KUALA LUMPUR, Nov 5 (Bernama) -- Bursa Malaysia closed higher, buoyed by Bank Negara Malaysia’s (BNM) decision to maintain the Overnight Policy Rate (OPR) at 2.75 per cent, alongside positive cues from Wall Street. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 19.30 points, or 1.19 per cent, to 1,635.86 from Wednesday’s close of 1,616.56. The benchmark index opened 6.72 points higher at 1,623.28, and fluctuated between an intraday high of 1,642.44 and a low of 1,622.62 during the trading session. However, market breadth was negative, with losers outnumbering gainers 723 to 497, while 466 counters were unchanged, 1,075 untraded and 10 suspended. Turnover rose to 3.74 billion units valued at RM3.61 billion compared with yesterday’s 2.81 billion units valued at RM2.57 billion.
Following are the highlights of the National Automotive Policy (NAP) 2014 that was unveiled by the Trade and Industry Minister, Datuk Seri Mustapa Mohamed. But if you are anticipating for cheaper car prices, you are wrong. In fact, the NAP 2014 raises a lot of questions and very few answers. It appears that the NAP 2014 isn't quite ready but probably due to the pressing concerns by the big players to know the upcoming policy, the announcement was made.... Here are the HIGHLIGHTS.... OBJECTIVES: * to promote competitive and sustainable domestic automotive industry including the national automotive companies. * to transform Malaysia into a regional automotive hub in energy-efficient vehicles (EEV) * to promote higher value-added activities * to bolster exports of vehicles and components * to encourage participation of Bumiputera companies in total value chain of the domestic automotive industry * to safeguard consu...