#NST180years: From straits to strides - NST's legacy of unwavering journalism
The roots of this publication trace back to July 15, 1845, with the launch of The Straits Times and Singapore Journal of Commerce from its first office at No. 7 Commercial Square (present-day Raffles Place) in Singapore.
This laid the groundwork for decades of journalistic excellence, enriched by committed professionals. Notably, Tan Sri Lee Siew Yee and Tan Sri Abdul Samad Ismail were leading figures in the New Straits Times following its inception and separation from Singapore's Straits Times in 1974, crucially shaping its Malaysian focus.
Since then, countless other dedicated individuals — insightful editors, tenacious journalists, gifted photographers and talented illustrators — have poured their hearts into ensuring the NST's voice resonated through the ages. Despite the unprecedented challenges of the digital age, the NST has not only survived but thrived, embracing digital transformation with boldness.
This successful transition is largely due to the continuous output of outstanding, award-winning content and the editorial team's commitment to excellence under the guidance of Media Prima Bhd Group Managing Editor Jasbant Singh and NST Group Editor Farrah Naz Karim, who is also MPB deputy group managing editor. My heartiest congratulations to everyone at the NST for preserving this invaluable legacy.
This remarkable journey wouldn't be possible without the steadfast support of the NST readers. As we look ahead, the NST, alongside its sister publications Berita Harian and Harian Metro — already the two leading digital news brands in the country — continues to enhance its digital platforms, promising an even more exciting media product for all.
The NST's 180-year legacy is more than just history; it's the bedrock upon which its vital voice, influence and innovation will continue to build for the future.
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Malaysian Reserve
19 minutes ago
- Malaysian Reserve
Perkeso at the forefront of addressing socio-economic crises
During unforeseen crises such as the pandemic, Perkeso steps up as the primary provider of social protection for Malaysian workers THE Covid-19 pandemic, which struck the world in late 2019, had a profound impact not only on public health but also on the global economy, as movement restrictions and border closures disrupted lives and businesses. In Malaysia, the crisis forced many companies to restructure, downsize, or shut down entirely — leaving countless individuals without jobs and affecting their socio-economic stability. Commenting on the issue, Social Security Organisation (Perkeso) Group CEO Datuk Seri Dr Mohammed Azman Aziz Mohammed said Covid-19 had a direct and substantial impact on workers' welfare and society as a whole. 'The pandemic underscored the importance of having a strong social protection system to support workers in times of economic uncertainty. At Perkeso, we are committed to being a safety net for workers and their families,' he told Bernama recently. Mohammed Azman said that in facing unexpected crises like a pandemic, Perkeso emerged as the primary provider of social protection for Malaysian workers. 'For example, in 2017, Perkeso pro-actively introduced the Employment Insurance System (EIS) Act 2017 (Act 800) — two years before the pandemic — to provide coverage for workers who lose their jobs due to unforeseen circumstances. 'Act 800 was a crucial step to ensure affected workers, especially in unexpected situations like a pandemic, could return to the workforce more quickly. Programmes such as the Wage Subsidy Scheme demonstrated how social insurance can safeguard jobs and businesses,' he said. This proactive move by Perkeso successfully protected more than 3.1 million workers and nearly 400,000 employers through the Wage Subsidy Scheme, which provided financial support to employers to retain their workers, especially during the economic downturn caused by the pandemic. The informal sector continues to grow rapidly, but its workers remain highly vulnerable to risks, says Mohammed Azman (pic: MEDIA MULIA) Protection for Informal Sector Workers Although Malaysia's economy is recovering post-pandemic, social and economic crises stemming from structural changes in employment continue to linger. The latest data from the Department of Statistics Malaysia (DOSM) shows that the number of workers in the informal sector rose to 3.45 million in 2023. Workers in sectors such as p-hailing, e-hailing and various gig economy platforms face significant challenges, particularly in terms of social security and job stability. Recognising the importance of extending social protection to this group, Mohammed Azman said Perkeso introduced the Self-Employment Social Security Scheme (SKSPS) to provide coverage for informal sector workers. 'The informal sector continues to grow rapidly, but its workers remain highly vulnerable to risks. That's why we introduced SKSPS — to ensure they too receive appropriate social protection. 'In addition, the Housewives' Social Security Scheme (SKSSR) was launched to recognise the contribution of women in the care economy, particularly housewives who may not have a steady income but are exposed to significant work-related risks such as accidents and injuries,' he said. Perkeso is committed to being a safety net for workers and their families (pic: MEDIA MULIA) Early Intervention, Employment Recovery Perkeso has also taken proactive steps to address job loss risks through early intervention strategies in collaboration with other agencies, such as the Department of Labour. Mohammed Azman said Perkeso identifies employers intending to lay off workers or downsize operations, and then provides briefings and support programmes for the affected employees. 'Early intervention is crucial because it allows us to support workers before they lose their jobs. This gives them a chance to prepare and seek new employment without overwhelming pressure,' he said. Through Act 800, retrenched workers are supported via case management and retraining programmes, helping them to secure new jobs within six months. Perkeso also provides allowances such as the Job Search Allowance (EMP) and Reduced Income Allowance (EPB) while workers seek new employment. From 2020 to May 2023, more than 36,000 individuals participated in upskilling and retraining programmes under EIS. 'Statistics show that over 16,000 of them successfully secured employment after completing the training,' he said. Incentives, Amendments to Act 800 In line with evolving economic dynamics, Mohammed Azman said Perkeso amended Act 800 to raise the salary ceiling for contribution and benefit calculation to RM6,000 per month, up from RM5,000 previously. 'This move ensures the protection provided remains relevant to the current job market, particularly for workers in the expanding gig and informal sectors. 'With the higher salary cap, we aim to extend commensurate protection to workers in these fast-growing sectors. We're always striving to keep our coverage in line with market developments.' He added that initiatives like MYFutureJobs play a key role in helping informal sector workers transition into more stable, formal employment. 'Through the Informal to Formal Employment Transition Programme, Perkeso assists gig workers and online traders in securing jobs that offer better protection under the social security system,' he said. Empowering Gig Economy, Entrepreneurship Mohammed Azman noted that Perkeso is also actively empowering the gig economy and entrepreneurship through the Gig Economy and Entrepreneurship Career Programme. This programme includes business skills training and partnerships with various digital gig platforms to help workers improve their skills and generate income in the digital economy. 'Perkeso also implements the Bina Kerjaya (Career Building) programme, which offers reskilling training for workers in the informal sector. Since the programme began, over 7,900 individuals have undergone training with allocations totalling RM13.6 million. 'The gig economy is part of Malaysia's employment future. Through programmes like these, we hope to give workers the opportunity to upskill and access better job prospects,' he said. Global rise in the elderly population requires particular focus on retirement fund sustainability and elderly healthcare (pic: AFP) Social Synergy, Cross-Agency Collaboration One of Perkeso's latest initiatives is the Social Synergy Programme, involving over 350 government, NGOs and private agencies. Mohammed Azman said the platform aims to integrate various social assistance schemes into a more coordinated and accessible system for those in need. 'Collaborating with over 350 agencies is a testament to our commitment to delivering aid and support more efficiently to those who need it. The MySynergy system helps accelerate this process,' he said. Under MySynergy, more than 4,000 coordinators nationwide have been trained to manage the programme, which includes assistance in employment, entrepreneurship, poverty eradication and social insurance protection. 'This system also enables faster and more efficient aid distribution through an end-to-end strategy that includes home visits and immediate problem-solving,' he said. Facing the 'Golden Tsunami' Looking ahead, Mohammed Azman said Malaysia's social security ecosystem must continue evolving to stay relevant amid changing demographics and global economic shifts. He noted that the 'Golden Tsunami' phenomenon — referring to the global rise in the elderly population, including in Malaysia — requires particular focus on retirement fund sustainability and elderly healthcare. 'We must be prepared for major demographic shifts. Social protection for senior citizens and sustainable retirement funds will be key focus areas in our future planning. 'With the various initiatives already in place and plans for the future, Perkeso continues to play a key role as the nation's main line of defence in addressing social and economic challenges, while ensuring that no group of workers is left behind due to the rapidly changing dynamics of the world of work,' he said. — Bernama This article first appeared in The Malaysian Reserve weekly print edition
Borneo Post
an hour ago
- Borneo Post
PKR Sibuti branch applauds Anwar's cost of living relief initiatives
Zulhaidah Suboh MIRI (July 24): Parti Keadilan Rakyat (PKR) Sibuti branch has lauded Prime Minister Datuk Seri Anwar Ibrahim's recent announcement of several key initiatives to ease the rising cost of living, describing them as timely, inclusive, and beneficial to all Malaysians. Its deputy chief Zulhaidah Suboh said the introduction of the one-off RM100 cash assistance under the Sumbangan Asas Rahmah (Sara) programme for all Malaysian citizens aged 18 and above would provide immediate relief, particularly for lower-income groups. 'This form of individual-based assistance will directly improve household purchasing power. For instance, a household with four adult members would receive RM400,' she said in a statement yesterday. The assistance, which will be disbursed via MyKad, can be utilised from Aug 31 to Dec 31, this year. Zulhaidah also welcomed the government's decision to reduce the price of RON95 petrol to RM1.99 per litre for Malaysians—down from the current RM2.05—under a newly targeted subsidy mechanism, with full details to be announced by the end of September this year. 'This will significantly lower daily transport costs and help control the prices of essential goods, benefitting the rakyat as a whole,' she added. Zulhaidah also commended the government's decision to double the allocation for the Rahmah Madani Sales Programme to RM600 million, saying it would make affordable basic necessities more accessible to rural and remote communities. 'The increased allocation will widen access to essential goods at reasonable prices, especially for B40 and M40 households living in the rural and the interior,' she noted. She further expressed appredciation for the announcement of an additional public holiday on Sept 15 in conjunction with Malaysia Day celebrations. 'This holiday not only honours the spirit of unity and the nation's formation, but also encourages domestic family activities and tourism,' she said. Zulhaidah stressed that the initiatives announced by Anwar are not short-term populist measures, but part of a broader, balanced strategy aimed at supporting people's welfare while maintaining economic stability. 'These initiatives reflect a caring and practical approach that should be commended. We thank YAB Datuk Seri Anwar Ibrahim and the Unity Government for their continued commitment to building a Malaysia Madani.'
New Straits Times
an hour ago
- New Straits Times
Clarifying independent directors' obligations
Independent directors are not full-time directors like executive directors. Independent directors run the risk of having incomplete and insufficient information. Due to this, their risks are higher. The Singapore appeal case Goh Jin Hian v Inter-Pacific Petroleum (IPP) both lays down and reaffirms some of the principles on independent directors' liability. Decisions made by Commonwealth countries have a persuasive effect on Malaysian court decisions, as Malaysia too is a Commonwealth country. What's more, the other commonwealth country is just across the causeway and once shared the same DNA as Malaysia. One can discern six principles as laid down by the Singapore Appellate Division. Duty of Skill, Care, and Diligence: Scope and Threshold A director must act with reasonable care and skill, considering their position and involvement in the company's affairs. A non-executive director' duty is less onerous than that of executive directors. This makes sense, as executive directors are involved full-time in management compared to non-executive directors, who are not involved in management. The Appellate Division reaffirmed this standard: a director is "a sentinel, but not a forensic investigator or sleuth" unless clear warning signs emerge. Notably, directors cannot be held to detect every fraud—they are not expected to conduct forensic-level scrutiny in the absence of explicit red flags. The duty of care principle's implication is that directors must be reasonably informed but are not investigative by default. Awareness of Business Activities: Directors Must Understand What They Are Guarding A director must be sufficiently informed about a company's significant operations to oversee and fulfil their duties properly. On the facts of the case, the court concluded that the director had breached this duty because Goh was unaware of a major business line used as a fraud vehicle. The High Court described his ignorance as "striking at the very heart of his duty of skill, care, and diligence." The principle of knowledge requirement implies being unaware of key business lines breaches the duty. Sheer honesty, integrity, and intelligence are not substitutes for knowledge of business. Red Flags and Triggering a Duty to Inquire Whether identified events constitute red flags warranting further inquiry or whether these did not amount to clear warning signs of fraud was for the courts to decide. A director's obligation to investigate arises only when distinct and immediate signs point to wrongdoing—not merely when unusual corporate events occur. The red flags principle's implication is that only clear, specific indicators of wrongdoing would trigger the need for further inquiry. Causation: Linking Breach to Loss Is the Claimant's Burden Even where a breach of duty is found (as with a director's ignorance of the business), there must be a causal link to the loss suffered. It must be shown to the courts, on evidence, that the director's awareness—or subsequent actions—would have identified the fraud and averted the loss. An independent director could not be faulted for not acting upon red flags, but more critically, the defendant failed to prove that his breach directly caused the loss. This confirms that in director-duty cases, establishing causation is essential before damages can follow. There must be causation—the breach must be directly linked to the preventable harm for damages to follow. Creditor Duty: When the Company Is Insolvent A director's duty may extend to creditors when the company becomes insolvent or is nearing insolvency. While the High Court initially held that Goh breached his creditor duty by allowing drawdowns during near-insolvency, the Appellate Division rejected this, noting two points. Firstly, IPP failed to prove the fraud would have been discovered or the loss avoided had Goh acted differently. Secondly, though knowledge of cargo trading was lacking, no clear wrongdoing could be attributed to Goh regarding approval of these drawdowns. Thus, without proven causation, even breaches of creditor duty do not automatically give rise to liability. Creditor duty applies in insolvency but still requires causal proof. Practical and Commercial Realities in Director Oversight The court stressed its recognition of practical and commercial limits, acknowledging that directors—especially non-executives—cannot be held liable for deep-seated, well-concealed frauds without tell-tale signs. The Singapore Institute of Directors called the judgement "welcome clarity" on the true scope of directors' duties, reassuring directors that oversight does not require forensic-level diligence in the absence of warning signs. Nonetheless, the decision does not absolve directors from responsibility; ignorance and inattention—in the face of evident wrongdoing—still carry liability. There are practical limits—directors aren't expected to perform audits or detective work when there are no warning signs.
