Latest news with #SitiRadziahHamzah
Barnama
5 days ago
- Business
- Barnama
Ringgit On Firmer Footing Against US Dollar In Early Trade
WORLD By Siti Radziah Hamzah KUALA LUMPUR, July 25 (Bernama) -- The ringgit opened on a slightly firmer footing against the US dollar this morning, shrugging off the broader G10 currencies' weakness as a confluence of domestic optimism and regional tailwinds lifted sentiment, said an analyst. At 8.07 am, the local note rose to 4.2120/2225 against the greenback from Thursday's close of 4.2135/2210 SPI Asset Management managing partner Stephen Innes said while better-than-expected United States (US) data and rising Treasury yields have weighed on most major currencies, the ringgit is drawing strength from positive developments closer to home. 'There is growing confidence that Malaysia could soon secure a trade deal with the US, potentially modelled off the 15 per cent tariff truce the US struck with Japan. 'That alone has markets pricing in a more favourable export outlook, particularly for Malaysia's high-value sectors,' Innes told Bernama. On Thursday, Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz said Malaysia is still on track to secure a trade deal with the US by the Aug 1 deadline at the lowest possible tariff. Innes said investor sentiment was also buoyed by anticipation surrounding next week's high-level talks in Stockholm, between the US Secretary of Treasury Scott Bessent and senior Chinese officials. He noted that the markets see this as a potential catalyst for de-escalation in broader US-China tensions, which historically boosts risk appetite across Asia, including for the ringgit.
Barnama
6 days ago
- Business
- Barnama
RM100 Cash Aid To Have RM3 Bln Retail Injection, Boost Consumption
BUSINESS By Siti Radziah Hamzah KUALA LUMPUR, July 24 (Bernama) -- The targeted fiscal measures announced by Prime Minister Datuk Seri Anwar Ibrahim on Wednesday are anticipated to enhance near-term consumption, especially for essential goods and household items, according to Kenanga Investment Bank Bhd (Kenanga IB). In its research note, Kenanga IB said among the fiscal measures, the one-off RM100 cash aid to every Malaysian citizen aged 18 and above, which would be disbursed on an individual basis rather than per household, was widening the consumption impact. 'We maintain a neutral stance on the consumer sector following the government's surprise RM100 cash aid announcement under the Basic Rahmah Contribution (SARA) programme, which marks the first cash aid for all adult citizens in Malaysia and could temporarily boost near-term spending ahead of the year-end festive season,' it added. While the scale is smaller than previous stimulus rounds, Kenanga IB noted that mass-market retailers such as MR DIY, AEON, and Padini might see a modest uplift, supported by seasonal momentum and improved sentiment. It added that additional cost-of-living measures, including a 3.0 per cent cut in the RON95 fuel price, toll hike suspension, and an expanded Jualan Rahmah MADANI programme, would further ease pressure on consumers. 'All in, we estimate about RM3 billion retail injection, comprising RM2.2 billion from the new RM100 cash aid, RM300 million from Rahmah MADANI sales and RM500 million in toll savings,' Kenanga IB said. The investment bank noted that although the RM100 aid was restricted to essential items, the increase in disposable income might still lead to spillover spending and consumers were likely to reallocate some of their usual budget toward discretionary purchases. 'The impact is likely to be more meaningful for the B40 group, where RM100 represents about 4.0 per cent of monthly household disposable income, compared to 2.0 per cent for M40 and 1.0 per cent for T20,' it added.
Barnama
28-06-2025
- Business
- Barnama
Malaysia, Russia To Deepen Economic Ties
BUSINESS From Siti Radziah Hamzah MOSCOW, June 28 (Bernama) -- Malaysia and Russia will deepen economic cooperation, particularly in high-potential sectors such as the halal industry, agriculture and food security, Deputy Prime Minister Datuk Seri Fadillah Yusof said. Fadillah said bilateral trade between the two countries remained modest in 2024, despite Russia's large economy. Russia ranked as Malaysia's ninth-largest trading partner among European nations this year, with total trade reaching RM11.46 billion (US$2.48 billion). Malaysia's key exports to Russia include electrical and electronic products, machinery, equipment and parts, as well as processed food. 'I invited Russian companies to invest in Malaysia and take advantage of the government's incentives in strategic sectors such as aerospace, agrotechnology, energy, ICT (information and communications technology), the digital economy, Islamic finance and the halal industry,' the Deputy Prime Minister said. He was speaking at a press conference at the end of his four-day working visit to Russia late last night. Fadillah, who is also the Energy Transition and Water Transformation Minister, called for cooperation in agriculture and food security, and proposed joint research and development in fertiliser and pesticide technologies, agro-engineering and food technology. 'I discussed collaboration in higher education and conveyed appreciation to the Russian government for its scholarships to Malaysian students.
Barnama
28-06-2025
- Business
- Barnama
Malaysia Needs Talent, Technical Expertise In Energy Sector
BUSINESS From Siti Radziah Hamzah MOSCOW, June 28 (Bernama) -- Malaysia urgently requires skilled talent and technical expertise in electrical engineering, renewable energy, grid systems, and nuclear technology, in line with the government's focus on the future energy sector, said Deputy Prime Minister Datuk Seri Fadillah Yusof. Fadillah, who is also the Energy Transition and Water Transformation Minister, said career opportunities in these fields are growing rapidly, not only within the public sector but also across the expanding high-technology private sector. He said the government expects nuclear energy to play an increasingly significant role in the national energy mix, and is therefore seriously exploring its use as one of the strategic options to ensure long-term energy security for future generations. 'The visit to Russia provided an opportunity to examine nuclear power plant technology, safety, and operational models that could potentially be adapted for use in Malaysia,' he said in his speech at a gathering with Malaysians in Russia last night. The event was attended by 150 students and members of the Deputy Prime Minister's delegation. Fadillah stressed that energy and water security remain critical pillars in Malaysia's goal of becoming a developed nation. He said both sectors featured prominently in bilateral discussions with the Russian government. 'Investors have shown strong interest in the potential of Malaysia's energy sector, particularly in high-tech and sustainable technologies,' he said.
Barnama
27-06-2025
- Business
- Barnama
Fadillah Holds Meeting With Rosatom On Nuclear Energy Development
BUSINESS From Siti Radziah Hamzah MOSCOW, June 27 (Bernama) -- Deputy Prime Minister Datuk Seri Fadillah Yusof today held a meeting with Russia's state nuclear corporation Rosatom's director-general Alexey Likhachev to discuss bilateral cooperation in nuclear energy. Rosatom is a multi-industry holding company which comprises assets in power engineering, machine building and construction. The meeting lasted about an hour. Fadillah said Malaysia is committed to a balanced and pragmatic approach to its energy future. 'We value our collaboration with Rosatom and look forward to building a long-term, strategic partnership based on mutual trust and shared objectives,' he said during the meeting. Fadillah said Malaysia look forward to further strengthening its cooperation with Rosatom in key areas including technical and regulatory knowledge sharing, infrastructure and workforce as well as public education and stakeholder engagement on nuclear energy. Also present were Deputy Foreign Minister Datuk Mohamad Alaminand the Malaysian Ambassador to Russia Datuk Cheong Loon Lai. Fadillah also witnessed the signing of a non-disclosure agreement (NDA) between MyPOWER and Rosatom.
