Latest news with #GovernmentofMalaysia
The Sun
08-07-2025
- Business
- The Sun
Malaysia reaffirms fair trade commitment amid new US tariffs
KUALA LUMPUR: The Ministry of Investment, Trade and Industry (MITI) has reaffirmed Malaysia's commitment to fair trade negotiations with the United States following Washington's decision to impose a 25% tariff on Malaysian exports starting August 2025. The ministry emphasised the importance of constructive dialogue to resolve trade imbalances while safeguarding bilateral economic interests. MITI stated that Malaysia values its longstanding trade partnership with the US, its second-largest trading partner and top export destination. Total trade between the two nations surged nearly 30% in 2024, reaching RM324.9 billion (US$71.4 billion). Exports to the US accounted for RM198.7 billion (US$43.7 billion), while imports stood at RM126.3 billion (US$27.7 billion). 'The Government of Malaysia takes note of the recent announcement by the US Government regarding the imposition of a reciprocal tariff rate of 25 per cent on Malaysian exports to the US, effective Aug 1, 2025,' MITI said in a statement. The ministry pledged to engage US counterparts to clarify the tariffs' scope and mitigate their impact on local businesses and workers. - Bernama Malaysia remains optimistic about reaching a mutually beneficial agreement. 'We believe constructive engagement and dialogue remain the best path forward,' MITI added. The ministry assured stakeholders that it would take necessary steps to protect Malaysia's trade interests while promoting sustainable economic growth.
Borneo Post
08-07-2025
- Business
- Borneo Post
Miti reaffirms commitment to fair trade amid new US tariffs
Miti says Malaysia values its longstanding economic and trade relationship with the US and recognises the important role of open and fair trade in supporting jobs and economic growth in both countries. KUALA LUMPUR (July 8): Malaysia is committed to continued engagement with the United States (US) towards a balanced, mutually beneficial, and comprehensive trade agreement, said the Ministry of Investment, Trade and Industry (Miti). The ministry highlighted that Malaysia values its longstanding economic and trade relationship with the US and recognises the important role of open and fair trade in supporting jobs and economic growth in both countries. 'The Government of Malaysia takes note of the recent announcement by the US Government regarding the imposition of a reciprocal tariff rate of 25 per cent on Malaysian exports to the US, effective Aug 1, 2025. 'Miti will continue discussions with its US counterparts in good faith to address outstanding issues, clarify the scope and impact of the announced tariffs, and pursue avenues for the timely conclusion of our negotiations,' it said in a statement today. According to Miti, these efforts are ongoing and reflect Malaysia's commitment to reaching a fair and sustainable outcome for both parties. 'While we acknowledge the concerns raised by the US regarding trade imbalances and market access, we believe constructive engagement and dialogue remain the best path forward. 'Malaysia strongly believes that, together, we can find mutually acceptable solutions that safeguard the interests of both countries and peoples, while ensuring that bilateral trade and investment continue to be a positive force for sustainable economic development,' it added. The ministry also stressed that the government remains committed to protecting the interests of Malaysian businesses, workers, and consumers and will take all necessary steps to mitigate the impact of these new measures. The US is Malaysia's second largest trading partner and largest export destination, with total trade in 2024 rising nearly 30 per cent to RM324.9 billion (US$71.4 billion). Exports to the US reached RM198.7 billion (US$43.7 billion), while imports rose to RM126.3 billion (US$27.7 billion). economy lead Miti tariff trade us
Sinar Daily
24-06-2025
- Business
- Sinar Daily
Government succeeds in overturning order to transfer Duta enclave land title to Semantan Estate
Justice Lee, held that the 2009 High Court decision, did not order the Government of Malaysia to transfer the subject land back to Semantan Estate. 24 Jun 2025 03:20pm Justice Lee, who delivered the court's unanimous decision, however, ruled that Semantan Estate is entitled to adequate compensation, to be assessed based on the land value in 1956, the time the government took possession of the land. - Bernama file photo PUTRAJAYA - The Federal Territory of Kuala Lumpur Land Registrar succeeded in its appeal to overturn the High Court's ruling that had ordered it to transfer the title of the 263.272-acre "Duta enclave' land in Kuala Lumpur back to Semantan Estate (1952) Sdn Bhd. A three-member bench consisting Federal Court judge Datuk Lee Swee Seng and Court of Appeal judges Datuk Azimah Omar and Datuk Wan Ahmad Farid Wan Salleh had allowed the Federal Territory of Kuala Lumpur Land Registrar's appeal to set aside the High Court's decision. Justice Lee, held that the 2009 High Court decision, did not order the Government of Malaysia to transfer the subject land back to Semantan Estate. "As such, there was no order to execute. In the absence of an order for the transfer of the land back to Semantan Estate, an order for declaration cannot be executed, as it is only declarative of the rights of parties. He said a declaratory order merely affirms the legal rights of parties involved and it does not carry with it the power of enforcement, such as specific performance, adding that such orders are non-executable by nature. Justice Lee, who delivered the court's unanimous decision, however, ruled that Semantan Estate is entitled to adequate compensation, to be assessed based on the land value in 1956, the time the government took possession of the land. The company, he said, is also entitled to mesne profits for the land, which will continue to accrue until the government fully settles the compensation. The amount of mesne profits, to be assessed by the High Court, shall no longer be payable once full payment of compensation has been made. He also directed parties to file their expert valuation report on the market value of the subject land as at December 3, 1956, within 90 days from today. Justice Lee said two payments made by the government - RM1.321 million on December 21, 1956, and another RM79, 241 on February 3, 1959 - would be deducted from the amount of compensation to be assessed. He also awarded interest of six per annum to the company from December 3, 1956 to the date of payment upon payment of the compensation as assessed. The disputed land, located in the prime Jalan Duta area known as the Duta Enclave, houses government buildings that include the national hockey stadium, Malaysian Institute of Integrity, national archives, Kuala Lumpur Syariah Court, the Inland Revenue Board building and the Malaysian Anti-Corruption Commission Academy. Semantan Estate's legal battle began in 2003 when it sued the government, claiming the land was unlawfully acquired. In 2009, Judicial Commissioner Zura Yahya ruled in favour of Semantan Estate that the government had unlawfully acquired the land. The government's subsequent appeals at the Court of Appeal and Federal Court were unsuccessful. In February 2017, Semantan Estate initiated a lawsuit against the Kuala Lumpur Land Registrar to enforce the 2009 High Court judgment. - BERNAMA
New Straits Times
21-06-2025
- Health
- New Straits Times
Three more Malaysian haj pilgrims die in Makkah
KUALA LUMPUR: Three more Malaysian pilgrims have died in the Holy City of Makkah, bringing the total number of deaths to date to 19. Minister in the Prime Minister's Department (Religious Affairs) Datuk Dr Mohd Na'im Mokhtar said the latest fatalities involved pilgrims from Telok Panglima Garang, Selangor; Tanah Rata, Pahang; and Butterworth, Penang. He said Abd Wahab Yahaya, 63, from Selangor, passed away at 4.50pm yesterday (June 19) at Hotel Al-Mubarak in Shisha due to a heart attack. The second and third pilgrims, who also succumbed to heart attacks, were Mohamed Jafri Yahya, 60, from Tanah Rata, who died at 7.39pm yesterday at Jiwar Hospital in Makkah, and Norizan Tarsi, 59, from Butterworth, who passed away at 6.45am today (June 20) at Abraj Al-Tayseer. "Tabung Haji has ensured that all burial arrangements were carried out in accordance with syariah law, including burial management in the Holy Land. The next of kin have been informed and guided with compassion and care. "On behalf of the Government of Malaysia and all haj agency staff, I extend my heartfelt condolences to the families of the deceased. May their souls be granted forgiveness, mercy, and placed among the righteous. Al-Fatihah," he said in a Facebook post yesterday. - BERNAMA
The Sun
21-06-2025
- Health
- The Sun
Three more Malaysian pilgrims die in Makkah, total now 19
KUALA LUMPUR: Three more Malaysian pilgrims have died in the Holy City of Makkah, bringing the total number of deaths to date to 19. Minister in the Prime Minister's Department (Religious Affairs) Datuk Dr Mohd Na'im Mokhtar said the latest fatalities involved pilgrims from Telok Panglima Garang, Selangor; Tanah Rata, Pahang; and Butterworth, Penang. He said Abd Wahab Yahaya, 63, from Selangor, passed away at 4.50 pm yesterday (June 19) at Hotel Al-Mubarak in Shisha due to a heart attack. The second and third pilgrims, who also succumbed to heart attacks, were Mohamed Jafri Yahya, 60, from Tanah Rata, who died at 7.39 pm yesterday at Jiwar Hospital in Makkah, and Norizan Tarsi, 59, from Butterworth, who passed away at 6.45 am today (June 20) at Abraj Al-Tayseer. 'Tabung Haji has ensured that all burial arrangements were carried out in accordance with syariah law, including burial management in the Holy Land. The next of kin have been informed and guided with compassion and care. 'On behalf of the Government of Malaysia and all haj agency staff, I extend my heartfelt condolences to the families of the deceased. May their souls be granted forgiveness, mercy, and placed among the righteous. Al-Fatihah,' he said in a Facebook post today.
