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.
Visits to Genting Bhd's Resorts World Genting (RWG) have not yet returned to pre-pandemic levels, despite a stronger second-quarter performance, according to Phillip Capital. Revenue for the second quarter of FY2024 (2QFY2024) grew by 3%, and core net profit rose 15% year-on-year (y-o-y), supported by an increase in tourist visitations due to visa-free travel. Key Takeaways: Growth in Revenue and Profit : RWG saw hilltop visitations reach 5.9 million in 2QFY2024, an 11% y-o-y increase, with a significant number of tourists from Singapore. In the US, Resorts World Las Vegas recorded revenue of $218 million and EBITDA of $50 million. Overall, Genting’s EBITDA for 2QFY2024 rose 10% y-o-y, with an improved EBITDA margin due to reduced losses in investments. Improved Financial Performance : For the first half of FY2024, Genting's core net profit, excluding impairment and fair value losses, increased by 145% y-o-y to RM884 million, reaching 52% of Phillip Capital's full-year fore...