Latest news with #LeonardoS.p.A
New Straits Times
14-05-2025
- Business
- New Straits Times
Malaysia's maritime patrol aircraft project in Italy 60pct complete
KUALA LUMPUR: The construction of two maritime patrol aircraft (MPA) for Malaysia has reached 60 per cent completion. Defence Minister Datuk Seri Mohamed Khaled Nordin said the aircraft, with a procurement value of RM899 million, are being built in Turin, Italy, and will significantly enhance the country's ability to monitor its vast maritime areas once completed. "These aircraft will play an important role in safeguarding our national waters, especially in addressing threats such as smuggling, illegal fishing and encroachments," he said during a working visit to the facility involved in the project in Turin this week. Khaled said the procurement reflects the government's commitment to strengthening national defence assets, particularly in improving maritime surveillance capabilities. Once operational, the patrol aircraft will support enforcement agencies by providing real-time data and intelligence to ensure the security and sovereignty of Malaysia's maritime zones. The Defence Ministry, in a statement, said the procurement of these aircraft is one of the country's key initiatives to bolster maritime defence, especially in conducting maritime air operations and intelligence, surveillance and reconnaissance. The acquisition of the ATR-72 MPA from Leonardo S.p.A was formalised during the 16th Langkawi International Maritime and Aerospace Exhibition (Lima) in May 2023. It was part of a broader strategy under the RMAF Capability Development Plan 2055, which envisions the procurement of six MPAs by 2035 in three phases. "As a maritime nation situated at the crossroads of the Asia-Pacific and Indian Ocean regions, Malaysia needs to enhance its maritime domain awareness. "These aircraft will enable us to conduct continuous aerial patrols over strategic waters such as the Straits of Malacca, the South China Sea and the Sulu Sea," the ministry said. During the visit, Khaled met with Leonardo S.p.A's management to explore new areas of cooperation. "This visit is a clear reflection of the government's responsibility to ensure high-value defence projects are completed according to schedule, specifications and quality," the ministry said. It added that the visit also served to deepen bilateral defence ties between Malaysia and Italy, in line with the third pillar of Malaysia's Defence Strategic Framework, which emphasises credible partnerships to safeguard national security, regional stability and global peace. Accompanying Khaled during the visit were Air Force chief General Tan Sri Mohd Asghar Khan Goriman Khan and Defence Ministry's deputy secretary-general (policy) Mohd Yani Daud.
New Straits Times
13-05-2025
- Business
- New Straits Times
Malaysia's maritime patrol aircraft project in Italy 60pc complete
KUALA LUMPUR: The construction of two maritime patrol aircraft (MPA) for Malaysia has reached 60 per cent completion. Defence Minister Datuk Seri Mohamed Khaled Nordin said the aircraft, with a procurement value of RM899 million, are being built in Turin, Italy, and will significantly enhance the country's ability to monitor its vast maritime areas once completed. "These aircraft will play an important role in safeguarding our national waters, especially in addressing threats such as smuggling, illegal fishing and encroachments," he said during a working visit to the facility involved in the project in Turin this week. Khaled said the procurement reflects the government's commitment to strengthening national defence assets, particularly in improving maritime surveillance capabilities. Once operational, the patrol aircraft will support enforcement agencies by providing real-time data and intelligence to ensure the security and sovereignty of Malaysia's maritime zones. The Defence Ministry, in a statement, said the procurement of these aircraft is one of the country's key initiatives to bolster maritime defence, especially in conducting maritime air operations and intelligence, surveillance and reconnaissance. The acquisition of the ATR-72 MPA from Leonardo S.p.A was formalised during the 16th Langkawi International Maritime and Aerospace Exhibition (Lima) in May 2023. It was part of a broader strategy under the RMAF Capability Development Plan 2055, which envisions the procurement of six MPAs by 2035 in three phases. "As a maritime nation situated at the crossroads of the Asia-Pacific and Indian Ocean regions, Malaysia needs to enhance its maritime domain awareness. "These aircraft will enable us to conduct continuous aerial patrols over strategic waters such as the Straits of Malacca, the South China Sea and the Sulu Sea," the ministry said. During the visit, Khaled met with Leonardo S.p.A's management to explore new areas of cooperation. "This visit is a clear reflection of the government's responsibility to ensure high-value defence projects are completed according to schedule, specifications and quality," the ministry said. It added that the visit also served to deepen bilateral defence ties between Malaysia and Italy, in line with the third pillar of Malaysia's Defence Strategic Framework, which emphasises credible partnerships to safeguard national security, regional stability and global peace. Accompanying Khaled during the visit were Air Force chief General Tan Sri Mohd Asghar Khan Goriman Khan and Defence Ministry's deputy secretary-general (policy) Mohd Yani Daud.
Bloomberg
12-03-2025
- Business
- Bloomberg
In the City: Trump May Be Great News for European Banks
As Donald Trump stokes European uncertainty via near-daily tariff threats, targets European Union goods and warms to the Kremlin at the expense of Ukraine and NATO, chief executives across the continent may soon be giving their US business relationships a historic rethink. Some already are. Earlier this week, Italian aerospace and defense company Leonardo S.p.A replaced Bank of America with German lender Deutsche Bank. And reports out of Italy show the government is rethinking a potential deal with Elon Musk's Starlink, instead considering alternatives like France's Eutelsat Communication. Both stories are striking examples of a fast-deteriorating transatlantic relationship. In this week's episode of In the City, we explore whether more European businesses will decouple from American companies and Wall Street. Bloomberg deals correspondent Dinesh Nair joins hosts David Merritt and Allegra Stratton.
