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: IOI Corp is forecasted to achieve a core net profit of RM280 million to RM320 million for 1QFY2025, driven by higher output, improved palm kernel prices, and stronger downstream profits . Securities expects IOI Corporation Bhd’s 1QFY2025 earnings to rise significantly, following the contribution of RM205.6 million from its associate Bumitama Agri in FY2024. This projection marks an increase from RM242 million in 4QFY2024 and would represent around 21%-25% of CIMB’s full-year profit forecast for IOI Corp. The forecast includes a positive forex gain of approximately RM380 million due to a stronger ringgit. CIMB Securities anticipates IOI Corp’s FY2025 revenue to reach RM11.05 billion , a growth from RM9.60 billion in FY2024, with a core net profit forecast of RM1.30 billion (earnings per share of 21 sen), reflecting 19.5% year-on-year growth . CIMB maintains its “buy” call with a target price of RM4.38 , supported by potential catalysts like rising crude palm oil (C...