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.
NH Foods Ltd , a joint venture partner of Lay Hong Bhd , has reduced its stake in the egg producer after disposing of 62.32 million shares —an 8.24% stake —in an off-market transaction on Wednesday. This sale lowers NH Foods' shareholding in Lay Hong from 13.06% to 4.82% , meaning the company is no longer a substantial shareholder. While the selling price was not disclosed, based on Wednesday’s closing price of 40 sen , the stake is valued at approximately RM24.93 million . Datuk Yap Hoong Chai , founder and executive chairman of Lay Hong, remains the largest shareholder with direct and indirect stakes totaling 32.07% . NH Foods and Lay Hong had formed a 49:51 joint venture in 2016 to produce halal food for export markets, but NH Foods exited the Malaysian market in 2023, selling its stake in the JV for RM1 . Lay Hong recently posted strong financial results for the first quarter of FY2025, with net profit increasing more than threefold to RM13.39 million , supported by govern...