KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
Keppel Infrastructure Trust (KIT) reported a 31.2% y-o-y increase in Distributable Income (DI) to $119.4 million for 1HFY2025, supported by contributions from City Energy, IXOM, new acquisitions, and the divestment of Philippine Coastal Storage and Pipeline Corp. Distributions per unit (DPU): 1.97 cents (+1% y-o-y) Key Highlights: Growth drivers: City Energy & IXOM operations, strategic acquisitions, and value crystallisation from asset sales. Major acquisition: April 2025: 46.7% stake in Global Marine Group (GMG) for $122.3 million. GMG is a leading independent subsea cable solutions provider with long-term contracts, giving KIT exposure to the digital infrastructure sector. Asset recycling: Completed divestment of Philippine Coastal in March. Announced sale of 24.62% stake in Ventura Motors Pty. Ltd. to Samsung Asset Management for A$130 million (~$109 million), expected completion in 3Q2025. CEO K...