KUALA LUMPUR, May 31 Bursa Malaysia bucked the trend in most major regional markets to close lower today on continued selling in selected heavyweights including banking counters, ahead of the total lockdown tomorrow, but losses were cushioned by buying in glove counters. At 5pm, the benchmark.
Bursa bucks regional trend to end lower as investors brace for full lockdown 31 May 2021 / 19:21 H.
KUALA
LUMPUR: Bursa Malaysia bucked the trend in most major regional markets to close lower on Monday on continued selling in selected heavyweights including banking counters, ahead of the total lockdown tomorrow, but losses were cushioned by buying in glove counters.
At 5 pm, the benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) fell 10.89 points to close at 1,583.55 versus 1,594.44 at Friday’s close.
The index opened 23.4 points lower at 1,571.04 and moved between 1,568.47 and 1,585.97 throughout the day.
Market breadth was negative with losers thumping gainers 843 to 273, while 354 counters were unchanged, 712 untraded, and 58 others suspended.
and KPower Bhd.
Advancecon rose 5.13%, or two sen to 41 sen, Solarvest added 1.07%, or three sen, to RM2.84 and MK Land advanced 21.43%, or 4.5 sen to 25.5 sen.
Tenaga added two sen to RM10.82, Uzma rose 8.5 sen to 84 sen and KPower gained five sen to RM2.270.
Last Friday, the Energy Commission (EC) announced the list of 30 shortlisted bidders of the LSS4, totalling 823.06MW out of the offered 1,000MW.
The EC shortlisted plant capacities in two packages, of which package P1 to generate 323.06MW (price range from RM0.1850/kWh to RM0.2481/kWh) and package P2 to generate 500MW (price range from RM0.1768/kWh to RM0.1970/kWh).
), posted net profit of RM9.25mil in the second quarter ended Dec 31,2020, a jump of nearly 400% from RM1.86mil a year ago.
In its announcement on Monday, it reported its revenue surged by 560% to RM90.06mil from RM13.63mil. Earnings per share were 11.68 sen compared with 2.44 sen. It declared an interim dividend of 2.26 sen per share.
KPower said the construction related activities recorded a significant increase due to engineering, procurement, construction and commissioning (EPCC) activities mainly in Lao and Malaysia and other construction related activities in Malaysia.
As for its property development and investment segment, it recorded a revenue of RM3.95mil based on the progress of completion during the period for the units sold.
(SCIB), which had recently become a billion ringgit market capitalisation company, is aiming to double its size in the next 12 months.
The construction outfit, which is controlled by Datuk Mohd Karim Abdullah, (pic) is eyeing to take up bigger roles that include bidding for bigger infrastructure projects, embarking on mergers and acquisitions (M&As), as well as becoming project owners.
Karim acknowledged that while the Covid-19 pandemic posed challenges to the construction sector, he is confident SCIB would be able to achieve 20% to 30% revenue and profit growth this year compared with 2020. This will be driven by its strong order book and new technology adoption that will improve its profit margins.