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.
Shares of MBSB Bhd fell to a one-month low after the group reported FY2025 results that missed both house and consensus estimates. The stock dropped as much as 8% to 70 sen, erasing gains built over the past month. Market capitalisation stands at approximately RM5.8 billion. What Went Wrong According to BIMB Securities : FY2025 net profit fell 31% YoY to RM280 million Results met only 69% of forecasts Fund-based income declined 18% Credit cost rose to 55 bps (from 37 bps) Gross impaired loans ratio increased to 6.3% The earnings drag came from weaker operating income and higher impairment charges. While non-fund income surged nearly 76%, supported by government scheme funds and investment gains, it was insufficient to offset pressure from financing income and credit provisions. Cost-to-income ratio also rose to 57.9%. Money Master Take This is less about one weak quarter and more about asset quality direction. 1. Credit Quality Deterioration Is the Core Issue The rise ...