KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
Malaysia and South Korea are set to enhance their Memorandum of Understanding (MOU) on bilateral cooperation in Information and Communication Technology (ICT), originally signed in 2019, with the aim of finalizing improvements by November this year.
This initiative was discussed during a meeting between Malaysia's Communications Minister Fahmi Fadzil and South Korea's Minister of Science and ICT, Yoo Sang-im, at the GSMA M360 APAC 2024 conference held in Seoul on Tuesday.
Integration of AI Technology
Fahmi highlighted that the proposed enhancements to the MOU will focus on the integration of artificial intelligence (AI) technology, which is increasingly being adopted across various sectors in line with digital advancements. He noted, “In many of my discussions with telecommunications companies here, the focus is not only on 5G infrastructure but also on AI-powered 5G and leveraging high-speed internet for AI applications.”
The emphasis on AI reflects a strategic move to optimize the benefits of high-speed internet, with discussions indicating that while South Korea has recently implemented 5G, the current priority remains on utilizing this technology effectively rather than rushing into 6G development.
Long-term Benefits of the MOU
The 2019 MOU between the Ministry of Communications and Multimedia and the Ministry of Science and ICT (MSIT) is designed to provide long-term advantages for both countries, enhancing investment opportunities and facilitating high-tech exchanges.
During their nearly 30-minute meeting, Fahmi and Yoo also discussed various topics, including connectivity, the implementation of 5G Advanced, cybersecurity, filmmaking, and social media. This meeting marks Fahmi's first engagement with Yoo, who has been in his ministerial role since July.
Currently on a three-day working visit to South Korea, which began on Monday, Fahmi is scheduled to deliver a keynote address at the GSMA M360 APAC 2024 conference titled “Building the AI-Enabled Digital Backbone.” The GSMA is a global organization that advocates for mobile network operators and related industries.
This collaboration underscores the commitment of both Malaysia and South Korea to advance their technological capabilities and enhance their ICT frameworks, particularly in the burgeoning field of AI.
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