Latest news with #RM80
New Straits Times
2 hours ago
- Business
- New Straits Times
13MP: Halal exports projected to reach RM80 billion
KUALA LUMPUR: Halal exports from Malaysia is expected to reach RM80 billion under the 13th Malaysia Plan (13MP). While tabling the document, Prime Minister Datuk Seri Anwar Ibrahim said Halal industry will contribute 11 per cent to the country's gross domestic product (GDP). "Focus will also remain on strategic sectors that have a high impact on the national economy, including the halal industry, financial services, tourism, the creative sector, and micro, small and medium enterprises (MSMEs). "Under 13MP, the country aims to increase halal export value to RM80 billion, with the halal industry's contribution to GDP rising to 11 per cent," he said
New Straits Times
3 hours ago
- New Straits Times
Gang busted over theft of TM assets worth RM80k
SUNGAI PETANI: A criminal group known as "Geng Ali", believed to be behind a string of thefts of Telekom Malaysia (TM) assets worth RM80,000, was crippled with the arrests of two of its members recently. The suspects, aged 24 and 27, were detained on July 23 during a targeted police operation launched in response to a surge in infrastructure thefts which caused widespread internet disruptions in the district. Kuala Muda police chief Assistant Commissioner Hanyan Ramlan said police seized 29 stolen TM cabinet cards and a box of similar components in a white sack in the operation. "The group typically targets TM substations before selling the components to scrap dealers. "These thefts have not only caused about RM80,000 in losses to TM but also affected internet access for users in the area," Hanyan said in a press conference at the district police headquarters today. Initial checks found one suspect had three previous offences, including drug-related and criminal cases, while the other had 14 records including eight for criminal offences and six involving drugs. The case is being investigated under Section 379 of the Penal Code for theft, which carries a sentence of up to seven years' imprisonment, a fine, or both, upon conviction. In a separate matter, police have issued 41,070 traffic summonses in Kuala Muda from January 1 to July 30 this year. A total of 974 summonses were issued for red-light violations during major traffic operations throughout the district.
Barnama
3 hours ago
- Business
- Barnama
MBSB Research Projects 4.0 - 5.0 Pct Annual GDP Growth Under 13MP
BUSINESS KUALA LUMPUR, July 31 (Bernama) -- The 13th Malaysia Plan (13MP) will likely target sustainable gross domestic product (GDP) growth of 4.0-5.0 per cent annually from 2026 to 2030, driven by infrastructure development, domestic consumption and strategic initiatives like the Johor-Singapore Special Economic Zone, according to MBSB Investment Bank (MBSB Research). Prime Minister Datuk Seri Anwar Ibrahim will be tabling the 13MP this afternoon. MBSM Research said private consumption, which accounts for more than 60 per cent of GDP, is expected to remain a key growth engine, supported by rising employment and income levels. The investment bank has anticipated that development expenditure will be maintained at around RM80 billion annually, contributing approximately 3.3 per cent of GDP, to ensure strong project flow and earnings visibility for construction players. "We opine that this level of spending is crucial to support multi-year infrastructure projects and public services, while avoiding excessive fiscal tightening that could hinder broader economic growth. "The government aims to reduce the fiscal deficit to 3.0 per cent of GDP by 2030, balancing investment needs with responsible fiscal management," it said in a note today. The investment bank opined that the key infrastructure projects set to anchor sector growth potentially include the mass rapid transit 3, Penang light rail transit, the East Coast Rail Link, Pan Borneo Highway, expansions at airports such as Penang and Miri, and various critical road projects nationwide. MBSB Research expects Sabah and Sarawak to receive substantial infrastructure funding to improve road networks, energy transition and logistics infrastructure. "Sarawak alone has proposed RM38.4 billion in allocations for new road construction and upgrades to existing roads, RM20.0 billion to ensure a clean water supply and RM7.90 billion for new health facilities.
New Straits Times
4 hours ago
- New Straits Times
Police rescue woman from India held captive in KL sex trafficking ring
KUALA LUMPUR: A 39-year-old woman from India who was beaten, locked in a hotel room and forced into prostitution was rescued during a police raid in the city centre. She had arrived in Malaysia on July 11 after being promised work as a domestic helper, only to be held captive and exploited. Acting Kuala Lumpur police chief Datuk Mohamed Usuf Jan Mohamad said the victim was taken to a hotel in Jalan Ampang upon arrival and locked in a room by a 41-year-old man. "She was assaulted and forced to work as a prostitute. The suspect, who admitted to managing the vice operation, was arrested during the raid," he said in a statement. Usuf added that the woman was offered between RM50 and RM80 per customer, with the man profiting from the illegal activity. The raid, carried out under Op Noda by the Dang Wangi district Criminal Investigation Division and the Kuala Lumpur police headquarters' Criminal Investigation Department, took place at 8.30pm yesterday. Police arrested 12 Indian nationals — seven men and five women aged between 21 and 43 — including sex workers, touts, counter staff and customers. "The syndicate operated through street-level solicitation, targeting foreign men from Bangladesh, Nepal and India," said Mohamed Usuf. Usuf added that police also seized condoms, a customer logbook, tissue paper and RM267 in cash. The case is being investigated under Section 373 and Section 372B of the Penal Code, Section 6(1)(c) of the Immigration Act 1959/63, and Section 12 of the Anti-Trafficking in Persons and Anti-Smuggling of Migrants Act 2007 (ATIPSOM).
The Sun
5 hours ago
- Business
- The Sun
Malaysia targets 4-5% GDP growth under 13MP, says MBSB Research
KUALA LUMPUR: The 13th Malaysia Plan (13MP) is expected to target sustainable annual GDP growth of 4.0 to 5.0 per cent from 2026 to 2030, according to MBSB Investment Bank (MBSB Research). Key drivers include infrastructure development, domestic consumption, and strategic initiatives like the Johor-Singapore Special Economic Zone. Prime Minister Datuk Seri Anwar Ibrahim will table the 13MP later today. MBSB Research highlighted private consumption, which contributes over 60 per cent of GDP, as a major growth engine, supported by rising employment and incomes. Development expenditure is projected at RM80 billion annually, accounting for 3.3 per cent of GDP, ensuring steady project flow for construction firms. 'This spending level is crucial to sustain infrastructure projects without excessive fiscal tightening,' the bank noted. Key infrastructure projects under the 13MP include MRT3, Penang LRT, East Coast Rail Link, Pan Borneo Highway, and airport expansions. Sabah and Sarawak are set to receive significant funding for roads, water supply, and health facilities. Public-private partnerships (PPPs) will play a vital role, with projects like the West Ipoh Span Expressway and Putrajaya-Bangi Expressway boosting private sector involvement. The 13MP also addresses structural reforms in public services, education, and labour markets, aiming for 35 per cent skilled employment by 2030. MBSB Research forecasts corporate earnings to grow at 5.0 per cent annually, potentially lifting the FBM KLCI to between 1,810 and 2,510 points by 2030. - Bernama
