Latest news with #RM2.5bil
The Star
10 hours ago
- Business
- The Star
FBM KLCI ends higher, investors eye upcoming GDP release
KUALA LUMPUR: The FBM KLCI finished higher today, mirroring gains across regional markets as investors showed renewed confidence amid improving sentiment. However, dealers noted that cautiousness lingered ahead of key economic events, including the Statistics Department's upcoming release of advance GDP data for the second quarter on Friday and the looming tariff deadline. The FBM KLCI rose 9.44 points, or 0.62% to 1,520.94 after hitting an intraday high of 1,521.15. There were 547 gainers, 416 losers and 475 counters traded unchanged on the Bursa Malaysia. Turnover stood at 3.17 billion shares valued at RM2.5bil. Among the gainers, F&N rose 36 sen to RM29.02, Hong Leong Bank added 32 sen to RM19.30, Paragon gained 19 sen to RM2.87 and PETRONAS Chemicals climbed 13 sen to RM3.32. Malaysian Pacific Industries , the top loser on Bursa Malaysia, slid 38 sen to RM19.62. Kuala Lumpur Kepong lost 30 sen to RM20.16, Aeon Credit fell 17 sen to RM5.16 and Panasonic Manufacturing eased 14 sen to RM11. ACE Market debutant iCents Group jumped 41.67%, or 10 sen, to 34 sen, with 150.54 million shares traded. Stock market data showed foreign investors net sold RM173mil on Wednesday, while local institutions and retailers were net buyers at RM1mil and RM172mil, respectively. On the forex market, the ringgit was quoted at 4.2493 against the greenback, down 0.11%. It rose 0.02% against the euro to 4.9287, but fell 0.11% against the pound to 5.6941 and edged down 0.03% against the Singapore dollar to 3.3046. On the external front, Japan's Nikkei 225 climbed 0.6% to close at 39,901.19, while South Korea's Kospi rose 0.19% to end at 3,192.29. In contrast, Hong Kong's Hang Seng Index slipped 0.08% to 24,498.95. Meanwhile, Singapore's Straits Times Index advanced 0.71% to 4,161.43. In China, the CSI300 Index gained 0.68% to 4,034.49, and the Shanghai Composite Index added 0.4% to finish at 3,516.83.
The Star
08-07-2025
- Business
- The Star
FBM KLCI falls sharply on caution ahead of OPR decision, US tariff deadline
KUALA LUMPUR: The FBM KLCI fell sharply on Monday as weak market sentiment and caution ahead of key macroeconomic events drove a broad-based selloff, with losers outpacing gainers by nearly three-to-one. The FBM KLCI fell 12.65 points, or 0.82%, to close at 1,537.54 — just above its intraday low of 1,534.67. This marked its biggest single-day drop since May 22, when it declined 1.15%. All indices ended the day in negative territory. Market breadth was negative, with losers outpacing gainers by a ratio of 754 to 260, resulting in a market breadth of 0.34, indicating the bears were in control. Traded volumes stood at 3.6 billion shares, worth RM2.5bil. Dealers said market sentiment remained cautious, with most players likely to stay on the sidelines ahead of Bank Negara's decision on the overnight policy rate and the looming US tariffs deadline this week. As a result, they expect the key index to hover within a narrow range for now, as investors adopt a wait-and-see approach. Among the decliners on Bursa Malaysia, Nestle slid 42 sen to RM77.10, Malaysian Pacific Industries lost 38 sen to RM22.28, Allianz declined 30 sen to RM18.40 and F&N fell 26 sen to RM28.80. Carlsberg rose 28 sen to RM19.20, Ajinomoto gained 14 sen to RM13, Timberwell climbed 13.5 sen to 38 sen while Kuala Lumpur Kepong increased 12 sen to RM20.94. On the forex market, the ringgit rose 0.44% against the US dollar to 4.2405 and appreciated 0.01% against the Singapore dollar to 3.31511. Regional markets were mixed, with Japan's Nikkei 225 down 0.56% and Hong Kong's Hang Seng slipping 0.12%, while South Korea's Kospi rose 0.17%, China's CSI 300 fell 0.43%, and Shanghai Composite gained 0.02%.
The Star
07-07-2025
- Business
- The Star
‘JS-SEZ will benefit all Johor districts'
Building Johor's future: Onn Hafiz (centre) greeting members of the public at the launch of the Majestic Johor X Renggam Fiesta in Kluang. — Bernama KLUANG: All districts in the state, not just Johor Baru, stand to gain from the Johor-Singapore Special Economic Zone (JS-SEZ), says Mentri Besar Datuk Onn Hafiz Ghazi. He said all 10 districts in the state are undergoing developments in transportation, infrastructure, housing and tourism. 'Do not think that the benefits of the JS-SEZ will only be concentrated in the Johor Baru area. 'Under the JS-SEZ, all districts in the state will enjoy benefits because of all the ongoing developments that are happening statewide,' he said at the launch of the Majestic Johor X Renggam Fiesta at the Renggam TMIYC here yesterday. He highlighted the Johor Baru-Singapore Rapid Transit System Link, expected to begin operating on Jan 1, 2027, and the Gemas-Johor Baru electrified double-track rail system, as projects that will shorten the people's travel time significantly. Travel time using the ETS from Johor Baru to Renggam will take only 40 minutes, while Johor Baru to Kluang will take 45 minutes via the double-track rail system, he said. 'The journey from the city to Segamat, which usually takes two and a half hours to three hours, will be shortened to an hour and a half via the new rail system. All of these destinations will benefit from the JS-SEZ,' he added. While no official announcement on the date for the commencement of the ETS service has been made, it is likely that the service will only begin next year. Onn Hafiz also pointed out that the completion of the projects could help to elevate places like Layang-Layang, Renggam and Kluang into satellite towns to Johor Baru. At present, he said Seremban is a satellite town for the Klang Valley and towns like Layang-Layang, Renggam and Kluang have the potential to replicate the model. The mentri besar also said the state government has projected revenue collection of RM2.5bil by the end of this year. 'Last year, Johor collected our highest-ever revenue in history with a total collection of RM2bil. At the rate that things are going, we expect to collect RM2.5bil this year. 'Every ringgit from revenue collected will be channelled back to the rakyat,' he said, adding that this would be done via people-centric programmes and initiatives.
The Star
04-07-2025
- Business
- The Star
FBM KLCI closes slightly higher ahead of Trump's trade decision
KUALA LUMPUR: The FBM KLCI ended slightly higher on Friday, as investors remained cautious ahead of U.S. President Donald Trump's July 9 tariff deadline. Trump said his administration would begin sending letters to trading partners on Friday, outlining unilateral tariff rates that will take effect on Aug 1. The FBM KLCI closed 1.2 points higher, or 0.08%, at 1,550.19, after reaching an intraday high of 1,551.78. For the week, the benchmark index advanced about 1.4%. Winners and losers were closely balanced, with 489 gainers and 466 losers, while 509 counters were unchanged. A total of about 3.4 billion shares worth RM2.5bil changed hands. Genting Plantations was the top gainer, rising 22 sen to RM5.23, followed by NationGate, which climbed 11 sen to RM1.78, Heineken, which gained 10 sen to RM25.44, and Hong Leong Industries, which added 10 sen to RM13.52. Conversely, Nestle tumbled RM2.48 to RM77.52, Dutch Lady slipped 54 sen to RM29.14, PETRONAS Dagangan eased 40 sen to RM21.56, and Westports fell 22 sen to RM5.58. Meanwhile, the ringgit slipped 0.04% to 4.2242 against the US dollar but edged up 0.05% to 3.3154 against the Singapore dollar. Regional markets ended broadly lower, with losses in South Korea, Taiwan, Hong Kong, and Singapore outweighing modest gains in Japan and China. Among the key markets: Japan's Nikkei 225 gained 0.06% to 39,810.88; South Korea's Kospi lost 1.99% to 3,054.28; Hong Kong's Hang Seng Index fell 0.65% to 23,916.06; China's CSI 300 Index added 0.36% to 3,982.20; Taiwan's Taiex closed down 0.73% at 22,547.50 and; Singapore's Straits Times Index fell 0.18% to 4,012.21 points.
The Star
13-06-2025
- The Star
Facebook generated up to US$20bil in Asean ad revenue in 2024, RM2.5bil from Malaysia alone, says Fahmi
PUTRAJAYA: Social media platform Facebook is estimated to have generated between US$15bil to US$20bil (RM63.7bil-RM84.9bil) in online advertising revenue in the Asean region in 2024, says Datuk Fahmi Fadzil. The Communications Minister said in Malaysia alone, Facebook generated an estimated RM2.5bil. He said the overall figure included advertisements suspected of promoting scams and online gambling to about 670 million users of the platform in the Asean region. "This is the problem we face – many of the ads they display are scams promoting fake investments or so-called magical products on sale at very low prices – there's no control. "Just a few weeks ago, my team identified drug and vape (e-cigarette) sales activities within Facebook groups," he said during the ministry's monthly assembly on Thursday (June 12). Fahmi said that to date, Facebook had yet to cooperate with the government's social media platform licensing initiative enforced earlier in 2025. "They (Facebook) still refuse to be licensed under the licensing system we announced. They are unwilling to cooperate in several areas," he said. On Jan 1, the government officially enforced licensing under the Communications and Multimedia Act 1998, aimed at enhancing online safety, protecting users and strengthening regulatory oversight of Internet messaging service providers and social media platforms. The government's efforts did not stop there, as Parliament passed the Online Safety Act 2024 in December, which will be enforced soon. "With the enforcement of the Act, social media platforms like Facebook will be required to comply. "Issues such as paedophile groups and child sexual abuse material must be eliminated from these platforms and those involved must be brought to justice," he said. – Bernama
