Latest news with #Investment
Malaysiakini
an hour ago
- Politics
- Malaysiakini
Puad: Zafrul may owe RM100m for 'party-hopping', PKR must be warned
Umno supreme council member Puad Zarkashi has urged the party leadership to review whether Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz can be held liable for RM100 million in damages for allegedly breaching his pledge as a BN candidate. This follows Zafrul's announced resignation from Umno, with intentions reportedly to join PKR.
NHK
5 hours ago
- Business
- NHK
Trump: US Steel to remain 'American company'
US President Donald Trump says the company US Steel, which had been the target of a takeover bid by Japan's Nippon Steel, will remain in America. At a rally in the state of Pennsylvania on Friday, Trump said: "We're here today to celebrate a blockbuster agreement that will ensure this storied American company stays an American company. You're going to stay in American company." He added that Nippon Steel will invest 14 billion dollars in US Steel, describing it as the largest investment in the history of Pennsylvania and in the history of the steel industry. He also announced plans to raise tariffs on imported steel to 50 percent from 25 percent.
Rakyat Post
15 hours ago
- Business
- Rakyat Post
Tengku Zafrul Initiates Historic Move To PKR, Ending UMNO Chapter
Subscribe to our FREE In a significant political development tonight, Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz has announced his move to PKR, a decision that comes just days after the shocking resignation announcements of two senior PKR cabinet ministers. The timing of Zafrul's entry into PKR has drawn particular attention, coming in the immediate aftermath of Economy Minister Rafizi Ramli and Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad's decisions to step down from their cabinet positions. Both ministers are currently serving their notice periods, with Rafizi set to leave on 17 June officially and Nik Nazmi following on 4 July. READ MORE: Zafrul's transition marks a significant shift in his political allegiance, particularly given his previous positions within UMNO, including serving as a Supreme Council member and chief of the Kota Raja division. READ MORE: Zafrul's Graceful Exit: A Study in Political Transition In his heartfelt resignation announcement, Zafrul emphasised the difficulty of his decision, acknowledging his deep roots with UMNO since 1997. He revealed that he had sought counsel from various quarters, including party colleagues and the UMNO President himself, before making the decision to leave Umno. His statement reflected both professional courtesy and personal gratitude, particularly in his touching tribute to UMNO members and supporters. 'Jasa anda tak mungkin akan terbalas dan akan saya kenang sampai bila-bila.' (Your contributions can never be repaid and will be remembered forever). Looking forward, Zafrul has already initiated discussions with PKR's leadership regarding his membership application. His approach to joining PKR demonstrates respect for institutional processes, as he has committed to following standard application procedures rather than seeking special consideration. This methodical approach to his political transition aligns with his reputation for careful, strategic decision-making. Political Chess: UMNO Stalwart's Defection Reshapes Unity Government Dynamics The situation has sparked intense discussion within political circles, with some questioning the timing of these major changes in PKR's composition. While Rafizi has maintained a strategic silence about his future plans, stating only that he will reveal them at a later date, Zafrul's entry into PKR represents a significant reinforcement for the party during this period of transition. READ MORE: This reshuffling of political figures, with two senior ministers departing their posts while a former UMNO leader joins PKR despite previous attempts to retain him, signals a complex new chapter in Malaysian politics, particularly within the context of the unity government's ongoing evolution. From Parliament to Badminton: Zafrul's Dual Role in Politics and Sports Leadership Zafrul was appointed as a senator after his defeat in the elections, allowing him to continue serving as a minister. He lost narrowly in the Kuala Selangor election to Pakatan Harapan's (PH) Datuk Seri Dr Dzulkefly Ahmad during the 2022 Malaysian general election, despite being a high-profile candidate for Barisan Nasional, a result that came as a surprise to many observers. His senatorship allows him to hold a governmental position despite not being an elected representative. His current senatorial term is expected to last until 2025, after which he will need to either be reappointed or face the expiration of his term. Zafrul is also the 13th president of the Badminton Association of Malaysia (BAM) for the term 2025-2029, succeeding Tan Sri Norza Zakaria. He is married to Raja Johanna Adrina Raja Arshad, and they have four children together, comprising two daughters and two sons. Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
Borneo Post
16 hours ago
- Business
- Borneo Post
Malaysia to continue negotiations with US on tariffs, says Anwar
Anwar speaking at the launch of Esteel Enterprise Sabah Sdn Bhd Phase 1 on Friday. KOTA KINABALU (May 30): Malaysia maintains its stance on negotiation to resolve the issue of tariffs imposed by the administration of US President Donald Trump. Prime Minister Datuk Seri Anwar Ibrahim said negotiations are crucial to ensuring strong Malaysia-US bilateral relations, as the US is Malaysia's third-largest trading partner after Singapore and China. 'We live in challenging times where we face significant direct and indirect impacts from the tariffs announced by the US. However, let's look at this positively — we will continue negotiations because the US is a key investor in Malaysia. American investments are among the highest in Malaysia, and we must maintain good relations with them,' he said at the launch of Esteel Enterprise Sabah Sdn Bhd (Esteel) Phase 1 on Friday. Anwar stressed that Malaysia's position is also important to ensure that any trade agreements or tariffs are fair and comply with international laws. 'I will meet with US officials and also Singaporean President Lawrence Wong to discuss Malaysia-Singapore dialogue, showing that both nations will maintain strong ties as key trading partners,' he explained. He added that Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz had also gone to the US to negotiate, presenting Malaysia's stance alongside ASEAN nations, as well as Korea, Japan, and China, which support bilateral trade relations and oppose unilateral actions.
Entrepreneur
19 hours ago
- Business
- Entrepreneur
IVCA Urges Legacy VCFs to Act on SEBI Migration Framework Before July 2025 Deadline
Under this framework, VCFs with active schemes or schemes that have expired but still hold unliquidated investments can opt to transition into the Alternative Investment Fund (AIF) regime under a new sub-category—Migrated Venture Capital Funds (MVCFs). You're reading Entrepreneur India, an international franchise of Entrepreneur Media. The Indian Venture and Alternate Capital Association (IVCA) has issued a clarion call to all legacy Venture Capital Funds (VCFs) to urgently act on the Securities and Exchange Board of India's (SEBI) migration framework before the looming deadline of July 19, 2025. SEBI, through its circular dated August 19, 2024, introduced a one-time migration window for VCFs operating under the now-repealed SEBI (Venture Capital Funds) Regulations, 1996. Under this framework, VCFs with active schemes or schemes that have expired but still hold unliquidated investments can opt to transition into the Alternative Investment Fund (AIF) regime under a new sub-category—Migrated Venture Capital Funds (MVCFs). The move is seen as a major regulatory overhaul intended to modernise India's fund ecosystem, offering operational clarity and a structured path for legacy funds. Despite the advantages, the response to the migration framework has reportedly been lukewarm. Rajat Tandon, President of IVCA, emphasised, "This is a critical regulatory window for legacy VCFs to realign with the current AIF framework. The migration framework introduced by SEBI not only offers operational clarity but also provides a structured path for managing residual assets and ensuring regulatory compliance," he said. "We urge all concerned VCFs to evaluate this option without delay. IVCA will continue to be the bridge between our members and SEBI, ensuring all necessary support is available throughout the migration process." The framework includes several incentives such as simplified re-registration, fee waivers, and customised compliance norms. However, the slow uptake is raising concerns among industry observers and regulators. IVCA is urging all eligible legacy VCFs—particularly those with residual assets—to assess their status and apply for migration promptly. VCFs that have either not made any investments or have wound up all their schemes are encouraged to formally surrender their registration to SEBI. "This transition is not merely regulatory housekeeping—it's about building a more robust and transparent fund governance ecosystem," said Tandon. For further guidance, VCFs are advised to reach out to IVCA or directly engage with SEBI to ensure timely compliance. IVCA is the apex industry body for the alternate capital industry in India, representing over 450 funds with a combined AUM exceeding USD 350 billion. It advocates for policy development, supports innovation, and aims to position India as a global fund management hub.
