Day: August 19, 2024

PUTRAJAYA, The implementation of the Bumiputera Economic Transformation Plan 2035 (PuTERA35) will be overseen by the Bumiputera Economic Council, which Prime Minister Datuk Seri Anwar Ibrahim chairs. The Economy Ministry said that integrated and systematic reporting and monitoring will enable more comprehensive assessment and intervention to be taken immediately. “The role of the Bumiputera Agenda Empowerment Unit in every ministry will also be strengthened. They will be responsible for implementing and monitoring the initiatives at the ministry and agency levels,” it said in a statement today. The PuTERA35 plan, launched by the prime minister today, is supported by three core

KUALA LUMPUR, The FTSE Bursa Malaysia KLCI (FBM KLCI) futures contract on Bursa Malaysia Derivatives ended higher today in line with the uptrend in the cash market. The August 2024 contract gained 30.0 points to 1,655.0, September 2024 and December 2024 added 27.5 points to 1,633.5 and 1,639.5, respectively, while March 2025 climbed 28.0 points to 1,626.0. Turnover rose to 14,659 lots from 8,779 last Friday, while open interest grew to 54,407 contracts from 48,130 previously. At 5 pm, the FBM KLCI was 1.53 per cent, or 24.80 points firmer at 1,648.70 compared with Friday’s close of 1,623.90. Source: BERNAMA

KUALA LUMPUR, Batu Kawan Bhd’s net profit for the third quarter ended June 30, 2024 (3Q) rose to RM131.03 million from RM82.80 million registered in the same quarter a year ago. Revenue in the quarter jumped to RM5.68 billion compared with RM5.35 billion previously, it said in a filing with Bursa Malaysia today. The company attributed the higher revenue to the performance of its plantation segment, where the profit jumped three-fold to RM369.37 million mainly due to higher crude palm oil (CPO) and palm kernel (PK) selling prices realised and sales volumes. The higher profit was also contributed by lower

KUALA LUMPUR, MIDF Amanah Investment Bank Bhd has maintained its forecast that Malaysia’s goods exports and imports will recover and grow at 5.2 per cent (2023: -8.0 per cent) and 11.2 per cent (2023: -6.4 per cent), respectively, this year. In a research note today, the bank said that the pickup in external demand for manufactured goods exports, including electric and electronic (EandE) components, along with other commodities, such as palm oil and natural gas, will support a rebound in exports this year. ‘Export growth accelerated to 12.3 per cent year-on-year (y-o-y) in July 2024, marking the fastest growth in

KUALA LUMPUR, The Asian Institute of Chartered Bankers (AICB) and its Compliance Officers’ Networking Group have organised a special two-day International Conference on Financial Crime and Terrorism Financing (IFCTF) Masterclass 2024 beginning today. The IFCTF Masterclass 2024, themed ‘Combatting Financial Crime and the Anti-Money Laundering (AML), Countering Financing of Terrorism (CFT), Countering Proliferation Financing (CPF): A Technical Deep Dive,’ offers Malaysian bankers an immersive experience in financial crime, fostering collaboration and innovative thinking through sessions led by distinguished global and regional experts. AICB Chairman Tan Sri Azman Hashim said it is crucial to cultivate the banking workforce’s ability to anticipate,

KUALA LUMPUR, A robust gross domestic product (GDP) growth of 5.9 per cent in the second quarter of 2024 is a positive indicator that Malaysia is on track to achieve its GDP projection of around 4.0 to 5.0 per cent for the year. Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz said in a post on X today that among the factors contributing to the GDP growth in the second quarter was a significant increase in private investment, as investors are increasingly confident about the country’s economic prospects. ‘Private investment increased by 9.2 per cent in