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.
YTL Corp Bhd, a prominent integrated infrastructure developer in Malaysia, closed its financial year 2024 (FY2024) on a positive note, despite experiencing a slight dip in net profit for the fourth quarter ended June 30, 2024 (4QFY2024). The company reported a net profit of RM534.48 million for the quarter, a 2.5% decline from RM548.03 million in the same period last year, alongside a 10.2% drop in revenue to RM8.27 billion. Key Takeaways: Q4 Performance Decline : The decrease in YTL Corp's Q4 net profit and revenue was attributed to lower contributions from its construction, cement, and property investment segments. The construction segment saw reduced revenue due to less work completed on projects secured from external parties. The cement and building materials segment also reported lower sales, particularly in its domestic quarry and overseas cement divisions. Additionally, the property investment and development division recorded lower revenue due to the absence of a one-off pr...