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...
Malaysia has officially scrapped its plan for a high-value goods tax (HVGT), opting instead to tax luxury items at 5% or 10% under the existing sales tax system. The decision is part of wider fiscal reforms aimed at boosting national revenue.
Other tax measures, including a capital gains tax, an expanded sales and service tax, and a low-value goods tax, are expected to add RM500 million to RM10 billion annually to government coffers.
As of June 2025, Malaysia’s federal debt reached RM1.3 trillion, up from RM1.25 trillion at the end of 2024. However, the growth rate is slowing, with projections dropping to 6% in 2025 as the government focuses on revenue expansion, optimized spending, and targeted borrowing for high-impact projects.
Market Overview:
FBM KLCI: 1,523.82 (-0.36%)
Top Gainer: PCHEM RM3.79 (+4.99%)
Top Loser: IOICORP RM3.75 (-2.85%)
USD/MYR: 4.2354 (+0.06%)
Investor sentiment on Bursa Malaysia remained cautious amid US-Malaysia trade talks and a downward GDP revision by Bank Negara.
Key Corporate Moves:
PARAMON will acquire a 28% stake in Envictus International Holdings for SGD38.3 million.
BURSA reported a 29% drop in Q2 net profit due to weaker securities market revenue.
FGV trading to be halted on August 15 as privatization nears.
UMCCA will buy the remaining 17% stake in its Indonesian plantation unit for USD10 million.
YOCB estimates RM30 million losses from a fire at its Singapore facility.
With ongoing trade negotiations and upcoming economic data, analysts expect the cautious tone in the market to persist in the short term.
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