
N. Sembilan ready to welcome arrival of delegates attending ASEAN meeting
State Tourism, Arts and Culture Committee chairman Nicole Tan said their preparations included aspects such as cleanliness, beautification, landscaping and programme content that will highlight the unique culture and traditions of Negeri Sembilan, particularly the state's unique adat perpatih.
'Our preparations are almost complete, just a few areas that need further improvement to ensure everything is in perfect order for us to welcome the arrival of the delegates.
'This welcome reception will also be a platform to promote the Visit Negeri Sembilan Year 2026 by showcasing the state's cultural uniqueness, scenic views, traditional local cuisine, warm hospitality and tourist attractions,' she told reporters after officiating the launch of the Port Dickson Festival 2025 here yesterday.
Several ASEAN-related meetings and programmes are scheduled to be held in Negeri Sembilan on Sept 9-10, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT) and the East Asia Summit (EAS), in addition to the 15th ASEAN Maritime Forum and 13th Expanded ASEAN Maritime Forum.
Malaysia officially took over the ASEAN Chairmanship on Jan 1, with the theme 'Inclusivity and Sustainability'. Malaysia has previously chaired ASEAN in 1977, 1997, 2005 and 2015.
Meanwhile, Tan said that 10,000 visitors are expected to attend the four-day Port Dickson Festival, which began Thursday, involving 60 traders, including influencers.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


New Straits Times
4 hours ago
- New Straits Times
Status quo of low OPR until June 2026: Expert
KUALA LUMPUR: The current low interest rate environment, following Bank Negara Malaysia's move to cut the Overnight Policy Rate (OPR) by 25 basis points, may remain at least until the first half of next year, an expert said. CIMB Bank Bhd chief investment office Ng Boon Hoa said Bank Negara appears to be taking a cautious approach in supporting the nation's economic growth. This is particularly in light of the risks from a potential global slowdown and the uncertainty surrounding Malaysia's yet-to-be-finalised tariff negotiations, he added. "We expect Bank Negara to maintain the current interest rate at 2.75 per cent at least until mid-2026. "It is rather difficult to make precise projections for 2027 and beyond, as external factors are constantly changing," he said during the presentation of CIMB's Asean Market Outlook in conjunction with the bank's Asean media day here today. According to Ng, the recent rate cut was a preemptive measure to absorb near-term uncertainties in economic growth. "If the current rate successfully spurs growth, Bank Negara is likely to remain comfortable with this level. Rate hikes would only be considered if there is significant strengthening in growth, possibly in 2027 or 2028, and even then, likely only once or twice," he said. Commenting on foreign fund flows, Ng said the domestic bond market is currently benefiting from these inflows, which in turn enhances liquidity in the financial system and supports lower borrowing costs. However, he cautioned that excessive inflows could risk contributing to inflationary pressures over the longer term and would require close monitoring by the monetary authorities. "Foreign funds can flow in and out quickly. We need to be cautious. The ringgit has shown some strengthening thanks to these inflows, but currency movements can change abruptly," he said. He pointed to the one per cent depreciation of the ringgit against the US dollar over the 20-day period since the end of June as an example of the uncertainties facing the local market.


The Star
4 hours ago
- The Star
US trade talks raise possibility of more M&A interest in local banks
KUALA LUMPUR: Malaysia's potential move to ease foreign equity limits in its banking sector could open the door to increased merger and acquisition (M&A) interest from regional players, particularly targeting smaller banks such as AMMB Holdings Bhd (AmBank), MBSB Bhd , and Affin Bank Bhd , according to MBSB Research. The research house, formerly known as MIDF Research, said that while the US has reportedly asked Malaysia to lift foreign-equity restrictions in strategic sectors as part of ongoing tariff negotiations, regional investors are more likely to lead the charge. 'We think more interest will come from regional players rather than the United States, especially countries such as China and Singapore, which have a strategic stake in Malaysia,' MBSB Research said. The research house pointed out that several Western players, including Citibank and Standard Chartered, had exited the Asean market in recent years due to intense competition. MBSB Research said AmBank remains a long-discussed M&A target due to its relatively smaller size and improving fundamentals, along with speculation that founder and key shareholder Tan Sri Azman Hashim 'is willing to part with some shares if the valuation is acceptable'. For Affin Bank, the research firm noted that Bank of East Asia is understood to have been seeking to divest its stake for some time. Currently, Malaysia imposes a 30% cap on foreign ownership of commercial banks and a 70% limit for investment and Islamic banks, but these thresholds have often been bypassed. 'We think these thresholds have often been bypassed to avoid single-exposure risk, as there are not sufficient domestic investors,' MBSB Research noted. By comparison, Malaysia's rules are among the most restrictive in the region, the research house said. It said Singapore allows up to 40% foreign ownership in domestic banks, while Vietnam raised its cap to 49% for selected banks in May, up from 30%. Thailand limits foreign ownership in commercial banks to 25%. In Indonesia, the cap is 40%, but higher stakes are possible with Bank Indonesia's approval, provided the acquiring party meets requirements including public listing and sufficient capital strength. According to MBSB Research, financial liberalisation 'does have multiple benefits, most notably driving foreign direct investment interest and industry-wide improvements in efficiency and profitability. Unfortunately, this may come with large-scale rationalisation of work forces.' The research house highlighted several upsides of financial liberalisation, including increased competitiveness in the banking sector through the introduction of global expertise, advanced technology, and improved risk-management practices. It also expects higher foreign capital inflows and stronger corporate governance as a result of greater foreign participation. Additionally, MBSB Research said increased competition could lead to better service quality and higher profitability across the industry, which would support improved valuations. However, it cautioned that liberalisation may also lead to workforce rationalisation, especially as banks consolidate and continue to digitise their operations. Overall, MBSB Research maintained its 'neutral' stance on the banking sector, citing limited near-term re-rating drivers and persistent macroeconomic headwinds. The research house said it continues to favour a bottom-up stock-picking approach, with a preference for defensive names, due to the 'presence of industrywide headwinds, while tailwinds vary on a case-by-case basis'. 'An improved economic outlook remains the core re-rating driver, but we are not expecting this anytime soon,' the research house said, adding that 'sentiment is further weighed down by any possible reinstatement of the goods and services tax and petrol subsidy removal'. The research house named Public Bank Bhd and Hong Leong Bank Bhd as its top picks.


Daily Express
4 hours ago
- Daily Express
No compromise on Bumi policy during US tariff talks, says Anwar
Published on: Monday, July 21, 2025 Published on: Mon, Jul 21, 2025 By: FMT Reporters Text Size: Prime Minister Anwar Ibrahim today said that the US must respect certain boundaries during the ongoing negotiations on reducing the tariff imposed on Malaysian products. (Bernama pic) PETALING JAYA: Malaysia will not compromise on its Bumiputera policy during ongoing tariff negotiations with the US, said Prime Minister Anwar Ibrahim. Anwar said that while Malaysia valued its trade and investment ties with the economic superpower, Putrajaya remained firm that there must be clear boundaries or 'red lines' in the negotiations. Advertisement 'The Cabinet has discussed this multiple times, but we have our position, we have our red lines – and we're prepared to face the risks,' he said, reported Berita Harian. 'What is that red line? Do not interfere with our national policies. 'They (US) say the Bumiputera policy is discriminatory. We say it's not. Malaysia stands by the policies we have adopted… This is our red line,' he said during the monthly assembly of the Prime Minister's Department in Putrajaya. Anwar, who is also the finance minister, added that procurement and opportunities for local companies must be protected during negotiations with the US. He said Malaysia was committed to safeguarding its national interests while continuing to strengthen trade relations with other countries, including China and Asean member nations, to expand market access. 'We must continue to trade and engage constructively with all countries, but no country should be allowed to impose conditions that put pressure on us,' he said in a Bernama report. Negotiations between Malaysia and the US have been ongoing following the announcement of a 25% tariff on Malaysian goods earlier this month. The tariff is expected to take effect on Aug 1. The Office of the US Trade Representative (USTR) previously cited Malaysia's halal import rules and Bumiputera equity requirements as barriers leading to the 24% tariff initially imposed on April 2. In its 2025 National Trade Estimate (NTE) Report on Foreign Trade Barriers, the USTR said that Malaysia's halal standards exceeded international norms, requiring dedicated halal-only facilities and involving complex registration processes, which raised costs and delay exports. The report also highlighted investment barriers, particularly the requirement for 30% Bumiputera ownership in foreign-owned firms and restrictions in sectors such as oil and gas, media, and public procurement. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia