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.
Federal Government’s Financials Improved in 2023, but Rising Liabilities Require Attention — AG's Report
The federal government's financial performance in 2023 showed improvement compared to 2022, with excess revenue increasing by RM2.028 billion , according to the Auditor General's (AG) Report . Additionally, the government's deficit decreased by RM8.595 billion , bringing the deficit-to-GDP ratio down to 5.0% from 5.5% in the previous year. However, the report highlighted concerns over the increasing trend of federal liabilities , which consist of federal debt and financial liabilities. These liabilities grew by RM92.038 billion (6.6%) to reach RM1.492 trillion in 2023, up from RM1.400 trillion in 2022. Furthermore, the government's guarantee commitment for 13 companies increased by RM3.288 billion (1.5%) . At the same time, dividends received by the federal government fell significantly, decreasing by RM9.756 billion (17.5%) , down from RM55.815 billion in 2022. Despite these challenges, the AG Report stated that the federal government’s financial statements pre...