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.
Elders Reports FY2024 Revenue, Earnings Decline; Launches $246M Equity Raising for Delta Agribusiness Acquisition
Key Takeaway: Elders Ltd faces profit and revenue declines for FY2024 but aims to bolster its business through the acquisition of Delta Agribusiness. Financial Highlights Earnings Per Share (EPS): Declined to AU$0.286 , down from AU$0.644 in FY2023. Below analyst expectations of AU$0.391 (Visible Alpha). Net Profit: Dropped 55% to AU$45.1 million from AU$100.8 million. Revenue: Fell 6% YoY to AU$3.13 billion , but beat analyst estimates of AU$3.01 billion . Dividend: Declared AU$0.18 per share , down from AU$0.23 last year. Payable Jan. 24, 2025 to shareholders on record as of Dec. 18 . Delta Agribusiness Acquisition Deal Value: AU$475 million. Consideration: Includes AU$190 million in new Elders shares issued at AU$8.52 per share to Delta shareholders. Delta's Stake in Elders: Post-acquisition, Delta shareholders will own 10.5% of Elders. Funding Plan Equity Raising: AU$246 million through a fully underwritten 1-for-5.1 entitlement offer . New shares priced at AU$7.85 ,...