Latest news with #RM355
The Sun
23-05-2025
- Business
- The Sun
Influx of Chinese e-commerce players set to ease Australian inflation fears
SYDNEY: As businesses globally fret about sky-high US tariffs reviving rampant inflation, in Australia, the redirection of cheap Chinese goods is expected to provide relief for consumers and policymakers worried about stubborn cost pressures. Alibaba's Taobao and are the latest Chinese e-commerce platforms to enter the Australian market, seeking to tap into the bargain-starved country's appetite for online deals. The expected flood of cheap goods from China, on top of a recent slowdown in inflation, is among several reasons the central bank felt confident enough to cut interest rates this week. In an economy like Australia's that manufactures very few finished products domestically, Taobao is finding new markets outside of its core Chinese-speaking consumer base. 'I don't shop a lot, but if I do buy something, I will buy it online. If I can get it cheaper through Taobao, 100% I'll buy from them,' said Jodi Clarke, a therapist in Melbourne, whose first purchase on the site included three look-alike Hermes Kelly bags for A$129 (RM355). China's factories are rushing to reach more new markets overseas as the domestic economy slows, with US President Donald Trump's sweeping tariffs making it much more difficult to access the US, the world's largest consumer market. Frederic Neumann, chief Asian economist and co-head of global research at HSBC, said the expansion of Chinese e-commerce platforms overseas will intensify disinflation pressures, especially for consumer goods. 'What the world is facing is a growing inflation divergence between the US and other economies, with prices climbing in the former, and stabilising, if not outright declining, in the latter,' said Neumann. While the flood of Chinese goods has raised alarms in manufacturing-dependent countries in Southeast Asia, Australia's overwhelming reliance on imports for many household items diminishes most such concerns. The Reserve Bank of Australia judges recent global trade developments to be disinflationary in net terms for Australia, one of the reasons it opened the door to more interest rate cuts on Tuesday. 'Because Australia has a higher share of Chinese products in most parts of its import basket compared with other economies, the redirection of tariff-affected exports is likely to place additional downward pressure on Australian import prices, especially in the short term,' the RBA said in its quarterly economic update this week. Australia bought a whopping A$110 billion of goods last year from China, easily its biggest trading partner. Chinese trade data for April showed exports to Australia jumped 9% from the previous month while shipments to the US tumbled almost 18%. The RBA also noted cheap goods from China are unlikely to displace much Australian production and could even benefit industries reliant on imported inputs, such as clothing retailers. Goldman Sachs has estimated the redirection of Chinese goods into Australia, particularly in toys, furniture and clothing, could subtract 20-50 basis points from headline inflation over the next year or two. Those forecasts were made before China and the US agreed to pause steep tariffs this month. Headline consumer price inflation held at 2.4% in the first quarter, comfortably within the RBA's target band of 2% to 3% and having come down from the 7.8% peak in late 2022. Chinese e-commerce platforms are not completely new in Australia, with Temu already capturing big chunks of online sales, but their broadening appeal to Australians comes as they wrestle with lingering cost-of-living pressures. Singapore-based online fast-fashion retailer Shein, which sells clothes made in China, earlier this month held a pop-up store in Sydney and launched its first Australia-focused brand Aralina. Alibaba had been a low-key cross-border player until last year when it started investing aggressively to boost global sales, including in Australia. Its main competitor also launched its Australian site in March. The push was initially designed to reach more Chinese buyers overseas, but Trump's tariff chaos thrust those e-commerce sites into the spotlight, with Taobao now offering an English version of the app. Taobao is already promoting sales in English for the annual '618' shopping festival on June 18, one of China's largest. It offers free shipping to Australia for clothes worth more than 249 yuan (RM146). Consumers interviewed by Reuters say Taobao's app is easy to use and has translation functions to help communicate with sellers. High shipping costs can sometimes be a hindrance, but in some cases it is still cheaper than buying locally. The site's growing profile in English-speaking communities has elevated the 'Taobao haul' trend on TikTok in markets like Australia. – Reuters
Daily Express
18-05-2025
- Business
- Daily Express
Hundreds million lost to landslides
Published on: Sunday, May 18, 2025 Published on: Sun, May 18, 2025 By: Larry Ralon, Ricardo Unto Text Size: Hajiji visiting Jalan Keningau-Kimanis that was closed due to landslides at KM14.3 and KM11.2, on March 20, 2025. THE Sabah Government has reaffirmed its commitment to addressing landslide-related infrastructure damages, with a total expenditure exceeding RM355 million. Slope repairs on State and Federal roads over the last three years have cost the State RM355 million. CM Hajiji said Sabah continues to work closely with the Federal Government to mitigate the impact of landslides and road collapses, which have become more frequent due to heavy rains and extreme weather conditions. Advertisement 'The Sabah Government, through the Public Works Department (JKR), has identified 100 locations for large-scale slope repairs under the 12th Malaysia Plan (12MP) from 2021 to 2025, with an estimated total cost of RM566.34 million,' he said. However, due to budget constraints and staggered approvals, only RM31.38 million has been spent on 10 large-scale projects under 12MP, while RM168.19 million was allocated for 50 projects under the Disaster Prevention, Repair and Restoration Programme (Program Mencegah, Memperbaiki, dan Memulihkan Kerosakan Akibat Banjir/Ribut – Cerun). 'The financial burden is significant, and we are working with the Federal Government to ensure continuous funding for these essential infrastructure repairs,' said Hajiji. For small-scale slope failures along major State roads, an estimated RM25 million was required for repairs at 100 locations from 2021 to 2023. However, only RM13.68 million was approved, covering 79 locations. Advertisement At the Federal level, RM99.22 million was allocated for 17 large-scale slope repairs on Federal roads, with an additional RM43.04 million spent on small-scale repairs across 149 locations in Sabah. The total cost borne by the Sabah Government for slope repairs between 2021 and 2023 amounted to RM213.25 million, while the Federal Government contributed RM142.26 million. Hajiji emphasised that ensuring road safety and preventing further infrastructure failures remain top priorities for the State. 'We must continue to invest in slope stability and road infrastructure resilience to prevent future disasters and safeguard the lives of Sabahans,' he said. The Chief Minister also urged the Federal Government to expedite additional funding under 12MP to ensure timely completion of critical repair projects, particularly in landslide-prone areas. With climate change increasing the risk of extreme weather events, Hajiji reiterated that proactive measures must be taken to enhance the durability of Sabah's road network and protect communities from future landslide disasters. Ample food during disasters SABAH'S food supply remains sufficient, even in the face of natural disasters such as floods that have impacted the region's already low rice production, with adequate stockpiles in place. 'We have made comprehensive preparations to guarantee food availability in the event of a disaster. Sabah's Self-Sufficiency Level (SSL) for various crops is above 100 per cent, except for rice, which remains at only 22.8pc,' said CM Hajiji. He is confident establishment of the Sabah Padi and Rice Board (LPBS) would play a crucial role in boosting local's production, reducing reliance on imports and improving overall food security. 'To address our low rice SSL, the Sabah Agriculture, Fisheries and Food Industry Ministry is committed to increasing rice production through various initiatives. The Sabah Padi and Rice Board will help strengthen this effort,' he said. LPBS was officially launched on May 10, 2025, with the primary objective of achieving the State Government's target of increasing Sabah's rice SSL to 30pc by next year and 60pc by 2030. Hajiji said various initiatives will be implemented through the reactivation of LPBS to ensure Sabah's food security, meet the people's food demand and reduce dependency on imported rice. 'Currently, Sabah can only produce about 22.8pc of its local rice needs, resulting in heavy reliance on imported rice to meet demand,' he said. LPBS will take over all padi cultivation development and management from the State Agriculture Department starting this year. 'LPBS is also entrusted with the role of regulatory body for the development and management of padi cultivation. Therefore, I urge all relevant State agencies to fully cooperate with LPBS,' he said. To improve SSL, the Chief Minister said the State Government will focus on the development and management of padi cultivation in six districts – Kota Marudu, Tuaran, Tambunan, Keningau, Papar and Kota Belud. The total padi field area in these districts is 22,218.35 hectares or 55,879 acres, involving 16,018 farmers. Besides reactivating LPBS, Hajiji said the State Government is also undertaking other initiatives, including promoting hill padi cultivation. 'I call on all hill landowners to develop their land with high-quality hill padi. It is estimated that 13,266ha (32,767 acres) of hill land are suitable for padi cultivation, involving 15,617 farmers,' he said. The Chief Minister said that if this area is fully developed, it has the potential to produce 30,424 metric tonnes of hill rice annually. Like Sarawak, which is known for its Bario rice, Sabah also has its own hill rice varieties, namely Adan rice from Long Pasia, Sipitang, as well as from Ranau, Kudat and Pitas, which are increasingly popular in the local market, he said. Hajiji also urged government-linked companies (GLCs) to develop their idle land for padi cultivation. 'I assure you that the State Government remains committed to developing idle padi fields and increasing local rice yield and production,' he said. Hajiji encouraged farmers to take advantage of the Rice Crop Takaful Scheme, which provides coverage for padi farmers nationwide. Under this scheme, Malaysian padi farmers aged 18 and above, who cultivate rice in designated areas, are registered under the Federal Government Fertiliser Scheme, and have an Agrobank account, will be protected against crop damage due to natural disasters, pest infestations and diseases. Hajiji assured the public that rice stock levels in Sabah are closely monitored and managed by Padiberas Nasional Berhad (Bernas), which has already prepared sufficient reserves to handle emergencies, particularly during floods.
New Straits Times
15-05-2025
- New Straits Times
Syndicate using modified ship tanks to store subsidised diesel uncovered
IPOH: A syndicate's tactic of modifying ship tanks to illegally load more subsidised diesel than permitted was uncovered by the Perak Domestic Trade and Cost of Living Ministry, following the detection of suspicious activities. Perak ministry director Datuk Kamalluddin Ismail said the discovery was made during a 10.30am raid yesterday, during which a team of enforcement officers from the ministry's Manjung Branch seized 50,900 litres of liquid believed to be diesel, along with other equipment, with an estimated total value of RM355,040, at a premises in Pantai Remis. "Based on inspections and intelligence gathered, the syndicate's modus operandi involved modifying the ship's original fuel tank, which is limited to 3,000 litres, by adding an extra tank capable of storing 7,000 litres," he said in a statement today. Kamalluddin said the subsidised diesel was believed to have been purchased using the fuel quota of another vessel at a controlled price before being resold to industries in Pantai Remis. At the time of the raid, he said, a ship was caught transferring diesel from its tank to a skid tank using a hose and suction pump. He said the skid tank functioned as a storage facility for unsubsidised diesel and suspected to have been used as a collection point for diesel obtained through the syndicate's fraudulent activities. "Authorities also discovered purchase and sale documents, along with quota cards belonging to other vessels, believed to have been used in this scheme," he said. Preliminary investigations revealed that the premises held a valid permit to store scheduled controlled goods, namely unsubsidised diesel, with an approved storage capacity of 58,000 litres, intended for use by category C2 fishing vessels. Following the raid, a 32-year-old local man, who claimed to be the owner of the premises, was arrested. Additionally, a drifting trawler and diesel suction equipment were seized for further investigation. The case will be investigated under the Control of Supplies Act 1961. – BERNAMA
The Sun
15-05-2025
- The Sun
KPDN uncovers tactic of modifying vessel tank
IPOH: A syndicate's tactic of modifying ship tanks to illegally load more subsidised diesel than allowed was uncovered by the Perak Ministry of Domestic Trade and Cost of Living (KPDN), following the detection of suspicious activities. Perak KPDN director Datuk Kamalluddin Ismail said this followed a raid conducted at 10.30 am yesterday, during which a team of enforcement officers from the Perak KPDN Manjung Branch seized 50,900 litres of liquid believed to be diesel, along with other equipment, with an estimated total value of RM355,040, at a premises in Pantai Remis. 'Based on inspections and intelligence gathered, the syndicate's modus operandi involved modifying the ship's original fuel tank, which is limited to 3,000 litres, by adding an extra tank capable of storing 7,000 litres,' he said in a statement today. Kamalluddin said the subsidised diesel was believed to have been purchased using the fuel quota of another vessel at a controlled price before being resold to industries in Pantai Remis. At the time of the raid, he said, a ship was caught transferring diesel from its tank to a skid tank using a hose and suction pump. He said the skid tank functioned as a storage facility for unsubsidised diesel and suspected to have been used as a collection point for diesel obtained through the syndicate's fraudulent activities. 'Authorities also discovered purchase and sale documents, along with quota cards belonging to other vessels, believed to have been used in this scheme,' he said. Preliminary investigations revealed that the premises held a valid permit to store scheduled controlled goods, namely unsubsidised diesel, with an approved storage capacity of 58,000 litres, intended for use by category C2 fishing vessels. Following the raid, a 32-year-old local man, who claimed to be the owner of the premises, was arrested. Additionally, a drifting trawler and diesel suction equipment were seized for further investigation. The case will be investigated under the Control of Supplies Act 1961.
The Sun
15-05-2025
- The Sun
KPDN uncovers tactic of modifying vessel tank to misappropriate subsidised diesel
IPOH: A syndicate's tactic of modifying ship tanks to illegally load more subsidised diesel than allowed was uncovered by the Perak Ministry of Domestic Trade and Cost of Living (KPDN), following the detection of suspicious activities. Perak KPDN director Datuk Kamalluddin Ismail said this followed a raid conducted at 10.30 am yesterday, during which a team of enforcement officers from the Perak KPDN Manjung Branch seized 50,900 litres of liquid believed to be diesel, along with other equipment, with an estimated total value of RM355,040, at a premises in Pantai Remis. 'Based on inspections and intelligence gathered, the syndicate's modus operandi involved modifying the ship's original fuel tank, which is limited to 3,000 litres, by adding an extra tank capable of storing 7,000 litres,' he said in a statement today. Kamalluddin said the subsidised diesel was believed to have been purchased using the fuel quota of another vessel at a controlled price before being resold to industries in Pantai Remis. At the time of the raid, he said, a ship was caught transferring diesel from its tank to a skid tank using a hose and suction pump. He said the skid tank functioned as a storage facility for unsubsidised diesel and suspected to have been used as a collection point for diesel obtained through the syndicate's fraudulent activities. 'Authorities also discovered purchase and sale documents, along with quota cards belonging to other vessels, believed to have been used in this scheme,' he said. Preliminary investigations revealed that the premises held a valid permit to store scheduled controlled goods, namely unsubsidised diesel, with an approved storage capacity of 58,000 litres, intended for use by category C2 fishing vessels. Following the raid, a 32-year-old local man, who claimed to be the owner of the premises, was arrested. Additionally, a drifting trawler and diesel suction equipment were seized for further investigation. The case will be investigated under the Control of Supplies Act 1961.
