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.
Permodalan Nasional Bhd. (PNB) , Malaysia’s state-owned asset manager, is considering selling its toll road subsidiary Projek Lintasan Kota Holdings Sdn. (Prolintas) in a deal that could be worth RM3 billion (US$705 million) . Key Highlights Divestment Target: 100% of Prolintas , which operates and maintains multiple urban expressways in Malaysia, especially in the Klang Valley . Current Status: PNB has appointed a financial adviser Reaching out to industry players and private equity firms to gauge interest No final decision — PNB may still retain the asset Listed Arm: Prolintas Infra Business Trust Bhd. PNB holds 51% stake Listed on Bursa Malaysia with a market value of RM1.1 billion Tech-Enabled Operations Prolintas has adopted AI and machine learning to enhance highway safety and operational efficiency — potentially increasing its attractiveness to strategic buyers or infrastructure funds....