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MARKET PULSE PM AUG 1, 2025 [WATCH]

MARKET PULSE PM AUG 1, 2025 [WATCH]

KUALA LUMPUR: News on stock, crypto and ringgit moves.
Bursa Malaysia ended on a positive note, supported by renewed investor confidence after the White House announced reduced tariffs on Malaysian exports.
Following the tariff clarity, the FBM KLCI is anticipated to trade within the range of 1,545 to 1,555 points next week, driven by clearer investor outlook.
Meanwhile, the ringgit weakened against the US dollar, closing at 4.2780.
In the cryptocurrency market, a downtrend was observed. Bitcoin slipped to RM494,244, while Ethereum traded lower at RM15,579.
Solana also declined, trading at RM721.
That wraps up today's Market Pulse.
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Anwar: Felda free to determine FGV's direction after delisting
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The Star

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Anwar: Felda free to determine FGV's direction after delisting

KUALA LUMPUR: The Federal Land Development Authority (Felda) can begin to independently determine FGV Holdings Bhd 's direction once the company completes its delisting process from Bursa Malaysia, which will commence on Aug 28, said Prime Minister Datuk Seri Anwar Ibrahim. The Prime Minister said that this move will enable Felda, together with its cooperative and settlers, to fully focus on the agency's original mission of safeguarding the rights, returns, and interests of the settlers. "We can proceed with the delisting starting Aug 28. This means Felda is no longer bound. Felda is a strength and can decide its own direction and provide assurances to the Federal Land Development Authority Malaysia Cooperative (KPF) so that the benefits and interests of the settlers remain the top priority. "As soon as this matter is settled, I, together with Felda chairman Datuk Seri Ahmad Shabery Cheek and colleagues, will ensure clear guidance from the government -- namely, to make sure FGV returns to Felda's original mission,' he said during the launch of the Mega 3D Carnival (MK3D) 2025 here today. Anwar added that the delisting of FGV is a result of Felda's efficient management, and the focus now must be on ensuring that Felda's projects are implemented smoothly in line with the settlers' needs. Earlier, the media reported that Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi announced that Felda now holds 92 per cent of the shares in FGV, paving the way for full ownership and restructuring of the company. In a filing with Bursa Malaysia on Tuesday, FGV announced that Felda has acquired 91.73 per cent of FGV's total issued shares. FGV's shares are expected to be suspended from trading five market days after the offer for all remaining shares closes on Aug 15. - Bernama

Malaysia-Indonesia Ambalat discussions a sign of friendship, says Anwar
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Malaysia-Indonesia Ambalat discussions a sign of friendship, says Anwar

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From struggle to legacy: Felda veteran recalls life on RM2.90
From struggle to legacy: Felda veteran recalls life on RM2.90

New Straits Times

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From struggle to legacy: Felda veteran recalls life on RM2.90

KUALA LUMPUR: The legacy of Felda's earliest settlers continues to resonate through the memories of its pioneering figures—among them, 84-year-old Md Nen Kasim. Though now in declining health, Md Nen remains mentally sharp, vividly recalling the hardship, resilience, and unity that marked the formative years of Felda. A former member of the Felda board of directors, Md Nen was one of its earliest settlers and a pivotal figure in shaping the agency's development. On July 7, 1977, he was awarded the Semai Felda Gold Medal, the highest honour in recognition of his contributions to the movement. In the late 1970s, Md Nen was also part of a historic delegation to England and the Netherlands with four other board members, Datuk Zainal Hasan, Mahmud Sarjono, Walid Makrifat, and Yeop Mahidin Mohd Sharif. The mission, led by the late Yeop Mahidin, aimed to defend Malaysia's palm oil industry amid aggressive campaigns favouring soybean oil in Europe. That pivotal effort helped strengthen global trust in Malaysian palm oil, solidifying its place as a cornerstone of the national economy. Md Nen is now the last surviving member of that delegation. "I am very proud to have been chosen to go to Europe. We defended palm oil on foreign soil. Today, it has become the backbone of the nation's economy," he told Mingguan Malaysia. Although he humbly describes his role as modest, Md Nen believes the struggles of early Felda settlers must never be forgotten, reminding Malaysians that Felda's success came through perseverance, sacrifice, and unity. "Look at how we remember the late Tan Sri P. Ramlee – we only truly appreciated him after he was gone. Don't let that be the fate of Felda's pioneers." Among his fondest memories was receiving the Semai Felda Gold Medal, followed by another gold medal in 1979, both symbols of his enduring service and recognition of the collective struggle of Felda settlers. Md Nen emphasises that Felda was never just a rural development project, but rather a legacy of Malay empowerment, one that should be honoured by every generation benefiting from its land schemes. "I still keep my Buku 555," he shared, referring to the small accounting notebook settlers used. "Back then, wages were only RM2.90 a day — but with that, we bought rice, sardines, and milk.

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