KUALA LUMPUR, April 3 (Bernama) -- Bursa Malaysia closed marginally lower on Friday, as cautious sentiment persisted, with investors remaining on the sidelines amid ongoing conflicts in West Asia, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 2.80 points, or 0.16 per cent, to 1,695.50 from Thursday’s close of 1,698.30. The benchmark index opened 5.82 points higher at 1,704.12, and moved between 1,693.65 and 1,708.12 throughout the day. However, market breadth remained positive, with gainers outnumbering losers 634 to 415, while 521 counters were unchanged, 1,077 untraded and 10 suspended. Turnover improved to 3.38 billion units worth RM2.95 billion from yesterday’s 3.20 billion units worth RM3.50 billion.
BUDGET 2016: NAJIB ALLOCATES RM267.2 BILLION
Budget 2016 was tabled by Prime Minister Datuk Seri Najib Razak last Friday, with the theme "Prospering the Rakyat", allocating RM267.2 billion compared with the revised RM260.7 billion in 2015.
Among his measures to boost revenue was to raise taxes on the country’s richest individuals. Those earning RM600,000 to RM1 million annually will be taxed at 26% from 25% now, while those earning more than RM1 million a year will pay a rate of 28%. In its 2015/2015 economic report, the government forecast that GDP would grow 4% to 5% in 2016, from 4.5% to 5.5% this year. It sees the fiscal deficit narrowing to 3.1% of GDP in 2016 from a revised 3.2% this year.
WCT GETS TRX CONTRACT, BUYS TRX LAND
1MDB is on the spotlight again, as 1MDB Real Estate Sdn Bhd has awarded WCT Holdings Bhd a RM754.8 million contract to build infrastructure and roadway works for the Tun Razak Exchange (TRX). WCT’s indirect unit, WCT Precious Development Sdn Bhd, also entered into a conditional sale and purchase agreement with 1MDBRE’s wholly-owned unit KLIFD Sdn Bhd to buy a 0.7ha freehold development land, forming part of the TRX, for RM223 million or about RM3,100 per sq ft.
LIM KIT SIANG SUSPENDED
DAP parliamentary leader Lim Kit Siang has been suspended from Parliament for six months for insulting speaker Tan Sri Pandikar Amin Mulia. The motion to suspend the Gelang Patah member of Parliament was passed in a bloc vote, with a final result of 107 “yeas” versus 77 “nays”. The motion noted that Lim had accused Pandikar of abusing his power and “sabotaging” the investigations into 1Malaysia Development Bhd (1MDB) last Monday during a debate on the appointment of the new Public Accounts Committee chairman.
Budget 2016 was tabled by Prime Minister Datuk Seri Najib Razak last Friday, with the theme "Prospering the Rakyat", allocating RM267.2 billion compared with the revised RM260.7 billion in 2015.
 |
| BUDGET 2016 |
WCT GETS TRX CONTRACT, BUYS TRX LAND
LIM KIT SIANG SUSPENDED
DAP parliamentary leader Lim Kit Siang has been suspended from Parliament for six months for insulting speaker Tan Sri Pandikar Amin Mulia. The motion to suspend the Gelang Patah member of Parliament was passed in a bloc vote, with a final result of 107 “yeas” versus 77 “nays”. The motion noted that Lim had accused Pandikar of abusing his power and “sabotaging” the investigations into 1Malaysia Development Bhd (1MDB) last Monday during a debate on the appointment of the new Public Accounts Committee chairman.
Comments
Post a Comment