Latest news with #KualaLumpur
Malay Mail
43 minutes ago
- Business
- Malay Mail
Malaysia backs youth-led ventures as Asean chair, touts digital treaty and NIMP 2030 as key enablers
KUALA LUMPUR, June 28 — The Ministry of Investment, Trade and Industry (MITI) is actively creating more space for young entrepreneurs to thrive, in line with Malaysia's role as Asean chair, said Minister Tengku Datuk Seri Zafrul Abdul Aziz. He said that through initiatives such as the Asean SME Academy and the Digital Economy Framework Agreement (DEFA), the ministry is breaking down barriers so that these entrepreneurs can start, scale, and connect their ventures beyond borders. 'DEFA, the world's first regional digital economy treaty, is projected to grow Asean's digital economy to over US$2 trillion by 2030 and generate millions of jobs. These are not just statistics; they are doorways to your future,' he said in his closing keynote address at the Nusantara Youth Forum 2025 held in Putrajaya today. Tengku Zafrul said that as Malaysia opens doors for young entrepreneurs and innovators, it is important to mention how Malaysia's own long-term strategies align with these regional ambitions. 'Through the New Industrial Master Plan 2030 (NIMP 2030), Malaysia is transforming our industrial landscape by focusing on high value-added sectors, advanced manufacturing, and future-oriented skills. 'NIMP's core mission is to create quality jobs and ensure our industries – especially in electrical and electronics (and) green tech – remain globally competitive, resilient, and sustainable,' he said. According to the minister, national frameworks such as NIMP are not just about Malaysia's progress. 'They also complement Asean initiatives like DEFA and the Asean SME Academy, creating a seamless ecosystem that supports youth, from upskilling and financing to market access, so you can truly take your ideas from the region to the world,' he said. Tengku Zafrul also gave recognition to arts and culture, saying that too often, the creative sector is wrongly treated as secondary to the 'main economy.' 'The truth is, culture and creativity are economic engines, identity builders and bridges between nations,' he said, adding that Asean's creative industries, from music to film, are gaining global attention. The MITI Minister said he cannot overstate the importance of entrepreneurship in driving both economic progress and social transformation. 'Today, the most exciting businesses in Malaysia, and indeed throughout Asean, are being founded, led, and grown by youths. 'Whether you are developing tech solutions, running sustainable farms, designing innovative products, or launching platforms for social impact, you show the world what is possible when ambition is united with purpose,' he added. — Bernama
Malay Mail
an hour ago
- Business
- Malay Mail
MACC tracks Daim-linked assets in US, Singapore, Japan, Italy and Jersey
KUALA LUMPUR, June 28 — The Malaysian Anti-Corruption Commission (MACC) has expanded its investigation into high-value assets linked to the late Tun Daim Zainuddin and his family to five more countries. This follows earlier action in the United Kingdom and Malaysia involving several high-profile assets tied to the former finance minister and his proxies, New Straits Times reported this evening. Citing unnamed sources, the newspaper listed the five countries as the United States, Singapore, Japan, Italy and the Crown Dependency of Jersey, an island in the English Channel off the coast of Normandy, France. The assets in question were allegedly not declared to the MACC during its investigation. 'Other nations where assets are allegedly being held will also face similar action,' one unnamed source was quoted as saying. The MACC began probing Daim's financial affairs as part of a wider investigation into unexplained wealth and asset declarations involving politically exposed persons.
Malay Mail
2 hours ago
- Health
- Malay Mail
From threatened waters to dinner tables: Study shows six endangered species sold as fish maw in Malaysia and Singapore shops
KUALA LUMPUR, June 28 — DNA from six critically endangered and endangered fish species has been found in fish maw products sold in stores across Malaysia and Singapore, according to a new study released last week. Researchers identified DNA from the European eel and large yellow croaker — both listed as critically endangered by the International Union for Conservation of Nature (IUCN) — in samples taken from shops in both countries, The Straits Times reported today. Eleven of those samples came from the European eel, despite the European Union banning its export in 2010. 'It's not that surprising that eel maw has been sold, because you can find the eels here,' National University of Singapore (NUS) Assistant Professor Benjamin Wainwright, one of the study's authors, was quoted as saying. 'But it's interesting that the European eel is still making it here, because that should have been banned a long time ago.' The most commonly identified species was the blackspotted croaker (Protonibea diacanthus), which accounted for 58 of the 480 samples tested. The blackspotted croaker is listed as near threatened on the IUCN Red List – meaning it is at risk of becoming endangered in the near future. Four other endangered species in the fish maw samples were listed as: the cassava croaker, American eel, fourfinger threadfin, and iridescent shark. The findings were published on June 24 in the journal Conservation Letters by Wainwright and Seah Ying Giat of Universiti Malaysia Terengganu (UMT). Fish maw is made from the dried swim bladder of fish. It is considered a delicacy as well as a social status symbol for the rich that is believed to offer health benefits that is widely consumed across South-east Asia and East Asia. Between October and December 2023, the NUS-UMT researchers collected fish maw samples from Malaysian shops, followed by stores in Singapore from January to April 2024. A total of 39 different fish species were identified after the DNA extraction from 118 samples in Malaysia and 362 in Singapore. According to Wainwright, identifying species by sight is nearly impossible as the fish maw has been heavily processed. 'Fish maw has been processed, flattened, cleaned and washed. 'You can't determine what species the maw comes from without using genetic methods – so we have no idea of what species are involved in this trade in South-east Asia,' he was quoted as saying. Fresh fish maw is also served at some restaurants in Malaysia. — Picture by Ethan Lau He added that trade regulations are further complicated by broad commodity classifications. 'Commodity codes are meant to say, this is shark fin, this is shrimp, this is fish maw – but at the moment, all these products are lumped together and imported as dried fish goods.' Chester Gan, marine lead at Singapore's World Wide Fund for Nature urged consumers and companies to consider sustainability. 'Given that fish maw may originate from fisheries with little data, endangered species, or unsustainable fishing practices that harm vulnerable marine life, we urge both consumers and businesses to consider more sustainable alternatives,' he told The Straits Times. Gan also called on businesses to review their supply chains to ensure responsible sourcing. Wainwright said the best approach was to avoid fish maw altogether if the species, country of origin or sustainability could not be verified. 'The hope is, as more people become aware of the damage caused by unsustainable fishing, they may turn away from products of unknown origin and towards seafood from sustainable fisheries. 'Otherwise, when a species targeted for fish maw gets fished out, it's very likely we'll turn to another species and fish that one out, and then do the same for the next ones,' he added.
Malay Mail
3 hours ago
- Business
- Malay Mail
Analyst: Asean integration fuels push for independent regional financial system
KUALA LUMPUR, June 28 — Greater economic integration among the members of the Association of Southeast Asian Nations (Asean) is accelerating efforts to build an independent and resilient regional financial system, aimed at reducing reliance on external currencies and enhancing monetary stability across Southeast Asia, according to a Malaysian analyst. These moves are not meant to target any specific country but rather reflect a desire to move away from external financial volatility and facilitate transactions using local currencies for intra-Asean trade, which will enable seamless cross-border transactions, provide greater market access for micro, small and medium enterprises (MSMEs), as well as boost regional tourism, Lee Pei May, a political expert at the International Islamic University Malaysia, said in an interview with Xinhua. 'The push for the use of local currencies has been ongoing for some time, as it helps strengthen the economic integration of Asean member states—an important goal that Asean seeks to pursue. In fact, other regions are also moving away from relying too heavily on a single foreign currency, such as the US dollar, as external interest rates and shifting government policies may cause significant volatility in currency exchange,' she explained, adding that volatility is undesirable in any business. 'Apart from the benefits of easier and faster transactions between businesses and banks of Asean countries through the use of local currencies, cross-border payments in local currencies can also help to avoid volatility from outside the area,' she said. Lee also said that allowing cross-border settlements in local currencies would be faster and cheaper, and singled out the tourism sector as a big winner, as tourists in the region will not need to go through the hassle of changing physical money when visiting other Asean states. 'The Regional Payment Connectivity (RPC) initiative was first established to strengthen payment connectivity among the five Asean members, notably Malaysia, Thailand, Singapore, Indonesia and the Philippines. To date, the initiative has expanded to include central banks of Vietnam, Laos, Brunei and Cambodia,' she said. 'The participation would bring about seamless cross-border transactions and boost tourism in the region. Under the local currency settlement framework, many national payment systems have been linked, such as between Malaysia and Indonesia,' Lee stated. She also noted that the Asean push for local currencies and reduced dependency on external monetary systems has gained momentum amid growing awareness of the risks posed by relying on the US dollar. 'In the past, certain currencies were viewed as stable, but due to increasingly unpredictable global developments, this perception is shifting,' Lee said, adding that if economic tools were to be used to exert pressure on policy differences, it could have negative implications. 'Such risks, even if unlikely, remind us why building regional financial resilience is critical.' — Bernama-Xinhua
Malay Mail
4 hours ago
- Politics
- Malay Mail
Umno supreme council may address Hishammuddin's suspension on Monday, says Ahmad Maslan
KUALA LUMPUR, June 28 — The suspension of Datuk Seri Hishammuddin Hussein is set to be discussed at the Umno supreme council meeting on Monday. According to Berita Harian, Umno supreme council member Datuk Seri Ahmad Maslan said the meeting will be held in the evening, and if Johor Umno chairman Datuk Onn Hafiz Ghazi raises the issue, it will be addressed. 'I'm not stating whether I support or oppose it, but this issue must follow the established procedures. 'The original suspension decision was made by the supreme council, so any further decisions will also be taken during the meeting. 'We'll wait until Monday,' he said during a press conference in Bachok today. Earlier reports indicated that the Sembrong Umno Division had proposed reinstating Hishammuddin's membership to strengthen the party ahead of the upcoming general election. Hishammuddin's Umno membership was suspended for six years, or two supreme council election terms, starting January 27, 2023.
