Latest news with #RM255
The Sun
05-07-2025
- Business
- The Sun
Angkasa approves RM255m for nine high-impact cooperative projects
KUALA LUMPUR: The 39th ANGKASA delegates' general meeting (MAPA) today approved an allocation of RM255 million to implement nine high-impact business projects set to benefit both the cooperative community and the general public. Angkatan Koperasi Kebangsaan Malaysia Berhad (ANGKASA) president Datuk Seri Dr Abdul Fattah Abdullah said the projects include the establishment of a cooperative-owned digital bank, food security initiatives, the development of affordable housing and the production of dairy products. 'Our goal is for cooperatives not only to remain relevant but to become major players in critical economic sectors such as food security, digital financial services and affordable housing. 'This RM255 million allocation aims to unlock greater potential and positioning cooperatives to be more competitive and sustainable,' he told reporters after the meeting, held at the World Trade Centre Kuala Lumpur today. The meeting also saw elections for ANGKASA's top two leadership posts - president and deputy president. Abdul Fattah retained his position after securing majority support from delegates, while Associate Prof Datuk Dr Abdul Rahman Abdul Razak Shaik was elected as deputy president for the 2025-2028 term. The annual meeting brought together 4,898 cooperative delegates from across the country to deliberate on key resolutions, the strategic direction of the national cooperative movement, and action plans to strengthen the standing of Malaysian cooperatives at both domestic and international levels. - Bernama
Borneo Post
24-06-2025
- Business
- Borneo Post
Sarawak records nearly 2 mln visitors in first five months, Bruneians lead arrivals
Ting (centre) fields questions from the press after chairing the meeting while Dennis (left) and Sherrina look on. MIRI (June 25): Sarawak is on track to meet its target of five million visitor arrivals by the end of this year, having recorded nearly two million visitors between January and May, said Datuk Sebastian Ting. The Deputy Minister of Tourism, Creative Industry and Performing Arts said the state registered a total of 1,994,257 visitor arrivals during the period, with the highest numbers coming from Brunei Darussalam (647,184) and Indonesia (296,859). 'We also welcomed visitors from China (28,815), Singapore (23,906) and the Philippines (18,621),' he told a press conference after chairing the Sarawak Tourism Coordination Committee (STCC) meeting at a leading hotel here yesterday. Ting said the strong momentum builds on Sarawak's encouraging performance last year, when tourism receipts rose to RM12.45 billion from RM9.99 billion in 2023. 'For the first five months alone, Sarawak has already recorded RM5.07 billion in tourism revenue. We are confident of reaching our target of five million arrivals and RM12.73 billion in tourism receipts for 2025,' he said. He added that the RM255 millionallocations to the tourism sector under the Sarawak Budget 2025 reflects the Premier's confidence in the ministry's efforts to boost tourism. When asked which city saw the highest tourist arrivals, Ting said Immigration Department statistics suggest that Miri is likely at the top, mainly due to its proximity to Brunei. 'Nearly 33 per cent of tourist arrivals in the first five months were from Brunei. This is not only due to geography but also attractions such as Niah National Park and Mulu National Park,' he said. On the STCC meeting, Ting said the discussion focused on key challenges including connectivity, infrastructure and promotional efforts. 'Our ministry remains committed to positioning Sarawak as a leading tourism destination that showcases our rich arts, culture, and heritage,' he added. Also present were Sarawak Tourism Board (STB) chairman Datuk Dennis Ngau and the ministry's permanent secretary Datu Sherrina Hussaini. brunei Sebastian Ting tourism tourist arrivals
New Straits Times
21-06-2025
- New Straits Times
Retired teacher, senior citizen lose RM352,000 to scams
JOHOR BARU: Police are investigating two commercial crime crises that cost a retired teacher and a senior citizen more than RM352,000 in total losses. Johor Baru South police chief Assistant Commissioner Raub Selamat said the first case involved a 60-year-old retired teacher who lost RM243,975 in an investment scam advertised on social media. Lured by a promised 560 per cent return within three months, the victim joined a WhatsApp group and was instructed to download an application purportedly linked to the investment. Between April 28 and June 19, the victim made seven online and over-the-counter bank transfers totalling RM255,100 into two bank accounts. She received RM11,125 in returns, resulting in a net loss of nearly a quarter million ringgit. "Checks revealed 17 prior fraud reports linked to the bank accounts used," Raub said in a statement today. In the second case, a senior citizen lost RM108,959 after he received a phone call from a man claiming to be a bank officer. The caller claimed the victim's credit card had been misused on an e-commerce online platform and convinced him to perform several "verification" transactions, which included transferring RM8,989 from his wife's credit card to the suspect's TNG eWallet. He was also instructed to transfer RM99,970 via DuitNow from his bank account. Raub said the suspect became unreachable once the transactions were completed. Checks showed the phone number had been linked to two similar fraud cases. He urged the public to be wary of investment offers on digital platforms and not to trust promises of unrealistic returns. He also advised verifying suspicious calls through official bank channels and reporting scams immediately to the National Scam Response Centre at 997, which can help block suspect accounts and stop fund transfers.
The Star
02-06-2025
- Business
- The Star
Less-expensive luxury fashion brands are slowly gaining ground, but why?
Ultra-luxury is losing its lustre – and mid-tier competitors are capitalising. Industry bellwether LVMH Moet Hennessy Louis Vuitton SE, which reported weaker-than-expected sales in the latest quarter, was accused of selling a Dior bag that costs about US$60 (approximately RM255) to make for US$2,800 (RM11,918). Meanwhile, Tapestry Inc's Coach is cashing in on cool with its US$495 (RM2,107) Tabby bag – a viral hit that costs a fraction of a similar shoulder bag from Dior or Chanel. That's just one example of how mid-tier luxury brands are weathering the current economic uncertainty better than their ultra-luxury and fast-fashion counterparts, as consumers seek quality and value without the sky-high prices amid a weaker global economy. "There's a bit of a backlash going on,' said Fflur Roberts, head of luxury goods at Euromonitor International. Consumers are questioning the true value behind the price, including how items are made and the cost versus what they're really worth, she said. Read more: Why Elf Beauty is banking big on Rhode, Hailey Bieber's fan-favourite brand As wealthy consumers trade down, mid-tier brands are performing increasingly well. Tapestry, which also owns the Kate Spade and Stuart Weitzman brands, recently raised its forecast for the year after reporting quarterly results ahead of analyst estimates. Amer Sports Inc, which owns premium sportswear brands Salomon and Arc'teryx, also increased its projections for the full year, while Michael Kors owner Capri Holdings Ltd and Hugo Boss AG both outperformed market expectations. Ralph Lauren Corp is another winner, offering a broad price range and maintaining appeal through its classic design, according to Bloomberg Intelligence senior retail analyst Mary Ross Gilbert. Same-store sales rose 13% in the three months through March 29, nearly double what analysts expected. Meanwhile, luxury giants Hermes International SCA and Gucci owner Kering SA joined LVMH in disappointing investors in the most recent earnings season, while privately-held Chanel Ltd's profit plunged. On the other end of the spectrum, fast fashion also struggling. "We've seen a more difficult environment,' said BI senior analyst Charles Allen. Higher Zara prices and fewer H&M promotions are deterring shoppers, he added. Zara owner Inditex SA, Hennes & Mauritz AB and Primark, owned by Associated British Foods Plc, all reported slower growth or missed targets, while JD Sports Fashion Plc's same-store sales fell 2% in the first quarter and are expected to drop again. Tariffs – a key reason for the luxury slowdown – leave retailers targeting value shoppers little wiggle room. Read more: Dior's first female head of womenswear, Maria Grazia Chiuri, steps down Uniqlo owner Fast Retailing Co already warned these could hurt future earnings, while H&M said it may raise prices to offset the impact, which could push shoppers further away. Still, some consumers may be returning to stores. Primark US sales grew in April – partly due to the Easter holiday shifting to the month, after shrinking the previous two months, according to observed sales data collected by Bloomberg. Meanwhile, US wages continued to grow in April, and the country is still at a full employment level with the unemployment rate at 4.2%. US spending in April, however, ground to a halt. "If people have money and see something tempting, they'll spend,' Allen said. "People don't always behave how they say they will.' – Bloomberg
Daily Express
08-05-2025
- Daily Express
Ex-Putatan Council executive cleared
Published on: Thursday, May 08, 2025 Published on: Thu, May 08, 2025 By: Cynthia D Baga Text Size: Awang (left) with his counsel Zahir after the proceedings. Kota Kinabalu: A 49-year-old Putatan District Council (MDP) Executive Officer won in his appeal against the sentence and conviction on the 14 bribery charges which involved the amount of RM50,500 in 2017 and 2018, when the High Court allowed his appeal on Wednesday. Judge Datuk Celestina Stuel Galid set aside both the conviction and sentence of Awang Saifudin Jumat who then was freed from the 14 charges. Awang had appealed against the decision by the Session Court which convicted and found him guilty of the bribery charges. According to counsel Zahir Shah, who represented Awang, the High Court judge stated that the Sessions Court judge had failed to consider the cross-examination of the prosecution's main witness. Zahir said the judge stated that during cross-examination, the witness testified that the monies transferred to the Awang's bank account was not related to the projects awarded to the said company, thereby refuting the elements of the 14 charges. On May 3, 2024, Awang was convicted and sentenced to one-year imprisonment and fined RM255,000 by the Special Corruption Court here after he was found guilty for 14 counts of receiving bribes. The court imposed one year imprisonment and a fine of between RM10,000 and RM50,000 for each charge. The Sessions Court Judge ordered for the jail sentences to be run concurrently from the date of Awang's conviction but his application to stay execution of the sentence had been granted pending appeal to the High Court. The charges stated that Awang, as an executive officer, he had accepted RM50,500 from a woman as an inducement to grant her the repair, supply and service work contract for the council from 2016 to 2018. The said money was deposited into Awang's bank account between Nov 15, 2017, and Feb 26, 2018, at a Maybank branch in Putatan. The offence under Section 17(a) of the Malaysian Anti-Corruption Commission (MACC) Act 2009, which is punishable under Section 24(1) of the same act that provides for a jail term of up to 20 years and a fine five times the bribe amount, upon conviction. Eighteen prosecution witnesses and three defence witnesses were called during the trial which started in June 2023. Malaysian Anti-Corruption Commission (MACC) Deputy Public Prosecutor Nurul Izzati Sapifee for the respondent. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * 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
