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Market Daily Report: Bursa Malaysia Gives Up Earlier Gains To End Mixed

KUALA LUMPUR, Nov 19 (Bernama) -- Bursa Malaysia gave up earlier gains to end mixed today, amid a higher regional market showing, as property, construction, and healthcare counters attracted buying interests, while plantation, banking, and telecommunication stocks saw some profit-taking, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 1.70 points to close at 1,602.34 from yesterday’s close of 1,604.04. The benchmark index, which opened 0.86 of-a-point lower at 1,603.18, moved between 1,601.02 and 1,608.88 during the trading session. However, the broader market was mixed to higher, with gainers leading decliners by 565 to 438 while 502 counters remained unchanged, 961 untraded, and 14 suspended. Turnover narrowed to 2.83 billion units valued at RM2.08 billion versus 2.96 billion units valued at RM2.23 billion yesterday. Rakuten Trade Sdn Bhd equity research vice-president Thong Pak Leng said the benchmark index remained range-bound and it required a dec
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Malaysian Telecom Firm OMS to Revisit IPO Plans After KKR Investment

OMS Group, a Malaysian telecom infrastructure and subsea cable services company, is considering revisiting its initial public offering (IPO) plans within the next few years, according to its deputy CEO, Richard Sun. While no specific timeline or venue has been set, Sun mentioned that Malaysia remains a potential option for the listing.

The company's IPO plans were initially shelved last year after KKR, a global investment firm, invested $400 million (RM1.65 billion) in OMS as part of its expansion into digital infrastructure in Southeast Asia. The capital infusion helped OMS focus on its growth strategy, including securing $292.5 million in loans in June to expand its fleet and infrastructure.

OMS is also expanding its interconnect managed services (IMS), which include cable landing stations and subsea cable routes across Malaysia, Singapore, Indonesia, and Thailand. The company aims to expand into Vietnam and the Philippines and is positioning itself as a one-stop shop for connectivity in Southeast Asia. OMS expects the IMS business to significantly contribute to its revenue over the next five years.


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