Tag: financial

Global Supply Crisis: Selangor’s Financial Position Still Healthy — Amirudin

SHAH ALAM, June 15 -- Selangor's financial position is still at a healthy level despite the global economic uncertainties following the supply crisis and fluctuations in world markets. Selangor Menteri Besar Datuk Seri Amirudin Shari said the state government did not see the need to take emergency measures because revenue collection remains on a positive track. State revenue collection reached RM1.6 billion as of May against this year’s RM2.8 billion target, with the current collection trend showing positive development. "We have not yet pressed the 'panic button', but are monitoring weekly and monthly developments," he said at a press conference after launching the Selangor Resilience Strengthening Package Phase 1 at the Selangor State Secretary's Office (SUK) Building here today.   Amirudin added that Selangor also recorded a RM300 million surplus against total expenditure due to the state government's savings. Although this year's financial position is not as strong as last year's, the state government is confident of achieving the set revenue target, and it still has good reserve collection, he said. "At the same time, various efforts are being made, including through the land disposal process, changes to the actual conditions of land for industrial purposes and the influx of new investments into Selangor," he said. Amirudin said the real impact of global economic uncertainty is expected to be seen in the next few months, and the state government is taking a proactive approach to reduce its impact on the people and the economic sector.   -- BERNAMA

SHAH ALAM, June 15 — Selangor’s financial position is still at a healthy level despite the global economic uncertainties following the supply crisis and fluctuations in world markets. Selangor Menteri Besar Datuk Seri Amirudin Shari said the state government did not see the need to take emergency measures because revenue collection remains on a positive track. […]

KUSKOP, CGC Strengthen MSME Access To Financing – Steven Sim

KUALA LUMPUR, May 27 -- The Ministry of Entrepreneur and Cooperatives Development (KUSKOP) has welcomed the role of Credit Guarantee Corporation Malaysia Bhd (CGC) in helping micro, small and medium enterprises (MSMEs) gain access to financing through guarantee schemes, financial advisory services and financing facilitation initiatives. Its Minister Steven Sim said the efforts were crucial in helping underserved MSMEs obtain financing and working capital amid rising operating costs and geopolitical uncertainties linked to conflicts in West Asia. “Many MSMEs, particularly micro and small enterprises, still face difficulties obtaining financing due to limited credit history and high borrowing costs,” he said in a statement today after chairing a meeting with CGC on efforts to strengthen financing and capital access for MSMEs in Malaysia. During the meeting, CGC briefed KUSKOP on ongoing initiatives, including credit guarantee schemes, financing facilities, digital marketing training, youth entrepreneur development programmes and MSME networking sessions nationwide. Sim also called on agencies under KUSKOP, particularly SME Corp Malaysia, to strengthen cooperation with CGC and enhance outreach on financing assistance through platforms such as the MyKNP financing advisory service and the imSME online financing referral platform, supported by CGC and Bank Negara Malaysia. He said KUSKOP remained committed to working closely with financial institutions, development financial institutions and ecosystem partners to improve financing access, strengthen MSME resilience and advance the ‘Empowering Malaysian Businesses’ agenda. -- BERNAMA

KUALA LUMPUR, May 27 — The Ministry of Entrepreneur and Cooperatives Development (KUSKOP) has welcomed the role of Credit Guarantee Corporation Malaysia Bhd (CGC) in helping micro, small and medium enterprises (MSMEs) gain access to financing through guarantee schemes, financial advisory services and financing facilitation initiatives. Its Minister Steven Sim said the efforts were crucial […]

South Korea To Supply 90,000 Rental Homes In Greater Seoul Area For Youths By 2027

SEOUL, May 22 -- South Korea is planning to supply some 90,000 rental housing units for young people in the greater Seoul area by 2027, as part of broader efforts to stabilise the housing market and improve living conditions for youths, Yonhap News Agency reported. According to its Finance Minister Koo Yun Cheol, the government is seeking various ways to expand non-apartment housing, which is one of the key pillars of the public housing supply programme. “We plan to supply 90,000 rental units in Seoul and surrounding areas for the next two years, and 66,000 of them will be located in regulated zones,” Koo said during a meeting of ministers related to real estate policy. Koo said non-apartment housing, such as multifamily homes and compact studio units, can be supplied relatively quickly, helping ease housing difficulties faced by young people at a faster pace. The government will also adopt modular housing and other construction methods to shorten construction periods and reduce financial burdens on developers, encouraging earlier project launches, he added. During the meeting, officials also reviewed housing market trends and response measures and discussed plans to crack down on illegal real estate activities. --BERNAMA

SEOUL, May 22 — South Korea is planning to supply some 90,000 rental housing units for young people in the greater Seoul area by 2027, as part of broader efforts to stabilise the housing market and improve living conditions for youths, Yonhap News Agency reported. According to its Finance Minister Koo Yun Cheol, the government […]

Home Ministry To Seek RM4.3 Million To Upgrade GOF 3rd Battalion Camp In Bidor

TAPAH, May 18– The Home Ministry will submit an application for a financial allocation of about RM4.3 million to upgrade facilities at the General Operations Force (GOF) 3rd Battalion Camp in Bidor to Prime Minister Datuk Seri Anwar Ibrahim. Home Minister Datuk Seri Saifuddin Nasution Ismail said the allocation is crucial to enhance the welfare […]

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 […]

PhotonPay Completes its First Live Agentic Payment Together with Mastercard

HONG KONG, May 14, 2026 /PRNewswire/ — PhotonPay, a next-generation financial operating system, today announced a milestone in agentic transaction together with Mastercard, marking a significant step in the exploration of AI-driven financial infrastructure in Hong Kong. In a live operational demonstration, a PhotonPay tokenized card was securely provisioned for use by an AI agent, […]

Agrobank Expects 700,000 Registered Hawkers To Benefit From Agro Penjaja-i

PUTRAJAYA, May 13 — About 700,000 hawkers registered under hawker associations are expected to benefit from the Agro Penjaja-i initiative launched today, said Agrobank president and chief executive officer Datuk Tengku Ahmad Badli Shah Raja Hussin. Speaking at a press conference after the Agro Penjaja-i launch here today, Tengku Ahmad Badli Shah said the initiative […]

US Treasury Puts Financial Institutions On Notice As Iran Oil Waiver Set To Expire

WASHINGTON, April 15 -- The US Treasury Department issued a sweeping warning to all financial institutions on Tuesday, saying it is ready to apply secondary sanctions on any entity it determines to be working in support of Iranian activities, Anadolu Ajansi reported. The Treasury said it is "moving aggressively with economic fury" to maintain what it called "maximum pressure on Iran" amid a deadlock in direct negotiations. "Financial institutions should be on notice that the department is leveraging the full range of available tools and authorities and is prepared to deploy secondary sanctions against foreign financial institutions that continue to support Iran’s activities," it said on X. "The short-term authorisation permitting the sale of Iranian oil already stranded at sea is set to expire in a few days and will not be renewed," it added. The department was referring to a short-term 30-day waiver it issued on March 20 to allow for the sale of Iranian oil that was already at sea, estimated to have been roughly 140 million barrels. The action was taken to mitigate the spike in global energy prices caused by the US and Israeli decision to go to war with Iran. The war, and Iran's retaliatory decisions to close the Strait of Hormuz and target energy infrastructure on the territories of the US' Gulf Arab allies, sent energy prices skyrocketing, particularly oil. The waiver is set to expire on April 19. Marathon direct talks between the US and Iran concluded Saturday, without the two sides agreeing on terms to permanently end the war. US President Donald Trump said earlier Tuesday that he expects the talks to resume in Pakistan within the next two days, though no formal announcement has been made. -- BERNAMA-ANADOLU

WASHINGTON, April 15 — The US Treasury Department issued a sweeping warning to all financial institutions on Tuesday, saying it is ready to apply secondary sanctions on any entity it determines to be working in support of Iranian activities, Anadolu Ajansi reported. The Treasury said it is “moving aggressively with economic fury” to maintain what […]