Bursa Opens Slightly Higher As iCents Leads Active Trades
At 9.04 am, the benchmark FBM KLCI edged up 1.77 points to 1,513.27, reflecting cautious optimism amid mixed regional sentiment. Broader market indices also opened in positive territory, with the FBM 70 rising 0.15% to 16,546.64 and the FBM EMAS advancing 0.11% to 11,383.32.
Leading the most active list was iCents, which saw robust interest in its ACE Market debut. The stock traded at RM0.280, up 16.7% from its IPO price of RM0.24, with over 544 million shares exchanging hands within minutes of market opening.
Meanwhile, other actively traded stocks included TWL Holdings, Esceram, and NexG, though most were flat or saw minor movements.
Investors are watching global markets closely amid ongoing uncertainty over US interest rate policy and China's slower-than-expected economic recovery, which continues to influence short-term sentiment across Asia. Related
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KUALA LUMPUR: Shares in mechanical and civil engineering services firm Enproserve Group Bhd jumped 8.33% in a strong start to its first day of public-listed trading on the ACE Market of Bursa Malaysia. The company, which had raised RM50.4mil via an initial public offering (IPO) to fund its expansion, was bought up to 26 sen a share in pre-opening trade, two sen higher than its float price. As at 10am, the share had risen four sen or 16.67% above its IPO price to 28 sen a share after 44.68 million shares traded, making it the second most active stock on the Malaysian market. Of the RM50.4mil raised from the public issue, Enproserve has allocated RM23.68mil or 47% towards capital expenditure including RM9.16mil for new machinery and equipment, RM9mil for lorries and a mobile crane, and RM5.5mil to set up a crane depot facility. It said this is to better serve its ongoing and upcoming contracts without denting margins, and to reduce reliance on leasing. Another RM11.65mil or 23% from the IPO proceeds has been set aside for the repayment of bank borrowings, which is expected to reduce the group's net gearing ratio from 1.07 times to 0.50 times. The group has also earmarked RM10mill or 20% of the proceeds for working capital, while the remaining RM5.03mil or 10% will be used to cover listing expenses. On Wednesday, Enproserve reported a net profit of RM4.17mil on revenue of RM46.78mil, and an earnings per share of 0.5 sen for the first quarter ended March 31, 2025. There are no comparative results from the previous year given this is the company's first interim financial report announced in compliance with Bursa Malaysia's listing requirements.
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KUALA LUMPUR: Bursa Malaysia opened higher today, tracking Wall Street's overnight positive performance, boosted by improved economic data and quarterly earnings reports that exceeded consensus expectations. At 9.11am, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 5.49 points, or 0.36 per cent, to 1,526.43 from Thursday's close of 1,520.94. The benchmark index opened 2.03 points higher at 1,522.97. The broader market was positive, with gainers outpacing decliners 260 to 95, while 267 counters were unchanged, 1,836 untraded, and eight suspended. Turnover stood at 187.29 million shares worth RM128.20 million. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the United States' 10-year yield eased slightly to 4.453 per cent. "Over in Hong Kong, the Hang Seng Index ended marginally lower as traders are sidelined while waiting for fresh catalysts," he told Bernama. Back home, he said the FBM KLCI finally rebounded to above the 1,520 mark, possibly buoyed by stock accumulation by local institutions following days of downtrend. "For today, we expect the index to hover within the 1,515-1,525 range," he added. Among the heavyweight counters, Maybank and IHH Healthcare were 2.0 sen higher each at RM9.55 and RM6.55, respectively. Public Bank increased 1.0 sen to RM4.26, CIMB perked up 7.0 sen to RM6.57, and Tenaga Nasional reduced 4.0 sen to RM13.74. In active trade, ACE debutant Enproserve Group was 5.5 sen higher at 29.5 sen, NexG and Zetrix AI inched up half-a-sen each to 49.5 sen and 94 sen, respectively. KHPT added 1.5 sen to 13.5 sen, and Gamuda rose 12 sen to RM5.27. On the broader index board, the FBM Emas Index advanced 49.94 points to 11,475.11, the FBMT 100 Index climbed 49.74 points to 11,238.11, the FBM Emas Shariah Index appreciated 48.50 points to 11,522.47, the FBM 70 Index jumped 114.12 points to 16,658.16, while the FBM ACE Index ticked up 10.39 of a point to 4,646.37. By sector, the Financial Services Index put on 45.47 points to 17,347.82, the Energy Index edged up 2.16 points to 741.27, the Plantation Index rose 16.62 points to 7,447.16, and the Industrial Products and Services Index strengthened 0.47 of a point to 154.46.
