Kuala Lumpur: Prime Minister Tan Sri Muhyiddin Yassin
(pic) Monday unveiled a RM15 billion aid package to ease the people’s burden and ensure economic resilience at a time when the country is grappling with the Covid-19 pandemic.
Muhyiddin said the Perlindungan Ekonomi dan Rakyat Malaysia (PERMAI) aid package contains 22 initiatives to combat the pandemic, safeguard the welfare of the people and support business continuity.
“The government has time and again demonstrated that we will not compromise in ensuring the rakyat’s wellbeing, business continuity and economic resilience,” he said when announcing the PERMAI package over national television and social media platforms.
Enhanced wage subsidies, advanced EPF withdrawals and more in Malaysia s RM15bn PERMAI package Details Published: 19 January 2021
The new package, announced on 18 January, will see the enhancement of the Wage Subsidy Programme, whereby all employers operating in the MCO states will be eligible to apply, irrespective of their sector.
Malaysia s Prime Minister Tan Sri Muhyiddin Yassin has announced a new assistance package, as part of the Government s ongoing efforts in ensuring the Rakyat s wellbeing, business continuity and economic resilience.
Named Perlindungan Ekonomi dan Rakyat Malaysia (PERMAI), the RM15bn package will improve on the existing, ongoing initiatives introduced in the previous assistance packages, and accelerate the implementation of related initiatives, PM Muhyiddin said.
At 9.05am, the FBM KLCI rose 3.17 points to 1,612.69.
The early gainers included Milux Corp Bhd, PMB Technology Bhd, Kobay Technology Bhd, Malaysian Pacific Industries Bhd, Far East Corp Bhd, Tasco Bhd, ViTrox Corp Bhd and Mesiniaga Bhd.
Bloomberg said Asian equities pushed higher on Tuesday and bond yields ticked up as investors awaited comments from Treasury Secretary nominee Janet Yellen on US stimulus and the dollar.
Rakuten Trade said Wall Street was closed yesterday but Biden’s inauguration on Wednesday may spur some buying interests going forward.
The research house said that already the Dow Jones Industrial Average futures is trending at positive levels.
KUALA LUMPUR (Jan 19): The main index of Bursa Malaysia made less-than-convincing gains in the mid-morning today as the government’s RM15 billion Perlindungan Ekonomi dan Rakyat Malaysia (PERMAI) assistance package did not seem to boost sentiment, which appeared to be more influenced by the coronavirus pandemic.
At 10am, the FBM KLCI had gained 4.92 points to 1,614.44.
Losers led gainers by 416 to 404, while 420 counters traded unchanged. Trading volume was 1.75 billion shares valued at RM1.03 billion.
The gainers included Milux Corp Bhd, Toyo Ventures Holdings Bhd, PMB Technology Bhd, Cymao Holdings Bhd, Far East Corp Bhd and Khind Holdings Bhd.
The actively traded stocks included Vsolar Group Bhd, ARB Bhd, KTG Bhd, PNE PCB Bhd, JAKS Resources Bhd, i-Stone Group Bhd, Samaiden Group Bhd and Dagang NeXchange Bhd (DNeX).
KUALA LUMPUR (Jan 19): The main index at Bursa Malaysia pared some of its gains at the midday break Tuesday as broader market sentiment appeared lukewarm to the government’s RM15 billion Perlindungan Ekonomi dan Rakyat Malaysia (Permai) assistance package.
At 12.30pm, the FBM KLCI was up 2.78 points to 1,612.30. The index had earlier climbed to a high of 1,618.41.
Declining issuers led advancers by 370 to 365, while 728 counters traded unchanged. Trading volume was 4.16 billion shares valued at RM2.50 billion.
The gainers included Nestle (M) Bhd, Toyo Ventures Holdings Bhd, Milux Corp Bhd, PMB Technology Bhd, Khind Bhd, Samaiden Group Bhd and Carlsberg Brewery Malaysia Bhd.