KUALA LUMPUR, Aug 12 (Bernama) -- Bursa Malaysia ended at its intraday high on Wednesday, buoyed by buying interest in utilities and petrochemical stocks amid elevated crude oil prices. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 10.15 points, or 0.59 per cent, to 1,741.61 compared with yesterday’s close of 1,731.46. The benchmark index opened 0.01 of a point higher at 1,731.47 and subsequently hit a low of 1,728.64 in early trade before gaining momentum for the rest of the day. Late buying drove the index to end at its intraday high. On the broader market, gainers beat losers 661 to 512, while 600 counters were unchanged, 1,014 untraded and 13 suspended. Turnover increased to 3.70 billion units valued at RM3.27 billion from 3.43 billion units valued at RM2.94 billion on Tuesday.
Malaysia’s Forest City was conceived as a futuristic metropolis, but the US$100 billion development has spent much of the past decade struggling with weak occupancy, sluggish property sales and questions over what could ultimately bring the city to life. Now, an unexpected answer may be emerging: technology rather than property . Malaysian crypto entrepreneur Jeff Yew , the former head of Binance Australia and current chief executive of Monochrome Asset Management, is considering establishing a technology campus at Forest City. The proposed project could focus on artificial intelligence, blockchain and computer science, while combining international talent with the development of Malaysian entrepreneurs. The plans remain preliminary, but they raise a bigger question for investors: Could Forest City become part of Malaysia’s push to build a higher-value digital economy? From Property Megaproject to Technology Hub? Forest City’s challenge has never simply bee...