KUALA LUMPUR, Dec 16 (Bernama) -- Bursa Malaysia extended its positive performance, closing higher for a fourth consecutive session, supported by improving local market sentiment underpinned by a firm domestic macroeconomic backdrop. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.59 points, or 0.28 per cent, to 1,648.31, from Monday’s close of 1,643.72. The index had opened 0.95 of a point lower at 1,642.77, and moved between 1,636.50 and 1,648.71 throughout the trading session However, on the broader market, decliners beat gainers 699 versus 408. A further 520 counters were unchanged, 1,149 untraded and 12 suspended. Turnover rose to 2.59 billion units worth RM2.27 billion from 2.50 billion units worth RM2.16 billion on Monday.
It has been more than a week since the Prime Minister of Malaysia, Dato' Seri Najib Tun Razak has tabled the 2011 budget for the nation. The 2011 Malaysia Budget is based on the theme Transformation Towards a Developed and High-Income Nation. The budget might seems ambition, but does it really relevant to most of the rakyat (citizen) of Malaysia?
From the long list of the Malaysia Budget for the Year 2011: Transformation Towards a Developed and High-Income Nation, there are actually few things that is actually relevant to us. True that some of the construction work like the construction of the highways or greater KL MRT will provide better transportation system in the near future, but will it really ease the burden or the citizen? We are not sure about that.
Anyway, back to the topic What Does the Malaysia 2011 Budget Has In Store for Us, one of the thing that I see that most Malaysians might be anticipating is the introduction of GST (Goods and Services Tax), but the government has choose to postpone the introduction of GST. This might be a political play, however, the government has increased the current service tax rate from 5% to 6%. It is surprise to see that when the Government "promise" the rakyat the GST rate will be lower, the Government actually defers it and increase the current service tax.
Toll rates will not be increased over the next five years which seems like a good news to most Malaysians, especially those staying in KL area, but this will also mean that it is the Government using the taxpayers' money for this subsidy although I do not see any justification for PLUS to keep raising the toll rates every now and then? Or the Government will push towards PLUS privatisation? We never know.
There are actually other goodies that is in store for us in this budget which I will discussed in the next post, but overall it seems to me that this is just another budget like others from previous years.
From the long list of the Malaysia Budget for the Year 2011: Transformation Towards a Developed and High-Income Nation, there are actually few things that is actually relevant to us. True that some of the construction work like the construction of the highways or greater KL MRT will provide better transportation system in the near future, but will it really ease the burden or the citizen? We are not sure about that.
Anyway, back to the topic What Does the Malaysia 2011 Budget Has In Store for Us, one of the thing that I see that most Malaysians might be anticipating is the introduction of GST (Goods and Services Tax), but the government has choose to postpone the introduction of GST. This might be a political play, however, the government has increased the current service tax rate from 5% to 6%. It is surprise to see that when the Government "promise" the rakyat the GST rate will be lower, the Government actually defers it and increase the current service tax.
Toll rates will not be increased over the next five years which seems like a good news to most Malaysians, especially those staying in KL area, but this will also mean that it is the Government using the taxpayers' money for this subsidy although I do not see any justification for PLUS to keep raising the toll rates every now and then? Or the Government will push towards PLUS privatisation? We never know.
There are actually other goodies that is in store for us in this budget which I will discussed in the next post, but overall it seems to me that this is just another budget like others from previous years.
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