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.
Key Highlights: IPO Exploration: Yes! Communities, a major US operator of manufactured-housing communities, is considering an initial public offering (IPO) in 2025. The listing could potentially raise $1 billion or more , according to insiders. Partnerships and Advisors: The company is backed by Singapore’s GIC Pte , a sovereign wealth fund. It is working with Goldman Sachs Group Inc. as a lead advisor and is expected to onboard additional underwriters in the coming months. Business Model: Yes! Communities operates nearly 300 manufactured-housing communities across the Southwest, Midwest, and Southeast US. Manufactured housing offers a hybrid model allowing residents to own pre-fabricated homes while leasing the land, appealing to both rental and ownership markets. Leadership: CEO Steven Schaub , a co-founder of Yes! in 2008, has been recognized by Goldman Sachs as one of the 100 most intriguing entrepreneurs of 2019 . Broader Context: Manufactured housing is gaining traction...