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.
Adani Group has successfully secured a $207 million private credit loan to refinance debt for its North Queensland Export Terminal (NQXT) in Australia. The financing marks a significant recovery milestone for the Indian conglomerate after last year’s legal troubles. 💰 Key Loan Details 🔹 Loan Amount: A$330 million ( US$207 million ) 🔹 Lenders: King Street Capital Management & Sona Asset Management 🔹 Loan Term: Six years 🔹 Purpose: Refinance debt due in June 2025 📌 Why It Matters: Adani’s ability to secure new funding signals renewed investor confidence after its bribery scandal fallout in November 2024 . 💬 Industry insiders: "Adani’s stocks and bonds have largely recovered in value after last year’s steep declines." 🏗️ Adani’s Growing Private Credit Strategy 🔹 Adani has increasingly relied on private credit lenders to finance its...