logo
Soccer-Malaysia calls for better management of local soccer clubs

Soccer-Malaysia calls for better management of local soccer clubs

Mint06-05-2025

Reuters
Updated 6 May 2025, 12:54 PM IST
KUALA LUMPUR, May 6 (Reuters) - Malaysia's sports minister has called for the country's soccer clubs to be managed by parties with genuine financial and managerial skills to boost investments in the domestic league and safeguard player welfare, state media reported on Tuesday.
Youth and Sports Minister Hannah Yeoh said the failure of some domestic clubs to manage fundamental responsibilities, such as paying salaries, has likely undermined efforts to attract and retain sponsors to support Malaysia's football development, state news agency Bernama reported.
"Football has a large audience, which is why I believe that to convince sponsors, all they want to see is how a club is run, how they pay salaries or look after the welfare of players," Yeoh was quoted as saying.
"I urge that those who are not capable should not touch it, let others take over. Sometimes, there are those who cannot manage but still want to hold on to power, preventing others from stepping in.'
Malaysian soccer has suffered financial hardships in recent years, leading to some clubs being penalised, relegated or withdrawing from the league. The Professional Footballers Association of Malaysia has said many professional clubs struggle to pay salaries on time. Last month, Yeoh urged Malaysian soccer authorities to undertake a sweeping overhaul of the sport's ecosystem, and emphasised that comprehensive solutions rather than piecemeal fixes were required to address problems.
Yeoh said the governing body of the Malaysian Football League must hold discussions with stakeholders to ensure a more structured and sustainable league moving forward.
(Reporting by Danial Azhar; Editing by Sharon Singleton)

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

3rd time lucky? Shein set to file for Hong Kong IPO
3rd time lucky? Shein set to file for Hong Kong IPO

Time of India

timean hour ago

  • Time of India

3rd time lucky? Shein set to file for Hong Kong IPO

China-founded fast-fashion retailer Shein is planning to confidentially file a draft prospectus for an IPO in Hong Kong in the coming days, which would mark the third venue the company has sought to debut in, Reuters reported. The move to apply confidentially is rare in Hong Kong, where companies generally make such filings public. Shein had a globe-trotting path to the public markets, with its prior attempts to list in the US and London facing scrutiny over its supply-chain practices and tariff impacts. Shein didn't reply to a request for comment from Reuters. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now

US stock market ends higher; S&P 500, Nasdaq hit record close on trade deal, US Fed rate cut hopes
US stock market ends higher; S&P 500, Nasdaq hit record close on trade deal, US Fed rate cut hopes

Mint

time2 hours ago

  • Mint

US stock market ends higher; S&P 500, Nasdaq hit record close on trade deal, US Fed rate cut hopes

US stock market ended higher on Friday, with the S&P 500 and Nasdaq recording their all-time closing highs, lifted by hopes of a US-China trade deal and US Federal Reserve interest rate cuts after soft economic data. The Dow Jones Industrial Average rallied 432.43 points, or 1.00%, to 43,819.27, while the S&P 500 rose 32.05 points, or 0.52%, to 6,173.07. The Nasdaq Composite closed 105.55 points, or 0.52%, higher at 20,273.46. All three major US stock indexes posted weekly gains. Among the 11 major sectors of the S&P 500, consumer discretionary was the top gainer, while energy shares were the laggards. Upon reaching its record closing high, the tech-heavy Nasdaq confirmed it entered a bull market when it touched its post 'liberation day' trough on April 8, Reuters reported. The blue-chip Dow remained 2.7% below its record closing high reached on December 4. US stock market gained as investors risk-appetite improved after Washington and Beijing reached an agreement to expedite rare-earth shipments from China to the US, a White House official said, well ahead of the July 9 expiration of the 90-day postponement of US President Donald Trump's 'reciprocal' tariffs, Reuters reported. Additionally, US Treasury Secretary Scott Bessent said the administration's trade deals with 18 of the main US trading partners could be done by the September 1 Labor Day holiday. On the NYSE, there were 347 new highs and 55 new lows. On the Nasdaq, 2,111 stocks rose and 2,342 fell as declining issues outnumbered advancers by a 1.11-to-1 ratio. Nvidia share price gained 1.8%, edging closer to $4 trillion market capitalization, while Amazon shares rallied 2.85%. Micron Technology shears eased 0.98%, while Tesla stock price dropped 1.43%. Nike shares jumped 15.2% after forecasting a smaller-than-expected drop in first-quarter revenue. US consumer spending unexpectedly fell in May. Consumer spending, which accounts for more than two-thirds of economic activity, dropped 0.1% last month after an unrevised 0.2% gain in April. That was the second decline in consumer spending this year. Economists polled by Reuters had forecast consumer spending would edge up 0.1%. A separate report from the University of Michigan confirmed consumer sentiment has improved this month, but remains well below December's post-election bounce. Financial markets have priced in a 76% likelihood that the Fed will implement its first rate cut of the year in September, with a smaller, 19% probability of a rate cut coming as soon as July, according to CME's FedWatch tool. (With inputs from Reuters) Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.

Intel's top strategy officer to depart this month
Intel's top strategy officer to depart this month

Time of India

time3 hours ago

  • Time of India

Intel's top strategy officer to depart this month

Intel 's top strategy executive, Safroadu Yeboah-Amankwah , is departing the company, the latest change since Lip-Bu Tan took the chipmaker 's helm in March, two people familiar with the matter told Reuters. Intel confirmed the departure, saying, "We are grateful for Saf's contributions to Intel and wish him the best." Yeboah-Amankwah, who has served as Intel's chief strategy officer since 2020, is leaving on June 30, said the two people, who spoke on condition of anonymity. Yeboah-Amankwah has overseen growth initiatives, strategic partnerships and equity investments for Intel, among other responsibilities. Some of Yeboah-Amankwah's strategy functions will now fall to Sachin Katti, whom Intel recently elevated to chief technology and AI officer. Intel Capital , the company's venture arm, is reporting up to Tan, said one of the two people and a third source briefed on the matter. Tan is a prolific investor and founded San Francisco-based venture capital firm Walden International in 1987. Live Events As Intel's CEO, Tan so far has flattened the semiconductor giant's leadership team and taken direct oversight of its important data center and AI chip group, plus its personal-computer chip group. He has brought in new engineering leaders. He has also aimed to cut what he viewed as Intel's bloated, slow-moving middle-management layer. Tan's moves follow years of manufacturing challenges at Intel and lost opportunity for mobile phone and AI chips . His predecessor, Pat Gelsinger, attempted an ambitious turnaround though he compounded some of Intel's problems, Reuters previously reported. Intel reported an annual net loss attributable to the company - its first since 1986 - of $18.8 billion in 2024.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store