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.
Paragon Globe Bhd has secured development rights for a 67.42-acre residential project in Iskandar Puteri, Johor , with a gross development value (GDV) of RM733.12 million . The agreement, struck between Paragon Globe Properties Sdn Bhd (PGPSB) and Iskandar Capital Sdn Bhd (ICSB), grants Paragon the rights to develop two prime freehold land parcels close to major roads, Jalan Ismail Sultan and Lebuh Kota Iskandar . Project Details The development will introduce 340 landed properties , including 324 semi-detached houses, two bungalows, and 14 bungalow land lots . Scheduled to begin in 2025, construction will span seven years , with a projected development cost of RM545.03 million , generating an estimated profit of RM188.09 million . As part of the deal, PGPSB will pay RM102 million to ICSB in installments, funded through internal resources and bank loans . This venture aligns with Paragon Globe’s strategy to address housing demand in Iskandar Puteri and support growth within the J...