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.
In the news. According to the STARBIZ week on 4 June, Sendai is assessing a suitable course of action to be taken with regard to its 29.87% stake in Singaporelisted Technics Oil & Gas Ltd, which has lost almost 70% of its value amid downturn in the O&G industry coupled with a string of legal suits . Nevertheless, Sendai’s executive chairman and group managing director Tan Sri A.K. Nathan remains optimistic of its LT prospects given its strong tender book of RM22bn, of which RM10bn is for structural steel and construction projects and RM12bn for O&G jobs. According to HLIB Institutional research (a BUY rating with SOP TP of RM0.91), Sendai managed to amass over RM700m worth of new jobs in 1Q (orderbook now at a record RM2.2bn). This is a commendable sum as it already made up 41% of the full year amount in FY15 which was a record high of RM1.7bn. Some of the notable job wins this year include (i) KL118 tower, (ii) a mixed development in KL, (iii) Al Maryah Central M...