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.
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...