Bitget Strengthens Regional Presence at Malaysia Blockchain Week 2025
Bitget CEO Gracy Chen delivered a keynote address titled "Two Strategies to Thrive in a Volatile Market." She spotlighted Bitget's focus on real-world utility, from its $300M user Protection Fund to new tools like GetAgent (an AI trading helper) and xStocks for tokenized equities. Gracy pointed to her 2024 MYBW visit as the turning point. This year, she unveiled PayFi, Bitget's bid to simplify cross-border crypto payments in emerging markets.
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New Straits Times
2 hours ago
- New Straits Times
Onn Hafiz is 82nd Lee Kuan Yew Exchange Fellow
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Barnama
3 hours ago
- Barnama
Malaysia's Real GDP Growth Forecast Raised To 4.5 Pct In 2025, 4.0 Pct In 2026 -- IMF
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Free Malaysia Today
3 hours ago
- Free Malaysia Today
Federal debt at RM1.3tril as of end-June
Deputy finance minister Lim Hui Ying said the government remains committed to achieving a fiscal deficit target of below 3% of the GDP, and keeping the debt-to-GDP ratio under 60% in the medium-term. (Bernama pic) KUALA LUMPUR : Malaysia's federal debt rose to RM1.3 trillion at the end of June, largely driven by continued fiscal deficits to fund public development spending, says deputy finance minister Lim Hui Ying. Speaking in the Dewan Rakyat today, Lim said the increase from RM1.25 trillion at the end of last year was to support strategic development expenditure, including infrastructure, education, healthcare, and social protection programmes. She said the fiscal deficit reduced from 5.5% of the gross domestic product (GDP) in 2022 to 4.1% last year, and is projected to fall further to 3.8% in 2025. Debt growth is also slowing, from 10.2% in 2022 to 6.4% in 2024, with a further drop to around 6% projected for 2025. 'This is in line with the government's commitment to achieving a fiscal deficit target of below 3% of GDP, and keeping the debt-to-GDP ratio under 60% in the medium-term, as provided under the Public Finance and Fiscal Responsibility Act,' Lim said in response to a question from Ngeh Koo Ham (PH-Beruas) during an oral question-and-answer session. Lim also outlined several control measures to curb debt growth, including broadening revenue base, rationalising subsidies, and enforcing strict guidelines for government guarantees and public-private partnerships. She said future borrowings would also be limited to high-impact development projects, while government guarantees would be capped at 25% of the GDP under the Public Finance and Fiscal Responsibility Act. To strengthen governance, enhance accountability, and improve institutional efficiency, the government is in the process of drafting the Government Procurement Bill and another bill to regulate state-owned enterprises, she added. BMI, a Fitch Solutions company, previously reported that Malaysia would likely miss its fiscal deficit target this year, as spending was seen exceeding projections and revenue might fall. Separately, Lim said household debt in Malaysia stood at RM1.65 trillion as at the end of March 2025, or 84.3% of the GDP. She said this should be viewed in the context of household financial assets remaining significantly higher than the total debt, indicating that the public's overall financial position remained strong. 'On aggregate, household financial assets continue to exceed debt by 2.1 times, providing a solid buffer for households,' she said in response to Awang Hashim (PN-Pendang), who inquired about the debt-to-GDP ratio. She added that the government and Bank Negara Malaysia remained committed to assisting credit users who faced financial difficulties.
