KUALA LUMPUR, Aug 21 (Bernama) -- Bursa Malaysia ended little changed on Friday, as investors remained cautious amid renewed pressure on global bond yields and geopolitical tensions, an analyst said. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.23 points to 1,736.48 compared with Thursday’s close of 1,736.71. The benchmark index opened 0.63 of a point lower at 1,736.08, and fluctuated between 1,733.13 and 1,738.30 throughout the day. On the broader market, losers outpaced gainers 637 to 578, while 571 counters were unchanged, 1,086 untraded and 47 suspended. Turnover decreased to 3.91 billion units valued at RM3.32 billion from 4.28 billion units valued at RM4.01 billion on Thursday.
Gold Card to Replace EB-5 Visa Program
- Trump announced plans to replace the EB-5 investor visa program with a new "Gold Card" priced at US$5 million as a route to U.S. citizenship.
- The EB-5 program currently grants green cards to foreign investors who create or preserve U.S. jobs.
- The new Gold Card would offer green card privileges and a direct path to U.S. citizenship.
Trump’s Justification for the Change
- Trump called the EB-5 program "full of nonsense, make-believe, and fraud", arguing it was a cheap way to obtain U.S. residency.
- Commerce Secretary Howard Lutnick said the new plan would ensure only wealthy investors gain U.S. entry.
Potential Eligibility & Controversy
- When asked if Russian oligarchs could qualify, Trump responded, "Yeah, possibly. I know some Russian oligarchs that are very nice people."
- Critics may question whether the policy favors ultra-wealthy elites over job-creating investors.
What’s Next?
- Trump said full details of the Gold Card program will be released in two weeks.
Summary:
- Trump proposes replacing the EB-5 visa with a US$5 million "Gold Card" that grants green card privileges and a path to citizenship.
- Move aims to attract ultra-wealthy investors while eliminating alleged fraud in the EB-5 program.
- Russian oligarchs and other foreign elites may be eligible, raising potential controversy.
- More details to be announced in two weeks.
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