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.
Earnings Miss 1HFY2025 Core Net Profit : RM7.1m After adjustments (NRV write-down + onerous provision of RM22m). Only 29% of full-year forecast achieved , well below expectations. Key Issue : Earnings miss reflects weaker ASPs and thinner margins. Analyst Downgrades BIMB Securities Research : Cut rating from Neutral to Sell . Slashed earnings forecasts: FY2025: -48% FY2026: -68% FY2027: -72% Cited Thai sugar dumping risk after China banned liquid sugar imports, putting pressure on ASPs. MBSB Research : Downgraded from Neutral to Sell . Expects recovery delayed to FY2026 instead of FY2025. Pegged lower TP of RM0.71 (vs current price RM0.98). Warned of price war among AP players with excess inventory. Market Reaction Shares fell 1.5% to RM0.98 (Aug 26). YTD performance : -19%. MSM is one of only two refiners in Malaysia (the other is unlisted Central Sugars Refinery und...