KUALA LUMPUR (Oct 7): The Dewan Rakyat passed the 12th Malaysia Plan 2021-2025 without amendment on Thursday, after four days of debate and a winding-up session that spanned three days by the ministries.

Dewan Rakyat passes 12th Malaysia Plan by voice vote

The Institute for Democracy and Economic Affairs (IDEAS) has lauded the many aspects of the 12th Malaysia Plan (12MP) tabled by Prime Minister Datuk Seri Ismail Sabri Yaakob earlier on Monday, which include an expansionary fiscal approach, its focus on the people’s well being and unity, as well as on advancing sustainability.

IDEAS: Private-led growth should also be promoted under 12MP

KUALA LUMPUR (Sept 28): Minister at the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed has disputed claims by opposition leader Datuk Seri Anwar Ibrahim that the Economic Planning Unit (EPU) had paid over RM2 billion to consultants to complete the 12th Malaysia Plan (12MP) report.

Govt paid 'very small sum', not RM2b, to complete 12MP report, says Mustapa

KUALA LUMPUR (Sept 28): Opposition lawmaker Tony Pua has questioned if the 12th Malaysia Plan (12MP) will be implemented successfully this time, saying that it resembled the previous five-year national roadmaps.

Calling 12MP similar to previous plans, Tony Pua asks if latest five-year roadmap will be a success this time

The 12th Malaysia Plan's (12MP) target of raising Malaysia’s average monthly household income to RM10,065 by 2025 will depend on the execution of those plans, according to the World Bank.

Execution is key to achieving 12MP goal of RM10,065 per household, says World Bank

Mah Sing Group Bhd lauded the 12th Malaysia Plan (12MP) tabled on Monday, which outlines a five-year development road map to revitalise the economy post Covid-19 pandemic.

Mah Sing founder and group managing director Tan Sri Leong Hoy Kum in a statement said: “We view the 12th Malaysia Plan positively as it emphasises social welfare and protection of Malaysians as well as strengthens economic growth. This creates a conducive environment for the rakyat and local businesses to build a strong foundation for the next five years as the nation works towards ensuring sustainable and inclusive economic development for all Malaysians.

Mah Sing welcomes 12th Malaysia Plan, hopes for additional catalysts in Budget 2022

Customary brick-and-mortar beneficiaries such as the construction and infrastructure sectors are noticeably lacking this time round in the 12th Malaysia Plan (12MP), a five-year plan covering the period from 2021 to 2025, PublicInvest Research said.

It noted that this is evident from the country’s shift towards digital-based infrastructure as drivers of future growth.

Little excitement for construction sector from 12MP

Hong Leong Investment Bank Research (HLIB Research) said the targets and measures of the 12th Malaysia Plan (12MP) are broadly positive in the longer term, but are unlikely to cause much immediate market excitement as this still hinges on near-term economic reopening momentum.

12MP is long-term positive but lacks near-term market excitement — HLIB Research

KUALA LUMPUR (Sept 28): Technology players, currently enjoying an e-commerce boom fuelled by the Covid-19 pandemic, are seen as beneficiaries of the 12th Malaysia Plan (12MP), analysts said, given the government's commitment to drive digitalisation and accelerate technology adoption to grow the economy.

Tech, utility players seen as beneficiaries of 12MP — analysts

An economist said the 4.5% to 5.5% annual economic growth target set out under the 12th Malaysia Plan (12MP) is realistic as the pandemic-hit economy is expected to recover from next year.

12MP target to raise household income to RM10,000 is ambitious, says economist

The government is "on the right track" to improve Malaysia's rail and road network infrastructure across ports and industrial areas in urban and rural areas under the 12th Malaysia Plan, said MyHSR Corp Sdn Bhd.

Govt on right track to improve land transport infrastructure, says MyHSR Corp

The 12th Malaysia Plan (12MP) is a fine balance between finding new ways to spur economic growth while at the same time keeping government finances in check after battling one of the country’s biggest economic shock, said RHB Research.

12MP seeks to balance growth needs with fiscal constraint — RHB Research

KUALA LUMPUR (Sept 27): The sale of Bumiputera shares or companies will only be offered and sold to fellow Bumiputera consortiums, firms and individuals under a soon to be introduced government measure.

12MP: Bumi shares and firms will only be allowed to be sold to fellow Bumiputeras

The government should consider reviewing the strategies outlined under Priority Area B (Enhancing Healthcare Service Delivery) of the 12th Malaysia Plan (12MP) tabled in Parliament on Monday by Prime Minister Datuk Seri Ismail Sabri Yaakob, said a public policy research and advocacy organisation.

12MP: Govt needs to review its strategies on health, says Galen Centre

French Prime Minister Francois Bayrou on Tuesday opened the door to renegotiating a disputed pension reform in a bid to win over left-wing lawmakers he needs to pass the 2025 budget.

Bayrou's concession underlined the scale of France's political turmoil as he prepared to spend his first weeks in office reworking the hard-won 2023 pension reform under pressure from the left, which threatens to topple his government otherwise.

French PM opens door to renegotiating Macron's pension reform

Meta Platforms Inc is cutting roughly 5% of its staff through performance-based eliminations and plans to hire new people to fill their roles this year, according to an internal memo sent to all employees.

Meta to slash roughly 5% of staff, targetting lowest performers

Nato countries will deploy frigates, patrol aircraft and naval drones in the Baltic Sea to help protect critical infrastructure and reserve the right to take action against ships suspected of posing a security threat, alliance members said on Tuesday.

Nato to deploy ships, aircraft in Baltic Sea after cable breaches

Malaysia welcomes companies from the United Arab Emirates (UAE) to invest in Malaysia involving renewable energy (RE) projects, including data centres, said Prime Minister Datuk Seri Anwar Ibrahim.

Malaysia welcomes UAE companies to invest in renewable energy, data centre projects — PM 

Malaysia’s unique position has helped the country to chart economic policies which are comprehensive and sustainable, said Prime Minister Datuk Seri Anwar Ibrahim.

He said Malaysia is fortunate as it is politically stable despite being multi-cultural, multi religious, multi-racial, and it is probably among the most peaceful country in the region and is also among the fastest growing economies in the world.

Malaysia’s unique position helps to chart economic policies which are comprehensive, sustainable

Malaysia must embark on a digital transformation within its economic and financial sectors, prioritising areas such as blockchain and cryptocurrency to remain at the forefront of the digital age, said Prime Minister Datuk Seri Anwar Ibrahim.

Malaysia must embrace digital transformation to stay ahead, says Anwar

Prime Minister Datuk Seri Anwar Ibrahim said he believed issues related to Petroliam Nasional Bhd (Petronas) and Petroleum Sarawak Bhd (Petros) regarding gas distribution rights in Sarawak had been resolved through a series of negotiations, including his meeting with Sarawak Premier Tan Sri Abang Johari Tun Openg.

Anwar confident Petronas-Petros gas issue resolved

The cost of road repairs due to floods following the Northeast Monsoon (MTL) has reached RM101.57 million, said Works Minister Datuk Seri Alexander Nanta Linggi.

He said it involved road repair costs in the states of Peninsular Malaysia totalling RM45.37 million covering periodic repairs of pavement, periodic non-pavement, bridges and traffic lights as well as street lights.

Cost of road repairs due to floods exceeded RM100 mil — Nanta

The Malaysian Anti-Corruption Commission (MACC) and the Federal Bureau of Investigation (FBI) will increase cooperation to address the challenges in combatting corruption crimes at regional and international levels.

MACC, FBI enhance cooperation to combat corruption

Russia’s seaborne crude exports were stable ahead of the toughest sanctions yet imposed on its oil sector in response to Moscow’s 2022 invasion of Ukraine.

But flows could be hit in the coming weeks after the US took measures on Friday against two of the country’s top exporters and about 160 oil tankers, as well as key traders, insurers and a Chinese company that facilitated the unloading of a cargo from a previously sanctioned ship.

Russian crude shipments hold steady before sanctions hit

When shown US Department of Justice (DOJ) action documents for 2017 and 2021, former 1Malaysia Development Bhd (1MDB) president Arul Kanda Kandasamy agreed that 1MDB funds following two bond energy deals in 2012, and two Deutsche Bank loans in 2014, had made their way to “MO1”, his wife Datin Seri Rosmah Mansor, fugitive businessman Low Taek Jho (Jho Low), Jho Low’s associate Eric Tan Kim Loong, film producer Riza Aziz, rapper Kasseem Dean, and then-managing director of International Petroleum Investment Company (IPIC) Khadem al-Qubaisi.

Arul Kanda agrees funds from two bond deals went to 'MO1', Rosmah, Jho Low, Riza, and Khadem al-Qubaisi, as claimed by DOJ, but denies knowledge of it

The digital bank jointly owned by YTL Power International Bhd (KL:YTLPOWR) and Singapore-based Sea Ltd has received approval from the Ministry of Finance (MOF) to commence operations, effective Dec 20, 2024.

YTL Power-Sea digital bank secures regulatory nod for operations

The initial public offering of cafe chain operator Oriental Kopi Holdings Bhd, set to be listed on Jan 23 on the ACE Market of Bursa Malaysia, has attracted RM1.61 billion worth of retail interest — nearly nine times the RM183.96 million it was looking to raise from the IPO.

ACE Market-bound Oriental Kopi's IPO draws over RM1.6 bil retail interest

Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.

Yinson, Mah Sing, YTL Power, Atlan, Sunway, Kawan Food, Theta Edge, South Malaysia Industries

Risks to Malaysia’s economic growth outlook are skewed to the downside, driven by concerns over potential challenges arising from uncertainties surrounding the incoming Donald Trump administration’s policies and the direction of the US Federal Reserve's monetary policy.

Risks to economic growth tilt more to downside as Trump 2.0 uncertainties loom, says Maybank IB

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

The Ministry of Plantation and Commodities has indicated that it may consider reapplying for another special foreign worker quota for the plantation industry in 2025 to help planters address the labour shortage.

This, however, will be guided by the urgency of industry needs and feedback from industry stakeholders, its deputy minister Datuk Chan Foong Hin told reporters at the Palm Oil Economic Review &amp; Outlook Seminar (R&amp;O) 2025 on Tuesday. &nbsp;

Ministry may consider seeking another special foreign worker quota for plantation sector

Theta Edge Bhd (KL:THETA) said its subsidiary’s joint venture (JV) deal with a data-science company to develop artificial intelligence (AI) and blockchain solutions has been terminated.

Theta Edge calls off JV agreement to develop AI, blockchain solutions

Kawan Food Bhd’s (KL:KAWAN) plan to set up an information technology equipment joint venture (JV) with several individuals, including its founder cum major shareholder, and current chairman, has fallen through.

Kawan Food bins IT equipment JV after failed talks

Loft Orbital raised US$170 million (RM765.89 million) in a funding round that will help the space infrastructure startup increase launch frequency and compete for contracts against aerospace juggernauts like Northrop Grumman and Lockheed Martin Corp.

Space firm Loft Orbital raises US$170 mil to scale up launches

AYS Ventures Bhd (KL:AYS) said Chiew Ho (L) Foundation has become the steel product manufacturer's largest shareholder after acquiring the entire equity interest in Chiew Ho Holding Sdn Bhd (CHH).

Oh family transfers AYS Ventures stake to new vehicle

Prime Minister Datuk Seri Anwar Ibrahim said he believed issues related to Petroliam Nasional Bhd (Petronas) and Petroleum Sarawak Bhd (Petros) regarding gas distribution rights in Sarawak had been resolved through a series of negotiations, including his meeting with Sarawak Premier Tan Sri Abang Johari Tun Openg.

The Ministry of Health (MOH) has stressed that it does not intend to withdraw the smoking ban in offices, which has been in effect since Jan 1, 2025.

Health Minister Datuk Seri Dr Dzulkefly Ahmad said all relevant acts and regulations, including Act 852, will continue to be enforced as stipulated.

MOH has no plans to rescind ban on smoking in workplaces, says Dzulkefly

The Malaysian Anti-Corruption Commission (MACC) has thwarted a syndicate involved in corruption and money laundering activities, allowing public servants with bad debts to secure personal loans from local banking institutions.

Chief Commissioner Tan Sri Azam Baki said the MACC Anti-Money Laundering Division carried out the concerted effort with Bank Negara Malaysia and local financial institutions under "Ops Sky", which led to the arrest of 12 individuals on Monday.

MACC busts syndicate giving loan approval for public servants with bad debts

Powertechnic Group Bhd, which provides lifting systems as well as maintenance and repair services, on Tuesday (Jan 14) filed for an initial public offering (IPO) on the ACE Market of Bursa Malaysia to raise funds for marketing expenses and capital expenditure for automated machines.

Overhead crane firm Powertechnic files draft prospectus for ACE Market IPO

Target 1 Sdn Bhd announced that the Securities Commission Malaysia (SC) has given another seven days' extension for the company to deliver the mandatory takeover offer documentation to South Malaysia Industries Bhd’s (KL:SMI) shareholders.

South Malaysia Industries bidder granted more time for takeover documentation 

Bank Islam Malaysia Bhd has signed a financing agreement worth RM105.2 million with Solar Voltech Sdn Bhd, a subsidiary of PDC Premier Holdings Sdn Bhd, for a solar generation project.

Bank Islam, Solar Voltech ink RM105.2 mil solar financing agreement

The Malaysia-United Arab Emirates (UAE) Comprehensive Economic Partnership Agreement (CEPA) signed on Tuesday set a new record for Malaysia as the fastest free trade agreement (FTA) to be concluded in just 11 months, said&nbsp;Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.&nbsp;

Comprehensive Economic Partnership Agreement with UAE the fastest FTA concluded in new record for M'sia, says Zafrul

Certain existing laws, such as&nbsp;the Communications and Multimedia Act 1998, may need to be reviewed&nbsp;to provide clear and specific guidelines for police access to private mobile phone data.&nbsp;

Lee Lam Thye calls for review of existing laws to define police access to mobile data

Capital One Financial Corp misled customers when it rolled out a new savings account with a higher interest rate it didn’t also give to existing savings accounts, the Consumer Financial Protection Bureau said Tuesday in a lawsuit against the bank.

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