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.
Financial Performance & Growth Drivers Hap Seng Plantations Holdings Bhd (HSPLANT) posted a net profit of RM85.01 million in 4QFY2024 , a fourfold increase from RM20.69 million a year earlier . The sharp profit growth was driven by higher crude palm oil (CPO) and palm kernel (PK) selling prices, as well as increased CPO sales volume . Fair value adjustments of biological assets contributed RM24.4 million in gains , compared to a RM21.1 million loss in 4QFY2023 . Revenue & Dividend 4Q revenue surged 33.7% YoY to RM223.37 million from RM174.56 million . CPO prices rose 26.1%, while PK prices jumped 66.3% . CPO sales volume grew 4% , though PK sales declined 7% due to a lower kernel extraction rate . FY2024 net profit more than doubled to RM204.64 million , while revenue increased 12.7% to RM752.45 million . Declared a second interim dividend of 11 sen per share , bringing total FY2024 dividends to 12.5 sen , up from 6.8 sen in FY202...