Day: August 6, 2024

KUALA LUMPUR, The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives ended higher today, tracking the underlying cash market. Spot month August 2024 gained 35.5 points to 1,565.5, September 2024 bagged 34.5 points to 1,547.5, and both December 2024 and March 2025 rose 32.5 points to 1,552.5 and 1,542.5, respectively. Turnover firmed to 23,306 lots from 19,125 on Monday, while open interest widened to 68,127 contracts from 63,439 previously. At 5 pm, the FBM KLCI soared 37.91 points or 2.46 per cent to its intraday high of 1,574.39 compared with Monday’s close of 1,536.48. Source: BERNAMA

KUALA LUMPUR, The ringgit retreated from its winning streak to close lower against the greenback today as the US Dollar Index (DXY) rebounds. At 6 pm, the ringgit declined to 4.4725/4770 versus the greenback from yesterday’s close of 4.4240/4305. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid opined that global financial markets have yet to calm as fears over the potential recession would continue to hog the limelight. “There might be a tendency for US dollar demand to rise as traders seek refuge in the safe-haven currency. “At the moment, the ringgit will move closer to the

SHAH ALAM, The SkyCity tower that is being developed in the digital city of i-City here is set to become a new landmark as well as an additional attraction for the city of Shah Alam and the tourism sector in Selangor. Selangor Menteri Besar Datuk Seri Amirudin Shari said the 60-metre (m) high tower, featuring a 600m-long glass slide built at a cost of about RM15 million, would further enhance i-City’s existing attraction to domestic and foreign tourists. ‘Based on the latest tourism data, i-City is one of the major attractions for visitors coming to Shah Alam, and I hope

KOTA KINABALU, The Sabah State Excellence Scholarship Award (BCNS), presented by Chief Minister Datuk Seri Hajiji Noor today, offers a glimmer of hope for Sabah’s students, particularly those from the B40 group, to realise their dreams. Rory Mae Stanley, 18, who scored 10A’s in the Sijil Pelajaran Malaysia (SPM) examination, admitted that she almost abandoned her ambition of studying medicine due to financial concerns, but the scholarship has now made it possible for her to pursue it. Expressing her gratitude to Hajiji, the Sabah government and Yayasan Sabah, Rory vowed to work hard to make Sabah proud and hopes to

KUALA NERUS, The construction of the East Coast Rail Link (ECRL) project not only creates a new transportation network in Terengganu but also provides job opportunities for thousands of residents. This is acknowledged by 53-year-old Abu Samah Yusof, who works as Deputy Manager of Section 3 at China Communications Construction Sdn Bhd (CCC-ECRL). CCC-ECRL is the main contractor for the ECRL project, which spans 665 kilometres (km) from Kelantan to Gombak. Abu Samah said that before joining the ECRL project, he had to work away from home for over 20 years due to the lack of large-scale projects in Terengganu.