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.
TA Securities has urged the Malaysian government to explore the feasibility of establishing a second, larger-capacity renewable energy (RE) interconnection between Peninsular Malaysia and Singapore . This comes as the current 1GW interconnection is rapidly depleting , with only 100MW of capacity remaining for future use, according to the firm. Singapore plans to import up to 6GW of clean electricity over the next decade, and Malaysia’s current interconnection with Singapore reserves half of the capacity for grid balancing, while other portions are allocated for various projects, including Tenaga Nasional Bhd’s export and the Laos-Thailand-Malaysia-Singapore Power Integration Project (LTMS-PIP) . Given Singapore's increasing demand for clean energy , TA Securities sees a second interconnection as essential. The firm also highlighted YTL Power Bhd as a key beneficiary of potential RE exports to Singapore, given its existing operations in the market and a strong balance sheet ...