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: Hibiscus Petroleum's net profit plunged 51% in 1QFY2025 due to lower oil prices, reduced production volume, and a stronger ringgit . Hibiscus Petroleum Bhd reported a net profit of RM75.6 million for the quarter ended Sept 30, 2024, compared to RM154.3 million a year ago. Earnings per share dropped to 9.54 sen from 19.17 sen . Quarterly revenue fell 36.1% to RM477.4 million . Contributing Factors: Lower Selling Prices: Average selling price fell to US$83.55 per barrel , compared to US$96.94 in the same period last year. Production Decline: Production dropped 16.9% to 16,707 barrels of oil equivalent (boe) from 20,117 boe in 1QFY2024. Volume Reduction: Sales volume decreased by 17.9% , with 1.67 million boe sold versus 2.03 million boe previously. No Kinabalu Oil Sales: Crude oil sales from the Kinabalu assets were absent, with other assets in Peninsular Malaysia, North Sabah, and the UK also showing reduced volume and prices. Currency Impact: A strengthen...