Latest news with #NewStraitsTimes'
New Straits Times
03-06-2025
- Climate
- New Straits Times
Penang water supply stable despite heatwave, PBAPP urges prudent usage
GEORGE TOWN: Penang's water supply remains stable despite sweltering heat conditions affecting several northern states, including neighbouring Kedah and Perak, with dam levels in the state reported to be at satisfactory levels. Penang Water Supply Corporation (PBAPP) chief executive officer Datuk K. Pathmanathan told the 'New Straits Times' that that all three major dams in Penang — Air Itam, Teluk Bahang and Mengkuang — are operating within safe and sustainable limits. "To date, the Air Itam Dam stands at 62 per cent effective capacity, which can support water supply for around 60 days, while the Teluk Bahang Dam is at 51.7 per cent, sufficient for 157 days. "As for the Mengkuang Dam — our largest reservoir — it is at a strong 91.3 per cent capacity, which can last about 131 days," he said. Despite the reassuring figures, Pathmanathan stressed the importance of continued water conservation, particularly in light of rising temperatures and dry spells in nearby regions. "We are actively implementing the Air Itam Dam Action Plan 2025, and are closely monitoring rainfall and weather conditions at all catchment areas. "However, prudent water usage by all consumers is crucial to ensure sustainability," he added. Penang has so far avoided the Level 1 heatwave alert status triggered in districts such as Bandar Baharu (Kedah), Kuala Kangsar and Perak Tengah (Perak), and Machang (Kelantan), where maximum daily temperatures have reached up to 37°C for three consecutive days. Pathmanathan said PBAPP is working with relevant authorities to manage demand and ensure uninterrupted supply throughout the state. He said consumers are urged to report any water leakages or broken pipes to the PBAPP call centre at 04-255 8255. "Everyone has a role to play. Saving water today means securing supply for tomorrow."
New Straits Times
09-05-2025
- Business
- New Straits Times
Geostrategist: Malaysia need not dilute halal standards to appease US [WATCH]
KUALA LUMPUR: Malaysia does not need to dilute its halal standards to appease US trade demands, geostrategist and Nusantara Academy of Strategic Research senior fellow Professor Dr Azmi Hassan says. Malaysia's internationally renowned "A to Z" halal protocol already sets a global benchmark, Azmi told the New Straits Times' Beyond the Headlines. "If Australia can adhere to our halal certification, then the United States should be able to do so as well," he said. Under Malaysian law, all poultry-processing plants exporting halal-certified products must register with the Department of Veterinary Services (DVS)—a procedure that can take months—and submit to plant-by-plant inspections by both DVS and the Department of Islamic Development Malaysia (Jakim). US exporters have cited these layered requirements as a non-tariff barrier. Azmi said that the same issue was resolved during the original Trans-Pacific Partnership (TPP) negotiations, only to reappear after the US withdrew in 2017 before the pact evolved into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The CTTPP is a twelve member trade and economic integration agreement signed on March 8, 2018. It builds upon the TPP framework, retaining most of its provisions. Azmi added that the government should maintain its rigorous halal standards—protecting brand integrity and consumer confidence—while streamlining administrative procedures where possible. On May 5, following a special parliamentary session on US tariffs, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz revealed that Washington has presented four key demands to Malaysia to secure a "win-win" outcome. Among these is speeding up the halal-certification process, highlighted in the US's National Trade Estimate report. The US says that the halal certification process for imports into Malaysia takes longer than other countries. "There are many issues they believe can be improved and they want us to look into these. "For example, what we discussed in Parliament today was regarding halal certification. "It's not about the certificate itself, rather the process. They questioned why it takes longer than other types of certification, " Zafrul said.
New Straits Times
25-04-2025
- Business
- New Straits Times
MBI Ponzi scheme targeted foreigners unfamiliar with local market [WATCH]
KUALA LUMPUR: Investment scams like the now-exposed Mobility Beyond Imagination (MBI) scheme often target foreign investors who are less familiar with local market conditions, says fund manager Neoh Jia Man. Neoh, of Tradeview Capital, said it is not uncommon for schemes originating in one country to lure victims from another, precisely because the latter lack on-the-ground knowledge to spot red flags. "These scams are designed to exploit gaps in awareness," Neoh told the New Straits Times' Beyond the Headlines. "When you're unfamiliar with how things operate locally — the regulations, the players, the red flags — you're far more vulnerable." Neoh added that investors should focus on markets where they have a "homegrown advantage" — familiarity with the business environment, regulations, and on-the-ground realities. "That local knowledge gives you an edge. There were actually a lot of obvious warning signs in MBI's case that locals might have picked up on — but foreigners wouldn't necessarily recognise them," he said. MBI, founded by Tedy Teow Wooi Huat, is believed to have defrauded more than 11 million people globally. On April 11, four 'Datuks' — including two lawyers — were among eight people arrested in connection with MBI. Inspector-General of Police Tan Sri Razarudin Husain said the federal police's Anti-Money Laundering Unit has so far frozen and seized assets and accounts worth RM3.17 billion. The arrests and seizures were made under Op Northern Star, a cross-border operation launched after an Interpol Red Notice was issued on March 20. Assets linked to MBI's Ponzi-style operation — based in a neighbouring country — are still being traced.
New Straits Times
25-04-2025
- Business
- New Straits Times
Greed, false confidence drove MBI scheme, says fund manager [WATCH]
KUALA LUMPUR: The now-defunct Mobility Beyond Imagination (MBI) investment scheme thrived for years by feeding off investor greed and projecting a façade of legitimacy through physical assets, says fund manager Neoh Jia Man. Speaking to the New Straits Times' Beyond the Headlines, Neoh, of Tradeview Capital, said investors are often aware of the risks behind schemes promising high returns — but greed frequently overrides sound judgment. "People who invest in these schemes are often well-informed, but they still fall for promises that are simply too good to be true," he said. Neoh added that MBI stood out from other scams because it was backed by a wide range of physical assets, including shopping malls, hotels, property projects and even durian orchards. "These tangible assets gave investors a false sense of security. Unlike other schemes based purely on digital or virtual offerings, MBI's real-world presence gave the illusion of credibility," he said. He added that some investors may have suspected the scheme was unsustainable, but stayed on as long as the payouts kept coming. "They were blinded by greed. There's also the belief that because the company had so many visible assets, the money game could last longer than others — and in MBI's case, it did." Authorities believe the MBI scheme defrauded more than 11 million people. Police have since identified billions more in assets potentially linked to the scam. On April 11, four 'Datuks' — including two lawyers — were among eight people arrested in connection with MBI. Inspector-General of Police Tan Sri Razarudin Husain said the federal police's Anti-Money Laundering Unit has so far frozen and seized assets and accounts worth RM3.17 billion. The arrests and seizures were made under Op Northern Star, a cross-border operation launched after an Interpol Red Notice was issued on March 20. Assets linked to MBI's Ponzi-style operation — based in a neighbouring country — are still being traced.
