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.
The governance pillar of the Environmental, Social, and Governance (ESG) framework, often overshadowed by its environmental and social counterparts, is receiving greater emphasis under Malaysia’s Budget 2025 . These reforms are aimed at ensuring transparency , accountability , and socio-economic equity , creating a foundation for a more resilient and inclusive Malaysia . Key Highlights of Governance Reforms 1. Fiscal Responsibility and Subsidy Reforms The government is narrowing the fiscal deficit to 3.8% of GDP in 2025 (from 4.3% in 2024). Subsidy Rationalisation : Phasing out blanket subsidies in favor of targeted assistance to benefit vulnerable groups. Savings will increase Sumbangan Tunai Rahmah allocation from RM8 billion to RM10 billion , supporting 9 million recipients. Revenue Boost: Sales and Service Tax (SST) expansion. 2% dividend tax on income exceeding RM100,000 annually. 2. Pub...