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.
2016 hasn't really been that great in the stock market but if you are looking for companies with strong fundamentals and balance sheet, Uchi Technologies Bhd might be the right one for you. Uchi Technologies Bhd is involved in original design manufacturing (ODM), specializing in the design of electronic control systems primarily for consumer and industrial electrical and electronic appliances industries (such as precision weighing scales and high end household appliances). The company had a bad start to 2016, falling by 9.8% to close at RM1.57 on January 29, the last trading day in January. This is in comparison with the FBM KLCI that had dropped by 1.5%. I think the recent drop in price makes the company at a rather attractive value for a long term buy. Uchi Technologies had a rough start in 2016 The company has a strong balance sheet, cash rich and zero debt. As of the latest quarter report that was released in November last year, the company had RM153.3 million in ca...