Latest news with #RM11bil
The Star
01-07-2025
- Politics
- The Star
Asean News Headlines at 10pm on Tuesday (July 1, 2025)
Malaysia * Putra Heights gas blast case classified NFA, says Selangor top cop * Kevin Morais murder: Federal Court upholds conviction of three men, including ex-pathologist * Penang firemen rescue boy from burning apartment unit * Fisherman's interaction with croc garners attention online * Support available as expanded SST begins * Report: Soil instability, not foul play, led to pipe failure * Businessman in Sabah graft case says he's a small fry * Appointment of judges decided by Constitution, PM reminds * Johor to tap into history, culture for tourism boost * Errant tourist boat operators may get licences revoked * Police quiz five over rape of teenage girl * Man denies molesting employer's daughter * Building rapport with Tanjong community over feast of durians * Celebrating Malaysian culture with durian, sarong at Kampung Tunku fun run * East Coast region investments above target * GEAR-uP shifts into top gear with RM11bil drive * Umno general assembly postponed to November due to Sabah polls * New US visa rules require applicants to make social media public * Ex-CID director Shuhaily clocks in as new border control agency DG * On razor's edge in Borneo * Teacher loses RM890,000 to phone scam * Malaysia's manufacturing edges closer to stabilisation in 1H25 - S&P500 * Teenager with intellectual disability charged with murder * Sarawak's Internet coverage set to reach 93.6% by year-end * Lawyers say farewell to retiring top judges in moving speeches * Govt to boost highway connectivity with 'Roads Must Have Internet' drive, says Fahmi * Putra Heights inferno: Affected consumers, residents to receive gas supply starting today, says DOSH * Anwar tests revamped KLIA Aerotrain, praises performance * Cyberjaya murder: Housemate's boyfriend had 'ill intentions' towards victim, say cops * Additional document: Apex court dismisses Najib's objection to AG's appeal * Govt maintains credit scheme for over 96,000 rooftop solar users * Passengers on new KLIA Aerotrain describe it as more efficient, comfortable * UMS water crisis is proof of dismal state of Sabah's infrastructure, says Warisan leader * Malaysia facing serious shortage of occupational therapists, says Health Ministry * No signs of injuries on bodies of mother, toddler found dead in Penang apartment * Madani book voucher for teachers initiative starts today * Perhentian boat tragedy: Skipper's licence suspended pending probe, says Marine Dept * Federal Court overturns punishment for failure to notify police of peaceful assembly * Corruption allegations not exclusive to GRS, says Armizan * S'gor cops seize RM25mil worth of drugs after busting two unrelated drug syndicates * MCMC records statement from man over an allegedly offensive post * Appealing Umno suspension would go against my principles, says Hishammuddin * JPJ mulls extending mandatory seatbelt ruling to cover additional bus categories * Amendments to Medical Regulations and Act come into force today * RON95 subsidy rationalisation in final stages * 'No regrets, six months not significant compared to six years', says CJ on retirement * Five nabbed, over RM4mil in untaxed ciggies, booze seized * Cops seize RM4.16mil in imitation firearms during raids nationwide * Ranau unveils roadmap for inclusive growth and heritage preservation * Five, including a datuk, charged with illegal deposit taking * JPJ to blacklist foreign motorists for unpaid AWAS summonses starting July 1 * Special compound rate payment offer extended until Dec 31, says JPJ * Ipoh oil and gas consultant loses RM2.7mil in online investment scam * Home Ministry to table Peaceful Assembly Act amendments this month, says Saifuddin Nasution * Man shot outside Penang school Singapore * Finding the right fare for RTS link * Tribunal rejects Singaporean's tax refund claim due to jurisdiction issue * Nurse allegedly molested male relative of patient at a Singapore hospital * Malaysian charged with cheating, alleged links to syndicate that operated devices to make scam calls in Singapore * Returning Singaporean students can, from July 10, apply to join local schools * Singaporean seniors can claim S$800 SG60 vouchers from July 1; adults to get $600 in vouchers from July 22 * Singaporean actor Marcus Chin bleeds in mouth during live broadcast of charity show * Singaporeans call for improvements to VEP-RFID system amid full enforcement * 1MDB saga: Standard Chartered Bank refutes US$2.7bil claim by liquidators in Singapore * 'He fought till the end': Singaporean man who survived acid attack as a baby dies of cancer at 26 * Trial opens for three women who allegedly organised procession outside Istana in Singapore Indonesia * Ground-breaking EV ambitions * Malaysian tourist rescued after snorkelling ordeal in Indonesia's Labuan Bajo * Miss Indonesia finalist expelled over old pro-Israel video * Indonesia pushes EV battery, critical mineral projects to woo US in tariff talks * Asean secretary-general urges stronger cruise tourism ties with India Thailand * Thai court suspends PM from duty pending case seeking her dismissal * Thai PM revamps Cabinet in bid to steady wobbly government * Thaksin faces first witness hearings in lese majeste case * Paetongtarn expresses gratitude after new cabinet appointed, remains tight-lipped on defence minister role * Thai court suspends PM Paetongtarn Shinawatra over leaked phone call * Thailand's Deputy PM Suriya to become caretaker premier, minister says * Suspended Thai PM says she's sorry, accepts court's decision * Dynasty in distress: Thai Prime Minister Paetongtarn's fate in limbo * Opposition leader urges dissolution as Thai PM suspended from duties Philippines * China imposes sanctions on former Philippine senator Francis Tolentino: spokesperson * Lea Salonga warns of AI video claiming she's in a wheelchair due to arthritis * Philippine fishers' group rejects US ammo factory in Subic Bay * Philippine public warned against illegal offshore gaming sites * Philippines, Australia end six-week cyber warfare drills Vietnam * Vietnam rolls out key tax reforms starting July 1 * Vietnam taps halal market in bid to boost agricultural exports * Vietnam issues urgent nationwide warning as online scams surge * Vietnam, Vatican seek to deepen bilateral ties * Vietnam approves dual citizenship law to attract skilled foreign workers Myanmar * Eight inmates injured in artillery attack on Bhamo Prison * Myanmar's central bank blacklists 197 companies for violating regulation Cambodia * Cambodia sees 50% rise in Chinese tourist arrivals in Jan-May period * Recently discovered gecko species in Cambodia proposed for endangered list * Cambodian in custody after soliciting fake donations for border troops, sharing false information * Cross-border tourism suffers as Cambodia-Thai dispute drags * Cambodian PM confirms control over political decisions during border tensions: report Laos * Laos to deploy soldier-teachers in rural areas * Laos steps up life skills education for gender equality Brunei * Religious ceremony in Brunei marks royal birthday * Setting clear, meaningful goals essential: Brunei permanent secretary Aseanplus * India-Pakistan conflict hits shared love of film and music * US to restart trade negotiations with Canada immediately, White House says * PM begins week-long trade trip to Italy, France and Brazil * Babymonster members unhurt after lift malfunction * Gamuda docks another deal in Taiwan * Factory activity decline eases after trade truce * 'Death-tainted' homes gain appeal * Global reverence as Dalai Lama turns 90 * Foreign shareholdings in RHB, AMMB hit new highs * China to resume some Japanese seafood imports after ban * Bracing for a blistering month * China's science tech sector maturing rapidly amid incentives * Senior shuttlers win six WMG medals in Taipei * Snakes on a plane bound for India, again * Tensions rice over staple crop shortage * Stamping her mark * More foreign buying of ringgit bonds possible * JS-SEZ, RTS link to boost Johor property market * Ringgit closes higher against major currencies * Trump says TikTok buyer group found, needs China nod * Singaporean actress Gina Lim feels lonely after moving to new city in Taiwan * Bursa Malaysia maintains rally as progress seen in US tariffs negotiations * Critical minerals to top Modi's agenda in five-nation tour * Ringgit opens stronger as US$ weakens further * Trump floats Japan tariff, Hassett says deals after July 4 * Asian shares rise, dollar weaker as US bill debate lingers; gold jumps * Japan says it won't sacrifice farm sector after Trump complains about rice * China's factory activity returns to growth in June, Caixin PMI shows * Bangladeshis cling to protest dreams a year after revolution * Global stock rally extends in Asia, dollar steady * Online memorial for children dead in Hiroshima, Nagasaki * Ahmad Zahid wants Malaysia's rural agenda to serve as regional model for Asean * K-drama 'When Life Gives You Tangerines' that made the president cry — and why it matters for South Korea's cultural policy * Hong Kong rights record under scrutiny as it marks China handover anniversary * HK celeb couple Kenneth Ma, Roxanne Tong visit Malaysia together for the 1st time; actress shuts down pregnancy rumours * Australian nursery worker charged with dozens of child sex crimes * Pikachu, Snorlax named Japan ambassadors to promote better sleep * Anwar leaves for Rome to begin week-long working trip in Italy, France and Brazil * Malaysian 90s top band Exists breathe new life into their hit song "Alasan Mu"; group also all set for their concert in October * Global investors double down on Chinese assets * China's asteroid sampling spacecraft sends back pictures of Earth and moon * Standard Chartered Bank faces US$2.7bil lawsuit over alleged role in 1MDB fraud * Nearing time of peace in Malaysian music industry: Karyawan welcomes M. Nasir's call for amicable negotiation * China says it hopes Thailand will maintain 'stability' * Hybe to open India office this year, testing K-pop playbook from America to Asia * India's Sigachi factory fire death toll rises to at least 36, official says * Pakistan to consider extending deadline for Afghan refugees facing mass deportation * Mt Fuji to kick off climbing season with new rules * South Korea's former president Yoon defies summons in martial law probe * Australia calls for infectious disease tests of 1,200 children after man charged with sex offences * Ringgit ends higher on improved sentiment towards emerging market currencies * Japan had hottest June on record: weather agency * 'Bomb cyclone' pummels Sydney with heavy rains, winds * Two killed, six missing after heavy rains in central China * Closure of Hong Kong's famous Taipan bakery leaves 211 employees seeking HK$32 million * TVB star Katy Kung denies rumours of frequenting racecourse to 'hunt for a rich husband' * Embrace AI in teaching to survive 'tsunami', University of Hong Kong head says * How the dance of death stars puts a new spin on the way suns are born * Was Keung To's fall into sea a cry for help for Hong Kong band Mirror? * China moving 'breathtakingly fast' in space military tech: US general * HK-based actress Natalie Ng announces divorce after 14 years of marriage * Six dead, several injured in south India firecracker factory blast * Indian capital bans fuel for old cars in anti-pollution bid * India and Pakistan exchange lists of prisoners
The Star
23-06-2025
- Business
- The Star
OCBC commits over RM11bil for Johor growth
From left: Bank of Singapore CEO Jason Moo, OCBC Bank (M) Bhd CEO Tan Chor Sen, CBC Group CEO Helen Wong, Johor Mentri Besar Datuk Onn Hafiz Ghazi, Great Eastern Group CEO Greg Hingston, Great Eastern Life Assurance (M) Bhd CEO Datuk Koh Yaw Hui and OCBC Al-Amin Bank Bhd CEO Syed Abdull Aziz Syed Kechik. JOHOR BARU: The OCBC Group has committed over RM11bil in financing to businesses in Johor since the start of last year, as part of its commitment to the development of the Johor-Singapore Special Economic Zone (JS-SEZ). By the end of 2025, the group expects to provide at least another RM3bil in financing for investments into various sectors including real estate, oil and gas, manufacturing and data centres, said OCBC Group CEO Helen Wong during a recent courtesy visit with her senior executives to Johor Mentri Besar Datuk Onn Hafiz Ghazi at his official residence in Saujana. Reiterating the group's long-term support for JS-SEZ, Wong emphasised that OCBC's One Group approach is underpinned by the collective strengths of OCBC Bank, its insurance subsidiary Great Eastern Holdings, its private banking arm Bank of Singapore, and its leasing and wealth management capabilities. This uniquely positions the group to support business growth and cross-border collaboration. Leveraging its deep-rooted history in Johor, diverse financial capabilities, and integrated regional network, OCBC is well-placed to contribute meaningfully to the JS-SEZ, fostering stronger economic ties between Singapore and Malaysia. Meanwhile, Onn Hafiz said the OCBC Group's commitment of over RM11bil in financing, with at least RM3bil more by year-end, reflects a strong endorsement of Johor's economic direction and investment potential. 'We welcome this partnership and look forward to working closely with OCBC to unlock Johor's full potential as Asean's next economic powerhouse,' he noted. According to OCBC Bank (M) Bhd CEO Tan Chor Sen, even prior to the official signing of the JS-SEZ agreement in January this year, OCBC had already taken proactive steps in Malaysia to showcase the zone's potential to global investors. 'OCBC has a strong track record of assisting foreign businesses in establishing operations in Malaysia and has facilitated the entry of new companies from various sectors, including services, construction, manufacturing, and wholesale and retail trade. 'Our collaborative efforts in the past with the mentri besar of Johor and key stakeholders such as the Iskandar Regional Development Authority, Malaysian Investment Development Authority and Invest Johor for the JS-SEZ Trade and Investment Mission have been fruitful,' Tan said. Great Eastern Life Assurance (M) Bhd CEO Datuk Koh Yaw Hui added: 'Along with OCBC Malaysia and the wider OCBC Group of which we are a part, we are excited about having a role in bringing to fruition the strategic initiatives aimed at transforming the border region between Malaysia's Johor state and Singapore into a premier economic hub.'
The Star
22-06-2025
- Business
- The Star
OCBC commits RM11bil, aiming to add RM3bil to boost Johor's economy
KUALA LUMPUR: OCBC Group has committed over RM11bil in financing to Johor businesses since early last year, as part of its support for the Johor-Singapore Special Economic Zone (JS-SEZ). 'By the end of 2025, the group expects to provide at least another RM3bil in financing for investments into various sectors including real estate, oil & gas, manufacturing and data centres,' the bank said in a statement. OCBC Group chief executive officer Helen Wong said the bank has a long history in Johor, with its first branch in the state established in 1917. She said OCBC now operates eight branches in Johor, out of a total of 38 across Malaysia. 'Having already committed over RM11bil in financing to businesses in Johor, we are looking to further catalyse local economic activities and cross-border investments in Johor and JS-SEZ through at least another RM3bil in financing by year-end. 'We are honoured to have this opportunity to explore with the Johor Menteri Besar how we can build on these solid foundations and leverage the full capabilities of the OCBC Group's extensive regional franchise to contribute to the success of the JS-SEZ,' Wong said. Meanwhile, Johor Menteri Besar Datuk Onn Hafiz Ghazi said the bank's commitment of over RM11bil in financing — with at least RM3bil more expected by year-end — reflects strong confidence in Johor's economic direction and investment potential. 'We welcome this partnership and look forward to working closely with OCBC to unlock Johor's full potential as Asean's next economic powerhouse,' he added.
The Star
10-06-2025
- Business
- The Star
FBM KLCI steadies above 1,500 amid cautious sentiment over trade talks
KUALA LUMPUR: The FBM KLCI started Tuesday on a cautious note, with mild early movements reflecting subdued investor sentiment amid ongoing U.S.-China trade uncertainty and continued foreign outflows from the local market. The market barometer saw tepid swings in early trade today, opening marginally higher at 1,519.71, dipping to 1,517.74, and then inching up 0.65 points to 1,520.06 as of 9.21 am. Overnight, the S&P 500 climbed 0.09% to end the session at 6,005.88 points. The Nasdaq gained 0.31% to 19,591.24 points, while the Dow Jones Industrial Average ended essentially unchanged at 42,761.76 points. Among the gainers on Bursa Malaysia, PETRONAS Gas rose 14 sen to RM18.28, Carlsberg added 10 sen to RM19.56, Malaysian Pacific Industries gained eight sen to RM20.98 and 99 Speed Mart climbed five sen to RM2.15. Nestle tumbled 72 sen to RM75.02, APM slid 43 sen to RM3, Panasonic Manufacturing lost 12 sen to RM11.80 and Tenaga declined eight sen to RM14.20. Rakuten Trade expects the FBM KLCI to trend within the 1,515-1,525 range today. The research house noted that, so far this year, the local bourse has recorded over RM11bil in net foreign outflows, as investors shift their attention to the more robust Hong Kong market. 'No thanks to Trump's flip-flop tariff policy, consensus has downgraded overall earnings by corporate Malaysia, namely the banks, hence the lacklustre interest in the local equities,' Rakuten said. Meanwhile, Inter-Pacific Research noted that the key index seems to have found support just above the psychological 1,500 level, a position it is likely to hold in the near term. This comes as market participants remain cautious, awaiting the outcome of ongoing U.S.-China trade talks, which remain at a standstill following inconclusive overnight negotiations. Even so, Inter-Pacific said the FBM KLCI is likely to trend higher, with a mild upside bias expected to persist in the near term, supported in part by optimism that a trade deal between the two sides could eventually be reached. 'At the same time, the selling pressure is also easing somewhat and should allow for more bargain hunting to emerge for now. 'On the upside, there are resistances at the 1,523-1,525 levels and 1,530 points respectively. The supports, meanwhile, are at 1,510 and 1,503 points respectively,' Inter-Pacific said.
The Star
22-05-2025
- Business
- The Star
Mindef signs agreements worth RM11bil
LANGKAWI: The Defence Ministry (Mindef) has signed 40 contracts or letters of acceptance (LOA), letters of intent (LOI) and memorandum of understanding (MOU) worth RM11bil with selected strategic partners during the Langkawi International Maritime and Aerospace Exhibition 2025 (Lima'25). Defence Minister Datuk Seri Mohamed Khaled Nordin (pic) said these contracts involved 40 LOA, two LOI worth over RM30mil to companies that have been awarded procurement contracts by Mindef and six MOUs between Mindef and selected strategic partners. 'However, the total value of the contracts also includes 45 other procurement contracts worth between RM10mil and RM30mil signed previously,' he said after the signing and handover ceremony of the contracts, LOA, LOI and MOU at the Mahsuri International Exhibition Centre here yesterday, Bernama reported. Mohamed Khaled said the procurement amount increased by about RM1bil compared to around RM10.1bil with 43 documents, signed at Lima'23. All those acquisitions, he said, involved five main areas, namely the acquisition of strategic assets for land, maritime, air defence, cybersecurity and the facilities and welfare of the Malaysian Armed Forces (MAF). He said that this was done to enhance the readiness of the country's defence assets to the highest level and to strengthen territorial sovereignty, citing as an example, a LOI to Mildef International Technologies Sdn Bhd for the procurement of 136 units of Type A Armoured Vehicles and Infrastructure worth RM1.88bil. He said this was important in efforts to strengthen the readiness of the MAF assets to the maximum level and to support the development of defence capacity and the strengthening of local industry capabilities. The minister also said the empowerment of MAF's capabilities is also being carried out by ensuring that assets are always in good condition through the enhancement of existing asset capabilities. 'Under this aspect, among the contracts that have been sealed include the Maintenance and Repair Contract for the Prime Minister's Class Submarine worth RM1.02bil and the obsolescence management service procurement contract for KD Perdana worth RM48mil,' he said.
