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: Malaysia’s largest container port operator, MMC Port Holdings Bhd , has received regulatory approval for a Main Market listing that could raise around RM8.5 billion . The IPO will involve up to 30% of existing shares , with proceeds going to parent company MMC Corporation. MMC Port Holdings Bhd , the country’s biggest container port operator, has secured approval to proceed with its highly anticipated initial public offering (IPO) on Bursa Malaysia’s Main Market. The proposed listing, which must be completed within six months of approval, will involve a sale of up to 30% of existing shares . Importantly, all shares offered will come from parent company MMC Corporation Bhd , which is controlled by Tan Sri Syed Mokhtar Al-Bukhary . As a result, MMC Port itself will not receive any of the IPO proceeds. According to Bloomberg, the offering could raise as much as US$2 billion (RM8.5 billion) , making it one of the largest Malaysia...