KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
The World Bank launched its revamped "Business Ready" report on Thursday, assessing the business and investment climate of 50 economies. Singapore, Hungary, and Estonia took top positions in key categories, marking the return of a major World Bank business survey since the "Doing Business" rankings were scrapped in 2021.
The new survey evaluates a country's business environment across three major areas: regulatory quality, public service effectiveness (such as electricity and tax administration), and operational efficiency. The report moves away from ranking countries, instead using business readiness scores to provide a clearer picture of how prepared a country is for investment.
- Singapore scored the highest in operational efficiency, with a score of 87.33%, followed by Georgia, Rwanda, and Estonia.
- Hungary led in regulatory framework, achieving 78.23%, followed by Portugal, Georgia, and the Slovak Republic.
- Estonia topped the public services category with a score of 73.31%, followed by Singapore, Croatia, and Portugal.
The new system is designed to avoid the issues that led to the downfall of the Doing Business rankings, which were plagued by data manipulation scandals, particularly involving China and other countries. The World Bank emphasized data transparency and introduced stricter protocols, including whistleblower protections and software allowing public verification of results.
In its inaugural report, the 50 surveyed economies averaged 65.5% on regulatory matters but only 49.7% on public services, indicating room for improvement. The next report, scheduled for 2025, will expand to include 110 economies, including the US and China, with full global coverage expected by 2026.
Notably, some low-income economies like Rwanda scored well, showcasing that even poorer countries can create positive business environments that encourage growth.
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