Tag: economy

Targeted Subsidies Shield The Public From Global Energy Crisis Impact – Amir Hamzah

KUALA LUMPUR, April 10 -- The government has created a buffer by maintaining targeted subsidies for RON95 and diesel at fixed prices, while aligning the prices of non-subsidised fuel with market rates to shield the public from the direct impact of the global energy crisis. Finance Minister II Amir Hamzah Azizan said the measure is crucial to protect critical sectors, including fishermen, public transport and eligible logistics vehicles, which continue to enjoy diesel at controlled rates. “Critical sectors that still benefit from subsidised diesel, such as fishermen, continue to receive diesel at RM1.65. “For land public transport vehicles, including school and express buses, ambulances and fire engines, the price is RM1.88 per litre, while eligible logistics vehicles and users in Sabah and Sarawak pay RM2.15 per litre,” he said at a global energy crisis briefing today. He said current global price pressures stem from low supply relative to high demand, security threats, as well as rising shipping and insurance costs. Amir Hamzah said Malaysia’s fuel supply is more robust compared with other countries, with Petroliam Nasional Bhd (Petronas) and several other oil companies managing the nation’s resources responsibly. “We can see this through petrol stations that continue to operate. Malaysians can still purchase fuel. Some countries have already imposed rationing, and hundreds of petrol stations elsewhere have been closed due to supply shortages,” he said. He said the crisis should be viewed as an opportunity for Malaysia to continue strengthening its economic resilience and to seize the chance to become a more dynamic and progressive society. “The people play an important role. This is the time for us to set aside our differences and choose unity in facing the crisis, including practising moderation in our daily lives. “The government’s priority at this time is to ensure sufficient supply of fuel, energy, essential goods and medicines for the rakyat. At the same time, the government is striving to safeguard the national economy and protect the people,” he said.

KUALA LUMPUR, April 10 — The government has created a buffer by maintaining targeted subsidies for RON95 and diesel at fixed prices, while aligning the prices of non-subsidised fuel with market rates to shield the public from the direct impact of the global energy crisis. Finance Minister II Amir Hamzah Azizan said the measure is […]

Boost Bank Drives Fintech Growth as Malaysia Accelerates Digital Economy Agenda

KUALA LUMPUR, April 1 — Malaysia’s fintech sector continues to gain momentum as a key driver of the nation’s digital economy, with industry leaders highlighting ongoing efforts to accelerate innovation and financial inclusion. During a recent engagement, Sheyantha Abeykoon, Group Chief Executive Officer of Boost Holdings, and Ungku Liza, Deputy CEO of Boost Bank, presented the latest developments and strategic initiatives undertaken by the digital bank in advancing the fintech landscape. The session underscored the growing importance of fintech in propelling Malaysia’s digital economy to greater heights, particularly in enhancing accessibility, efficiency, and innovation within the financial ecosystem. Efforts by Boost Bank were positively received, with recognition given to its role in delivering tangible impact across the sector. Its initiatives are seen as contributing significantly to expanding digital financial services and supporting broader economic growth. The engagement reflects continued collaboration between stakeholders to ensure Malaysia remains competitive in the rapidly evolving global fintech space, while fostering a more inclusive and resilient digital economy.

KUALA LUMPUR, April 1 — Malaysia’s fintech sector continues to gain momentum as a key driver of the nation’s digital economy, with industry leaders highlighting ongoing efforts to accelerate innovation and financial inclusion. During a recent engagement, Sheyantha Abeykoon, Group Chief Executive Officer of Boost Holdings, and Ungku Liza, Deputy CEO of Boost Bank, presented […]