logo
Kraftangan Malaysia Organises 13-Day FKPT 2025 Festival In Kuantan To Help Promote Craft Products

Kraftangan Malaysia Organises 13-Day FKPT 2025 Festival In Kuantan To Help Promote Craft Products

Barnama22-05-2025

KUANTAN, May 22 (Bernama) -- The Ministry of Tourism, Arts and Culture (MOTAC), through the Malaysian Handicraft Development Corporation (Kraftangan Malaysia), is organizing the East Coast Craft Festival (FKPT) 2025, which runs from today until June 3 at the East Coast Mall here.
Kraftangan Malaysia stated today that FKPT 2025 aims to be a platform to promote and commercialise local craft products and increase public awareness of crafts with a Malaysian identity.
"The 13-day FKPT 2025 features various interesting activities such as Craft Product Sales, Craft Interactive sessions, 'Ini Kraf Malaysia' (This is Malaysian Craft) Exhibition, as well as the 'Jom Masuk Institut Kraf Negara and Institut Kemahiran Tenun Pahang Diraja' (Let's Join the National Craft Institute and the Royal Pahang Weaving Skills Institute) Campaign," according to the statement.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Developers' ability to pass on SST costs to buyers dependent on economic conditions
Developers' ability to pass on SST costs to buyers dependent on economic conditions

Borneo Post

time27 minutes ago

  • Borneo Post

Developers' ability to pass on SST costs to buyers dependent on economic conditions

The recent announcement of six per cent SST on construction services starting from July 1, 2025 is a negative surprise to property developers due to possible margin pressure for ongoing or sold projects. — Bernama photo KUCHING: Property developer's ability to pass on the proposed six per cent sales and services tax (SST) costs for its current projects onto buyers will depend on the current prevailing economic conditions says analysts from Maybank Investment Bank Bhd (Maybank Research). In a real estate sector report, the analyst guided that the recent announcement of six per cent SST on construction services starting from July 1, 2025 is a negative surprise to property developers due to possible margin pressure for ongoing or sold projects. While there is currently no guideline on how the SST would apply to contracts entered into before July 1 but billed thereafter or if it is only applicable to contracts signed after, the analyst guides that they cannot discount the possibility that developers may have to absorb the additional cost for commercial and industrial builds. 'To avoid margin erosion stemming from rising construction costs, we believe developers are likely to pass on these additional costs from unsold stock and future projects to buyers, though this is subject to prevailing market demand,' they guided. A slower economic growth trajectory and weak market demand could constrain pricing power causing developers to face margin squeeze. Maybank Research also points out that as most contracts incorporate a regulatory change review clause, developers are expected to bear this SST rather than contractors. 'Developers engaged in data centre (DC) construction, including ECW and SDPR, could also see increased expenditures, potentially reducing their internal rate of return (IRR),' they opined. Furthermore, the analyst also notes that the 8 per cent SST on rental income while borne by tenants is still a negative impact to developers as it could restrain their leverage for rental increment negotiations, especially as many developers has placed a strategic emphasis on generating recurring income from investment property such as malls in recent years. To reflect this increased risk of margin's squeeze on developers, Maybank Research estimates a circa four sen reduction in Ecoworld Bhd's and Sime Darby Property Bhd's revised net asset value (RNAV) estimates due to the six per cent SST costs associated with their DC projects. To recap, effective July 1, 2025, construction services for infrastructure, commercial, and industrial buildings will be subject to a six per cent SST if the taxable value exceeds RM1.5 million annually. However, exemptions are provided for residential buildings, public utilities relating to housing, and non-reviewable contracts which will enjoy a 12-month grace period from the effective date.

Communications Ministry plans to organise Project Sigma 2.0
Communications Ministry plans to organise Project Sigma 2.0

The Sun

timean hour ago

  • The Sun

Communications Ministry plans to organise Project Sigma 2.0

PUTRAJAYA: The Ministry of Communications is planning to organise Project Sigma 2.0 in collaboration with Google to help its six agencies to better understand the information consumption patterns and needs of Generation Z (Gen Z). Minister Datuk Fahmi Fadzil said he plans to invite Google to the Tun Abdul Razak Broadcasting and Information Institute (IPPTAR) for the project, building on findings from the first Project Sigma held last May. 'There may be a Project Sigma 2.0 that covers more issues as we want media agencies to be stronger and better equipped to face changes, including those brought about by artificial intelligence (AI) technology. 'The previous project did not involve Bernama (Malaysian National News Agency), that is why I want to bring the findings from Project Sigma to be shared with agencies under the Ministry of Communications. 'In this context, the Broadcasting Department, Information Department, National Film Development Corporation, Bernama, IPPTAR and the Community Communications Department will be involved,' he told reporters after the ministry's monthly assembly at Menara Komunikasi here today. Present were Deputy Minister Teo Nie Ching and secretary-general Datuk Mohamad Fauzi Md Isa, as well as Bernama chief executive officer Datin Paduka Nur-ul Afida Kamaludin. Fahmi said Project Sigma, a 10-week initiative by the ministry in collaboration with Google, also involved local media such as Sinar Daily, The New Straits Times Press (Malaysia) Bhd (NSTP), The Star, and Sin Chew Daily. 'We invited these media companies to better understand Gen Z audiences. I want the lessons learned from Project Sigma to be shared and understood by our departments and agencies,' he said. On May 27, Fahmi suggested that IPPTAR work with Google to expand the project to other agencies and organisations, as the changing behaviours and needs of younger audiences require new approaches to information delivery.

Malaysia seeks lower tariff rates for key sectors in US talks on June 18 -Tengku Zafrul
Malaysia seeks lower tariff rates for key sectors in US talks on June 18 -Tengku Zafrul

The Sun

time2 hours ago

  • The Sun

Malaysia seeks lower tariff rates for key sectors in US talks on June 18 -Tengku Zafrul

KUALA LUMPUR: Malaysia is seeking lower tariff rates for selected sectors under the United States' (US) 10 per cent minimum tariff, particularly for industries deemed critical to both economies, ahead of another round of negotiations in Washington on June 18. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the talks aim to secure fairer terms for Malaysian exporters affected by the new baseline tariff announced by the US administration. 'The US currently imposes a 24 per cent tariff on certain Malaysian exports. And of course, our first target is to reduce that rate. The second is to identify sectors that should ideally be subject to tariffs below 10 per cent. 'We need to consider sectors that are important to Malaysian exporters and also crucial to the US economy,' he told a press conference after launching the ASEAN Economic Community (AEC) Strategic Plan 2026–2030, here today. However, the specific sectors under negotiation were not disclosed. In April 2025, the US government announced new tariff measures affecting more than 60 countries, including Malaysia. The implementation of these tariffs has been temporarily paused for 90 days to allow room for negotiations.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into the world of global news and events? Download our app today from your preferred app store and start exploring.
app-storeplay-store