KUALA LUMPUR, July 30 (Bernama) -- Bursa Malaysia's key index closed at an intraday high today, supported by continued buying interest even as renewed geopolitical tensions and a weaker overnight lead from Wall Street following the US Federal Reserve's (Fed) decision to stand pat on interest rates weighed on broader sentiment. The Fed has decided to hold rates steady for the fifth consecutive meeting, with the Federal Funds Rate unchanged between 3.50 per cent and 3.75 per cent. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 4.84 points to 1,720.40 from yesterday’s close of 1,715.56. The benchmark index, which opened 1.14 points lower at 1,714.42, hit its lowest level of 1,710.69 in early trade before gaining momentum for the rest of the day. However, the broader market was negative with losers outpacing gainers 581 to 411, while 612 counters were unchanged, 1,173 untraded, and 87 suspended. Turnover declined to 2.49 billion units valued at RM2.25 billion from ...
Several Chinese companies are in discussions with Malaysian authorities regarding potential investments in Perlis, particularly in the Chuping area near Padang Besar, according to the Malaysian Investment Development Board’s (MIDA) Kedah and Perlis director, Mohd Rushdan Mohd Ghazali.
The proposed investments are expected to focus on the electric vehicle (EV) industry. "These potential new investments in Perlis may take time. We cannot estimate when Perlis will receive the investments because it is still in negotiations," Mohd Rushdan mentioned during a MIDA dialogue session with the Perlis Tiong Hwa Chamber of Commerce and Industry.
He noted that the Chuping Valley Industrial Area is centered around four key clusters: the green industry, halal industry (including pharmaceuticals), EVs, and renewable energy.
Additionally, Mohd Rushdan highlighted that many companies, particularly from China, are also looking at Kulim and Sungai Petani in Kedah for investments in the semiconductor industry. He emphasized the strategic importance of Penang and Kedah (Kulim) as semiconductor hubs and expressed a desire to see such investments extend to northern Kedah and Perlis.
"We want to see continued growth in investments, especially in areas like Kulim and Sungai Petani, and further spillover into the northern parts of Kedah and Perlis," he added.
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