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.
Higher Finance Costs, Weaker Revenue Impact Earnings Genting Bhd (KL:GENTING) reported a net loss of RM169.39 million for 4QFY2024 , reversing from a RM150.99 million profit a year earlier . The group's first quarterly loss since 4QFY2022 was driven by higher finance costs, net impairment losses, and increased losses from joint ventures and associates . Quarterly revenue fell 5.3% to RM6.88 billion due to weaker performance in the leisure and hospitality segment , exacerbated by the strengthening of the ringgit against key foreign currencies . Dividend Declared at Lower Payout Final dividend of 5 sen per share , down from 9 sen last year , bringing total FY2024 dividend to 11 sen per share , compared to 15 sen in FY2023 . Financial Performance Breakdown Adjusted EBITDA down 27% YoY to RM1.68 billion from RM2.29 billion . Finance costs rose 35.1% to RM513.36 million . Impairment lo...