Latest news with #JKM
Observer
4 hours ago
- Business
- Observer
OQ Trading expands LNG supply role in Bangladesh
MUSCAT: OQ Trading International, the energy trading arm of Oman's OQ Group, has strengthened its position in Bangladesh's energy market with the signing of the country's first-ever short-term liquefied natural gas (LNG) supply agreement. The landmark deal marks a strategic shift in Bangladesh's LNG sourcing approach, aimed at ensuring greater energy security and reducing exposure to the volatile spot market. According to Rupantarita Prakritik Gas Company Ltd (RPGCL), the agreement represents a critical step in enhancing supply stability during peak demand periods. RPGCL, a fully owned subsidiary of Petrobangla and the government's LNG importing agency, is the official partner of OQ Trading in Bangladesh. The newly signed Sales and Purchase Agreement (SPA) allows Bangladesh to import one LNG cargo per month from August 2025 through December 2026, totalling 17 cargoes. This deal marks Bangladesh's first short-term LNG arrangement with any global supplier and complements its existing long-term contracts. Under the agreement, Bangladesh will receive five LNG cargoes in 2025 and 12 in 2026. The SPA also introduces a new pricing mechanism, shifting from the traditional Brent crude-linked pricing model to one based on the Japan Korea Marker (JKM), which is widely used for LNG deliveries to Northeast Asia. The country will pay a premium of 15 cents per MMBtu above the JKM benchmark, offering an alternative structure to previous negotiations where suppliers demanded up to 17 per cent of Brent plus fixed charges. OQ Trading has long been a key LNG supplier to Bangladesh. Its first long-term agreement, signed in 2018, remains in effect through 2029, providing up to 1.5 million tonnes of LNG per year. A second long-term contract, signed in 2023, will run from 2026 to 2035. Under this contract, Bangladesh is set to import 250,000 tonnes of LNG in 2026, 1 million tonnes in both 2027 and 2028 and 1.5 million tonnes annually from 2029 onwards. As of June 2025, Bangladesh has imported 124 LNG cargoes from OQ Trading, totalling around 7.74 million tonnes. The latest short-term deal is designed to reduce Bangladesh's dependency on high-priced spot cargoes, which are frequently used to meet surges in demand — especially in summer and during Ramadhan. Spot market offers often come with hefty premiums due to long validity periods and perceived payment risks, with mark-ups sometimes exceeding $1.50 per MMBtu over JKM. This strip contract with OQ Trading provides Bangladesh with a fixed premium pricing structure and shields the supplier from market risks associated with fluctuating prices and tender uncertainties. It also offers much-needed breathing room ahead of increased deliveries under future long-term supply deals. Bangladesh is projected to import around 52 spot cargoes in 2025 — the highest volume for any single year. The agreement with OQ Trading is expected to ease that pressure by securing a portion of supply under predictable pricing terms.
The Sun
14 hours ago
- Business
- The Sun
Melaka sets RM1,279 PGK threshold for JKM aid applications
MELAKA: A Poverty Line Income (PGK) threshold of RM1,279 has been set as a key criterion for individuals applying for Social Welfare Department (JKM) assistance in Melaka. State Women, Family and Community Development Committee chairman Datuk Kalsom Nordin confirmed the figure during the State Legislative Assembly session. The rate, determined by the Economic Planning Unit (EPU) under the Ministry of Economy, is based on the Household Income, Expenditure and Basic Amenities Survey conducted by the Department of Statistics Malaysia (DOSM). 'The PGK for Melaka is set at RM1,279, while the federal rate is RM1,198 for the entire household, (based on data) released by the EPU in 2022,' Kalsom said in response to a query from Datuk Zaidi Attan (BN–Serkam). Four assistance schemes are available under the PGK framework: Child Assistance, Senior Citizen Assistance, General State Assistance, and Disabled Persons Assistance. Applicants exceeding the PGK threshold may still qualify for other schemes, including the Disabled Workers Allowance (income limit RM1,700), Chronic Patient and Disabled Persons Care Assistance (RM5,000 and below), Bantuan Anak Pelihara, and the Apprentice Training Allowance—both without income restrictions. Additional subsidies include the Autistic Children's Learning Fee Subsidy (per capita income RM4,000 and below) and Childcare Fee Subsidy (per capita income RM800 and below). As of June 2025, JKM has disbursed RM79.8 million to 29,247 recipients across various aid programmes. – Bernama
The Sun
17 hours ago
- Politics
- The Sun
JKM detains 987 destitute in 5 months; highest in KL since 2021
KUALA LUMPUR: The Social Welfare Department (JKM) has 'detained' 987 individuals categorized as 'orang-orang Papa' (destitute persons) as of May 2025, operating under the provisions of the Destitute Persons Act 1977. The figure was revealed by Women, Family and Community Minister Datuk Seri Nancy Shukri during today's Dewan Rakyat sitting. Nancy clarified that the term 'detained' is the legal terminology used in the Act. 'These actions are carried out by JKM on an ad-hoc basis, often triggered by public complaints, or through planned joint operations with other agencies,' she said. Providing a historical context, Nancy stated that a total of 1,987 destitute individuals were recorded in 2024; 2,080 in 2023; 1,280 in 2022; and 1,528 in 2021. Since 2021, Kuala Lumpur has recorded the highest cumulative number of detentions with 1,742 cases, followed by Penang (1,288) and Johor (1,199). Breaking down the numbers by age, 515 individuals were under 18, 5,068 were between 18 and 59 years old, and 2,018 were aged 60 and above. The ages of the remaining individuals were not confirmed. The Destitute Persons Act grants welfare officers the authority to detain individuals for up to 24 hours before they are presented to a Magistrate's Court. Operations are conducted either solely by JKM or in collaboration with other enforcement agencies, including the Health Ministry, Immigration Department, National Anti-Drugs Agency (AADK), and various local authorities. Responding to a query from Tampin MP Mohd Isam Mohd Isa, Nancy confirmed that the ministry has completed a comprehensive review of the 1977 Act. She indicated that several provisions were found to be outdated and will be replaced by a more practical legislative framework that specifically targets homelessness, begging, and urban poverty. 'We are working towards drafting a new Bill to address these issues in a more structured and targeted manner,' she stated. In response to a follow-up question from Tumpat MP Datuk Hajah Mumtaz Md Nawi (PN-PAS), Nancy revealed that many of those detained suffer from mental health issues or drug dependency. These individuals are referred to the Health Ministry for temporary care before being returned to JKM custody. 'For this case, the list is quite long. If we break it down by state and by category, the data becomes very detailed. So, if possible, I would prefer to provide it in written form, as the statistics are too extensive to present here,' she added.
Barnama
17 hours ago
- Health
- Barnama
7,862 Homeless Individuals Taken In Since 2021
KUALA LUMPUR, July 23 (Bernama) -- A total of 7,862 homeless individuals have been taken in by the Social Welfare Department (JKM) from 2021 until May this year, said Women, Family and Community Development Minister Datuk Seri Nancy Shukri. The yearly breakdown is as follows: 1,528 people in 2021, 1,280 in 2022, 2,080 in 2023, 1,987 in 2024, and 987 up to May this year. Kuala Lumpur recorded the highest number with 1,742 cases, followed by Penang (1,288) and Johor (1,199). 'In terms of age, 515 were under 18, while 5,068 were aged between 18 and 59, and 2,018 were 60 and above. The ages of some individuals could not be confirmed,' she said during question-and-answer session in the Dewan Rakyat today. She was responding to Datuk Mohd Isam Mohd Isa (BN-Tampin), who asked for updated homelessness data by state and age group, as well as the government's plans to address the issue, especially in major cities. Nancy said the JKM acts on public complaints and also carries out regular and joint operations with agencies such as the Ministry of Health, Immigration Department, National Anti-Drugs Agency (AADK), and local authorities (PBT). In response to a supplementary question on the 2022 review of the Destitute Persons Act 1977, she said the government had identified outdated provisions and found that a more practical and suitable approach is needed. 'The ministry is working on comprehensive strategies to tackle homelessness. These efforts include enforcement against beggars and the homeless to ensure initiatives are well-coordinated and focused on helping them rebuild their lives,' she said. -- BERNAMA
The Sun
17 hours ago
- Business
- The Sun
Malaysia increases aid for 2025 to ease cost of living pressures
KUALA LUMPUR: The increase in the allocation for various forms of financial assistance for 2025 proves the commitment of the MADANI Government in its efforts to reduce the cost of living pressures faced by the people, while also driving sustainable and resilient economic growth. Deputy Finance Minister Lim Hui Ying said among the key initiatives was the increase in the allocation for the Sumbangan TunaI Rahmah (STR) and Sumbangan Asas Rahmah (SARA) to RM13 billion this year, compared to RM10 billion, which benefits almost nine million recipients or 60 per cent of the adult population. 'The maximum rate for households in 2025 has also been increased to RM4,600, an increase of almost 25 per cent compared to RM3,700 in 2024. 'The government has also raised the allocation for assistance under the Department of Social Welfare (JKM) to RM2.9 billion for 2025 compared to RM2.4 billion previously,' she said in reply to a question by Opposition Leader Datuk Seri Hamzah Zainudin during question and answer session at Dewan Rakyat today. Hamzah raised a question regarding the government's strategy to reduce the burden of the people's cost of living, following the country's total debt which has now reached RM1.5 trillion. Lim said other assistance included the Elderly Assistance being increased to RM600 per month compared to RM500, an increase in the Child Assistance for Poor Families to RM250 (six years and below) and RM200 (seven to 18 years), subject to a maximum rate of RM1,000 per family. Also increased is the General Assistance in the Federal Territories to RM150 per month compared to RM100, with a maximum rate of RM500 per family. 'The government has also allocated RM1 billion for various initiatives to address the cost of living comprehensively, including price control of basic goods such as rice and cooking oil. 'Of that amount, RM300 million is allocated specifically for the RAHMAH Umbrella Programme, including the expansion of RAHMAH Sales to all state constituencies to offer basic goods at affordable prices,' he said. She said the remaining RM700 million was used to expand the implementation of other cost of living reduction programmes targeting the B40 and M40 groups. In addition, Lim said the government would also continue the Early Schooling Aid (BAP) as a strategic effort to help parents provide for their children's educational needs, in addition to the MADANI Subsidy Assistance (BUDI MADANI) as a subsidy to the public transport sector, farmers, breeders, smallholders and individual diesel vehicle owners. 'The government is also implementing the My50 Monthly Pass which benefits public transport users in the Klang Valley, especially from the B40 and M40 groups,' she said. She said increasing the people's income was also given focus through the increase in civil servant salaries and the minimum wage which was increased from RM1,500 to RM1,700. 'These measures are important to ensure that the country's economy continues to grow towards realising the objectives under the MADANI Economy framework,' she said. - Bernama
