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Market Daily Report: Bursa Malaysia Ends Higher On Positive Sentiment, CI Up 0.83 Pct

KUALA LUMPUR, Nov 6 (Bernama) -- Bursa Malaysia closed higher today, buoyed by supportive local economic policies, positive sentiment from strong technology stocks earnings, and a favourable United States (US) market outlook, an analyst said. Add to that, Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 3.0 per cent is poised to encourage domestic spending and investment. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 13.47 points, or 0.83 per cent, to close at its intraday high of 1,634.17, compared to Tuesday’s close of 1,620.70. The benchmark index opened 3.71 points higher at 1,624.41 and subsequently hit a low of 1,623.52 in early trade before trending upwards toward the closing session. Market breadth was positive, with advancers trumping decliners 849 to 352, while 428 counters were unchanged, 765 untraded, and nine suspended. Turnover expanded to 3.39 billion units
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Kerjaya Prospek Bags Two Contracts Totaling RM34.4 Million

 

Kerjaya Prospek Group Bhd has announced that its wholly owned subsidiary, Kerjaya Prospek (M) Sdn Bhd, has secured two new contracts worth a combined total of RM34.4 million.

The first contract, valued at RM16 million, involves piling and pile cap works for a development in Batu Kawan, Penang. The second contract, worth RM18.4 million, is for earthworks and structural works for a proposed development in Damansara Damai, Selangor. Both projects are scheduled to begin on Nov 5, 2024, with completion expected within 18 months.

Kerjaya's CEO Tee Eng Tiong expressed satisfaction with securing these contracts, adding that the company remains committed to delivering high-quality construction services. With 10 contracts secured so far in 2024, amounting to RM1.6 billion, Kerjaya's outstanding order book now stands at RM4.5 billion.

Kerjaya Prospek initially specialized in lighting products and kitchen cabinetry but has since expanded into building construction, project management, and property development.

At the time of writing, Kerjaya shares were up 1.9% at RM2.13, with a market capitalization of RM2.69 billion.

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