13MP: 'Let EPF contributors decide on full withdrawal or monthly payout'
This followed Putrajaya's unveiling of its 13th Malaysia Plan (13MP) yesterday, where the government said it wants to explore a new mechanism that can ensure a more steady and continuous financial payout for EPF members.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
34 minutes ago
- The Sun
KKR to modernise Malaysia's infrastructure under 13MP for urban and rural areas
KUALA LUMPUR: The Public Works Ministry (KKR) will integrate cutting-edge technology into strategic infrastructure projects under the 13th Malaysia Plan (MP13), focusing on road networks, highways, bridges, and public facilities. In a statement today, KKR emphasised that MP13 is not just about physical development but also aims to uplift living standards for all Malaysians, ensuring equitable progress across urban and rural regions. 'KKR is committed to realising the MADANI government's vision for the people. We will enhance service delivery to ensure high-quality, sustainable, and safe infrastructure,' the ministry stated. As the national construction sector leader, KKR will expand the use of modern methods like Building Information Modelling (BIM) and the Industrialised Building System (IBS) to improve efficiency, quality, and reduce foreign labour dependency. Digitalisation efforts will also be prioritised through initiatives such as MyJalan, the Highway Network Development Plan, and the Road Accident Management System to optimise planning and maintenance. The ministry highlighted that these measures aim to deliver cost-efficient infrastructure by minimising project delays, which could otherwise increase national spending and defer public benefits. MP13, tabled by Prime Minister Datuk Seri Anwar Ibrahim, includes key projects like the Rantau Panjang–Sungai Golok bridge upgrade (Malaysia-Thailand link) and the Kalabakan–Simanggaris road (Malaysia-Indonesia connection). Other major developments include the Central Spine Road (Bentong to Kuala Krai), the Pan Borneo Highway completion in Sabah and Sarawak, and the Sarawak–Sabah Link Road. The Prime Minister also announced upgrades for major highways and 2,800 km of rural roads by 2030. 'MP13 is not just about infrastructure—it's about rebuilding hope and public trust in Malaysia's future,' KKR affirmed. - Bernama
New Straits Times
an hour ago
- New Straits Times
Govt to carry out surprise checks on 13MP projects
PUTRAJAYA: The government will conduct regular and surprise checks on the implementation of all projects under the 13th Malaysia Plan (13MP). Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar said the Policy Implementation Monitoring System (PPD), mentioned by Prime Minister Datuk Seri Anwar Ibrahim during the 13MP tabling on Aug 1, will be jointly managed by the Finance and Economy Ministries. "We have scheduled reporting, twice a year if I'm not mistaken. "This time, we will ensure everything proceeds as planned since it spans until 2030. "I will personally carry out regular monitoring, surprise checks and project site visits," he told reporters after flagging off the 20th Premier Public Service Assembly (MAPPA XX) Run at Dataran Putrajaya this morning. Also present was Public Service Department director-general Tan Sri Wan Ahmad Dahlan Abdul Aziz. During the 13MP tabling in the Dewan Rakyat, the prime minister said monitoring mechanisms would be strengthened through the PPD system, while the 13MP governance structure would be implemented in stages up to Cabinet reporting. Shamsul Azri also urged civil servants to ensure approved projects are promptly executed. He acknowledged that every project has its own timeline, but warned delays would frustrate the public who are meant to benefit. "Our purpose is to serve the people. We are supposed to make them happy. "So we must carry out development swiftly, without delay and free of bureaucracy," he said. Major 13MP projects include the construction and upgrading of 2,800km of rural roads in Sarawak, Perak and Pahang; a road-to-rail cargo initiative to reduce road accidents; infrastructure projects to strengthen cross-border connectivity and the economy; upgrading of Bukit Kayu Hitam and Rantau Panjang Immigration, Customs, Quarantine and Security (ICQS) complexes and Sabah and Sarawak Customs, Immigration and Quarantine (CIQs); and the construction of one million affordable homes by the federal and state governments and private developers between 2026 and 2035.
New Straits Times
2 hours ago
- New Straits Times
Construction index jumps 3.1 per cent
KUALA LUMPUR: Bursa Malaysia Construction Index jumped more than three per cent following the government's announcement of a RM430 billion development expenditure (DE) under the 13th Malaysia Plan (13MP). At the close of trading, the Construction Index surged 3.10 per cent or 9.65 points to end at 321.17, up from 311.52 previously. The strong performance placed the construction sector at the top of the market, outperforming all other sectors. Financial services followed with a 1.91 per cent gain, while other advancing sectors included technology, which rose 1.05 per cent, property up 0.95 per cent, energy adding 0.17 per cent and real estate investment trusts up 0.17 per cent. On the downside, telecommunications and media fell 0.80 per cent, plantation dipped 0.33 per cent, consumer products and services declined 0.28 per cent, and utilities slipped 0.27 per cent. Transportation and logistics dropped 0.3 per cent, while healthcare ended 0.2 per cent lower. The broader market also saw moderate gains, with the FTSE Bursa Malaysia KLCI climbing 20.10 points, or 1.33 per cent, to settle at 1,533.35, as investors reacted to the long-term economic outlook presented in the 13MP. Ekovest Bhd emerged as one of the most actively traded construction stocks, with 62.79 million shares changing hands by the close. The counter rose 4.82 per cent, gaining two sen to end at 43.5 sen. Other notable construction stocks included Gamuda Bhd, which recorded a trading volume of 22.74 million shares, followed by WCT Holdings Bhd with 16.57 million, Econpile Holdings Bhd at 16.07 million, IJM Corporation Bhd with 13.50 million, and Bina Puri Holdings Bhd with 10.43 million shares. Prime Minister Datuk Seri Anwar Ibrahim tabled the 13MP in Parliament on Thursday, outlining a RM430 billion allocation for development spending between 2026 and 2030, up from RM415 billion under the previous plan. Key infrastructure initiatives under the 13MP include the continuation of the East Coast Rail Link to strengthen east-west connectivity, and the Gemas–Johor Bahru double-tracking project to improve rail transport in the south. In Johor Baru, the government will roll out an Electrified Economic Rail Transit system to enhance regional mobility. Penang's public transport network will also be expanded through the Light Rail Transit Mutiara Line, while the cross-border Rapid Transit System Link is expected to improve connectivity with Singapore. In East Malaysia, the Pan Borneo Highway and a feasibility study for the proposed Trans-Borneo Railway are expected to enhance inter-state transport infrastructure in Sabah and Sarawak. The plan also includes upgrades to Penang and Miri airports to support the growth of tourism and logistics. CIMB Securities said the higher DE is expected to drive renewed momentum in public infrastructure spending starting from the fourth quarter of 2025. This momentum is likely to accelerate further in 2026 and 2027 ahead of the next general election scheduled for 2028. "We also anticipate increased DE spending in East Malaysia, where both Sabah and Sarawak are due to call for fresh state elections by 2025 and 2027 respectively," it added. Affin Hwang Investment Bank Bhd said the DE allocation is a positive catalyst for construction firms, driven by expectations of increased infrastructure spending. This is especially beneficial for larger contractors with strong balance sheets that are well-positioned to undertake public-private partnership projects such as Gamuda, IJM Corporation Bhd and Sunway Construction Bhd, which typically works in collaboration with its parent company, Sunway. RHB Investment Bank Bhd said the DE is expected to continue supporting infrastructure growth in the country. The firm maintained its "Overweight" call on the sector, citing expectations of a stronger pipeline of development projects under the plan.
