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.
Phillip Capital has started coverage of MN Holdings Bhd (KL) with a 'buy' rating at 97 sen, setting a target price of RM1.20. This target is based on a 20 times price-earnings multiple on the fully diluted calendar year 2025 earnings per share. Key Points: Strategic Positioning: MN Holdings is seen as a key proxy for Malaysia’s rising energy demand, owing to its successful track record with Tenaga Nasional Bhd (KL) projects and its strategic involvement in both solar and data centers (DCs). Growth Projections: Phillip Capital expects MN Holdings to achieve a three-year net profit compound annual growth rate (CAGR) of 49% from FY2023 to FY2026. This growth is driven by a record-high order book of RM448 million and margin expansion from an increased proportion of DC-related projects. Order Book and Prospects: Order Book Growth: The company’s order book prospects are expanding in line with Malaysia’s increasing energy demand. The tender book has surged nearly fourfold from RM20...