Anwar satisfied with LCS construction progress
He said the progress demonstrated the government's strong commitment to prioritising national security assets and reflected the MADANI government's emphasis on good governance.
'We regard the RMN as a key line of defence, as our waters are not immune to threats such as terrorism, potential foreign incursions and smuggling. That is why I agreed for the LCS project to continue under the Finance Ministry.
'Previous delays stemmed from weak management, governance issues and corruption. If the management is poor, how can we ensure maritime security? That's why good governance is essential,' he said in his speech at the Kenduri Rakyat programme held in conjunction with the Perak MADANI Rakyat Programme 2025 at Shariff Hall, RMN Lumut here today.
Also present was Communications Minister Datuk Fahmi Fadzil.
Earlier, the prime minister visited the Lunas facility at the RMN base to inspect the ongoing LCS construction works.
-- MORE
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
41 minutes ago
- Barnama
SST And New Electricity Tariffs: Relief Measures To Ease Transition
Despite early concerns over rising living costs, the rollout includes various measures designed to cushion the impact, especially for households and small businesses. PUTRAJAYA, July 6 (Bernama) -- As Malaysia enters the second half of 2025, the government's fiscal recalibration through an expanded Sales and Service Tax (SST) and revised electricity tariffs mark a strategic move to strengthen national finances while prioritising the welfare of the rakyat. For the average Malaysian, the mood is gradually shifting from anxiety to cautious optimism, as support mechanisms are in place to help those most in need. From tax exemptions on personal care services such as haircuts, facials and manicures, to anticipated cash assistance and a more progressive electricity tariff system where higher usage brackets are charged more, the government appears to be listening and responding to public sentiment. He also raised the SST registration threshold for leasing and financial services from RM500,000 to RM1 million, offering relief to smaller businesses. Meanwhile, services such as haircuts, facials and manicures have been excluded from the expanded SST, a modest but welcome move that helps maintain the affordability of everyday self-care. The government has expanded the SST to cover more services and selected imported goods as part of efforts to boost revenue. However, following engagement sessions and public feedback, Prime Minister and Finance Minister Datuk Seri Anwar Ibrahim recently announced tax exemptions for four imported fruits commonly found on Malaysian dining tables - apples, oranges, mandarin oranges and dates. 'This move helps maintain the affordability of key food items and supports household purchasing power,' said Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid. Another key policy change taking effect this month is the revised electricity tariff, which affects more than 23.6 million domestic users in Peninsular Malaysia. The new rates, effective from July 1, 2025 until Dec 31, 2027, fall under the Incentive-Based Regulation (IBR) framework under Section 26 of the Electricity Supply Act 1990. The Energy Commission has set the average base tariff rate at 45.40 sen per kilowatt-hour, slightly lower than the 45.62 sen approved in December 2024. This adjustment is expected to reduce overall electricity costs while promoting energy-saving habits, particularly during off-peak hours. External challenges remain Despite domestic reforms, global uncertainties continue to weigh on Malaysia's economic outlook. Mohd Afzanizam warned that the upcoming expiry of the United States' temporary suspension of reciprocal tariffs on July 9 could increase pressure on Malaysian exports if Washington reimposes steep duties. However, the administration of US President Donald Trump has signalled the possibility of extending the suspension, a move that could offer short-term relief to Malaysian exporters, particularly in the electrical and electronics, palm oil, rubber and machinery sectors. Economists say such an extension would reflect a more measured US trade stance and could help stabilise global market sentiment, which is a much-needed breather for emerging economies navigating inflation, currency volatility and geopolitical risks. At the same time, ongoing tensions in the Middle East continue to fuel oil price fluctuations, adding pressure to Malaysia's fuel subsidy rationalisation efforts. Global price volatility could increase consumer costs and complicate the implementation of subsidy reforms. Relief measures and stronger fiscal footing While the government's fiscal reforms are geared toward long-term stability, public sentiment remains sensitive to immediate cost-of-living issues. Uncertainty still lingers over the implementation of RON95 fuel subsidy rationalisation and the full impact of SST and electricity adjustments on consumer behaviour. Nevertheless, there are signs of relief on the horizon. Mohd Afzanizam noted that there may be room for monetary easing, including a potential 25 basis points cut in the overnight policy rate (OPR) as early as this month (July 9). In a separate move, Bank Negara Malaysia's decision in May to reduce the statutory reserve requirement by 100 basis points had already injected about RM19 billion into the banking system, providing liquidity to support economic activity. 'On the fiscal front, the government's disciplined approach appears to be yielding results. The fiscal deficit narrowed to RM22 billion or 4.5 per cent of gross domestic product in the first quarter of 2025, down from RM26 billion or 5.7 per cent in the same period last year. 'Savings from the diesel subsidy rationalisation and SST reforms introduced in 2024 have opened up fiscal space, enabling the government to increase targeted assistance. The combined allocation for Sumbangan Tunai Rahmah and Sumbangan Asas Rahmah has been raised to RM13 billion this year from RM10 billion in 2024. 'This careful balancing act is supporting investor confidence and helping to preserve Malaysia's sovereign credit ratings,' he said. International rating agencies like Moody's, S&P, and Fitch are expected to maintain Malaysia's current sovereign ratings, a crucial factor in attracting long-term foreign investment. As Malaysians adjust to this new fiscal environment, the coming months will test not only household resilience but also the government's ability to sustain reforms while protecting the wellbeing of the rakyat. -- BERNAMA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio Twitter : @ @BernamaTV, @bernamaradio Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial TikTok : @bernamaofficial
Malay Mail
an hour ago
- Malay Mail
Citing Petronas and Yinson success in Brazil, Anwar urges Malaysian firms to go beyond China, US
RIO DE JANEIRO, July 6 — Malaysian companies must be willing to explore new markets and trading opportunities overseas. In making the call, Prime Minister Datuk Seri Anwar Ibrahim said they must not solely rely on traditional markets, but instead venture into new ones. Anwar said platforms like the BRICS offer enormous opportunities, and praised Malaysian companies Petronas and Yinson Production for their successful ventures in Brazil. Anwar, who is here at the invitation of President Luiz Inácio Lula da Silva to attend the 17th BRICS Leaders' Summit, said Lula was surprised to see Malaysian companies doing business in the country. 'I mentioned Yinson and Petronas to him, and their role in Brazil. He was surprised and asked for more details,' he said at a dinner hosted by Yinson Production here. Also present were Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz and Yinson Holdings Bhd executive chairman Lim Han Weng. Yinson, an independent owner and operator of floating, production, storage and offloading (FPSO) vessels, has three projects in Brazil since 2023, namely FPSO Anna Nery, FPSO Maria Quiteria and FPSO Atlanta. Petronas has ventured into oil production in Brazil and last year opened its petrol station as well. Anwar, who is also the Finance Minister, said that although Malaysia's biggest market and source of investment is the United States and China, there are opportunities beyond them. Anwar said he has asked Zafrul to facilitate and offer assistance to Malaysian companies doing business in Brazil. Brazil has not only shown its strength as a voice of the third world, but has also become an important economic power, he said. In his meeting with Lula da Silva this morning, Anwar said they discussed various issues of importance between the two countries. Anwar said Lula has accepted his invitation to visit Malaysia during the ASEAN Summit in October. 'He wants to bring key ministers and business groups to Malaysia. There will be a special conference with both of us jointly addressing the event,' he said. Malaysia participated in the BRICS Leaders' Summit as a partner country and as ASEAN chair 2025. It officially became a BRICS partner country on Jan 1, 2025. Bilateral trade between Malaysia and Brazil increased by 14.6 per cent to RM20.35 billion (US$4.38 billion) in 2024, rising from RM17.43 billion recorded in 2023. Brazil is one of Malaysia's main trading partners in Latin America. — Bernama
Malay Mail
an hour ago
- Malay Mail
PM Anwar calls on Brics to boost intra-trade, champion fair and just global order
KUALA LUMPUR, July 6 — Prime Minister Datuk Seri Anwar Ibrahim has called for an increase in intra-Brics trade and for the grouping to emerge as a strong and principled force, grounded in equity, mutual respect, and a shared commitment to shaping a more balanced and just international order. Lamenting unilateral tariff measures and protectionist policies, Anwar expressed confidence that Brics, which today accounts for nearly 40 per cent of the global economy, holds vast potential to boost trade within the informal grouping. 'With that collective strength, we can engage the world safely, fairly, and justly, negotiating on equal terms with all partners in the multilateral system,' he said. He further emphasised the need for reform of key international institutions. 'We must demand the transformation of global governance structures, from the United Nations to the World Trade Organisation, the International Monetary Fund (IMF) and the World Bank towards a more democratic and just multilateral order,' he said at the Brics Business Forum entitled: 'Bridging Continents, Building Future: A Shared Agenda for Sustainable Progress' in Rio De Janeiro, Brazil today. Also present were President of Brazil Luiz Inácio Lula da Silva, Vice President of Brazil Geraldo Alckmin and President of the Brazilian Confederation of National Industry (CNI) Ricardo Alban. Anwar firmly asserted that developing countries should no longer be regarded as peripheral players in the global system. 'We are not merely heirs of post-colonial history. We have now risen as a dignified force with our strengths in technology, trade, leadership, and the moral voice of the world,' he said. 'Brics today goes beyond political rhetoric. It is a coalition of political, economic, and civil society forces moving in tandem to demand a more just and equitable global system.' The uniqueness of Brics is highlighted by the active participation of the private sector, women, youth, and civil society, making this struggle not merely an elite discourse but an inclusive and resilient collective movement, said Anwar, who is also the finance minister. As the Chair of Asean, Malaysia shares this aspiration, he added. The Malaysian prime minister said Brics and Asean members must continue to strengthen strategic cooperation, including enhancing cross-regional trade and investment for the shared benefit of developing countries. Brics 2025 is not merely a continuation of past efforts but a moment of renewed awakening. With visionary political leadership, a progressive private sector, and a strengthening Global South solidarity, 'we have a real opportunity to reshape the global landscape,' he added. Anwar also voiced his support for Lula, commending him as one of the few courageous global leaders today to speak on behalf of those who have been left unheard. The Brics group - which serves as a political and diplomatic coordination forum for countries of the Global South with collaboration across diverse sectors - was initially established by Brazil, Russia, India and China. It later expanded with the inclusion of South Africa in 2011, followed by Egypt, Ethiopia, Iran, Saudi Arabia and the United Arab Emirates (UAE) in 2023, and Indonesia in 2024. Malaysia, as well as Belarus, Bolivia, Kazakhstan, Cuba, Nigeria, Thailand, Vietnam, Uganda, and Uzbekistan, were accepted as Brics partner countries. Anwar arrived earlier today to attend the 17th Brics Leaders' Summit hosted by Brazil at the invitation of Lula. He is being accompanied by Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz; Minister of Transport Anthony Loke; Miri member of parliament Chiew Choon Man; and Paya Besar member of parliament Datuk Mohd Shahar Abdullah. — Bernama
