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: United Overseas Bank (UOB) has agreed to roll over a HK$10 billion (US$1.3 billion / RM5.4 billion) loan tied to Shimao Group’s luxury Beacon Peak project, as Hong Kong’s prolonged property downturn forces lenders to extend credit rather than absorb losses. Loan Extension Details Borrower: Shimao Group Holdings Ltd (defaulted developer) Project: Beacon Peak luxury apartments near Kowloon Tong Loan size: HK$10 billion Original maturity: Sept 30, 2025 New terms: Extended for three years by UOB Earlier efforts to sell the loan to private credit investors — including Davidson Kempner Capital Management and Ares Management Corp — fell through. Property Sales Progress Beacon Peak launched sales in January 2025 . As of Sept 2, only 17 of 332 units sold in its first phase. Sale prices ranged from HK$13.4 million to HK$37 million per unit. The latest deal:...