Malaysia can lead in medicine security in Asean
THE recent declaration by Asean member states to bolster regional drug security, particularly under the Asean Drug Security and Self-Reliance (ADSSR) initiative, is a significant and commendable step forward.
This commitment, adopted during the 46th Asean Summit under Malaysia's 2025 Chairmanship, resonates deeply with the Malaysian pharmaceutical industry, which is well equipped to contribute significantly to this regional aspiration, particularly through its strength in high-quality generics and biosimilars manufacturing.
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Daily Express
42 minutes ago
- Daily Express
Now's as good a time as any to buy China-made cars
Published on: Thursday, June 12, 2025 Published on: Thu, Jun 12, 2025 By: Yamin Vong, FMT Text Size: BYD, for instance, has emerged as a leader in EVs and is iconic for its integrated supply chain, which includes battery production, rare earth supplies and its own record-setting 7,000 car capacity ocean-going car carriers. - FMT pic for illustration only. Now is a good time for people in Malaysia and Southeast Asia to buy Chinese cars. They offer good value for money, being about 30% cheaper than equivalent legacy car models, and are packed with features previously only offered in cars from premium brands that cost twice as much. However, the main disadvantage of Chinese cars is that they lack the legacy enjoyed by the 150-year old Mercedes Benz or Peugeot, or even the 118-year old Toyoda loom company which preceded the 88 year-old Toyota Motor Corporation. Advertisement To overcome that fear of the unknown, Chinese car makers who began global exports only about 10 years ago started with gimmicky but nevertheless mind-boggling vehicle warranties, such as a million kilometres for their internal combustion engines. While that phase is over, many Chinese EV makers still offer an outstanding eight-year 160,000km powertrain warranty covering electric motors, inverter and related drivetrain components to emphasise confidence in their core EV technology. Coming back to my main point, it's very simple. Malaysian and Southeast Asian car buyers are benefiting from China's industrial policy, which includes broad infrastructural subsidies for the car industry from the central government. On another level, many provincial governments in China compete in car manufacturing output to gain brownie points with the central administration. They provide incentives to the respective companies, such as export sales subsidies. It's understood that these export sales incentives can reach as much as RMB14,000 (RM7,800) per car. But it's not just subsidies that make China's cars cheaper than their legacy counterparts. China's automotive industry has emerged as a global leader in technological advancement. As a benchmark, its use of robotics has outstripped legacy car firms, significantly influenced by government policies and subsidies. The country's strategic approach has enabled various manufacturers – from state-owned giants such as Shanghai Auto (SAIC) and Beijing Auto (BAIC) to privately-held enterprises like BYD, Geely, Chery, and GWM – to thrive in a competitive market. Central to the Chinese government's policies is the 'Made in China 2025' initiative, which aims to elevate domestic manufacturing, particularly in high-tech sectors, including automotive production. This initiative seeks to reduce reliance on foreign technology, ensuring that Chinese carmakers can innovate and compete domestically and internationally. Moreover, Beijing's policies have focused heavily on promoting EVs both to improve energy security as well as to reduce carbon emissions. Subsidies for EV manufacturers have been generous; for instance, substantial financial incentives are provided to consumers purchasing electric cars, which in turn propels sales and encourages manufacturers to invest in research and development. These measures have resulted in a dramatic increase in EV production, placing China at the forefront of the global market. State-owned firms like SAIC Motor and Dongfeng Motor benefit from government backing and preferential access to funding, enabling them to invest in large-scale production facilities and enhance their technological capabilities. These companies can navigate the complex regulatory environment more effectively than private firms due to their established connections and resources. On the other hand, private companies like BYD, Chery, and GWM have leveraged the supportive environment fostered by government policies to carve significant market share. BYD, for instance, has emerged as a leader in EVs and is iconic for its integrated supply chain, which includes battery production, rare earth supplies and its own record-setting 7,000 car capacity ocean-going car carriers. China also made an unprecedented concession for Tesla, the world's leading EV innovator, allowing it the distinction of being the only 100% foreign-owned company permitted to manufacture its cars in China. The objective was to galvanise domestic Chinese EV makers to improve their cars to world-class status in competing with Tesla. Beijing's alignment with sustainable development goals has facilitated Tesla's growth, with subsidies for EV purchases benefitting its sales. Additionally, the cooperation between Tesla and local suppliers has allowed it to optimise its supply chain while adhering to local regulations. As a result, the price of Tesla cars in Malaysia are the cheapest in the world, after Shanghai, where the Tesla Model Y is made. Note: I'm not one to refuse subsidies and, after some budgeting, I've bought my first Chinese car, an EV, for RM100,000. Out of the more than 50 cars that I've owned in my lifetime, this is only my second new car. The first was a Toyota Prius hybrid which I bought for RM100,000 12 years ago, when hybrid cars were duty-free. This hybrid is still a reliable daily runner and delivers super fuel efficiency. Now entering the era of electrification, I want to experience how this BEV, as a representative of China's EV industry, performs. Read this column for updates. # The views expressed are those of the writer and do not necessarily reflect those of FMT.
The Star
an hour ago
- The Star
Two more Malaysian haj pilgrims pass away, total deaths reach 13
MECCA: There have been two more deaths of Malaysian haj pilgrims, bringing the total number of deaths to 13, says Datuk Dr Mohd Na'im Mokhtar. The Minister in the Prime Minister's Department (Religious Affairs), in a statement on Thursday (June 12), said the two died early this morning at their respective hotels. "The first pilgrim, Ghazali Ab Rahman, 74, from Selising, Kelantan, passed away at the Al-Janadiriyyah Towers hotel, at 4am (Saudi time) due to a heart attack. "The second pilgrim is Hasmi Mohd Bojeng, 78, from Sibu, Sarawak. She passed away at 5:21 am (Saudi time) at the Rehab Al-Janadiriyyah hotel, also due to cardiac arrest. "Both deaths were confirmed by Tabung Haji medical personnel, namely Dr Syafiq Haziq Mahadi and Dr Wan Mohd Hafizullah Wan Mansor. "I extend my deepest condolences on the passing of two Malaysian Hajj pilgrims. This brings the total number of Malaysian pilgrim deaths for the 1446H/2025M Hajj season to 13," said Mohd Na'im. More than 31,600 Malaysians performed the hajj pilgrimage this year, which concluded on June 9. Malaysian pilgrims are set to begin returning home from June 14 onwards.
New Straits Times
2 hours ago
- New Straits Times
Bank Negara to implement flexible funds repatriation, conversion programme on July 1
KUALA LUMPUR: Bank Negara Malaysia is set to fully implement its Qualified Resident Investor (QRI) programme for eligible corporates effective July 1. The programme offers flexibility for Malaysian companies that repatriate and convert foreign currency funds from overseas investments and may have interest to undertake new or further direct investment abroad in the future. To enjoy the flexibility, the companies must first bring home any foreign earnings from their overseas investments and convert that money into ringgit upon successful one-off registration with Bank Negara. These companies can then invest more money abroad later without needing to ask the central bank for approval each time. "Eligible corporates include all resident corporates that repatriate and convert foreign currency proceeds from overseas investments and demonstrate good corporate governance and compliance with the foreign exchange policy of Bank Negara," it said in a statement. The programme will be available until June 30, 2028. The full rollout follows the success of the pilot programme, which was introduced in April 2024.
