Mixed outlook ahead of BNM's rate announcement tomorrow
Although the overnight policy rate (OPR) is expected by many to stay at 3.0 percent, some economists see a possible 25 basis points (bps) cut by Bank Negara Malaysia as pre-emptive support against the potential downside risks of the American tariffs.
They believe that business sentiment has turned bearish despite Washington's 90-day pause on the 24 percent import levy on Malaysia, with industries operated by both big and small companies being affected.
Bank Muamalat Malaysia Bhd chief economist Afzanizam Abdul Rashid said the expectation of the rate cut is...
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Borneo Post
3 hours ago
- Borneo Post
Malaysia, China urged to build distinctive, competitive higher education system amid global shifts
Prof Yue Haiyang (fifth right), Frankie Liew (fourth right) with the USST delegates and SCCC members. KOTA KINABALU (June 11): Malaysia, China and Southeast Asian countries must work together to build a higher education system that possesses its own characteristics and international competitiveness, said Sabah China Chamber of Commerce (SCCC) president Datuk Frankie Liew. He said this system should cultivate future talents with a global outlook, rooted in their own culture and wisdom, to lead regional development. 'We must build our own educational confidence and cultural strength,' he emphasized during a recent dialogue with vice president of the University of Shanghai for Science and Technology (USST), Professor Yue Haiyang. Liew noted that the recent incident in the United States, where Harvard University revoked the visas of some international students, has sparked global concern about the freedom and inclusiveness of American education. This situation has made China and Southeast Asian countries realize more deeply that only by improving the quality of their own higher education and establishing independent academic systems and education brands can they ensure sustainable talent development. He believes that in the current global transformation of higher education — triggered by the US's increasing exclusion of international students — strengthening educational cooperation between Malaysia and China holds significant strategic importance. During a recent visit to Sabah, Prof Yue paid a special visit to the SCCC and held cordial and in-depth discussions with Liew and its members on the development of international education cooperation. Recently, USST and Universiti Malaysia Sabah (UMS) officially signed two memorandums of understanding (MOUs) to launch a short-term student exchange program between their respective business schools. Each university will select 50 students to participate in short-term academic programs at the partner institution. It is noted that USST had already begun initial exchanges last year, sending students to Sabah to experience the local academic and living environment, laying a strong foundation for this collaboration. Liew praised the cooperation between USST and UMS, noting that it would enhance academic exchanges and the sharing of research achievements in business and related fields. It will also deepen and broaden inter-university collaboration, and help raise the academic reputation and visibility of UMS on the international stage. He warmly welcomed USST's decision to partner with UMS. 'Sabah not only has a multicultural society, beautiful natural ecology, and a stable and safe social environment, but also increasingly developed higher education infrastructure and an internationalization strategy, making it an ideal platform for international education cooperation.' He believes that this partnership will help improve the quality of education and research at both universities and promote the development of Sabah's international education industry. According to statistics, the global education and training market is currently valued at around USD 7.5 trillion, and it is projected to grow at a compound annual growth rate of 6% to reach approximately USD 10 trillion by 2027. It is expected to continue to grow steadily over the next decade. 'Education is no longer just about cultivating talent — it has become an essential part of national strength and economic development,' Liew noted. He also expressed hope that USST and UMS will continue to expand their collaboration to include joint research, education and training programs, and the commercialization of research outcomes. Together, they can explore new areas and markets in higher education cooperation.
New Straits Times
4 hours ago
- New Straits Times
Mara, Higher Education Ministry closely monitoring students in US amid policy changes
PETALING JAYA: Majlis Amanah Rakyat (Mara) will work closely with the Higher Education Ministry to monitor Mara-sponsored students currently in the United States, in light of new policies under President Donald Trump's administration. Its chairman Datuk Dr Asyraf Wajdi Dusuki said existing students in the US have been minimally affected so far, and he hopes the situation remains that way. "The Higher Education Ministry has issued a statement that the impact on current students is minimal. However, in Mara's context, we have decided to postpone the sending of new students. "So far, the ministry has given its assurance that there will be no adverse impact (on current students), and we are working closely together. That is important, as this involves a government-to-government (G2G) arrangement. "We hope there will be no implications, though we remain concerned. Policies can change at any time, but most importantly, we do not want to expose our students to further risk," he told reporters after launching the Mara-Petronas Automotive Entrepreneur Development Programme (PUMP) here today. Also present was Petronas Lubricants Marketing Malaysia chief executive officer Mohd Zameer Zahur Hussain. Asyraf said Mara will also meet with around 200 students currently undergoing preparatory courses at Mara colleges before being sent abroad. "With the new policy under President Trump, we believe it is more appropriate and wiser to send them to countries with lower associated risks," he said. On May 28, AFP reported that US Secretary of State Marco Rubio had ordered the suspension of student visa processing as the Trump administration intensified vetting of applicants' social media activity, according to an internal cable. This marks the latest move targeting international students, a major source of revenue for US universities, following Rubio's cancellation of hundreds of visas and efforts to prevent Harvard University from admitting non-American students. On June 1, Asyraf had announced that Mara would halt the sending of sponsored students to the US this year. Meanwhile, Asyraf, who is also Umno secretary-general, said turnout at recent Umno branch meetings had been overwhelming compared to previous years. He expressed confidence that the momentum would continue into the divisional meetings, ahead of the Umno General Assembly in August. "Usually, when the branches have held their meetings with such remarkable and encouraging turnout, the divisional delegates' meetings will also be just as impressive, God willing," he said. The Umno Divisional Delegates' Meetings are currently being held from June 9 until July 27. The Umno Branch Conferences were held from April 7 to May 25, 2025, while the Umno General Assembly is scheduled to take place from Aug 20 to 23, 2025. On the PUMP programme, Asyraf said 30 entrepreneurs would receive support this year under the strategic initiative which aims to to empower Bumiputera entrepreneurs in the motorcycle maintenance and repair industry through the MotoExpert brand. "Mara is offering structured technical training, rebranding of premises, and business financing facilities of up to RM300,000. "In addition, participants will receive support in terms of spare parts supply chains, image enhancement for their premises, and the development of a more efficient and competitive workshop operating system," he said. The programme is expected to boost sales by up to 30 per cent and aims to transform at least 20 Bumiputera motorcycle workshops by 2026. The initiative is also expected to create more job opportunities, particularly for graduates of TVET institutions in the motorcycle maintenance and repair sector, while increasing their potential to own workshops. The programme is open to graduates from Mara TVET institutions or other institutions who have operated a motorcycle workshop for at least six months, with an annual turnover exceeding RM360,000. Participant selection will be conducted through seminars and interview sessions in the middle of this year.
The Star
9 hours ago
- The Star
Pentagon chief vows to honor US-Australia sub deal
WASHINGTON: Defence Secretary Pete Hegseth (pic) sought Tuesday (June 10) to reassure lawmakers over the US pledge to supply Australia with a fleet of nuclear-powered submarines, amid growing concern that production is not rolling out quickly enough to meet the commitment. Under the AUKUS deal signed to great fanfare in 2021, Washington, London and Canberra are cooperating on the joint development of cyber warfare tools, artificial intelligence and hypersonic missiles. The agreement commits the United States to building cutting-edge submarines for Australia, an investment with an estimated cost of up to US$235 billion over 30 years. Australia plans to acquire at least three Virginia Class submarines from the United States within the next 15 years, eventually manufacturing its own nuclear-powered subs. The US navy has 24 Virginia-class vessels, which can carry cruise missiles, but American shipyards are struggling to meet production targets set at two new boats each year. Critics question why the United States would sell nuclear-powered submarines to Australia without stocking its own military first. Questioned by members of the US House of Representatives, Hegseth said his team was talking "every day" to US shipbuilders Electric Boat and Huntington Ingalls to ensure that "their needs not only are being met, but their shortfalls are being addressed." The former Fox News host, one of President Donald Trump's most divisive cabinet appointments, acknowledged a "gap" between current supply and future demand, but added that submarine building is "crucial" to US security. He blamed Trump's Democratic predecessor Joe Biden for having "neglected" the industrial base for submarine construction. While the stealthy Virginia class is an attack and intelligence gathering submarine designed for a wide range of missions, the Columbia class is a ballistic missile carrier built for nuclear deterrence that will be the largest submarine ever built by the United States. Democrat Rosa DeLauro - whose home state of Connecticut builds Navy submarines - berated Hegseth over the Pentagon's decision to move US$3.1 billion earmarked in 2026 for Columbia-class construction to 2027 and 2028. "Is that going to raise alarm bells across the defence industrial base by signaling a lack of commitment to the programme?" she asked. Hegseth committed to the "on-time" delivery of the vessels. - AFP
