Sultan of Brunei keen to visit Malaysia for Asean summit
BANDAR SERI BEGAWAN: Sultan Hassanal Bolkiah has expressed a strong interest to visit Malaysia, particularly to attend the upcoming Asean Summit and related forums.
Deputy Communications Minister Teo Nie Ching said the Brunei Sultan conveyed this during an audience granted to her and Asean information ministers at Istana Nurul Iman, held in conjunction with the 17th Conference of Asean Ministers Responsible for Information and Related Meetings here on Thursday (May 8).
"His Majesty said he is very much looking forward to visiting Malaysia, especially with the upcoming Asean-Gulf Cooperation Council and China Economic Forum taking place in less than two weeks,' she told Bernama.
Teo conveyed her sincere appreciation to Sultan Hassanal Bolkiah for granting the audience and thanked Brunei for its steadfast commitment to strengthening regional cooperation in the fields of information and communication.
Teo is leading the Malaysian delegation to conference, which concluded on Wednesday.
Also present during the audience were the deputy secretary-general of Asean for the Asean Socio-Cultural Community, San Lwin, senior information officials, and representatives from Asean Plus Three dialogue partners, China, Japan and South Korea.
The 46th Asean Summit, scheduled for May 26-27, will convene leaders from the bloc's 10 member states to address regional challenges, promote economic cooperation and advance the shared principles of inclusivity and sustainability.
Malaysia assumed the Asean Chairmanship from Laos on Jan 1, 2025, under the theme "Inclusion and Sustainability,' reflecting its commitment to fostering a united, resilient and forward-looking Asean community.
This marks Malaysia's fifth term as Asean Chair, having previously held the position in 1977, 1997, 2005 and 2015.
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Daily Express
32 minutes ago
- Daily Express
What next for PKR and Sabah PKR?
Published on: Sunday, June 01, 2025 Published on: Sun, Jun 01, 2025 By: Teddy Chin Text Size: The dust following the party election is just beginning to settle down and Nurul is eager to get to work. What now for PKR? So the Parti Keadilan Rakyat (PKR) election has ended. Party president cum PM Datuk Seri Anwar Ibrahim was returned unopposed. His daughter was elected the new Deputy President, defeating incumbent Rafizi Ramli who is a Minister in Anwar's Cabinet. This means that for the first time, PKR is led by a father-daughter team. It's historic in Malaysian politics, too. In his closing address at the PKR Congress, Anwar shot down talks of nepotism. Advertisement Tracing PKR's history, Anwar said when he was going to jail, he persuaded his wife to take over the party which Kak Wan agreed and for which he was grateful. 'It was a difficult time in the young PKR's struggle. At that time nobody said it was nepotism. Few people even dared to join the Opposition. 'But Nurul Izzah was elected by you all,' he reminded the party delegates, to applause from them. Indeed, Nurul Izzah had won from Day One. She got 200 nominations out of 222 parliamentary divisions. Had she lost, there must be something wrong somewhere. The dust following the party election is just beginning to settle down and Nurul is eager to get to work. What now for PKR? Party members expected Rafizi to keep his promise of resigning from his Minister post as he said he would if he lost the Deputy Presidency. The election was held last Friday. Rafizi didn't turn up the next and final day of the party Congress on Saturday in Johor. His press secretary said he had returned to Kuala Lumpur. Then on Monday he showed up at his ministerial office for work as usual and rumours had it that he was at the office to pack and resign. Wrong. Rafizi turned up for work to ask his officers to brief him on his role, if any, during the Asean Summit on Tuesday and Wednesday. Then on Tuesday, he showed up at the Asean meeting in his role as Economy Minister, accompanying the PM. Then on Wednesday, immediately after the Asean 'do', he resigned. It was quite responsible and sporting of him to show up at the Asean function as Economy Minister as required. Had he been absent on purpose, wouldn't that make Malaysia a laughing stock in the eyes of the World particularly Asean? But that's not the end of the story. On the same day, another Minister, Nik Nazmi also resigned following Rafizi's footsteps. Nazmi was in Rafizi's camp during the party election and he failed to defend his Vice-Presidency. But he didn't do too badly. He missed the boat by just about 100 votes. Only four Vice-Presidents were to be elected and Nik Nazmi was No 5. He got 5,556 votes while the No 4 successful candidate, Chang Lih Kang received 5,757 votes. The consolation was that Chang an incumbent and also a Minister, was in Rafizi's camp too. So now there are two vacancies. Expected to be the new Ministers are Nurul Izzah and another successful Vice-President, newcomer Ramanan who got the second highest votes among the four. But this is only on the assumption that the posts will be given back to PKR. For Nurul to be appointed, she would first have to be made a Senator as she is not an elected MP. If indeed Nurul is appointed, it will be another history in the political annals of Malaysia. Will this mean the breaking up of PKR? I don't think so. Nobody is indispensable. Somebody will replace you. As the Malay saying goes, 'Patah Tumbuh, Hilang Berganti'. When you are No.2, then behave like a No.2. The political history of Malaysia, let alone the world, is full of stories of the No.1 ''etting rid' of the No.2 when he becomes suspicious. Azmin Ali used to be Deputy PKR president until he ran foul of Anwar. Perhaps having been Selangor MP for two terms and appointed as Economy Minister by Dr M had some effect. During the last PKR Congress that Azmin attended, he was not even invited to deliver a closing address as Deputy President as was the custom. What a humiliation. But Anwar himself was a victim when he was Dr M's deputy. History repeating itself? The Old Man was probably jealous when an international magazine put Anwar's face on its cover. Anwar was then Finance Minister. Anwar was also given top protocol treatment when he visited USA as if he were the PM. Another incident which could have aroused the Old Man's jealousy was when Malaysia hosted the Commonwealth Conference. There was a dinner hosted by the British Government. It was on the Queen's royal yacht and Queen Elizabeth herself was there as Head of the Commonwealth. In her speech, British PM Margaret Thatcher said: 'If Finance Ministers are transferable, then I don't mind having Mr Anwar as my Finance Minister….' You can imagine how the Old Man felt on hearing that. Moral of the story – Never try to overshadow or outshine your boss! Coming back to the PKR election, no one from Sabah made it to the Supreme Council. Sabah PKR Information Chief Razeef Rakimin who had the blessings of the State PKR Leadership to contest only managed 2,920 votes compared to the last candidate who won and got 4,366 votes. Razeef is also the Tuaran PKR divisional chief and was recently reelected to that post. However, the Tuaran division is believed to be one of the four PKR divisions in Sabah who nominated Rafizi instead of Nurul. He was also not present at Nurul's event at SICC in May but instead attended Rafizi's function at ITCC on the same day. However, it is understood that a few of his divisional committee members defied him and went to SICC instead of ITCC. Sabah PKR chief Datuk Mustapha Sakmud himself did not contest as he would be invited to the party's supreme council meeting as State head. Instead he gave his blessings to Razeef at a press conference. But it is an open secret that Mustapha supported Nurul and was present and gave a speech at SICC when she came. Now that Razeef failed to get elected to the central committee, will his Sabah PKR Information Chief position be at stake or will Nurul replace him with one of her supporters? Datuk Christina Liew perhaps? It remains to be seen. This is politics. Anything can happen. Christina is close to the whole Anwar family including Nurul. When Nurul was in Kota Kinabalu to attend the SICC function, Christina accompanied her to Kota Belud for a party function after that. Another Sabah PKR leader who contested for a seat in the central committee was Sangkar Rasam. He is Keningau PKR head and he got more votes than Razeel although he too lost. He got 3,229 votes compared to Razeef's 2,920. Sangkar's name appeared in Nurul's 'Cai Dan', meaning he was in Nurul's team. Although he lost, he may be appointed to a position by Nurul. But who is this Rasam? A few years ago, he replaced Christina as Sabah PKR chief. How it happened or who was behind him, to borrow Dr M's words, 'I can't remember'. However, late last year or early this year, Rasam in turn was replaced by Mustapha Sakmud. How it happened? Again, I forgot. Anyway, politics is a game of being in the right team. Now that Nurul is elected, Rasam may see his fortunes coming back soon. However, he is neither a MP or Senator or Assemblyman. Mustapha is the MP for Sepanggar and Higher Education Minister. It is also possible that Rasam may replace Razeef as Information Chief. I am not sure how many Nominated or Appointed posts are there to the PKR central committee, if any. Assuming vacancies do exist, both Christina and Rasam stand a chance. However, Sabah PKR women folks had better luck at the party election. Rufinah Pengeran from Pensiangan was elected one of the three Vice Women Chiefs of PKR. She got 2,518 votes, far ahead of her closest rival who received only 1,574 votes. Another Sabah PKR leader who contested but failed to win a seat in the central committee was Dikin Musah who got 1,318 votes. He is the Beaufort PKR divisional chief. If I am not mistaken, he was also the PKR candidate for Beaufort in the 2022 MP election which was won by Umno. Not sure if he was in anybody's camp in the recent election. Now that no Sabah delegate won a seat at the central level, it remains to be seen whether anyone will be appointed and who he or she is. Nearer home, Sabah PKR is now in the safe hands of Datuk Mustapha Sakmud. He took over from Sangkar who in turn took over from Christina Liew. So full circle now. Sabah PKR has been associated with the name Christina for more than a decade. She has been the face of PKR which culminated in her being appointed a Deputy Chief Minister in 2018, the first Chinese woman to hold that post. But all good things must come to an end. In late 2020, the Warisan+ Sabah government which includes PKR and DAP and Upko lost the election and Christina found herself in the Opposition overnight. But as Kak Wan (Anwar's wife) said: 'Manusia merancang, Tuhan turut merancang' (Man plans, God also plans). Early 2022 Christina found herself a Minister again in the same Tourism Ministry after PH (DAP, PKR, Upko) threw their weight behind Hajiji who survived a coup planned by former comrades in Umno. But perhaps not many Sabahans remember that Christina actually took over from the late Datuk Lajim Okin as Sabah PKR chief last time after the latter left PKR to form his own party based in his native Beaufort. Lajim formerly of Umno and Datuk Seri Panglima Wilfred Mojilip Bumburing joined PKR at about the same time when then Opposition leader Anwar came over to Sabah. Anwar spoke at Bumburing's property in Tuaran and Lajim's hometown in Beaufort. In the 2013 election, Lajim won in Beaufort, Bumburing in Tamparuli and Christina in Api-Api. After the election and the State Assembly sat, an Opposition Leader with official perks was to be elected. The fight for the post was between Lajim and Bumburing. But the Speaker announced that Lajim received more votes from Opposition Assemblymen than Bumburing. Christina became Lajim's deputy. A frustrated Bumburing soon formed Parti Cinta Sabah (PCS), saying that he was never officially a PKR member. PCS is now led by Senator Tan Sri Anifah Aman while Bumburing returned to Upko where he was deputy president (to Dompok). Christina continued to lead Sabah PKR until about a couple of years ago. She even led Sabah PH until she lost to the Upko president recently. To add insult to injury, she even lost her PKR divisional chief post to her aide recently. But by now Christina is mature in politics and she now concentrates on her duties as Tourism Minister and Api-Api Assemblywoman. Being aligned to Nurul, Sabahans have not seen the last of Christina. In fact, when Christina first joined PKR in 2001 and stood in the Likas by-election the same year, the PKR president was still Kak Wan and the Sabah PKR chief was Datin Saidatul Badru Tun Said Keruak, sister of former Chief Minister Datuk Salleh. Lajim and Bumburing were not in PKR yet. That is how long Christina has been in PKR and that explains why she is close to Kak Wan. She supported PKR and Kak Wan when not many Sabahans dared to. She deserves to be rewarded by Anwar and Nurul. She also deserves to be appreciated by CM Hajiji because when Sabah PH threw their weight behind him, Christina was the Sabah PH Chairperson.
New Straits Times
41 minutes ago
- New Straits Times
Analysts tie Stonepeak's Yinson interest to FPSO boom
KUALA LUMPUR: Stonepeak Partners' interest in Yinson Holdings Bhd may stem from surging global demand for floating production storage and offloading (FPSO) vessels, which, according to Energy Maritime Associates, is projected to top US$88 billion over five years, analysts said. The New York-based infrastructure investor is reportedly in exclusive talks to acquire Yinson, potentially valuing the Malaysian energy infrastructure firm at up to RM9 billion, making it one of the country's largest deals this year. On June 6, reports emerged that Stonepeak is in exclusive discussions to buy out Yinson, citing sources familiar with the matter. The deal involves collaboration with the Lim family, Yinson's founder and largest shareholder, which held a 26.6 per cent stake as of May 30, aiming to take the energy infrastructure firm private. Analysts see the deal as a strategic fit. Stonepeak's focus on infrastructure-backed, cash-generating assets aligns with Yinson's core FPSO business, which includes long-term contracts across Africa, Asia, and South America. The acquisition would also expand Stonepeak's presence in Asia-Pacific energy infrastructure, an analyst told Business Times on condition of anonymity. However, Yinson has clarified that it is not in discussions with any third party in respect of a buyout exercise. Executive chairman Lim Han Weng said the company is currently engaged in exploratory talks with various parties on potential corporate proposals related to its shareholding. "However, given that the discussions are still at an exploratory stage, there is currently no conclusive indication that the discussions would give rise to a corporate proposal involving Yinson," it said in a filing to Bursa Malaysia on Monday. Crown jewel The FPSO business is the crown jewel of the Lim family empire. Yinson, controlled by founder Lim Han Weng and son Lim Chern Yuan, is currently the second-largest FPSO operator globally. "The Lims have built Yinson into a well-oiled money machine. They have transformed Yinson into a highly efficient and profitable operation, making it an attractive takeover candidate," the analyst said. Lim (Chern Yuan) revealed in an April Forbes interview that Yinson plans to bid for three mega-FPSO projects, worth at least US$1.5 billion each in that period. While he did not disclose details of the bid, Maybank Investment Bank analyst Jeremie Yap believed they could be in Ghana, Ivory Coast and Malaysia. Yap wrote in a March research note that given Yinson's track record, it is well positioned to win future projects and could be a preferred choice for the bids. Meanwhile, CIMB Research Sdn Bhd said that the RM9 billion valuation translates to RM3.23 per share, a 38 per cent premium over Yinson's last close of RM2.34 and 10.2 per cent above the research firm's target price of RM2.93. If confirmed, this could pave the way for a privatisation offer, the firm said in a note. Yinson's shares have declined 23 per cent over the past year, partly due to the post-tariff market downturn. Following news of the potential buyout, Yinson's share price jumped 13.8 per cent on June 6, its largest single-day gain since 2019, narrowing year-to-date losses from 33.7 per cent to 11.4 per cent and lifting its market capitalisation to RM6.5 billion. CIMB highlighted that the exclusive negotiations indicate advanced discussions involving the Lim family. Stonepeak's interest aligns with its strategy to invest in infrastructure-based, cash-generating assets with long-term contracts, characteristics exemplified by Yinson's FPSO business. "This deal would also help Stonepeak increase its exposure in Asia Pacific energy infrastructure, where Yinson has already established a solid and growing footprint. However, Yinson has declined to comment, stating that the information remains unverified," CIMB said. Yinson's portfolio includes a solid project backlog valued at US$20.5 billion and eight active FPSO contracts. Its growing footprint in emerging markets, along with energy transition initiatives such as solar and battery storage, supports the premium valuation. Stonepeak would gain deeper access to the Asia-Pacific energy infrastructure sector through this acquisition. CIMB noted that Yinson's FY24 price-to-earnings (P/E.) ratio of 9.5x, though higher than the industry average of 8.2x, is justified by its scale, strong project pipeline, and exposure to energy transition. For comparison, peers SBM Offshore and Modec trade at 4.8x and 11.6x, respectively. Stonepeak is expected to value Yinson's strategic growth in FPSO contracts, especially after Yinson's recent efforts to strengthen its financial position, including raising US$1 billion in January 2025 from a consortium of institutional investors, and growth in its renewable energy segments, CIMB said. The US$1 billion funding round included top investors such as Abu Dhabi Investment Authority, British Columbia Investment Management, and RRJ Capital, supporting both FPSO expansion and the renewable energy portfolio. Despite a 22 per cent drop in net profit to RM752 million for FY2025, due to higher financing costs and lower engineering revenue, CIMB forecasts stronger results ahead, particularly with the Agogo FPSO expected to start production by September. CIMB maintains its Buy rating on Yinson, with a target price of RM2.93 and earnings estimates for FY2026–2028. Potential catalysts for re-rating include contributions from FPSO projects Maria Quiteria, Atlanta, and Agogo, alongside possible asset monetisation and privatisation. Risks remain, including possible delays or cost overruns in FPSO projects and ongoing losses in the green technology segment.
The Sun
41 minutes ago
- The Sun
Global Tourism Elites Gather for 'Night of Hainan'
SANYA, CHINA – Media OutReach Newswire – 9 June 2025 – On June 7, more than 450 global tourism industry representatives met in Sanya, China, for the Night of Hainan Tourism Promotional Event, where they learned about the province's tourism and cultural resources. At the event, guests were amazed by Hainan's natural beauty and cultural legacies showcased in the promotional video. They engaged in in-depth discussions on hot topics, including the latest visa-free policy for citizens from 85 countries, the opening of international air routes, and payment facilitation measures. According to the Hainan Department of Tourism, Culture, Radio, TV, and Sports, Hainan's visa-free policy for 59 countries, combined with China's mutual visa exemption policy with 27 countries and unilateral visa waiver policy for 47 countries, allows ordinary passport holders from 85 countries to enter Hainan without a visa. Tata Yam, director of Malaysian tour operator Tata Inn Holiday, said, 'These policies have significantly reduced the cost of travel for international tourists, especially for the family vacationers.' 'Hainan has holiday facilities and an environment that are not inferior to those in other regions, and activities like this help everyone to gain a deeper understanding of the province's tourism and culture,' said Jijo Madhavappallil, managing director of Ashin City Tours and Travels. Optimistic about Hainan's tourism potential, he added, 'I believe that we can jointly develop more attractive products and bring new travel experiences to global tourists.' During the event, guests will explore various parts of Hainan, conducting on-site inspections of its tourism resources, including tropical rainforest ecosystems, duty-free shopping facilities, and coastal resort amenities. The Hainan Department of Tourism, Culture, Radio, TV, and Sports expressed enthusiasm for sharing the opportunities and achievements of Hainan's Free Trade Port tourism and cultural sectors with global tourism industry partners. The goal is to foster mutual cultural and tourism exchanges, enabling international visitors to discover, understand, and embrace Hainan.
