Latest news with #RM6.4bil
The Star
01-07-2025
- Business
- The Star
‘Factual criticism on tax welcome'
PUTRAJAYA: In the name of transparency, the government is ready to accept criticisms of the taxation system, but concerns must be based on facts, says the Prime Minister. Datuk Seri Anwar Ibrahim said criticisms should be conveyed through the proper channels and not by slander or verbal abuse. 'I noticed some university students complaining about the electricity bill adjustment. 'Electricity rates have not gone up, so is it true they are affected? 'If it is indeed true, then we need to fix it because public universities are exempted,' he said at the Prime Minister's Department's monthly assembly, Bernama reported. 'Such matters, when spread in the name of freedom, can become avenues for slander and verbal abuse. 'Please provide facts. I have no issue with people complaining or offering criticism,' he said. The Prime Minister explained that the adjustment of electricity tariffs and the expansion of the Sales and Service Tax (SST) are to ensure that those with higher financial means contribute a fairer share, while protecting segments of the population from undue financial pressure. 'If possible, we would rather not burden the people with taxes. 'But if there are one or two cases where people are affected, we can make improvements. 'However, to outright oppose the electricity (tariff) adjustment, I think that's not right,' he said. On June 9, the government announced a targeted review of the Sales Tax rate and the expansion of the Service Tax scope, which will take effect today. The Energy Commission had announced that more than 23.6 million domestic users in Peninsular Malaysia will benefit from a fairer and more progressive electricity tariff structure that will be in effect from today to Dec 31, 2027. Meanwhile, the Prime Minister said the East Coast Economic Region Development Council (ECERDC) has successfully recorded RM6.4bil in realised investments in the first six months of this year. The ECERDC has also successfully created more than 2,800 jobs to date, he added. 'The amount of committed investments has reached RM10.4bil, surpassing the RM10bil target set for 2025,' he said in a post on his official Facebook page. Earlier, Anwar attended a meeting with the ECERDC to review the latest progress on key performance indicators for the economic corridor, and to discuss the development framework for the East Coast Economic Region (ECER). 'I emphasised the importance of prioritising the country's long-term interests in attracting investors, including ensuring technology and skills transfer elements in every approved investment. 'The ECERDC needs to maintain this momentum through an efficient and proactive facilitation process which will strengthen the region as a competitive investment destination both nationally and internationally,' he added. Meanwhile, the ECERDC said the manufacturing sector accounted for 59% of the RM6.4bil realised investments, with Pahang leading the list with RM4bil, followed by Terengganu (RM1.3bil) and Kelantan (RM1.1bil). Johor reported investments amounting to RM13.3mil in the agriculture sector, specifically from the establishment of a biocompost facility in Mersing.
The Star
20-05-2025
- Business
- The Star
Sky-high plans in the south
The Trump Organisation and a local partner are exploring plans to build a skyscraper in the business hub of Ho Chi Minh City, with Eric Trump expected to visit this week, a Vietnamese government document seen by Reuters shows. The visit by the son of US President Donald Trump comes just after Vietnam gave his family business the green light for a separate US$1.5bil (RM6.4bil) golf project as the export-reliant South-East Asian nation holds talks with Washington to avoid punitive trade tariffs. Ho Chi Minh City officials are invited to 'attend a dinner party with Eric Trump, senior vice-pres-ident of the Trump Organisation' set for Thursday evening at a central hotel in the city, according to the internal document. The May 15 document, signed by the acting head of the foreign ministry department in the city, said representatives of the Trump Organisation would visit an upscale central area. There, they would 'survey the proposed location of the Trump Tower building and hope to have a working session with the city's leaders about this project', it added, inviting local authorities to cooperate with the business delegation. The Trump Organisation is run by Trump's children after he handed off its leadership after he won his first term as US president. Another meeting between Ho Chi Minh City authorities and a representative of the venture between the Trump Organisation and its Vietnamese partner, real estate developer Kinhbac City, was set for yesterday, the document showed. Both meetings are confirmed in a public schedule published yesterday on the Ho Chi Minh City website, which does not, however, elaborate on their content or name the participants. Vietnam's foreign ministry, the Trump Organisation and Kinhbac City did not immediately reply to requests for comment. With the skyscraper plan in an early stage, it is unclear if it will be pursued by the Trump Organisation and if authorities will approve it. The plan for the Trump delegation's visit, which could change, comes after Vietnam approved last week a plan by the Trump Organisation and Kinhbac City to invest US$1.5bil in golf courses, hotels and real estate projects in its north. In March, Reuters reported that the groundbreaking event was set for May, and that the Trump Organisation and its local partner were also seeking additional projects in the country. Although they are considering multi-billion-dollar investments in Vietnam, it is unclear how the two share costs and revenues, and what conditions have been set for use of the Trump franchise. — Reuters
The Star
14-05-2025
- Politics
- The Star
Warisan criticises GRS for failing to address poverty and waste in Sabah
KOTA KINABALU: Despite tabling a record-breaking RM6.4bil budget for 2025, the Gabungan Rakyat Sabah government has come under fire for failing to address worsening poverty, unemployment, and infrastructure issues in the state. Parti Warisan president Datuk Seri Mohd Shafie Apdal ( pic ) criticised the government for making big promises without delivering real change to the people. "Sabah is still the poorest state in Malaysia. Eight of the ten poorest districts in the country are here," he said in a statement on Wednesday (May 11). Shafie warned that the state's budget might not hold up as it relies too heavily on oil revenue, projecting earnings based on a US$76 per-barrel price, while the current price is about US$60. "If it stays that low, Sabah could lose hundreds of millions of ringgit. If that happens, what is GRS going to do? How will they ensure there is still money for schools, clinics, and roads in rural areas?" he asked. He said that unemployment in Sabah remained high, with a rate of 7.9% at the end of 2024, the worst in the country, affecting more than 170,000 people. "Even those with jobs are earning very low wages. Half of Sabah's workers take home less than RM2,000 a month," he added. Shafie highlighted the rising cost of food and its impact on families, especially children, stressing that one in four children in Sabah under the age of five is stunted due to poor nutrition and healthcare. He questioned the allocation of government funds, asking, "Is it really being used to help the people, or is it being wasted or taken by others?" Shafie also addressed recent corruption cases, including a school principal allegedly making false claims for RM85,000 and two officers suspected of taking bribes worth over RM600,000. He described the education system in Sabah as broken, with many teachers afraid to speak up. He criticised the GRS government for excessive spending on events, banners, and lucky draws to appear popular. "Millions are spent on publicity, while our roads are full of potholes, the electricity keeps going out, and prices keep going up. People are suffering. "This is not real progress; it is a failure of planning and leadership. The people of Sabah deserve better," he stressed. Shafie said Warisan aims to work with the people to build a better future, stating, "We want a government that is responsible, honest, and puts Sabahans first."
