KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
Malaysia Corporate Round-Up: SkyWorld, Econpile, Vantris, Citaglobal, NexG, DXN, CIMB, Cahya Mata, Perak Transit, Bina Puri, Telekom & Scicom
Key Takeaways: Property expansion: SkyWorld, Citaglobal, Classita/NexG, and Bina Puri drive growth through new projects and land acquisitions. Governance & legal updates: Econpile and Vantris (ex-Sapura) clarify legal matters; CIMB announces senior leadership change. Strategic initiatives: DXN leverages luxury assets for distributor incentives; Perak Transit targets recurring revenue with smart bus stops. Partnerships: Scicom and Telekom Malaysia collaborate on AI-driven customer engagement. Property & Infrastructure Developments SkyWorld Development (SKYWLD): To acquire a 2.33-acre site in Ho Chi Minh City for RM136m. Plans a 40-storey tower with 1,200+ apartment units plus retail and service facilities. Citaglobal (CITAGLB): Exercised a RM90m land option in Pahang to independently develop a 247-acre industrial park via its property arm. Classita Holdings (CLASSITA → NexG Bina): Selling non-cor...