Bursa Malaysia in the green at mid-afternoon on broad-based buying
At 3.02 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.42 points to 1,525.21 from Wednesday's close of 1,519.79. It opened 0.45 of a point better at 1,520.24.
The broader market was positive with 436 gainers outnumbering 374 decliners, while 457 counters were unchanged, 1,171 untraded and 102 suspended.
Turnover stood at 1.91 billion units worth RM1.21 billion.
Among the heavyweights, Maybank rose one sen to RM9.80, Public Bank was flat at RM4.30, Tenaga Nasional and IHH Healthcare gained two sen to RM14.26 and RM6.72, respectively. YTL Power advanced 17 sen to RM3.87.
As for the most active stocks, SNS Network fell 1.5 sen to 54.4 sen, Reservoir Link was down 1.5 sen to 21 sen, Green Ocean trimmed 2.5 sen to nine sen, while TWL added half a sen to three sen, and YTL Corp rose 13 sen to RM2.27.
On the index board, the FBM Emas Index climbed 38.41 points to 11,384.97, the FBMT 100 Index garnered 40.55 points to 11,168.95, and the FBM Emas Shariah Index advanced 32.92 points to 11,334.70.
The FBM 70 Index advanced 62.96 points to 16,293.06 and the FBM ACE Index ticked up 1.78 points to 4,460.75.
By sector, the Financial Services Index improved 30.58 points to 17,693.58, the Industrial Products and Services Index edged up 1.43 points to 151.64, the Plantation Index gained 13.80 points to 7,243.99, and the Energy Index added 6.40 points to 734.51. — Bernama
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Malay Mail
an hour ago
- Malay Mail
A footwear icon no longer forgotten: How Malaysia's Fung Keong shoes rose from the ashes, thanks to an indie publisher
KUALA LUMPUR, July 5 — If you ask younger generations today about their favourite sneaker or footwear brand, chances are they'll name Adidas or Nike — must-haves in most wardrobes. But few might know that decades before these global giants dominated the scene, Fung Keong was the go-to name in Malaysia, a homegrown staple known for its durable, rubber-soled canvas shoes that once defined everyday fashion from the 1920s through the 1990s. Now, after decades out of the spotlight, Fung Keong is making a comeback — revived by an indie publisher determined to reintroduce the iconic sneakers to a new generation. Did you know the brand has a long history tracing back to China before making its way to Malaysia, beginning with an entrepreneur named Fung Keong? Fung Keong shoes displayed at the Rabak-Lit booth during Kuala Lumpur International Book Fair 2025 in Kuala Lumpur May 25, 2025. — Picture by Raymond Manuel The man behind the brand Little is known about the man behind the brand, but Fung Keong — also known as Fung Poi-Fong and Fung Kwok Kee — was a Chinese entrepreneur from Wan Fou (now Yunfu) in Guangdong Province. He migrated to Seremban, British Malaya (now Malaysia) in 1902 at the age of 11, where he studied machinery and, within a decade, built a fortune in the rubber trade. In 1920, Fung Keong established the Fung Keong Rubber Manufactory in Canton (Guangzhou), producing canvas shoes with rubber soles, which quickly gained popularity across Asia for their affordability. Fung Keong shoes displayed at the Rabak-Lit booth during Kuala Lumpur International Book Fair 2025 in Kuala Lumpur May 25, 2025. — Picture by Raymond Manuel Fung Keong's Malaysian chapter and why the shoes disappeared In 1938, following the Japanese invasion of Canton, Fung Keong decided to relocate the entire Canton factory — including staff and equipment — to Klang, Selangor where the following year, in 1939, he formally incorporated Fung Keong Rubber Manufactory (Malaysia), marking the brand's official establishment as a manufacturer in Malaysia. From that point on, FK shoes became a symbol of affordable, everyday footwear for Malaysians, whether it was for someone starting a new job or a child heading to school for the first time, the brand was a trusted and familiar choice. The shoes remained popular through the 1980s and 1990s. However, according to Izzat Amir, a partner of the Fung Keong brand of today, the import of thousands of Honda vehicles into Malaysia during the 90s shifted market dynamics. 'Tyres started offering better profit margins than shoes,' Izzat explained. 'So the company made the decision to stop producing footwear and focus entirely on tyre manufacturing.' The business then operated under the name Fung Keong Rubber Manufactory Sdn Bhd, focused on tyre production, with no further involvement in the shoe industry — at least for a time. According to Izzat, after the original Fung Keong brand was closed, the shoe department was later revived under a different name. 'It started as All England, then changed to All America, which is still operating today,' he said. Fung Keong shoes displayed at the Rabak-Lit booth during Kuala Lumpur International Book Fair 2025 in Kuala Lumpur May 25, 2025. — Picture by Raymond Manuel The revival by indie publishing house Rabak-Lit Fung Keong shoes may have faded into nostalgic memory for many Malaysians, but it wasn't until 2022 that indie publishing house Rabak-Lit, under the leadership of Izzat, stepped in to rekindle the legacy through a collaboration with the brand. 'It actually started with our author, Nasir Jani, also the director of Kembara Seniman Jalanan, a popular Malaysian film in the 80s, who gave us a lot of insight into the history of these shoes. 'I also read a newspaper article by Datuk M Nasir, where he mentioned he always chose local shoes, especially FK sneakers,' said Izzat, who also has a special connection with the shoes. 'I couldn't afford expensive football boots growing up — Fung Keong was the best alternative. 'It wasn't just shoes; it was part of our life,' Izzat added. In this first revival phase, starting in 2023, all Fung Keong collaborations were with rock bands, actors and fashion designers, with the FK Action Nasir Jani being the first to be created. As for the purpose behind these collaborations, Izzat said it was to build trust and show people that these are the same as the original Fung Keong shoes they remember from 40 years ago. Many FK shoes have been created since, from FK Sneakers Kembara Seniman Jalanan M. Nasir, to FK Sneakers Keluang Man, and the upcoming FK SIAR Sneakers. 'Icons like Nasir Jani, the late Pyan Habib, and M. Nasir helped verify and vouch for us. 'Through them, people could see that Rabak-Lit truly brought back the original FK shoes — not just a rebranded version,' he added. The rights to the FK Sneakers currently belong to Rabak-Lit, and the journey to revive the legacy of the Fung Keong shoe line has only just begun. FK Sneakers booth set up by Rabak-Lit at Medan MARA. — Picture courtesy of Rabak-Lit Where to get the new FK Sneakers and what's next In the '80s and '90s, FK sneakers were widely available at corner stores, but that's no longer the case today. If you want to wear a piece of Malaysian history — and take a break from big brands — the revived Fung Keong sneakers are available at Rabak-Lit's store in Seremban, or you can contact them on social media to get a pair. Also, keep an eye out for Rabak-Lit booths at conventions — they're a great place to check out and buy the shoes in person. As for what's next for the brand Fung Keong, Izzat shared that their upcoming project is a Malaysian fashion exhibition, launching in November, celebrating styles from the 1980s. 'It will feature FK sneakers across the decades and run for a full year. 'Right now, I'm looking to buy back old shoes from collectors,' Izzat said. 'We're also searching for original shoe racks from the '80s and '90s.' These FK sneakers aren't just shoes — they're a symbol of heritage, reimagined for today, and with the right push, who knows? They might just go from a local icon to a global name.
The Star
2 hours ago
- The Star
Fulfil aircraft delivery, Airbus urged
Strengthening ties: Anwar, accompanied by Lombard, inspecting a guard of honour during an official ceremonial welcome at the Hotel National des Invalides in Paris. — Photo courtesy of Anwar's Facebook page PARIS: Malaysia has called for Airbus' commitment to deliver the A330neo aircraft promised to Malaysia Aviation Group (MAG) to ensure efficient operations, says Datuk Seri Anwar Ibrahim. 'I stressed the importance of this commitment,' said the Prime Minister, who met French Prime Minister Francois Bayrou here yesterday. It was reported that MAG ordered 20 A330neos and took out options for another 20 in 2022. Anwar said AirAsia also has confidence in French technology, as reflected in its commitment to acquiring several Airbus aircraft, a move that further strengthens aviation industry ties between the two nations. 'We discussed various strategic areas of cooperation, including high-value investments in aerospace, semiconductors and automotive, clean energy ventures, defence, education as well as technical and vocational training,' the Prime Minister said after the meeting. He added that Malaysia appreciates France's support in the country's energy transition efforts and economic transformation agenda, particularly through the active participation of firms such as ENGIE, Total and Thales. Anwar alexpressed confidence that Malaysia-France relations, with France being Malaysia's fourth-largest trading partner in the European Union, would continue to grow. 'I have extended an invitation to Prime Minister Bayrou to make an official visit to Malaysia to further deepen our strong ties,' he said. 'Prime Minister Bayrou and I later witnessed the exchange of three important documents that will strengthen Malaysia-France strategic cooperation in the fields of defence, economy and technology. 'The memorandum of understanding between Malaco and Carester marks a significant milestone in the development of Malaysia's rare earth industry in line with the country's ESG commitments and new energy initiatives,' said Anwar. The letter of offer to Thales LAS, he added, will enhance Malaysia's airspace surveillance capabilities through two new long-range radars. 'As for the collaboration between Matrade and Business France, it will boost bilateral trade promotion across strategic sectors such as aerospace, renewable energy and the digital economy.' Earlier, Anwar was accorded an official ceremonial welcome at the Hotel National des Invalides. He was received by Minister of the Economy, Finance, and Industrial and Digital Sovereignty Eric Lombard. The national anthems of both countries were played before Anwar inspected the guard of honour. 'Honoured to receive an official ceremonial welcome from the Government of France, a meaningful and dignified gesture that reflects the longstanding friendship and mutual respect between Malaysia and France,' he said. As the world navigates an increasingly complex global landscape, Malaysia remains committed to working with partners such as France to champion multilateralism, reinforce peace and stability, and build a more just and sustainable future for all, Anwar added.
The Star
2 hours ago
- The Star
‘Carbon tax will be gradual, not a barrier to investment'
Bilateral synergy: Anwar addressing the audience during a roundtable meeting in Paris with French captains of industry. — Bernama PARIS: The proposed carbon tax, to be finalised in several months, should not be considered a problem for investing companies, says Prime Minister Datuk Seri Anwar Ibrahim. He said the proposed tax would be carried out cautiously and gradually. 'We are finalising that in the next few months. 'I know about the trend of decarbonisation (which is) strong and compelling, but we have to be realistic. 'The proposed tax should not be seen as a problem at the expense of investing companies,' he said during a question and answer session at a roundtable meeting with French captains of industry. More than 42 representatives from French companies and 18 representatives from Malaysian companies attended the event. The French representatives had positive remarks about working in Malaysia, with several of them noting that they invested because they believed in the country. Anwar also said that Malaysia, which focuses on neutrality, is friendly to all including having excellent relations with China, adding that having economic fundamentals remains the core focus. 'We engage and respond to all. At the end of the day, peace and stability are important in carrying out business. We are in one of the most peaceful regions in the world and one with the fastest growing economies,' he said. Anwar also took time to speak with Canadian Prime Minister Mark Carney to congratulate him on the Liberal Party's recent electoral victory. 'I look forward to working closely with Prime Minister Carney and his new administration to strengthen the longstanding Malaysia-Canada partnership for the mutual benefit of our peoples,' he said. Malaysia, he added, remains steadfast in its commitment to strengthening bilateral relations with Canada across various sectors, including trade, investment and defence cooperation. 'I'm pleased with PETRONAS' continued involvement in the LNG Canada project, as it clearly symbolises strong cooperation in the energy sector,' he said. He called on Canada to reconsider visa exemptions for Malaysians, noting that both countries are Commonwealth members.
