Inaugural Energy Asia Awards Honour Changemakers Driving The Region's Energy Transition
Held in conjunction with Energy Asia by PETRONAS, the awards recognise individuals and organisations creating innovative solutions that address Asia's rising energy demand, tackle emissions challenges, and drive urgent systemic change while safeguarding vulnerable communities.
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Sinar Daily
15 minutes ago
- Sinar Daily
Malaysia does not sacrifice national interests for special treatment
He said preserving the country's unique policies includes protections for strategic industries and Bumiputera provisions. 04 Aug 2025 12:42pm Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz - Photo by Bernama KUALA LUMPUR - Malaysia does not sacrifice national interests to obtain special treatment; instead, bilateral negotiations with the United States recently maintained the country's unique policies. Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said preserving the country's unique policies includes protections for strategic industries and Bumiputera provisions. "The United States grants Malaysia equivalent rates because of the recognition of Malaysia's importance as a major trading partner and Malaysia's ability to offer quality trade and investment commitments, even without fully opening all sectors." "Malaysia also demonstrates its significant position as a stable, competitive, and trusted country in the global supply chain," he told the Dewan Rakyat today during a ministerial briefing on reciprocal trade negotiations with the United States. Tengku Zafrul emphasised that achieving the new rate demonstrated that developing countries like Malaysia can access international trade without succumbing to absolute liberalisation pressures. "This model also serves as an example to regional countries that 'red lines' can be defended if the country is clear about its values, strategies, and commitments offered," he said. Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz - Photo by Bernama On Aug 1, 2025, the new US tariff rate for Malaysia was announced at 19 per cent, a six percentage point reduction compared to the rate announced on July 7, 2025. Meanwhile, he said Malaysia and the United States are in the process of reaching an agreement on a joint statement that encompasses the outcomes of the negotiations and the commitments mutually agreed upon. "This statement will be issued soon. Both sides will also continue discussions on the details of the Reciprocal Trade Agreement that needs to be ratified to ensure all commitments are implemented," he added. The United States is Malaysia's largest export destination, with an export value of RM198.65 billion, and one of Malaysia's main sources of foreign investment for 2024, amounting to RM32.82 billion. - BERNAMA More Like This
Daily Express
an hour ago
- Daily Express
Ringgit strengthens against US dollar amid US rate cut expectations
Published on: Monday, August 04, 2025 Published on: Mon, Aug 04, 2025 By: Bernama Text Size: At 8 am, the local currency rose to 4.2350/2550 against the greenback, up from Friday's close of 4.2750/2815. Kuala Lumpur: THE ringgit opened stronger against the US dollar on Monday as renewed expectations of a Federal Reserve rate cut emerged following weaker-than-expected US labour market data. At 8 am, the local currency rose to 4.2350/2550 against the greenback, up from Friday's close of 4.2750/2815. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid attributed the ringgit's rebound to disappointing US Non-farm Payroll (NFP) figures. The US Bureau of Labour Statistics reported only 73,000 jobs added in July, well below market forecasts of 110,000. 'The weaker labour market strengthens the case for a Fed rate cut in September,' said Mohd Afzanizam. 'The US Dollar Index (DXY) has already dropped to 98.708 points, while the 2-year US Treasury yield fell sharply by 25 basis points to 3.69 per cent last Friday.' He added that the ringgit, which depreciated by 0.22 per cent on Friday, could trade between 4.26 and 4.27 today. However, the local currency weakened against other major currencies, slipping against the Japanese yen, British pound, and euro. In contrast, the ringgit strengthened against regional currencies, rising against the Singapore dollar but dipping slightly against the Thai baht. It also gained against the Philippine peso and Indonesian rupiah. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
New Straits Times
2 hours ago
- New Straits Times
MyKad eases access to Sara aid, brings relief to longhouse residents
SERIAN: Longhouse residents deep in Sarawak's interior are breathing a sigh of relief as they can now access the Sumbangan Asas Rahmah (Sara) aid directly using their MyKad at nearby grocery shops — without having to travel to town or deal with cumbersome procedures. Besides saving time and cost, the approach ensures the government's targeted aid reaches those in need directly and without delay. Tuai rumah (longhouse head) of Kampung Reah Baru Longhouse, Guang Latip, 69, said previously, the residents had to travel 35km to Serian town just to withdraw the aid. "In the past, it was quite difficult to claim the aid because we had to go to the bank, but now it's very convenient as we just use our MyKad and can go directly to the shop to buy food and daily essentials," he told Bernama. cHe said the system was more efficient, particularly given Sarawak's vast geography and its large number of communities living in remote areas. Guang said all 78 families in the longhouse, which was built in 2011, including nearby residents, are eligible to receive Sara aid this year. Meanwhile, aid recipient Minang Dawi, 43, a housewife with three young children, expressed gratitude, saying the method has made things much easier for her. "I don't have to leave my children behind just to claim the aid in town. Now I can use my MyKad directly to buy milk, rice and groceries," she said. She hoped the government would consider the number of family members when determining the amount of aid, rather than basing it solely on household income. For Madlein Ngaran, 52, the aid has been a great help as she lives alone in the longhouse. "When the aid can be used just with MyKad verification, I can manage my grocery needs on my own without depending on my children," she said. The Sara programme is a targeted cash initiative that has now been expanded to 5.4 million recipients, covering 700,000 existing eKasih recipients and 4.7 million Sumbangan Tunai Rahmah (STR) recipients. Under Budget 2025, allocations for STR and Sara have been increased to RM13 billion from RM10 billion previously, with the annual Sara aid raised to RM2,100 from RM1,200 last year. The initiative is part of the Madani Economy framework, which focuses on empowering low-income households through fair opportunities, better living standards and comprehensive social protection. In conjunction with National Day, the government has also announced a one-off payment of RM100 to all Malaysian citizens aged 18 and above under the Sara programme. The initiative is expected to benefit 22 million people, involving an additional RM2 billion, bringing this year's total allocation for STR and Sara to RM15 billion – the highest in the nation's history. As of July 29, a total of 4,500 registered retail outlets nationwide have joined the SARA programme, offering over 90,000 essential items in 14 categories, including rice, eggs, medicines, hygiene products, school supplies and personal care items. – BERNAMA
