Latest news with #MadaniEconomy
The Star
5 days ago
- Business
- The Star
MyCieds to seal customs leaks, boost integrity
Towards improved transparency: Anis Rizana (centre) launching MyCieds for the southern region in Johor Baru. — THOMAS YONG/The Star JOHOR BARU: The paperless Malaysian Customs Import Export Document System (MyCieds) is expected to curb leakages and enhance transparency in Customs operations. Customs Department deputy director-general Norlela Ismail said the digital system would also help strengthen integrity among officers and agents. 'When applications are submitted physically, agents may prefer dealing with specific officers and vice versa. 'With MyCieds, the documents are submitted digitally so the process will be more transparent. Regardless of whether it is Company A, B, C or D, the officer handling the system must process the applications uniformly,' she said at the launch of MyCieds for the southern region yesterday. She said the system, already implemented at Kuala Lumpur International Airport, Selangor and Penang, had received positive feedback. Companies and agents in the southern region of Johor, Melaka and Negri Sembilan can now register to use it. MyCieds functions as an intermediary platform for delivering supporting documents between Customs officers and companies or delivery agents for each Borang Kastam declared through the Sistem Maklumat Kastam. Customs director-general Datuk Anis Rizana Mohd Zainuddin, who officiated the launch, said the system was rolled out in January this year. 'So far, more than 1,350 companies and delivery agents nationwide involved in imports and export activities have signed up for MyCieds. 'With the paperless system, we hope to speed up the documentation process and curb tax revenue leakages,' she said. Anis Rizana added that MyCieds aligns with the national agenda to improve cross-border trade governance and boost Malaysia's global competitiveness. 'This supports the Madani Economy framework by improving the efficiency of government service delivery to the people and industry players,' she said. Anis Rizana urged full compliance with the system at all levels, and called on Customs officers to support delivery agents with clear technical guidance, regular monitoring, and audits. 'Strict action must be taken against those who fail to comply with the regulations,' she said, also reminding agents to ensure documents uploaded are complete, valid and submitted on time. 'This system should be seen as a tool to improve operational efficiency, not a burden, as it expedites processes and reduces the risk of delays in Customs clearance.' Anis Rizana also called on stronger collaboration among all technical and enforcement agencies, including port and airport authorities as well as border enforcement bodies, to ensure the system's successful implementation.
Malaysiakini
23-07-2025
- Business
- Malaysiakini
National Debt Under Control Amid Reforms, Say Economists
Malaysia's sizable national debt does not pose a threat to the country's long-term prosperity, thanks to its strong economic fundamentals and prudent fiscal management, according to economists. Dr. Goh Lim Thye, senior lecturer at Universiti Malaya's Faculty of Business and Economics, said the national debt — recorded at RM1.22 trillion or 63% of GDP as of April 2024 — needs careful oversight but does not inherently pose a risk. 'In assessing debt sustainability, the focus isn't on the absolute size of debt, but rather on the country's ability to service it without hampering economic growth or triggering instability,' Goh told FMT. He noted that Malaysia maintains a diversified economy, solid fiscal capacity, and consistent access to both local and global capital markets. Moreover, international confidence in the country's financial stability remains high. 'All three major credit rating agencies — S&P, Moody's, and Fitch — reaffirmed Malaysia's investment-grade ratings in 2024,' said Goh, who also serves as deputy dean of development at the faculty. 'These affirmations reflect investor confidence that Malaysia is managing its fiscal position responsibly and advancing key reforms.' IMF Endorses Reform Measures Malaysia's reform efforts have also received praise from the International Monetary Fund (IMF), which welcomed the government's fiscal consolidation agenda and the enactment of the Public Finance and Fiscal Responsibility Act (FRA) in its March report. The IMF noted that current policies are aimed at rebuilding fiscal buffers, supporting economic growth, and enhancing social protection, while maintaining macroeconomic and financial stability. The FRA, passed in 2023, is seen as a cornerstone for improving fiscal governance and long-term sustainability. The IMF also highlighted that Malaysia's economic conditions provide a strategic opportunity to advance structural reforms. Under the Madani Economy framework, the government has laid out policy objectives focused on income growth, digitalisation, climate change mitigation, and good governance. Reforms Strengthening Fiscal Outlook MIDF Amanah Investment Bank's head of research, Imran Yusof, echoed the positive sentiment, stating that the government's fiscal and structural reforms are creating a stronger foundation to manage debt effectively. 'We believe the government is moving in the right direction — aiming for higher surpluses and reduced deficits,' he said. The unity government's consolidation measures are already showing results. The fiscal deficit narrowed from 5% of GDP in 2023 to 4.1% in 2024, outperforming its 4.3% target. The 2025 deficit is projected to decline further to 3.8%. Malaysia has also reduced new borrowings — RM75 billion in 2024, down from RM93 billion in 2023 and RM100 billion in 2022. Imran said the focus should be on the debt-to-GDP ratio rather than the total debt amount. Since the deficit stems primarily from development spending, which is considered long-term investment, it can be justified if GDP continues to grow. 'As long as Malaysia maintains a balanced operating budget and nominal GDP keeps rising, the national debt remains manageable,' he said. A Legacy of Crisis and Mismanagement Goh emphasised that the current debt level is largely inherited and not a result of the current administration's policies. 'The elevated debt stems from legacy issues and extraordinary crisis-related spending,' he explained, pointing to massive outlays during the Covid-19 pandemic and the long shadow of the 1MDB scandal. Between 2020 and 2022, the Perikatan Nasional-led government rolled out over RM530 billion in stimulus measures, including over RM100 billion in direct fiscal injections. While these moves helped preserve jobs and prevent economic collapse, they significantly increased public debt. The 1MDB scandal also saddled the government with long-term obligations and dented investor trust, said Goh. 'While some of these liabilities have been addressed, the broader fiscal impact and opportunity costs remain,' he said. 'The challenge now is to rebuild resilience — and encouragingly, the government appears to be taking solid steps in that direction.' Source: FMT The views expressed here are those of the author/contributor and do not necessarily represent the views of Malaysiakini. Interested in having your press releases, exclusive interviews, or branded content articles on Malaysiakini? For more information, contact [email protected] or [email protected]
The Star
15-07-2025
- Business
- The Star
Govt initiatives at military camps generating income, food security
GEORGE TOWN: The Madani Economy initiatives implemented in military camps nationwide have successfully generated additional income for families of armed forces personnel while contributing to the development of downstream industries, including food security, says Datuk Seri Mohamed Khaled Nordin (pic). The Defence Minister said the projects – supported through a RM10mil allocation and carried out in collaboration with the Higher Education Ministry – reflect the government's efforts to enhance the economy and promote sustainability within the defence community. Citing the stingless bee honey and oyster mushroom entrepreneurship projects undertaken by the 2nd Battalion of the Royal Malay Regiment (2 RAMD) community at Sungai Ara Camp in Bayan Lepas, he said these ventures also help occupy the time of family members, particularly as the camp's personnel are scheduled for a peacekeeping mission in Lebanon next year. 'When we talk about preparedness, we look not only at assets but also at our personnel and their families. We value the contributions and sacrifices of the Malaysian Armed Forces and understand that the well-being of personnel includes the welfare of their families. 'With support from the Higher Education Ministry, we have identified valuable skills that can be transferred to the families within military camps,' he told reporters after a working visit to the Sungai Ara Camp yesterday, Bernama reported. Mohamed Khaled also expressed appreciation to the military families involved in the stingless bee honey and oyster mushroom projects at the camp, which incorporate elements of smart agriculture, technical training and entrepreneurship opportunities for members of the 2 RAMD Bakat (the military families' welfare association), in line with Kem Madani aspirations. He also presented RM500 in welfare aid to 15 individuals with chronic illnesses, comprising military personnel. Also present were Defence Ministry secretary-general Datuk Lokman Hakim Ali, Army Chief Jen Tan Sri Muhammad Hafizuddeain Jantan, Army Western Field Commander Lt-Jen Datuk Malek Razak Sulaiman and 2nd Infantry Division Commander Mejar-Jen Datuk Fazal Abdul Rahman.
New Straits Times
14-07-2025
- Business
- New Straits Times
Khaled: Bee farming, oyster mushroom planting projects a boon for army families
GEORGE TOWN: A project under the Madani Economy initiative, implemented in military camps nationwide with an allocation of RM10 million, is proving successful in generating additional income for the families of military personnel. It also serves a dual purpose by supporting downstream industry development and food security efforts. Defence Minister Datuk Seri Mohamed Khaled Nordin said the readiness of the Malaysian Armed Forces does not solely depend on assets and troop training, but also took into account the wellbeing of their families, who are the backbone of the defence community's stability in the country. He cited for example how stingless bee farming and oyster mushroom cultivation projects by the 2nd Battalion of the Royal Malay Regiment (2 RAMD) community at the Sungai Ara Camp were helping the families of army personnel productively spend their time — especially since some of the personnel are expected to be deployed on a mission to Lebanon next year. "When we talk about readiness, it is not just about assets, but also about the personnel and their families. We appreciate the contributions and sacrifices of the armed forces and understand that the wellbeing of their families is equally important. "We have been thinking about how to improve the wellbeing of these families. With strategic partners from the Ministry of Higher Education, we have identified certain knowledge areas that can be transferred through the Madani Economy initiative to families within the camps," he said during a working visit to the Sungai Ara Camp here today. Present were the Defence Ministry's secretary-general Datuk Lokman Hakim Ali, Army Chief General Tan Muhammad Hafizuddeain Jantan, Western Field Commander Lieutenant General Datuk Malek Razak Sulaiman and Second Division Commander Major General Datuk Fazal Abdul Rahman. Khaled said the programme, which incorporates smart agriculture elements and technical training, also provided entrepreneurial education to members of the Armed Forces Family Welfare Association (BAKAT) 2 RAMD. The stingless bee honey project is already being marketed, while the oyster mushroom produce is currently in discussions to be marketed through the Malaysian Armed Forces Trading Corporation (Pernama). "Even the spent mushroom blocks can be used as organic fertiliser, making this project not only sustainable but also highly scalable due to the encouraging response we have received. "For the mushroom project, for instance, 20 participants have joined through the Mushroom Activity Centre, and this number is expected to grow if demand increases. If we have the space and facilities, we are ready to expand participation. "This is just the beginning to spark interest and prove that the project can bring real benefits and returns to participants," he added. He said that the stingless bee project in the camp used systematic beekeeping via "log hives" and biotechnology-based rearing techniques developed in collaboration with Universiti Sains Malaysia (USM). Meanwhile, the oyster mushroom farming employed enclosed mushroom houses with controlled temperature and humidity, ensuring high-quality and consistent yields, supported by Universiti Malaysia Perlis (UNIMAP). Earlier, Khaled also reviewed operational readiness, troop welfare, and evaluated the progress of community development initiatives in the military. He also met with around 300 residents of the Sungai Ara Camp and handed over RM500 in welfare aid to 15 chronic patients from among military personnel and their families stationed in the area.
The Sun
14-07-2025
- Business
- The Sun
MADANI economy boosts military camp income and downstream industries
GEORGE TOWN: The Madani Economy programme implemented in military camps nationwide has successfully generated additional income for armed forces families while supporting downstream industries, including food security. Defence Minister Datuk Seri Mohamed Khaled Nordin said the initiatives, backed by a RM10 million allocation and executed with the Higher Education Ministry, demonstrate the government's commitment to economic growth and sustainability within the defence community. Projects such as stingless bee honey and oyster mushroom farming at Sungai Ara Camp in Bayan Lepas not only provide financial benefits but also engage military families, particularly as personnel prepare for peacekeeping missions. 'Preparedness involves not just assets but also personnel and their families. We recognise the sacrifices of the Malaysian Armed Forces and prioritise their welfare,' Mohamed Khaled said during a visit to the camp. The stingless bee honey initiative, developed with Universiti Sains Malaysia, employs log hives and biotechnology for systematic farming. Meanwhile, the oyster mushroom project, a collaboration with Universiti Malaysia Perlis, uses controlled-environment cultivation to ensure high-quality yields. Mohamed Khaled also inspected operational readiness and distributed RM500 in aid to 15 chronically ill personnel and family members. Senior defence officials, including Army Chief Gen Tan Sri Muhammad Hafizuddeain Jantan, attended the event. - Bernama
