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.
GXS Bank Pte Ltd, the digital bank supported by Grab Holdings Ltd and Singapore Telecommunications Ltd (Singtel), has set an ambitious goal to achieve profitability by March 2027, focusing on doubling its loan book every six months. Key Takeaways: Target Market: GXS Bank targets financially underserved sectors, including gig economy workers and small businesses, primarily those transacting through the Grab app. This creates a valuable data source to assess creditworthiness. CEO's Vision: “We’re not competing for the same customer that the big bank is trying to get,” said GXS group CEO Muthukrishnan Ramaswami. “There are so many people who are underserved that there is enough money to be made by serving them.” Competition: GXS Bank faces stiff competition from Singapore’s established brick-and-mortar banks, DBS Group Holdings Ltd, Oversea-Chinese Banking Corp, and United Overseas Bank Ltd, which dominate the market. Financial Performance: GXS reported losses of S$152.1 million i...