Ambank Islamic Concludes Amrewards 4.0 Campaign With Prizes Worth RM3 Million
Mr. Tang Khai Chor from Tanjung Bungah branch came in second place taking home RM300,000 cash and Madam Lee Hwee Lan from Johor Bahru-Bukit Indah branch bagged a cash prize of RM100,000.
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Borneo Post
6 minutes ago
- Borneo Post
Tengku Zafrul urges companies to be indispensable, competitive globally to withstand tariffs
Tengku Zafrul says that among the strategies to be indispensable is for companies to invest in manufacturing overseas and make their products essential to other players. – Bernama photo KUALA LUMPUR (Aug 7): Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz has called on Malaysian firms, including small and medium enterprises (SME), to become indispensable and competitive globally to withstand tariffs and other trade barriers. Tengku Zafrul said businesses should persevere to become global champions and not depend solely on the domestic market. He said that among the strategies to be indispensable is for companies to invest in manufacturing overseas and make their products essential to other players. Furthermore, enterprises must adopt the latest technologies, be productive and efficient, as well as ensure their competitiveness is at par with global standards, Tengku Zafrul said during a fireside chat at the Asean Business Community Development (ABCD) Forum here today. The minister was commenting on a question about how Malaysian companies can prepare mentally and be ready to face challenges arising from the tariffs. 'In light of what is happening in the United States and the protective stance by other countries, it is important for Malaysian companies as well as those in Asean to 'go back to basics',' he said, alluding to Washington having imposed tariffs on numerous countries, including a 19 per cent tariff on Malaysia. He said that by being indispensable, 'whatever tariff they put in, or sanctions in terms of non-tariff barriers, would not affect the company. 'If your product is a necessity and if they are competitive enough, they will still buy. So we need to strengthen the companies that we have,' said Tengku Zafrul. To this end, he said that company owners, shareholders, entrepreneurs, and the chief executive officers who run the companies should ensure they are fundamentally ready to compete. He stressed the government's industrial master plan, the focus on green investments, and all the strategies that many agencies and ministries have announced are about 'strengthening our companies'. He said we need to increase, for example, the productivity rate of our SMEs, (and) we need to make sure they can compete globally. 'The recent numbers show that we are improving, as our world competitiveness ranking has improved. 'But when you look at the (recent) numbers on SME productivity in Malaysia, (we might) have fallen behind countries such as Vietnam and Thailand,' said Tengku Zafrul. Tengku Zafrul opined that a lack of global competitiveness and sole dependence on the Malaysian market would not create global champions. 'The market is becoming more competitive, and with tariffs, countries are becoming more protective. If we are not competitive and just rely on Malaysia as a market, we are in trouble,' he said. Depending on Malaysia as the sole market 'would not make us global champions,' he said. 'We need to be ready, you need to invest in technology, in research and development, talent, and you must make sure that you continue to be relevant,' he said. On free trade agreements (FTAs), Tengku Zafrul said the ministry's role is to ensure that companies, especially SMEs, understand how to tap into these FTAs and have access to these markets. 'We need to push the SMEs and make sure they are ready. This is (why) we need to move on and not be too dependent on just one market, but expand and create new opportunities by looking at new markets,' he added. – Bernama ABCD Forum asean economy SME Tengku Zafrul Abdul Aziz
The Sun
36 minutes ago
- The Sun
Special needs education prioritised in Budget 2026
BUKIT MERTAJAM: Empowering special needs education remains a key focus for the Ministry of Education under Budget 2026. Education Minister Fadhlina Sidek emphasised the government's commitment to inclusive education during a mock cheque presentation ceremony. She revealed that RM10 million was allocated under Budget 2025 to support private autism schools. 'This marks the first time such a special allocation has been made for autism and special needs institutions,' she said. The initiative reflects the MADANI Government's dedication to equitable education access. Twelve autism schools across Penang, Selangor, Perak, Kelantan, and Johor received financial aid during the event. Fadhlina stated that similar support programmes will continue to strengthen special needs education. The ministry is currently gathering feedback for Budget 2026, with special education as a top priority. 'We welcome suggestions to enhance educational opportunities for children with special needs,' she added. She also addressed Prime Minister Anwar Ibrahim's call for schools in large-scale housing projects. 'This aligns with our efforts to reduce classroom overcrowding and traffic congestion,' she explained. Anwar had stressed that housing projects with over 3,500 units must include schools and healthcare facilities. The directive aims to ensure better urban planning and accessibility for residents. - Bernama
The Sun
36 minutes ago
- The Sun
Malaysian firms must be indispensable to compete globally amid tariffs
KUALA LUMPUR: Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz has urged Malaysian businesses, including SMEs, to strengthen their global competitiveness to overcome trade barriers like tariffs. He emphasised the need for firms to become indispensable by expanding overseas and making their products essential in global supply chains. Speaking at the ASEAN Business Community Development Forum, Tengku Zafrul highlighted the importance of adopting advanced technology and improving efficiency. He noted that reliance solely on the domestic market would hinder Malaysia's ability to produce globally competitive firms. 'If your product is a necessity and competitive enough, tariffs won't stop buyers,' he said, referencing recent U.S. tariffs on Malaysian goods. Tengku Zafrul stressed that companies must invest in R&D, talent, and innovation to remain relevant in an increasingly protectionist global market. He pointed out that Malaysia's SME productivity lags behind regional peers like Vietnam and Thailand, urging immediate improvements. The minister also called for better utilisation of free trade agreements to access new markets and reduce dependency on a single economy. 'We must push SMEs to expand beyond Malaysia and seize new opportunities,' he added. - Bernama
