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 Highlights: IPO Exploration: Yes! Communities, a major US operator of manufactured-housing communities, is considering an initial public offering (IPO) in 2025. The listing could potentially raise $1 billion or more , according to insiders. Partnerships and Advisors: The company is backed by Singapore’s GIC Pte , a sovereign wealth fund. It is working with Goldman Sachs Group Inc. as a lead advisor and is expected to onboard additional underwriters in the coming months. Business Model: Yes! Communities operates nearly 300 manufactured-housing communities across the Southwest, Midwest, and Southeast US. Manufactured housing offers a hybrid model allowing residents to own pre-fabricated homes while leasing the land, appealing to both rental and ownership markets. Leadership: CEO Steven Schaub , a co-founder of Yes! in 2008, has been recognized by Goldman Sachs as one of the 100 most intriguing entrepreneurs of 2019 . Broader Context: Manufactured housing is gaining traction...