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.
CAB Cakaran to Acquire Cargill Malaysia’s Animal Feed Unit for RM231M to Strengthen Poultry Operations
CAB Cakaran Corp Bhd (KL:CAB) will acquire Cargill Feed Sdn Bhd (CFSB) for RM231 million in cash to secure a cost-effective and reliable supply of animal feed for its more than 100 broiler and breeder farms across Peninsular Malaysia. Deal Structure: Purchase Price: RM231M (RM23.1M internal funds + RM207.9M bank loans) Seller: Cargill Holdings (Malaysia) Sdn Bhd Target: 100% stake in CFSB + 51%-owned subsidiary Desa Cargill Sdn Bhd Completion: Expected Q4 2025 Strategic Rationale: Internalising Feed Manufacturing: To ensure consistent quality, reduce dependency on external suppliers, and manage raw material price volatility. Capacity: CFSB produces up to 400,000 tonnes annually from plants in Westports, Butterworth, Melaka, and Sabah. Financial Impact: Pro forma EPS expected to rise from 10.76 sen to 12.98 sen . Financial Snapshot of CFSB (FY ended May 31, 2025): Revenue: RM390.96M PBT: RM22.75M Profit M...