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Market Daily Report: Bursa Malaysia Ends Higher In Line With Most Regional Markets

KUALA LUMPUR, Sept 20 (Bernama) -- Bursa Malaysia ended higher on Friday in line with most Asian markets, mirroring gains from Wall Street, where investors welcomed the US Federal Reserve's substantial interest rate cut. The FTSE Bursa Malaysia KLCI (FBM KLCI) rose by 3.17 points, or 0.19 per cent, to 1,668.82 at the close from Thursday's close of 1,665.65. It opened 5.03 points higher at 1,670.68, trading between 1,668.48 and 1,674.04 throughout the session. In the broader market, gainers outpaced decliners 732 to 468, while 465 counters were unchanged, 850 untraded and 32 suspended. Turnover swelled to 4.19 billion units worth RM5.97 billion, from Thursday's 3.99 billion units worth RM4.08 billion. UOB Kay Hian Wealth Advisors head of investment research, Mohd Sedek Jantan, noted the FBM KLCI's gains were led by utilities, logistics, and banking stocks, reflecting improved market sentiment. Additiona
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Princeton Digital Eyes $1 Billion Funding Round Amid Expansion Plans

Princeton Digital Group, a data centre operator backed by Warburg Pincus, is considering a private fundraising round to raise up to US$1 billion (RM4.26 billion), according to sources familiar with the matter.

The Singapore-based company is reportedly working with a financial adviser on a potential deal that may include both debt and equity components. The proceeds from this round are expected to be used for refinancing existing debt and supporting its expansion efforts across the region. However, deliberations are still in the early stages, and the firm could decide not to proceed with the fundraising.

Princeton Digital has ambitious growth plans, aiming to double the capacity of its data centres within three years to meet rising demand from global artificial intelligence (AI) developers. The company also plans to expand its workforce by adding over 300 employees in key markets such as Japan, Malaysia, Singapore, and India by the end of 2025.

Global investors are increasingly interested in digital infrastructure assets, which offer stable returns amid growing technological demand. Recent industry moves include Blackstone Inc.'s acquisition of Australian data centre operator AirTrunk for A$24 billion (US$16.1 billion) and KKR & Co Inc's investment in ST Telemedia Global Data Centres.

Established in 2017, Princeton Digital operates over 20 data centres across six countries, including China, Singapore, India, Indonesia, Malaysia, and Japan. The company has seen significant backing from Warburg Pincus, who co-founded the firm alongside its CEO, Rangu Salgame.

In 2022, Princeton Digital raised over US$500 million in a funding round led by Mubadala Investment Co PJSC, which contributed more than US$350 million. Existing shareholders, including Warburg Pincus and the Ontario Teachers’ Pension Plan Board, also participated. The funds were allocated to strengthen the firm's presence in key markets and accelerate expansion across Asia.

As the company positions itself for further growth, the potential new fundraising round reflects its strategy to capitalize on the burgeoning demand for digital infrastructure across the region.

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