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.
Key Highlights: Tony Fernandes sees 2025 as a "rebuilding year" as Capital A restructures to exit PN17 status. Sale of AirAsia’s aviation business to AirAsia X (AAX) for RM6.8 billion is critical to resolving Capital A’s financial struggles. Regulatory approvals and court rulings pending , with a crucial hearing set for late March. Capital A seeks to cut costs, optimize routes, and restart 14 grounded planes to reduce cash burn. Saudi Arabia’s PIF rumored to invest RM1 billion in AirAsia Group Bhd (AAGB) as part of the restructuring deal. BigPay, Capital A’s fintech unit, is struggling, and a partner is sought to take over leadership. Tony Fernandes’ Vision: A Year of Rebuilding Capital A Bhd, the parent company of AirAsia , is at a crucial turning point in its financial recovery. CEO Tan Sri Tony Fernandes has laid out an aggressive plan to restore profitability, exit PN17 status , and rebuild the airline’s competitive edge in...