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.
Poultry producer CAB Cakaran Corp Bhd (KL:CAB) expects to book its first earnings from Indonesia as early as next year , as its long-awaited joint venture with Indonesia’s Salim Group finally gains momentum. Managing director Chris Chuah said the venture — delayed for nearly a decade due to Covid-19 disruptions and political changes — is now on track, with plans to convert one of Salim’s existing factories to process halal poultry products . “Without having to build a new facility, production could start within months,” Chuah told The Edge . “We also don’t have a demand issue — Salim Group will handle that.” Fast Start, Low Capex Under the first phase of the five-year plan, the partners will invest US$10 million (RM45 million) , with operations slated to begin by 2Q 2026 . Salim Group — Indonesia’s largest conglomerate and owner of Indomaret’s 23,000-store network — will hold 70% , while CAB ...