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.
HPP Holdings Bhd reported a 54.5% decline in net profit for the first quarter ended Aug 31, 2024 (1QFY2025), with profit falling to RM1.04 million from RM2.29 million in the same period a year ago. The drop was attributed to lower sales and a foreign exchange loss driven by a strengthening ringgit. Revenue for the quarter also fell by 12.4% to RM16.65 million , down from RM19.01 million , primarily due to weaker sales in the electronic and electrical (E&E) and sheath contraceptive sectors. Moving forward, HPP Holdings plans to focus on enhancing its production capabilities , improving product quality , and pursuing cost optimisation . Additionally, the company is actively seeking new business opportunities to expand its client base both domestically and internationally. With the rising global demand for sustainable packaging , HPP sees potential growth in its paper pulp moulded packaging products. HPP Holdings’ shares closed 1.1% lower at 43 sen , with a market capitaliz...