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Perth Now
5 days ago
- Business
- Perth Now
NZ weather events prompt rethink of housing protections
The New Zealand government is considering ending bailouts for homeowners affected by floods and landslides as it develops a framework to address the impact of climate change. The government has often stepped in after natural disasters to buy properties, spending billions of dollars in recent years as climate change-driven severe weather events increase in intensity and frequency. The government "won't be able to keep bailing out people in this way", New Zealand Prime Minister Christopher Luxon told Radio New Zealand this week. "We need to find a way to manage these events going forward and who takes responsibility and is there a shared responsibility." Policymakers, researchers and property experts both in New Zealand and Australia have for some time warned climate change is a risk that home buyers have not priced in. His comments come as parts of the South Island start cleaning up after floods this month, which affected roughly 800 homes, according to local authorities. The government on Wednesday announced $NZ600,000 ($A550,403) in compensation for flood-affected farmers, growers and forestry owners. By 2060 at least 14,500 homes worth approximately $NZ12.5 billion ($A11.42 billion) could suffer at least one damaging flood, around 300 to 400 homes annually, according to Climate Sigma research. Climate Minister Simon Watts said in an email that the government has been working to get bipartisan support on a national adaptation framework to give New Zealand certainty. "This is a complex and challenging work," he said. "It is important that any change is enduring." Any policy changes would likely be introduced slowly. A recent independent report released by the Ministry of Environment suggested a transition over 20 years to allow pricing to adjust as expectations of government bailouts are tempered. The independent report released by the Ministry of the Environment recommended including the need for more information about the potential impact of natural hazards so owners can make their own decisions about whether to move or stay and bear the costs of that decision. Property records in New Zealand increasingly note whether there is a flood or landslide risk or history of either and homeowners in vulnerable areas are worried their houses will become less valuable.
Daily Express
08-07-2025
- Business
- Daily Express
All spending transparent and subject to audit, says Masidi
Published on: Tuesday, July 08, 2025 Published on: Tue, Jul 08, 2025 By: Larry Ralon Text Size: Masidi (seated) looking at the Supplementary Supply Bill (Amendment) 2025 while Sindumin Assemblyman Datuk Dr Yusof Yacob looks on. Kota Kinabalu: Sabah Finance Minister Datuk Seri Masidi Manjun firmly denied any suggestion that the State Government is attempting to conceal its expenditure ahead of the coming state election, stressing that all spending is fully transparent and subject to audit. He said the tabling of the 2025 Supplementary Supply Bill was grounded in experience and the best practices of State budget preparation. 'First and foremost, I would like to clarify that what we are presenting today is based on two key factors - our experience and practices in budget preparation; and to make it clear that there is no question of us concealing any expenditures just because we are approaching an election,' he said when winding up the debate on the Bill amounting to RM1,186,923,403, which was approved. According to Masidi, all government expenditures are subject to thorough and transparent audits to ensure no abuse of power or financial mismanagement. 'For the record, all spending will be audited. As Sabahans say, sooner or later, the truth will come out if something is amiss. So, in this context, there is no room for hiding expenditures that go against regulations,' he stressed. Masidi said the State Government works closely with the Malaysian Anti-Corruption Commission (MACC) to uphold the highest financial governance standards. 'We maintain a close working relationship with the MACC. In fact, every year we open the channels of communication as widely as possible with MACC to ensure there is no misconduct. We strive to comply with the best principles of governance in managing government finances,' he added. Masidi also said the proposal to channel at least RM500,000 in disaster relief funds to district offices requires further consideration due to legal and procedural constraints. He said the establishment of a Disaster Trust Fund in each district would first require tabling and approval by the State Assembly, as stipulated under Section 10 of the Financial Procedure Act 1957. 'However, my Ministry has found that setting up such a trust fund would take considerable time. Therefore, it would be more appropriate for the fund to be centralised under the Chief Minister's Department and supervised by the State Disaster Management Committee,' he said in response to the matter raised during the debate. He also assured that his Ministry pays close attention to the need to improve tourism assets and conserve heritage buildings throughout the State. However, he said these efforts are subject to the State Government's financial capacity. Masidi also clarified that the RM44 million allocated to the Office of the Deputy State Secretary (Special Tasks) was to support various educational aid programmes in Sabah. The breakdown of the allocation is as follows: Baik (Computer Aid Programme) – RM2 million for 1,000 laptops to be distributed to higher education students from eKasih or B40 families. Budi (Higher Education Registration Assistance) – RM10 million as one-off cash assistance of RM1,500 to RM2,000 for B40/M40 students enrolling at IPTs. Bakti (Special Exam Aid) – RM8 million for a one-off RM200 assistance to 40,000 B40 students sitting for SPM/STPM/STAM exams. Bagus (Parent-Teacher Association Aid) – RM3 million for 1,500 PTAs to carry out school-related activities. Bisbah (Sabah School Equipment Aid) – RM10 million to provide educational equipment to 1,600 schools. Bistari (State Education Trust Fund) – RM2 million in SSPN savings of RM100 each for newborns. Aksa (Education Excellence Award) – RM100,000 in awards for outstanding students/educators representing Sabah at national or international levels. Bantu (Education Programme Support) – RM1.3 million for education programmes that benefit students. Semesta (Sabahan Student Secretariat) – RM300,000 to fund student association activities across Malaysia and abroad. Balkis (Minor School Maintenance Aid) – RM4 million for small-scale school repairs costing below RM50,000. Mahas (Sabah Halal Council) – RM1.5 million for coordination, enforcement, halal expos and halal/syariah-compliant certification programmes. Bakpa (Religious Activity Support) – RM1.3 million for religious-related programmes. Sabah Language and Literature Council – RM500,000 to support activities related to local language and literature. 'The total allocation is intended to benefit students and educational institutions across the State, including initiatives related to student welfare, personal development and academic excellence,' said Masidi. He stressed that the State Government remains committed to delivering inclusive and comprehensive education support, despite current financial limitations. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Star
07-07-2025
- Business
- The Star
Sabah approves nearly RM1.2bil in additional allocation to address water and road issues
KOTA KINABALU: A whopping RM1,186,923,403 in additional allocation has been approved by the Sabah Legislative Assembly, with the bulk of the funds to be channelled towards addressing long-standing issues related to water supply and road infrastructure. Tabling the 2025 Supplementary Supply Bill, Finance Minister Datuk Seri Masidi Manjun said the additional funding was essential to ensure the smooth operation of the government's administration through to the end of the year. The approved amount will support 53 expenditure heads, spanning key sectors including infrastructure, welfare, education and public services. Masidi said a significant portion, RM523.5mil, has been earmarked specifically for tackling water and road problems that continue to plague various districts across Sabah. These, he stressed, were issues repeatedly raised by the public and often politicised. He explained that the RM1.19bil would be used across six core categories, including RM600mil for contributions to statutory funds, RM204mil for administrative expenses, RM195mil for operational costs, RM84milfor domestic grants, RM54.4mil for investments and RM50.7mil for special provisions. Of the statutory contributions, RM250mil is to be added to the State Development Fund to reduce the development account deficit, while RM150mil is to be added to the Road and Bridge Maintenance Trust Fund for urgent maintenance work statewide. Another RM200mil has been allocated under the State Government Special Trust Fund, supporting community-focused initiatives such as the People's Touch Programme (Syukur) and student assistance schemes like Budi, Sentosa, Subfly and Sukses. He added that these funds would also support water and utility projects. Masidi also highlighted the RM185.5mil allocated under General Treasury Services, which included RM54.4mil for equity investments, RM89.1mil for infrastructure upgrades such as water treatment plant improvements and pipe installations and RM30mil in domestic grants to Kota Kinabalu City Hall for marine waste clean-up and NGO support. Additional provisions were also made for various ministries, including RM147.6mil for the Public Works Ministry, RM94.4mil for the Chief Minister's Department and RM55.7mil for the Ministry of Agriculture, Fisheries and Food Industry. The state's Community Development and People's Wellbeing Ministry was allocated RM16.2mil, including RM4.5mil for the provision of 100 haemodialysis machines and RM11.1mil for disaster relief, assistance to vulnerable groups, and special needs children's programmes. Masidi stressed that every ringgit spent must bring real returns, whether through job creation, infrastructure improvements or better public services. 'This is the people's money. It must be used wisely and bring meaningful impact to their lives,' he said. While the bulk of the debate centred on the RM1.19bil operational provision, the State Assembly also approved an additional RM416.5mil under the 2025 Development Estimates. This separate allocation will finance 83 development projects across ten ministries, bringing the total supplementary budget to RM1.6bil. The development funds include RM254.9mil for the Public Works Ministry, RM82.5mil for rural development programmes, and RM38.5mil for special projects under the Chief Minister's Department. Masidi also reiterated the government's commitment to addressing infrastructure gaps and uplifting the people's quality of life, especially in rural and underserved areas. 'Our focus remains on delivering real solutions to the rakyat's most pressing needs such as clean water, reliable roads, education, and access to basic services,' he said.
Sinar Daily
25-06-2025
- Sinar Daily
Syed Saddiq faces Court of Appeal decision today
The appeal concerns one count each of abetting criminal breach of trust (CBT) and misappropriation of property, along with two charges of money laundering, all linked to alleged offenses that took place seven years ago. By NOOR AZLIDA ALIMIN AND TUAN BUQHAIRAH TUAN MUHAMAD ADNAN 25 Jun 2025 09:38am The 33-year-old was seen embracing his parents, who had arrived at the court as early as 7.38am. - Bernama photo PUTRAJAYA – Muar Member of Parliament Syed Saddiq Syed Abdul Rahman appeared at the Court of Appeal in Putrajaya on Wednesday to hear the outcome of his appeal against both his conviction and sentence. The appeal concerns one count each of abetting criminal breach of trust (CBT) and misappropriation of property, along with two charges of money laundering, all linked to alleged offenses that took place seven years ago. The 33-year-old was seen embracing his parents, who had arrived at the court as early as 7.38am. On November 9, 2023, Kuala Lumpur High Court Judge Datuk Azhar Abdul Hamid convicted Syed Saddiq on all four charges and handed down the sentence. Following the conviction, Syed Saddiq filed an appeal with the Court of Appeal, citing 18 grounds in his petition, seeking to have the convictions overturned and the sentence quashed. According to the first charge, Syed Saddiq is accused of abetting Bersatu's youth wing Armada assistant treasurer, Rafiq Hakim Razali, who was entrusted with RM1 million in funds, in committing criminal breach of trust by misusing the money. This offence allegedly took place at CIMB Bank Berhad, Menara CIMB KL Sentral, Jalan Sentral 2, on March 6, 2020. It falls under Section 406 of the Penal Code, which carries a maximum penalty of ten years' imprisonment, whipping, and a fine upon conviction. In the second charge, he is accused of misappropriating RM120,000 for personal use from a Maybank Islamic Berhad account belonging to Armada Bumi Bersatu Enterprise by instructing Rafiq to dispose of the funds. This offence is alleged to have occurred at Malayan Banking Berhad, Taman Pandan Jaya, between April 8 and 21, 2018. It is charged under Section 403 of the Penal Code, which carries a maximum punishment of five years in prison, whipping, and a fine. He also faces two charges of involvement in money laundering. He is accused of transferring RM50,000 on two occasions from his personal Maybank Islamic Berhad account into his Amanah Saham Bumiputera account, with the funds allegedly being proceeds of unlawful activity. These transactions reportedly took place at a bank in Jalan Persisiran Perling, Taman Perling, Johor Bahru, on June 16 and 19, 2018. The charges are filed under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, and punishable under Section 4(1) of the same Act. More Like This
New Straits Times
13-06-2025
- Business
- New Straits Times
'Lucky number' incense helps Johor man win RM10.38mil Toto jackpot
KUALA LUMPUR: Combining his identity card number with that obtained from a lucky number incense helped a Johor banker win the RM10.38 million Toto 4D Jackpot last Sunday. The 49-year-old said he had gone to a temple to make offerings on Wesak Day. He said that at the same time, he also bought a lucky number incense, which when burnt would display several "lucky numbers" "So I bet on the lucky numbers, combined with my identity card numbers, to form the pair of winning numbers – '3866 and 5899'. "I bet on the same pair of numbers for six draws and they actually helped me to win the jackpot," he said. Despite becoming a multi-millionaire, he said he would continue to work. However, he said he planned to spend his winnings on travelling the world with his wife. The May 31 draw saw 110 winners from Kuala Lumpur, Selangor and Sarawak share RM28,069,403 in winnings from the total RM34,511,559 Toto 4D Jackpot 1 with i-System tickets.
