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Bursa Malaysia ended broadly lower after a lacklustre trading session as investors seemed reluctant to make significant moves due to the absence of buying catalyst, said Rakuten Trade Sdn Bhd vice president of equity research Thong Pak Leng. ....
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The lack of local economic data releases this week may be offset by developments elsewhere in the country. In parliament this week, the Dewan Rakyat will continue to debate at the committee stage the Budget 2021 allocation for the defence, education and home ministries. Once voted upon, the budget will move to the Senate for the final vote. On Monday, at the Kuala Lumpur High Court, the hearing of the Malaysian government’s forfeiture bid to recover US$340.26 million (about RM1.4 billion) from PetroSaudi International Ltd and its subsidiary PetroSaudi Oil Services (Venezuela) Ltd (PSOSL) is scheduled before Judge Mohd Nazlan Mohd Ghazali. The hearing had been adjourned twice as PSOSL is said to be seeking a settlement with Putrajaya. ....