News@9: Today's top headlines - August 1, 2025 [WATCH]
The United States has revised its tariff on Malaysian imports to 19 per cent, following a presidential order issued by the White House.
Malaysia will host the upcoming Cambodia-Thailand General Border Committee meeting following a successful ceasefire, with pre-council discussions beginning Monday.
The mother of a 13-year-old girl who died after falling from a Sabah school hostel has called for her daughter's body to be exhumed for a post-mortem, citing unresolved questions and possible bullying.
Orange economy in 13MP
The creative sector, also known as the orange economy, will be included in the 13th Malaysia Plan after consultations between the Communications and Economy Ministries.
That's it for News@9.
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New Straits Times
13 minutes ago
- New Straits Times
Construction index jumps 3.1 per cent
KUALA LUMPUR: Bursa Malaysia Construction Index jumped more than three per cent following the government's announcement of a RM430 billion development expenditure (DE) under the 13th Malaysia Plan (13MP). At the close of trading, the Construction Index surged 3.10 per cent or 9.65 points to end at 321.17, up from 311.52 previously. The strong performance placed the construction sector at the top of the market, outperforming all other sectors. Financial services followed with a 1.91 per cent gain, while other advancing sectors included technology, which rose 1.05 per cent, property up 0.95 per cent, energy adding 0.17 per cent and real estate investment trusts up 0.17 per cent. On the downside, telecommunications and media fell 0.80 per cent, plantation dipped 0.33 per cent, consumer products and services declined 0.28 per cent, and utilities slipped 0.27 per cent. Transportation and logistics dropped 0.3 per cent, while healthcare ended 0.2 per cent lower. The broader market also saw moderate gains, with the FTSE Bursa Malaysia KLCI climbing 20.10 points, or 1.33 per cent, to settle at 1,533.35, as investors reacted to the long-term economic outlook presented in the 13MP. Ekovest Bhd emerged as one of the most actively traded construction stocks, with 62.79 million shares changing hands by the close. The counter rose 4.82 per cent, gaining two sen to end at 43.5 sen. Other notable construction stocks included Gamuda Bhd, which recorded a trading volume of 22.74 million shares, followed by WCT Holdings Bhd with 16.57 million, Econpile Holdings Bhd at 16.07 million, IJM Corporation Bhd with 13.50 million, and Bina Puri Holdings Bhd with 10.43 million shares. Prime Minister Datuk Seri Anwar Ibrahim tabled the 13MP in Parliament on Thursday, outlining a RM430 billion allocation for development spending between 2026 and 2030, up from RM415 billion under the previous plan. Key infrastructure initiatives under the 13MP include the continuation of the East Coast Rail Link to strengthen east-west connectivity, and the Gemas–Johor Bahru double-tracking project to improve rail transport in the south. In Johor Baru, the government will roll out an Electrified Economic Rail Transit system to enhance regional mobility. Penang's public transport network will also be expanded through the Light Rail Transit Mutiara Line, while the cross-border Rapid Transit System Link is expected to improve connectivity with Singapore. In East Malaysia, the Pan Borneo Highway and a feasibility study for the proposed Trans-Borneo Railway are expected to enhance inter-state transport infrastructure in Sabah and Sarawak. The plan also includes upgrades to Penang and Miri airports to support the growth of tourism and logistics. CIMB Securities said the higher DE is expected to drive renewed momentum in public infrastructure spending starting from the fourth quarter of 2025. This momentum is likely to accelerate further in 2026 and 2027 ahead of the next general election scheduled for 2028. "We also anticipate increased DE spending in East Malaysia, where both Sabah and Sarawak are due to call for fresh state elections by 2025 and 2027 respectively," it added. Affin Hwang Investment Bank Bhd said the DE allocation is a positive catalyst for construction firms, driven by expectations of increased infrastructure spending. This is especially beneficial for larger contractors with strong balance sheets that are well-positioned to undertake public-private partnership projects such as Gamuda, IJM Corporation Bhd and Sunway Construction Bhd, which typically works in collaboration with its parent company, Sunway. RHB Investment Bank Bhd said the DE is expected to continue supporting infrastructure growth in the country. The firm maintained its "Overweight" call on the sector, citing expectations of a stronger pipeline of development projects under the plan.
New Straits Times
13 minutes ago
- New Straits Times
Exporters glad to remain competitive
KUALA LUMPUR: The United States' decision to reduce tariffs on Malaysian goods to 19 per cent has been welcomed by industry leaders and business groups as a timely move that could enhance the country's competitiveness in global trade. The Malaysian Furniture Council (MFC), Federation of Malaysian Manufacturers (FMM) and various export-focused companies said the adjustment, though modest, helps Malaysia better align with regional peers and navigate the challenges of an increasingly cost-sensitive global economy. Furniture exporters see strategic realignment Malaysian Furniture Council president Desmond Tan said the tariff reduction brings Malaysia's treatment more in line with that of neighbouring Asean nations, helping preserve its relevance within the regional supply chain. "Hopefully these latest tariffs can reduce uncertainty. However, exporters will still need to adapt to a higher-cost trade environment and continued support from the government remains valuable," he told Business Times. On whether the impact will be felt by Malaysian exporters, Tan noted that US importers typically pass some or all of the tariff costs to end consumers or back to exporters through pricing negotiations. "In the near term, we do not anticipate a significant spike in export volumes as a result of the tariff cut. However, our members are using this window to consolidate operations, strengthen relationships, and prepare for any future shifts in demand," he said. Small reduction, big impact FMM president Tan Sri Soh Thian Lai said the six-point cut, while appearing small on paper, holds significance for sectors operating on tight margins or within highly competitive global supply chains. "The tariff cut enhances the cost competitiveness of Malaysian-manufactured goods in the US market and reflects improved bilateral trade relations," he added. Soh said the reduction enhances the overall cost competitiveness of Malaysian-manufactured goods in the US market and serves as an important signal of improved bilateral trade relations. While some may argue that the impact on Malaysian exporters could be limited because US importers bear the tariff cost, he said FMM believes that the burden of tariffs is often shared across the supply chain. "Therefore, a reduction in tariffs benefits not only Malaysian exporters but also US importers. "It improves the overall cost equation and can stimulate demand for Malaysian goods, especially in sectors where price plays a crucial role in purchasing decisions," he said. Palm oil and energy exporters take long-term view Pacific Inter-Link Sdn Bhd (PIL) chairman and group chief executive officer Datuk Fouad Hayel Saeed Anam called the tariff reduction a positive signal. He noted that the direct impact may be limited in the near term as the company's growth strategy is more focused on Latin America, Middle East, West Africa and Central Asia. "However, for the broader industry, especially palm oil exporters targeting the US market, this tariff cut improves price competitiveness and could open up opportunities for processed and specialty products," he said. He also urged the government to intensify efforts to open up new markets and support sustainability and environmental, social and governance (ESG) compliance to build long-term export resilience. Opens door for bio-based exports and SME growth For Glide Technology Sdn Bhd, which specialises in sustainable transformer oils and advanced lubricants, the tariff cut presents immediate commercial potential. "We see this as a strategic validation of Malaysian-made products. It enables us to fast-track exports of our MPOB-Glide Palm Oil-Ester Transformer Oil and other bio-based fluids to the US market," said its president and founder Datuk Muhazli Muhamad. Muhazli added that the tariff reduction may encourage more local small and medium enterprises to explore the US as a viable market. To support long-term growth, he proposed four key enablers including expanded trade financing, tax incentives for ESG-compliant manufacturing, sector-focused trade missions and improved logistics infrastructure. "Malaysia stands at an inflection point. With the right structural enablers, we can move up the global value chain not just as participants, but as leaders," he said.
New Straits Times
an hour ago
- New Straits Times
Shamsul Azri: Projects under 13MP to be monitored regularly to avoid delays
PUTRAJAYA: Every project under the 13th Malaysia Plan (13MP) will be monitored regularly to ensure there are no delays in implementation, said Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar. Accordingly, he said the monitoring of projects under the 13MP will be jointly conducted by the Ministry of Finance and the Ministry of Economy, with reports to be made twice a year. "This time, we will really make sure that the 13MP is implemented as planned, because it spans a long period until 2030. "All approved projects must be implemented promptly, because any delay will cause disappointment among the people," he told reporters after officiating the MAPPA XX 2025 Run in Putrajaya today. Shamsul Azri said he will personally conduct site visits and make surprise inspections at all 13MP project locations. "Our aim is to serve the people and we are supposed to bring them joy. Therefore, we must implement development initiatives without delay and free from bureaucracy," he said. Prime Minister Datuk Seri Anwar Ibrahim, when tabling the 13MP in the Dewan Rakyat on Thursday, said the monitoring mechanism will be enhanced through the Policy Implementation Plan Monitoring System (PPD). "The 13MP governance structure will also be mobilised in stages, culminating in reports to the Cabinet," he said. Under the 13MP, Anwar said infrastructure and public facility projects involving flood mitigation and improved road accessibility are among the people-centric initiatives that will be prioritised from 2026 to 2030. He said a total of RM20 billion has been allocated to implement 103 Flood Mitigation Plan (RTB) projects to reduce the risks and impact of such disasters. In addition, one million units of affordable housing will be built by the Federal and State Governments, as well as private developers, from 2026 to 2035 to enable as many people as possible to live in safe and comfortable homes. Meanwhile, Shamsul Azri expressed appreciation to the approximately 12,000 participants who took part in the MAPPA XX 2025 Run in Putrajaya today. "Healthy citizens, prosperous nation. Let's be active and engage in sports," he said.
