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The Star
03-07-2025
- Business
- The Star
Malaysia succeeds in attracting RM8.13bil potential investments from Italy
Prime Minister Datuk Seri Anwar Ibrahim. ROME: Potential investments worth RM8.13 billion have been achieved through the Malaysia-Italy economic cooperation roundtable meeting and meetings with companies here, said Prime Minister Datuk Seri Anwar Ibrahim. The roundtable meeting involved the participation of 41 Italian companies and agencies, comprising 23 companies from the manufacturing sector, nine companies from the service sector, two companies from the trade sector as well as five government agencies and two industrial organisations. "The potential investments achieved through these two meetings are worth RM8.13 billion in the petrochemical, machinery and equipment, electrical and electronics, and oil and gas services and equipment sectors,' he said at a press conference at the end of his visit to Rome, Italy. Anwar, who is also the Finance Minister, said the potential exports generated were worth RM425 million for oleochemical products, renewable energy, biofuel feedstocks, animal feed additives and food. The roundtable meeting allowed potential companies in Italy an opportunity to express their desire to collaborate with Malaysian companies in various sectors such as high-tech manufacturing, renewable energy, digital economy and sustainable infrastructure. Meanwhile, Anwar said that in a bilateral meeting with his counterpart Giorgia Meloni, Rome and Putrajaya would increase cooperation in the energy, solar, geothermal and hydrogen sectors. Among the collaborations are the Petronas and Eni SpA joint venture in Pengerang, Johor in the sustainable aviation fuel (SAF) sector; Perodua and Magna Styer for electric vehicle batteries; and collaboration and investment in the modernisation of the electricity grid, including the ASEAN Power Grid (APG). In the discussion, the Prime Minister said he also applied for recognition of the Malaysian Sustainable Palm Oil (MSPO) certification from Italy, in addition to requesting support for a fairer assessment of the European Union Deforestation-Free Products Regulation (EUDR) Implementation. Malaysia aims to be in the low-risk category in the EUDR benchmark system when the rating is reviewed by 2026. Meanwhile, Malaysia has also sought Italy's support in concluding negotiations on the Malaysia-European Union Free Trade Agreement (FTA). The Prime Minister arrived here on Tuesday for a three-day working visit to Italy, the third largest economy in the EU. The visit was at the invitation of Meloni. Throughout the visit, Anwar was accompanied by Foreign Minister Datuk Seri Mohamad Hasan, Transport Minister Anthony Loke, Agriculture and Food Security Minister Datuk Seri Mohamad Sabu, Defence Minister Datuk Seri Mohamed Khaled Nordin and Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. Also joining the delegation was Deputy Energy Transition and Water Transformation Minister Akmal Nasrullah Mohd Nasir. In 2024, total trade between Malaysia and Italy recorded an increase of two per cent to US$3.18 billion (RM14.61 billion) compared to the same period in 2023. For the period from January to May 2025, total trade between the two countries continued to show positive performance with an increase of 3.3 per cent to US$1.48 billion (RM6.5 billion) compared to the same period in 2024. The Prime Minister departed for France for an official visit on July 3 and 4 after concluding his visit to Italy. - Bernama
The Sun
03-07-2025
- Business
- The Sun
Malaysia succeeds in attracting RM8.13b potential investments from Italy
ROME: Potential investments worth RM8.13 billion have been achieved through the Malaysia-Italy economic cooperation roundtable meeting and meetings with companies here, said Prime Minister Datuk Seri Anwar Ibrahim. The roundtable meeting involved the participation of 41 Italian companies and agencies, comprising 23 companies from the manufacturing sector, nine companies from the service sector, two companies from the trade sector as well as five government agencies and two industrial organisations. 'The potential investments achieved through these two meetings are worth RM8.13 billion in the petrochemical, machinery and equipment, electrical and electronics, and oil and gas services and equipment sectors,' he said at a press conference at the end of his visit to Rome, Italy. Anwar, who is also the Finance Minister, said the potential exports generated were worth RM425 million for oleochemical products, renewable energy, biofuel feedstocks, animal feed additives and food. The roundtable meeting allowed potential companies in Italy an opportunity to express their desire to collaborate with Malaysian companies in various sectors such as high-tech manufacturing, renewable energy, digital economy and sustainable infrastructure. Meanwhile, Anwar said that in a bilateral meeting with his counterpart Giorgia Meloni, Rome and Putrajaya would increase cooperation in the energy, solar, geothermal and hydrogen sectors. Among the collaborations are the Petronas and Eni SpA joint venture in Pengerang, Johor in the sustainable aviation fuel (SAF) sector; Perodua and Magna Styer for electric vehicle batteries; and collaboration and investment in the modernisation of the electricity grid, including the ASEAN Power Grid (APG). In the discussion, the Prime Minister said he also applied for recognition of the Malaysian Sustainable Palm Oil (MSPO) certification from Italy, in addition to requesting support for a fairer assessment of the European Union Deforestation-Free Products Regulation (EUDR) Implementation. Malaysia aims to be in the low-risk category in the EUDR benchmark system when the rating is reviewed by 2026. Meanwhile, Malaysia has also sought Italy's support in concluding negotiations on the Malaysia-European Union Free Trade Agreement (FTA). The Prime Minister arrived here on Tuesday for a three-day working visit to Italy, the third largest economy in the EU. The visit was at the invitation of Meloni. Throughout the visit, Anwar was accompanied by Foreign Minister Datuk Seri Mohamad Hasan, Transport Minister Anthony Loke, Agriculture and Food Security Minister Datuk Seri Mohamad Sabu, Defence Minister Datuk Seri Mohamed Khaled Nordin and Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. Also joining the delegation was Deputy Energy Transition and Water Transformation Minister Akmal Nasrullah Mohd Nasir. In 2024, total trade between Malaysia and Italy recorded an increase of two per cent to US$3.18 billion (RM14.61 billion) compared to the same period in 2023. For the period from January to May 2025, total trade between the two countries continued to show positive performance with an increase of 3.3 per cent to US$1.48 billion (RM6.5 billion) compared to the same period in 2024. The Prime Minister departed for France for an official visit on July 3 and 4 after concluding his visit to Italy.
New Straits Times
03-07-2025
- Business
- New Straits Times
Malaysia secures RM8.13 bill in potential investments from Anwar's Italy visit
KUALA LUMPUR: Malaysia has secured potential investment worth RM8.13 billion in several sectors, including petrochemicals, machinery and equipment via bilateral meetings held in conjunction with Prime Minister Datuk Seri Anwar Ibrahim's visit to Italy. Anwar said potential investments were also secured in the electric and electronics (E&E) sector, as well as oil and gas services and equipment. Malaysia, meanwhile, generated RM425 million in potential exports for oleochemical products, biofuel feed, and livestock food additives. The bilateral meetings involved 41 Italian companies from the manufacturing, services and trade sectors and government agencies. Anwar said several key projects between Malaysia and Italy were reaffirmed during his official meeting with Italian Prime Minister Giorgia Meloni. "In my meeting with the Italian prime minister, which was the main highlight, Prime Minister Meloni and I reaffirmed several ongoing projects that are under discussion and consideration. "An interesting development is Italy's wish to elevate bilateral ties, as well as those between the European Union (EU) and Asean, as they see Asean's potential as a key driver in regional activities and economic development. "As we know, we achieved several framework agreements on economic activity. A project between Petronas and Italy-based European company ENI, known for its strength in biochemicals and carbon capture, utilisation, and storage (CCUS)," he said at a press conference with Malaysian media yesterday. Anwar Ibrahim was accorded a guard of honour upon his arrival at Chigi Palace, the official residence of his Italian counterpart. Anwar was received by Meloni before the national anthems of both countries were played. Meloni then introduced her delegation, which included Italy's Deputy Prime Minister and Foreign Minister, Antonio Tajani, before Anwar introduced his. During the talks, Anwar also conveyed Malaysia's firm position on the humanitarian crisis in Gaza. "We expressed our gratitude for Italy's agreement and clarity in its statement urging a halt to the attacks on Gaza and allowing humanitarian aid access to the area," he said. Anwar extended an invitation to Meloni to visit Kuala Lumpur in conjunction with the upcoming Asean Summit with Dialogue Partners in October. Anwar said, in his discussion with Tajani, they addressed trade, investment, and EU–Asean cooperation, while also reiterating Malaysia's position on Gaza, Iran, and Israel. "We reiterated our firm stance on ensuring justice in response to Israel's aggression in Gaza and the provocations against Iran, which led to Iran's retaliatory actions," he said. "Nonetheless, our central focus was on the pursuit of peace to ensure regional security." Prime Minister Datuk Seri Anwar Ibrahim is currently undertaking a series of visits to three countries – Italy, France, and Brazil – beginning July 1. This series of visits by the Prime Minister is part of Malaysia's ongoing efforts to strengthen bilateral relations and promote economic cooperation at the global level.
The Star
01-07-2025
- Health
- The Star
Yoga in a tavern is the latest mental health outreach in Zimbabwe
It is before sunrise on a Saturday and a small group has gathered at Socialite Bar in on the outskirts of Zimbabwe's capital. Instead of nursing hangovers, they sit with eyes closed and bodies in meditative poses on the bare floor. It's an unlikely setting for a yoga class. In Zimbabwe, the practice is rare and mostly found in the wealthy suburbs. Yet it is quietly taking root here in a beer tavern in Chitungwiza, a low-income town 30km outside the capital, Harare. The initiative is led by Actions Winya, a yoga instructor who saw how economic hardship and social pressures were damaging the mental health of people in his hometown. "Yoga is expensive... but we also got humans in the ghetto. They need mental wellness,' said Winya, who usually teaches in affluent areas charging between US$30 (RM127) and US$100 (RM425) a month. That's an impossible cost for most, especially in a country where many survive through informal 2023, Winya has been offering free weekend classes to some of those hardest hit by Zimbabwe's economic problems. The sessions have become a source of relief for people navigating relentless challenges. Authorities acknowledge a growing societal crisis worsened by drug abuse, domestic violence and poverty, compounded by a shortage of public health services and therapists. "I am a coach, so they bring the stuff that they face within families (to me). This is where we come in and say, 'Guys, come and try yoga, it can help, somehow',' Winya said. Winya (left) assisting a man in perfecting his pose during a yoga class. Yoga, an ancient Indian practice, has become a multibillion-dollar industry and a daily ritual for millions around the world. The United Nations over a decade ago designated June 21 as International Day of Yoga. In Africa, other countries like Kenya and South Africa are introducing yoga to poorer communities, with the Indian government promoting its spread across the continent. Inside the tavern in Zimbabwe, mellow music played as about a dozen participants moved through poses. They had no mats, just a cold brick floor, but plenty of determination for inner peace. One mother tried to stay focused as her toddler dashed around, disrupting her poses. For 47-year-old John Mahwaya, the practice has been transforming. A father of four, he also supports relatives in the countryside, a responsibility he said once weighed heavily on his mental health. "My head was always spinning. I thought I was losing my mind, and the stress started causing back pains,' he said. "Yoga helps me relax and clear my mind. I sleep peacefully these days.' He said many Zimbabwean men bottle up their emotions, afraid to show weakness in a highly patriarchal society that prizes toughness. "We focus on physical fitness, forgetting the mind,' he said. "We suffer slowly, but what suffers first is the mind, and from there, it becomes a slow death.' In Africa, some countries are introducing yoga to poorer communities. Edinah Makosa, 24, joined the class earlier this year and said it gave her hope. "I used to be depressed a lot. You know, for people my age, our main stressors are unemployment and relationships,' she said."Yoga changed my mindset. I used to think negatively all the time. Now I have started selling beauty products to earn a living. As for romance, well if it works, it works; if it doesn't, it doesn't. I no longer stress about men. I go with the flow.' As they practised, the sounds of township life seeped in. Taxi drivers shouted for passengers. Vendors pushed carts, calling out to potential customers. "We need a proper environment and studio. But we are trying,' Winya said. For participants like Mahwaya, the location didn't matter nearly as much as the healing. "We need to promote yoga in the communities because everyone has a mind. And fitness of the mind is the responsibility of everyone, regardless of where you live,' he said. – AP
Business Times
29-05-2025
- Business
- Business Times
IHH Healthcare Q1 profit falls 33% to RM514 million on exceptional items
[SINGAPORE] Integrated healthcare operator IHH Healthcare on Thursday (May 29) posted a 33 per cent fall in net profit to RM514 million (S$156.3 million) for its first quarter ended Mar 31, from RM768 million the year before. The drop came mainly from a lower net monetary gain from the application of MFRS 129, and the recognition of a deferred tax credit in 2024 arising from the revaluation of certain assets in Turkey, which was granted by the Turkish government, the mainboard-listed group said in a bourse filing. MFRS 129 requires financial statements of an entity, the functional currency of which is the currency of a hyperinflationary country, to be restated as the measuring unit current at the end of the reporting period. Excluding exceptional items, IHH's net profit rose 5 per cent to RM425 million on core operational growth, from RM403 million the year before. Revenue for the quarter rose 6 per cent to RM6.3 billion, from RM6 billion the year before. This was mainly attributable to increased contributions from Malaysia, Turkey and Europe, despite the Ramadan holiday period affecting many markets in Q1 2025, the group said. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Earnings per share stood at 5.83 sen for the quarter, down from 8.72 cents in the year-ago period. No dividend was declared for the quarter, unchanged from a year ago. The group noted rising demand for healthcare domestically and across its key markets – which include Malaysia, Singapore, Turkey, India and Greater China – and 'continued revenue growth' driven by healthcare megatrends. It added that it will focus on driving profitability and sustaining a healthy return on equity, while maintaining prudent capital management and mitigating inflationary and interest-rate pressures. To future-proof its business, the group has initiated a multi-year transformation plan with seven focus areas: clinical excellence; patient experience; new care models; operational excellence; payor and regulator engagement; employee and doctor value proposition; and the advancement of technology, data and artificial intelligence. Dr Prem Kumar Nair, group chief executive officer of IHH Healthcare, attributed the group's 'resilient operational performance' in Q1 2025 to an improvement in in-patient volumes and higher revenue intensity across some markets. The group remains on track to achieve its goal of expanding capacity by 4,000 beds, with 1,000 beds already added in 2024, he added. Shares of IHH Healthcare closed flat at S$2.09 on Thursday, before the results were announced.
