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.
OMS Group, a global leader in telecommunications infrastructure solutions, has announced an investment of US$300 million (RM1.2 billion) to expand its submarine cable systems and terrestrial infrastructure, addressing the rising demand for digital connectivity worldwide.
This investment follows a capital infusion from global investment firm KKR last year, which supports OMS’ mission to enhance its network across key regions, particularly in Southeast Asia, while driving regional digital transformation efforts. The expansion will bolster subsea cable systems and backhaul infrastructure, providing essential connectivity solutions for businesses and organizations globally.
OMS Group CEO Ronnie Lim highlighted the importance of this investment in responding to the explosive growth of data centres, cloud services, and the high usage of existing cable systems. "We aim to be a one-stop shop for client needs across subsea, Cable Landing Stations (CLS), and terrestrial networks, beginning with the Asean region and eventually expanding to the Asia-Pacific market," Lim said.
This strategic move aligns with OMS' broader 'platformisation' strategy, which integrates both submarine and terrestrial infrastructure to deliver comprehensive services. Recent projects include Project MIST, an 8,100km intra-Asia subsea cable system, and the development of four cable landing stations through its subsidiary LitUp Network in Southeast Asia.
With these initiatives, OMS is positioning itself as a key player in the global telecommunications infrastructure landscape, offering scalable and sustainable connectivity solutions.
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