Latest news with #RM114.56
The Sun
02-07-2025
- Business
- The Sun
Second Rantau Panjang-Sungai Golok bridge construction on track
NARATHIWAT: Construction of the second bridge connecting Rantau Panjang, Kelantan, and Sungai Golok here is progressing as planned, with the Thai authorities currently in the process of selecting a contractor to carry out the project. Sungai Golok Highway Division assistant officer Teetuch Mad-adum said the contractor selection process is expected to be completed by September at the latest, in line with the timeline agreed upon by Malaysia and Thailand. 'We are confident that a suitable contractor will be identified by September, with the initial shortlist involving 10 companies,' he told Bernama yesterday. Teetuch added that the six-lane bridge, which will be built parallel to the existing Muhibbah Bridge, is expected to have a significant impact on local economic development and further strengthen bilateral relations between Malaysia and Thailand. 'The purpose of this bridge is to widen the existing route. Once completed, it will improve the flow of economic activity and make cross-border movement much easier,' he said, adding that the completion of the bridge will also have an impact on nearby illegal jetties. He said there had been no objections from local residents regarding the project, and all studies conducted so far indicated no negative impact. 'This bridge is being built specifically to stimulate economic growth, and the entire process has proceeded smoothly without any major obstacles,' he said. On financing, Teetuch said the construction cost would be shared by both countries, with Malaysia allocating RM17 million and Thailand RM32 million, which includes related infrastructure upgrades. He added that construction is expected to begin as early as September, following the contractor selection, or by December at the latest, with completion targeted within 36 months. Previously, Works Minister Datuk Seri Alexander Nanta Linggi said the project involves building a new 117.3-metre bridge parallel to the existing structure, along with upgrading works on the Muhibbah Bridge. In April, the media reported that the Thai Cabinet had approved the construction of a second bridge across Sungai Golok, linking Sungai Golok with Rantau Panjang, Kelantan. The project is viewed as a key step toward strengthening regional connectivity, facilitating cross-border movement, and supporting ASEAN economic integration. Thailand is Malaysia's seventh-largest global trading partner and the third-largest within ASEAN. In 2024, bilateral trade between the two countries reached USD25.03 billion (RM114.56 billion). For the period January to February 2025, trade increased to USD3.96 billion (RM17.65 billion), up from USD3.67 billion (RM16.80 billion) in the same period last year.
Daily Express
03-06-2025
- Business
- Daily Express
Close Anwar-Paetongtarn bond spurs economic, strategic collaboration
Published on: Tuesday, June 03, 2025 Published on: Tue, Jun 03, 2025 By: FMT Reporters Text Size: Regular communication between Prime Minister Anwar Ibrahim and Thai prime minister Paetongtarn Shinawatra has paved the way for more strategic collaboration, said Thai foreign minister Maris Sangiampongsa. (Bernama pic) PETALING JAYA: Malaysia and Thailand are entering a new phase of stronger bilateral ties driven by the close relationship between Prime Minister Anwar Ibrahim and Thai prime minister Paetongtarn Shinawatra, says a senior Thai official. Thai foreign minister Maris Sangiampongsa said the rapport between the two leaders reflected a growing partnership focused on cooperation across multiple sectors, especially in border regions, reported Bernama. 'The prime ministers have built a strong bond. This opens up opportunities, not just in trade and investment, but also in security,' he told Bernama during the 46th Asean Summit held here recently. He added that regular communication between both leaders had strengthened mutual understanding and paved the way for more strategic collaboration. Thailand remains a key economic partner for Malaysia. In 2024, it was Malaysia's seventh-largest trading partner globally and third-largest within Asean, with total trade reaching US$25.03 billion (RM114.56 billion). Trade between the two countries rose to US$3.96 billion (RM17.65 billion) from January to February this year, up from US$3.67 billion (RM16.80 billion) in the same period last year. Both governments are committed to developing the shared border into a vibrant economic corridor, focusing on trade, investment, and cross-border infrastructure to enhance connectivity. Efforts are also underway to integrate special border economic zones to further boost trade and investment in the border areas, which currently account for over 30% of total bilateral trade. Maris described joint border development as a model of mutually beneficial cooperation. He pointed to sectors with high potential – including the halal industry, palm oil, and rubber – as areas for further collaboration. 'While both governments can facilitate opportunities, success depends on strong private sector participation,' he said. 'There are solid policies in place that can support greater business collaboration and regional development.' Anwar and Paetongtarn have maintained regular contact through meetings and phone calls. They have met three times to date: in Putrajaya in December, Bangkok in April, and most recently at the Asean Summit in Kuala Lumpur. They have also agreed to hold a joint Cabinet meeting later this year at the Sadao-Bukit Kayu Hitam border area. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
