Tag: ASEAN

UMNO Among ASEAN’s Oldest Political Parties As It Turns 80 – Ahmad Zahid

KUALA LUMPUR, April 10 -- UMNO president Datuk Seri Dr Ahmad Zahid Hamidi said UMNO, which is approaching its 80th anniversary, remains one of the oldest political parties in the Southeast Asian (ASEAN) region, with a legacy of struggle that reflects resilience and a key role in national development. The Deputy Prime Minister said that throughout its long history, UMNO has undergone various phases of struggle and shifts in the political landscape, reflecting its experience, resilience and key role in national development. "As time passes, efforts to produce capable leaders are very important to ensure the continuity of the struggle and remain relevant in the future," he posted on Facebook today. Ahmad Zahid, who is also Barisan Nasional (BN) chairman, posted this in conjunction with UMNO's 80th anniversary. According to the post, UMNO, which was founded in 1946, will reach eight decades this year, putting it on par with several long-established political parties in ASEAN, including Thailand's Democrat Party, as well as Singapore's People's Action Party, which is 70 years old, and Indonesia's Golkar Party, which is 60 years old.

KUALA LUMPUR, April 10 — UMNO president Datuk Seri Dr Ahmad Zahid Hamidi said UMNO, which is approaching its 80th anniversary, remains one of the oldest political parties in the Southeast Asian (ASEAN) region, with a legacy of struggle that reflects resilience and a key role in national development. The Deputy Prime Minister said that […]

Malaysia Urged To Strengthen ASEAN Centrality Amid Global Uncertainties

KUALA LUMPUR, April 10 -- Malaysia must continue to strengthen the concept of ASEAN Centrality and ASEAN Vision 2045 as catalysts for regional cooperation in facing increasingly challenging global geopolitical uncertainties, particularly conflicts in West Asia, according to experts. Cyber warfare expert and security and political analyst at the Centre for Media and Information Warfare Studies, Universiti Teknologi MARA (UiTM), Dr Noor Nirwandy Mat Noordin, said that although ASEAN was not a military-based alliance, it played a significant role in maintaining stability through continuous and principled diplomatic approaches. He said the approach was crucial to ensure ASEAN member states remained united and capable of acting collectively in addressing external pressures, including geopolitical conflicts and major power rivalries. “Malaysia is capable of steering this diplomatic approach to ensure alignment in thinking among ASEAN leaders, thereby making the ASEAN Centrality concept a fundamental bulwark against regional threats,” he told Bernama. Prime Minister Datuk Seri Anwar Ibrahim had previously stressed that Malaysia must adopt a prudent diplomatic approach in facing global economic uncertainties that affected supply chains and commodity prices. The Prime Minister said that while Malaysia maintained a firm stance on international issues, trade and economic relations with major world powers must be managed strategically, while maintaining good ties with various countries without compromising national interests. Elaborating further, Noor Nirwandy said Malaysia must maintain a neutral policy as the foundation of its international relations, while strengthening national defence in terms of mindset, assets and overall defence cohesion. “However, the most important aspect is diplomacy and ASEAN unity as the region’s main strength,” he said, stressing that strong diplomatic capabilities could prevent tensions from escalating into open conflict. He emphasised that efforts to strengthen national resilience should not only focus externally, but must also be supported by internal strength, including unity among the people and social cohesion. “A security-oriented mindset (awareness in managing security risks to protect the nation) will prevent unnecessary debates over trivial issues amid challenging geopolitical and economic uncertainties,” he said. According to Noor Nirwandy, the government must also empower society through a strategic communication plan based on patriotism and national unity, while producing more leaders who serve as agents of unity. “Concepts such as ‘Malaysia MADANI’ and unity of thought grounded in patriotism must be strengthened with the support of leaders and community figures to ensure the people are better prepared to face any unexpected challenges, including global economic crises or regional conflicts, without affecting national stability. “Malaysia currently has strong political resilience, but society must continue to support national development and build a security mindset. Politicians, whether from the government or opposition, must prioritise national security issues and geopolitical threats with a more unified approach,” he said. Noor Nirwandy added that Malaysia could remain a peaceful, stable and resilient nation amid global uncertainties through a combination of diplomatic strength, neutrality and strong national unity. Meanwhile, a lecturer at the Centre for Social Sciences Studies, Universiti Sains Malaysia, Prof Datuk Dr P. Sivamurugan, said Malaysia, as a small and medium-sized country, must act wisely and not rely solely on vocal assertiveness. He said key strategies included practising a neutral policy to ensure Malaysia remained balanced in its relations with major powers, while strengthening economic diversification efforts to reduce reliance on specific sectors and enhance resilience against external shocks. He added that strengthening food and energy security should be prioritised to ensure a stable and sustainable supply, while multilateral diplomacy must be reinforced with ASEAN as a collective safeguard in maintaining stability. “Domestic unity must also continue to be strengthened to avoid political divisions and ensure national stability is preserved. “Small nations do not prevail through strength, but through wisdom and balance,” he said, stressing the importance of a cautious yet effective strategic approach. While noting that Malaysia had strong political resilience based on a mature democratic system, functioning institutions, a diversified economy and experience in managing past crises, Sivamurugan said risks such as political and ethnic polarisation, internal instability that could be manipulated, and public political fatigue could undermine national resilience. -- BERNAMA

KUALA LUMPUR, April 10 — Malaysia must continue to strengthen the concept of ASEAN Centrality and ASEAN Vision 2045 as catalysts for regional cooperation in facing increasingly challenging global geopolitical uncertainties, particularly conflicts in West Asia, according to experts. Cyber warfare expert and security and political analyst at the Centre for Media and Information Warfare […]

BNM Governor: Strong Economic Foundations Key to Navigating Global Uncertainty

KUALA LUMPUR: Strengthening economic fundamentals and policy buffers in the face of global trade uncertainties is an important step to ensure continued growth and, in turn, guarantee the well-being of the people, said Bank Negara Malaysia (BNM) Governor Datuk Seri Abdul Rasheed Ghaffour. He said that improvements in fiscal sustainability and attracting quality investment have created space to continue implementing much-needed reforms in social protection and the labor market. "These reforms may require some short-term adjustments, but these adjustments are necessary to ensure more inclusive growth and provide benefits to the people, including future generations," he said in the BNM 2025 Annual Report released here today. The central bank projects Malaysia's Gross Domestic Product (GDP) to grow between four percent and five percent in 2026 as Malaysia's domestic resilience and diversified export structure provide a strong foundation to face external challenges. Malaysia's path towards becoming a high-income developed nation must be built on the foundation of shared prosperity. “We need to build an economy that creates higher-paying jobs, supports households and businesses, and remains resilient for decades to come,” said the Governor. Abdul Rasheed said the financial sector remained effective in moving funds between savers and borrowers. “Financial institutions remain well-capitalized and operationally resilient, supported by more than adequate liquidity buffers and good asset quality. "This ensures continued access to financing for households and businesses, thus supporting consumption, investment and sources of income," he said. Looking ahead, he said in an increasingly fragmented world, ASEAN could be a source of strength. In the face of significant global trade tensions, ASEAN's united commitment to provide a prudent and constructive response reflects this principle. For Malaysia, being part of a region that upholds cooperation and stability is an important core in facing an increasingly complex global landscape. In this regard, BNM is leading efforts to advance more integrated regional financial and economic integration through the Financial Track. The regional payment network continues to expand, with 29 payment networks now operating across ASEAN member countries. “Now, tourists making purchases or small businesses selling products across borders can make and receive payments faster, more securely and at a lower cost. "This development reduces friction, expands opportunities and supports the income sources of the ASEAN community," he said. He said ASEAN's ability to respond collectively to external shocks has also been strengthened, including through the enhancement of the Chiang Mai Multilateralisation Initiative as well as several key strategies under the ASEAN Geoeconomic Task Force. All of these measures strengthen ASEAN's ability to act together against external shocks, thus creating an additional layer of resilience to face global uncertainties. "For BNM, the priority will continue to be on preparedness to face the challenges ahead, without neglecting the long-term priorities of enhancing economic prospects and preserving the country's resilience," he said. Abdul Ghaffour said the Monetary Policy Committee will continue to closely monitor developments and assess the balance of risks to the growth and inflation outlook. "BNM also continues to stand ready, as it has done throughout several episodes of significant uncertainty, to ensure that the market remains orderly and manage the risk of excessive volatility," he said. With the Financial Sector Plan 2022–2026 entering its final phase, implementation will be accelerated in line with efforts to develop the next direction for Malaysia's financial sector. "BNM will implement efforts to further facilitate innovation, including in new areas such as digital finance, stablecoins and climate adaptation in a safe and responsible manner," he said.

KUALA LUMPUR — Strengthening economic fundamentals and policy buffers remains crucial for Malaysia to sustain growth and safeguard public well-being amid global trade uncertainties, said Abdul Rasheed Ghaffour, Governor of Bank Negara Malaysia. Speaking in conjunction with the release of the BNM 2025 Annual Report, he highlighted that ongoing improvements in fiscal sustainability and the […]

ASEAN Fuel Prices Rise Amid Global Oil Surge, Highlighting Policy Gaps Across Region

KUALA LUMPUR: Fuel prices across Southeast Asia are trending upward as global crude oil costs climb, exposing stark differences in pricing systems among ASEAN nations. The divergence reflects varying subsidy policies, tax regimes, and levels of exposure to international energy markets. The increase comes against a backdrop of heightened geopolitical tensions in West Asia, which have disrupted supply chains and pushed benchmark crude prices beyond US$100 per barrel. Key shipping routes, particularly the Strait of Hormuz, have also been affected, adding further strain to global energy flows. These developments are placing pressure on domestic fuel pricing mechanisms across the region, revealing a widening gap between countries that rely heavily on subsidies and those that allow prices to fluctuate with global markets. Malaysia continues to maintain some of the lowest fuel prices in ASEAN due to sustained government subsidies. RON95 petrol remains capped at RM1.99 per litre, shielding consumers from international price volatility. Recently, Prime Minister Datuk Seri Anwar Ibrahim announced a temporary revision to the Budi MADANI RON95 (BUDI95) programme, reducing the monthly quota from 300 litres to 200 litres effective April 1. Despite this adjustment, the subsidised price will remain unchanged. In Indonesia, subsidised fuel prices range between IDR12,000 and IDR12,390 (RM2.91–RM2.93) per litre, reflecting continued reliance on government support. However, analysts caution that prolonged high global prices could strain public finances. Singapore, on the other hand, continues to record the highest petrol prices in the region at approximately S$3.42 (RM10.64) per litre. This is largely due to high taxation and policies designed to limit private vehicle ownership. Authorities there have indicated that fuel supplies remain stable for now, though the situation is being closely monitored. Meanwhile, Thailand, Vietnam, and the Philippines fall within a mid-range pricing group, with rates more closely aligned to global benchmarks. Thailand recently saw fuel prices rise following a reduction in subsidies, while Vietnam manages prices through periodic government reviews to reduce volatility. In the Philippines, a fully deregulated fuel market results in weekly price adjustments, leaving consumers more directly affected by global price movements. Cambodia and Laos are among the most vulnerable, with petrol prices exceeding US$1.10 (RM4.41) per litre due to heavy reliance on imported refined fuel. Limited domestic refining capacity makes both countries particularly sensitive to supply disruptions and currency fluctuations. In Cambodia, fuel costs have surged sharply in recent weeks. Diesel prices have jumped by more than 80 percent since late February, reaching 7,100 riel (RM7.10) per litre, up from 3,750 riel (RM3.80). Regular gasoline has also risen significantly to 5,450 riel (RM5.50) per litre. Liquefied petroleum gas is currently priced at 3,200 riel (RM3.20) per litre, according to official data. As global uncertainties persist, ASEAN governments are expected to face increasing scrutiny over their fuel pricing strategies, particularly in balancing fiscal sustainability with the need to cushion consumers from rising living costs. -- Minutes MY / Igneseous Noris

KUALA LUMPUR: Fuel prices across Southeast Asia are trending upward as global crude oil costs climb, exposing stark differences in pricing systems among ASEAN nations. The divergence reflects varying subsidy policies, tax regimes, and levels of exposure to international energy markets. The increase comes against a backdrop of heightened geopolitical tensions in West Asia, which […]