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 Malaysian International Chamber of Commerce and Industry (MICCI) has voiced concerns over the recent government decision to mandate Employees Provident Fund (EPF) contributions for foreign workers . While the move aims to improve worker welfare, MICCI warns it could bring unintended economic challenges for businesses and foreign workers alike. Key Concerns Raised by MICCI Impact on Businesses : Increased Labour Costs : Sectors like manufacturing, construction, and services heavily reliant on foreign labour face immediate cost hikes , threatening profit margins and global competitiveness. Investor Confidence : The lack of consultation sends mixed signals to investors, raising concerns about the stability and predictability of Malaysia’s regulatory environment . Challenges for Foreign Workers : Reduced Take-Home Pay : EPF deductions could reduce disposable income , affecting their ability to remit money home ...