KUALA LUMPUR, Sept 8 (Bernama) -- Bursa Malaysia closed almost flat on Tuesday as buying interest rotated away from index heavyweights towards smaller-cap construction stocks, with sentiment affected by geopolitical uncertainty, said an analyst. At 5 pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) eased 0.39 of a point to 1,714.40 from Monday’s close of 1,714.79. The benchmark index opened 1.65 points lower at 1,713.14 and moved between 1,710.44 and 1,714.50 throughout the trading session. The broader market was almost evenly balanced, with decliners leading gainers 548 to 546, while 598 counters were unchanged, 1,107 were untraded and 25 were suspended. Turnover expanded to 4.13 billion units valued at RM3.14 billion from 3.60 billion units valued at RM2.45 billion on Monday.
The Goods and Services Tax (GST) will only be reintroduced in Malaysia when the minimum income threshold reaches RM3,000-RM4,000 , said Prime Minister Datuk Seri Anwar Ibrahim . Currently, the minimum monthly wage in Malaysia stands at RM1,500 . While acknowledging the GST as an efficient and transparent tax system that would boost government revenue, Anwar stressed that it should not burden low-income earners. "My view is, give it some time, some years; (we must) make sure that the income threshold increases to the minimum of RM3,000-RM4,000, then we can adjust the policy," he said during the Associated Chinese Chambers of Commerce and Industry’s (ACCCIM) 78th annual general meeting . Anwar, who also serves as finance minister, noted that discussions on GST have been ongoing for decades, even during his tenure as finance minister in the 1990s. He emphasized that tackling corruption should be a priority before implementing such a tax system.