Latest news with #RM2mil
The Star
23-05-2025
- The Star
Perak aims to reduce human-wildlife conflicts
IPOH: Perak looks forward to resolving the increasing number of human-wildlife conflicts in the state with the help of the Wildlife and National Parks Department (Perhilitan), says Datuk Seri Saarani Mohamad. The Mentri Besar said several incidents, particularly those involving elephants crossing the East-West Highway, have been reported, with recent observations suggesting changes in elephant behaviour. 'We have seen elephants crossing, especially in large groups, so something must be prompting this. 'We need to study their behaviour more closely to understand what is going on,' he told reporters after attending the Northern Corridor Economic Region Ramah Mesra event, here yesterday. Saarani said Perhilitan, with its expertise in wildlife management, will take the lead in investigating the cause and proposing appropriate measures. He cited a past incident during the development of the Agropolitan Gandah project, where elephants frequently disturbed newly planted rubber trees. 'Eventually, we allocated a specific area just for the elephants to feed and roam. Once they had that space, they no longer came into conflict with the plantation. 'That experience taught us the importance of understanding and adapting to wildlife behaviour,' he said. Saarani said it is important to investigate whether elephants were crossing the Gerik-Jeli stretch more often after the recent accident involving a baby elephant. 'I want to remind road users, especially in known wildlife corridors, to be extra cautious. These are traditional elephant routes. 'I have tasked state executive councillor Teh Kok Lim to initiate talks with Perhilitan to identify the cause and effective solutions. 'We are looking into the matter, especially now that the elephants are crossing roads in larger groups,' he added. On May 11, a five-year-old elephant was killed after it was struck by a lorry along KM80 of the highway. An adult elephant, believed to be the mother, then attacked the lorry, damaging the front of the vehicle, in its attempt to free the calf pinned by the vehicle. On May 20, a herd of wild elephants damaged a car that had a 39-year-old man inside at KM11 on the same highway. On another matter, Saarani said Perak has secured RM450mil in confirmed foreign investments, following a recent working trip to Europe. He said the delegation visited France, Belgium and Britain, engaging with industry players in construction, chemicals, aquaculture and automotive testing. In France, the team visited Saint-Gobain, which plans to invest an additional RM2mil in its Kanthan plant here, and in Belgium, Lhoist committed RM250mil to expand its quarry operations in Tapah. Three potential investors were also identified for the Lumut Maritime Industrial City (LuMIC), including firms in ship recycling and logistics, expected to visit in June. The state also plans to collaborate on a shrimp farming project using artemia feed, through the Perak State Agriculture Development Corporation. 'In Britain, the team studied the National Automotive Testing Centre in Leicester, with plans to establish a similar research and development driven track in Sungkai,' he added.
The Star
22-05-2025
- Business
- The Star
Perak secures RM450mil in foreign investments from Europe trip, says Saarani
IPOH: Perak has secured RM450mil in foreign investments following a recent working visit to Europe, says Datuk Seri Saarani Mohamad. The Perak Mentri Besar said more investors are expected to follow suit. He said the state delegation visited France, Belgium and Britain, meeting with key industry players in sectors ranging from construction, chemicals to aquaculture and automotive testing. 'In France, we visited Solvay, a company established since 1945 that has been active in rare earth reprocessing and extraction. 'We were introduced to their latest separation technology, which could have significant implications for future industrial partnerships,' he told reporters after attending the Northern Corridor Economic Region (NCER) 'Ramah Mesra' event at a hotel here on Thursday (May 22). Saarani said the delegation also held talks with Saint-Gobain, a construction materials manufacturer in France, with existing operations in Kanthan, Ipoh. 'The company is set to increase its Malaysian investment by RM2mil. 'Lhoist in Belgium, a multinational lime and minerals company with a quarry in Ayer Kuning in Tapah, has committed to an additional RM250mil investment in Perak,' he added. Saarani also said three potential investors fro Belgium have been identified for the Lumut Maritime Industrial City (LuMIC) project. He said among them is a ship-breaking and recycling company, as well as firms involved in logistics and related infrastructure. 'These three companies have expressed serious interest and are expected to visit Lumut this June to inspect proposed sites and begin discussions with local authorities,' Saarani said. Saarani added that while in Belgium, the Perak team also met with a professor on aquaculture nutrition. He said the discussion focused on Artemia, a live shrimp feed that plays a crucial role in shrimp farming. 'We are planning a collaboration with the professor through the state's subsidiary Perak state Agriculture Development Corporation (SADC). 'We aim to develop a shrimp farming project,' he added. Saarani said the confirmed investment is RM450mil not including the shrimp collaboration, or the three potential investors for LuMIC. Saarani added that the delegation to Britain visited the National Automotive Testing Centre in Leicester, as part of the state's plan to develop a similar automotive track in Sungkai. 'We reviewed the site layout and studied the advanced technologies in use. 'It is more than just a test track, it includes research and development facilities as well. 'We are exploring the possibility of transferring this technology to Perak so we can establish a comparable centre in Sungkai,' he added.
The Star
21-05-2025
- Business
- The Star
RM2mil in incentives to attract integrated circuit design firms
Chow says the incentive will be offered to eligible companies over a three-year period. PENANG plans to offer an annual incentive package worth up to RM2mil to attract more integrated circuit (IC) design companies while supporting the expansion of their operations in the state. Chief Minister Chow Kon Yeow said the incentive would be offered to eligible companies, local and foreign, over a three-year period. However, he said the initiative's success would depend on federal funding to ensure full implementation and sustained growth of the IC design sector. He was responding to an oral question posed from Gooi Hsiao Leung (PH-Bukit Tengah) regarding the impact of US tariffs and the measures being taken by the state government to address the tariff hikes. Chow said the 90-day postponement of further tariff increases between the US and China was a positive step toward de-escalating trade tensions. The move, he noted, would significantly lower the risk of a full-scale trade war. 'Generally, the temporary tariff truce has improved the country's economic growth prospects, with economic growth projections being revised in a more positive direction. 'It has reinforced Malaysia's position as a preferred destination for companies adopting the 'China+1' strategy to diversify their supply chains. 'Malaysia's strategic geographical position, competitive labour costs and favourable exchange rates will continue to make the country an attractive destination,' said the Padang Kota assemblyman. Chow added that other incentive and mitigation plans had been developed to reduce Malaysia's reliance on the US market. Among them was the adaptation toolkit designed to assist exporters and small and medium enterprises (SMEs) in navigating the evolving global trade landscape. The toolkit will provide practical resources and strategic guidance to help industry players identify and capitalise on alternative markets, particularly through regional trade frameworks. These include Asean trade agreements, as well as broader multilateral arrangements such as the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Chow said Penang, through its investment promotion agency InvestPenang, remained proactive in attracting foreign investments by conducting targeted investment missions to key economies such as Japan, South Korea, Taiwan, various European nations, China, Singapore and the US. He said InvestPenang also took part in prominent international expos and trade platforms, including Semicon Southeast Asia, the Kumamoto Industrial Revitalisation Expo, the World Fujian Convention & Exhibition and the World Congress on Innovation & Technology (WCIT). Chow said the initiatives were vital in boosting Penang's global visibility, positioning the state as a competitive and attractive destination for trade and investment across new and emerging markets.
The Star
21-05-2025
- Business
- The Star
Gift of legacy: One plan, multiple dreams
NAVIGATING life after decades of work brings a unique set of aspirations and anxieties. The desire to safeguard one's health, secure a comfortable retirement and establish a meaningful legacy often intertwines with the realities of ongoing financial commitments. Many in this stage of life may still be managing mortgage loans, business investments, supporting their children's education or marriage, and dependents' living and medical expenses, adding complexity to long-term financial planning. Addressing these multifaceted needs requires a solution that offers robust protection and the potential for wealth preservation. Discover Wealth Creator Premier, an investment-linked insurance plan crafted by Generali Life Insurance Malaysia Bhd to resonate with the ambitions and concerns of individuals in their prime and pre-retirement years. Preserving wealth, securing legacies The Wealth Creator Premier plan offers a powerful combination—the protection of high insurance coverage for assets, business and loved ones against life's uncertainties, coupled with the opportunity for your money to grow, building a solid foundation for your future and the legacy you envision. With exclusive bonuses and guaranteed renewability until age 100, the plan ensures your wealth-building journey continues seamlessly, even after your demise. Additionally, starting your legacy creation with a high protection coverage of RM800,000 safeguards your family's future and empowers you to confidently pursue your financial goals. For instance, as illustrated above, if an individual with a wife and two children wishes to protect his dependents and ensure business continuity after his passing, Wealth Creator Premier could help secure that legacy. With a total wealth of RM2mil, RM500,000 is set aside for immediate business continuity, while RM1.5mil in cash is used to purchase the Wealth Creator Premier plan. This plan creates RM6mil* in legacy value, providing RM1.5mil each to the spouse and two children, while increasing the business continuity fund to RM2mil. This ensures both the family's financial security and the sustainability of the business. *The above illustration is based on a 50-year-old male, who is a non-smoker, with a 20-year coverage term and 20-year premium payment term. Terms and conditions apply. With flexible options of premium payment and coverage terms, policyholders can tailor their plan with premium payment terms of five, 10, 15 or 20 years, or align them with coverage terms of 20 or 30 years, or up to age 70 or 80, to fit their legacy planning horizon. Plan benefits The plan is designed with flexibility and long-term security at its core, offering a range of benefits tailored to policyholders' evolving needs, such as: 1. Comprehensive Life Protection > Death, total and permanent disability (TPD) or terminal illness benefit In the event of death or TPD before age 70, the plan provides a payout of the higher value between the basic sum insured (less any withdrawals) and the account value. Upon diagnosis of a terminal illness, 100% of the death benefit will be payable. > Accidental guard booster (AGB) rider Enhance your protection with additional coverage for death or TPD resulting from various accidental events, offering substantial payouts up to RM10mil per life for accidental death and RM4mil per life for accidental TPD. Applicable if the AGB rider is attached. > Maturity benefit Upon the policy's maturity, policyholders will receive the higher of the basic sum insured (less any withdrawals) or any accumulated account value. 2. Exclusive bonuses to maximise your wealth > Loyalty bonus Every two years, starting from the sixth policy anniversary, an additional 0.5% of the average monthly account value over the last two years will be credited to the policyholder's account value. > Special booster Every 15th policy anniversary, an additional 10% of the average monthly account value over the last 10 years will be credited to the policyholder's account value. The aggregate of all Special boosters is payable while the policy is still in force, and shall not exceed a maximum of 10% of the basic sum insured. > Legacy booster At the end of the initial coverage term, an additional 10% of the average monthly account value over the last 10 years will be credited to the policyholder's account value. The total amount payable is subject to 10% of the basic sum insured. > Wellness rewards For policies with a sum insured of RM1mil and above, subject to no claims made on the basic plan, policyholders will enjoy a 5% discount on insurance charges, rewarding you for prioritising your well-being. 3. Flexible solutions to meet your evolving financial needs > Fund switching Policyholders can adapt their investment strategy to changing market conditions by switching between available global and local investment-linked funds at any time, free of charge. > Premium holiday Take a break from paying premium returns without incurring penalties, as long as the account value is sufficient to cover the ongoing insurance and policy charges. > Partial withdrawal Access funds when needed for unexpected events, with a partial withdrawal charge applicable within the first two policy years. With its dual focus on protecting your present and shaping your future, Generali's Wealth Creator Premier plan empowers you to embrace your post-career years with financial confidence, ensuring you can fulfil your dreams while securing a lasting legacy for your loved ones. Sign up during the Wealth Creator Premier campaign from May 1-31 to receive up to two months' premium cashback, up to RM3,000. Terms and conditions apply. For more information, visit
The Star
16-05-2025
- The Star
Penang cops bust drugs-via-courier racket, seize 12kg in drugs worth over RM2mil
GEORGE TOWN: Police have seized various drugs weighing about 12kg worth over RM2mil and arrested a 41-year-old suspect in Butterworth here who used courier services to deliver the narcotics to buyers. Penang police chief Comm Datuk Hamzah Ahmad said various drugs worth RM2.1mil were seized from the suspect during a raid on Thursday (May 15). "The man was arrested in a parking lot. "After interrogation, he led us to a rented apartment where the drugs were stored," he said. He said police found three plastic bags filled with 3.92kg of ecstasy powder, along with 200 courier bags. Also found were another 37 packets of ecstasy powder weighing a total of 2.59kg and another box with a courier company's logo containing 160 packets of ecstasy powder weighing 3.99kg. Another 15 packets of ketamine weighing 384g were also found in courier packaging. Police also found fifty packets containing 10 Erimin pills each wrapped in aluminium foil, three packets with 50 ecstasy pills each and a plastic container containing 1.4kg of ecstasy powder, said Comm Hamzah. "We also seize various equipment used to pack the drugs," he said at a press conference at the police headquarters in Penang Road on Friday (May 16). "The suspect declared the drugs as 'valuables' and distributed them via courier services to buyers nationwide since the end of 2024," said Comm Hamzah. The suspect also tested positive for methamphetamine, amphetamine and ketamine and has been remanded until May 22 for investigations under Section 39B of the Dangerous Drugs Act 1952. In addition to the drugs, police also seized a luxury car worth RM130,000, three gold chains valued at RM28,582 and four gold rings worth RM11,250.
