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Market Daily Report: Bursa Malaysia Closes Higher On BNM’s OPR Decision, Wall Street Gains

KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
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Key Corporate Updates from Malaysia,

 Here’s a recap of Monday’s corporate highlights:

Sime Darby Property Bhd (KL:SIMEPROP)

  • Data Centre Lease Agreement: Signed a 20-year lease worth up to RM5.6 billion with Pearl Computing Malaysia Sdn Bhd.
  • Location: Facilities at Elmina Business Park, Klang Valley’s largest freehold industrial hub.
  • Strategic Move: Boosts recurring income and investment and asset management (IAM) segment, which contributed 3% of RM3.27 billion revenue in the first nine months of 2024.

Yinson Holdings Bhd (KL:YINSON)

  • Joint Venture with PTSC: Secured a 10-year contract worth up to US$416 million (RM1.8 billion) for an FSO vessel in Vietnam.
  • Timeline: Operations begin in 4Q 2026, with options for a five-year extension.

T7 Global Bhd (KL:T7GLOBAL)

  • Pan-Malaysia Contract: Awarded a five-year MCM and HUC contract by Jadestone Energy for Package B3, running until 2029.
  • Track Record: Third such contract for T7 Global, following previous awards from ExxonMobil and IPC Malaysia.

Pesona Metro Holdings Bhd (KL:PESONA)

  • Cyberjaya Condominium Project: Secured a RM181.8 million contract to build two 28-storey blocks comprising 606 units.
  • Order Book: Stands at RM2.3 billion across nine ongoing projects.

Datasonic Group Bhd (KL:DSONIC)

  • Home Ministry Contracts:
    • RM21.39 million for maintenance services.
    • RM59.85 million for supply of MyKad, MyTentera, and other cards.
  • Total Value: Combined RM81.24 million.

Willowglen MSC Bhd (KL:WILLOW)

  • Singapore Contract: Won a RM79.2 million contract from Singapore’s Public Utilities Board for SCADA and telemetry systems.
  • Duration: 8 years, from Dec 2024 to June 2032.

CapitaLand Malaysia Trust (KL:CLMT)

  • Acquisition: Purchased Elmina Logistics Hub for RM180 million.
  • Yield: First-year gross yield estimated at 6.8%, generating annual rent of RM12.3 million.
  • Portfolio Expansion: Logistics and industrial assets now form 6% of total portfolio, up from 3%.

Annum Bhd (KL:ANNUM)

  • PN17 Status: Working on resolving audit issues and submitting a regularisation plan within five months.
  • Background: Previously issued a disclaimer of opinion for FY2023 financial statements.

Sunway Bhd (KL:SUNWAY)

  • Share Sale:
    • Founder Jeffrey Cheah and Sungei Way Corp sold 100 million shares for RM485 million.
    • Cheah’s direct stake reduced to 9.98%, while Sungei Way’s stake dropped to 44.08%.
  • Strategic Sales: Earlier placements in January and May involved 150 million and 200 million shares, respectively.

Investor Takeaway

  • Strategic Moves: Sime Darby Property, Yinson, and CLMT are bolstering long-term income streams through targeted agreements and acquisitions.
  • Growth Opportunities: Pesona Metro and Willowglen’s contracts underline the construction and infrastructure sectors’ potential.
  • Cautionary Notes: Annum’s audit challenges and Sunway’s share sales may require careful monitoring for future impacts.
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