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: HE Group Bhd’s net profit jumped 32.38% in Q3FY2024 , fueled by strong contributions from higher-margin electrical equipment hook-up and retrofitting projects , despite a decline in revenue. Q3FY2024 Financial Highlights Net Profit: Rose to RM4.62 million , up 32.38% YoY from RM3.49 million in 3QFY2023. Revenue: Declined 25.4% YoY to RM58.9 million (from RM78.9 million), mainly due to reduced project deliveries in the power distribution system and other building systems segments. No Dividend Declared for the quarter. 9MFY2024 Performance Net Profit: Increased 24.46% YoY to RM10.33 million , supported by better profit margins and a RM760,000 rise in other income. Cumulative Revenue: Up 7.79% YoY to RM172.63 million , primarily driven by the electrical equipment hook-up and retrofitting segment , which grew significantly to RM42.34 million (from RM7.41 million). Revenue Breakdown: Power Distribution System: RM102.1 million (59.1% of total revenue, down sligh...