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.
Key Takeaway: Pharmaniaga Bhd is on track to exit its PN17 status by 1Q2026 following a successful regularisation plan, with MBSB Research upgrading the stock to a “buy” call and setting a target price of 32 sen . Pharmaniaga Bhd is expected to leave its financially distressed PN17 status by the first quarter of 2026, according to a note from MBSB Research . The brokerage upgraded its recommendation on the stock to “buy,” citing improved fundamentals and stronger growth prospects post-regularisation. The group’s turnaround strategy included a capital reduction and a large private placement , which brought in 19 new investors . As a result, Pharmaniaga’s issued shares ballooned from 1.441 billion to 6.557 billion , while major shareholders saw their stakes diluted from 55% to 44% . Despite the dilution, the move successfully recapitalised the company , providing it with a stronger balance sheet and healthier ca...