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.
Elders Reports FY2024 Revenue, Earnings Decline; Launches $246M Equity Raising for Delta Agribusiness Acquisition
Key Takeaway: Elders Ltd faces profit and revenue declines for FY2024 but aims to bolster its business through the acquisition of Delta Agribusiness. Financial Highlights Earnings Per Share (EPS): Declined to AU$0.286 , down from AU$0.644 in FY2023. Below analyst expectations of AU$0.391 (Visible Alpha). Net Profit: Dropped 55% to AU$45.1 million from AU$100.8 million. Revenue: Fell 6% YoY to AU$3.13 billion , but beat analyst estimates of AU$3.01 billion . Dividend: Declared AU$0.18 per share , down from AU$0.23 last year. Payable Jan. 24, 2025 to shareholders on record as of Dec. 18 . Delta Agribusiness Acquisition Deal Value: AU$475 million. Consideration: Includes AU$190 million in new Elders shares issued at AU$8.52 per share to Delta shareholders. Delta's Stake in Elders: Post-acquisition, Delta shareholders will own 10.5% of Elders. Funding Plan Equity Raising: AU$246 million through a fully underwritten 1-for-5.1 entitlement offer . New shares priced at AU$7.85 ,...