MAG's Boeing deal part of long-haul fleet revamp, not tariff pressure, says Tengku Zafrul
The minister emphasised that MAG's purchase of Boeing aircraft was not a decision made abruptly or due to tariff pressures.
He said the decision was based on the need to replace the Boeing 737-800 planes, which have been in operation for an average of 14 years, to ensure the company's operational safety and sustainability.
'In 2016, MAG placed an initial order for 25 Boeing 737-8 MAX aircraft. Since November 2023, 13 planes have been received, with the remainder to be delivered progressively until 2027.
'On March 20, 2025, MAG finalised an additional order for 30 Boeing 737 MAX aircraft, with deliveries expected to take place from 2025 to 2035,' he told the Dewan Rakyat today during the ministerial briefing on reciprocal trade negotiations with the United States.
Tengku Zafrul also mentioned that there are 30 more aircraft currently in the planning category, with decisions to be made based on MAG's future growth strategies and plans.
'The value of this acquisition covers not only the aircraft price but also includes engine costs, training, maintenance, and long-term support,' he added.
Tengku Zafrul pointed out that Malaysia's aerospace industry would benefit from this decision, with Boeing having long been a key partner in the sector, including through Boeing Composites Malaysia (BCM) in Kedah, which supports Boeing's global supply chain and provides employment opportunities for local communities.
'Malaysian companies such as CTRM, UPECA, SME Aerospace, Plexus, and others are important suppliers of Boeing and Airbus components. Malaysia's aerospace industry contributed RM25.1 billion in 2024 and supports 30,000 jobs nationwide.
'At the same time, the country's tourism sector is showing a strong recovery, surpassing pre-pandemic levels. Boeing itself projects global passenger traffic growth of 4.7 per cent annually over the next 20 years,' he said.
Tengku Zafrul added that this investment in new aircraft enabled Malaysia to capitalise on the growth potential of both the tourism and aerospace industries. — Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malay Mail
24 minutes ago
- Malay Mail
MyKad or full price: Targeted RON95 subsidy plans to be unveiled by end-Sept, says MoF
KUALA LUMPUR, Aug 5 — The Ministry of Finance (MoF) said the detailed implementation plans for targeted subsidies for RON95 petrol will be announced by end-September 2025, in line with Prime Minister Datuk Seri Anwar Ibrahim's statement on July 23, 2025. In a written parliamentary reply, MoF said the government is actively developing and testing the subsidy targeting mechanism to ensure smooth execution upon rollout. 'This includes refining data from agencies such as the National Registration Department, Road Transport Department (JPJ), and the Department of Statistics Malaysia (DoSM),' it said. 'The government aims to adopt a more comprehensive approach to ensure RON95 subsidies reach the intended target groups.' MoF was responding to a question from Hulu Langat Member of Parliament, Pakatan Harapan's Mohd Sany Hamzan, who asked for an update on the subsidy retargeting implementation, particularly the front-end and back-end phases announced by the Ministry of Economy. According to MoF, once implemented, the retargeted subsidy mechanism will allow eligible Malaysians to enjoy RON95 at RM1.99 per litre through MyKad verification. Non-citizens and those ineligible for the subsidy will pay the unsubsidised market rate. — Bernama
Malay Mail
24 minutes ago
- Malay Mail
RMK13 on watch: Execution, discipline, and delivery — Ahmad Faiz Yazid
AUG 5 — The 13th Malaysia Plan (RMK13) outlines ambitious targets for 2026–2030: **4.5–5.5 per cent annual GDP growth and a fiscal deficit under 3 per cent by 2030**. It packages RM430 billion in five-year development expenditure (about RM86 billion per year) to drive these goals. Yet history reminds us that even large plans can stumble. RMK13's success will hinge on rigorous execution and fiscal discipline. We must not let it become another 'shelf document' of slogans and wish lists. Emphasising execution and fiscal discipline A recurring concern is that Malaysia's development blueprints often face a familiar hurdle: the implementation gaps. RMK13 itself warns that its effectiveness 'will depend more on how the money is spent' than the budget size. In other words, pouring cash into projects is not enough; we need strict controls to ensure timely, cost-effective delivery. This starts with reining in the ever-growing operating expenditure (OE) of the government. Under RMK13, operating costs (on wages, subsidies and debt servicing) are projected at a staggering RM1.81 trillion, much larger than the DE budget. If we fail to control these recurring expenses, even well-planned development spending cannot restore fiscal balance. In fact, interest payments alone now consume about 15 sen of every ringgit of revenue. Such non-productive debt servicing crowds out funds for schools, hospitals and infrastructure. Civil servants watch the live broadcast of the 13th Malaysia Plan (RMK13) presentation by Prime Minister Datuk Seri Anwar Ibrahim during a Bernama survey today. — Bernama pic In practical terms, each additional ringgit borrowed for debt repayment is a ringgit not available for growth initiatives. Over time, this undermines Malaysia's fiscal flexibility and risks crowding out investment. To keep the debt path sustainable, RMK13 must target a lower OE share of the budget. Any liberal subsidies or unchecked wage growth would dilute the gains from development projects. Hence, the plan's goals like halving the deficit mandate tough measures on spending. We should insist on annual budget reviews that explicitly map every expenditure line to the plan's targets, ensuring each ringgit advances a strategic outcome. History shows this is not a mere theory. Past auditor-general reports have exposed cost overruns and inefficiencies in state projects, with recent audits revealing irregularities in projects worth over RM48 billion. If RMK13 is to deliver its promise of productivity boosts and better living standards, it must include value-for-money checks on its biggest programs. For example, major infrastructure tenders and government-linked company ventures should be subject to rigorous audits and clear timelines. Transparent scorecards of progress (to be released each year) would keep implementation honest. In practice, this means linking the national budget to the plan's priorities so that voters and legislators can see exactly how policy commitments are funded. Beyond rhetoric: Linking plans to action Another risk is that RMK13 falls into the old ritual of planning without doing. In recent years, Malaysia's Five-Year Plans have become overloaded with frameworks and buzzwords, what critics call 'strategy soup'. Citizens outside the policy circles can barely recall the pillars of RMK12 or its '17 Big Shifts' under the Madani vision. This is not just an academic point: if people and even officials lose sight of the plan's core messages, implementation inevitably suffers. Therefore, RMK13 must break this cycle. It should be treated as a living contract with the nation, not a decorative launch event. The plan's authors (consisting of many government officials) and Cabinet must commit to institutional accountability. A first step would be to publish a frank 'report card' on RMK12, spelling out what policies worked, which fell short, and why. This would not only build trust but also guide better policy design. Going forward, every ministry budget (from 2026 onward) should be tagged against the plan's priorities, effectively making the budget a GPS to track the plan's journey. In other words, spending decisions cannot be made in a vacuum: each ringgit should contribute to specific plan targets (as if raising exports, cutting poverty, improving human capital). The plan's presentation itself should become simpler and more results-focused. Instead of drowning readers in dozens of sub-themes, it is recommended to focus on four or five outcomes that matter most to Malaysians, such as wage growth, affordable energy, efficient public services, digital skills and effective social safety nets. Clear KPIs (key performance indicators) for each outcome would then be set and publicised. For instance, goals like 'full employment by 2030' or 'average household income of RM12,000' should have intermediate milestones and timelines, not be vague ambitions. Other countries serve as proof of concept: South Korea runs a national dashboard tracking every agency's five-year targets, while Indonesia's planning agency links its development plan to real-time implementation updates. Malaysia can do the same. By reporting on progress quarterly or annually, perhaps via a user-friendly online portal, we turn the plan from a static document into an ongoing monitoring process. An empowered existing Economic Planning Unit under the Ministry of Economy or secretariat should be charged with keeping this data updated and public. Critically, citizen engagement must be built into RMK13. The plan should launch with an online platform where any Malaysian can check progress, download data, and even give feedback. Such a portal would help move away from opaque decision-making. If people can see which projects are on schedule and ask questions (or flag issues), political leaders will feel more accountable. Transparency breeds trust: a development plan becomes a genuine social contract with the rakyat, rather than an elite blueprint gathering dust. * Ahmad Faiz Yazid holds a Bachelor of Economics from Universiti Malaya and is currently a Graduate Executive Trainee at Permodalan Nasional Berhad (PNB). ** This is the personal opinion of the writer or publication and does not necessarily represent the views of Malay Mail.
Malay Mail
24 minutes ago
- Malay Mail
Aspire Announces Return of Founders Night, Singapore's Largest Event for Startup Founders
Back this September with a bold new theme — The Champions Arena — and over 200 founders, investors, and ecosystem leaders. Founders Night: The champions arena SINGAPORE - Media OutReach Newswire – 5 August 2025 – Aspire , leading all in one finance platform for modern businesses, today announced the return of Founders Night, its annual flagship event and Singapore's largest gathering for startup founders. Happening on September 4, 2025, the invite-only event will bring together over 200+ funded founders, investors, and ecosystem year's theme, The Champions Arena, draws inspiration from elite athletes — a nod to the stamina, resilience, and sharp execution required to build something from scratch. Held in central Singapore, the experience is designed to take founders out of the boardroom and into an arena of connection, storytelling, and recognition. Visa joins this year as the event's platinum sponsor, underscoring its shared mission to back the next generation of business leaders. In previous years, Founders Night has been proudly supported by leading ecosystem partners including Amazon Web Services Singapore Global Network and many more.'Founders Night was born as a tribute to the builders behind the most innovative companies,' said Andrea Baronchelli, Co-founder and CEO of Aspire. 'It's not a typical networking event or a panel. It's a moment for founders to come together, celebrate each other, and acknowledge the challenges and triumphs that come with building something from the ground up.'The event is an extension of FoundersXchange, Aspire's growing global community of 700+ startup founders. Through curated events, startup perks, and direct VC connections, FoundersXchange continues to support entrepreneurs from day one through scale. Founders Night has grown to become a key fixture on the region's startup calendar, known for its founder-first ethos, immersive themes, and high-calibre attendee 4, 2025Central SingaporeHashtag: #Aspire The issuer is solely responsible for the content of this announcement. Aspire Aspire is the all-in-one finance platform for modern businesses globally, helping over 50,000 companies save time and money with international payments, treasury, expense, payable, and receivable management solutions - accessible via a single, user-friendly account. Headquartered in Singapore, Aspire has 600+ employees across nine countries, clients in 30+ markets and is backed by global top tier VCs, including Sequoia, Lightspeed, Y-Combinator, Tencent and Paypal. In 2023, Aspire closed an oversubscribed US$100M Series C round and announced that it has achieved profitability.
