Business

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

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

Bursa Malaysia chairman Tan Sri Abdul Wahid Omar said bumiputera companies only represented seven per cent of public-listed companies as of 2022. The figure covers 62 companies out of 945 companies listed on Bursa Malaysia. ‘With more equitable control and involvement in the national economy (through PuTERA35), it will provide equitable opportunities to bumiputera in business and also in the employment sector. “I think we will get many more bumiputera companies listed in the future,” he said after the launch of the Bumiputera Economic Transformation Plan 2035 (PuTERA35) today. Wahid also said renewable energy and technology are among the areas

C Rolls Out Revised Guidelines On Technology Risk Management KUALA LUMPUR, The Securities Commission Malaysia’s (SC) revised Guidelines on Technology Risk Management have come into effect today, superseding the Guidelines on Management of Cyber Risk. In a statement today, the SC said the revised guidelines were initially released in August 2023 for capital market entities to be familiar with risk management practices, which now expand beyond cyber security to include technology risks, among others. ‘Thus, the revised guidelines emphasised the significance of strengthening operational reliability, security and resilience against technology disruptions, including SC’s expectations for risk management practices to be

KUALA LUMPUR, RHB Investment Bank Bhd has reaffirmed its optimistic outlook on Malaysia’s gross domestic product (GDP) for 2024, buoyed by resilient trade data from July. The investment bank recently revised its 2024 full-year GDP forecast to five per cent year-on-year (y-o-y), up from the previous projection of 4.6 per cent. In a note today, RHB highlighted that July’s exports accelerated by 12.3 per cent y-o-y, surpassing both market consensus of nine per cent and its in-house projection of 7.6 per cent. Meanwhile, imports surged by 25.4 per cent y-o-y, exceeding the consensus estimate of 14.4 per cent and the