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: Resolute Mining Ltd has agreed to a $160 million settlement with Mali's government to resolve a tax dispute and secure the release of its detained CEO and two employees. Resolute Mining Ltd (RSG.AU), an Australian gold miner, announced it will pay $160 million to Mali to settle claims related to taxes, customs levies, and offshore account management . The settlement includes an initial payment of $80 million , with the remaining $80 million to be paid in the coming months from existing liquidity sources. Details of the Settlement: The memorandum of understanding resolves current claims and establishes a framework for further negotiations on the long-term future of Resolute's operations in Mali. Operations remain unaffected , and site activities continue as normal. Further details will be disclosed once the final documentation is completed. CEO and Employee Detention: CEO Terence Holohan and two other employees were detained in Bamako , Mali, earlier this mont...