Latest news with #AmirHamzahAzizan
The Sun
6 hours ago
- Business
- The Sun
Amir Hamzah visits newly completed Bukit Kayu Hitam Inland Customs Depot
ALOR SETAR: Malaysia's Finance Minister II Datuk Seri Amir Hamzah Azizan has visited Bukit Kayu Hitam (BKH) Inland Customs Depot (ICD) and the free commercial zone during a recent working visit. In a statement dated June 1, PKT Logistics Group Sdn Bhd group chief executive and managing director Datuk Seri Dr Michael Tio said the visit marked a significant milestone for the company. It showcased the operational readiness of BKH ICD's world-class inland port and free commercial zone, which were designed to enhance Malaysia's logistics and transportation sector. Tio said: 'Established as a joint venture on Dec 3, 2019, Bukit Kayu Hitam ICD Sdn Bhd unites two leading entities, One Northern Hub Sdn Bhd, a fully owned subsidiary of PKT Logistics Group Sdn Bhd, and Northern Gateway Logistics Sdn Bhd, a wholly owned subsidiary of Northern Gateway Sdn Bhd. 'Strategically positioned adjacent to the Bukit Kayu Hitam Immigration Customs Quarantine Security Complex, this 50-acre development is located on the North-South Expressway, which is also designated as Asian Highway 2, Malaysia's key route for the ASEAN Customs Transit System,' he said. The statement said that through the ASEAN Customs Transit System, BKH ICD facilitates seamless duty-free trucking across borders, linking Singapore to Vietnam and onwards to China. The inland port's phased development comprises four distinct segments. Phase one is the 12.4-acre BKH Inland Port, which features a customs office complex spanning 19,775 square feet (sq ft). Phase two, the BKH Free Commercial Zone (Blackwood Forests), encompasses 9.3 acres and is home to four high-capacity warehouses known as Summer, Spring, Autumn and Winter. Collectively, they offer about 200,000 sq ft of storage space. The statement said future phases will introduce parking, fuelling, and electric vehicle (EV) charging stations, followed by an integrated hub for office space, education, retail, and hospitality known as the Blackwood Complex. Tio said that in 2008, the company had envisioned the establishment of One Northern Hub to ease southern Thai exports via Malaysian ports. 'Today (June 1), the launch of BKH ICD and free commercial zone, the first two components of One Northern Hub is to elevate Malaysia's status to the next ASEAN logistics hub by making cross-border cargo movements seamless, efficient and secure. At the same time, we also aim to bring socioeconomic development to our surrounding communities,' he said. Since breaking ground in early 2022, BKH ICD has achieved several key milestones. Full regulatory approvals were secured in early 2025. It was operational on April 8, 2025. Tio said the free commercial zone was officially launched on June 1, 2025, reinforcing its role as a vital trade enabler. Operational efficiency is a core pillar of BKH ICD's success, and the facility operates seven days a week from 7 am to 10 pm with a capacity to handle 250,000 TEUs (20-foot equivalent units) annually. 'Equipped with advanced stacking slots for dry and refrigerated containers, the port targets a productivity rate exceeding 10 moves per hour. Cutting-edge infrastructure, including flexible entry-exit lanes and a next-generation terminal operating system, ensures smooth logistics management,' Tio said.
Daily Express
2 days ago
- Business
- Daily Express
Delay RON95 subsidy rationalisation, says petrol dealers group
Published on: Tuesday, June 03, 2025 Published on: Tue, Jun 03, 2025 By: FMT Reporters Text Size: Finance minister II Amir Hamzah Azizan recently announced that the RON95 subsidy rationalisation would begin in the second half of the year. PETALING JAYA: The Petroleum Dealers Association of Malaysia (PDAM) has called on the government to delay rationalising RON95 subsidies until critical issues affecting station sustainability are addressed. PDAM president Khairul Annuar Abdul Aziz, whose association represents more than 4,000 petrol stations nationwide, said dealer margins, fixed under the automatic pricing mechanism, had not been revised since 2019 and no longer reflected current operating costs. He also voiced concern over the merchant discount rate (MDR) imposed on card payments, which increases as fuel prices rise but leaves dealers' per-litre commissions untouched. 'Without a margin revision, small and medium-volume station operators will face losses from the very first day of the RON95 subsidy rationalisation implementation,' he said in a statement today. 'And as pump prices increase under the rationalisation, the MDR rises accordingly, but dealer commissions remain static, resulting in a further erosion of margins.' Finance minister II Amir Hamzah Azizan recently announced that the subsidy rationalisation would begin in the second half of the year. Prime Minister Anwar Ibrahim said the cuts would mainly target foreigners and Malaysia's top 5% to 10% of income earners. Khairul also took aim at a group representing Bumiputera fuel retailers, which claimed there had been no consultation with dealers on the rationalisation plan. He dismissed the claim as 'inaccurate and misleading', saying PDAM was the government-recognised umbrella body for petrol dealers and had been in formal talks with the domestic trade and finance ministries. 'We urge all stakeholders to put aside differences and unite behind a common objective: to support a fair and sustainable targeted subsidy system without neglecting the economic realities faced at the operational level,' he said. * 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
Free Malaysia Today
2 days ago
- Business
- Free Malaysia Today
Delay RON95 subsidy rationalisation, says petrol dealers group
Finance minister II Amir Hamzah Azizan recently announced that the RON95 subsidy rationalisation would begin in the second half of the year. PETALING JAYA : The Petroleum Dealers Association of Malaysia (PDAM) has called on the government to delay rationalising RON95 subsidies until critical issues affecting station sustainability are addressed. PDAM president Khairul Annuar Abdul Aziz, whose association represents more than 4,000 petrol stations nationwide, said dealer margins, fixed under the automatic pricing mechanism, had not been revised since 2019 and no longer reflected current operating costs. He also voiced concern over the merchant discount rate (MDR) imposed on card payments, which increases as fuel prices rise but leaves dealers' per-litre commissions untouched. 'Without a margin revision, small and medium-volume station operators will face losses from the very first day of the RON95 subsidy rationalisation implementation,' he said in a statement today. 'And as pump prices increase under the rationalisation, the MDR rises accordingly, but dealer commissions remain static, resulting in a further erosion of margins.' Finance minister II Amir Hamzah Azizan recently announced that the subsidy rationalisation would begin in the second half of the year. Prime Minister Anwar Ibrahim said the cuts would mainly target foreigners and Malaysia's top 5% to 10% of income earners. Khairul also took aim at a group representing Bumiputera fuel retailers, which claimed there had been no consultation with dealers on the rationalisation plan. He dismissed the claim as 'inaccurate and misleading', saying PDAM was the government-recognised umbrella body for petrol dealers and had been in formal talks with the domestic trade and finance ministries. 'We urge all stakeholders to put aside differences and unite behind a common objective: to support a fair and sustainable targeted subsidy system without neglecting the economic realities faced at the operational level,' he said.
Barnama
7 days ago
- Business
- Barnama
IMF Forum Explores How Governments Can Better Navigate Rising Borrowing Costs, Refinancing Pressures
BUSINESS KUALA LUMPUR, May 28 (Bernama) -- The 20th International Monetary Fund (IMF) Public Debt Management Forum explores and discusses how governments can better navigate the challenges of rising borrowing costs and debt refinancing pressures. The forum was jointly organised by the Finance Ministry, Bank Negara Malaysia (BNM) and the IMF on May 27-28. The Finance Ministry said in a statement that one key focus was improving the liquidity of government bond markets to ensure investors remain confident and engaged even during times of economic uncertainty. 'Participants also explored Islamic finance's growing role in sovereign borrowing strategies, offering new opportunities for countries seeking to diversify funding sources,' it said. Finance Minister II Datuk Seri Amir Hamzah Azizan highlighted in his keynote address the importance of global collaboration in shaping resilient debt strategies in the face of rising debt vulnerabilities and shifting investor expectations. 'It is increasingly clear that the future of debt sustainability cannot rely on national efforts alone. We must strengthen cross-border collaboration, deepen institutional partnerships, and foster the exchange of knowledge to build resilience and strengthen investor confidence,' he said. The two-day forum, themed 'Managing Public Debt Amid Evolving Capital Markets' has gathered around 200 senior government officials, public debt managers and financial market experts from a total of 37 emerging and advanced countries to engage in critical discussions shaping the future of sovereign debt management. This forum discussed emerging challenges and opportunities in sovereign financing risks, weathering the market volatility, Islamic finance, digitalisation in government bond markets and the role of primary dealers as well as market makers. Besides, IMF's financial counsellor and director of the monetary and capital markets department, Tobias Adrian discussed the risks to global financial stability and emphasised the importance of debt transparency.
The Sun
26-05-2025
- Business
- The Sun
Accountants play critical role in improving companies sustainablity practices — Amir Hamzah
KUALA LUMPUR: Accountants play a critical role in guiding companies to improve their sustainability practices, particularly in governance by ensuring high-quality, reliable disclosures are aligned with international standards, said Finance Minister II Datuk Seri Amir Hamzah Azizan. He said that as sustainability becomes central to business strategy, accountants play a pivotal role in integrating environmental, social, and governance (ESG) and sustainability considerations into business strategy and initiatives and corporate reporting. 'This enhances transparency, supports climate action, and helps steer Malaysia towards a low-carbon, resilient economy,' he said in his keynote address at the Malaysian Institute of Accountants (MIA) International Accountants Conference 2025 here today. Amir Hamzah, who launched the conference, said today's accountants are not just financial stewards; they are sustainability champions. 'With the right frameworks, capabilities, and support, you are well-positioned to drive meaningful change, catalyse green financing, and support Malaysia toward a low-carbon, inclusive future envisioned by the MADANI administration,' he said, adding that the profession's sustainability advocacy is well aligned with state policy, namely the National Energy Transition Roadmap (NETR) and the New Industrial Master Plan 2030 (NIMP 2030). In addition, Amir Hamzah said ensuring equitable tax systems and addressing the informal economy are also vital for fiscal sustainability, as accountants contribute to policy development and enforcement mechanisms that promote compliance and fairness. 'Addressing non-compliance and systemic inefficiencies in the tax system is a priority under the MADANI economic framework. 'The government's efforts to broaden the tax base, including taxing the shadow economy, require accountants to advocate for tax compliance and assist businesses in understanding and fulfilling their tax obligations. 'This support is vital for enhancing tax collection, which is critical for funding the nation's developmental expenditures and long-term reforms,' he said. Meanwhile, Amir Hamzah said that with Malaysia holding the ASEAN chairmanship, harmonising regional standards and promoting initiatives like the ASEAN Chartered Professional Accountant (CPA) qualification will enhance cross-border collaboration and economic integration. 'Accountants can contribute further by aligning their professional practices with regional frameworks and supporting the adoption of sustainability assurance standards across ASEAN,' he said. MIA International Accountants Conference 2025 coincides with the ASEAN Summit 2025. The conference is held at the Malaysia International Trade and Exhibition Centre (MITEC) on May 26 and 27, under the theme 'Collaborative Leadership for a Sustainable Future'. This year, the conference has attracted close to 3,800 delegates attending both physically and virtually.
