
Bangladesh seeks Malaysia's backing for Asean membership during meeting with Nurul Izzah
Yunus, during the meeting, sought Malaysia's support for Bangladesh to join the Association of South-east Asian Nations (Asean).
'We want to become a part of Asean, and we will need your support,' he told Nurul Izzah, according to a Bangladesh Sangbad Sangstha report.
Bangladesh applied to become an Asean sectoral dialogue partner in 2020.
Yunus also invited Malaysian companies to invest in Bangladesh's growing economy.
'Asia is ageing rapidly, but Bangladesh has a lot of young people. Half of our population is under the age of 27. Set up your industries here and export from Bangladesh. It will help both our economies,' he said.
The interim government's chief advisor informed the PKR deputy chief about Bangladesh's political reforms following last year's uprising, which ended Sheikh Hasina's nearly 16-year rule.
Nurul Izzah spoke at Dhaka University on Sunday at a conference marking the first anniversary of the July Revolution.
She also offered her condolences during the meeting with Yunus and at the conference over the loss of lives in the recent fighter jet crash at Milestone School in Dhaka. — Bernama
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


The Star
30 minutes ago
- The Star
Youth struggle to find jobs one year post-uprising
A year after an uprising forced the Sheikh Hasina regime in Bangladesh out of power, challenges persist to address the severe lack of jobs among youth who took their grievances to the streets. The uprising, in which some 1,400 people were killed, according to the United Nations, was sparked by the issue of quota reservations in civil service recruitment tests. Since the interim government headed by Nobel laureate Muhammad Yunus took over, a broad agenda of reform has been drawn up, but experts say a lack of opportunities for the young workforce remains a problem. 'Amid jobless growth faced by the country's youth, a fair chance at civil service recruitment tests became a rallying cry,' said Tuhin Khan, a leading activist in the quota reform movement and the July uprising. 'But since then, we have not seen enough meaningful focus from the government on the economic pressures faced by ordinary people as politics took center stage,' he added. About 30% of Bangladeshi youth are neither employed nor in school or training, according to the International Labour Organization (ILO). Also, about 23% of young women are unemployed compared with 15% of young men. The protesters ranged from graduate students seeking government jobs to balloon sellers, as segments of the urban poor demanded better, more dignified lives, said Maha Mirza, a researcher who teaches economics at Jahangirnagar University. But the creation of decent jobs depends upon jump-starting investment, which may have to wait for an elected government to be sworn in, said Rashed Al Mahmood Titumir, a professor of Development Studies at Dhaka University. 'When we have a stable policy regime, there would be more investment, and that will bring in the much-needed jobs for young people, including graduates and women,' he said. — Reuters A year after an uprising forced the Sheikh Hasina regime in Bangladesh out of power, challenges persist to address the severe lack of jobs among youth who took their grievances to the streets. The uprising, in which some 1,400 people were killed, according to the United Nations, was sparked by the issue of quota reservations in civil service recruitment tests. Since the interim government headed by Nobel laureate Muhammad Yunus took over, a broad agenda of reform has been drawn up, but experts say a lack of opportunities for the young workforce remains a problem. 'Amid jobless growth faced by the country's youth, a fair chance at civil service recruitment tests became a rallying cry,' said Tuhin Khan, a leading activist in the quota reform movement and the July uprising. 'But since then, we have not seen enough meaningful focus from the government on the economic pressures faced by ordinary people as politics took center stage,' he added. About 30% of Bangladeshi youth are neither employed nor in school or training, according to the International Labour Organization (ILO). Also, about 23% of young women are unemployed compared with 15% of young men. The protesters ranged from graduate students seeking government jobs to balloon sellers, as segments of the urban poor demanded better, more dignified lives, said Maha Mirza, a researcher who teaches economics at Jahangirnagar University. But the creation of decent jobs depends upon jump-starting investment, which may have to wait for an elected government to be sworn in, said Rashed Al Mahmood Titumir, a professor of Development Studies at Dhaka University. 'When we have a stable policy regime, there would be more investment, and that will bring in the much-needed jobs for young people, including graduates and women,' he said. — Reuters


The Star
32 minutes ago
- The Star
CTOS focuses on cost cuts, Asean expansion
PETALING JAYA: Credit reporting company CTOS Digital Bhd is expected to continue optimising its cost structure while at the same time focusing on exiting less profitable businesses and expanding its Asean footprint, analysts say. The company's second quarter of financial year 2025 (2Q25) results released last Friday came in below market expectations. However, most analysts believe the worst may be over in terms of share price valuation given the decline year-to-date, the more conservative financial estimates made by the company's management following its 2Q25 results, and the ongoing growth in its Asean customer base, as well as the offering of new products. RHB Research has cut earnings assumptions for CTOS for this year to 2027 by 26.5%, 26.4% and 24%, respectively, after factoring in slower growth across all segments and margin assumptions. While maintaining a 'buy' call on the stock, the research house revised its target price to RM1.16 from RM1.49. 'Management has lowered its multi-year internal growth outlook to provide a new baseline guidance. 'While the plateauing growth trajectory may keep investors at bay, its valuation has reverted to a palatable level,' RHB Research said. Hong Leong Investment Bank (HLIB) Research said that despite 2Q25 results coming in below market expectations, the decline in share price means that the stock's risk-reward profile has become more balanced. 'Overall, we are still optimistic that Asean continues to be an under-penetrated market, and CTOS is well-positioned to capitalise on the region's compelling growth potential,' the research house said. 'Broadly, management is focused on phasing out less profitable products and optimising costs in order to restore gross profit margins back to the 70% range from the current 67%. 'Furthermore, CTOS aims to deepen its penetration into the large corporate segment, an area where it is lagging,' HLIB Research said. The research house retained a 'hold' call on the stock with the target price lowered to 89 sen from RM1.10. Maybank Investment Bank Research (Maybank IB) also revised the company's 2025 to 2027 earnings down by between 27% and 31% to reflect the weaker-than-expected margins and muted earnings visibility. The research house also downgraded the rating for CTOS to a 'hold' from a 'buy' and lowered the target price to 92 sen from RM1.30. Maybank IB said there could be a rerating potential after 2026 as cost rationalisation efforts and client wins should drive growth. It added that the search for a new chief executive officer 'is ongoing, with a candidate currently in the final stages of evaluation'. It said the company's management has guided for a 27% cut in this year's earnings. CIMB Research, which downgraded the stock to a 'hold' from a 'buy', has lowered its target price on CTOS to 90 sen from RM1.30. The research house said the valuation was also based on the company's sluggish earnings growth outlook and the structural shift in its earnings profile in view of the unfavourable sales mix weighted towards lower-margin products and a higher tax rate beyond October 2026. CTOS's pioneer tax status is set to expire in November 2026.


The Star
33 minutes ago
- The Star
AFFLUENT SEGMENT FUELS STANDARD CHARTERED'S GROWTH
KUALA LUMPUR: In an era of shifting markets and rising complexity in wealth planning, Malaysia's affluent and emerging affluent are turning to partners with global insights and wealth expertise to future-proof their financial ambitions. Standard Chartered is doubling down on its affluent business and is strengthening its wealth proposition to help clients grow and protect their wealth. For the bank's Wealth and Retail Banking (WRB) business, the focus is on growing its three main segments – affluent, emerging affluent and small and medium enterprises (SME). Doubling down on affluent According to Harmander Mahal, Standard Chartered's head of WRB for Malaysia, the bank's business is fairly robust in all three segments. 'Within WRB Malaysia, our affluent business contributes the most, making up almost 45% of our total income. This is followed by the SME and emerging affluent segments. 'We aim to continue building on our strengths in affluent as we expect our overall WRB top line to nearly double in the next five to six years. We target to have almost 60% of that income come from affluent,' he told StarBiz recently. In Malaysia, Standard Chartered categorises its affluent clients under Priority Banking. These are clients who have an Asset Under Management (AUM) of above RM350,000. 'For us, SMEs range from businesses with a turnover of a couple of million ringgit up to RM400 million, maybe even more, depending on their profile. Within this segment, we provide support with their potential growth overseas, working capital and other banking needs.' Harmander: Malaysia continues to distinguish itself as a compelling destination for business and investment, underpinned by its stable fundamentals and conducive business environment.—GLENN GUAN/The Star Within the mass retail space, the bank is focused on supporting its emerging affluent clients progress in their wealth journey, essentially forming a pipeline of future affluent clients. This client segment typically consist of young professionals. 'We offer products and solutions designed to cater to clients across segments along our client continuum, growing with clients as they grow their wealth through different life stages. 'How this could look like, is that the client could start banking with us as a young professional with a very modest income, but through our support, they are able to progress through each of their life stage, as they get married, buy a house and more,' he explained. Positioned for greater growth Having worked extensively in the bank's WRB business in all 11 Asean and South Asia (ASA) markets, Harmander believes Malaysia is well-positioned to capitalise on shifting global investment flows, supported by its robust infrastructure, strategic location, and pro-business policies that continue to attract sustained foreign direct investments. 'I think Malaysia is at a crucial point and it's going to do really well as it progresses. While short-term fluctuations are inevitable, the broader trajectory remains highly encouraging. Malaysia continues to distinguish itself as a compelling destination for business and investment, underpinned by its stable fundamentals and conducive business environment,' Harmander said. He added the government has been very agile to capitalise on the opportunities arising from the global trade tensions and measures, such as the Johor Special Economic Zone, which is making good progress. 'All the policies and measures taken are going to present a plethora of opportunities for Malaysians and investors.' According to a Knight Frank report in 2024, the population of ultra-high net worth clients in Malaysia is expected to grow by 30-35% in the next five to six years. 'As wealth creation accelerates, we believe that it needs to be well managed, and we are in a strong position to help with that. 'Our long-standing presence in Malaysia for 150 years is a testament to our enduring commitment, trusted relationships, and deep understanding of the local market,' said Harmander. He said Malaysia is a key market for the bank, therefore the investment, in terms of products and platforms, has been quite significant. 'We run some of our best platforms in Malaysia,' Harmander told StarBiz. A leading international wealth manager Standard Chartered's advantage lies in both the trust that is built with clients across their wealth journey and its expertise in wealth solutions. This combination enables the bank to curate and offer innovative product propositions tailored to clients' unique needs. 'The advice provided by our advisory team has a high degree of governance and an international flavour to it. 'We don't take those things lightly. The other advantage we have, which is quite significant and unique vis-a-vis other banks, is that we have a distinctive international network. Our wealth operations and expertise extend across 25 markets with four wealth hubs in Singapore, Hong Kong, Dubai and Jersey.' The four key wealth hubs are strategically located to capitalise on cross-border wealth flows and offer international wealth management solutions for affluent clients. 'This presence in the multiple markets gives us a great advantage as we see Malaysia becoming an attractive business and investment destination for expats,' said Harmander. Against the backdrop of international diaspora, coupled with Malaysia's investment story and its Malaysia My Second Home programme, he noted that Standard Chartered remains attuned to the diverse needs of global entrepreneurs, professionals and their families as they expand into Malaysia. 'As these clients grow their wealth across borders, our affluent continuum and vast international network work in tandem to guide them in navigating the path forward in an ever-changing world,' he said.