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.
KLCC (Holdings) Sdn Bhd (KLCCH) , a subsidiary of Petroliam Nasional Bhd (Petronas) , announced the acquisition of 486 acres of prime land in Bandar Malaysia. The land, previously a Royal Malaysian Air Force base, is located along Jalan Sungai Besi in Kuala Lumpur. The sale-and-purchase agreement, signed on October 4 , was only disclosed recently. While financial terms were not revealed, reports suggest the transaction could be valued at up to RM12 billion , as mentioned in The Edge Malaysia Weekly . Development Plans KLCCH aims to transform the area into: An international business hub , A liveable and inclusive city for the community. The development will be carried out over the long term based on commercial viability. KLCCH, already renowned for managing real estate like the Petronas Twin Towers and other properties in Kuala Lumpur City Centre (KLCC) and Putrajaya, is expected to replicate its expertise in this p...