Latest news with #AnthonyLokeSiewFook
The Star
14 hours ago
- Business
- The Star
Western aid cuts cede ground to China in South-East Asia: study
Transport Minister Anthony Loke Siew Fook officiates the Genting East Coast Rail Link Project Tunnel excavation works ceremony in Bentong, Pahang on July 13, 2025. Beijing's development finance to the region rose by US$1.6 billion to US$4.9 billion in 2023 - mostly through big infrastructure projects such as rail links in Indonesia and Malaysia. — MUHAMAD SHAHRIL ROSLI/The Star SYDNEY: China is set to expand its influence over South-East Asia's development as the Trump administration and other Western donors slash aid, a study by an Australian think tank said Sunday (July 20). The region is in an "uncertain moment", facing cuts in official development finance from the West as well as "especially punitive" US trade tariffs, the Sydney-based Lowy Institute said. "Declining Western aid risks ceding a greater role to China, though other Asian donors will also gain in importance," it said. Total official development finance to South-East Asia - including grants, low-rate loans and other loans - grew "modestly" to US$29 billion in 2023, the annual report said. But US President Donald Trump has since halted about US$60 billion in development assistance - most of the United States' overseas aid programme. Seven European countries - including France and Germany - and the European Union have announced US$17.2 billion in aid cuts to be implemented between 2025 and 2029, it said. And the United Kingdom has said it is reducing annual aid by US$7.6 billion, redirecting government money towards defence. Based on recent announcements, overall official development finance to South-East Asia will fall by more than US$2 billion by 2026, the study projected. "These cuts will hit South-East Asia hard," it said. "Poorer countries and social sector priorities such as health, education and civil society support that rely on bilateral aid funding are likely to lose out the most." Higher-income countries already capture most of the region's official development finance, said the institute's South-East Asia Aid Map report. Poorer countries such as East Timor, Cambodia, Laos and Myanmar are being left behind, creating a deepening divide that could undermine long-term stability, equity and resilience, it warned. Despite substantial economic development across most of South-East Asia, around 86 million people still live on less than US$3.65 a day, it said. "The centre of gravity in South-East Asia's development finance landscape looks set to drift East, notably to Beijing but also Tokyo and Seoul," the study said. As trade ties with the United States have weakened, South-East Asian countries' development options could shrink, it said, leaving them with less leverage to negotiate favourable terms with Beijing. "China's relative importance as a development actor in the region will rise as Western development support recedes," it said. Beijing's development finance to the region rose by US$1.6 billion to US$4.9 billion in 2023 - mostly through big infrastructure projects such as rail links in Indonesia and Malaysia, the report said. At the same time, China's infrastructure commitments to South-East Asia surged fourfold to almost US$10 billion, largely due to the revival of the Kyaukphyu Deep Sea Port project in Myanmar. By contrast, Western alternative infrastructure projects had failed to materialise in recent years, the study said. "Similarly, Western promises to support the region's clean energy transition have yet to translate into more projects on the ground - of global concern given coal-dependent South-East Asia is a major source of rapidly growing carbon emissions." - AFP
BusinessToday
5 days ago
- Automotive
- BusinessToday
MOT Appoints Four Firms Including Carsome To Expand Vehicle Ownership Inspection Services
The Transport Ministry (MOT) has appointed four companies to provide Change of Ownership Inspection services for private vehicles, a move aimed at easing congestion and improving access to motor vehicle inspection centres. Transport Minister Anthony Loke Siew Fook said the initiative is part of the government's effort to liberalise the Motor Vehicle Inspection Centre segment, which was previously monopolised by Puspakom. 'This will offer the public more convenient options for ownership transfer inspections without crowding existing centres that also handle heavy vehicles,' Loke said. The newly appointed firms, Carro Technology Sdn Bhd, Carsome Academy Sdn Bhd, Wawasan Bintang Sdn Bhd and Beriman Gold Sdn Bhd, have been granted 12 months to fulfil all regulatory and technical requirements before receiving their licenses to operate. The companies must meet stringent criteria, including a minimum RM1 million paid-up capital, local ownership, infrastructure readiness, integration with the MySIKAP system and ISO/IEC 17020:2012 compliance. All inspection personnel must also be accredited by the Road Transport Department. Loke emphasised that the shift from a single-player concession to a multi-license model will foster healthy competition, enhance service quality and support future policy expansions. Related
The Sun
5 days ago
- Automotive
- The Sun
Four firms appointed for private vehicle ownership inspections in Malaysia
PUTRAJAYA: The Ministry of Transport has appointed four companies to conduct Motor Vehicle Inspection Centre (PPKM) services specifically for Change of Ownership Inspections (M.V.15) for private vehicles. Transport Minister Anthony Loke Siew Fook stated that this move aims to expand inspection service availability and ease public access. Previously, vehicle owners had only one option—PUSPAKOM—for mandatory inspections before selling or buying used cars. With the new appointments, the public can choose from multiple service providers, reducing congestion at existing centres. The four selected companies are Carro Technology Sdn Bhd, Carsome Academy Sdn Bhd, Wawasan Bintang Sdn Bhd, and Beriman Gold Sdn Bhd. The decision follows a Cabinet Meeting agreement in March 2023 to open vehicle inspection services to qualified firms under the Road Transport Act 1987. Each company has 12 months to meet licensing conditions, including a minimum paid-up capital of RM1 million, local ownership, and facility readiness. The Road Transport Department (JPJ) will monitor compliance before granting operating licenses. Key requirements include infrastructure development, inspection equipment, MySIKAP system integration, and JPJ-accredited inspectors. Companies involved in used car sales must maintain dedicated inspection lanes and staff, adhering to ISO/IEC 17020:2012 standards. Loke emphasised that expanding PPKM services promotes competition and improves inspection quality for road safety. The shift from a single-player concession to a multi-licensing system aligns with current policies. The ministry may also consider mandatory motorcycle inspections for ownership transfers in the future. - Bernama
Barnama
5 days ago
- Automotive
- Barnama
Four Companies Appointed For Change Of Ownership Inspection For Private Vehicles
GENERAL PUTRAJAYA, July 16 (Bernama) -- The Ministry of Transport (MOT) has appointed four companies to implement Motor Vehicle Inspection Centre (PPKM) services with a specific function for the Change of Ownership Inspection (M.V.15) for private vehicles. Transport Minister Anthony Loke Siew Fook said the appointment of the four companies to implement the M.V.15 inspection is one of MOT's efforts to increase the supply of vehicle ownership inspection services in the market. He said the initiative would also make it easier for the public to obtain vehicle ownership inspection services without having to crowd at the existing PPKM which also conducts periodic inspections of heavy vehicles. "Previously, any vehicle owner who wants to sell car, or buy a used car, must send the vehicle for verification before the transfer of ownership is allowed. "Now they only have one option, which is to go to the Computerized Vehicle Inspection Centre (PUSPAKOM), so by opening a new market, it will further facilitate the process of transferring vehicle ownership because the public can go to any company premises that offers this service," he said in a press conference here today. According to Loke, the appointment of the four companies was made in accordance with the decision of the Cabinet Meeting on March 17, 2023 which had agreed to open motor vehicle inspection services required under the Road Transport Act 1987 [Act 333] to other qualified companies. The four companies appointed are Carro Technology Sdn Bhd; Carsome Academy Sdn Bhd; Wawasan Bintang Sdn Bhd; and Beriman Gold Sdn Bhd. Loke said all the companies were given 12 months to make preparations based on the conditions set out in the Guidelines for Granting PPKM Licenses M.V.15. "During this period, JPJ will carry out continuous monitoring and the Operating License will only be granted after the company concerned meets all regulatory requirements and equipment requirements and is ready to commence operations," he said.
Daily Express
6 days ago
- Business
- Daily Express
Government to narrow trade deficit in transportation services sector
Published on: Wednesday, July 16, 2025 Published on: Wed, Jul 16, 2025 By: Bernama Text Size: According to the latest data from the Department of Statistics Malaysia (DoSM), the services sector experienced a year-on-year growth of 5.0 per cent in 1Q 2025. SUBANG JAYA: The government is adopting a targeted approach to narrow the country's trade deficit in the services sector, particularly in transportation services, said Transport Minister Anthony Loke Siew Fook. He emphasised that this can be achieved by strengthening high-performing local industries and expanding export-oriented capabilities, especially in the oil and gas services sector. Advertisement While acknowledging that Malaysia continues to record a deficit in its transportation services due to its heavy reliance on international shipping liners, Loke said structural limitations in the container shipping industry remain a key challenge. 'Most of our exports and imports rely on foreign shipping lines, as we do not have a strong international container shipping industry. Although there are local shipping firms, they primarily serve the domestic market,' he told reporters after officiating Malaysia Maritime Week 2025, here on Tuesday. Loke said that global shipping is currently dominated by a few major players following a wave of consolidation, making it difficult for smaller or emerging economies like Malaysia to compete in the international logistics arena. However, he said the government is not standing still. Efforts are being made to narrow the deficit by boosting sectors where Malaysia has strong domestic capabilities. 'For example, in the oil and gas sector, we have competitive local companies. By expanding our services in this area, including the use of local oil tankers for international operations, we aim to increase our service exports and reduce the trade gap,' Loke added. The move, he said, aligns with the broader national strategy to enhance Malaysia's services trade performance, tap into niche maritime capabilities, and gradually strengthen the country's balance of payments (BOP) position. In his speech, the minister noted that the country's BOP in the first quarter (1Q) of 2025 saw the transport services account remain a key component of the services deficit. He said the transport account registered a larger deficit of RM9.3 billion in 1Q 2025, compared with a deficit of RM8.0 billion in the previous quarter, mainly contributed by the maritime transport service sectors, especially the ocean freight fraction. 'For Malaysia, the maritime BOP highlights a core economic paradox: it is a world-leading trading nation with globally ranked ports, yet it has a structural dependency on foreign shipping to carry its trade. 'This leads to a persistent and significant deficit in its sea transport account, which is a major contributor to the overall services deficit,' Loke explained. He said about 96.4 per cent of Malaysia's trade is transported by sea. According to the latest data from the Department of Statistics Malaysia (DoSM), the services sector experienced a year-on-year growth of 5.0 per cent in 1Q 2025. The main driver of this growth was the transportation and storage sub-sector, which expanded by 9.5 per cent, supported by high demand for ocean freight, ports, and logistics services—reaffirming Malaysia's vital role in regional and global supply chains. * 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
