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.
TGI Fridays, the iconic American casual dining chain, has filed for Chapter 11 bankruptcy protection in the Northern District of Texas, citing financial strain from the pandemic and an unsuccessful acquisition deal with UK-based Hostmore. Owned by TriArtisan Capital Advisors , TGI Fridays continues to operate its 39 US-based "Thank God it's Friday!" restaurants and has secured financing to support ongoing operations. Rohit Manocha, TGI Fridays’ executive chairman , attributed the company’s challenges to Covid-19 impacts and an unsustainable capital structure , adding that the restructuring would enable its locations to achieve full potential. In September, Hostmore withdrew from a deal to acquire TGI Fridays after being removed as the manager of TGIF Funding. This led to Hostmore’s financial troubles, closing 35 UK restaurants and cutting over 1,000 jobs. TGI Fridays emphasized that franchised locations in 41 countries remain unaffected by the bankruptcy and will conti...