Malaysia’s 2027 spending plan, unveiled by Prime Minister Anwar Ibrahim, aims to boost retail and tourism while raising the minimum wage to 2,000 ringgit. The government will distribute 16 billion ringgit in cash aid and maintain 40 billion ringgit in fuel subsidies. The ringgit rose 0.2% to 4.0850 per dollar, and the stock benchmark gained 0.5%.
Retailers like 99 Speed Mart and Eco-Shop may benefit from increased consumer spending. Tourism gets 935 million ringgit, aiding Genting and Air Asia. Borneo states receive record allocations, boosting firms like Dayang Enterprise.
However, plantations and glove makers face higher labor costs. E-commerce giants like Shopee and Lazada may be impacted by new regulations. High-income earners will see the 30% tax rate threshold lowered to 1 million ringgit.
Source: Bloomberg Markets · Summarized by HeadlinesBriefing