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New Straits Times
17-05-2025
- Entertainment
- New Straits Times
#SHOWBIZ: Fattah Amin sympathises with ex-wife Fazura over debt claims
KUALA LUMPUR: Actor Fattah Amin has declined to comment on allegations that his former wife, Nur Fazura's company, owes RM4.65 million to a headscarf manufacturing factory. Fattah, whose full name is Abdul Fattah Mohd Amin, instead expressed his sympathy and well wishes for Fazura. He added that he hoped things would be made easier for Nur Fatima Aisya's mother. "I wouldn't presume to comment, but having heard this news, I do feel sympathy and wish her all the best," he told BH Online. "I can't really comment much as it's a personal matter. You see, we never know when we might face our own trials. When we do, we wouldn't want others talking nonsense without knowing the full story. "As outsiders, the best we can do is offer our prayers and hope things are resolved smoothly. It's not just anyone; she is the mother of my child, so I naturally pray for the best," he said. Fattah mentioned that he was unaware of the news before it was reported in the local media. "I only found out when the news broke; I genuinely had no prior knowledge of this," he said. Previously, news outlets reported that the popular actress and businesswoman's company was allegedly in debt to the tune of RM4.65 million to the headscarf manufacturer, Obor Holding Sdn Bhd. It's understood that the manufacturing firm has initiated legal action following Pink Fate Sdn Bhd's alleged lack of cooperation. Fazura is widely known as a co-founder of Pink Fate Sdn Bhd. Obor Holding Sdn Bhd, which owns the Feline Malaysia factory, claims to have supplied Pink Fate Sdn Bhd with headscarves valued at RM7.3 million since June 2022. However, they allege that Pink Fate has only paid RM2,680,167.90, leaving a balance of RM4.65 million outstanding to Feline. Obor Holding also stated that they began experiencing difficulties in receiving payments from December 2023. As of now, Fazura has not released any statement regarding this matter.
New Straits Times
06-05-2025
- Business
- New Straits Times
Malaysia's financial markets remain resilient amid global volatility: FMC
KUALA LUMPUR: Malaysia's financial markets have remained stable and orderly despite persistent global volatility, the Financial Markets Committee (FMC) said in its latest assessment. This assurance comes as global investors react to the United States' sweeping tariff announcement on April 2, 2025, which has shaken market sentiment and renewed fears over the direction of global trade policy. FMC chairman and Bank Negara Malaysia deputy governor Adnan Zaylani said the strength of Malaysia's markets has allowed regulators to maintain their focus on long-term development. "The Malaysian financial markets have remained orderly despite the volatile external environment. This allows us to focus our efforts on market development initiatives that will further enhance investors' experience in our markets. "Nonetheless, we remain vigilant amid the rapidly evolving global situation," said FMC chairman and Bank Negara Malaysia deputy governor Adnan Zaylani. The US tariff move has triggered jitters among global investors, leading to cautious investment sentiments and renewed concerns over global trade policy directions. Despite initial shocks, Malaysia's financial indicators have shown encouraging signs. "The ringgit has appreciated by 2.3 per cent year-to-date against the US dollar, largely driven by broad-based dollar weakness across global markets," FMC said in a statement. Meanwhile, the domestic equity market, represented by the FBM KLCI, initially saw a sharp 8.2 per cent drop in reaction to the tariff news but recovered significantly following a temporary pause in its implementation. As of April 25, the index stood just 1.1 per cent below its level at the start of April. The foreign exchange market remains robust, with average daily turnover at US$18.8 billion so far this year—marking a 6.8 per cent year-on-year increase, according to the committee. This sustained activity continues to support corporate forex needs. In terms of fixed-income performance, the domestic bond market has shown strong investor demand. The average bid-to-cover ratio for government bond auctions has improved to 3.01 in 2025, up from 2.56 in 2024. Secondary market liquidity has also surged, with average daily trading volume rising to RM7.3 billion this year compared to RM4.6 billion in 2024, reaching a peak of RM15.5 billion. The FMC also noted increasing interest in the use of local currencies for cross-border trade and investment settlements, reflecting growing regionalisation of financial activities. Looking ahead, the FMC expressed support for Bank Negara's ongoing efforts to strengthen the Malaysian Government Investment Issue (MGII) market. It said these will include a review of the dynamic hedging framework to facilitate hedging by index trackers as well as supporting market-making by domestic financial institutions through improved repo availability.
New Straits Times
03-05-2025
- Business
- New Straits Times
Pahang rolls out RM203mil for housing, fire stations and infrastructure
KUANTAN: The construction of six fire stations, seven solid waste management projects and eight People's Residential Programme (PRR) housing projects are among the slew of initiatives worth some RM203 million carried out across Pahang this year. Housing and Local Government Minister Nga Kor Ming said the planned public facility infrastructure development and upgrading projects will be executed in Pahang under the supervision of the relevant departments and agencies under the ministry. He said RM7.3 million has been set aside for the construction of the six fire stations including in Sungai Lembing, Goh Tong Jaya (Genting Highlands), Pulau Tioman(Rompin) and Bentong. "The solid waste management projects will be carried out by the National Solid Waste Management Department in Kuantan, Lipis, Maran, Bentong, Cameron Highlands, Temerloh, and Pulau Tioman with a cost of RM23 million. "Some RM21 million has been set aside for four development projects under the jurisdiction of the local authorities including the construction of a business centre in Cameron Highlands, developing Pekan Sentral in Pekan, and slope maintenance works. T "The project will be monitored by the local government department under the ministry along with the local authorities in Pahang," he told reporters when met at the ministry's Sentuhan Kasih programme at Kampung Cempaka here today. Nga had earlier handed over the house keys to the Rumah Mesra Rakyat (RMR) owners and mock cheques for the development and planning allocations in Pahang. Meanwhile, he said eight PRR housing projects—designed to offer integrated, commercially viable and conducive environments—will be built in Kuantan, Jerantut, Bentong, Temerloh, Maran, Inderapura and Bera, costing RM61 million. Nga said 782 Rumah Mesra Rakyat (RMR) units are being built in Pahang this year by Syarikat Perumahan Negara Bhd at a cost of RM63.45 million, with 472 units completed so far. "The RMR scheme was introduced to help households earning below RM5,000 a month who either have no home or are living in dilapidated conditions, but own land suitable for building. "Each unit is given a RM20,000 construction subsidy, borne by the government," he said. He said that to ensure all the planned projects are carried out according to schedule, the ministry will work closely with the Pahang government through the local authorities. "Some of the projects have already started and the ministry's key performance indicator is to complete them by the end of this year except for PRR. PRR will have to go through the tender process and will need time to complete," he said. Also present was Pahang Local Government, Housing, Environment and Green Technology Committee chairman Datuk Mohammad Fakhruddin Mohd Ariff.
Malay Mail
22-04-2025
- Malay Mail
UN: Billion-dollar cyberscam industry spreading globally
BANGKOK, April 22 — Asian crime syndicates behind the multibillion-dollar cyberscam industry are expanding globally including to South America and Africa, as raids in Southeast Asia fail to contain their activities, the United Nations said in a report on Monday. Criminal networks that emerged in Southeast Asia in recent years, opening sprawling compounds housing tens of thousands of workers, many trafficked and forced to scam victims around the world, have evolved into a sophisticated global industry, the United Nations Office on Drugs and Crime (UNODC) said. Even as Southeast Asian governments have intensified a crackdown, syndicates have moved within and beyond the region, the agency said, adding that a 'potentially irreversible spillover has taken place... leaving criminal groups free to pick, choose, and move... as needed'. 'It spreads like a cancer,' said Benedikt Hofmann, UNODC acting regional representative for Southeast Asia and the Pacific. 'Authorities treat it in one area, but the roots never disappear; they simply migrate.' Conservative estimates indicate there are hundreds of large-scale scam farms around the world generating tens of billions of dollars in annual profits, the UNODC said. The agency called on countries to work together and intensify efforts to disrupt the gangs' financing. 'The regional cyberfraud industry... has outpaced other transnational crimes, given that it is easily scalable and able to reach millions of potential victims online, with no need to move or traffic illicit goods across borders,' said John Wojcik, a regional analyst with UNODC. The United States alone reported more than US$5.6 billion (RM7.3 billion) in losses to cryptocurrency scams in 2023, including more than US$4 billion in so-called pig-butchering scams or romance scams designed to extort money from often elderly and vulnerable people. 'Inflection point' In recent months, authorities from China, where many of the gangs originate, Thailand and Myanmar have led a crackdown on scam operations in lawless areas of the Thai-Myanmar border, with Thailand cutting power, fuel and internet supply to areas housing scam compounds. But syndicates have adapted, shifting operations between 'the most remote, vulnerable, and underprepared parts of Southeast Asia', especially in Laos, Myanmar, and Cambodia, and beyond, exploiting jurisdictions with weak governance and high rates of corruption, the UNODC said. Raids in parts of Cambodia where the industry is most visible 'led to significant expansion in more remote locations', including the country's western Koh Kong province, as well as areas bordering Thailand and Vietnam, the UN agency said. Cambodian government spokesman Pen Bona said the country is among the victims of the cyberfraud industry and is committed to fighting it. The government recently established an ad-hoc commission chaired by Prime Minister Hun Manet to address the issue by strengthening law enforcement, developing a legislative framework and increasing collaboration with partner nations and the UN, he said. To overcome the 'complex problem, we need collaboration not blame', he said. A spokesperson for the Myanmar junta did not immediately respond to requests for comment. Syndicates have expanded into South America, the UN agency said, seeking to enhance money laundering and underground banking partnerships with South American drug cartels. They are increasingly establishing operations in Africa, including in Zambia, Angola, and Namibia, and in Eastern Europe including Georgia, the agency said. Gangs have also rapidly diversified their workforce, recruiting people from dozens of nationalities, according to the agency, reflecting how the industry scams targets across the globe and has sought to evade anti-trafficking efforts. Citizens of more than 50 countries - from Brazil to Nigeria, Sri Lanka and Uzbekistan - were rescued during recent crackdowns on the Thai-Myanmar border. The international community is at a 'critical inflection point,' the UNODC said, urging that failure to address the problem would have 'unprecedented consequences for Southeast Asia that reverberate globally'. — Reuters
