Govt saves RM135mil in three months from egg subsidy cut
He said the reduction and eventual removal of the egg subsidy is not expected to affect the stability of the egg supply, as the industry is currently showing positive trends, including a drop in poultry feed costs.
"The retargeting of subsidies and removal of price controls on eggs will enable the government to reduce expenditure and reallocate subsidy funds to initiatives and programmes that provide direct benefits to the people," he said in reply to Datuk Seri Sh Mohmed Puzi Sh Ali (BN-Pekan).
Sh Mohmed Puzi was asked about the retargeting of the egg subsidy from 10 sen to 5 sen per egg, the savings through the reduction in subsidy expenditure, the impact on the egg market, and the effect on the overall cost of living.
Mohamad said at present, the supply of chicken eggs remains stable and is being sold at reasonable prices.
He said this month, the estimated monthly egg production is 1.75 billion eggs, while domestic consumption needs are estimated at 1.06 billion eggs.
"This indicates a surplus of approximately 0.69 billion eggs, part of which will be allocated for export markets."
He said the annual inflation rate for chicken eggs recorded a decline of 5.3 per cent in May.
"However, this decrease has not occurred uniformly across all egg grades, likely due to a market price adjustment phase following the implementation of targeted subsidies."
He said to ensure egg supply and prices remain stable, the ministry, together with the Domestic Trade and Cost of Living Ministry, will continue close monitoring of the egg market to prevent supply disruptions and profiteering that could burden consumers.
"Both ministries are also carrying out continuous enforcement and monitoring measures to maintain price stability and prevent any leakages that may undermine consumer interests."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
39 minutes ago
- The Star
Tackling current business issues
INDUSTRY experts gave tips at the recent Star Outstanding Business Awards 2025 LAB participants on how to navigate the challenging times wrought with geopolitical uncertainties. Then in the second session, the panel of experts explored different methods that small and medium enterprises (SMEs) seek financing outside of the conventional practice of approaching normal financial institutions. The afternoon event, which was held at Menara Star to a packed audience, was attended by Star Media Group chief executive officer Chan Seng Fatt and chief operating officer Lydia Wang. Similar to previous labs, there were two sessions that covered two distinct topics. The first topic explored the challenges that companies face in light of 'The Tariffs and Taxes Aftermath: What is Next for Malaysian Businesses?' Moderated by the Malaysia Entrepreneurs and Development Association president Datuk Teh Tai Yong, the topic was discussed by panel speakers past SOBA winner Mega Fortris Berhad group managing director and group chief executive officer Datuk Adrian Ng, PKT Logistics Group Sdn Bhd chief operations officer Dr Jason Cheah and Malaysia External Trade Development Corporation (Matrade) strategic planning division director Noor Hayati Abu Noh. The speakers discussed the different scenarios that businesses have to confront, from the 25% tariffs imposed by the United States to the expanded Sales and Service Tax from the government as well as instances of supply chain disruptions due to the civil unrest in the Middle East. Ng advised businesses to understand themselves and to draw back until the time is right to scale back up. Noor Hayati both touched on the importance of diversification, either in business or which country to trade with. Cheah urged SMEs that it is time to start looking into environment, social and governance matters as it has a profound impact. The second session, which was moderated by Associated Chinese Chambers of Commerce and Industry of Malaysia treasurer Datuk Koong Lin Loong, gave SMEs enlightening information on 'Raising Funds and Accessing Capital for Business Growth'. Speakers in this session included RHB Bank Berhad SME banking, SME engagement head Sim Ee Chiew, Credit Guarantee Corporation Malaysia chief business officer Sean Tan, PEOPLElogy Berhad founder Allen Lee and Hernan Corporation founder and group CEO Datuk Anna Teo. The panel gave a lively session as Teo declared she rarely approached banks for financing. She asked businesses to be more flexible and explore other possibilities. While banks would be the first step for budding businesses, she said entrepreneurs should network and ask about other alternatives, such as private equities. Tan explained that CGC's job is to transfer the credit risks from a bank to CGC. In the event a business fails, and the SME is unable to pay, CGC will provide the necessary relief. Ng shared his experience of raising funds via the initial public offering route, which he said was 'more challenging because (Bursa Malaysia) wants the public to trust you (hence the need for) transparency.' Sim said that banks do much more than just provide loans, they help enhance cash flow and operation efficiency in order to eliminate idle cash, as well as digitalisation services. Besides the panel discussions, SOBA sponsors introduced their business models and some of their services to the participants. CGC's SME advisory and strategic alliances head Mike Wong talked about some of the services that are available to SMEs that are seeking ways to finance their companies. PKT Logistic's presentation was on the company's diversified range of services, from logistics and education to its own inland port, presented by Cheah. RHB Bank SME business development head Kelvin Chin and U Mobile Sdn Bhd commercial pre-sales section head Lim Swee Mei showcased the services that would benefit SMEs in their businesses. SOBA 2025 is organised by SMG with CGC, PKT Logistics, RHB Bank and U Mobile as main sponsors, Great Wall Motor Malaysia as co-sponsor, and Matrade as the official trade promotion partner. It is audited by BDO while radio stations 988 and Suria are official media partners. For details, call the SOBA hotline at 017-231 1789 or visit Look out for the announcement of the next SOBA LAB 2025, which will be held on Aug 14 at Iconic Hotel, Bukit Mertajam, Penang.
New Straits Times
3 hours ago
- New Straits Times
RM7.43mil Creative Content Fund powers 42 Sabah, Sarawak projects
KOTA KINABALU: A total of 42 Creative Content Fund (DKK) applications from production companies in Sabah and Sarawak, worth RM7.43 million, have been approved from 2022 up to this month, said Communications Minister Datuk Fahmi Fadzil. He said the approved applications spanned various categories, including feature and short films, documentaries, marketing, scriptwriting, and post-production, creating over 1,245 jobs. "As of this month, the National Film Development Corporation Malaysia (Finas) has also received 36 applications for the Borneo TV Programme Fund and 24 for the Post-Production Fund. All applications are evaluated transparently and with integrity by a committee comprising professional panellists and ministry representatives," he said. He was speaking at the presentation of Creative Content Fund letters of acceptance to Sabah's creative industry players here last night. Also present were Assistant Minister to the Chief Minister Datuk Nizam Abu Bakar Titingan, Communications Ministry secretary-general Datuk Mohamad Fauzi Md Isa, Finas chairman Datuk Hans Isaac, Finas chief executive officer Datuk Azmir Saifuddin Mutalib, Malaysian National News Agency (Bernama) chief executive officer Datin Paduka Nur-ul Afida Kamaludin, and Information Department director-general Julina Johan. Fahmi further said that under the DKK, 14 local production companies have been offered the Borneo TV Programme Fund, including six from Sabah. He said the six Sabah companies received approvals amounting to RM1.15 million, with over 200 new jobs expected to be created. "As for the Post-Production Fund, nine companies received offers, one of which is from Sabah. For Sabah, one project was approved with a value of nearly RM240,000, adding value to the post-filming process," he said. He added that the total amount approved for the seven Sabah companies under the Borneo TV Programme Fund and the Post-Production Fund stood at RM1.39 million. Fahmi said various success stories have emerged through government grants and incentives, including the film Blood Brothers: Bara Naga, which grossed RM73.6 million, Bleat! which made a mark at Cannes, and most recently Ejen Ali The Movie 2, which opened in Indonesia with over 200,000 viewers in its first week. Fahmi added that the Communications Ministry, through Finas, has agreed to collaborate with Borneo TV via the Borneo TV Programme Fund, with content produced by recipients to also be aired on the Borneo TV platform. Meanwhile, Chief Minister Datuk Seri Hajiji Noor said the DKK has opened up vast opportunities for the people of Sabah to showcase their stories, culture, and heritage through various mediums such as films, documentaries, and television programmes. "Sabah possesses extraordinary sociocultural diversity – with more than 30 ethnic groups and over 200 sub-ethnicities. This makes the state one of the richest regions in terms of oral, visual, and narrative culture, which deserves attention as a source of authentic content," he said. He added that Sabah's natural beauty gives it a distinct advantage when translated into creative content capable of attracting both local and international audiences. The text of his speech was read out by Nizam. - BERNAMA
BusinessToday
5 hours ago
- BusinessToday
PSmall Change, Big Impact, Whistleblower Act Amendment Passed In Parliament
The Dewan Rakyat today passed the Whistleblower Protection (Amendment) Bill 2025, marking a landmark legislation, which amends the Whistleblower Protection Act 2010 (Act 711), which is expected to significantly strengthen safeguards for individuals who report improper conduct, particularly in cases involving public interest. The passage of the bill marks a crucial step in addressing long-standing concerns about the effectiveness of existing whistleblower protections in Malaysia. A key amendment widely lauded is the removal of the proviso in Section 6(1) of the principal Act. Previously, this clause denied protection to whistleblowers if their disclosures contravened any other written law, such as the Official Secrets Act (OSA) or Section 203A of the Penal Code. Bangi MP Syahredzan Johan, debating the bill, highlighted the 'profound impact' of this change. 'The amendment may seem simple, just a deletion of a provision, but its impact is profound,' he told the Dewan Rakyat. 'Previously, whistleblowers were only protected if the disclosure didn't contravene any written law. That meant if they revealed information under the Official Secrets Act (1972) or Section 203 of the Penal Code, they weren't entitled to protection. This effectively disqualified many honest individuals who wanted to report wrongdoing.' The revised clause now allows disclosures made in the public interest to qualify for legal protection, even if the information in question would otherwise be restricted under secrecy laws. Another notable amendment allows authorities to exercise discretion in granting protection to whistleblowers who may themselves be implicated in misconduct, provided that such protection serves the public interest. This aligns Malaysia's approach more closely with international best practices, recognizing that insiders, even those with some involvement, are often the only ones with knowledge of hidden wrongdoing. The bill also includes the establishment of a Whistleblower Protection Committee. This committee will be tasked with overseeing the implementation of the Act, collecting data on whistleblower complaints, and providing general oversight on the powers of enforcement agencies. However, some civil society groups, including the Center to Combat Corruption and Cronyism (C4 Center), have previously voiced that while a positive step, this committee falls short of a fully centralized, independent whistleblower protection agency, calling for a clear timeline for such an establishment. Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said had earlier emphasiaed the importance of whistleblowers channeling their disclosures through proper enforcement agencies to ensure authenticity and avoid risks to national security. She also confirmed that enhanced protections under Section 7 of the Act now include specific references to the Witness Protection Act 2009 (Act 696), allowing for additional safeguards like relocation or new identities in serious cases. Related
