logo
Pengkalan Kubor ferry fees validation bill tabled in Dewan Rakyat

Pengkalan Kubor ferry fees validation bill tabled in Dewan Rakyat

The Suna day ago
KUALA LUMPUR: The Fees (Pengkalan Kubor Ferry) (Validation) Bill 2025 was tabled for its first reading in the Dewan Rakyat today. The bill aims to validate the collection of ferry service fees between Pengkalan Kubor in Malaysia and Takbai in Thailand.
Minister of Works Datuk Seri Alexander Nanta Linggi confirmed that the second and third readings will follow during the current parliamentary session. The bill covers fees collected by the Public Works Department from January 1, 1999, to December 31, 2024, which were deposited into the Consolidated Fund.
Additionally, the bill provides legal protection, stating that no legal action can be taken against the Malaysian government or its officers regarding the fees collected during the specified period. - Bernama
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Elevated Volatility Anticipated For USD, MYR Pair
Elevated Volatility Anticipated For USD, MYR Pair

BusinessToday

time3 hours ago

  • BusinessToday

Elevated Volatility Anticipated For USD, MYR Pair

The Malaysian ringgit has displayed unexpected strength this week, hovering around the 4.22-4.23 mark against the US dollar as the Dollar Index (DXY) slipped below 98.0. This performance comes amidst shifting global currency dynamics and anticipation surrounding crucial trade negotiations. The US dollar faced downward pressure early in the week without a clear immediate catalyst. However, a stronger Euro, bolstered by defensive reallocations ahead of the August 1 deadline for potential US-EU tariffs, appears to have driven the greenback's weakness. Markets seem to be favoring the Euro in light of these trade uncertainties. Concurrently, the Japanese Yen also gained ground following a newly inked US-Japan trade agreement, further contributing to the US dollar's softening. These movements provided a tailwind for risk assets, prompting a rotation of investments from the US into emerging markets. From a data perspective, the US labour market remains firm, contrasting with emerging signs of weakness in housing data. Ahead of the Federal Reserve's upcoming policy decision – where a no-change in interest rates is widely expected – market attention will be fixed on key economic reports. These include the JOLTS (Job Openings and Labor Turnover Survey) report, ADP private sector jobs data, and the advance Q2 2025 GDP reading. A string of positive surprises from these indicators could reignite hawkish Federal Reserve expectations, potentially strengthening the US dollar. The outcome of the US-EU tariff deal, along with other pending negotiations, will also be closely watched in the run-up to Friday's deadline. Outlook for the Ringgit Kenanga Research indicates that softer US data will be necessary to support their call for a September Fed rate cut. For now, the consensus points towards a resilient US economy. A favorable US-EU trade deal is expected to further support the Euro and overall risk sentiment globally. For the Malaysian ringgit, a significant near-term risk remains the ongoing trade talks with the US. As Minister of Investment, Trade, and Industry Tengku Zafrul Abdul Aziz recently confirmed, negotiations are intensifying to reduce an impending 25% US import tariff to below 20% before the August 1 deadline. A 'no-deal' outcome from these discussions could exert considerable downward pressure on the ringgit. Given the data-heavy week and the politically sensitive trade negotiations, currency analysts expect elevated volatility for the USD/MYR pair, anticipating it to trade within the 4.20–4.25 range. Technically, the USD/MYR is currently anchored near its 5-day Exponential Moving Average (EMA) at 4.23, with immediate support at 4.22 and resistance at 4.23. Related

Cambodia PM agrees to ceasefire proposed by Anwar
Cambodia PM agrees to ceasefire proposed by Anwar

New Straits Times

time4 hours ago

  • New Straits Times

Cambodia PM agrees to ceasefire proposed by Anwar

PHNOM PENH: Cambodian Prime Minister Hun Manet has agreed to the ceasefire proposal with Thailand suggested by Malaysian Prime Minister Datuk Seri Anwar Ibrahim. In a Facebook post today, Manet said he agreed to the ceasefire because Cambodia did not initiate the fighting. "The key to resolving the current armed conflict between Thailand and Cambodia is the genuine willingness of the Thai side to accept a ceasefire, which is the first step towards finding further solutions between the two countries," Manet said in his posting. Manet clarified that there was unclear reporting by various international media regarding the proposed ceasefire talks initiated by Anwar, the current Asean chair. Manet said he only agreed to the ceasefire after hearing from Anwar that Thailand's acting Prime Minister, Phumtham Wechayachai, agreed to peace talks. But regrettably, the Thai side changed their position on the issue, he said in his posting. "However, it is regrettable that just over an hour later, the Thai side informed that they had reversed their position from agreeing to the ceasefire," said Manet. Anwar said he spoke to both prime ministers on resolving the ongoing conflict on Thursday. The border conflict between Cambodia and Thailand escalated after soldiers from both sides engaged in a clash on Thursday morning along the Oddar Meanchey and Preah Vihear areas. The two neighbours have been quarrelling over an 817-km undemarcated border for decades, which has harmed diplomatic ties. - Bernama

Thailand open to ceasefire but seeks clarification from Cambodia
Thailand open to ceasefire but seeks clarification from Cambodia

New Straits Times

time4 hours ago

  • New Straits Times

Thailand open to ceasefire but seeks clarification from Cambodia

BANGKOK: Thailand has no objection to a ceasefire in its ongoing border clashes with Cambodia but is seeking greater clarity on the terms, acting Prime Minister Phumtham Wechayachai said Friday. Phumtham, who is also Interior Minister, said he spoke with Malaysian Prime Minister Datuk Seri Anwar Ibrahim, who called on Thursday evening and has offered to act as a mediator for a ceasefire between Thailand and Cambodia. Thailand, he said, agrees in principle with the offer but stressed that Cambodia must first demonstrate a clear and sincere commitment. "We have no objection, but for a ceasefire to happen, there must be clarity. We've been trying to achieve this all along, but to no avail," Phumtham said at a press conference on the Thailand-Cambodia border situation on Friday. He revealed that he had asked Anwar to ensure there is a concrete commitment and guarantees that similar incidents would not recur. "Only then can we consider the next steps. For now, our military remains on high alert," he said. On Thursday, Anwar in his capacity as current Asean Chair has called Phumtham and Cambodian Premier Hun Manet, appealing to them for an immediate ceasefire and return to peaceful dialogue to resolve the ongoing border dispute. Anwar said Malaysia stands ready to assist and facilitate this process in the spirit of Asean unity and shared responsibility. Thai and Cambodian forces clashed early Thursday in a disputed border area, with both sides accusing each other of initiating the latest round of violence. The latest round of hostility followed a skirmish between troops of the two countries near the Preah Vihear area on May 28. A Cambodian soldier was killed in the shootout. The two neighbouring countries have been locked in recurring diplomatic spats over a long-standing border dispute. - Bernama

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store