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Market Daily Report: Selective Buying Of Defensive Stocks Lifts Bursa Malaysia Higher At Close

 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.
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UOA Development 2QFY2025 Earnings

  Headline Numbers Net Profit :  RM91.71m  (+50% YoY) EPS :  3.5 sen Revenue :  RM130.16m  (+31% YoY) 1H2025 Net Profit :  RM165.66m  (+50% YoY) 1H2025 Revenue :  RM282.27m  (+67% YoY) Key Drivers Progressive billings  from 4 projects: Bamboo Hills Residences Aster Hill Laurel Residence Medical centre in Bangsar South New property sales : RM413m (mainly from Bamboo Hills, Laurel, Aster Hill & Duo Tower) Unbilled sales : ~RM888m (strong earnings visibility ahead). Other Highlights No dividend  declared this quarter. Stock performance : +2 sen to  RM1.77  at midday (market cap:  RM4.7b ). Takeaway UOA Development continues to post strong double-digit growth, underpinned by  healthy new sales and RM888m unbilled sales  ensuring forward revenue visibility. The group is leveraging  prime projects in Bangsar South & city fringe locations  to sustain momentum.
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Brokers Report: UOA Development Bhd - Sales Beat Expectations

Upgrade to outperform with an unchanged target price (TP) of RM2.54 9M16 CNP of RM278m was within expectations while sales surprised on the upside at RM1.15b (96% FY16E target). No dividends as expected. Being the only developer to enjoy pure exposure in KL while rolling out a pipeline of urbanbased affordable priced products will provide it an edge to generating stronger sales. Furthermore, this net cash developer offers an attractive yield of 6.3%. Upgrade to OUTPERFORM with  unchanged TP of  RM2.54. Sales beat expectations.  9M16 CNP of RM278m was within expectations at 75% of streets’ and 71% of our FY16E estimates. 9M16 sales was at RM1.15b (+62% YoY) which exceeded our expectations as it comes in at 96% of our FY16E target of RM1.20b; main drivers were United Point@Kepong, Sentul Point and Danau Kota. No dividends announced, as expected. Lower billings compensated by superior margins.  After stripping out its FV adjustments of RM55.5m, 3Q...
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