Putra Heights fire victims seek temporary aid extension
Victims of the gas pipeline fire in Putra Heights, Subang Jaya, are hoping that temporary aid provided by various parties can be extended, as some of the assistance recently expired.
Two months after the incident on April 1, some victims are now in a quandary as they are required to return the aid, including rental homes, cars and motorcycles...
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The Star
17 minutes ago
- The Star
Sabah to host international event on rural social enterprise from Oct 31-Nov 4
KOTA KINABALU: A gathering to unite changemakers from across the globe with the aim of exchanging knowledge and networking purposes is set to take place in Sabah from Oct 31 to Nov 4. This gathering, which would involve entrepreneurs and representatives of rural communities, will be held at the Sabah International Convention Centre here. The Rural Social Enterprise Gathering is held in conjunction with the Social Enterprise World Forum (SEWF) which takes place in Taipei, Taiwan from Oct 27 to Oct 31. 'This gathering will catalyse hands-on learning, cross‑sector collaboration and sustainable solutions for local challenges,' said Sabah Creative Economy and Innovation Centre (Scenic) chief executive officer Viviantie Sarjuni. Gerry Higgins, founder and managing director of Social Enterprise World Forum (SEWF) said the event would offer an opportunity for rural social enterprises from every continent to enhance their understanding of the approaches and solutions delivered by rural communities in Sabah and around the world. 'Rural communities often have more in common with their counterparts in other countries than with their urban neighbours, so SEWF is proud to support the innovation and commitment of Scenic to create this opportunity for exchange of best practice and learning,' he said. This event is hosted by Scenic in partnership with SEWF and the state Science, Technology and Innovation Ministry (KSTI). Participants will have the opportunity to engage directly with rural social enterprises through a learning visit to rural social enterprises in Sabah and a forum with dynamic discussions and knowledge-sharing sessions. After the SEWF 2025 in Taipei, delegates will travel to Sabah for the Rural SE Gathering, further solidifying the state's role as a key player in advancing social enterprise initiatives. Sabah, located in East Malaysia, is the second-largest state in Malaysia and home to a diverse population of over three million people comprising more than 30 ethnic groups, including the native Kadazan-Dusun, Bajau, and Murut. Despite its natural beauty and cultural richness, Sabah faces economic challenges, particularly in rural areas. Social enterprises are growing in Sabah as innovative solutions to address these challenges by empowering communities, creating sustainable livelihoods, and leveraging local resources to promote grassroots economic development. Those who wish to be part of this event can get more information or purchase tickets at with early bird rates available until June 21, and standard rates available up to Oct 15.
Daily Express
22 minutes ago
- Daily Express
Sabah GLCs mostly ‘blackholes'
Published on: Saturday, June 07, 2025 Published on: Sat, Jun 07, 2025 By: David Thien Text Size: From left – Adi, Roger Chin, Lo and Haffisz. Kota Kinabalu: A majority of the 250-odd Sabah GLCs (Government-linked companies) are like 'blackholes' sucking away financial resources from Sabah. But there are a few bright stars. 'These statutory bodies and GLCs produced only RM143m dividends to the Sabah Government, of which RM50m was from SMJ Energy. Only a small number can generate dividends for the government. The performance of the rest is pathetic,' said Datuk John Lo, a former banker and now in the Sabah Economic Action Council (SEAC). Advertisement The other profitable GLCs include Sabah Foundation's subsidiary Innoprise, Sabah Energy Corporation, Sogip, Sogdc, POIC Lahad Datu, Suria Capital, Sabah Credit Corporation and Sawit Kinabalu. Lo was a guest panel speaker at the NGO Sabar – Kopi Tiam Council podcast on 'Oversight & Reform of government-Linked Companies (GLCs) Transparency, accountability & Corruption Prevention session, recently. 'Most are either non-performing or underperforming,' Lo said and pointed out that GLCs hold many monopolistic rights for example, cement [Sabah Cement Industries], ports [Suria, POIC Sandakan and POIC Lahad Datu], water [Jetama] and fishing landing rights [Safma]. They have been granted very cheap but extremely prime land, most of them at RM1,000 premium. [Innoprise, SUDC, subsidiary of Sedco, Suria, SICC, Sabah Energy, TAED.]. Advertisement Others have been vast acreage of valuable agricultural land for free or at nominal premium. [Sawit Kinabalu, KPD, Sabah Softwood.] Then there are those who have been granted cheap and valuable land for industrial park [KKIP, Sogip, POIC Sandakan and POIC Lahad Datu, Asian Supply Base in Labuan] or granted concession rights in oil and gas, river and sea sand [Sabah Energy, Sabah Gas, SMJ Energy, Sedco]. GLCs are also into hotels, resorts and jungle resorts [Innoprise, Sedco and Sabah Air] or granted exclusive JV preference with Sabahan and non-Sabahan companies. 'Most significantly, many GLCs have become a huge liability and drag on Sabah's economic growth. Allowing GLCs to continue without proper governance will result in serious economic consequences. Sabah can never catch up,' he said. In most cases the political appointments of chairmen, board of directors and senior management have been inappropriate. 'GLCs are still bleeding losses year in year out. Sabahans are subsiding these losses that have easily run into billions the last 35 years. The accumulated losses are staggering,' he said. What is worse is that some of these GLCs have sold or entered into JVs in many valuable assets like prime commercial and agriculture land, buildings, monopolies and concessions, most of which are lopsided against Sabah. These GLCs have taken huge loans from the government and banks [especially SDB] that they cannot service or repay, often forcing Sabah taxpayers to bail them out. 'They enter into many lopsided JV agreements against the interests of Sabah. They have the greatest number of failed JV projects that need rescue by 'white knights'. 'These billions of dividends can be tax free and can transform Sabah's economic ownership back to Sabahans. The greatest impact is job creation. If each GLC, on average, can create an additional 100 jobs, there will be additional 25,000 jobs!' said Lo. 'This money could have been used for the hard-core poor, repair or investment in infrastructures, health, scholarships or to build two or three universities. 'The GLCs have many JV projects that are suspended or non-start for years.' 'SDB's revamp is showing encouraging results. Keep an eye on Sabah Energy as it will be the new performing star.' Lo was pleased that Chief Minister Datuk Seri Hajiji Noor has appointed suitable Sabahans to head some boards and management e.g. SDB, SMJ Energy, Sabah Energy, Sogip, Sogdc and the latest, a new Group GM for Sedco. Hajiji has appointed advisors on the economy, oil and gas, energy, tourism and international affairs. Notably, he said state Finance Minister Datuk Seri Masidi Manjun has appointed a task force on GLCs. Masidi has also appointed an oversight committee for GLCs. 'Hopefully, the revamp of GLCs will lead some of them to be listed on Bursa. Bursa will impose demanding and stringent governance requirements on these GLCs. 'GLCs that have independent board of directors and professional management appointed by Hajiji and Masidi are turning around with noticeable improvements. 'It is imperative that future Sabah governments continue to revamp, rationalise the GLCs. 'Focusing on and sorting out the mess in Sabah's GLCs is a critical economic issue for every Sabahan, especially for the present young generation and their children. These GLCs are eroding away their future. 'I hope all Sabahans, every man, every woman, every voter, after listening to Sabar's podcast, will support the reformation, transformation and rationalization of Sabah's GLCs. 'It is in every Sabahan's interest to see to it that all GLCs succeed,' Lo stressed. * 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
New Straits Times
22 minutes ago
- New Straits Times
US-China renewed dialogue seen lifting Malaysia's trade outlook
KUALA LUMPUR: Renewed trade talks between the United States and China are expected to boost investor confidence and strengthen Malaysia's trade momentum, an economist said. Putra Business School economist Professor Dr Ahmed Razman Abdul Latiff said any move to reduce tariffs between the two economic giants could steady the sails for Malaysia by boosting confidence and trade visibility. "If the US and China agree to resume talks and reach a deal to reduce tariffs on each other, Malaysia's trade environment and investor sentiment will become less volatile and uncertain," he told Business Times. "This would boost investor confidence and encourage continued investment in Malaysia," Razman added, noting that while tensions persist, Malaysia is taking steps to shield its economy. Razman also expects Malaysia's export markets and supply chains to remain competitive, although growth may moderate slightly. This, he said, is supported by ongoing efforts to diversify export destinations, grow the country's trading partnerships and enhance intra-Asean trade. Should US-China negotiations break down again, he said the impact on Malaysia would likely remain limited. "There will be some negative impact but it will be minimum as majority of Malaysia's products such as semiconductor will not be subjected to higher tariffs by the US," he said. Trump and Xi held a 90-minute phone conversation on Thursday, marking their first direct dialogue since Trump resumed office. The call, widely viewed as a positive step towards easing the prolonged trade tensions between the world's two largest economies, laid the groundwork for renewed bilateral cooperation and the resumption of high-level trade negotiations. Both leaders agreed to restart trade talks, with senior US officials, including Treasury Secretary Scott Bessent and Commerce Secretary Howard Lutnick, expected to meet their Chinese counterparts. The timing and venue for these negotiations have yet to be finalised but are anticipated to be announced in the coming weeks. Although the call sparked market optimism, US stocks closed lower as a sharp decline in Tesla shares outweighed the positive momentum from progress in US-China tariff negotiations. Tesla shares plunged over 14 per cent in heavy trading as the escalating public feud between Trump and businessman Elon Musk rattled investors, wiping out about US$150 billion in market value. Razman downplayed concerns over the spat saying, "The impact on Malaysia will be minimal, as the fallout primarily affects the SpaceX program and Tesla production."
