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.
The extension of a groundbreaking deal by Singapore to import hydropower from Laos has hit a snag due to disagreements over transmission through Malaysia and Thailand, according to regional government sources. Background: LTMS Project: The Lao PDR-Thailand-Malaysia-Singapore (LTMS) Project, signed in 2022, aimed to supply up to 100 megawatts (MW) of electricity from Laos to Singapore via Thailand and Malaysia. The project was hailed as a "historic" step towards reducing reliance on fossil fuels. Original Agreement: The initial agreement was valid for two years, ending on June 22, 2024. It included payment for transmission charges based only on the power purchased. Current Situation: Renewal Efforts: The power retail arm of Singapore's Keppel Ltd and Electricite du Laos (EDL) signed a renewal agreement on June 24. However, Singapore has yet to secure transmission agreements with Thailand and Malaysia. Disagreements: The key issue is the quantity of power to be purchase...