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Anwar defends Brazil visit, says Brics engagement key to global trade and clean energy push

Anwar defends Brazil visit, says Brics engagement key to global trade and clean energy push

Malay Mail20 hours ago
KUALA TERENGGANU, July 12 — Prime Minister Datuk Seri Anwar Ibrahim has denied claims that his recent visit to Brazil to attend the BRICS Summit was merely for 'leisure', stressing that it was an important effort to foster global economic cooperation.
He said every official visit he undertook was aimed at generating economic returns for the country, and not for leisure as alleged by certain quarters.
'We do not travel just for sightseeing. During meetings and engagements, we use every opportunity to meet (with leaders and stakeholders to strengthen relationships and cooperation),' he said when officiating the closing ceremony of the Madani Rakyat Programme (PMR) 2025 in Terengganu today.
The Finance Minister said Malaysia's strategic cooperation with Brazil had greatly benefited the country, including Petronas being granted access to the largest oil platform in Brazil.
As for the frequency of his and several ministers' attendance at various Asean meetings and negotiations recently, Anwar said these were not merely symbolic but had led to concrete results, including Terengganu being selected as the hub for a new green hydrogen energy initiative.
He said the project in Tasik Kenyir was highly significant as it aligned with the region's major agenda to implement the Asean Power Grid, which would connect cross-border electricity supply from Vietnam to Malaysia and Singapore through undersea cables.
'This energy production can only be realised through the cooperation of Asean, the Federal Government, and state governments. It will certainly position Malaysia as a major energy producer in the region,' he said.
Anwar added that with the rapid emergence of artificial intelligence (AI) technology centres, which demand significantly higher energy and water capacities than typical industries, it was crucial for Malaysia to support and help realise the Asean Power Grid initiative.
He also said Malaysia was increasingly respected on the global stage, as demonstrated by the extraordinary participation of major powers in recent Asean meetings, indicating confidence in the country's stability and economic potential.
Anwar noted that while Asean meetings involved 10 member countries as well as Timor Leste, the attendance of major powers such as Japan, the United States, Russia, and Turkiye was a remarkable show of support for the platform.
'This is because they see Malaysia as a peaceful, united nation with great potential for trade cooperation,' he said. — Bernama
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Perak's Lenggong Valley Unesco site boom: Tourists soar, locals thrive, and geopark bid gains ground
Perak's Lenggong Valley Unesco site boom: Tourists soar, locals thrive, and geopark bid gains ground

Malay Mail

time42 minutes ago

  • Malay Mail

Perak's Lenggong Valley Unesco site boom: Tourists soar, locals thrive, and geopark bid gains ground

LENGGONG, July 13 — Lenggong Valley continues to record rapid growth as a heritage tourism destination, with tourist arrivals soaring by over 280 per cent in just two years. Perak Menteri Besar Datuk Seri Saarani Mohamad said the number of tourists rose from 24,770 in 2022 to 114,182 last year, following continuous efforts to develop the area. 'Tour guides saw their income increase by 237 per cent, while accommodation operators recorded a 145 per cent increase in revenue over the same period. 'This development has had a direct impact on the local economy, especially for rural communities, including traditional villages and the Orang Asli, who are now actively involved in tourism-related activities such as handicrafts, traditional food and homestay programmes,' he said. He said this during a dinner event held in conjunction with the evaluation session of the Aspiring Lenggong Unesco Global Geopark (UGGp) site here yesterday. Saarani said scientific studies conducted have identified several areas with development potential, involving 39 geosites, 11 geoarchaeological sites, eight biosites, and 21 cultural and heritage sites. 'Five of these sites have been recognised for their international geological value, encompassing unique and interrelated elements of geological heritage, biodiversity, culture and archaeology. 'This diversity of resources makes Lenggong Valley not only an important site for research activities but also a competitive international tourism destination,' he said. He also said the state government is actively strengthening Lenggong Valley's international standing through collaborations with various international geopark networks and participation in global conferences, including with Japan, South Korea and Turkey. 'Lenggong Valley is no longer just a tourism destination, it is now a centre for human capital development based on heritage,' he added. Lenggong Valley, designated as a Unesco World Heritage Site since 2012, spans 22 square kilometres (sq km) which is about one per cent of the total area of the Aspiring Lenggong Unesco Global Geopark, which covers 2,248 sq km. The UGGp area covers five subdistricts, Durian Pipit, Temelong, Lenggong, Kenering and Gerik, with a population of around 61,039 people. — Bernama

Oil and gas: Bigger Sabah participation, Sabah can unlock its true potential in the industry.
Oil and gas: Bigger Sabah participation, Sabah can unlock its true potential in the industry.

Daily Express

timean hour ago

  • Daily Express

Oil and gas: Bigger Sabah participation, Sabah can unlock its true potential in the industry.

Published on: Sunday, July 13, 2025 Published on: Sun, Jul 13, 2025 By: Datuk Roger Chin Text Size: THE Commercial Collaboration Agreement (CCA) between Sabah and Petronas marks a significant milestone. It empowers Sabah to exercise greater control over its oil and gas resources, paving the way for a period of renewed growth and development within the state. This positive outlook is further bolstered by the success of SMJ Energy, a Sabahan oil and gas company that has achieved remarkable financial standing, boasting a coveted triple-A bond rating and substantial assets and profitability as demonstrated by its RM50 million maiden dividend to the State Govt in 2023. However, a crucial question remains – how can Sabah leverage these developments to create a truly inclusive oil and gas ecosystem that empowers its local population? Moving Beyond Resource Extraction - A Collaborative Approach While the CCA and SMJ Energy's success are positive indicators, a strategic shift is necessary to translate these developments into tangible benefits for Sabahans. The focus should extend beyond mere resource extraction. Petronas, as the national oil company, has a unique opportunity to foster a collaborative environment. This can be achieved by actively supporting and nurturing the growth of Sabahan companies, enabling them to become key players across various segments of the oil and gas value chain. Moving away from the narrative of a skills gap, Petronas can play a pivotal role in bridging this gap by investing in targeted training programs and mentorship initiatives. Equipping Sabahans with the necessary expertise will unlock their potential to contribute meaningfully across the upstream, midstream, and downstream sectors of the industry. Transparency - Building a Ladder of Opportunity Transparency is paramount in ensuring equitable participation. Demystifying the entire oil and gas value chain – from upstream exploration and production to downstream activities like logistics, maintenance, and even catering services – is crucial. This information, readily available and presented in a clear and concise format, will empower aspiring entrepreneurs and business owners to identify suitable entry points for participation. Imagine a comprehensive breakdown of the different stages within the industry, along with clear outlines of the qualifications and resources needed for participation at each level. This will empower Sabahans, from established businesses to individuals with entrepreneurial ambitions, to identify their ideal entry points. Think of it as a carefully constructed ladder. A local catering company, for example, can begin by providing food services to offshore platforms. As their expertise and capacity grow, they can climb the ladder, potentially securing larger contracts or even expanding into other segments like equipment maintenance or specialized transport. This fosters a dynamic environment where local businesses can continuously improve and evolve alongside the industry. Additional Crucial Measures for Empowering Local Participation Infrastructure Development: Investing in Sabah's transportation networks, communication systems, and power grids will create a more attractive environment for businesses and incentivize further participation. Improved infrastructure will not only reduce operational costs but also enhance productivity and efficiency. Education and Training Alignment: Aligning Sabah's education and training curriculum with the specific needs of the oil and gas industry will ensure a readily available pool of qualified local talent. This includes incorporating relevant technical skills training alongside soft skills development programs to nurture well-rounded professionals. Local Content Requirements: Establishing clear and measurable local content requirements will incentivize contractors and operators to utilize Sabah-based services and workforce. This can be implemented through a tiered system that offers preference to companies demonstrating a commitment to local hiring and procurement. Financial Support Mechanisms: Providing access to financing for Sabahan businesses, particularly SMEs, is crucial for contract competition and joint venture participation. Loan guarantees, tax breaks, and subsidies can level the playing field. Grant programs specifically targeted towards innovation and technological development in the oil and gas sector can further empower local companies. Encouraging Innovation and Entrepreneurship: Fostering a culture of innovation and entrepreneurship will be critical to drive local participation beyond traditional service provision. Supporting the development of homegrown oil and gas technology and service companies will ensure Sabah has a stake in the entire value chain. This can involve establishing business incubators, providing mentorship programs, and organizing innovation challenges focused on addressing industry-specific problems. A Shared Journey Towards Prosperity By fostering an inclusive and transparent environment, Sabah can unlock its true potential in the oil and gas sector. Empowering Sabahans to participate meaningfully will not only contribute to their own economic well-being but also fuel the state's growth and development. The future is bright, and by equipping Sabahans with the right tools and knowledge, we can ensure they are well-positioned to navigate this exciting new chapter and become active participants in the state's oil and gas renaissance. The views expressed here are the views of the writer and do not necessarily reflect those of the Daily Express. If you have something to share, write to us at: [email protected]

Court takes over THHE's winding-up, citing liquidator's bias
Court takes over THHE's winding-up, citing liquidator's bias

Free Malaysia Today

time2 hours ago

  • Free Malaysia Today

Court takes over THHE's winding-up, citing liquidator's bias

The Kuala Lumpur High Court has ordered that THHE Engineering Berhad be wound up, with costs totalling RM150,000 to be paid out of its assets to the three petitioners led by Global Mariner Offshore Services Sdn Bhd. PETALING JAYA : The Kuala Lumpur High Court has, in a landmark decision, converted TH Heavy Engineering Berhad's (THHE) voluntary winding-up into a court-supervised compulsory liquidation, citing serious concerns over how the process was conducted previously. 'This is probably the second time that such an application has been made,' Justice Atan Mustapha Yussof Ahmad said in a written judgment handed down recently. 'The earlier case was decided over a hundred years ago,' he added, citing the Seremban General Agency case from 1923. The judge was setting out his grounds for allowing a petition by Global Mariner Offshore Services Sdn Bhd (GMOS) and two others under Sections 464(1) and (2) of the Companies Act 2016, and for the appointment of private liquidators. GMOS became a creditor of THHE on July 21, 2023, after securing judgment for US$63.42 million in damages following a shareholders' dispute. Together, GMOS and two other petitioners – Boomslang Technology Sdn Bhd and Dynac Sdn Bhd – hold 76.8% of THHE's total debt. 'The breaches of statutory provisions in the voluntary liquidation process, conflicts of interest of the interim liquidators, questionable circumstances surrounding the voluntary liquidation, and the compelling need for independent investigation all point inexorably to the conclusion that compulsory liquidation under court supervision is necessary. 'The evidence reveals concerning aspects of the voluntary liquidation process that call into question its bona fides,' Atan said in his 58-page judgment. This includes conflicts of interest arising from the appointment of two individuals as interim liquidators when the creditors' voluntary liquidation process began on Sept 8, 2023. FMT is withholding the names of the individuals concerned. Atan said there were serious questions about the independence of the two appointees, given their 'long-standing relationship with the THHE Group'. The duo were previously appointed to advise on debt restructuring schemes drawn up in 2017 and 2023. The judge said the interim liquidators had demonstrated a 'lack of objectivity and bias in favour of the directors who appointed them'. He found that they failed to properly investigate a 'suspicious' declaration of solvency for THHE Fabricators Sdn Bhd – a subsidiary of the company – after it 'showed a dramatic change from a RM29.469 million deficit to RM10.525 million surplus within one month'. He also said the interim liquidators had failed to adequately examine inter-company transactions, and had tended to defend actions taken by the company's directors instead of conducting impartial investigations. 'The interim liquidators' conduct throughout the voluntary liquidation process demonstrated a clear intention to maintain control rather than facilitate proper creditor governance,' the judgment read. Atan also questioned their conduct of a meeting convened on Oct 4, 2023, alleging they had 'deprived creditors of their statutory rights to elect a chairman and nominate a liquidator of their choice'. He criticised their subsequent attempt to initiate legal proceedings aimed at convening a fresh meeting 'under their control'. 'Their conduct throughout suggests a deliberate strategy to frustrate creditors' rights and maintain their position, rather than acting in the best interests of the creditor body as a whole,' he said. He pointed to the timing and manner in which the voluntary liquidation had been commenced, saying it 'strongly (suggested) an ulterior purpose'. He described the two scheme applications previously filed in court as 'tactical manoeuvres to delay creditors' enforcement actions', noting that they were submitted shortly after GMOS obtained its judgment. The judge concluded that the voluntary liquidation had been initiated to preempt any attempt by creditors to compulsorily wind up the company. 'The timing and circumstances suggest the companies may have sought to maintain control over the liquidation process by placing it in the hands of their chosen liquidators, rather than risk court-appointed liquidators in compulsory proceedings,' he said. Atan also found the creation of security interests immediately before liquidation to be 'particularly troubling'. 'The timing suggests an attempt to prefer certain creditors and ring-fence assets before liquidation commenced. 'The need for independent investigation is a recognised ground for conversion from voluntary to compulsory liquidation. A court appointed liquidator, as an officer of the court, may better serve the interests of the creditors,' he said. The court ordered that THHE be wound-up, and appointed Lim Tian Huat and Chiang Teng Guan, nominated by the petitioners, as joint and several liquidators of the company. It also ordered that costs totalling RM150,000 be paid to the petitioners out of THHE's assets. THHE's largest shareholder is Urusharta Jamaah Sdn Bhd (UJSB), an asset management company established by the finance ministry in 2010 to manage underperforming Lembaga Tabung Haji investments. Formerly known as Ramunia Holdings Berhad, the company was involved in the fabrication of oil and gas structures, and in construction and management services. In 2017, it was classified as a PN17 company, and was delisted by Bursa Malaysia five years later.

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