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Rafizi questions Cabinet's ‘reactionary' move to restructure 13th Malaysia Plan, says rushed changes undermine civil servants' work

Rafizi questions Cabinet's ‘reactionary' move to restructure 13th Malaysia Plan, says rushed changes undermine civil servants' work

Yahoo27-06-2025
PUTRAJAYA, June 27 – Economy Minister Rafizi Ramli has expressed concern over the government's move to revise and restructure the 13th Malaysia Plan (13MP), warning that the last-minute decision could undermine public confidence in the national policy document.
Responding to a statement by Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar, Rafizi said he was worried that this is a knee-jerk reaction towards public brickbats towards Communications Minister Datuk Fahmi Fadzil.
'I worry that the government is being reactionary, merely in response to a few recent social media replies directed at Communications Minister Datuk Fahmi Fadzil regarding 13MP.
'Some netizens discussed 13MP and replied to his comments, which appeared to downplay or erase my involvement in the preparation of the document,' he said in a statement here.
Rafizi warned that the announcement to 'revise and restructure' 13MP has raised concern among civil servants, market analysts monitoring national policy, and the public at large.
The Pandan MP noted that the 13MP was developed solely by civil servants, without the involvement of external consultants, in under a year – making it the fastest-prepared Malaysia Plan to date.
With only two weeks remaining before the final draft is sent for printing, Rafizi questioned if the restructuring would be rushed and whether it would bypass the consultative process with stakeholders and experts.
He also warned that politicising the 13MP would do a disservice to the thousands of civil servants who worked on it and could erode public trust in the final document.
'If that happens, it would be a grave injustice to those who have worked tirelessly — often for over 12 hours a day — over the past year,' he said.
He stressed that the Malaysia Plan serves as a binding framework for national policies and programmes over five years, typically developed through a non-political and rigorous process.
Rafizi explained that 13MP's preparation had involved a bottom-up approach through the Inter Agency Planning Group, Technical Working Groups, and engagement sessions with state governments, industry players, and MPs between September and December 2024.
Simultaneously, a top-down approach was conducted by the Ministry of Economy and policy experts to develop structural reform proposals, which were deliberated with the Prime Minister and a Special Cabinet Committee from February to April this year.
Earlier, Chief Secretary to the Government and Cabinet Secretary Tan Sri Shamsul Azri Abu Bakar said Second Finance Minister Datuk Seri Amir Hamzah Azizan has been tasked with carrying out the duties and functions of the Economy Minister with immediate effect — beginning with revising the 13MP for the July Parliamentary session.
On May 28, Rafizi had announced his resignation from the post of economy minister, following a defeat for the deputy president post in the recent PKR party elections.
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NusaTrip Incorporated Announces Closing of Initial Public Offering
NusaTrip Incorporated Announces Closing of Initial Public Offering

Associated Press

time32 minutes ago

  • Associated Press

NusaTrip Incorporated Announces Closing of Initial Public Offering

Jakarta, Indonesia, Aug. 18, 2025 (GLOBE NEWSWIRE) -- NusaTrip Incorporated ('NusaTrip,' 'NUTR' or the 'Company'), a travel ecosystem with geographical specialization in Southeast Asia and Asia-Pacific, today announced the closing of its previously announced initial public offering of an aggregate 3,750,000 shares of Common Stock ('the Offering') at a price of $4.00 per share ('the Offering Price') to the public, for a total of $15.0 million of gross proceeds to the Company, before deducting underwriting discounts and offering expenses. NusaTrip intends to use net proceeds from the Offering for expansion into new markets, merger and acquisition initiatives, and working capital and other general corporate purposes. The shares began trading on the Nasdaq Capital Market on August 15, 2025, under the symbol 'NUTR.' Cathay Securities, Inc. acted as the sole underwriter for the Offering. Loeb & Loeb LLP acted as U.S. legal counsel to the Company, and VCL Law LLP acted as U.S. legal counsel to Cathay Securities, Inc. 'We are gratified to close this Offering,' said NusaTrip CEO Tjin Patrick Soetanto. 'There's never been a better time to be in the online travel market in Southeast Asia. With SEA's disposable income and internet penetration booming, we believe the future is quite bright for our sector. And, with the strategic and technological advantages we hold over the majority of our peers, we think the next few years will feature significant growth for our Company.' Mr. Soetanto added that several independent research studies have concurred that Southeast Asia's online travel market is likely to grow strongly in the next several years. One such study, published in November 2024 by Statista, projected that this market would grow from a value of US$46 billion in 2024 to US$79 billion by 2030, a CAGR of 9.4%. Raynauld Liang, the CEO of Society Pass, the controlling shareholder of NusaTrip Incorporated, stated, 'We decided in 2024 to spin off NusaTrip as a public company because we saw its potential to achieve accelerated growth in an online travel market that was growing strongly in our region as well as across the Asia Pacific. Today, we're even more convinced that NusaTrip can and will achieve this goal.' The Offering was conducted pursuant to the Company's registration statement on Form S-1 (Registration No. 333-285997), as amended, previously filed with and subsequently declared effective by the U.S. Securities and Exchange Commission ('SEC') on August 8, 2025. This offering was made only by means of a prospectus forming part of the effective registration statement. A copy of the final prospectus relating to this offering, when available, may be obtained for free by visiting EDGAR on the SEC's website at Alternatively, a copy of the final prospectus relating to this offering, when available, may be obtained from Cathay Securities, Inc. at 40 Wall Street, Suite 3600, New York, NY 10005, or by telephone at 1-855-939-3888. Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering. This press release has been prepared for informational purposes only and shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About NusaTrip Incorporated Established in 2015 and headquartered in Jakarta, Indonesia, NusaTrip Incorporated is a travel ecosystem with geographical specialization in Southeast Asia (SEA) and Asia-Pacific (APAC). NusaTrip is an acquisitions-focused company. Mergers and acquisitions of offline travel agencies play a pivotal role in our growth strategy. We have demonstrated an ability to execute accretive and synergistic acquisitions as well as integrate and fundamentally improve our acquired businesses. We have completed acquisitions of VLeisure and VIT, both travel companies in Vietnam. We will continue to focus on the acquisition of other synergistic companies, and we are currently looking to acquire travel agencies operating in PRC, Hong Kong, Philippines, Thailand, Singapore, Malaysia, India, and UAE. We aim to bring travelers from the rest of the world to SEA and APAC (inbound travel) and bring travelers from SEA and APAC to the rest world (outbound travel). We are the first Indonesian-based online travel agent (OTA) in Indonesia to receive International Air Transport Association (IATA) accreditation. IATA gives OTA's access to all airline fares and inventories. For being the first IATA-accredited OTA in Indonesia, we have first-hand fares from both full-service and low-cost carriers. Please visit the Company's website at: Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding the completion and timing of closing of the offering and the intended use of the proceeds. You can identify forward-looking statements by the fact that they do not relate strictly to historical or current facts. These statements may include words such as 'anticipate', 'estimate', 'expect', 'project', 'plan', 'intend', 'believe', 'may', 'will', 'should', 'can have', 'likely' and other words and terms of similar meaning. Forward-looking statements represent NusaTrip Incorporated's current expectations regarding future events and are subject to known and unknown risks and uncertainties that could cause actual results to differ materially from those implied by the forward-looking statements. Among those risks and uncertainties are market conditions, including the trading price and volatility of NusaTrip Incorporated's common stock and risks relating to NusaTrip Incorporated's business and the satisfaction of closing conditions in the underwriting agreement related to the offering. For a further description of the risks and uncertainties relating to NusaTrip Incorporated's business in general, see the final prospectus related to the Offering and NusaTrip Incorporated's current and future reports filed with the SEC. Contact Information: NusaTrip Incorporated Tjin Patrick Soetanto Chief Executive Officer [email protected] Yee Siong Tan Chief Financial Officer [email protected] Skyline Corporate Communications Group, LLC Scott Powell, President 1177 Avenue of the Americas, 5th Floor New York, New York 10036 Office: (646) 893-5835 x2 Email: [email protected]

Odyssey Math Tuition Eyes Expansion via Franchise Model in 2026 Amid Singapore's Booming Tuition Industry
Odyssey Math Tuition Eyes Expansion via Franchise Model in 2026 Amid Singapore's Booming Tuition Industry

Associated Press

time4 hours ago

  • Associated Press

Odyssey Math Tuition Eyes Expansion via Franchise Model in 2026 Amid Singapore's Booming Tuition Industry

Odyssey Math Tuition announces 2026 franchise expansion in Singapore's S$1.8B tuition industry, leveraging proprietary math tuition curriculum and 24/7 e-learning for ethical, affordable math education amid challenges like price, inequality, and aggressive marketing. Singapore, August 18, 2025 -- Odyssey Math Tuition (OMT), a leading provider of specialized math education in Singapore, today announced plans to expand through a franchise model starting in 2026. This strategic move comes as Singapore's private tuition sector reaches new heights, with families spending S$1.8 billion on tuition in 2023—a 30% increase from S$1.4 billion in 2018—driven by intense academic competition and parental desires for an edge in subjects like mathematics. Private Tution Industry In Singapore The tuition industry in Singapore continues to thrive despite efforts by the Ministry of Education (MOE) to reduce academic pressure through reforms like the removal of mid-year exams and a new PSLE scoring system. However, with 70% of households enrolling children in tuition and average monthly spending rising to S$104.80 per household in 2023 (up from S$88.40 in 2017-2018), the Singapore tuition market shows no signs of slowing. Parents are increasingly turning to external support for core subjects like math, motivated by competition and the 'kiasu' mindset, though this boom raises concerns about social inequality, student stress, and over-reliance on tutoring. Industry challenges include aggressive marketing tactics—such as fear-based ads warning of exam difficulties—and calls for a MOE code of conduct to curb unethical practices like selective enrollment or exaggerated success claims. Odyssey Math Tuition's Plans To Scale in 2026 Odyssey Math Tuition's franchise model will leverage its proprietary math tuition curriculum, small group classes (around 8 students), and 24/7 online math e-learning platform to offer franchisees a turnkey operation with comprehensive support, including math tutor training, marketing guidance, and access to AI-integrated resources. The custom and proprietary math curriculum, developed and refined by Mr. Justin Tan over more than 10 years, complements the MOE's math syllabus by focusing on deep understanding of concepts through relatable explanations, practice questions, quizzes, and crash courses. The e-learning system provides unlimited 24/7 access, enabling students to learn at their own pace with video lessons, worksheets, progress tracking, and personalized feedback—available as a standalone option to make quality math education more affordable and accessible for families. Complementing this is Odyssey Math TV, a free video collection platform offering self-paced tutorials on O-Level and A-Level math exam papers, ensuring high-quality math tuition resources reach every student without barriers, as emphasized by Odyssey Math Tuition's commitment: 'We believe that education should not be exclusive. With your support, we hope to continue providing high quality math videos to every student.' The expansion builds on OMT's ongoing growth, including a new physical center opening in September 2025 and standalone e-learning courses later that year, positioning the brand to capture a share of the market's 10-20% annual growth. Initial investments are projected to start at S$68,000-145,000, aligning with industry benchmarks for education franchises, with potential for recurring revenue through membership models and high ROI through ethical, sustainable practices. In line with calls for industry reform, Odyssey Math Tuition's franchises will proactively adhere to ethical standards, avoiding fear-based marketing and selective enrollment. Instead, the business model emphasizes transparency, inclusivity for all ability levels, and a focus on student well-being. 'With Singapore's tuition industry evolving rapidly, we're excited to franchise OMT in 2026 to empower more educators and families,' said Mr. Justin Tan, Founder and Principal Tutor at Odyssey Math Tuition. 'Our focus on deep math understanding, combined with ethical practices that prioritize student well-being over scare tactics, will help franchisees build sustainable businesses. 'By preparing students for AI-driven futures through critical thinking and adaptability, we're not just teaching math; we're fostering resilient lifelong learners.' Early adopters echo this vision. 'As a former teacher, the option of franchising with OMT allows me to focus on holistic math education without aggressive marketing—it's rewarding to see students thrive beyond grades,' said Ms. Elena Lim, a potential franchise partner. Parents like Mr. Rajesh Kumar add, 'OMT's approach has built my child's math confidence without the stress of other centers; expanding this model means more families can benefit.' Interested parties can register for updates at About Odyssey Math Tuition Odyssey Math Tuition Pte. Ltd., founded in 2013 by Mr. Justin Tan, is a premier math tuition center in Singapore dedicated to inspiring a love for mathematics and equipping students with strong foundations for academic and lifelong success. Led by Principal Math Tutor Mr. Justin Tan, a National University of Singapore graduate with a double major in Math and Economics (Distinction) and over 13 years of experience in O- and A-Level mathematics, the center offers comprehensive tuition programs across Primary, Secondary, and Junior College levels. Emphasizing small group classes for personalized attention, a proprietary curriculum focused on deep understanding over rote memorization, and a 24/7 unlimited e-learning system with video lessons, worksheets, quizzes, and progress tracking, Odyssey Math Tuition fosters independent thinkers, critical problem-solvers, and resilient learners in a supportive environment. With a mission to transform students into 'math wizards' through engaging, technology-integrated education aligned with Singapore's evolving needs—including AI-driven skills—the center is set for expansion, including a new physical location opening in September 2025 and standalone e-learning courses launching later that year. For more information, visit or contact via WhatsApp at +65 8574 8255. Website: Media outlets are encouraged to share this announcement and explore its implications for ethical tuition practices. For franchise details, interviews with Mr. Justin Tan, or high-res images, contact us below. About the company: Odyssey Math Tuition Pte. Ltd., founded in 2013 by Mr. Justin Tan, is a premier math tuition center in Singapore dedicated to inspiring a love for mathematics and equipping students with strong foundations for academic and lifelong success. Led by Principal Math Tutor Mr. Justin Tan, a National University of Singapore graduate with a double major in Math and Economics (Distinction) and over 13 years of experience in O- and A-Level mathematics, the center offers comprehensive tuition programs across Primary, Secondary, and Junior College levels. Emphasizing small group classes for personalized attention, a proprietary curriculum focused on deep understanding over rote memorization, and a 24/7 unlimited e-learning system with video lessons, worksheets, quizzes, and progress tracking, Odyssey Math Tuition fosters independent thinkers, critical problem-solvers, and resilient learners in a supportive environment. With a mission to transform students into 'math wizards' through engaging, technology-integrated education aligned with Singapore's evolving needs—including AI-driven skills—the center is set for expansion, including a new physical location opening in September 2025 and standalone e-learning courses launching later that year. For more information, visit or contact via WhatsApp at +65 8574 8255. Contact Info: Name: Odyssey Math Tuition PR Team Email: Send Email Organization: Odyssey Math Tuition Pte. Ltd. Address: 160 Changi Rd, Singapore 419728 Phone: +65 8574 8255 Website: Video URL: Release ID: 89167573 Should you detect any errors, issues, or discrepancies with the content contained within this press release, or if you need assistance with a press release takedown, we kindly request that you inform us immediately by contacting [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our expert team will be available to promptly respond and take necessary steps within the next 8 hours to resolve any identified issues or guide you through the removal process. We value the trust placed in us by our readers and remain dedicated to providing accurate and reliable information.

The Entrepreneur Who Helped Redefine Mobile App Distribution in Southeast Asia
The Entrepreneur Who Helped Redefine Mobile App Distribution in Southeast Asia

Associated Press

time4 hours ago

  • Associated Press

The Entrepreneur Who Helped Redefine Mobile App Distribution in Southeast Asia

Calvin Cai, former NQ Mobile executive, founded Dofun Technology in 2015 and pioneered offline app distribution across Southeast Asia. By enabling local retailers to preload apps onto smartphones, Dofun reached millions of users, partnered with brands like ByteDance and Shopee, and built a vast monetization ecosystem. Cai's early innovations reshaped mobile access in emerging markets and continue to inform his leadership today in Agri-FinTech and AgTech. Before TikTok went global and before Google Play had total control in Southeast Asia, one Chinese founder quietly rewrote the rules of mobile app distribution — not with code, but with logistics. Calvin Cai, a former mobile executive at NYSE-listed NQ Mobile, launched Dofun Technology in 2015 with a deceptively simple idea: if many Southeast Asian users couldn't afford mobile data, and local phone retailers were struggling to add value, why not combine the two problems into one solution? The result was a bold bet on a hybrid model: offline app distribution via preloaded tools. The Rise of a Low-Bandwidth Empire While app developers across the world were focused on app stores, Dofun introduced a compact offline installer device to thousands of smartphone dealers across Indonesia, Vietnam, and Philippines. These dealers — often the last-mile point of sale — were now able to preload apps directly into phones before handing them to customers, saving consumers data charges and earning themselves commissions. 'It wasn't just about technology,' Cai explains. 'It was about understanding behavior — how people access the internet in low-bandwidth environments, and how trust is built at the local level.' Within a year, Dofun achieved over 6 million preloads, making it the largest app pre-installation player in the region. The company signed major advertising deals with ByteDance, Shopee, Cheetah Mobile, and Baidu, helping Chinese and local brands gain instant mobile presence in emerging markets. The Hidden Infrastructure of App Monetization At the heart of Dofun's growth was what Cai calls the 'shadow rail' of mobile: the infrastructure no one talks about, but everyone relies on. Dofun built a vast ecosystem of over 200+ distribution partners and 500+ ad networks, acting as a bridge between global advertisers, OEM phone makers, and last-mile retailers. 'We weren't building flashy front-ends,' Cai says. 'We were wiring the pipes of the mobile economy — in places where pipes didn't exist.' He also launched monetization apps like Cashify, which rewarded users for completing ad tasks, and built regional lending apps like Pinjiamee in Indonesia, earning a regulated license to operate in the P2P space. Dofun's innovations helped shape how mobile content reached tens of millions of users in emerging markets, long before TikTok and e-commerce giants saturated the region. Leadership Across Borders With a footprint across China, Indonesia, and the Philippines, Cai scaled his international team to over 130 employees — building what one investor called 'a culturally fluent company that understands scale and scrappiness equally.' He presented Dofun at the Global Mobile Internet Conference (GMIC) in 2017, becoming one of the earliest Chinese tech founders to bring frontier-market distribution to a global stage. Legacy and Lessons Though Dofun later evolved and Cai transitioned to other industries (including Agri-FinTech and AgTech), his early work in mobile distribution set the tone for how platforms and products can be localized beyond app stores. 'If you want to grow in markets like Southeast Asia, you have to work with friction, not around it,' Cai reflects. 'You build channels, not just clicks.' Today, as he leads Huida Tech's U.S. expansion in precision agriculture, Cai's earlier lessons in distribution, localization, and partnerships remain deeply relevant. In a world where digital infrastructure often feels invisible, Cai's early bet reminds us that the future is not just in apps — but in the hands that deliver them. Media Contact Company Name: Asian Creative Foundation Contact Person: Jemma Wu Email: Send Email City: New York State: New York Country: United States Website: Press Release Distributed by To view the original version on ABNewswire visit: The Entrepreneur Who Helped Redefine Mobile App Distribution in Southeast Asia

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