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New Straits Times
7 days ago
- Business
- New Straits Times
Bursa Malaysia rebounds, takes lead from Wall Street
KUALA LUMPUR: Bursa Malaysia rebounded from two consecutive days of losses to open higher on Thursday, with buying interest emerging, tracking the lead from Wall Street's overnight performance. At 9.10am, the FTSE Bursa Malaysia KLCI (FBM KLCI) gained 4.99 points, or 0.33 per cent, to 1,516.49 from Wednesday's close of 1,511.50. The benchmark index opened 0.39 points higher at 1,511.89. The broader market was positive, with gainers outnumbering decliners 180 to 107, while 218 counters were unchanged, 1,952 untraded, and eight suspended. Turnover stood at 176.48 million shares worth RM91.94 million. Malacca Securities Sdn Bhd said overnight Wall Street session saw a gradual recovery of buying interest, shrugging off hotter-than-anticipated inflation numbers and uncertain trade policies following the recent announcement that United States Federal Reserve chair Jerome Powell has been fired. "We also favour selected technology stocks, following the positive developments in global chip export policies. "For a more defensive approach and in light of Bank Negara Malaysia's recent overnight policy rate cut, we continue to favour real estate investment trusts (REITs), as their dividend yields offer an attractive premium against government bonds," it said in a note today. Among the heavyweight counters, Maybank gained four sen to RM9.57, Public Bank went up one sen to RM4.24, and Tenaga Nasional added six sen to RM13.74. CIMB and IHH Healthcare were flat at RM6.50 and RM6.52, respectively. In active trade, ACE debutant iCents Group was five sen higher at 29 sen, Nationgate rose three sen to RM1.51, Tan Chong Motors went down two sen to 77 sen, while NexG and TWL both remained unchanged at 48.5 sen and three sen, respectively. On the broader index board, the FBM Emas Index advanced 31.97 points to 11,403.0, the FBMT 100 Index climbed 32.39 points to 11,165.04, and the FBM Emas Shariah Index appreciated 34.50 points to 11,438.45. The FBM 70 Index inched up 29.23 points to 16,550.62, while the FBM ACE Index inched down 0.26 of a point to 4,581.82. By sector, the Financial Services Index increased 40.87 points to 17,284.63, the Energy Index edged down 1.31 points to 734.36, and the Plantation Index eased 0.54 of a point to 7,406.25. The Industrial Products and Services Index grew 0.34 of a point to 152.97.
New Straits Times
02-07-2025
- Business
- New Straits Times
Malaysian diaspora vital asset on global stage, says Anwar
ROME: Datuk Seri Anwar Ibrahim said Malaysians living across the globe are considered a valuable asset to the nation. He said Malaysian diaspora acts as unofficial ambassadors, carrying the nation's name onto the international stage. "Therefore, I urge them to continue seizing every opportunity and avenue to strengthen their knowledge, skills and networks, so they can contribute back to the country," he said at a gathering with the Malaysian diaspora residing in Italy, here on Tuesday. During the event, Anwar also took the opportunity to share various initiatives, policies and efforts of the Madani government in championing the welfare of the people and the country's future direction amid global geopolitical and geoeconomic uncertainties. The event was part of his official visit to Italy at the invitation of his counterpart, Giorgia Meloni. Accompanying him were Foreign Minister Datuk Seri Mohamad Hasan, Transport Minister Anthony Loke; Agriculture and Food Security Minister Datuk Seri Mohamad Sabu; Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz; and Defence Minister Datuk Seri Mohamed Khaled Nordin. Last year, trade between Malaysia and Italy recorded a two per cent increase to RM14.61 billion (USD3.18 billion) compared to 2023. From January to May this year, trade continued to show positive performance, rising by 3.3 per cent to RM6.50 billion (USD1.48 billion) compared to the same period in 2024. Italy is Malaysia's fifth-largest trading partner among European Union countries and the third-largest importer of Malaysian palm oil from the bloc for 2024.
New Straits Times
26-06-2025
- New Straits Times
Former Dewan Negara deputy speaker charged over Range Rover bribe
AYER KEROH: A former Deputy Dewan Negara Speaker was charged in the Sessions Court here today with receiving a Range Rover Sport as gratification from a company director. Datuk Seri Mohamad Ali Mohamad, 61, pleaded not guilty after the charge was read out before Judge Elesabet Paya Wan. According to the charge, Mohamad Ali, as the managing director of a development company, corruptly received the Range Rover Sport from a company director with a "Datuk" title. The gratification was an inducement to award the company subcontracting work related to an 89.3ha reclamation project in Melaka. The contract was for the extraction, transportation, and unloading of sea sand at RM6.50 per cubic metre. The offence was allegedly committed at the company's office in Taman Kota Syahbandar in June 2015. Mohamad Ali was charged under Section 16(a)(A) of the Malaysian Anti-Corruption Commission (MACC) Act and is punishable under Section 24(1) of the same Act. If convicted, he faces a maximum imprisonment of 20 years and a fine of not less than five times the value of the gratification or RM10,000, whichever is higher. On June 18, Mohamad Ali was charged in the Shah Alam Sessions Court with 20 corruption offences and was granted bail of RM60,000 with one surety, with his passport surrendered to the court. He pleaded not guilty then. During today's proceedings, MACC Deputy Public Prosecutor Datuk Ahmad Akram Gharib requested the same conditions and bail amount as decided by the Shah Alam Court. "The prosecution will also file an application on the mention date of July 27 in the Shah Alam Court for all cases there to be transferred to Melaka Sessions Court 1 to be jointly tried," he said. Lawyer Md Yunos Shariff, who appeared for Mohamad Ali, confirmed the bail and conditions. He did not object to the prosecution's suggestion for a joint trial of the cases in the Shah Alam and Melaka courts. Elesabet then allowed the prosecution's application and set Aug 14 for the next mention.
