ஆசியான் மாநாட்டின் வழி உறவுகளை வலுவாக்கும் மலேசியா
Prime Minister Datuk Seri Anwar Ibrahim, leading the Malaysian delegation, delivers his speech during the ASEAN Leaders' Interface with representatives of the ASEAN Business Advisory Council (ASEAN-BAC), held in conjunction with the 46th ASEAN Summit at the Kuala Lumpur Convention Centre on May 26.
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New Straits Times
an hour ago
- New Straits Times
Prepare for aged nation status by strengthening 'care economy'
THE "care economy" encompasses a wide range of activities involved in caring for individuals and households, including tasks like childcare, eldercare, healthcare and domestic work. These efforts — often unpaid and carried out by women — are essential to economic and social well-being, yet they are frequently undervalued and excluded from official statistics. In Malaysia, women shoulder the majority of care responsibilities. A pre-Covid-19 pandemic study by the Khazanah Research Institute found that women performed 64 per cent more unpaid care work than men and often multitasked between chores and caregiving. Despite being a long-standing part of Malaysia society, the care economy remains largely informal, with low wages and low policy recognition. This under-recognition is concerning as Malaysia approaches a demographic shift. The country became an ageing nation in 2021, with seven per cent of its population aged 65 and older. By 2030, that figure is projected to reach 10 per cent. By 2044, Malaysia will become an "aged nation" with more than 15 per cent of its population in this age group. Increasing life expectancy — 72 for men and 77 for women — will further strain the care infrastructure, mirroring challenges seen in countries like Japan and Australia. The rise in elderly populations heightens the demand for healthcare, eldercare and welfare services. Without adequate policy reforms and strategic planning, this could result in significant economic strain, particularly on families who are often the primary caregivers. For instance, the lack of affordable childcare and eldercare services forces many women to exit the workforce prematurely, limiting their economic potential and further widening gender inequality. To address these challenges, Selangor introduced the Selangor Care Economy Policy in November 2024 — the first of its kind in Malaysia — covering elderly care, childcare, disability support and the empowerment of formal and informal caregivers. Additionally, the federal government has announced plans under the 2025 Budget to introduce targeted subsidies and tax reforms aimed at reducing fiscal deficits and reallocating resources for essential services, including care economy initiatives. Such fiscal policies are expected to strengthen the support system for caregivers and improve the affordability of care services. The care economy also plays a critical role in addressing broader societal inequalities. By providing affordable and accessible care services, more women can participate in the workforce. This, in turn, contributes to the country's economic growth and reduces the financial pressures on families. Recognising and formalising the care economy would also ensure better working conditions and fair wages for care workers. In this context, the Madani policy framework, envisioned by Prime Minister Datuk Seri Anwar Ibrahim, provides a sustainable foundation for solutions. The six pillars of Madani — sustainability, prosperity, innovation, respect, trust and compassion — offer a holistic approach to tackling issues within the care economy. The compassion pillar, in particular, promotes empathy and proactive solutions for societal needs. The private sector and non-governmental organisations (NGOs) also play a crucial role in strengthening the care economy. Social enterprise models can be adopted to encourage private sector involvement in supporting care workers. Additionally, frameworks such as environmental, social and governance can be utilised to evaluate the private sector's contributions to the care economy. NGOs can serve as vital intermediaries by offering community-based support programmes, advocacy for caregivers' rights and training opportunities. Collaborative efforts between the government, private sector and NGOs can help bridge the gaps in existing care services, ensuring they are inclusive, accessible and equitable. The care economy is a vital pillar for societal welfare and the country's economic development. Recognising and strengthening this sector is essential to ensuring Malaysia is prepared to meet the challenges of its aged nation status.
The Star
2 hours ago
- The Star
Asean Chair arrives: Malaysian PM to mediate Thai-border dispute
BANGKOK: The chairman of Asean, Malaysian Prime Minister Anwar Ibrahim, has arrived in Bangkok for urgent discussions with his Thai counterpart, Prime Minister Paetongtarn Shinawatra, regarding the ongoing border dispute between Thailand and Cambodia. The discussions precede a crucial meeting of the Cambodia-Thailand Joint Boundary Commission (JBC) later this month. Malaysian media outlet, The Edge, on Friday (June 6) quoted Prime Minister Anwar stating his intention to engage in direct talks with Paetongtarn on the contentious border issue. Malaysia, in its capacity as the current Asean Chair, is understood to be closely monitoring developments. Speaking to the press, the Malaysian leader confirmed that an official statement detailing the outcomes of his discussions with Prime Minister Paetongtarn would be released once talks have concluded. Anwar's intervention follows a recent armed confrontation between Thai and Cambodian soldiers on May 28 in the contested Emerald Triangle area, a tri-border region shared by Cambodia, Thailand, and Laos. The skirmish tragically resulted in the death of one Cambodian soldier. The Cambodia-Thailand Joint Boundary Commission (JBC) is scheduled to convene in Phnom Penh on June 14 to address the persistent border problems. - The Nation/ANN
The Sun
2 hours ago
- The Sun
iCents Group signs IPO underwriting agreement with Alliance Islamic Bank
KUALA LUMPUR: Cleanroom and facility services provider iCents Group Holdings Bhd has inked an underwriting agreement with Alliance Islamic Bank Bhd in conjunction with its initial public offering (IPO) en route to a listing on the ACE Market of Bursa Malaysia by July. It said in a statement the IPO encompasses a public issuance of 112.5 million new ordinary shares, representing 22.5% of its enlarged issued share capital, as well as an offer for sale of 30 million existing shares, representing 6% of its enlarged issued share capital. 'Out of the 112.5 million issue shares, 25 million shares will be made available to the Malaysian public via balloting, with 10 million shares to its eligible directors, employees and persons who have contributed to the success of the group, 15 million shares will be made available by way of private placement to selected investors, while 62.5 million shares will be made available by way of private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry,' it said. Additionally, 30 million offer shares will be for selected investors by way of private placement. Group managing director Ong Mum Fei said the signing of the underwriting agreement with Alliance Islamic Bank would provide the company with the financial resources and flexibility needed to accelerate its strategic growth plans. 'As we expand our capabilities, we are committed to enhancing our competitive position within Malaysia's cleanroom industry, as well as executing our geographical market expansion plans in Indonesia, Singapore and Sarawak, through the IPO proceeds,' he said. Meanwhile, executive director Foo Siang Leng said the outlook of the cleanroom industry is positive, supported by steady growth in the semiconductor and electronics, data centre, pharmaceutical and food and beverage sectors, alongside the initiatives under Malaysia's New Industrial Master Plan 2030. 'We aim to capitalise on these opportunities through our growing involvement in these key industries by expanding our operational capabilities, expanding market reach and broadening our product range and addressable markets,' he said. – Bernama
