Latest news with #AzalinaOthman
New Straits Times
23-06-2025
- Business
- New Straits Times
Insolvency Department aims to release 200,000 from bankruptcy by end of 2025
SHAH ALAM: The Insolvency Department aims to release 200,000 individuals from bankruptcy by year-end, Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said. She said so far, 186,000 individuals had been discharged, allowing them a fresh start in life. "Last year, we discharged 180,000 individuals. So far, the number discharged is 186,000. We hope to reach a total of 200,000 by the end of the year. "We are trying to expedite this process as it is a directive from the prime minister under the Second Chance Policy," she told reporters after the launch of the Financial Literacy Programme at Public and Private Higher Learning Institutions, held at Universiti Teknologi Mara. Under the policy, it aims to discharge bankruptcy for young individuals aged 40 and below with debts not exceeding RM200,000. Last year, Prime Minister Datuk Seri Anwar Ibrahim stated that people fell into bankruptcy due to various factors, including recklessness, business mistakes, a slow economy, and the Covid-19 pandemic. Meanwhile, Azalina said that from 2021 to May this year, a total of 25,578 individuals were declared bankrupt. Of the total, 70 were individuals aged below 25 years old; 25 to 34 year-old (3,725 individuals); 35 to 44 year-old (10,145 individuals); 45 to 54 year-old (7,256 individuals); 55 years old and above (4,222 individuals), and 160 individuals had no information recorded. Over the same period, men recorded the highest number of bankruptcies with 18,590 individuals, while women at 6,903 individuals and 85 individuals had no information recorded. Earlier in her speech, Azalina said the Madani government continuously strives to enhance the level of financial literacy among Malaysians to build financial resilience and ensure the wellbeing of the people in the future. "This is in line with the principle of ensuring human wellbeing under the strategic pillars of Malaysia Madani. "Therefore, this literacy programme that we are holding today is one of the proactive steps taken by the government to bring laws and knowledge related to financial management and literacy to the people, especially students in institutions of higher learning who are about to enter the workforce and the real world. "Strong financial literacy is crucial to prevent today's youth from falling into serious debt." Azalina added that, according to the records from the department, the majority of current bankruptcy cases involve young people. "We are concerned that if the younger generation, who are the future of the nation, face serious debt issues and eventually fall into bankruptcy, it will be detrimental to the country." Present at the event were the Insolvency Department deputy director Azwarnida Affandi and Universiti Teknologi Mara vice-chancellor Professor Datuk Dr Shahrin Sahib. Ends
Malay Mail
18-06-2025
- Business
- Malay Mail
Gobind: Naio to submit AI law proposals by end-June, Cabinet brief to follow
SEPANG, June 18 — The National AI Office (Naio) will submit its proposals on artificial intelligence (AI) laws to the Digital Ministry by the end of this month. Digital Minister Gobind Singh Deo said Naio has been tasked with submitting its recommendations on AI legislation to help develop a comprehensive governance framework. 'The Ministry of Digital has commenced the process by holding dialogues with the right now, we are engaging and interacting with all the relevant ministries and agencies. 'Once I get the suggestions from the Naio, we will put up a paper to the Cabinet. We will seek its guidance as to what to do next. If that paper is passed and accepted by the Cabinet, we will have to start work on the bill itself,' he told reporters after launching the RAI Portal here today. Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said yesterday stated that Malaysia is studying to develop AI legislation to address legal complexities in the digital age. She said she has written to Gobind to propose a meeting between the Legal Affairs Division (BHEUU) and the Digital Ministry to initiate a discussion on drafting new AI laws. According to Azalina, Malaysia has no specific laws focused on AI because, unlike traditional technologies, AI operates on an entirely different platform. — Bernama
Malay Mail
18-06-2025
- Business
- Malay Mail
Gobind: Naio to submit draft law proposals by end-June, Cabinet brief to follow
SEPANG, June 18 — The National AI Office (Naio) will submit its proposals on artificial intelligence (AI) laws to the Digital Ministry by the end of this month. Digital Minister Gobind Singh Deo said Naio has been tasked with submitting its recommendations on AI legislation to help develop a comprehensive governance framework. 'The Ministry of Digital has commenced the process by holding dialogues with the right now, we are engaging and interacting with all the relevant ministries and agencies. 'Once I get the suggestions from the Naio, we will put up a paper to the Cabinet. We will seek its guidance as to what to do next. If that paper is passed and accepted by the Cabinet, we will have to start work on the bill itself,' he told reporters after launching the RAI Portal here today. Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said yesterday stated that Malaysia is studying to develop AI legislation to address legal complexities in the digital age. She said she has written to Gobind to propose a meeting between the Legal Affairs Division (BHEUU) and the Digital Ministry to initiate a discussion on drafting new AI laws. According to Azalina, Malaysia has no specific laws focused on AI because, unlike traditional technologies, AI operates on an entirely different platform. — Bernama
Malay Mail
29-05-2025
- Business
- Malay Mail
Retirement at 65, a modern saga
MAY 29 — Joseph Schwartz, 62, time-travelled to a distant-future Earth which killed those who turned 60 in the sci-fi book Pebble in the Sky by Isaac Asimov which was published in 1950. Someone born that year would be 75 in 2025. I was reminded of Schwartz following the announcement Malaysia reconsiders the retirement age. In 2012 we moved it to 60, and now the minister wants 65 to be considered. Law Minister Azalina Othman Said a substantial number of older Malaysians are 'young and active.' The minister turns 62 in December. The prime minister said her idea deserved study. Cannot imagine him saying the idea was an attack on our values and has no merit. Anwar Ibrahim turns 78 in August. Like clockwork, Human Resources Minister Steven Sim said that prized study was underway. Sim just turned 43, which is also the age the prime minister was when he first entered Parliament. In an agrarian dominated world before the twentieth century, folks had children as and when biology permitted them. High child mortality was common, and infanticides unfortunately occurred. The rapid development of the last 150 years brought us prosperity and fun things like smartphones. It also wreaked havoc on the traditional family and standard demography. Ageing societies are synonymous with developed economies. Modern medicine extends life expectancies which compounds the ageing society phenomenon. The retirement age, whether the mandatory rule for civil servants and the upper limit for the private sector, has huge ramifications for the country. More so in a country with substantive state support for citizens — state income handouts (sumbangan asas SARA), subsidised fuel, household gas cylinders and public housing, among others — at a time of shrinking oil revenues. Those in employment for decades and those about to be in employment age, both have it hover over them. There are a fair number of years likely between retirement and death, and with negligible EPF savings for the majority with uncertainties over full medical coverage, working on for more years is not optional for millions of Malaysians. The drop in civil service recruitment, rise in graduates and cost of living, and uncertainties in a time of Internet, automation, AI and unaffordable housing, the continued presence of seniors beyond their normal exit points, discomforts younger Malaysians. When people are likely to retire is a huge existential threat to most Malaysians. To pass it over to a study and not a public discourse is quite damning. Even if most Malaysians care about it but are disengaged. This is where political leadership is expected from those who posit themselves as leaders. Malaysia has another factor which punches up the issue like steroids. It holds an expansive migrant population, from Rohingyas to Filipinos, Langkawi to Semporna. They inject themselves into the employment market. The total number of people of working age (citizens and migrant workers) goes up or down with the retirement age. Fountain of youthful objections The Malaysian Youth Council opposes change. Unsurprisingly. The effect on fresh recruitment is highlighted, like by the Sabah teacher's union. The argument is valid. However, the absence of countervailing arguments jars. Many countries of late have increased retirement ages, including Singapore, Thailand, Japan and China. Corrections to retirement ages for the reasons outlined in this column are rife all over the world. And of course, younger people elsewhere are not pleased and the self-righteous spout condescension on how the aged should hug grandkids till they instinctively know the choker hold. Tap out, tap out. There are no shockers delivered today but a sense of aghast that the government is incapable of organising broad consultation beyond asking the Malaysian Employers Federation and trade unions. Many countries of late have increased retirement ages, including Singapore, Thailand, Japan and China. — Freepik pic For example, if Malaysia charts a path to remove reliance on foreign labour, role-replacements are necessary. Up automation and hire Malaysian supervisors with multiple roles, therefore justifying higher wages, is one of many paths to change, in order to accommodate more Malaysians in the employment market while systematically reducing foreign labour. Malaysians have to be alerted that whether the needle is moved or not on retirement age, the burdens on those in the employment market only gets heavier. As the ratio of workers: retirees rises meaning there'd be fewer workers on average to pay for the benefits accrued by the retired — and those below working age — either taxes go up or national debt goes up. Keeping more of the senior high earners — euphemism, taxed more — longer inside the job market also maintains a wider tax pool. It is the new puzzle for societies in which all members of those societies pay the price of missteps. The first generation of knowledge workers from the 1990s approach steadily the retirement zone. It's inconclusive whether a liberal attitude toward retirement ages repays or not. Also, in play the increasing wealth disparity between the rich and poor. Since all of us are affected then all of us should be involved. To leave these decisions to committees appears crude and arcane. Isaac Asimov was 30 when Pebble in the Sky was published. The biochemistry doctoral student was on his way to becoming a professor after a non-combat stint in the US navy. A young man considering the societal effects of artificially age-capped mortality. The protagonist Schwartz despite his age possessed mental abilities to save the galaxy from a virus. The old guy saves hundreds of planets. It's fiction though. But young and old Malaysians need to discuss retirement age, which is not in the fictional realm. It is real and directly affects Malaysians, and the government should facilitate a broader nationwide discussion about it. There's the general election in around two years, and perhaps an excellent opportunity to referendum it. Ask the people directly. How old is old?
Malaysiakini
22-04-2025
- Politics
- Malaysiakini
Govt forms protem committee to draft Freedom of Information Bill
Minister in the Prime Minister's Department (Law and Institutional Reform) Azalina Othman has established a protem committee for the drafting of the Freedom of Information Bill to enhance democratic governance and transparency. Among its primary objectives are drafting a comprehensive legal framework to ensure transparency, accountability, and the public's right to information in accordance with the Federal Constitution, democratic principles, and international best practices.
