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.
Margin Expansion on the Horizon Apex Securities has begun coverage on Elridge Energy Holdings Bhd (KL:ELRIDGE) with a ‘buy’ rating, projecting that the biomass fuel producer’s already strong net margin could rise from 12% in 2024 to nearly 14% by 2027 . The anticipated improvement is driven by a higher proportion of premium, green-certified biomass products , which command an estimated 15% price premium over standard palm kernel shells. Strong Sustainability Positioning The brokerage highlighted Elridge’s key sustainability certifications , which provide strong access to markets with strict compliance requirements, particularly Japan — a major buyer with robust demand for certified biomass. Elridge’s expansion plans in Malaysia are expected to position it well to capture this growth. Financial Performance and Valuation Elridge has maintained an average net profit margin of 12% over the past four quarters, outp...