
AM Best Assigns Credit Ratings to Military Insurance Corporation
The ratings reflect MIC's balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management. The ratings also factor in a neutral impact from the company's ultimate parent, Military Commercial Joint Stock Bank (MB).

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Owners Must Settle All Dues Before Seized Luxury Cars Are Released
KUALA LUMPUR, Aug 7 (Bernama) -- Owners of seized luxury vehicles must first settle all dues, including road tax, insurance and compounds, before their cars can be released, said Transport Minister Anthony Loke. He said the seizures were carried out under existing laws, with no exemptions, despite reports that some owners were willing to pay a RM300 fine as it was cheaper than the annual road tax. 'Vehicles that are seized due to expired road tax and insurance will only be released after all payments are settled. 'This includes road tax, insurance coverage, and compound fines. There are no shortcuts,' he told reporters after launching the Pandasafe programme by food delivery company Foodpanda today. Loke said many owners mistakenly believe that paying the RM300 compound is enough, stressing that strict enforcement is necessary to instil a sense of responsibility, particularly when it comes to road safety. Asked if the government plans to raise the compound for such offences, Loke said the Transport Ministry is reviewing the proposal, but any increase would require amendments to existing legislation. Loke also confirmed that the Road Transport Department (RTD) has been carrying out vehicle seizures as part of ongoing enforcement against non-compliant owners. Previously, it was reported that the RTD had identified more than 1,000 luxury vehicles in Malaysia with expired road tax for extended periods. Among the vehicles flagged were Ferraris, Lamborghinis and Porsches, some reportedly owned by celebrities and prominent business figures, who claimed the cars were only used as 'weekend cars'.


Sinar Daily
21 minutes ago
- Sinar Daily
Owners must settle all dues before seized luxury cars are released
Vehicles that are seized due to expired road tax and insurance will only be released after all payments are settled. 07 Aug 2025 04:28pm Loke said many owners mistakenly believe that paying the RM300 compound is enough, stressing that strict enforcement is necessary to instil a sense of responsibility, particularly when it comes to road safety. - Bernama photo KUALA LUMPUR - Owners of seized luxury vehicles must first settle all dues, including road tax, insurance and compounds, before their cars can be released, said Transport Minister Anthony Loke. He said the seizures were carried out under existing laws, with no exemptions, despite reports that some owners were willing to pay a RM300 fine as it was cheaper than the annual road tax. "Vehicles that are seized due to expired road tax and insurance will only be released after all payments are settled. "This includes road tax, insurance coverage, and compound fines. There are no shortcuts,' he told reporters after launching the Pandasafe programme by food delivery company Foodpanda today. Loke said many owners mistakenly believe that paying the RM300 compound is enough, stressing that strict enforcement is necessary to instil a sense of responsibility, particularly when it comes to road safety. Asked if the government plans to raise the compound for such offences, Loke said the Transport Ministry is reviewing the proposal, but any increase would require amendments to existing legislation. Loke also confirmed that the Road Transport Department (RTD) has been carrying out vehicle seizures as part of ongoing enforcement against non-compliant owners. Previously, it was reported that the RTD had identified more than 1,000 luxury vehicles in Malaysia with expired road tax for extended periods. Among the vehicles flagged were Ferraris, Lamborghinis and Porsches, some reportedly owned by celebrities and prominent business figures, who claimed the cars were only used as 'weekend cars'. - BERNAMA More Like This


The Star
30 minutes ago
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Indonesia's copper export to the US gets zero tariff
JAKARTA: Investment and Downstreaming Minister Rosan Roeslani confirmed that Indonesian copper will be subject to a zero-per cent import tariff in the United States, while negotiations continue to expand this exemption to other commodities, reported Antara news agency. "For copper, we get a 0 per cent tariff," Roeslani stated during the 2025 Indonesia-Japan Executive Dialogue here on Wednesday (Aug 6). The minister stated that Indonesia is still negotiating with the United States Trade Representative (USTR) to reduce import tariffs for other commodities, such as nickel and palm oil, and he expressed optimism about achieving favourable results for Indonesia. "We are negotiating (the tariff reduction) for other commodities. So far, we got (zero tariff) for copper, and other commodities such as nickel are likely to be approved, even if not at zero per cent, but at least lower than the current 19 per cent tariff," he remarked. According to Roeslani, Indonesia is also seeking a tariff-free status for other commodities that are not produced in the United States. Earlier, Coordinating Minister for Economic Affairs Airlangga Hartarto stated that Indonesia is seeking tariff reductions on commodities including crude palm oil, rubber, shorea wood, and copper derivatives. In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the tariff, which was initially set at 32 per cent by President Donald Trump last April, to 19 per cent. In exchange, Indonesia has committed to purchasing US$15 billion in US energy products and US$4.5 billion in US agricultural products, according to the US president on July 16. Indonesia also intends to purchase 50 Boeing jets, mostly Boeing 777 passenger jets, Trump stated. No details were provided regarding which Indonesian parties would purchase the Boeing jets. - Bernama-Antara