KUALA LUMPUR, June 22 (Bernama) -- Bursa Malaysia ended on a softer note today as investors engaged in profit-taking following the recent rebound in the local market, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) declined by 0.65 per cent, or 11.19 points, to 1,700.84 from last Friday's close of 1,712.03. The benchmark index opened 1.56 points lower at 1,710.47 and moved between 1,699.94 and 1,712.32 throughout the trading session. Market breadth was negative, with decliners outnumbering gainers 560 to 481. A total of 608 counters were unchanged, 1,649 untraded, and 14 suspended. Turnover slipped to 3.29 billion units worth RM2.40 billion from 3.45 billion units worth RM3.79 billion on Friday.
Penang's tourism sector is set for a major uplift with the introduction of a new daily direct flight between Chennai, India, and Penang by IndiGo Airlines, starting Dec 21, 2024.
This move, announced by Penang State Tourism and Creative Economy Committee (Petace) chairman Wong Hon Wai, is expected to boost travel, business, and family visits, strengthening economic and cultural ties between India and Penang.
Key Highlights
- Direct Connection: The Chennai-Penang route will be the only direct flight linking the two cities, offering a convenient travel option for passengers.
- Tickets Available Now: Travelers can book flights on IndiGo’s official website.
Boost for Penang-India Ties
Wong Hon Wai emphasized the strategic importance of this route, citing Chennai’s position as the fifth-largest city in India, with a population exceeding 12 million, as a key market for Penang.
- Strengthening Ties: Penang has significant economic and cultural connections with Tamil Nadu, especially Chennai.
- Tourism Growth: The route is projected to quickly elevate India into Penang’s top 10 tourist source markets.
Tourism Diversification Strategy
Wong also highlighted Petace’s commitment to diversifying Penang’s tourism source markets.
- Global Visibility: Attracting diverse international tourists enhances Penang’s global appeal.
- Risk Mitigation: A broader tourist base reduces dependence on single-source markets, ensuring sustainable tourism growth.
Why It Matters
The new flight is expected to stimulate passenger traffic for business and leisure, while reinforcing cultural bonds between India and Penang.
Travelers, business stakeholders, and families looking to reconnect will all benefit from this new direct and efficient connection, marking a significant step in enhancing Penang’s position as a top international destination.
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