Bursa opens lower as traders adopt wait-and-see approach
The announcement will deliver the first substantive read-through on the economic drag arising from recent US tariff announcements.
At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) inched down 0.51 of a point to 1,580.54 from yesterday's close of 1,581.05.
The benchmark index opened 0.70 of a point firmer at 1,581.75.
However, the market breadth was positive, with advancers leading decliners 110 to 108. A total of 231 counters were unchanged, 2,123 untraded and seven suspended.
Turnover stood at 83.43 million shares worth RM36.44 million.
UOB Kay Hian Wealth Advisors Sdn Bhd head of investment research Sedek Jantan said that historically, the GDP growth has been anchored by private consumption averaging around 49% of nominal GDP and private investment at approximately 23%.
'Should either of these core pillars fall materially below their long-run averages – particularly if private investment remains near its recent 18.5% level – it could undermine investor confidence and heighten risk aversion in domestic markets,' he noted.
He highlighted that although the GDP is a lagging indicator, it provides an essential 'health check' on the macroeconomic landscape, shaping asset allocation and sector positioning.
Moreover, he said the forthcoming release will be scrutinised for evidence of shifts in consumption momentum and investment appetite, both of which are central to sustaining Malaysia's growth trajectory in the second half of the year.
'Advance estimates point to growth of 4.5%, against economists' consensus of 4.3%.
'Beyond the structural drivers noted earlier, should the overall GDP slip below 4.0%, market sentiment could weaken temporarily; however, the FBM KLCI is still likely to draw buy-on-weakness interest,' he added.
Among the heavyweight stocks, Maybank, Public Bank and CIMB added one sen to RM9.85, RM4.46, and RM7.21, respectively. Tenaga Nasional went up two sen to RM13.70, while IHH Healthcare was one sen lower at RM6.89.
On the actively traded list, TWL, Pharmaniaga, Mtouche Technology, and Malaysian Resources Corporation were flat at 2.5 sen, 17.5 sen, 3.5 sen and 52 sen, respectively. Oriental Kopi went down one sen to 97.5 sen.
On the broader market, the FBM Emas Index weakened 2.93 points to 11,757.99, the FBMT 100 Index fell 3.95 points to 11,539.77, the FBM Emas Shariah Index gave up 10.29 points to 11,698.16, and the FBM Mid 70 Index slipped 6.62 points to 16,683.31, while the FBM ACE Index picked up 2.62 points to 4,669.16.
By sector, the Financial Services Index advanced 28.22 points to 18,078.75, the Plantation Index bagged 6.96 points to 7,588.61, but the Energy Index edged down 0.62 of a point to 738.87, and the Industrial Products and Services Index shaved 0.75 of a point to 158.19.
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Malay Mail
14 minutes ago
- Malay Mail
From hearty ‘gado gado' to a loaded ‘roti telur' sando, Trailside Treats near the Bukit Kiara Hill Walk is where runners refuel and build a community
KUALA LUMPUR, Aug 16 — Imagine a group of runners arriving at a café flushed and winded, others stroll in with sweat cooling on their backs. Inside, nutritious and hearty fare such as Gado Gado, a riot of vegetables bound by peanut sauce, and a loaded egg sando (wittily named Roti Telur 2.0) await them as a delicious way to refuel. At Trailside Treats, located near the start of the Bukit Kiara Hill Walk, this is a typical scene on a weekend morning. For the owners Carly Balmforth and Min Xiang Lee, their café was never just about coffee and food. It was about community — the kind that finishes a 10-kilometre run before most people have started their day. Trailside Treats is founded by Min Xiang Lee (left) and Carly Balmforth (right). — Pictures courtesy of Trailside Treats Balmforth says, 'I'm from the UK but I have been living in South-east Asia for over nine years. I was in Malaysia from 2016-18 and then moved on to Thailand and Vietnam, but decided to come back here in 2022.' With a background in Film and Media and a Master's in International Events Management, she's spent the past 12 years in the education sector as a Business Development Director. Lee, a Malaysian who studied in the United States, returned home after earning his Liberal Arts degree to work in B2B (business-to-business) technology. He says, 'I help startups retain and grow revenue, and have been in the industry for the past 8 years.' From a trail run to refuelling at the café. — Pictures courtesy of Trailside Treats But their professional résumés only tell half the story; both have a history with food businesses — and with running. Balmforth's first foray into F&B came in Vietnam, with a vegan café and small fitness centre called The Active Hub. She shares, 'I ran the business for around a year. However, it wasn't able to reach its full potential as we had to close many times due to the Covid-19 pandemic.' Returning to Malaysia, Balmforth was keen to try something similar but hesitated because of her demanding travel schedule. She says, 'When I met Min, I told him about The Active Hub and he was really interested in learning more, so together we started to explore the idea of opening a business.' Lee's own F&B experiment began in the US with Flourish Food, a vegan food delivery service. Around the same time, he started a running group, Radiate Running. He says, 'We both wanted to create a community where we could host trail runners and fitness enthusiasts, and so we decided to move forward with the idea of the café.' 'Location was our number one priority,' Balmforth explains. They found a spot 'right next door' to the Bukit Kiara trail. This proximity wasn't accidental; guests can go from a trail run directly to refueling at the café. Beef Rendang (left). Soto Ayam (right). — Pictures courtesy of Trailside Treats Here, the scent of fresh espresso mingles with the earthy perfume of sweat-damp forest air. Trailside Treats' menu is a mix of comfort and recovery food: Beef Rendang with nasi impit, its tender richness complemented by the compressed rice; Soto Ayam, a flavourful broth brimming with shredded chicken and rice vermicelli, perfect after a long run. Regulars find comfort in their Mushroom, Spinach and Beef Bacon Quiche, paired with a side salad, while the Beef Stroganoff with creamy mash soothes those who've burnt a week's worth of calories in one morning. And for plant-based eaters? Their beloved Lontong awaits, an aromatic vegetable stew with compressed rice. Also, don't miss their Nutty Smoothie, a creamy blend of peanut butter, banana, vanilla paste, oat milk and yoghurt, finished with a granola crunch. Lontong (left). Nutty Smoothie (right). — Pictures courtesy of Trailside Treats Lee shares, 'To me, community means people who lift each other up — whether it's during a tough ultra-run or just starting out on the trails. We're more about growing friendships and helping people than growing our brand.' That ethos is backed by action — 'Every month we host a series of different events to support and grow our community,' Balmforth says — with collaborations with other running groups, wellness days, trail expos, and even a Hari Raya open house for their building neighbours. Mushroom, Spinach and Beef Bacon Quiche (left). Beef Stroganoff (right). — Pictures courtesy of Trailside Treats A recent highlight was a Women's Trail Day Run with the International Trail Running Association (ITRA), attracting many first-time trail runners. While the café was created with active folks in mind, it's far from exclusive. Balmforth says, 'There is no reason why so-called 'casual' visitors can't join us – we have good food, good drinks – you don't need to be an athlete to enjoy that.' A book swap and a variety of health and wellbeing events keep things inclusive. Families from nearby preschools, building tenants and event attendees have become regulars too. Lee adds, 'Despite being intentional in focusing on customers with active lifestyles as our primary market, we also ensure that we build a warm and inviting space for the casual café customer to walk in and enjoy our delicious smoothies and food.' Running a café on top of full-time jobs and daily training might seem challenging, but the pair have their systems. The recent Women's Trail Day Run (left). Building a community at their café (right). — Pictures courtesy of Trailside Treats Lee believes in redefining the concept of balance. He explains, 'To me, balance means constantly doing things that give me energy. I could spend entire weekends at the cafe, or switching off and recovering in solitude, whichever gives me energy.' He adds, 'Business wise, we believe in hiring the right people to deliver the results and pay above market-rate to attract the right talent.' For Balmforth, routine and consistency — even with a hectic travel schedule — are non-negotiable. She puts it bluntly: 'If you want something so badly, you will make time. What if you woke up 30 minutes earlier, or didn't scroll on Instagram so much?' Lee hopes their approach might inspire other F&B ventures. 'We've seen many cafés pop up and close down shortly after because it's such a competitive market, and would like to show that being different and focusing on a particular community is a sustainable strategy.' At Trailside Treats, every plate and cup tells a story — of miles run, friends made, and the quiet satisfaction of good food enjoyed in good company. Trailside Treats G-3, Wisma Wim, 7, Jln Abang Haji Openg, Taman Tun Dr Ismail, KL Open Tue-Fri 8am-4pm, Sat 7am-3pm, Sun 7am-12pm, Mon closed Instagram: @trailsidetreats_my FB: @trailsidetreatsmy
The Star
an hour ago
- The Star
Solar overtakes the grid in Pakistan
PAKISTANIS are increasingly ditching the national grid in favour of solar power, prompting a boom in rooftop panels and spooking a government weighed down by billions of dollars of power sector debt. The quiet energy revolution has spread from wealthy neighbourhoods to middle- and lower-income households as customers look to escape soaring electricity bills and prolonged power cuts. Down a cramped alley in Pakistan's megacity of Karachi, residents fighting the sweltering summer heat gather in Fareeda Saleem's modest home for something they never experienced before – uninterrupted power. 'Solar makes life easier, but it's a hard choice for people like us,' she says of the installation cost. Saleem was cut from the grid last year for refusing to pay her bills in protest over enduring 18-hour power cuts. A widow and mother of two disabled children, she sold her jewellery – a prized possession for women in Pakistan – and borrowed money from relatives to buy two solar panels, a solar inverter and battery to store energy, for 180,000 rupees. As temperatures pass 40°C, children duck under Saleem's door and gather around the breeze of her fan. Mounted on poles above homes, solar panels have become a common sight across the country of 240 million people, with the installation cost typically recovered within two to five years. Fareeda enjoying 'uninterrupted power' after installing an inverter at her home in Karachi. — AFP Making up less than 2% of the energy mix in 2020, solar power reached 10.3% in 2024, according to the global energy think tank Ember. But in a remarkable acceleration, it more than doubled to 24% in the first five months of 2025, becoming the largest source of energy production for the first time. It has edged past gas, coal and nuclear electricity sources, as well as hydropower which has seen hundreds of millions of dollars of investment over the past decades. As a result, Pakistan has unexpectedly surged towards its target of renewable energy, making up 60% of its energy mix by 2030. Dave Jones, chief analyst at Ember, says Pakistan is 'a leader in rooftop solar'. Soaring fuel costs globally, coupled with demands from the International Monetary Fund to slash government subsidies, led successive administrations to repeatedly hike electricity costs. Prices have fluctuated since 2022 but peaked at a 155% increase and power bills sometimes outweigh the cost of rent. 'The great solar rush is not the result of any government's policy push,' said Muhammad Basit Ghauri, an energy transition expert at Renewables First. 'Residents have taken the decision out of clear frustration over our classical power system, which is essentially based on a lot of inefficiencies.' Pakistan sources most of its solar equipment from neighbouring China, where prices have dropped sharply, largely driven by overproduction and tech advancements. But the fall in national grid consumers has crept up on an unprepared government burdened by US$8bil of power sector debt, analysts say. Pakistan depends heavily on costly gas imports, which it sells at a loss to national energy providers. Arsalan Arif, a local businessman, cleaning solar panels installed on his house's rooftop in Pakistan's port city of Karachi. — AFP It is also tied into lengthy contracts with independent power producers, including some owned by China, for which it pays a fixed amount regardless of actual demand. A government report in March said the solar power increase has created a 'disproportionate financial burden onto grid consumers, contributing to higher electricity tariffs and undermining the sustainability of the energy sector'. Electricity sales dropped 2.8% year-on-year in June, marking a second consecutive year of decline. In June, the government imposed a new 10% tax on all imported solar while the energy ministry has proposed slashing the rate at which it buys excess solar energy from consumers. 'The household solar boom was a response to a crisis, not the cause of it,' said analyst Jones, warning of 'substantial problems for the grid' including a surge during evenings when solar users who cannot store energy return to traditional power. The national grid is losing paying customers like businessman Arsalan Arif. A third of his income was spent on electricity bills at his Karachi home until he bought a 10-kilowatt solar panel for around 1.4 million rupees. 'Before, I didn't follow a timetable. I was always disrupted by the power outages,' he said. Now he has 'freedom and certainty' to continue his catering business. In the eastern city of Sialkot, safety wear manufacturer Hammad Noor switched to solar power in 2023. Since then he has been calling it his 'best business decision'. He broke even in 18 months and is now saving one million rupees every month. The cost of converting Noor's second factory has now risen by nearly 1.5 million rupees under the new government tax. 'The tax imposed is unfair and gives an advantage to big businesses over smaller ones,' he said. 'Policymakers seem completely disconnected from the public and business community.' — AFP
The Star
an hour ago
- The Star
When cash isn't king
CASH is the lifeblood of Gaza's shattered economy – and, like food, fuel and medicine, it is in desperately short supply. With nearly every bank branch and ATM inoperable, residents have become reliant on a growing network of powerful, unregulated cash brokers. Their commissions have soared to as much as 40%. 'The people are crying blood because of this,' said Ayman al-Dahdouh, a school director in Gaza City. 'It's suffocating us, starving us.' In a territory reeling from inflation, unemployment and dwindling savings, the cash crunch has made daily survival even more precarious. Some families are selling off possessions just to afford essentials like flour and sugar. And even the available cash is losing value – not in exchange rate, but in physical condition. Most Palestinians in Gaza use the Israeli shekel, but Israel is no longer sending in newly printed notes. Merchants increasingly reject frayed or damaged bills. Israel banned cash deliveries into Gaza early in the war in a bid to weaken Hamas. Around the same time, many wealthy families fled the enclave, emptying their accounts. A Palestinian man repairing worn-out Israeli currency. — AP Meanwhile, foreign businesses began demanding cash up front for goods, fearing Gaza's financial instability. As the money supply shrank, cash brokers – once charging a modest 5% – began demanding far more. Today, transferring the equivalent of US$100 might get you only US$60 in hand. 'If I need US$60, I have to transfer US$100,' said Mohammed Basheer al-Farra, who was displaced from Khan Yunis. 'We lose nearly half our money just to be able to spend it.' Brokers operate in the open, advertising services in shops and online. Some grocers and retailers also moonlight as informal money changers. The system is rife with desperation and abuse. 'People are at their mercy,' said Mahmoud Aqel, a displaced resident of southern Gaza. 'No one can stop them.' Inflation in Gaza surged 230% in 2024, according to the World Bank. After a brief dip during a ceasefire in January, it rose again when the truce collapsed in March. By year's end, about 80% of the population was unemployed – a number likely even higher now. Most of the few who do work are paid by direct deposit, but that means little in a cash-only economy. 'When you want to buy vegetables, food, water, medication – if you want to take transportation, or need a blanket – you must use cash,' said al-Dahdouh. Shahid Ajjour's family has survived on savings since the war destroyed their pharmacy and other businesses. She sold her gold jewellery to buy basic goods. The family of eight now spends US$12 every two days on flour – triple the pre-war cost. Sugar, once US$2 a kilogramme, now costs up to US$100, several people said. Petrol sells for around US$25 per litre. Broken Arab Bank ATMs in Gaza City. — AP After 21 months of war, Gaza's banknotes are literally falling apart. 'Money is so fragile, it feels like it's going to melt in your hands,' said Mohammed al-Awini, who lives in a tent camp in southern Gaza. Small business owners are under pressure to accept only crisp, undamaged bills – because their suppliers demand the same. Thaeir Suhwayl, a flour merchant in Deir al-Balah, said his suppliers insist on brand-new 200-shekel notes (around US$60), which are rare. Civilians usually hand him ragged 20-shekel notes (about US$6). On a recent trip to the market, Ajjour transferred US$100 to a broker and received about US$50. But the merchant refused the worn bills. 'So the worth of your US$50 is zero in the end,' she said. The shortage of acceptable currency has sparked a strange new business: banknote repair. In Gaza, it now costs between 3 and 10 shekels (US$1–US$3) to patch up a tattered bill. But even taped-up notes are often rejected. To ease the crisis, the Palestine Monetary Authority introduced a digital payment system, Iburaq, in 2023. It attracted about half a million users – roughly a quarter of the population – but most merchants refuse digital payment, insisting on cash. Efforts to regulate prices or exchange rates have collapsed. 'Nobody can physically monitor what's happening,' said Dalia Alazzeh, a finance expert at the University of the West of Scotland. Israel has meanwhile tightened restrictions on humanitarian aid, citing claims that Hamas siphons off goods to resell. It's unclear if the cash broker system directly benefits Hamas, said Omar Shabaan, director of Palthink for Strategic Studies, a Gaza-based think tank. 'It's a dark place now. You don't know who is bringing cigarettes into Gaza. It's like a mafia.' The same deep-pocketed traders who bring in goods may also be running the cash operations and raking in commission. 'They benefit by imposing these commissions,' he said. For many, the only remaining option is humanitarian aid. 'This is the only way I can feed my family,' said al-Farra, who now visits food distribution centres, where crowds jostle for sacks of flour and boxes of pasta. Once, his family paid for everything in cash. Now, the worth of that cash is shrinking – or unusable. — AP
