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 Takeaway: HE Group Bhd’s net profit jumped 32.38% in Q3FY2024 , fueled by strong contributions from higher-margin electrical equipment hook-up and retrofitting projects , despite a decline in revenue. Q3FY2024 Financial Highlights Net Profit: Rose to RM4.62 million , up 32.38% YoY from RM3.49 million in 3QFY2023. Revenue: Declined 25.4% YoY to RM58.9 million (from RM78.9 million), mainly due to reduced project deliveries in the power distribution system and other building systems segments. No Dividend Declared for the quarter. 9MFY2024 Performance Net Profit: Increased 24.46% YoY to RM10.33 million , supported by better profit margins and a RM760,000 rise in other income. Cumulative Revenue: Up 7.79% YoY to RM172.63 million , primarily driven by the electrical equipment hook-up and retrofitting segment , which grew significantly to RM42.34 million (from RM7.41 million). Revenue Breakdown: Power Distribution System: RM102.1 million (59.1% of total revenue, down sligh...