logo
TIC Bintulu To Potentially Contribute RM12 Bln To GDP -- PM Anwar

TIC Bintulu To Potentially Contribute RM12 Bln To GDP -- PM Anwar

Barnama23-06-2025
GENERAL
KUALA LUMPUR, June 23 (Bernama) -- The Transitioning Industrial Clusters (TIC) initiative in Bintulu, Sarawak, has the potential to contribute an additional RM12 billion to the country's gross domestic product (GDP), said Prime Minister Datuk Seri Anwar Ibrahim.
He said this initiative is expected to create 19,000 new job opportunities and reduce carbon emissions by 21.35 million tonnes by 2040.
'This effort is in line with the state's aspirations towards net-zero carbon and strengthens Sarawak's position as the country's leader in the green industry,' he said in a post on X today.
Earlier today, Anwar chaired the National Digital Economy and Fourth Industrial Revolution Council (MED4IRN) Meeting No 3/2025, an important forum for assessing progress and setting a new direction for the country's digital economy.
The prime minister said that during the meeting, he was interested in the presentation regarding Sarawak's intention to develop a TIC in Bintulu.
Anwar said the government agreed to adopt TIC as a national agenda as it is a strategic move that unites companies and public institutions to drive green economic growth, open up highly skilled job opportunities and reduce carbon emissions.
Meanwhile, the meeting also discussed the implementation of GovTech Malaysia, including the MyGOV Malaysia application, which functions as the government's single digital gateway.
'Through the gateway, the rakyat can deal with various government agencies online without having to queue at the counter.
'This demonstrates the government's commitment to bring services closer to the people in a simple, efficient and transparent manner,' he said.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Ringgit slips at opening against greenback as US rate cut hopes fade
Ringgit slips at opening against greenback as US rate cut hopes fade

The Star

time24 minutes ago

  • The Star

Ringgit slips at opening against greenback as US rate cut hopes fade

KUALA LUMPUR: The ringgit opened lower against the US dollar today as the greenback strengthened on waning hopes of an interest rate cut this month by the United States. At 8 am, the ringgit dipped to 4.2480/2575 against the greenback, compared to Tuesday's close of 4.2395/2440. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the US June Consumer Price Index (CPI) report released on Tuesday suggests that the inflation rate there is climbing, dashing hopes for an interest rate cut at the upcoming US Federal Open Market Committee (FOMC) meeting at the end of July. "The US CPI came in at 2.7 per cent higher year-on-year in June from 2.4 per cent in the preceding month and similarly, the core CPI rose 2.9 per cent during June after sustaining 2.8 per cent increases for three consecutive months," he told Bernama. Mohd Afzanizam also noted that China's second quarter gross domestic product (GDP) moderated to 5.2 per cent from 5.4 per cent in the first quarter, resulting in the Chinese yuan weakening against the greenback by 0.15 per cent to 7.1825 yuan. "In light of the latest US CPI and China's GDP, the ringgit could experience some knee jerk reaction with the US dollar-ringgit pair at around RM4.24-RM4.26 today," he added. At the open, the ringgit was traded higher against a basket of major currencies. It improved against the Japanese yen to 2.8552/8618 from 2.8702/8734 yesterday, strengthened against the British pound to 5.6893/7021 from 5.7047/7107, and gained versus the euro to 4.9311/9421 from 4.9539/9591. The local note trended mixed against ASEAN currencies. The ringgit trended firmer vis-à-vis the Singapore dollar at 3.3066/3145 from 3.3095/3133, and edged up against the Thai baht to 13.0355/0783 from 13.0784/0988. But it slipped against the Indonesian rupiah to 261.1/261.8 from 260.6/261.0 and dropped against the Philippine peso at 7.49/7.51 from 7.47/7.49 from Tuesday's close. - Bernama

Rubber Products Outlook Remains Gloomy On Unfavourable Operating Environment
Rubber Products Outlook Remains Gloomy On Unfavourable Operating Environment

Barnama

time36 minutes ago

  • Barnama

Rubber Products Outlook Remains Gloomy On Unfavourable Operating Environment

BUSINESS KUALA LUMPUR, July 16 (Bernama) -- RHB Investment Bank Bhd (RHB IB) expects the rubber products sector to remain bleak due to an unfavourable operating environment driven by a longer-than-expected period of inventory consolidation. In a research note today, the bank said competition remains intense in non-United States (US) markets, largely due to the hostile pricing strategy adopted by Chinese manufacturers. 'Persistent challenges in cost pass-through, coupled with a rising operating cost environment and a weaker US dollar, are expected to weigh on glove makers' profitability moving forward. "Other downside risks include the deteriorating US-China relationship, rising glove average selling prices (ASPs), faster-than-expected capacity expansion, and lower-than-expected raw material prices,' it said. Meanwhile, the bank also anticipates that the commissioning of new plants in Indonesia and Vietnam could pose a threat to Malaysia's rubber product exports to the US by as early as November 2025. According to the Department of Statistics Malaysia, the country's glove exports recorded month-on-month declines of 22 per cent and six per cent in April and May. This suggests that customer restocking activities remain sluggish, as the industry continues to experience a longer-than-expected gestation period following the front-loading seen in the fourth quarter of 2024. The continued weakness of the US dollar against the ringgit has further eroded glove makers' profitability, with the greenback depreciating by three per cent quarter-on-quarter and 5.4 per cent year-to-date as of June. 'Therefore, we maintained our 'underweight' call on the sector,' it added.

Bitget Launchpool to List Pump.fun (PUMP) with over 123M in Token Rewards
Bitget Launchpool to List Pump.fun (PUMP) with over 123M in Token Rewards

Barnama

timean hour ago

  • Barnama

Bitget Launchpool to List Pump.fun (PUMP) with over 123M in Token Rewards

VICTORIA, Seychelles, July 16 (Bernama) -- Bitget, the leading cryptocurrency exchange, and Web3 company has announced the addition of (PUMP) to Bitget Launchpool. The exclusive Launchpool campaign will see up to 123,594,000 PUMP up for grabs. is a platform designed to allow for the quick creation and trading of memecoins on the Solana blockchain. Bitget will launch a Launchpool campaign offering 123,594,000 PUMP in total rewards. Eligible users can participate by locking either BGB during the event, which runs from 15 July 2025, 08:00 to 18 July 2025, 08:00 (UTC). Users can lock between 5 and 50,000 BGB, with maximum limits determined by their VIP tier, for a chance to earn a share of 123,594,000 PUMP.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store