Bank Rakyat charts new course
Established in 1954 under the Cooperative Ordinance 1948, it began as a small cooperative banking initiative meant to serve rural Malaysians and civil servants.
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RM 13.90/month
RM 9.73 /month
Billed as RM 9.73 for the 1st month, RM 13.90 thereafter.
RM 12.39/month
RM 8.63 /month
Billed as RM 103.60 for the 1st year, RM 148 thereafter.
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New Straits Times
26 minutes ago
- New Straits Times
Bank Negara's revised growth projection realistic
KUALA LUMPUR: Bank Negara Malaysia's revised 2025 growth forecast is a realistic target, driven by resilient domestic demand, policy support and targeted fiscal measures, economists said. The central bank on Monday lowered its projection to to 4.0-4.8 per cent from 4.5-5.5 per cent due to a more cautious global outlook amid escalating geopolitical risks and trade tensions. Bank Muamalat Malaysia Bhd chief economist Dr Afzanizam Abdul Rashid said Malaysia's domestic economy remains a vital anchor, noting continued job creation and rising investment activity. "We have to acknowledge that our domestic demand is still resilient. The unemployment rate is currently at 3.0 per cent as of May 2025, the lowest since April 2015. "This would mean more Malaysians are employed and have been receiving income which allows them to spend," he told Business Times. Afzanizam added that the sharp rise in capital goods imports reflects sustained investment momentum, suggesting that businesses are continuing to spend on expansion and productivity despite external uncertainties. He also pointed to recent policy moves, including lower overnight policy rate (OPR) and a RM2 billion fiscal package featuring direct cash transfers, as signs that policymakers are actively managing risks. "All this should be able to mitigate the impact from the US tariff shocks and heightened geopolitical risks. I would say it's a realistic target," he added. Echoing similar sentiments, economist Dr Geoffrey Williams said the downward revision has been anticipated and aligns with broader expectations. However, he cautioned that the lower end of the new range is more likely due to tariffs. "Domestic demand is robust and will be helped by lower OPR and the RM100 cash handouts. "Although total trade and exports have been strong, it is net trade that matters for growth and this has been squeezed very much by front-loading and volatility due to the delayed tariff negotiations," he said. Williams noted that securing a favourable tariff deal is crucial for Malaysia to stay competitive with regional peers like Vietnam and Indonesia. He said failing to do so could shave up to one per cent off GDP growth or RM20 billion as a result of protecting domestic markets and preserving policies like Bumiputera preferences. Williams said the current policy stance is appropriate and further interest rate cuts are unnecessary for now. "The OPR cut should keep growth within the new forecast range so there is no need to cut further." INFLATION OUTLOOK AND SUBSIDY RATIONALISATION Bank Negara also revised its headline inflation forecast for 2025 sharply lower, now expecting it to average between 1.5 and 2.3 per cent from the previous range of 2.0-3.5 per cent. It said the inflationary pressure from global commodity prices is expected to remain limited, contributing to moderate domestic cost conditions. Meawnhile, the impact of domestic policy measures is expected to remain contained. Afzanizam said falling oil prices and the government's approach to targeted subsidies have played a key role in moderating price pressures. He said the lower crude oil prices trajectory has helped to reduce the subsidies bill and be able to open the window of opportunity for the government to enact the fuel subsidies rationalisation. "Furthermore, the government remain consistent in their approach with respect to subsidies as they aspire to give the subsidies to those who are qualified. "On that note, the impact from the RON95 subsidies rationalisation is likely to be manageable," he said. Williams said falling input prices are reinforcing disinflationary trends. "The falling producer price index is consistent with low consumer price index and reflects price caution due to trade tensions, lower oil prices and a strong ringgit. "It is likely that the lower PPI will be reflected in lower inflation for the year across all sectors. "This is good for consumers but reflects tight market conditions for businesses. Businesses are being competitive by moderating producer prices, so there is no need to interfere," he said.
Focus Malaysia
26 minutes ago
- Focus Malaysia
PMX comes under fire for mocking rabble-rouser Malaysians 'to go buy petrol in Singapore'
FORMER UMNO supreme council member Isham Jalil has led a chorus of detractors to troll Prime Minister Datuk Seri Anwar Ibrahim's out of the box notion that detractors who complained about high petrol prices in Malaysia should try to re-fuel in Singapore or for that matter even Thailand and Indonesia. For context, PMX who is also the Finance Minister had snubbed opposition leaders at Saturday's (July 26) Turun Anwar rally who criticised the proposed six sen RON95 price reduction to RM1.99/litre as being 'chicken feed' given such cut has to take into account implications to the nation's financial stability. 'First and foremost, Singapore has no oil companies. There are no oil wells either. That's why the price is expensive,' Isham who was expelled from UMNO on Dec 7, 2023 for opposing the party's collaborations with DAP in elections schooled PMX on his Facebook page. 'Secondly, while the petrol price in Singapore is four or five times that of our RON95, their per capita earnings is five to six times ours. If we adjust the per capita earnings with purchasing power parity, it is still three times higher than Malaysia. 'As their purchasing power is much higher than ours, it is most insensible of you to lash out at Malaysians by challenging them to buy petrol in Singapore.' The once special officer to incarcerated former premier Datuk Seri Najib Razak went on to chide PMX by reminding him that he was the one who previously claimed that oil companies in Malaysia made billions, hence he promised to further lower petrol prices in Malaysia upon assuming the premiership. 'But after 20 years of making promises, oil price only dropped by 6 sen/litre. Podah (literally, 'damn').' Elsewhere, Bersatu information chief Tun Faisal Ismail Aziz warned Malaysians against being overly elated with the RM1.99/litre price tag that was unveiled by PMX as part of his 'extraordinary tribute to Malaysians' package last week. 'Since when has the price of petrol come down? What was announced has not even been implemented yet,' he penned on his Facebook. This is a valid point given even if the RM1.99/litre price tag materialises, not all Malaysians might get to enjoy the six sen/litre discount on grounds that this is part of the fuel subsidy rationalisation exercise that ultimately entails a free float of RON95 (well-to-do motorists may end up having to pay RM2.50-RM2.60/litre). 'With the current fall in world crude oil prices, the fall in the value of the greenback and by using the Rafizi formula, Anwar should have been able to lower the price of RON95 petrol and diesel to RM1.70/litre now instead of end-September,' opined the former press secretary to then communications and multimedia minister Tan Sri Annuar Musa. 'It seems the Turun Anwar rally has had a huge impact on the brains and emotions of PMX, the Madanons, Walanons and most strangely, the UMDAP gang. In fact, the UMDAP gang has been experiencing postpartum blues since last Saturday.' – July 29, 2025
The Star
an hour ago
- The Star
BJAK 8.8 Giveaway: Over RM500,000 worth of prizes to be won
BJAK's 8.8 Giveaway rewards customers with over RM500,000 in prizes, including a brand-new BYD Seal, just by signing up for free insurance quotes. THIS August, BJAK is launching the largest auto insurance giveaway in Malaysia—offering over RM500,000 in prizes, including a brand-new BYD Seal, premium gadgets and more! 'We're not just helping Malaysians save on insurance—we're rewarding them for it,' said BJAK marketing head Mandy Foong. And the best part? No tricky contests or lucky slogans. Just sign up for a car insurance quote on BJAK, and you're automatically in the running. Apart from the grand prize of a BYD Seal, the campaign offers an exciting prize pool featuring free VIP Rescue Plan (unlimited towing and extended warranty), premium home appliances, tech gadgets and more. Customers who sign up now stand a chance to win big—just by doing what they were already planning to do. When they renew on Aug 8, customers will instantly receive a free VIP Rescue Plan (worth over RM300). This exclusive bundle unlocks BJAK's most requested add-ons at a fraction of the price—only on 8.8. To top it off, on the same day, BJAK will reveal the winners and other lucky recipients live on its social media platforms, across Facebook, TikTok and YouTube. Special guest hosts Scha Alyahya and Awal Ashaari will announce the winners at 9pm. Watch it unfold in real time and see who drives away with the grand prize. How to join With the campaign gaining momentum, Malaysians are encouraged to join, following the steps below: > Sign up for a car insurance quote on BJAK's website. > Select your prize of choice. > You're in the running—it's that simple. More entries offer higher chances of winning. So, you can sign up for your own car, your spouse's and your parents' as well—every signup counts. The campaign ends on Aug 8. Don't miss Malaysia's biggest insurance giveaway ever. For more information, visit
