KUALA LUMPUR, Dec 5 (Bernama) -- Bursa Malaysia closed lower on Friday amid mixed regional market performance as investors turned cautious over a possible rate hike by the Bank of Japan (BOJ) and upcoming US economic data that may influence the Federal Reserve’s (Fed) interest rate decision next week. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) pared most earlier losses to settle 4.55 points easier, or 0.28 per cent, to 1,616.52 from Thursday’s close of 1,621.07. The benchmark index, which opened 0.37 of-a-point lower at 1,620.70, moved between 1,609.67 and 1,621.25 throughout the day. The broader market was negative, with decliners outpacing advancers 604 to 439. A total of 550 counters were unchanged, 1,151 untraded, and 18 suspended. Turnover declined to 3.17 billion units worth RM2.24 billion from 4.48 billion units worth RM2.75 billion yesterday. Rakuten Trade Sdn Bhd vice-presiden...
Starting Aug 1, the government will restructure chicken egg subsidies and roll out “special grade eggs” at more affordable prices, according to the Ministry of Agriculture and Food Security.
Key Points:
The move is part of a phased subsidy rationalisation plan aimed at ensuring long-term sustainability and better targeting.
Consumers can also buy eggs at competitive prices via Agro Madani Sales and Jualan Rahmah at Fama and LPP outlets nationwide.
Subsidy savings will be redirected to core welfare programmes.
Background:
From Feb 2022 to Dec 2024, the government spent RM2.5 billion on temporary egg subsidies to support households during the pandemic and global supply chain disruptions.
With market conditions stabilising, the government says it is confident the industry can maintain stable and sufficient egg supply under the new structure.
Price Control:
The Ministry of Domestic Trade and Cost of Living (KPDN) will ramp up enforcement under the Price Control and Anti-Profiteering Act 2011 to prevent price manipulation.
Consumers can report supply or pricing issues via pro@kpkm.gov.my or the KPDN hotline (03-8000 8000).
Summary: The government is shifting to a more targeted subsidy model, introducing cheaper “special grade eggs” while focusing savings on welfare programmes and keeping egg supply stable.
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