Latest news with #ComprehensiveandProgressiveAgreementforTrans-PacificPartnership
New Straits Times
2 days ago
- Business
- New Straits Times
Uitm prioritises Bumiputera firms in procurement
PUTRAJAYA: The Finance Ministry (MOF) has clarified today that Universiti Teknologi Mara (UiTM) is fully authorised to prioritise Bumiputera companies in its procurement processes, in line with the government's procurement policy outlined in Treasury Circular PK1.5. The statement follows allegations by Parti Bumiputera Perkasa Malaysia (Putra) on social media, which claim that UiTM is sidelining Bumiputera interests in its procurement practices. "The recent amendment to PK1.5, which takes effect in 2025, requires that the chief financial officer or financial controller of a company be of Bumiputera status. "This aims to strengthen Bumiputera professionalism further and applies to UiTM's procurement," the ministry said. It also clarified that the 2025 amendments related to Malaysia's commitments under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) do not apply to UiTM, as the university is a statutory body and thus falls outside the scope of the trade agreement. "As such, UiTM remains a government entity that can fully implement the Bumiputera Company Preference Policy in procurement. "This in no way undermines the Bumiputera empowerment agenda in procurement and project implementation," it said. The ministry reaffirmed its commitment to ensuring that all government agencies continue to uphold the Bumiputera preference policy, which aims to strengthen the capacity of Bumiputera companies in a supportive economic environment. Putra in its social media post yesterday, had claimed that a policy change had allowed non-Bumiputera companies to participate in UiTM tenders. – Bernama
The Star
2 days ago
- Business
- The Star
UiTM prioritises bumiputra firms in procurement, says Finance Ministry
PUTRAJAYA: The Finance Ministry (MOF) has clarified on Sunday (June 1) that Universiti Teknologi Mara (UiTM) is fully authorised to prioritise bumiputra companies in its procurement processes, in line with the government's procurement policy outlined in Treasury Circular PK1.5. The statement follows allegations by Parti Bumiputera Perkasa Malaysia (Putra) on social media, which claim that UiTM is sidelining bumiputra interests in its procurement practices. "The recent amendment to PK1.5, which takes effect in 2025, requires that the chief financial officer or financial controller of a company be of bumiputra status. This aims to strengthen bumiputra professionalism further and applies to UiTM's procurement,' the ministry said. It also clarified that the 2025 amendments related to Malaysia's commitments under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) do not apply to UiTM, as the university is a statutory body and thus falls outside the scope of the trade agreement. "As such, UiTM remains a government entity that can fully implement the bumiputra Company Preference Policy in procurement. This in no way undermines the bumiputra empowerment agenda in procurement and project implementation,' MOF added. The ministry reaffirmed its commitment to ensuring that all government agencies continue to uphold the bumiputra preference policy, which aims to strengthen the capacity of bumiputra companies in a supportive economic environment. - Bernama
The Sun
2 days ago
- Business
- The Sun
UiTM prioritises Bumiputera firms in procurement
PUTRAJAYA: The Ministry of Finance (MOF) has clarified today that Universiti Teknologi MARA (UiTM) is fully authorised to prioritise Bumiputera companies in its procurement processes, in line with the government's procurement policy outlined in Treasury Circular PK1.5. The statement follows allegations by Parti Bumiputera Perkasa Malaysia (PUTRA) on social media, which claim that UiTM is sidelining Bumiputera interests in its procurement practices. 'The recent amendment to PK1.5, which takes effect in 2025, requires that the chief financial officer or financial controller of a company be of Bumiputera status. This aims to strengthen Bumiputera professionalism further and applies to UiTM's procurement,' the ministry said. It also clarified that the 2025 amendments related to Malaysia's commitments under the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) do not apply to UiTM, as the university is a statutory body and thus falls outside the scope of the trade agreement. 'As such, UiTM remains a government entity that can fully implement the Bumiputera Company Preference Policy in procurement. This in no way undermines the Bumiputera empowerment agenda in procurement and project implementation,' MOF added. The ministry reaffirmed its commitment to ensuring that all government agencies continue to uphold the Bumiputera preference policy, which aims to strengthen the capacity of Bumiputera companies in a supportive economic environment.
Malaysia Sun
2 days ago
- Business
- Malaysia Sun
Asian Leaders Voice Concerns over US Tariffs
Speaking at the 30th "Future of Asia" international forum held in Tokyo from May 29 to 30, Singapore's Deputy Prime Minister Gan Kim Yong warned that the current global trade order is under threat, Xinhua reported. He urged Asian countries to stand united in addressing trade issues arising from the US tariffs and emphasized the importance of expanding cooperation through the Association of Southeast Asian Nations and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), particularly in trade and industry. Cambodian Prime Minister Hun Manet said that trade wars undermine a free, open, inclusive, and rules-based multilateral trade system, disproportionately affecting the most vulnerable. He called for unity among nations facing tariff-related pressures. Lao President Thongloun Sisoulith underscored the importance of peaceful coexistence and mutual respect, noting that while Laos has limited trade with the United States, high tariffs could still impact its economy and investment climate. Vietnamese Deputy Prime Minister Nguyen Chi Dung said US tariffs are having a tangible effect on Vietnam's exports and investment. Former Malaysian Prime Minister Mahathir Mohamad criticized the US tariff measures, saying they could harm the American economy and drive up living costs domestically. Since its inception in 1995, the "Future of Asia" forum, hosted annually by Nikkei Inc., has served as a key platform for discussing regional cooperation. This year's forum focused on how the region can foster prosperity and economic growth through collaboration.
Malaysia Sun
2 days ago
- Business
- Malaysia Sun
Asian leaders voice concerns over U.S. tariffs
TOKYO, May 31 (Xinhua) -- Political leaders and former heads of state from across Asia have expressed concerns over the U.S. government's tariff policies, calling for greater unity among Asian nations to overcome shared challenges. Speaking at the 30th "Future of Asia" international forum held in Tokyo from May 29 to 30, Singapore's Deputy Prime Minister Gan Kim Yong warned that the current global trade order is under threat. He urged Asian countries to stand united in addressing trade issues arising from the U.S. tariffs and emphasized the importance of expanding cooperation through the Association of Southeast Asian Nations and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), particularly in trade and industry. Cambodian Prime Minister Hun Manet said that trade wars undermine a free, open, inclusive, and rules-based multilateral trade system, disproportionately affecting the most vulnerable. He called for unity among nations facing tariff-related pressures. Lao President Thongloun Sisoulith underscored the importance of peaceful coexistence and mutual respect, noting that while Laos has limited trade with the United States, high tariffs could still impact its economy and investment climate. Vietnamese Deputy Prime Minister Nguyen Chi Dung said U.S. tariffs are having a tangible effect on Vietnam's exports and investment. Former Malaysian Prime Minister Mahathir Mohamad criticized the U.S. tariff measures, saying they could harm the American economy and drive up living costs domestically. Since its inception in 1995, the "Future of Asia" forum, hosted annually by Nikkei Inc., has served as a key platform for discussing regional cooperation. This year's forum focused on how the region can foster prosperity and economic growth through collaboration.
