Latest news with #KhazanahNasional
New Straits Times
5 days ago
- Business
- New Straits Times
PAC to continue MAHB hearings
KUALA LUMPUR: The Public Accounts Committee (PAC) will proceed with its hearings on the management of public airports despite the privatisation of Malaysia Airport Holdings Bhd (MAHB) on Feb 22. PAC chairman Datuk Mas Ermieyati Samsudin said eight proceedings have been held since the inquiry began on Feb 17. "On June 3 and 4, PAC recalled several witnesses from the Employees Provident Fund and Khazanah Nasional Bhd to clarify matters and provide testimony on issues raised in earlier proceedings," she said in a statement today. MAHB is now fully owned by the Gateway Development Alliance (GDA), led by Khazanah Nasional. Witnesses included former EPF chairman Tan Sri Ahmad Badri Mohd Zahir, EPF head of investment Rohaya Mohammad Yusof, Khazanah Nasional board director Goh Ching Yin and Khazanah Nasional executive director Wong Shu Hsien. PAC exercised its powers under Standing Order 77(1)(d) and 83(2) of the Dewan Rakyat, Treasury Directive 301 (Amendment) 2023 and Section 5(3)(d) of General Circular No. 1 of 2024 on the Organisation of Ministries and the Prime Minister's Department. PAC will also hold proceedings from June 17 to 19 to examine the rising cost of health insurance premiums, private hospital charges and their impact on public healthcare. Witnesses will include representatives from Bank Negara Malaysia, the Health Ministry, insurance companies, third-party administrators, the Association of Private Hospitals Malaysia and the Malaysian Medical Council.
Asia Times
6 days ago
- Business
- Asia Times
The hard road to a clean and profitable Danantara
The recent inauguration of Danantara, Indonesia's new sovereign wealth fund, marks a remarkable development in the Southeast Asian nation's economic strategy. Established through amendment to the State-Owned Enterprises Law (Law No. 1), Danantara's creation has sparked significant discussion, often drawing comparisons with regional giants such as Singapore's Temasek Holdings and Malaysia's Khazanah Nasional. Yet, a critical aspect often overlooked is the profound disparity in legal frameworks that govern these entities and the implications for Indonesian state-owned enterprises (SOEs). Indonesia's legal framework for managing SOEs has traditionally been rigid and risk-averse. Under the former SOE Law, boards of directors were perpetually at dual risks: navigating business losses and evading potential corruption charges. This ambiguity often stemmed from the blurred legal lines that failed to distinguish between genuine business losses and misappropriation of public funds. Consequently, SOEs were involved in a stringent compliance framework that stifled innovation, promoted bureaucratic conservatism and hindered the development of a dynamic and competitive economy. The reformed SOE Law attempts to mitigate these challenges by reclassifying business losses as corporate losses instead of losses to state finances, significantly reducing the criminal liability under Indonesia's principal anti-corruption law (UU Tipikor). However, a more detailed review of UU Tipikor—particularly Articles 2 and 3—suggests that corruption may still be conducted based on two criteria: losses to state finances ( keuangan negara ) and harm to the state economy ( perekonomian negara ). While the new SOE Law narrows the risk associated with state financial losses, the interpretation of 'harm to the state economy' remains nebulous and broad. Unlike financial losses, which are measurable and direct, harm to the state economy is a much broader notion. It could be interpreted to include impacts on the country's investment climate, economic system stability or other material adverse effects. Governance and oversight weaknesses pose the most immediate risk to Danantara's mission. Unlike well-established funds such as Temasek or Khazanah, which are overseen by independent boards with rigorous checks, Danantara is ultimately controlled by the Executive Office of the President. Its enabling law (Law No. 1 of 2025) places the fund under the president, delegated via the SOE Ministry. This centralized control has raised alarms that Danantara could become a vehicle for political patronage rather than objective investment management. Worryingly, Indonesia's national audit body (BPK) currently lacks a clear mandate to scrutinize SOEs' books at this stage, removing a critical layer of independent oversight. The exclusion of the state audit agency from the fund's oversight framework means billions in public assets could be managed with limited external accountability, a structural flaw that undermines transparency and investor trust. If the foundation of this institution is built on insufficient checks, the door opens to mismanagement or worse. Closely intertwined is the risk of political interference. By design, Danantara's management answers to political authorities, which heightens the possibility of government directives influencing investment decisions. Past governance issues in Indonesian SOEs often stemmed from political interest superseding commercial logic, and Danantara's current setup may not fully solve this. Analysts note that the fund remains 'inherently tied to the government and political influence' under the present structure. That has manifested in market fears, despite presidential assurances of open audits ; there are persistent concerns that the fund could be misused for short-term political goals or the benefit of cronies . Such interference would erode not only Danantara's profitability but also its reputation. The first week of trading after Danantara's launch vividly illustrated this: mere speculation about heavy state control was enough to send Indonesian stocks tumbling and investors fleeing. Legal and structural uncertainties add another layer of risk. Danantara represents a radical reorganization of state assets, and not all roles and responsibilities have been clearly delineated. Tension could emerge between Danantara and existing institutions like the Finance Ministry or the SOE Ministry over who ultimately calls the shots on strategy and budgets. Some experts warn of a potential conflict of authority that could create bureaucratic bottlenecks and confusion in managing the fund's portfolio. Unless comprehensive legal alignment is achieved, Indonesia risks undermining the very goal of creating a more dynamic, innovative and business-friendly SOE sector. To secure Danantara's success and allay early concerns, Indonesia should swiftly implement a set of governance and integrity reforms. First, establish independent oversight by creating a truly independent supervisory board or council for Danantara composed of reputable professionals (including international experts and domestic technocrats) who are not beholden to the current administration. This body should have the authority to oversee the fund's strategy and audit its finances as well as provide checks and balances. Second, strengthen corporate governance and integrity to ensure Danantara and its portfolio SOEs adopt the highest standards of corporate governance, clear performance benchmarks, risk management frameworks, and zero-tolerance policies on corruption. The executives running the fund and the companies under it must be selected based on merit and insulated from political pressure. A code of conduct should bar political office-holders from interfering in day-to-day decisions. Over time, consider partial listings or independent trustees for some holdings to introduce market discipline. These steps will professionalize operations and guard against the fund becoming a 'vehicle for political patronage.' Finally, legally guarantee non-interference by enshrining in law the operational autonomy of Danantara's management. The government should explicitly limit its role to a shareholders-like function, setting broad objectives and risk appetite but not micromanaging investments. Fixed terms for the fund's CEO and directors, removable only for cause, could help shield them from political turnover. Clarify the legal framework to resolve any overlaps; for instance, formalize how the Finance Ministry supports the funds or handles any needed capital injections, to remove uncertainty. Clear, stable regulations will provide the legal certainty global investors need to partner with Danantara. We hope that the government will uphold public trust by strengthening oversight, depoliticizing management, tightening compliance and committing to transparency. If governed with integrity, Danantara can indeed be a powerful engine of growth and a legacy-building institution for Indonesia. But if mismanaged, it risks becoming a US$900 billion liability. We should remain optimistic yet vigilant, ensuring that the government actively mitigates all risks and takes necessary precautions. Ahmad Novindri Aji Sukma is a PhD researcher at the University of Cambridge, specializing in criminology. Arfian Setiaji is a senior legal officer and a University of Washington alumnus specializing in corporate and tech law.
Rakyat Post
03-06-2025
- Health
- Rakyat Post
National Teacher Summit Champions Holistic Education Ahead Of Kurikulum 2027
Subscribe to our FREE As Malaysia prepares for the rollout of Kurikulum 2027, which will transition classroom instruction toward values-based and student-centred learning, a targeted training initiative is laying the foundation to help teachers lead this transformation. The approach focuses on practical strategies that foster emotional development, empathy, and stronger teacher-student relationships. For the first time, 70 teachers from across the country have completed formal training in building Emotional Intelligence through Program Guru KARISMA ( Karakter Inspirasi Masyarakat )—a year-long initiative designed and led by Arus Academy, with full funding from Yayasan Hasanah, a foundation under Khazanah Nasional, and Ministry of Finance Malaysia. The initiative is part of broader efforts to prepare educators for Kurikulum 2027—Malaysia's next major curriculum reform that emphasises holistic development, including values, emotional intelligence, and responsible citizenship. The Sidang Guru Kemuncak KARISMA 2025 was officiated by Puan Hajah Nooraini Kamaruddin, Director of the Curriculum Development Division at the Ministry of Education. Character education and Social and Emotional Learning (SEL) is a proactive educational approach that helps students understand and manage their emotions, build empathy, communicate effectively, resolve conflicts, and collaborate with others—skills that support academic success, mental well-being, and positive lifelong behaviours. Held in conjunction with the Sidang Guru Kemuncak KARISMA 2025 , the culmination of the programme brought together 300 educators, including the 70 trained participants, for a one-day national summit that blended expert-led workshops, classroom showcases, and panel discussions focused on holistic education. Teachers explored how to embed SEL into academic subjects—an increasingly vital competency under Kurikulum 2027. ' Kurikulum 2027 will shift the role of teachers beyond content delivery—it's about nurturing emotionally grounded, values-driven young people,' said Alina Amir, Co-founder of Arus Academy. ' Program Guru KARISMA equips teachers with the tools and mindset to create meaningful learning environments that reflect this shift. This is about elevating the teaching profession—preparing educators to meet the emotional and social needs of today's learners with confidence and care.' Alina Amir, co-founder of Arus Academy. The summit featured a national showcase of over 125 classroom activities and 70 action research projects led by the KARISMA cohort. These highlighted how SEL practices can boost student engagement, reduce classroom conflict, and build stronger interpersonal connections in the learning environment. International SEL expert Keeth Matheny, founder of SEL Launchpad, also participated in the Summit, leading sessions alongside interactive masterclasses on SEL-integrated pedagogy, teacher wellbeing, and holistic student assessment. A multidisciplinary panel of experts from education, corporate, and civil society sectors also convened to discuss new models of student assessment that measure not just academic outcomes, but also empathy, collaboration, and social responsibility. International SEL expert Keeth Matheny, founder of SEL Launchpad, led sessions and masterclasses on SEL-based teaching, teacher wellbeing, and holistic assessment. 'When we equip teachers to lead with empathy and intention, we're not just transforming classrooms—we're shaping a more compassionate and resilient education system for Malaysia,' said Siti Kamariah Ahmad Subki, Trustee & Managing Director at Yayasan Hasanah. 'As a catalyst foundation, Yayasan Hasanah is committed to enabling systemic, people-centred reforms in education. Through Program Guru KARISMA, we're investing in teachers as agents of change – a vital part of the wider ecosystem that supports our children's growth. Alongside families, communities, and the whole-of-nation effort, teachers will be equipped with the skills and confidence to nurture a generation of empathetic, socially conscious learners.' Sarinah Suratman, Teacher at SK Kiaramas, Kuala Lumpur shared: 'The one-year training opened my eyes to the importance of exploring Social and Emotional Learning—not just for students, but for us as teachers. SEL gave me tools to manage my own emotions better, which has helped me become a more balanced and effective educator. Christina Pang Kang Jing, Teacher at SJK(C) Sam Yoke, Kuala Lumpur, added: 'Many students today struggle with focus, frustration, and peer conflict. As teachers, we often lack the tools to address these issues beyond academics. The programme gave us practical ways to integrate social and emotional learning into daily lessons – helping students manage emotions, collaborate better, and build stronger relationships in the classroom.' Christina Pang Kang Jing, teacher at SJK(C) Sam Yoke, Kuala Lumpur. While the initiative aligns with the Malaysian Education Blueprint 2013–2025 – particularly its emphasis on holistic student development, 21st-century skill acquisition, and the cultivation of ethical and globally-minded citizens—it also supports global education commitments under the United Nations Sustainable Development Goal (SDG) 4.7. This target calls for the integration of global citizenship, human rights, peace, and sustainability into education policy, curriculum, teacher training, and assessment. Program Guru KARISMA supports this by helping teachers deliver on the three learning domains of Global Citizenship Education (GCED)—cognitive, socio-emotional, and behavioural—through interactive, student-centred pedagogy, teacher wellbeing training, and more holistic approaches to student assessment. For more information on Program Guru KARISMA, visit . Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
New Straits Times
27-04-2025
- Business
- New Straits Times
GLC takes over construction of Perlis sports school, delayed for 11 years
KANGAR: The federal government has appointed a government-linked company (GLC) to expedite the construction of the sports school project, which was announced 11 years ago. The project involves the development of a school complex specifically for sports, originally slated for completion in 2014 after ground-breaking work began a year earlier. Prime Minister Datuk Seri Anwar Ibrahim said this matter was raised by the Sultan of Perlis, Tuanku Syed Sirajuddin Putra Jamalullail, and the Raja Muda of Perlis, Tuanku Syed Faizuddin Putra Jamalullail, who both called for the project's construction to be expedited. Anwar also announced that he had decided to appoint a company, either under Khazanah Nasional or Permodalan Nasional Bhd (PNB), to develop a sports school for Perlis soon. "This project was announced over a decade ago, but until now, there is no school and no sports facilities. "As such, I have decided to appoint a company, either under Khazanah or PNB, that has the credibility to kickstart the project as soon as possible and complete a sports school in Perlis," he said in his speech at the state-level Madani Aidilfitri celebration in Kuala Perlis here.
The Star
26-04-2025
- Business
- The Star
Breathing new life into KL's heritage districts
KUALA LUMPUR: The city is embarking on one of its most ambitious urban renewal projects to date with the launch of the Warisan Kuala Lumpur (Warisan KL) programme. This culture-led revitalisation effort is poised to reimagine the city's historic heart as a thriving hub of heritage, creativity and inclusive growth. Spearheaded by Kuala Lumpur City Hall (DBKL) and supported by partners including Khazanah Nasional and its subsidiary, Think City, Warisan KL brings together 10 pilot flagship projects aimed at breathing new life into the city's heritage districts. According to Mayor Datuk Seri Maimunah Mohd Sharif ( pic ), the initiative spans a 20km² focus area across key civic, heritage and commercial precincts, aligns with the Kuala Lumpur Plan 2040 and builds upon earlier development frameworks, including the 2014 and 2020 local plans. Key components include the revitalisation and restoration of iconic areas like the Masjid Jamek Enclave, Dataran Merdeka Heritage Area, Carcosa Seri Negara, and Merdeka 118, and transforming the historic marketplace – Trade Quadrant – into cultural and commercial hubs for modern entrepreneurs, legacy trades and creatives. The Warisan KL initiative also revisits and integrates earlier efforts like the River of Life project, enhancing its public appeal through improved infrastructure, signage and storytelling, while inviting youth and community stakeholders to co-create the space. 'The programme's long-term vision is to create a city that is not only livable, but lovable – a place where the future is shaped by the past, and where development is rooted in identity, memory and pride. 'It is more than urban renewal, it is a national agenda for cultural and creative resurgence, poised to position Kuala Lumpur as a leading creative and cultural capital in the region and on the global stage,' said Maimunah, who chairs the Warisan KL working committee, in an interview with Bernama yesterday. She said the initial investment for the Warisan KL programme includes RM600mil announced in the federal budget, but additional allocations are expected to come from private sector investments. 'The initiative will be rolled out in phases, with several short-term and quick-win projects already underway in 2025. Full implementation is expected to span the next five to 10 years, with sustainability, community participation and creative innovation at its core,' she added.
