Day: September 26, 2024

KUALA LUMPUR, The ringgit retreated against the US dollar on Thursday, taking a breather from recent gains as investors cashed out profits following its considerable appreciation, an economist said. At 8 am, the ringgit was traded at 4.1305/1375 against the greenback, after rallying to 4.1275/1310 at yesterday’s close. From a technical standpoint, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the local currency had been overbought for some time. ‘We are seeing profit-taking set in as traders may want to cash out, given the ringgit’s considerable appreciation,’ he told Bernama. Mohd Afzanizam added that investors were

ALOR SETAR, The number of flood victims in Kedah decreased to 1,885 people from 593 families as of 8 am today, compared to 2,366 people from 736 families last night. According to the Social Welfare Department’s Info Bencana portal, all evacuees are taking shelter at 18 temporary relief centres across the Pendang, Kota Setar and Pokok Sena districts. Pendang recorded the highest number of victims, with 1,216 people from 365 families still housed in 10 centres, followed by Kota Setar with 605 victims from 203 families in seven centres and Pokok Sena with 64 victims from 25 families in one

IPOH, The introduction of premium salaries for Technical and Vocational Education and Training (TVET) graduates is expected to draw more young people towards choosing this path as a viable career option. Politeknik Ungku Omar (PUO) director Dr Shamsuri Abdullah said the competitive salary rates could also help change the public perception of TVET, which has long been viewed as a ‘second-class’ education programme. ‘This initiative not only boosts the global competitiveness of our local workforce, but with higher salaries, we can ensure a greater retention and development of skilled workers across various sectors. ‘Also, it will indirectly reduce the nation’s

BEIJING, Communications Minister Fahmi Fadzil has arrived in Beijing for a three-day working visit aimed at strengthening ties between Malaysia and China in broadcasting, digital communication and the film industry. This is Fahmi’s first visit to China since assuming office in December 2022. On arrival, Fahmi will meet with the National Radio Television Administration (NRTA) to discuss key areas of mutual interest, including regulatory policies, content collaboration and the use of advanced technology for industry growth. The visit is expected to see the signing of a Memorandum of Understanding (MoU) between Malaysia and China to enhance cooperation in media and

KUALA LUMPUR, Bursa Malaysia opened lower on Thursday amid mixed regional sentiment, as diminishing effects of China’s recent monetary policy shifted investors’ focus to potential fiscal stimulus measures, according to an analyst. At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) depreciated 1.24 points to 1,672.14 from Wednesday’s close of 1,673.38. The benchmark index opened 3.19 points easier at 1,670.19. Across the broader market, decliners outnumbered advancers by 196 to 149, with 291 counters remaining unchanged, 1,880 untraded and 51 suspended. Turnover totalled 133.12 million units valued at RM78.02 million. ActivTrades trader Anderson Alves noted that a bullish short-term