Cheer for corporate sector in the absence of prosperity tax: Wahid Omar

Bursa Malaysia chairman Tan Sri Abdul Wahid Omar

KUALA LUMPUR: The absence of prosperity tax in Budget 2023, which could have potentially shaved five to six per cent of the 2023 earnings of the FTSE Bursa Malaysia KLCI’s (FBM KLCI) component stocks, provided a huge relief for the corporate sector, Bursa Malaysia Chairman Tan Sri Abdul Wahid Omar said.

"Without prosperity tax being imposed, analysts have a consensus forecast earnings per share (EPS) growth rate of 20.1 per cent for 2023 compared to a negative 1.3 per cent for 2022.