Latest news with #RM80
The Sun
13 hours ago
- Business
- The Sun
YaPEIM allocates RM4m for 50 homes for underprivileged
KEPALA BATAS: The Yayasan Pembangunan Ekonomi Islam Malaysia (YaPEIM) has set a target to construct 50 homes this year for the underprivileged, with an allocation of RM4 million under its Sinar Lestari YaPEIM initiative. Minister in the Prime Minister's Department (Religious Affairs) Datuk Dr Mohd Na'im Mokhtar said each housing unit, costing approximately RM80,000, will be built in collaboration with strategic partners for the B40 group and recipients listed under the e-Kasih database, to provide them with safer and more comfortable homes. 'The Sinar Lestari YaPEIM, launched in 2020, has so far allocated RM13.5 million for 293 new construction and renovation projects nationwide as of June this year,' he added. 'A total of 167 renovation projects and 126 new construction projects have been implemented, with 225 projects completed while 68 are still in progress. Specifically, in Penang, YaPEIM has undertaken nine projects, comprising five new builds and four renovations, amounting to RM460,000,' he said. He said this after officiating the Sinar Lestari YaPEIM programme in Penaga, where three families received assistance to build new homes during the event. Mohd Na'im said the assistance provided under the initiative was not merely about building comfortable homes but also symbolised the MADANI Government's commitment to fostering a caring society and ensuring that no underprivileged group is left behind. Meanwhile, a recipient of the new house, Tahir Suhid, 55, expressed his family's gratitude and joy for receiving the housing aid. He shared that for more than 15 years, they had been renting a home on Jalan Pasir Gebu here, as they could not afford to own one. Tahir, who was previously a fisherman, has not gone to sea for over two years and now helps his wife, Norlia Aziz, 45, who runs a small business. He said he first purchased a plot of land through an installment plan before applying for YaPEIM's assistance to build a house on his own land. 'Our family is truly grateful to YaPEIM for this support. This house means a great deal to me, my wife, and our five children, aged between six and 25. Three of them are still in school,' he said. - Bernama
Barnama
14 hours ago
- Business
- Barnama
YaPEIM Allocates RM4 Million To Build 50 Homes For Underpriviliged - Mohd Nai'im
KEPALA BATAS, July 23 (Bernama) -- The Yayasan Pembangunan Ekonomi Islam Malaysia (YaPEIM) has set a target to construct 50 homes this year for the underprivileged, with an allocation of RM4 million under its Sinar Lestari YaPEIM initiative. Minister in the Prime Minister's Department (Religious Affairs) Datuk Dr Mohd Na'im Mokhtar said each housing unit, costing approximately RM80,000, will be built in collaboration with strategic partners for the B40 group and recipients listed under the e-Kasih database, to provide them with safer and more comfortable homes. 'The Sinar Lestari YaPEIM, launched in 2020, has so far allocated RM13.5 million for 293 new construction and renovation projects nationwide as of June this year,' he added. 'A total of 167 renovation projects and 126 new construction projects have been implemented, with 225 projects completed while 68 are still in progress. Specifically, in Penang, YaPEIM has undertaken nine projects, comprising five new builds and four renovations, amounting to RM460,000,' he said. He said this after officiating the Sinar Lestari YaPEIM programme in Penaga, where three families received assistance to build new homes during the event. Mohd Na'im said the assistance provided under the initiative was not merely about building comfortable homes but also symbolised the MADANI Government's commitment to fostering a caring society and ensuring that no underprivileged group is left behind. Meanwhile, a recipient of the new house, Tahir Suhid, 55, expressed his family's gratitude and joy for receiving the housing aid. He shared that for more than 15 years, they had been renting a home on Jalan Pasir Gebu here, as they could not afford to own one. Tahir, who was previously a fisherman, has not gone to sea for over two years and now helps his wife, Norlia Aziz, 45, who runs a small business. He said he first purchased a plot of land through an installment plan before applying for YaPEIM's assistance to build a house on his own land. 'Our family is truly grateful to YaPEIM for this support. This house means a great deal to me, my wife, and our five children, aged between six and 25. Three of them are still in school,' he said.
The Star
2 days ago
- Health
- The Star
RM50,000 target reached for teen's heart surgery
MALAYSIANS have once again shown their generosity by helping to raise more than RM50,000 for Chiet Ailai (pic), a 15-year-old boy from Sik, Kedah, in urgent need of heart surgery. Star Foundation, which launched an initiative under its Medical Fund Programme to raise the needed funds, has ended the fundraising drive initiated for him. Chiet was diagnosed with severe supravalvular neo-aortic stenosis and requires life-saving surgery at National Heart Insitute (IJN). Star Foundation's fundraising initiative to raise RM50,000 for life-saving heart surgery for Chiet Ailai, 15. The total cost of the procedure is RM80,000, with RM30,000 secured from One Hope Charity and Welfare, a non-profit organisation. Thanks to the public's swift support, the fundraising target has been met, and even surpassed. In a media statement, Star Foundation said the surplus funds would go towards helping the next eligible patient under the foundation's Medical Fund Programme. 'Donors who wish to obtain a tax exemption receipt are encouraged to complete the Medical Fund donation form on the Star Foundation's website,' it added. Star Foundation is the charitable arm of Star Media Group. Since 2016, the foundation has supported underprivileged individuals by funding critical medical treatment and care. Visit to learn more, or email starfoundation@
New Straits Times
2 days ago
- Business
- New Straits Times
Maybank issues Southeast Asia's first sustainability-linked loan to MNC
KUALA LUMPUR: Malayan Banking Bhd (Maybank) has become the first commercial bank in Malaysia and Southeast Asia to issue a sustainability-linked loan (SLL) amounting to US$150 million to Austria Technologie & Systemtechnik Malaysia (AT&S Malaysia). The landmark transaction marks the first such facility by a local lender to a multinational company in Malaysia's semiconductor sector, Maybank said in a joint statement with ATS recently. "This deal follows a US$250 million loan provided to AT&S Malaysia by International Finance Corporation (IFC) in March 2025 and concludes the parallel loan arranged by IFC under the same agreement," it said. The financing will support the development of AT&S' first high-end IC substrate plant in Kulim Hi-Tech Park, Malaysia. This will include state-of-the-art equipment and closed-loop recycling systems, adhering to AT&S' comprehensive sustainable energy framework. The companies said the facility will produce advanced IC substrates, essential components to meet surging demand for high-performance data processors, data centres, and AI infrastructure. "With over US$1 billion committed to Malaysia, this represents AT&S Group's largest initial investment," they added. The targets attached to the SLL include reducing annual greenhouse gas emissions by 31 per cent by March 31, 2028, using fiscal year 2022 as the baseline. Maybank global banking group chief executive officer Datuk John Chong said the financing aligns with its strategic focus on the semiconductor ecosystem in Southeast Asia. Chong said the SLL structure also strengthens the group's commitment to mobilising sustainable finance and powering the region's green transition. "This transaction is also a reaffirmation of our growing collaboration with the International Finance Corporation," he added. From 2021 to the end of the first quarter of 2025, Maybank mobilised RM125.46 billion in sustainable finance across Asean, surpassing its RM80 billion target by this year.
New Straits Times
3 days ago
- Business
- New Straits Times
Why Malaysia's debt isn't the problem but misunderstanding it is
IN Kuala Lumpur, a quiet yet consequential shift is taking place in how Malaysia talks about its national debt. After years of loud warnings and political alarmism - much of it framed in simplistic terms about trillions of ringgit and looming bankruptcy - the government is beginning to reframe the conversation. And it's about time. Recently, Prime Minister Anwar Ibrahim made headlines by pointing out that Malaysia's new annual borrowings are actually on a declining path: RM100 billion in 2022, RM90 billion in 2023, RM85 billion in 2024 and a projected RM80 billion in 2025. To some, this might sound like spin. After all, total debt is still rising. But that misses the point. What the Prime Minister is signaling, without perhaps saying it directly—is that fiscal management is not about avoiding debt; it's about managing it smartly over time, especially in a country that has neither a retirement age, nor an expiry date. Too often, government debt is misunderstood through the lens of personal finance. The average Malaysian is familiar with home loans, car loans, and credit card debt, and when they hear that national debt has crossed RM1.25 trillion, the instinct is to panic. But a country isn't a household. It doesn't die. It doesn't retire. In fact, if managed well, a nation grows more productive and wealthier over time. That's why all modern economies carry debt - not as a sign of recklessness, but as a tool for strategic investment and long-term growth. What's dangerous isn't the size of Malaysia's debt in ringgit - it's how that number is politicised, decontextualised and misread. Remember the political storm a few years ago when critics claimed the country was heading toward bankruptcy at RM686 billion? That narrative has not stood the test of time because it was never grounded in fiscal reality to begin with. What matters more than any absolute number is Malaysia's deb-tto-GDP ratio, a metric that captures not just what is owed, but how well the country can pay it back. The post-pandemic fiscal landscape makes this all the more urgent. Like every nation, Malaysia took on extraordinary debt during the Covid-19 crisis to keep the economy alive and people afloat. Between 2009 and 2019, new borrowings averaged RM44 billion a year. By 2022, that number surged to RM100 billion. The government did what it had to do. Now, as the storm clouds begin to lift, the real work begins, not to slash debt overnight which would stall the recovery but to steer it gradually toward sustainability. This is where the Prime Minister's signal matters. Reducing new borrowings year by year is a prudent strategy, not a gimmick. It's like shifting down gears on a winding mountain road - slow, steady, and controlled. But even smart strategies need clear goals. That's why some economists are calling on Putrajaya to go one step further: announce a formal debt-to-GDP target and a timeline to get there. Better yet, pass the long-awaited Fiscal Responsibility Act to anchor future decisions in law, not just politics. According to Tan Sri Professor Noor Azlan Ghazali, who heads the Malaysian Inclusive Development and Advancement Institute (Minda-UKM), if Malaysia can maintain annual GDP growth of 5.0 per cent while reducing new borrowings by five per cent each year, projections show its debt-to-GDP ratio could fall to 54.6 per cent by 2038. That's a number the rating agencies and foreign investors would take seriously. It also gives Malaysians something to hold their leaders accountable to. After all, without targets, fiscal policy becomes just another "maybe." Noor Azlan explains that there's a broader truth hiding in plain sight here: zero debt is not the goal. In fact, for a developing country trying to climb the technological and green energy ladders, zero debt is a trap. The real question is not whether Malaysia should borrow, but what it borrows for, how it pays it back, and whether it's building a future or just patching holes. What's needed now is a new kind of fiscal literacy, one that treats national debt less like a household budget and more like what it truly is: an economic steering wheel. That means recognising that even cough syrup, if taken all at once, can be toxic. Taken properly, in measured doses and with the right guidance, it heals. So here's the challenge: Can Malaysia manage its debt like a doctor would prescribe medicine carefully, deliberately and with an eye on the long-term prognosis? If it does, it just might turn today's fiscal anxiety into tomorrow's competitive edge. *The writer is an economist, adjunct lecturer at Universiti Teknologi Petronas, international relations analyst and senior consultant with Global Asia Consulting. The views expressed here are his own.
