BURSA Malaysia opened on a positive note today, following the passing of Budget 2021 at the policy stage.

At 9.01am, FTSE Bursa Malaysia KLCI (FBM KLCI) was up by 5.63 points to 1,617.74 from yesterday’s close of 1,612.11.

The index opened 3.09 higher at 1,615.20.

It, however, retreated to 1,611.64 at 9.16am.

Khind Holdings Bhd, Malaysian Pacific Industries Bhd and KESM Industries Bhd were the top three gaining counters.

Dutch Lady, IqQ Group Holdings and Public Bank Bhd emerged as the top losers.

Perikatan Nasional scored a major victory yesterday when it managed to pass Budget 2021 after making several adjustments.

After 13 days of debate, the lower house passed next year’s budget at the policy stage (second reading) by voice vote at 3.26pm.

Parliament will begin debating Budget 2021 at the committee stage next Monday, when the expenditure of each ministry will be scrutinised.

Though the budget has passed the policy stage, it could falter at the committee stage as each ministry’s allocation has to be voted on to be approved.

PN must ensure there are enough members in the Dewan Rakyat chamber as the opposition could call for a division vote in a bid to scupper the budget funding for each ministry.

The RM322.5billion supply bill is the largest in the country’s history. – November 27, 2020.