nearly 14% by 2027 . The anticipated improvement is driven by a higher proportion of premium, green-certified biomass products , which command an estimated 15% price premium over standard palm kernel shells. Strong Sustainability Positioning The brokerage highlighted Elridge’s key sustainability certifications , which provide strong access to markets with strict compliance requirements, particularly Japan — a major buyer with robust demand for certified biomass. Elridge’s expansion plans in Malaysia are expected to position it well to capture this growth. Financial Performance and Valuation Elridge has maintained an average net profit margin of 12% over the past four quarters, outp...