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.
Maintain Neutral with unchanged target price (TP) of RM0.39 TRC Synergy Bhd TRC Synergy (TRC) revealed that it might potentially nail more jobs this year, potentially from the MRT2 and LRT3 rail links, Pan Borneo and other highways such as SUKE and DASH. Granted, the competition will be stiff with most contractors bidding for the same jobs. However, we believe the Group’s experience in working on the earlier phases of LRT/MRT could give it an added advantage. FY15 was quiet in terms of job replenishments with only RM176m worth secured. Separately, it announced that it has secured a contract worth RM88m yesterday for a sub-contract to develop the new Kuala Lumpur Air Traffic Control Centre at KLIA and other locations, which would increase its outstanding orderbook to RM1.2bn. As for property, its Ara Damansara mixed development project is confirmed to be deferred to end-2016, with the development order expected by 3QCY16. Elsewhere, its property development project worth RM293m s...