Tag: economic

Gobind Singh Deo: Malaysia MADANI AI Initiative to Drive Economic Growth Through Strategic Global Partnerships

KUALA LUMPUR, June 11 — Malaysia MADANI Artificial Intelligence (MMAI) will play a key role in achieving the nation's economic objectives through collaboration with leading global technology companies to strengthen digital sovereignty, secure cloud infrastructure and artificial intelligence (AI) capabilities, said Digital Minister Gobind Singh Deo,yesterday. Gobind said the initiative's progress and future direction were among the key topics presented by the National Cyber Security Agency (NACSA) and the National Security Council (MKN) during the MMAI Supreme Council Meeting held today. According to him, the initiative is designed to position Malaysia as a regional leader in digital innovation while supporting the country's broader economic transformation agenda through advanced technologies. “The presentation by NACSA and MKN touched on the status and direction of the implementation of this initiative. Integrated cooperation across these agencies is essential to ensure its effective planning and implementation and to deliver a significant impact in the future,” he said in a statement. Gobind emphasised that strong coordination among government agencies and stakeholders is critical to ensuring the successful execution of MMAI, which aims to build a resilient and secure digital ecosystem for the country. The MMAI initiative is expected to enhance Malaysia’s competitiveness in the digital economy by fostering innovation, strengthening cybersecurity capabilities and accelerating the adoption of AI-driven solutions across various sectors. -- MINUTESMY -- SOURCE: FB GOBIND SINGH DEO

KUALA LUMPUR, June 11 — Malaysia MADANI Artificial Intelligence (MMAI) will play a key role in achieving the nation’s economic objectives through collaboration with leading global technology companies to strengthen digital sovereignty, secure cloud infrastructure and artificial intelligence (AI) capabilities, said Digital Minister Gobind Singh Deo,yesterday. Gobind said the initiative’s progress and future direction were […]

Political Stability Should Not Depend on Single-Party Dominance

JOHOR BAHRU, June 4 — Johor DAP has cautioned against a return to single-party political dominance, arguing that long-term stability is better achieved through power-sharing, checks and balances, and cooperation among different political parties. In a statement today, Johor DAP Vice Chairman and Pakatan Harapan Johor Communications Director Sheikh Umar Bagharib Ali said recent remarks by Johor Menteri Besar Datuk Onn Hafiz Ghazi, expressing Barisan Nasional’s (BN) intention to contest all 56 Johor state seats, have raised questions about the possibility of restoring a political landscape dominated by a single party. According to Sheikh Umar, while BN’s ambition reflects its confidence and desire to form a strong and stable state government, excessive political dominance could lead to an imbalance of power and weaken democratic oversight. “Political stability does not necessarily require absolute control by one party. Stability can also be achieved through cooperation, shared responsibility and unity among parties representing different backgrounds and interests,” he said. He pointed to Malaysia’s political experience before 2018, when BN’s dominance was so entrenched that many Malaysians viewed a change of government through elections as nearly impossible. “This created a culture of political fear, where voters were often led to believe that a change in government would result in instability,” he said. Sheikh Umar said developments since the 2018 general election had demonstrated the importance of healthy political competition, effective checks and balances, and public confidence in democratic transitions of power. He also cited concerns over the recent appointment of five nominated assemblypersons ahead of the dissolution of the Johor State Legislative Assembly. While acknowledging that the appointments were lawful, he questioned whether they were necessary given the government’s existing strong majority, adding that the move had created perceptions that differing views were not adequately considered. He further noted that the decision to hold a separate Johor state election instead of aligning it with the next general election had sparked debate, particularly amid economic uncertainties linked to ongoing geopolitical tensions in West Asia. According to Sheikh Umar, some observers believe a standalone state election could impose additional costs on both the government and taxpayers. He said Johor and Malaysia have benefited from the current power-sharing approach at the federal level, citing development initiatives such as data centre investments, the Rapid Transit System (RTS) Link project, the Johor-Singapore Special Economic Zone (JS-SEZ), and various socio-economic assistance programmes. “The political landscape has changed significantly since GE14. The idea that only one party can provide a stable and effective government is no longer the only model available,” he said. Sheikh Umar stressed that ensuring a balance of power, maintaining effective checks and balances, and fostering political cooperation would be more important in securing Johor’s long-term stability and prosperity than allowing any single party to dominate the political system.  -- MINUTESMY  --PRESSKL

JOHOR BAHRU, June 4 — Johor DAP has cautioned against a return to single-party political dominance, arguing that long-term stability is better achieved through power-sharing, checks and balances, and cooperation among different political parties. In a statement today, Johor DAP Vice Chairman and Pakatan Harapan Johor Communications Director Sheikh Umar Bagharib Ali said recent remarks by […]

PM Anwar Ibrahim — Strong Saudi Ties Boost Confidence To Navigate Current Economic Challenges

KUALA LUMPUR, May 29 -- Prime Minister Datuk Seri Anwar Ibrahim today said Malaysia’s strong relationship with Saudi Arabia continues to strengthen confidence in the country’s ability to navigate the current global economic challenge. He said the close ties between the two countries were recently reaffirmed through a personal message from Saudi Arabia’s Crown Prince and Prime Minister Mohammed bin Salman. “I received a personal text message from His Royal Highness Crown Prince Mohammed bin Salman last week, assuring continued excellent relations between our two countries. This gives us confidence to continue focusing on the development of this country," he said when launching the 2026 Kuala Lumpur International Book Fair (KLIBF) here today. Anwar said Malaysia has also been able to manage ongoing economic pressures and remains assured of adequate crude oil and diesel supplies despite uncertainties in the global economy. “Despite the economic pressures, Alhamdulillah, we have been able to manage them well. We have enough crude oil and diesel supplies, and we enjoy excellent relations with the Kingdom of Saudi Arabia,” he said. Nevertheless, the prime minister acknowledged that the government still needs to address the impact of rising prices on the people, but stressed that the government would manage the situation wisely. -- BERNAMA

KUALA LUMPUR, May 29 — Prime Minister Datuk Seri Anwar Ibrahim today said Malaysia’s strong relationship with Saudi Arabia continues to strengthen confidence in the country’s ability to navigate the current global economic challenge. He said the close ties between the two countries were recently reaffirmed through a personal message from Saudi Arabia’s Crown Prince […]

KUSKOP Financing Agencies Go To The Ground To Reach MSMEs, In Line With PM’s Call – Sim

GEORGE TOWN, May 24 -- The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) is mobilising four of its financing agencies to go to the ground and engage micro, small and medium enterprises (MSMEs) by providing advisory services and direct financing assistance. Its Minister, Steven Sim, said the four agencies are the National Entrepreneur Group Economic Fund (TEKUN Nasional), Amanah Ikhtiar Malaysia (AIM), SME Bank and Bank Rakyat, which are regularly deployed, including during the nationwide KUSKOP MADANI Sales programme. He said the move is also in line with Prime Minister Datuk Seri Anwar Ibrahim’s call for microcredit agencies to be more proactive in reaching out to the public and entrepreneurs. “We always go to the ground, provide face-to-face advisory services, and, if anyone is interested in registering with complete documents, they can apply on the spot. “So, we do not wait for customers to come to the office. Instead, we seek out customers, entrepreneurs and petty traders to provide assistance to them,” he told reporters after officiating the Family Day Carnival held in conjunction with the Sungai Pinang state constituency KUSKOP MADANI Sales programme today. Also present was chairman of the state Social Development, Welfare and Non-Muslim Affairs Committee Lim Siew Khim, who is also the Sungai Pinang assemblywoman. Yesterday, Anwar called on relevant agencies to intensify efforts to go to the ground and provide information to small and medium enterprises (SMEs) on financing facilities and assistance offered by the government. The Finance Minister said this was important to ensure the group does not miss out on various initiatives specifically designed to help increase income and expand businesses. Meanwhile, Sim said KUSKOP is always open to discussions with MSMEs facing cash flow problems or affected by economic crisis and disasters. He said this includes assistance through moratoriums and loan repayment rescheduling, which are part of the ministry’s efforts to support MSMEs. According to him, the non-performing loan (NPL) rate involving financing agencies under KUSKOP has also shown improvement over the past one to two years, with fewer borrowers defaulting on repayments. -- BERNAMA

GEORGE TOWN, May 24 — The Ministry of Entrepreneur Development and Cooperatives (KUSKOP) is mobilising four of its financing agencies to go to the ground and engage micro, small and medium enterprises (MSMEs) by providing advisory services and direct financing assistance. Its Minister, Steven Sim, said the four agencies are the National Entrepreneur Group Economic […]

PM Anwar Ibrahim: Investments Must Benefit Malaysians, Not Just Boost Economic Numbers

KUALA LUMPUR, May 23 — Prime Minister Anwar Ibrahim said Malaysia must ensure incoming investments contribute directly to strengthening local industries, improving workforce skills and raising the people’s standard of living, rather than merely increasing economic figures on paper. Speaking at the Forum of Malaysian Scientists MADANI Series 12 held at the Securities Commission Malaysia last night, Anwar said the discussion focused on how Malaysia can position itself more effectively amid the changing landscape of global capital flows. He noted that recent indicators showed encouraging developments, with economic growth, investments and capital markets continuing to record positive momentum, in some areas exceeding initial forecasts. However, the Prime Minister stressed that economic success should not be measured solely through macroeconomic data. According to Anwar, investments entering the country must help build the capacity of local companies, strengthen small and medium enterprises (SMEs), improve citizens’ skills and create meaningful employment opportunities. He added that the MADANI Government remains committed to ensuring that growth is inclusive and benefits all segments of society, including small traders, workers, youths and communities in rural and interior areas. Anwar said Malaysia is currently at an important crossroads as global capital flows continue to evolve and economic resilience increasingly becomes a key factor in national competitiveness. He emphasised that reforms, good governance, fiscal discipline and efforts to strengthen national capacity must continue to be reinforced to secure sustainable growth. The Prime Minister also reaffirmed the government’s commitment to ensuring that the country’s progress is not only reflected in economic statistics but genuinely felt by Malaysians across the nation -- MINUTESMY -- SOURCE: FB ANWAR IBRAHIM

KUALA LUMPUR, May 23 — Prime Minister Anwar Ibrahim said Malaysia must ensure incoming investments contribute directly to strengthening local industries, improving workforce skills and raising the people’s standard ofC, rather than merely increasing economic figures on paper. Speaking at the Forum of Malaysian Scientists MADANI Series 12 held at the Securities Commission Malaysia last […]

PM Anwar Calls For Stronger Economic Diplomacy Among Malaysian Envoys

KUALA LUMPUR, MAY 20 -- Prime Minister Anwar Ibrahim today received a courtesy visit from 13 Malaysian Chief Diplomatic Representatives who will soon serve in various strategic regions across the globe. During the meeting, Anwar stressed the importance of strengthening the nation’s economic diplomacy capabilities, particularly in attracting high-quality investments, expanding trade opportunities, and exploring strategic international cooperation that can sustainably drive Malaysia’s economic growth. He said diplomats today must go beyond mastering official protocols and bilateral relations, emphasizing that effective diplomacy also requires a deep understanding of history, culture, political systems, and the social nuances of host countries to ensure more meaningful engagement. The Prime Minister also highlighted the importance of continuously nurturing and empowering the younger generation of diplomats with broad knowledge, critical thinking, and the ability to navigate increasingly complex geopolitical and global economic challenges. Anwar reaffirmed that Malaysia remains committed to the principles of simplicity, stability, good governance, and a diplomatic approach rooted in wisdom and universal humanitarian values in carrying the nation’s voice onto the global stage. -- MINUTESNMY -- SOURCE: FB ANWAR IBRAHIM

KUALA LUMPUR, MAY 20 — Prime Minister Anwar Ibrahim today received a courtesy visit from 13 Malaysian Chief Diplomatic Representatives who will soon serve in various strategic regions across the globe. During the meeting, Anwar stressed the importance of strengthening the nation’s economic diplomacy capabilities, particularly in attracting high-quality investments, expanding trade opportunities, and exploring […]

Bank Muamalat Sets MBR Record With Financial Literacy Programme At Highest Altitude

KUALA LUMPUR, May 18– Bank Muamalat Malaysia Berhad (Bank Muamalat) has strengthened its commitment to empowering communities after successfully setting a national record through its ‘Jom Bijak Wang’ programme, recognised by the Malaysia Book of Records (MBR). The programme received recognition as the Highest Altitude Financial Literacy Programme in a Skyscraper following its organisation on […]

Malaysia’s GDP growth expected to moderate to 4.2 percent in 2026 – MBSB IB

KUALA LUMPUR: Malaysia's Gross Domestic Product (GDP) growth is expected to moderate to 4.2 percent this year compared to 5.2 percent in 2025, driven by increasing domestic demand alongside remaining resilient external demand, according to MBSB Investment Bank Bhd (MBSB IB). The investment bank said the outlook for foreign trade remained cautious as weaker global demand in a high inflation environment could dampen export momentum.\ However, continued energy price shocks and potential disruptions to trade flows in West Asia could put pressure on global supply chains and increase the risk of shortages of petroleum-related products. “In addition, tighter United States (US) trade policies could continue to affect external demand, particularly if new tariffs are imposed on semiconductor products, thus posing a downside risk to Malaysia's electrical and electronics (E&E) exports. “Domestically, growth prospects may also face pressure from weaker consumer and business sentiment as well as rising pricing pressures, with companies expected to pass on higher production costs to consumers,” said MBSB IB in its research note. According to the investment bank, although domestic growth remains strong, the ringgit continues to face challenges against a strong US dollar. At the same time, the “higher rates for longer than expected” narrative in the US is gaining traction, with demand for dollar-denominated assets increasing. Some market players expect the likelihood of higher interest rate hikes following renewed inflation concerns in the US to potentially support the US dollar index in the short term, as supply-side inflationary pressures remain a concern. Going forward, MBSB IB expects the local currency to strengthen throughout 2026, as the ringgit's recent resilience reflects increased confidence in Malaysia's macroeconomic management as well as stronger economic fundamentals. “However, this prospect (further ringgit strengthening) faces challenges from a resurgent US dollar as market participants factor in a 'no rate cut' scenario for this year, driven by ongoing oil price shocks and rising geopolitical tensions in West Asia. "Currently, we maintain our ringgit forecast for 2026, with an expected stronger average of around RM3.92 and closing at around RM3.85 by year-end," he said. -- BERNAMA

KUALA LUMPUR: Malaysia’s Gross Domestic Product (GDP) growth is expected to moderate to 4.2 percent this year compared to 5.2 percent in 2025, driven by increasing domestic demand alongside remaining resilient external demand, according to MBSB Investment Bank Bhd (MBSB IB). The investment bank said the outlook for foreign trade remained cautious as weaker global […]

PM ANWAR IBRAHIM, PM ALBANESE DEEPEN STRATEGIC PARTNERSHIP, FOCUS ON ENERGY SECURITY AND REGIONAL STABILITY

PUTRAJAYA, 16 APRIL -- Prime Minister Anwar Ibrahim held a bilateral meeting with Australian Prime Minister Anthony Albanese following an official welcome ceremony, as both leaders reaffirmed their commitment to strengthening Malaysia–Australia ties across key strategic sectors. The meeting, conducted in a closed-door one-on-one session, focused on advancing cooperation under the Comprehensive Strategic Partnership, which underscores shared priorities in ensuring regional prosperity, security, stability, and long-term economic growth. Both nations reiterated their commitment to open markets and rules-based trade, anchored in mutual trust and strategic alignment. During the discussions, Anwar and Albanese expressed deep concern over ongoing conflicts in West Asia and their broader implications, particularly on global energy supply chains, pricing volatility, and the flow of critical resources such as oil and natural gas. Both leaders acknowledged the importance of complementing each other’s roles in trade and economic relations, especially in the area of energy security. Malaysia and Australia, they noted, serve as key energy suppliers to one another, reinforcing the need for closer coordination. They also emphasized a shared commitment to maintaining open and rules-based energy trade, ensuring stable trade flows, enhancing transparency, and strengthening collaboration in energy security. Efforts will be intensified to build more resilient energy supply chains, support the transition toward cleaner energy, and expand the adoption of renewable energy sources. The discussions reflect a unified vision to safeguard economic stability and shared prosperity, while reinforcing the Malaysia–Australia partnership as a key pillar in navigating evolving regional and global challenges. -- Minutes MY / Igneseous Noris -- Credit: FB Anwar Ibrahim

PUTRAJAYA, 16 APRIL — Prime Minister Anwar Ibrahim held a bilateral meeting with Australian Prime Minister Anthony Albanese following an official welcome ceremony, as both leaders reaffirmed their commitment to strengthening Malaysia–Australia ties across key strategic sectors. The meeting, conducted in a closed-door one-on-one session, focused on advancing cooperation under the Comprehensive Strategic Partnership, which […]