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.
Key Highlights: Keyfield International has secured two charter deals : A 4-month charter (plus a 1-month extension) for a third-party accommodation work boat (AWB) from Petronas Carigali . A 104-day extension for one of its own AWB vessels. Both jobs will begin in 3QFY25 . The daily charter rates (DCR) were not disclosed , but the shorter contract durations hint at a more cautious market , possibly putting slight pressure (up to 10%) on revenue rates. Market Outlook: Despite global economic uncertainty, local demand for offshore support vessels (OSVs) with <60mt bollard pull remains healthy. However, weaker oil prices could limit further industry recovery. The company will stay cautious and awaits more clarity from upcoming 2QFY25 results . Why Kenanga Likes Keyfield Strong foothold in Malaysia’s growing OSV sector. Young and well-equipped fleet (average 8 years old, DP2-rated). Selected as Petronas p...