Latest news with #AseanSummit2025
The Star
5 days ago
- Business
- The Star
Perak forges strategic deals to advance maritime and halal sectors
PETALING JAYA: Perak is staking its claim as a future-forward economic hub with the signing of two strategic memoranda of understanding (MoU) by the Perak State Development Corp (PKNPk) – one with the government of the United Arab Emirates (UAE) to explore cooperation in food security and strategic investment, and another with CHEC Construction (M) Sdn Bhd, a global infrastructure firm. The MoUs were signed in conjunction with the Asean Summit 2025. In a statement, PKNPk said the agreements focus on three high-impact sectors, namely the development of the Bagan Datuk International Sea-Hub Multipurpose Terminal (BDI-SMT), the establishment of a Halal and Artificial Intelligence (AI) Industrial Hub in Perak, and collaboration on sustainable food security initiatives. 'These partnerships signal growing confidence in Perak's strategic role as a regional investment hub and its commitment to inclusive and sustainable growth.' One MoU was signed with CHEC Construction, outlining plans to develop the BDI-SMT and establish a Halal and AI Industrial Hub in Perak. The other was formalised with the government of the UAE to explore collaboration in food security and investment opportunities related to the BDI-SMT project. The MoU with the government of the UAE outlines a framework to explore potential cooperation in sustainable food security and strategic investment opportunities related to the BDI-SMT project. The collaboration will assess innovations in agricultural technology, regional trade linkages, and long-term supply chain resilience. The MoU with CHEC Construction, part of a globally recognised infrastructure group outlines a plan to jointly develop the BDI-SMT as a vital trade gateway to link China, Asean and Gulf Cooperation Council nations to the world. 'This partnership also includes the establishment of a Halal and AI Industrial Hub in Perak, designed to strengthen ethical manufacturing, promote industrial digitalisation and position Perak as a catalyst for emerging economic sectors.' Perak Corp Bhd will lead the development of the BDI-SMT. This strategic project supports Perak's vision for the Lumut Maritime Industrial City as a new engine of growth anchored on maritime, logistics and industrial development. 'This initiative aligns with national priorities and is expected to contribute significantly to Malaysia's economic and infrastructure development,' said PKNPk.
New Straits Times
5 days ago
- Politics
- New Straits Times
Azmi Hassan's 'Diplomasia' makes current affairs more accessible to youth
KUALA LUMPUR: Efforts to foster greater interest among youth in diplomacy and foreign policy have been given a fresh impetus with the publication of 'Diplomasia', the debut book by Malaysian geostrategist Prof Dr Azmi Hassan. Written in an accessible style and complemented by illustrations, the book is specifically crafted to engage younger readers, who often perceive geopolitics as overly technical and uninteresting. Speaking after the book's launch at the Kuala Lumpur International Book Fair (KLIBF) here today, Azmi said the approach was chosen to make it easier for young people to understand current affairs. "I wrote this book in a simple language. Issues such as tensions in the South China Sea or the Asean Summit 2025 are presented in a narrative style with colour illustrations to capture readers' attention. "This book might also rekindle patriotic and nationalistic spirit among youth, as it includes explanations on historical names of the country such as Malaya and Federation of Malaya, which are becoming increasingly unfamiliar to the younger generation," he said. With more than a decade of experience in geostrategic analysis, Azmi is a well-known figure across various media platforms, frequently offering academic perspectives on both local and international geopolitical matters. According to the book's publisher, PTS Publishing House, Diplomasia is a compilation of current issues that explores Malaysia's soft power on the world stage, including behind-the-scenes insights into the current political landscape. "The book aims to open readers' eyes to Malaysia's wisdom in negotiation and its principled courage, even when dealing with competing global powers," it said in a statement. Among the topics covered in Diplomasia are the Sabah claim, tensions in the South China Sea, Malaysia-Singapore relations, and Malaysia's position in the MH17 tragedy. The book is available from PTS Publishing House starting today at a price of RM35. – Bernama
Free Malaysia Today
27-05-2025
- Business
- Free Malaysia Today
TNB powers progress with operational excellence, strengthens impact on community
TNB is committed to supporting the smooth execution of the Asean Summit 2025, in line with Malaysia's role as this year's Asean chair. (TNB pic) PETALING JAYA : Tenaga Nasional Bhd continued to deliver steady performance for the first quarter of 2025 (Q1 2025), supported by ongoing domestic economic growth. In a statement, TNB said consumption from the commercial sectors grew by 5.1%, largely driven by the rise in energy-intensive industries such as data centres. 'As of first quarter 2025, the group had energised 21 data centres and secured 43 supply agreements, with a total committed load of around 6.4GW, reinforcing its role as a key enabler of the nation's digital and industrial transformation,' it said. TNB president and CEO Megat Jalaluddin Megat Hassan said the firm was strongly focused on sustaining stable performance while creating long-term value for shareholders. 'Through prudent cost management, reliable service delivery and a clear commitment to nation-building, we continue to provide consistent value despite ongoing global challenges,' he said. The statement also said the appreciation of the ringgit against the US dollar from RM4.73 in March 2024 to RM4.44 in March 2025 helped ease pressure on fuel and capital expenditures, with forex gains turning positive due to the stronger currency. Expanding international renewable energy footprint The utility firm has expanded its international renewables portfolio with the development of its first solar greenfield project in Eastfields and Bunkers Hill, United Kingdom, slated to be commissioned in the second quarter of 2025. 'These projects are part of TNB's long-term strategy to secure foreign-denominated returns while supporting global energy transition goals. The returns and insights from these international ventures contribute to TNB's financial strength and energy transition efforts at home.' Giving back by empowering communities In line with TNB's aim to drive a positive and meaningful impact on the community, the utility firm allocated 1% of its profit after tax to programmes focused on social development, education, the environment and sports. In Q1 2025 alone, TNB channelled more than RM45 million to support rakyat-centric initiatives across the country. 'Our programmes reflect a long-term investment in the communities we serve, ensuring no child is left behind in Malaysia's journey towards a more inclusive, knowledge-based economy,' TNB chairman Abdul Razak Abdul Majid said. A significant portion of TNB's contribution – RM36 million – channelled through Universiti Tenaga Nasional and Yayasan Tenaga Nasional sponsorship, has benefitted more than 20,000 students nationwide. The firm provided RM1 million for its back-to-school support programme 'Ceria ke Sekolah' in 40 locations to help 8,000 underprivileged children, and RM1.5 million during Ramadan as food aid and for community events and religious programmes benefitting over 50,000 people. TNB also disbursed almost RM4 million to over 14,000 asnaf recipients, covering Projek Baiti Jannati, house repairs and rewiring, support for the poor and other causes, including mosque and surau upgrades, education centre support, and more. TNB allocated nearly RM300,000 for healthcare, including medical equipment for Hospital Rehabilitasi Cheras and Hospital Pakar Universiti Sains Malaysia, patient support at Hospital Sultan Zainal Abidin and cancer support initiatives by Pertubuhan Prihatin dan Sokongan Kanser Wanita and for World Cancer Day 2025. It also contributed more than RM300,000 to assist more than 2,000 individuals affected by floods and storms across several states. More than 1,200 Orang Asli individuals in Royal Belum and Slim River, Perak, have also benefitted from RM110,000 in targeted aid from TNB. For sports, TNB allocated over RM2.1 million to support hockey development, reaching over 5,000 individuals, through contributions to the Malaysian Hockey Confederation, as well as funding for training, clinics, equipment and more. Additionally, the utility firm expanded its 'Sekolah Angkat TNB' programme to cover 50 schools nationwide, up from the 36 previously, with an investment of about RM2.3 million.
New Straits Times
26-05-2025
- Business
- New Straits Times
Anwar, Li agree to enhance strategic cooperation through Asean-GCC-China Summit
KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim and Chinese Premier Li Qiang have agreed to further enhance strategic cooperation, particularly through the Asean-Gulf Cooperation Council (GCC)-China Summit, scheduled to take place here, tomorrow. Anwar said Malaysia, as Asean Chair 2025, truly appreciated China's strong commitment to enhancing regional collaboration in the years ahead. "On the sidelines of the Asean Summit 2025, I met with China's Premier Li Qiang, where we discussed efforts to enhance strategic cooperation, particularly through the Asean-GCC-China Summit in Kuala Lumpur. "We focused on key areas like the economy, the halal industry, trade, transportation (especially the East Coast Rail Link), green energy, and artificial intelligence technologies," Anwar said in a post on X. The prime minister said he had also expressed gratitude to China for its support for Malaysia's modernisation efforts, highlighting the solidarity of the Global South. "This collaboration will benefit Malaysia, China and Asean, fostering regional economic growth," he said. Li arrived here earlier today to attend the inaugural Asean-GCC-China Summit slated to be held at the Kuala Lumpur Convention Centre tomorrow, along with the 2nd Asean-GCC Summit. The summits serve as strategic platforms to advance regional and inter-regional cooperation. This evening, Li also joined Asean leaders in attending the gala dinner hosted by Anwar in conjunction with the 46th Asean Summit, held under Malaysia's 2025 Chairmanship theme, "Inclusivity and Sustainability." This year marks Malaysia's fifth term as Asean Chair, following previous chairmanships in 1977, 1997, 2005, and 2015. – BERNAMA
The Star
26-05-2025
- Business
- The Star
Analysts expect sideways trading on Bursa ahead of final corporate results
KUALA LUMPUR: The extension of the deadline to impose tariffs on European imports to the US is giving investors some breathing room as trade tensions surfaced again over the weekend. Following an impasse in negotiations between US and EU policymakers, Trump's announcement of 50% tariffs on shipments from the bloc sparked another sell-down in equities as investors sought out safer investments. As the trading week commenced on Monday, Asian markets showed some relief at the tariffs postponement. Malaysia's benchmark index opened 0.95 points higher at 1,536.33 on Monday. TA Securities Research noted that the previous week's profit-taking correction has significantly weakened technical momentum and trend indicators on the FBM KLCI. As such, the broker expects last Friday's rebound to be short-lived. Looking ahead, local stocks should likely trade sideways with downside bias ahead of the final release leg of a slew of earnings results from local corporates in the upcoming week. "However, the likely presence of bargain hunters anticipating cheaper levels should provide much needed support to the local benchmark," it said in its market commentary. TA Securities added that investors will be paying close attention to announcements from this week's Asean Summit 2025, for cues on the future direction of the region, especially in response to external trade uncertainties. The firm's stock picks for the week include key banking, construction, oil and gas, and technology-related blue chips. Lower liners such as CIMB, RHB Bank, Gamuda, Gadang, Dialog, Hibiscus, DNEX and Unisem should attract bargain hunters for looking for recovery plays ahead, it said. Among the early gainers, Allianz rose 30 sen to RM19.10, Aurelius Tech gained 18 sen to RM3.40 and Nuenergy added 4.5 sen to 47 sen. Leading actives were Harvest Miracle flat at 18 sen, Eco-shop down one sen to RM1.19 and Sarawak Cable down 0.5 sen to 1.5 sen.
