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.
The Malaysia Digital Economy Corporation (MDEC) is actively pursuing new international markets to bolster Malaysia's role as a leading digital economy hub in ASEAN. MDEC has already facilitated Malaysian digital companies’ entry into 17 global markets, with growing success under its Gateway, Amplify, Invest, and Nurture (GAIN) programme.
According to Wan Murdani Wan Mohamad, MDEC’s head of digital industry acceleration, the corporation has identified nine new markets with opportunities for digital exports, particularly in Brazil, Kenya, Tanzania, and Spain. While these are still in the early stages, MDEC is focusing on building partnerships and promoting Malaysian digital companies to convert these opportunities into real exports.
MDEC's broader strategy includes leveraging ASEAN’s projected US$1 trillion digital economy by 2030 and its 647 million population, emphasizing the importance of harmonizing regional policies to facilitate cross-border trade and data flow.
To establish Malaysia as a regional digital hub, key investments in technologies such as artificial intelligence (AI), blockchain, and cybersecurity are critical. MDEC is also focusing on digital infrastructure, cyber security, and talent development, which align with the Ministry of Digital’s priorities.
Talent development remains a cornerstone of MDEC’s approach, with over 15 institutions designated as Premier Digital Tech Institutions (PDTI) to produce skilled digital talent. Additionally, MDEC is open to bringing in foreign talent through initiatives like the Foreign Knowledge Worker Pass and the Malaysia Tech Entrepreneur Pass to complement the local workforce.
The announcement was made during the Expand North Star (ENS) 2024 event in Dubai, where Malaysia is participating alongside 6,500 exhibiting companies, 1,800 start-ups, and 1,200 investors from over 180 countries.
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