KUALA LUMPUR (Oct 14): E-wallet linked stocks on Bursa Malaysia rose this morning, following the boost from Budget 2020 to e-wallet sub-sector initiatives.
At 10.18am, Revenue Group shares added 2.61% or 4 sen to RM1.57, while Green Packet was up 4.2% or 3 sen to 74.5 sen.
In a strategy note this morning, Kenanga IB Research said the technology sector was a clear winner from Budget 2020.
"Technology gains because of generous grant incentives for digitalisation of SMEs operations coupled with 10-year tax exemptions for selected E&E companies, incentive for adoption of e-wallet and extended period of capital allowances for automation initiatives," it said.