Parliament meeting scheduled for June postponed one month, say sources
A notice issued to government MPs and sighted by The Star stated that the June 23 to July 31 meeting would now take place from July 21 to Aug 28.
"Among the key agenda are several government Bills and the tabling of the 13th Malaysia Plan (13MP)," read the notice.
Several government MPs confirmed they had received the notice.
On March 11, the Economy Ministry announced that it was in the final stages of preparing the 13MP document, with plans to table it at the next parliamentary meeting.
Deputy Economy Minister Datuk Hanifah Hajar Taib said 13MP, which will chart Malaysia's socio-economic development from 2026 to 2030, is being formulated in line with the objectives of the Madani economy framework.
"The 13MP is vital to ensuring Malaysia's successful transition to a high-income economy within the plan's timeframe," she said.
Several other important Bills expected to be tabled in the second meeting include the Gig Workers Bill, Urban Renewal Bill and the Cross-Border Insolvency Bill.
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New Straits Times
19 minutes ago
- New Straits Times
Bursa poised for gains on US tariff cut, 13MP rollout
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He said these sectors could see margin relief of between 10 per cent and 15 per cent, similar to the equity uplift experienced by the Philippines earlier this year after comparable tariff concessions. "US exemptions for semiconductors and pharmaceuticals safeguard Malaysia's high-value exports, preserving its position in global manufacturing networks and supporting earnings visibility for listed corporates," Sedek told Business Times. While US President Donald Trump recently threatened a 100 per cent tariff on semiconductor imports with exemptions for firms investing in US manufacturing, Sedek said the immediate impact on Malaysia is expected to be minimal. However, he cautioned that the sector may face supply chain recalibration if the tariff is implemented across major manufacturing hubs. Sedek said 13MP — with an RM611 billion expenditure framework for 2026–2030 — prioritises digitalisation, AI adoption, renewable energy and industrial upgrading. Major projects include Nvidia's RM10 billion AI facility and large-scale solar initiatives, which Sedek said could attract private investment and spur productivity gains. "Infrastructure and digitalisation efforts such as the Johor–Singapore Special Economic Zone and the GovTech transformation agenda will also drive structural improvements, echoing efficiency gains seen in Estonia's digitalisation push," he added. Given these tailwinds, Sedek projects the FTSE Bursa Malaysia (FBM KLCI) to trade between 1,570 and 1,585 in the coming months, keeping it on track for a year-end target of 1,650. However, he cautioned that global monetary tightening, geopolitical risks and commodity price volatility may temper gains. "Capital flows and exchange rate stability will remain critical to sustaining momentum. Policy agility and disciplined execution will be essential in translating these short-term catalysts into a durable re-rating of Malaysia's equity market," he added. Looking ahead, Sedek said the FBM KLCI may face several downside risks such as export sensitivity to global uncertainties. This includes the possibility of US tariffs cutting electronics and furniture export revenues by up to US$2 billion annually, even as Malaysia retains competitiveness over China. "Domestically, implementation inefficiencies in 13MP, such as bureaucratic delays, may undermine investor confidence in the RM611 billion investment plan," Sedek said. Apart from the lower tariff and 13MP rollout, Hong Leong Investment Bank (HLIB) Research said sentiment is also supported by rising odds of a US Federal Reserve rate cut as early as September. However, August could see guarded trading amid persistent foreign net outflows totalling RM14.21 billion year-to-date — the largest since the RM24.6 billion recorded during the pandemic-hit year of 2020. HLIB analyst Ng Jun Sheng said other headwinds include possible new US tariffs of up to 250 per cent on pharmaceutical products and up to 100 per cent on chips built outside the US. Sentiment may also be weighed by expectations of a subdued August earnings season and the index's historical seasonal weakness, with average returns over the past 10, 20 and 30 years at 0.7, 1.2 and 2.2 per cent, respectively. "On the domestic front, concerns surrounding subsidy rationalisation and a potential Sales and Service Tax expansion could further dampen consumer sentiment and cloud corporate earnings visibility," he said. The FBM KLCI staged a strong rebound from an eight-week low of 1,488.90 to close at 1,557 last Friday, marking its fourth straight gain and surging 23.6 points from the previous week. The gains were supported by easing US-Malaysia tariff tensions, a pragmatic 13MP rollout and supportive technical signals. Despite this, HLIB Research said underlying sentiment remained cautious, with market breadth still weak at 0.83 compared to 0.82 previously. Turnover stood at 2.43 billion shares worth RM2.72 billion. This came amid persistent foreign outflows for an 11th consecutive session, valued at RM1.13 billion last week, mostly in the financial services, healthcare and utilities sectors. Local institutions remained net buyers at RM1.03 billion, while local retailers bought RM105.5 million in equities. Average daily trading volume fell across the board, with foreign investors and local retailers down 6.6 per cent and 6.1 per cent, respectively, while local institutions recorded a 4.8 per cent increase.
The Star
27 minutes ago
- The Star
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The Star
28 minutes ago
- The Star
Mihas eyes stronger global reach
Shared growth: (From left) Morocco First Counsellor Mohamed-Ali El Kourmir, Libya Counsellor Ibrahim Ahmed Ibrahim, Palestine Ambassador Walid Abu Ali, Matrade board member Mohammad Medan Abdullah, Reezal Merican, Abu Bakar, Kazahkstan First Secretary Amir Aldazhanov and Czech Republic Ambassador Juraj Koudelka at the Mihas Foreign Mission Networking Hi-Tea. — YAP CHEE HONG/The Star KUALA LUMPUR: After setting a Guinness World Record last year for attracting 43,000 trade visitors, the Malaysia International Halal Showcase (Mihas) is aiming to draw more than 45,000 participants from over 45 countries this year. Malaysia External Trade Development Corporation (Matrade) chairman Datuk Seri Reezal Merican Naina Merican said Mihas 2025 will feature more than 2,300 booths across 14 industry clusters. 'These 14 clusters include education, Muslim-friendly hospitality and tourism, food technology and packaging, pharmaceutical and medical, franchise, Islamic art and crafts, and logistics. 'Mihas has continuously increased participation and footfall, which reflects the support from international partners,' he said during the Mihas foreign mission networking hi-tea at the Matrade exhibition hall yesterday. Reezal Merican said the achievement had helped them lead Mihas internationally. He said Matrade had launched Mihas in Dubai last year and would expand it to Shanghai this year. 'Hopefully next year, we will organise Mihas in the European region, where Malaysian halal businesses can showcase their businesses internationally. 'The global halal market is currently worth over US$3.5 trillion (RM14.8 trillion). It is expected to reach US$5 trillion (RM21.2 trillion) by 2030,' he added. Matrade deputy chief executive officer Abu Bakar Yusof said Mihas 2025 will feature a special Asean and Gulf Cooperation Council pavilion. 'The six GCC member states are experiencing rapid growth, making it timely for Malaysia to explore ways to contribute and create better market opportunities for businesses from both regions. 'Malaysia has sustained a strong position with more than 200 partners, and we are moving up in the ranks of trade globally,' he said. Abu Bakar also urged foreign traders to utilise the new Madani Digital Trade platform, an artificial intelligence-based system that helps match Malaysian halal exporters, especially small medium enterprises with international buyers to support genuine cross-border deals. Meanwhile, Matrade director of halal, food and beverage and agro-based section Yusram Yusof said Malaysia has led the overall global Islamic economy indicator ranking for 11 consecutive years in the halal industry. 'The halal industry stands in the top 10 among other industries, contributing RM161bil to this year's gross domestic product,' he said. Last year, Malaysia's halal exports were valued at RM61.8bil, marking a 15% increase from the previous year. 'The sector supports more than 350,000 jobs nationwide and is anchored by 14 halal parks, which have attracted RM3.8bil in investments and are home to over 300 companies. He also said Malaysia has come up with a comprehensive halal ecosystem. 'If there are good strategies in place, we can meet the target set by our Prime Minister to achieve RM80bil halal export,' he added. Recently, Prime Minister Datuk Seri Anwar Ibrahim, when tabling the 13th Malaysia Plan, said Malaysia hoped to achieve RM80bil halal export. Mihas 2025, themed 'Pinnacle of Halal Excellence', will be held from Sept 17 to 20 at the Malaysia International Trade and Exhibition Centre.
