
Anwar: Asean revives plans for regional monetary fund
He said there is a need for financial transformation in Asean and the regional group is taking steps in this direction.
'One example is the Chiang Mai Initiative, where central banks in the region...

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Barnama
3 hours ago
- Barnama
PM Anwar Extends Aid To Cancer Patient And Retired Soldier In Kuantan
KUALA LUMPUR, Aug 17 (Bernama) -- Prime Minister Datuk Seri Anwar Ibrahim has presented donations to stage-four nasal cancer patient Mohd Sharul Ikmal and retired soldier Pak Nik Soh, who is nearly blind from optic nerve complications. The aid was handed over on behalf of the Prime Minister by his political secretary, Datuk Ahmad Farhan Fauzi, during a Ziarah MADANI programme visit to Taman Balok Jaya, Kuantan, Pahang. 'I was deeply moved when I heard two truly touching life stories, beginning with Sharul, 27, who, at such a young age, has to battle stage-four nasal cancer.


The Star
5 hours ago
- The Star
Uncertainties over US interest rates will likely see the ringgit trade around RM4.20-4.22 this week
KUALA LUMPUR (Bernama): The ringgit is expected to hover between RM4.20 and RM4.22 this week as traders and investors remain cautious over the trajectory of US interest rates. Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the release of the US Federal Open Market Committee (FOMC) meeting minutes next Thursday, Aug 20 (Wednesday, Aug 19, in the US) could offer more clarity on the state of the US economy, particularly after two FOMC members dissented from the recent decision and favoured a 25-basis-point rate cut. Meanwhile, Kenanga Investment Bank Bhd said that markets continued to swing between two and three US Federal Reserve (Fed) cuts over the past few weeks. "We maintain our base case for two, underpinned by evidence that firms are absorbing tariff costs, a trend that is unsustainable and likely to squeeze margins,' it said in a research note. Moreover, the investment bank said further easing would require either a major deterioration in the next jobs report or a significantly dovish tone from Fed chair Jerome Powell. "Hence, we expect the ringgit to range around RM4.22 to RM4.23 against the greenback in the near term,' it added. On Thursday, the ringgit appreciated to the 4.18 level against the US dollar, its strongest level in more than six weeks. The last time it reached a similar high was on July 1, when it hit 4.1805. Meanwhile, on a Friday-to-Friday basis, the ringgit ended the week higher against the greenback, closing at 4.2085/2155 versus 4.2420/2480 previously. The local note traded mostly higher against a basket of major currencies. The ringgit appreciated vis-à-vis the Japanese yen to 2.8653/8702 from 2.8720/8763 the previous week and rose versus the euro to 4.9185/9267 from 4.9381/9451, but declined against the British pound to 5.7050/7145 from 5.7034/7114 The ringgit also trended firmer against Asean currencies. The local note improved against the Singapore dollar to 3.2820/2877 from 3.3014/3064 at the end of last week, inched up versus the Thai baht to 12.9760/13.0032 from 13.1173/1419, gained versus the Indonesian rupiah to 260.2/260.8 from 260.3/260.8 and strengthened against the Philippine peso to 7.37/7.39 from 7.43/7.44 in the preceding week. - Bernama


The Sun
5 hours ago
- The Sun
Sun Bus aims to be leading player in Asean EV bus market
JOHOR BAHRU: Sun Bus Tech Sdn Bhd aims to be among Malaysia's top three bus manufacturers within five to 10 years and a leading player in the Asean electric vehicle (EV) bus market. Its chief executive officer, Shyan Phang, said the outlook for Malaysia's EV bus sector remains strong, driven by government plans to procure a further 1,100 units by 2030. 'At present, the EV bus market in Malaysia is fully dependent on government purchases. Last year's tender for 250 units has been concluded, and more orders are expected annually. This presents a big opportunity for local manufacturers,' she told Bernama. The Johor-based company has equipped its assembly facility with EV-specific infrastructure, including dual-gun direct-current fast chargers, portable chargers and special safety containers for battery storage. 'We also use Swiss technology for aluminium bus bodies, which are rust-resistant and can last 15 years to 20 years. The total life-cycle cost is lower than that of steel-bodied buses,' Phang said. Sun Bus Tech plans to expand its EV bus market to Japan, Indonesia and Thailand, with market visits starting this month. The company also works closely with chassis, battery and charger suppliers to improve efficiency, range and passenger capacity. However, Phang said challenges remain, including high acquisition costs, insufficient charging infrastructure and limited range for long-distance operations. 'For EV adoption to truly work here, infrastructure, policy and operator readiness must align. With continued government support, I am optimistic the industry will grow rapidly.' She acknowledged that the main challenges to EV adoption in the Asean region are high costs, limited charging infrastructure and range limitations that do not yet meet the needs of tour or charter bus operators. 'For the tourism bus segment, EV is still not practical. Charging infrastructure needs to be addressed first. But I am confident that with government support, the public EV bus market will continue to grow,' Phang said.