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.
Paragon Globe Bhd has secured development rights for a 67.42-acre residential project in Iskandar Puteri, Johor , with a gross development value (GDV) of RM733.12 million . The agreement, struck between Paragon Globe Properties Sdn Bhd (PGPSB) and Iskandar Capital Sdn Bhd (ICSB), grants Paragon the rights to develop two prime freehold land parcels close to major roads, Jalan Ismail Sultan and Lebuh Kota Iskandar . Project Details The development will introduce 340 landed properties , including 324 semi-detached houses, two bungalows, and 14 bungalow land lots . Scheduled to begin in 2025, construction will span seven years , with a projected development cost of RM545.03 million , generating an estimated profit of RM188.09 million . As part of the deal, PGPSB will pay RM102 million to ICSB in installments, funded through internal resources and bank loans . This venture aligns with Paragon Globe’s strategy to address housing demand in Iskandar Puteri and support growth within the J...