Double high

on 23.05.2007

KUALA LUMPUR: Shares on Bursa Malaysia surged to a new high yesterday as investors welcomed the pay increase announced by the Prime Minister for the nation's 1.6 million civil servants and pensioners as a big boost to the economy.

At the close, the benchmark Kuala Lumpur Composite Index (KLCI) soared 20.34 points, or 1.5% to a record 1,367.51.

Second Finance Minister Tan Sri Nor Mohamed Yakcop said yesterday the pay increase would add as much as half a percentage point to the country's economy and accelerate growth in the second half of this year.

Meanwhile, the ringgit continued to strengthen yesterday and hit 3.382 against the US dollar. The currency had risen 4.1% year-to-date.

Ministry suspends school milk programme

PUTRAJAYA: The Education Ministry has suspended its school milk programme nationwide following several cases of food poisoning in schools around the country.

Schools Division director Noor Rezan Bapoo Hashim said the temporary suspension took effect from Monday.

The ministry, she said, wanted all relevant parties to seriously look into the school milk programme.

“It has directed that all milk found to be contaminated must be returned to the factories. Replacement stock supplied to schools must have quality verification from Sirim,” she added in a statement on Tuesday.

Noor Rezan said the suspension would only be lifted when Sirim gave the green light.