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.
Malaysia Corporate Wrap | Genting Eyes RM6.7b Buyout, Malakoff Secures Mitsubishi Deal, HeiTech Contract Revised
Genting Bhd – Plans RM6.7 Billion Buyout of Genting Malaysia Genting Bhd (KL:GENTING) has proposed to privatise and delist Genting Malaysia Bhd (KL:GENM) through a RM6.7 billion cash offer at RM2.35 per share , representing a 10% premium to its last traded price. The buyout is conditional on increasing Genting’s stake above 50% from its current 49.36%. If successful, it would mark Genting Malaysia’s exit from Bursa Malaysia after nearly four decades. The move coincides with Genting Malaysia’s bid for a US$5.5 billion casino licence in New York , with a decision expected by Dec 1 and licence awards by Dec 31 . Malakoff Corp – Secures Turbine Supply from Mitsubishi Power Malakoff Corp Bhd (KL:MALAKOF) has signed a reservation agreement with Mitsubishi Power for two M701JAC gas turbines to support its planned 1,400MW gas-fired power plant in southern Peninsular Malaysia. The agreemen...