Asean currencies seen strengthening this year as US dollar weakens
Asean currencies are expected to appreciate further this year as global investors diversify away from heavy US exposures, said Maybank Investment Bank Bhd (Maybank IB) today.
The investment bank noted that all major Asean currencies - including the ringgit, Singapore dollar, Indonesian rupiah and Thai baht - are likely to strengthen in 2025.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
44 minutes ago
- New Straits Times
China rolls out Asean Visa for 10 Asean countries and Timor-Leste
BEIJING: China has rolled out an Asean Visa for the 10 member countries of the Association of Southeast Asian Nations (Asean) and Asean observer Timor-Leste, according to the Chinese Foreign Ministry. The ministry's spokesperson, Lin Jian, said this new programme offers five-year multiple-entry visas to eligible applicants visiting China for business purposes and their spouses as well as children, granting a maximum stay of 180 days. "For anyone with more specific questions on visas to China, they are welcome to contact our diplomatic and consular missions in their countries," he said in a statement yesterday. He said the initiative was to further facilitate cross-border travels in the region, on top of the visa-free arrangement between China and countries such as Singapore, Thailand, Malaysia and China's 'Lancang-Mekong visas' programme for Mekong countries. In recent years, he noted that China and Asean have advanced the building of a community with a shared future. "Visits between the people of China and Southeast Asian countries have been frequent. "There is a mutual hope to further ease travel between the two sides," he pointed out. He also said that the growing 'visa-free list' shows China's firm resolve in expanding high-level opening up. "The various measures China has taken to ease cross-border travel are all part of China's concrete action to create an open global economy," he explained. Adding to the proof, Lin said in the first quarter of this year, China received over nine million visits by foreigners, up by over 40 per cent year-on-year. "And in the first four months, more than 18,000 foreign-invested companies were established in China, up by 12.1 per cent year-on-year," he said. He further said that China will continue to improve entry policies and add more countries to the visa-free list.
The Star
an hour ago
- The Star
Taking a page from the UK
Strengthening ties: Ahmad Zahid (third from right) holding a meeting with Reed (second from left) in Whitehall, England. — Bernama Green energy, trade, tech and TVET feature in bilateral talks LONDON: Malaysia is looking to strengthen its bilateral cooperation with the United Kingdom in several strategic sectors following a meeting between Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi and British Secretary of State for Environment, Food and Rural Affairs Steve Reed. In discussing bilateral cooperation between Malaysia and the United Kingdom, Ahmad Zahid said he expressed Malaysia's commitment to become the Asean Hub for Technical and Vocational Education and Training (TVET) Certification and Excellence. "The focus will be on high-value industries such as semiconductors, electric vehicles (EV), aerospace and green energy. "I also conveyed Malaysia's intention to expand collaboration with UK academic institutions and industries to enhance TVET training, certification and the employability of Malaysian graduates," he told reporters during a working visit here on Monday. On rural development, Ahmad Zahid said the country is keen to learn from the UK's approach in transforming rural areas into sustainable economic growth zones. "We also discussed matters related to disaster management, access to clean water and the use of new technologies to strengthen resilience against global climate change," he said. Several issues concerning the environment were also discussed, especially on ways to overcome the problem of polluted rivers. "Malaysia needs to learn how the UK dealt with rehabilitating polluted rivers. "We need to take heed of how polluted rivers have become a thing of the past in the UK as we are still facing the same problem. "The first step to learning from them is to raise public awareness of the problem with polluted rivers," he said. Ahmad Zahid said both him and Reed agreed that sustainable programmes to preserve the environment were vital to moving forward. "Both of us concurred that leaders come and go but such programmes must continue," he added. The meeting also touched on renewable energy cooperation, including a proposal to reactivate the Asean Power Grid and explore investment opportunities in solar and green energy, he said. "The UK's establishment of GB Energy, a national clean energy company, was noted as a positive signal of its strong commitment to the green agenda. "I expressed Malaysia's readiness to be a strategic partner in this development," he said. In addition, Ahmad Zahid said he highlighted the potential of Islamic financial instruments such as sukuk to support climate finance and sustainable development cooperation. "This includes bolstering the global halal industry through the establishment of a World Halal Council and a unified halal logo, which aims to reinforce international consumer confidence in Malaysia's standards," he added. Ahmad Zahid said both countries reaffirmed their commitment to strengthen trade ties, including through frameworks such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, and increasing business-to-business (B2B) engagement between the private sectors of both nations. "I believe this meeting has opened new avenues to elevate Malaysia-UK cooperation to a more strategic level, especially in building a more inclusive, sustainable and resilient future," he said. On Monday night, Ahmad Zahid hosted a gathering for Malaysians including 60 Mara-sponsored students based in the United Kingdom. He advised the students about giving back to the country once they have finished their studies. "While the salaries here (UK) might be substantially higher, returning and helping to develop the country further is priceless and much more meaningful." Ahmad Zahid arrived in London on Sunday night for a four-day working visit to the United Kingdom.
The Star
an hour ago
- The Star
Shahrul is new ambassador to US
Proud moment: Sultan Ibrahim presenting the Letter of Credence to Muhammad Shahrul Ikram during a ceremony at Istana Negara. — Photo courtesy of Sultan Ibrahim's Facebook PETALING JAYA: Tan Sri Muhammad Shahrul Ikram Yaakob has been appointed as the new Malaysian Ambassador to the United States. A statement from the Foreign Ministry said His Majesty Sultan Ibrahim, the King of Malaysia, has presented the Letter of Credence to Muhammad Shahrul Ikram yesterday. 'The letter was presented during a ceremony at Istana Negara,' said the ministry's communication and public diplomacy division in a statement to Bernama. Muhammad Shahrul Ikram is the former Foreign Ministry's secretary-general. According to a post on Sultan Ibrahim's Facebook page, the ceremony was also attended by the Deputy Foreign Minister Datuk Mohamad Alamin and the ministry's secretary-general Datuk Sri Amran Mohamed Zin. Muhammad Shahrul Ikram replaces Datuk Seri Nazri Aziz, whose term concluded on Feb 8. The Pahang-born diplomat holds a Bachelor of Science (Hons) in Ecology from Universiti Malaya, and has attended the Advanced Management Program at Harvard Business School in the US. He started his career as an administrative and diplomatic officer (PTD) in the Foreign Ministry in 1988, and served as chairman of the Secretariat of the Foreign Ministry from Jan 6, 2019, to May 31, 2022. Throughout his 35 years in public service, Muhammad Shahrul Ikram has been posted as Ambassador to Qatar and Austria, as well as Permanent Representative of Malaysia to the United Nations in New York. While at the Foreign Ministry, he had served as deputy secretary-general (Bilateral Relations), director-general of the Asean-Malaysia National Secretariat (during Malaysia's 2015 Asean Chairmanship) and secretary of the Multilateral Political Division.
