Latest news with #FMM
Hamilton Spectator
5 days ago
- Business
- Hamilton Spectator
Mark Carney calls emergency meeting of first ministers in Muskoka
U.S. President Donald Trump's trade war against Canada is triggering crisis talks in cottage country. Prime Minister Mark Carney is convening an emergency first ministers' meeting in Huntsville before the start of the annual premiers' confab on July 22. That surprise announcement Friday followed Trump's latest escalation of his tariff threats targeting Canada. It comes only weeks after Carney held an FMM in Saskatoon last month to discuss trade challenges and other national priorities. Ontario's Progressive Conservative Premier Doug Ford, a close ally of the recently elected Liberal prime minister, got the ball in motion for the meeting. 'In the face of President Trump's latest threat, we need to come together,' Ford said on social media. 'We need a plan on how Canada will respond and how we'll protect our workers, businesses and communities,' the premier said. 'I've asked and Prime Minister Carney has agreed to an in-person First Ministers' Meeting on Tuesday, July 22 in Huntsville ahead of the Council of the Federation meeting with Canada's premiers,' he said. 'Together, we're going to remain united as we protect Ontario and protect Canada.' Ford, chair of the premiers' council, is hosting their COF summer meeting in Muskoka. Carney and the premiers are hoping the Trump chaos will force Ottawa and the provinces to co-operate more in pushing infrastructure projects and more diversified trade. That includes ridding the country of interprovincial trade barriers. So far Ford has inked deals with every province except Quebec, British Columbia and Newfoundland and Labrador to remove internal barriers to trade. 'We are building Canada strong,' said Carney. 'The federal government, provinces and territories are making significant progress in building one Canadian economy,' added the prime minister. 'We are poised to build a series of major new projects in the national interest. We are strengthening our trading partnerships throughout the world.'
Barnama
6 days ago
- Business
- Barnama
- How Tariffs And Taxes Could Derail Malaysia's Climate Ambitions
16/07/2025 03:45 PM Opinions on topical issues from thought leaders, columnists and editors. By : Mogesh Sababathy At a time when Malaysia must accelerate its climate transition, can we afford foreign and domestic policy shocks that destabilise our climate finance and green technology agenda? The recent announcement by U.S. President Donald Trump to impose a sweeping 25% tariff on 'any and all Malaysian products' starting Aug 1, 2025, has jolted Malaysia's economy and, potentially, its entire energy transition trajectory. This move not only threatens our US$80 billion annual trade relationship with the United States, but risks undercutting the financial and industrial scaffolding needed to meet our net-zero ambitions by 2050. For a country that has pledged a 45% reduction in carbon intensity by 2030, this is not just an economic setback but also a stress test of our climate governance, resilience and readiness. The potential impact is immense. Sectors like electrical and electronics (E&E), which comprise nearly 40% of our exports, stand particularly exposed. With the Green Technology Master Plan relying heavily on E&E to drive decarbonised manufacturing, this development places our climate-linked industrial strategy in jeopardy. At the same time, Malaysia's expanded Sales and Service Tax (SST) which came into effect July 1, 2025 adds pressure from within. Over 4,800 previously exempt items, including industrial equipment and low-emission machinery, are now taxed at 8%, up from the previous 6%. While the SST expansion is projected to yield RM3 billion in additional revenue, its timing couldn't be worse. FMM warning The Federation of Malaysian Manufacturers (FMM) warns that these cascading tax burdens will inflate costs, shrink margins, and deter future investment especially in capital-intensive green infrastructure. The National Energy Transition Roadmap (NETR), launched in 2023, sets ambitious targets: increasing renewable energy in the national mix to 70% by 2050, developing CCUS (Carbon Capture, Utilisation & Storage), and attracting RM435 billion in investment. But these goals rely on a strong private sector, foreign direct investment, and investor confidence. Reduced export earnings due to tariffs, paired with higher domestic operating costs from the SST, could stall clean energy adoption, battery storage scaling, and smart grid investments. Small and medium green-tech enterprises already navigating tight financing margins may pivot to survival mode, postponing R&D or abandoning green upgrades entirely. This fiscal constriction directly threatens the creation of 23,000 green jobs forecast under NETR, and it risks reducing Malaysia's contribution to global clean energy supply chains at a time when demand is rising. On the other hand, Malaysia's Voluntary Carbon Market (VCM), launched via the Bursa Carbon Exchange (BCX) in late 2022, was one of Southeast Asia's most promising climate finance innovations. With a projected market value of US$237 million by 2030, it was expected to fund reforestation, conservation, and industrial decarbonisation projects. However, the VCM and the upcoming carbon tax and Emissions Trading Scheme (ETS) under the National Climate Change Bill (RUUPIN) are all sensitive to macroeconomic conditions. Carbon governance mechanisms Historically, economic downturns or trade disruptions often lead governments to delay carbon pricing reforms in the name of economic recovery. Malaysia is no exception. Unless insulated, our carbon governance mechanisms may stall or regress under fiscal and political pressure just when they're needed to drive long-term decarbonisation and attract green capital. Climate change disproportionately affects the poorest and most vulnerable communities in Malaysia from coastal erosion in Sabah to urban flooding in KL. But so too will economic instability. Tariff-related export losses could result in job cuts in key industrial areas, while SST inflation will raise living costs. When people are forced to choose between short-term survival and long-term sustainability, the environment always loses. Without targeted support, our vision of a 'just transition' risks becoming rhetorical. The RUUPIN framework, which emphasises equity and protection for vulnerable populations, must be backed by resilient fiscal policy and progressive social safety nets not sacrificed in budget cuts driven by external shocks. In this regard, what can Malaysia do? Firstly, Malaysia must demand clarity on the tariff scope and seek exclusions for clean technology, solar components, and environmental goods, aligning with WTO environmental exceptions. Next, allocate funds from the new SST intake to fund VCM capacity-building, CCUS pilots, and green job retraining programmes. SST exemptions or rebates for low-emission equipment, energy-efficient machinery, and carbon audit services must also be provided to incentivise clean industrial investments. Also, as the Chair of ASEAN this year, we also have an upper hand in using this moment to lead within ASEAN, pushing for regional carbon border adjustments and green mutual recognition agreements that support decarbonised exports. Lastly, fast-track funding for climate policy education, especially in carbon markets, climate law, and environmental economics, to prepare the next generation of climate experts. In conclusion, economic shocks will come and go. But the climate crisis is permanent and intensifying. As floods grow more frequent, air pollution worsens, and biodiversity collapses, the cost of inaction grows steeper each year. Trade policy and tax policy must serve, not sabotage our climate goals. Malaysia must not retreat from climate ambition in the face of tariffs or taxes. We must instead use these shocks to recalibrate our economic tools, reaffirm our global leadership in climate governance, and build a greener, more resilient Malaysia that doesn't trade short-term relief for long-term collapse. -- BERNAMA Mogesh Sababathy is a Youth Climate Advocate and a National Consultative Panel Member to the Ministry of Natural Resources and Environmental Sustainability of Malaysia. He is also a PhD candidate at Universiti Putra Malaysia (UPM). (The views expressed in this article are those of the author(s) and do not reflect the official policy or position of BERNAMA)
Hans India
11-07-2025
- Politics
- Hans India
MoS Margherita meets US Secretary of State in Malaysia
Kuala Lumpur: Union Minister of State (MoS) for External Affairs, Pabitra Margherita, on Friday met the US Secretary of State Marco Rubio on the sidelines of ASEAN-India Foreign Ministers' Meeting (FMM) in Malaysia. "Delighted to meet US Secretary of State @secrubio on the sidelines of the 15th East Asia Summit Foreign Ministers' Meeting in Kuala Lumpur, Malaysia," the Minister posted on X after the interaction. Earlier in the day, Margherita met the Deputy Prime Minister and Foreign Minister of Cambodia, Prak Sokhonn, discussing wide-ranging bilateral relations, including heritage conservation and development partnership. MoS Margherita expressed gratitude to Cambodia for its support in India's fight against terrorism. 'Delighted to have a meeting with Prak Sokhonn, Dy. PM and Foreign Minister of Cambodia on the sidelines of ASEAN-India Foreign Ministers' Meeting in Malaysia. Discussed our multifaceted bilateral relations ranging from heritage conservation to development partnership. Also discussed my recent visit to Cambodia during which I had a number of productive engagements. Thanked Cambodia for its support in India's fight against terrorism,' Margherita said in a post on X. On Thursday, Margherita held a meeting with the Secretary General of ASEAN, Kao Kim Hourn, on the margins of the ASEAN-India FMM in the Malaysian capital, Kuala Lumpur. The MoS appreciated Hourn's personal commitment as the head of the ASEAN Secretariat in facilitating the implementation of decisions of leaders towards strengthening India-ASEAN Comprehensive Strategic Partnership. Margherita held separate meetings with Bui Thanh Son, Foreign Minister of Vietnam, and Sugiono, Foreign Minister of Indonesia, on the sidelines of the ASEAN Post-Ministerial Conference with India in Kuala Lumpur. Furthermore, the MoS met the Secretary of Foreign Affairs of the Philippines, Theresa P. Lazaro, on the sidelines of ASEAN-India FMM. The leaders acknowledged the long-standing friendship and 75 years of diplomatic relationship between India and the Philippines, and discussed ways to further strengthen the bilateral cooperation. Margherita thanked the Philippines for its solidarity with India in its fight against terrorism. Earlier on Thursday, Margherita co-chaired the ASEAN-India FMM in Kuala Lumpur, during which the adoption of the new 2026-2030 ASEAN-India Plan of Action (POA) was also announced. MoS Margherita, as India's country coordinator, co-chaired the meeting with Theresa P. Lazaro, the Secretary of Foreign Affairs of the Philippines. "Adopted a new ASEAN-India Plan of Action for the year 2026-2030 with an aim to further expanding our cooperation and strengthening comprehensive strategic partnership. As we celebrate ASEAN-India Year of Tourism this year, we discussed ways and means for enhancing people-to-people relations further," Margherita said in a post on X. The MoS arrived in Kuala Lumpur on Wednesday night to participate in the ASEAN-India FMM at the invitation of the current ASEAN Chair, Malaysia.
The Star
11-07-2025
- Business
- The Star
Ex-inmates get chance to start over
On the ground: Sim (with red cap) having a light moment with prisoners who are being interviewed by company representatives during the MyFutureJobs Career and Entrepreneurship Carnival at Seberang Perai Prison complex in Jawi. — ZHAFARAN NASIB/The Star NIBONG TEBAL: A few years ago, M. Muniesvaran was sentenced to five years in prison for a drug-related offence. Now out on parole, he has been working at a fertiliser factory in Perlis for six weeks. Determined to turn over a new leaf, the 44-year-old is happy at his workplace, where he feels respected and earns enough to get by. 'I used to run a restaurant but I made a mistake and had to pay the price. I'm grateful for the chance to start over,' he said. Muniesvaran credited MyFutureJobs for helping him secure employment. 'Accommodation and food are provided, and I'm genuinely enjoying this transition. 'Looking for work on my own would have been tough because of my past. 'This opportunity let me move forward and rebuild my life,' he said when met at the MyFutureJobs Career and Entrepreneurship Carnival at the Seberang Perai prison complex yesterday. Human Resources Minister Steven Sim, who launched the programme, said that 20 employers were offering 1,080 job vacancies, while another nine public and private agencies were providing assistance and entrepreneurship programmes to job seekers. 'This is our commitment to making sure no one is left behind. 'My aspiration is simple. 'I want all workers to be treated with respect and dignity, and return home safely after work. 'This aligns with the values of the Madani government,' he said. Sim noted that from 2020 to July 9, 2025, a total of 4,105 individuals have secured employment through the initiative, including 933 between January and July 9 this year. He said the top five sectors employing former inmates are manufacturing; food and beverage services; wholesale and retail trade; vehicle repair; and agriculture, forestry and fisheries. 'Employers will receive a special incentive of RM600 per month for three months. 'This is to encourage the placement of higher-paying jobs for vulnerable groups, starting with the recruitment of new employees from Dec 1, 2024,' he said before witnessing the signing of a memorandum of understanding (MOU) between the Social Security Organisation (PERKESO) and six associations. The six associations are Federation of Malaysian Manufacturers (FMM), Federation of Malaysian Business Associations (FMBA), Malaysia Retailers Association (MRA), Malaysia Budget and Business Hotel Association (MyBHA), Federation of Motor and Credit Companies Associations of Malaysia (FMCCAM) and Balai Ikhtisas Malaysia (BIM). Sim said that FMM and FMBA have pledged to provide 4,500 job opportunities for former inmates this year. MyFutureJobs, through its 'Second Chance' initiative, actively supports ex-offenders by offering career counselling, skills-based job matching and access to various support services. Employers are encouraged to hire individuals from vulnerable groups – including ex-offenders – with financial incentives and ongoing support provided to both employers and employees. The initiative aims to boost job opportunities, skills and support for parolees, prisoners under supervision, persons released on licence and ex-convicts.
New Straits Times
10-07-2025
- Business
- New Straits Times
Over 4,000 former inmates returned to work force
NIBONG TEBAL: A total of 4,105 former inmates who completed their sentences and rehabilitation between 2020 and July 9 have rejoined the workforce, thanks to job-matching efforts by the Social Security Organisation (Perkeso). Human Resources Minister Steven Sim Chee Keong said most of them found employment in sectors such as manufacturing, construction, agriculture, food services, as well as wholesale and retail trade. He said Perkeso's initiative reflected the urgent need to utilise local manpower more inclusively and comprehensively, recognising the potential of these prospects as productive contributors to society and the economy. "This initiative is a joint effort with the Prisons Department and the Home Ministry to provide a second chance through job placements for former inmates and individuals who have previously been incarcerated. "So, in this two-day programme, around 20 employers are involved, offering over 1,000 job opportunities. About 600 prospects have registered for job interviews, and so far, 400 have been hired or placed in jobs," Sim welcomed the commitment expressed by the Federation of Malaysian Manufacturers (FMM) and the Federation of Malaysian Business Associations (FMBA), which pledged to provide 4,500 job opportunities for prospects this year. He also expressed his appreciation to the Prisons Department for its cooperation in organising 263 job fairs between 2023 and May 2025, aimed at providing a fresh start for these individuals. This marks the second large-scale edition of the carnival, following the first held at Kajang Prison last year, which involved 350 inmates from the central zone. This year, the carnival has been expanded to the northern zone, with 600 soon-to-be-released prospects participating —comprising 550 men and 50 women — from 10 prisons and correctional centres. The event involves 20 employers offering 37 types of positions, totaling over 1,000 vacancies. As part of the carnival, Perkeso also signed Memorandum of Understanding (MoU) with six major associations: FMM, FMBA, Malaysia Retailers Association (MRA), Malaysia Budget & Business Hotel Association (MyBHA), Federation of Motor & Credit Companies of Malaysia (FMCCAM) and Balai Ikthisas Malaysia (BIM). These MoUs open up more job opportunities for former inmates who have undergone rehabilitation and training programmes. The initiative is aimed at helping this group return to the workforce and rebuild their lives. He said this at the launch of the MYFutureJobs Career and Entrepreneurship Carnival held at the Seberang Prai Prison Complex in Jawi here. Also present were Prisons Commissioner General Datuk Abdul Aziz Abdul Razak, Perkeso Board chairman Datuk Seri Subahan Kamal and Perkeso Group chief executive officer Datuk Seri Dr Mohammed Azman Aziz Mohammed. One of the prospects, who was charged with drug possession, was sentenced to five years in prison and now out on parole and working at a factory in Perlis, said he is determined to turn a new leaf and grateful for the job. "I used to work in a restaurant but I made a mistake and had to pay the price for it. I am sorry for what I did and am glad to be given an opportunity to start over. "I am now on parole and work at a factory in Perlis packing fertiliser," he said when met. He added that if he had to look for work on his own,people might not take kindly to his past.
