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.
Luxury hotel Fontainebleau Miami Beach has raised $975 million through a commercial mortgage-backed security (CMBS) as part of a broader $1.2 billion refinancing package . The deal, which includes a $225 million mezzanine loan and $105 million in equity infusion from majority owner Jeffrey Soffer, totals $1.3 billion in new funding. Key Uses of Funds Refinancing $1.18 billion of existing debt, including an older CMBS and mezzanine loan. Repaying a $75 million construction loan for new convention center facilities. Covering approximately $40 million in closing costs . The refinancing, led by Goldman Sachs Group Inc. and JPMorgan Chase & Co. , underscores the continued ability of blue-chip properties to tap the private-label CMBS market. Iconic Property with Rich History Opened in the 1950s, Fontainebleau Miami Beach has been a backdrop for movies like Scarface and Goldfinger . The property, appraised at $1.72 billion , features luxury amenities such as pools, retail outlets...