KUALA LUMPUR, July 29 (Bernama) -- Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session. IPPFA Sdn Bhd director of investment strategy and country economist Mohd Sedek Jantan said consumer products and services stocks lifted the key index higher, overcoming lingering geopolitical concerns. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 3.08 points to 1,715.56 from yesterday’s close of 1,712.48. The benchmark index, which opened 1.91 points higher at 1,714.39, moved between 1,710.79 and 1,720.59 during the day’s trading. In the broader market, gainers outstripped decliners 550 to 476, while 612 counters were unchanged, 1,129 untraded, and 48 suspended. Turnover rose to 2.96 billion units valued at RM2.48 billion from 2.94 billion units valued at RM2.56 billion on Tuesday.
Government Expands Sumbangan Asas Rahmah (Sara) Initiative to Support 5.4 Million Recipients from April
The Malaysian government has announced the expansion of the Sumbangan Asas Rahmah (Sara) initiative, set to begin on April 1 , 2025. The scheme, which targets assistance for low-income individuals and households, will now benefit 5.4 million recipients , a substantial increase from the previous 700,000 beneficiaries. In an official statement, the Ministry of Finance revealed that eligible recipients will receive up to RM2,100 in aid, marking a 75% increase from the RM1,200 aid given in 2024. This increase is part of a larger effort to redistribute a portion of Malaysia’s higher revenue and subsidy savings to those in need. Key Highlights of the Sara Initiative : Targeted Assistance : The Sara initiative is designed to provide financial aid to the country's most vulnerable populations. Recipients will receive the aid through their MyKad , which can be used to purchase essential goods. Increased Coverage : The scheme will n...