Latest news with #RM120mil
The Star
5 days ago
- Business
- The Star
Matrade records RM120mil in trade prospects from Korea Import Fair debut
Matrade chief executive officer Datuk Mohd Mustafa Abdul Aziz. KUALA LUMPUR: The Malaysia External Trade Development Corporation (Matrade) recorded over RM120mil in sales at the Korea Import Fair (KIF) 2025, held from 7 to 9 July at COEX, Seoul. This was Malaysia's first participation in the event. In a statement, Matrade said the Malaysia Pavilion featured 12 companies and one government agency, making it the largest national pavilion at the fair. Malaysia's participation was larger than that of Indonesia, Thailand and Vietnam. Building on this momentum, Matrade carried out promotional activities such as business matching, digital marketing, live streams with local influencers, and media outreach to raise Malaysia's profile and engage Korean buyers. Matrade said these initiatives led to trade prospects exceeding RM120mil, more than double the RM60mil target. It noted that Korean buyers showed strong interest in Malaysian jewellery, footwear, ICT services, apparel, tropical fruits, and food and beverages, reflecting growing demand for Malaysian products in the market. Matrade chief executive officer Datuk Mohd Mustafa Abdul Aziz said the participation in KIF 2025 is part of the agency's broader strategy to unlock export opportunities through targeted international engagement. He said the encouraging outcomes from this event reaffirmed the importance of strategic partnerships, focused promotional efforts and tailored business matching in creating new avenues for Malaysian exporters. Mohd Mustafa also highlighted that Matrade's participation in KIF aligns with Malaysia's long-term vision of strengthening regional connectivity and expanding market access in Northeast Asia.
The Star
11-07-2025
- Politics
- The Star
Asean News Headlines at 10pm on Wednesday (July 9, 2025)
Malaysia * Anwar: OPR cut to 2.75% is prudent, proactive measure * Sabah polls: GRS faces tough fight to stay in power, say analysts * Cargo company manager loses RM693,000 to fake investment scheme promising 100% return * Victim of croc attack in Limbang found dead * Social media influencer 'CEO Batu' charged with sending lewd messages to minor * PAC summons Amir Hamzah over MAHB privatisation * Parking attendant charged with possessing fake pistol, threatening others * Anti-sexual abuse initiatives being set up in Selangor schools * Police record statements from bus driver, cyclists involved in roadside row * Single mother turns to daughter's PTPTN loan to survive financial hardship * Duo to be charged with uni student's murder on July 10, say cops * Rare segment of pre-war trolley track uncovered in George Town * Sibu pet shop owner loses over RM110,000 in phishing scam * Govt urged to lower SST for now due to looming US tariffs * Man charged with sexually assaulting own daughters * Sabah MACC nabs local district office employee for taking over RM200,000 in bribes * More Bersatu leaders should speak up on everyday issues, not just Muhyiddin, says Chegubard * Federal Court defers decision in AGC's appeal linked to Najib's house arrest bid * Woman hauls in fishing net, finds 3-metre croc instead * Serial sexual assault suspect nabbed in Kedah trying to flee country, say cops * MACC uncovers RM120mil infant formula supply cartel * Tough duties ahead for exporters * Primatologist who cares for gibbons recognised * Sarikei smoked prawn producers adopt modern technology to conserve mangroves * Labuan's marvels of nature beckon * Cabinet to weigh US tariff impact * Putra Heights victims get support from gas company Singapore * Status, culture, cost: more Chinese students choosing Singapore as US declines * Female primary school teacher allegedly committed sex acts with underage male student * Singapore Opposition Leader Pritam Singh's appeal against conviction, sentence over lying to Parliament set for Nov 4 * Singapore man gets more than two years' jail and fine of over S$4mil for scheme to evade $3.5mil in taxes on cars * Singaporeans flocking to Johor for durian feasts Indonesia * Indonesia foils illegal online trade of rare insects * S$43,000 fine for undischarged bankrupt doctor in Singapore who failed to disclose assets worth over S$4mil * Indonesia and China sign MoU on copyright cooperation * Severe floods hit greater Jakarta, forcing evacuations * Indonesian government stays mum on Jokowi's health amid growing public concern * Masks on as ash rains down Thailand * South Korean tourist blames airbag for eight-vehicle pileup in Pattaya, Thailand * Palang Pracharath attracts Pheu Thai MPs in major shift * Thailand's Second Army Area chief insists troops fully armed to defend borders * Moo Deng: Star still shines brightly as pink-cheeked, zany internet phenom turns 1 * Tour bus accident in Phetchaburi injures nine passengers * Cabinet shelves casino Bill * Crackdown on products with cannabis after toddler hospitalised Philippines * Former Philippine president Rodrigo Duterte tells Sara: Cremate me in The Hague if I die here * Marcos: Govt working to reduce medical expenses of Filipinos * Filipina comfort women still await justice * Philippines urges reform of global financial system to aid middle-income countries * Philippine defence chief says deterrence, diplomacy used in South China Sea * Chinese envoy summoned after ex-senator sanctioned * Marcos open to limiting and taxing online gambling * 15 cops held over alleged killings of cockfighting fans Vietnam * Vietnamese man gets death penalty for murdering entire family * Prices of fruits in Vietnam drop despite bumper harvest * Vietnam holds first meeting of national election council * Three solutions to help e-commerce sellers adapt to Vietnam's new tax regulations Myanmar * Teacher found dead with eight stab wounds in Myanmar forest * Myanmar reviews process to repatriate 18 foreign nationals who entered illegally Cambodia * Cambodia sends gymnasts to China for training and prep for SEA Games * Cambodia urges investors to remain calm, trust govt, as US tariff negotiations ongoing * Lightning strikes kill 31 people in Cambodia in 2025: official Laos * ADB approves US$65.8mil to boost climate-resilient agrifood systems in Laos Brunei * Bruneian police warn public of fake traffic fine scam website * Marine conservation: Brunei fishermen gain skills, awareness * Bruneian woman detained in BND133,000 fraud case Aseanplus * Indian dad, 55, elopes with son's fiancee, 22, and takes off with family cash and gold * Woman and daughter killed after they are hit by teenager who falls from building in South Korea * At least nine dead after Gujarat bridge collapses, plunging vehicles into river * Dozens of foreigners arrested for alleged online scams in Pakistan * Cricket-Archer makes hotly-anticipated return to England team for third test v India * 'We don't want an emperor': Brazil's Lula speaks up as Brics silent on tariffs * Taiwan launches biggest war games with simulated attacks against military command * Japan alerts on megathrust earthquake amid rising Nankai Trough seismic activity * 'Please be more responsible', says Karyawan, on certain parties misusing the name or brand associated with musicians and bands * Record July temperatures as South Korea grapples with heatwave * HK rock star Danny Summer once cheated in a past marriage, says he's learned from mistakes * Malaysian top alternative rock group Midnight Fusic all set to stage their long-awaited first-ever solo concert * Taiwanese actor Chen Bo-lin to wed girlfriend after dating for 13 years * Ukraine detains Chinese father and son for alleged espionage * Ringgit falls against greenback as US tariff concerns dominate sentiment * More than two dozen critics of Pakistan government face YouTube ban * India set to release report on deadly Air India crash this week * Accession of Algeria, Uruguay to TAC a step forward in boosting ties with Asean, says Tok Mat * Musk's Starlink receives India's final regulatory nod for launch * How Hong Kong eatery Wing became one of the world's best restaurants * Trial challenging Japan's 'hostage justice' opens * Fuel prices July 10-16: Diesel up 3sen, RON95, RON97 unchanged * Algeria and Uruguay officially join Asean's TAC, raising membership to 57 * South Korea says to follow agreed terms on sharing defence costs after Trump's demand * Bangladesh recordings suggest ex-PM ordered deadly crackdown * X blasts India 'censorship' order on thousands of accounts * Russia's foreign minister to visit North Korea, KCNA reports * Asean ministers to work on improving intra-Asean trade ahead of summit in Oct, says Tok Mat * Bank Negara cuts OPR to 2.75% in first rate move since May 2023 * Five missing in landslide as rain lashes China's south and east * Australia's Telstra to axe 550 roles in enterprise business overhaul * IHH Healthcare eyes Indonesia, Vietnam for expansion * Japan's whooping cough cases hit weekly record of over 3,300 * Turkey blocks X's Grok content for alleged insults to Erdogan, religious values * Dollar firm, Asian stocks mixed as traders ponder tariff outlook * Malaysia was still negotiating with US when Trump announced 25% tariff rate, says Zafrul * Tariff negotiations with US will continue, says Anwar * China's 'new farmers' learn to livestream in rural revitalisation * Asean must focus on unity, centrality in increasingly fragmented world, say Tok Mat * FBM KLCI ends early session lower as investors await more clarity * Chinese power bank maker suspends production after recall, aviation ban * Oil prices ease from two-week highs as investors await tariff clarity * World leaders eager to take part in Asean summits, says PM * Asian markets mixed as Trump flags fresh tariffs, eyes on trade talks * Future-proofing Southeast Asia key priority for Asean, says Tok Mat * Asean centrality must be the region's North Star, says Anwar * Samsung heirs sell Seoul villa for US$16mil to help pay record inheritance tax bill * A once-in-a-lifetime experience in northern Pakistan * US banning Chinese investors from purchasing farmland * Asean foreign, economic ministers must unite in facing tariff threat, says Anwar * South Korea's former President Yoon attends hearing on detention warrant * China's factory-gate deflation worst in 2 years amid weak demand, trade risks * Qantas confirms over a million customers' personal information leaked * Asean foreign ministers, sec-gen pay courtesy call to PM Anwar during 58th AMM * South Korea returns six North Koreans stranded at sea this year * Celebrity chef dismayed her recipe used by Australia's mushroom killer * Ringgit opens lower ahead of Bank Negara meeting * Bursa trading subdued ahead of OPR decision * Trump says South Korea should be paying for its own defence * Barbie Hsu's husband personally designs sculpture for her tomb to be unveiled on her birthday * Anwar to open 58th Asean Foreign Ministers' Meeting with talks to focus on regional, global concerns * HK actress Samantha Ko discloses struggle with mental health issues and panic attacks * Air India jet's fuel switches in focus, as crash preliminary report nears * Oil prices edge up on lower US output forecast * Trump's 25% tariff comes with a catch * Human rights the top focus * Treaty expands as Timor-Leste joins Asean * Little monster, big imprint * China extends visa-free entry to more than 70 countries * Dozens missing in deadly deluge * Lurid tale of cross-dressing 'red uncle' goes viral online
The Star
10-07-2025
- Business
- The Star
RM120mil infant formula cartel: MACC questions ten, including family of four
SHAH ALAM: The Malaysian Anti-Corruption Commission (MACC) has recorded statements from 10 individuals as part of an investigation into a infant formula supply cartel to a government department, which failed to meet Sirim Bhd's standards, valued at approximately RM120mil, Sinar Haria reports. Sources told the Malay language daily that four of these individuals are a married couple and their two sons. "This family of four are the owners and directors of the company suspected of orchestrating the cartel," the source revealed. As of now, account seizures have amounted to RM174.6mil, involving 24 individual accounts and 51 company accounts. MACC is also set to investigate the government department linked to the cartel issue. MACC special operations senior director Datuk Mohamad Zamri Zainul Abidin confirmed the asset seizure and told Sinar Harian that the case remains under investigation. An exclusive report by Sinar Harian on Wednesday (July 9) revealed that MACC, in collaboration with the Inland Revenue Board (LHDN) and Bank Negara, uncovered the cartel following the arrest of three family members aged between 40 and 70 years old, comprising two owners and a company director. MACC chief commissioner Tan Sri Azam Baki noted that the company owned by the husband and wife had allegedly monopolised the milk powder supply tender for 20 years. The suspects are believed to have supplied substandard milk powder to a government department across peninsular Malaysia from 2021 to 2024. Subsequently, the MACC raided a milk processing plant and two companies in the Klang Valley. Preliminary investigations also found that many companies securing the milk powder supply tenders to the government department were unrelated to food and beverage production, processing, and distribution. These companies were primarily involved in furniture, electrical, contracting, real estate, transportation, and civil engineering sectors, with some earning profits between 10% to 50% from the milk powder supply.
The Star
09-07-2025
- Business
- The Star
MACC busts RM120mil milk powder cartel
PETALING JAYA: The Malaysian Anti-Corruption Commission (MACC) has raided a cartel involved in supplying milk powder to a government department that does not meet the standards set by Sirim Berhad, with an estimated value of around RM120mil. This follows an integrated operation by the MACC in collaboration with the Inland Revenue Board (LHDN) and Bank Negara in Kuala Lumpur on Tuesday (July 8), reported Sinar Harian. MACC officers conducted raids on three residences and a company led by three family members, consisting of two owners and a company director. More to come
The Star
06-07-2025
- Business
- The Star
Ministry's new village blueprint aiming to revive communities, economies
A FRESH 10-year New Village Development Master Blueprint for Malaysia, succeeding the previous plan, is in the process of being drafted. Instead of private consultants, Housing and Local Government Ministry is looking at local expertise in academia and universities to shape the roadmap. Malaysian Chinese New Village Secretariat chairman Khoo Poay Tiong said the blueprint would be more inclusive, academically driven, and community-focused. 'Our academics have meticulously studied these villages and we should leverage on their expertise. 'Minister Nga Kor Ming has set four key directions for the blueprint – infrastructure development, 'One Village, One Product' initiative, new village beautification, and boosting tourism within these communities,' he said in an exclusive interview with StarMetro. Khoo said improving basic infrastructure was crucial to attracting young people to remain in new villages. 'The government will prioritise upgrading roads, drainage systems, street lighting, community halls and digital connectivity to support a comfortable and connected lifestyle,' Khoo said. 'The ministry is allocating RM100mil annually for development across 613 new villages nationwide. RM120mil was disbursed last year with potentially more for this year.' Recognising new villagers' rich cultural and economic potential, the blueprint will also push for the 'One Village, One Product' initiative, encouraging villagers to promote local offerings either local food, crafts or exclusive attractions. 'From Sekinchan's seafood and padi-based products to Perak's charcoal, many villages possess unique items and the government plans to aid in their promotion. 'Such initiatives are expected to attract tourists, create job opportunities, boost local economies and entice youths to return,' he said. 'Complementing this is the focus on new village beautification, ensuring communities are clean and well-maintained, thus fostering a conducive environment for long-term residency.' Khoo said through the Chinese New Village Bureau (BKBC), a competition called New Village Good Product was held under the One Village, One Product initiative. This provided successful participants with training in marketing and product packaging. 'Some winners have seen a 30% increase in sales after the competition's exposure, building their confidence to promote their products overseas.' The second competition, the New Village Beautification Competition, Khoo said encouraged villagers to adopt green concepts. 'Judges conduct unannounced evaluations to ensure villages maintain cleanliness,' he said, adding that both competitions were divided into north and south of the peninsula. He said the blueprint was geared towards positioning new villages as tourism destinations. 'New villages are rich in history, culture and nature, such as those in Johor, which can become attractive weekend getaways for locals and Singaporeans. 'These villages offer authentic experiences of traditional rural life, fresh food and eco-tourism activities like organic farming and fishing trips,' he said. Beyond macro-level development, the ministry has also introduced micro-level support for vulnerable groups within new village communities. 'This includes home repair grants of up to RM70,000 for B40 families and single mothers,' he said. 'Furthermore, a collaboration with Bank Simpanan Nasional (BSN) provides access to micro personal loans at just 2.5% interest per annum. 'These loans, ranging from RM50,000 for first-time borrowers to RM100,000 for subsequent ones, are helping villagers expand small businesses and renovate homes. 'Last year, over RM10mil in loans were disbursed from a RM140mil allocation, benefitting more than 200 borrowers.' Although depopulation still exists in certain remote villages, there is a growing trend of people returning to new villages. 'Leveraging the existing ecosystem of new villages, some have ventured into eco-farming, while others manage homestays,' he said. Regarding applications for Unesco heritage recognition, Khoo said the ministry was exploring such possibility. 'The ministry's role is to prepare the environment and infrastructure for young adults to return and revitalise local businesses, and boost local tourism. 'The historical and unique origins of new villages form part of our national heritage. 'Any village meeting the criteria for Unesco heritage recognition can apply. 'Who knows, they could transform into heritage towns, just like what happened with Melaka and George Town.' – By JAROD LIM
