Latest news with #WorldExpoOsaka2025
Daily Express
4 days ago
- Business
- Daily Express
Tariff impact: Recession is unlikely but growth may dampen
Published on: Saturday, August 09, 2025 Published on: Sat, Aug 09, 2025 By: Bernama Text Size: Zafrul said both Malaysia and the US have agreed on key terms of a reciprocal tariff agreement that comes into effect today, Aug 8. OSAKA: Malaysia's economic growth is expected to slow down following the implementation of the United States (US) tariff. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said that while the impact may not be severe enough to trigger a recession, the country would experience slower-than-expected growth. This would be in line with Bank Negara Malaysia's (BNM) recent revision of its 2025 gross domestic product (GDP) forecast from 4.5–5.5 per cent to 4.0–4.8 per cent. Advertisement 'The impact may not lead to a recession, but there is an impact, where growth is achieved but at a lower rate,' he said when asked about how soon the impact can be seen following the tariff implementation. Tengku Zafrul was speaking to the Malaysian media at the Malaysia Pavilion during the World Expo Osaka 2025, here today. He said both Malaysia and the US have agreed on key terms of a reciprocal tariff agreement that comes into effect today, Aug 8. He said the deal covers six main chapters and has already received input from Malaysia, with the final joint statement now pending confirmation from the US side. Advertisement Meanwhile, for sectors such as electrical and electronics (E&E) and pharmaceuticals, which are currently enjoying zero tariffs, Tengku Zafrul noted that there are growing concerns regarding global demand, particularly as businesses start to feel the impact of increased costs. 'A lot of frontloading happened. A lot of companies actually brought in or bought stocks and even finished goods. So that means some of the companies are able to take the hit rather than pass it to the consumers. 'But as the stocks deplete or as the raw materials or the old supply chain knock-on effect comes in, I am not sure whether the companies can absorb the total cost,' he said. If suppliers or producers cannot absorb the increase, they will have to pass it to buyers. 'Can the buyers afford it? Maybe they can, but they will not buy as much. So, this is the knock-on effect on the economy, but that is in theory, and we will see,' he said Tengku Zafrul said the US makes up just 15 per cent of Malaysia's total trade portfolio and remains the country's largest export destination, with exports reaching nearly RM200 billion in 2024, of which 60 per cent is from the E&E sector. He said Malaysia remains competitive compared to regional peers, with the average tariff levels not far off from countries like Taiwan (20 per cent). However, he noted the scale of the US economy, which accounts for nearly 27 per cent of global gross domestic product, hence any slowdown there will have far-reaching consequences. 'Some countries may be hit harder than others, depending on how open their economies are and how heavily they depend on trade with the US,' he added. On former Prime Minister Tun Dr Mahathir Mohamad's claims about Malaysia's tariff negotiations with the US, Zafrul said it was his and the ministry's responsibility to provide accurate information to all parties. 'I believe it is our duty as the government to present the true picture of the tariff situation. 'We have already issued a statement previously. And yesterday, I also corrected the inaccurate facts (raised by Dr Mahathir). 'Perhaps he got the wrong information source... we are just there to correct the facts,' he added. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Sun
4 days ago
- Business
- The Sun
US tariff impact on Malaysia's growth: No recession but slower expansion
OSAKA: Malaysia's economic growth is expected to slow following the implementation of US tariffs. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the impact may not trigger a recession but will dampen growth. This aligns with Bank Negara Malaysia's revised 2025 GDP forecast of 4.0–4.8 per cent, down from 4.5–5.5 per cent. 'The impact may not lead to a recession, but there is an impact, where growth is achieved but at a lower rate,' he said. Tengku Zafrul spoke to Malaysian media at the Malaysia Pavilion during the World Expo Osaka 2025. He confirmed that Malaysia and the US have agreed on key terms of a reciprocal tariff agreement effective today. The deal covers six main chapters, with Malaysia's input already incorporated, pending final US confirmation. Sectors like electrical and electronics (E&E) and pharmaceuticals, currently enjoying zero tariffs, face concerns over global demand. 'A lot of frontloading happened. A lot of companies actually brought in or bought stocks and even finished goods,' he said. Some firms may absorb costs initially, but prolonged effects could force price hikes. 'As the stocks deplete or as the raw materials or the old supply chain knock-on effect comes in, I am not sure whether the companies can absorb the total cost,' he added. If suppliers pass costs to buyers, demand may weaken, affecting the broader economy. The US accounts for 15 per cent of Malaysia's trade, with exports hitting nearly RM200 billion in 2024. E&E makes up 60 per cent of these exports, highlighting the sector's vulnerability. Malaysia's tariff levels remain competitive, comparable to Taiwan's 20 per cent average. However, the US economy's size means any slowdown could have global repercussions. 'Some countries may be hit harder than others, depending on how open their economies are,' Tengku Zafrul noted. On Tun Dr Mahathir Mohamad's claims about tariff negotiations, Zafrul stressed the need for accurate information. 'We have already issued a statement previously. And yesterday, I also corrected the inaccurate facts,' he said. He suggested Dr Mahathir may have relied on incorrect sources. - Bernama
Borneo Post
4 days ago
- Business
- Borneo Post
Abang Johari: Japan key partner in Sarawak's green growth with RM31.6 bln in 2024 trade
(From left) Ripin, Ibrahim, Mussen, Awang Tengah, Abdul Karim and Ting cutting the ribbon to launch the Sarawak Week at the World Expo Osaka 2025 in Japan today. KUCHING (Aug 8): Japan remains one of Sarawak's top trading partners, with trade valued at RM31.6 billion in 2024, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg. He noted that since 2011, Japanese investments in Sarawak's manufacturing sector have reached RM13.8 billion, generating over 4,000 jobs – a reflection of the long-standing strategic partnership between Sarawak and Japan. 'These are more than numbers, they reflect deep trust and shared progress. 'We are committed to strengthening this relationship, especially in digital technology, green hydrogen and ammonia, as well as renewable energy,' he said in a speech delivered by Deputy Premier Datuk Amar Awang Tengah Ali Hasan during Sarawak Week at the Malaysia Pavilion during World Expo Osaka 2025 in Japan today. Abang Johari said Sarawak remains committed to strengthening ties with Japan, particularly in digital technology, green hydrogen and ammonia, and renewable energy. He also outlined Sarawak's economic focus on six key pillars – manufacturing, agriculture, tourism, forestry, mining (including oil and gas), and services – driven by innovation, sustainability, and global partnerships. These priorities, he said, align with national strategies such as the 13th Malaysia Plan and the National Investment Policy, positioning Sarawak as a national hub for renewable energy, semiconductors, and aerospace-related economic activities. 'Our clean, reliable, and affordable renewable energy, mainly from hydropower, solar, biomass and waste to energy, positions Sarawak among the most sustainable regions in Southeast Asia. 'We offer a stable political climate, transparent governance, and an investor-friendly environment with robust infrastructure, pro-business policies, and expanding digital, air, and sea connectivity,' he said. Abang Johari added that Sarawak shares core values with Japan, such as discipline, harmony with nature, resilience and determination. 'From Osaka to Kuching, our stories are intertwined,' he said. During the event, a Memorandum of Agreement and five Memoranda of Understanding were signed, covering collaborations in manufacturing, renewable energy, tourism, including the Sarawak-MM2H programme, and bamboo-based forestry ventures. Sarawak Week, which started on 4 August 2025, has attracted many visitors to experience what Sarawak has to offer. Among the showcases include Sarawak's uniqueness through digital display on Sarawak development initiatives, cultural shows and pocket talks on investment, tourism and talent development. Visitors to Sarawak Week also interacted with Kristy AI, Sarawak's multilingual smart engagement ambassador, to know more about Sarawak. Sarawak Week, which began on Aug 4, has drawn significant interest from visitors experiencing Sarawak's offerings through digital exhibits, cultural performances, and talks on investment, tourism, and talent development. Visitors also interacted with Kristy AI – Sarawak's multilingual smart engagement ambassador – and enjoyed live demonstrations of Buriek weaving, Sape music and traditional performances, showcasing the state's rich cultural heritage. Also present were State Minister of Tourism, Creative Industry and Performing Arts Dato Sri Abdul Karim Rahman Hamzah and his Deputy Minister Datuk Sebastian Ting; State Deputy Minister of International Trade, Industry and Investment Datuk Dr Malcolm Mussen Lamoh; State Deputy Minister of Youth, Sports and Entrepreneur Development Datuk Dr Ripin Lamat and State Deputy Minister of Utility and Telecommunication Datuk Ibrahim Baki. Abang Johari green Japan Malaysia Pavilion Sarawak Week
Time of India
25-07-2025
- Business
- Time of India
Not just trade: How the India pavilion at World Expo Osaka 2025 blends everything from Ajanta to AI
At the World Expo Osaka 2025 , India took the strategic approach — using culture as capital. Sachchidanand Joshi , Member Secretary of the Indira Gandhi National Centre for the Arts ( IGNCA ), says the India Pavilion was envisioned not just as a platform for trade promotion, but as a demonstration of civilisational strength and cultural soft power. The 184-day expo that began in April 13 and will continue till October 13, 2025 in Osaka, Japan, is an event that brings together people and innovations from around the world in an effort to address issues facing humankind on a global scale. By blending heritage with innovation — from ancient craftsmanship to space technology — the India pavilion positioned the country as a nation where tradition drives future-ready thinking and global influence is shaped as much by values as by economic metrics. Edited excerpts. Economic Times (ET): What was your original vision when you set out to conceptualise the India Pavilion at World Expo Osaka 2025? Explore courses from Top Institutes in Please select course: Select a Course Category Technology Data Analytics CXO Operations Management Data Science Leadership Others PGDM Healthcare Design Thinking others Finance Management MCA Data Science Artificial Intelligence healthcare Degree Product Management Project Management Cybersecurity MBA Digital Marketing Skills you'll gain: Duration: 12 Weeks MIT xPRO CERT-MIT XPRO Building AI Prod India Starts on undefined Get Details Sachchidanand Joshi (SJ): When we began conceptualising the India Pavilion, our vision extended far beyond showcasing trade and commerce. While expos traditionally served as platforms for economic dialogue, today they are also cultural statements. We envisioned a space that reflects India's civilisational journey — one that embodies our cultural legacy, philosophical ethos, and contemporary aspirations. The Pavilion is designed not just to highlight India's economic progress, but also to represent our civilisational wisdom as a model for global growth and harmony. ET: How did you translate India's timeless cultural identity into a future-forward, immersive space? SJ: We drew inspiration from iconic symbols like the Ajanta caves, which evoke wonder and reverence across the world — especially in regions influenced by Buddhism. We reimagined that same spirit using contemporary digital tools to create an immersive, sensorial experience. Structurally, we transcended the conventional by transforming a rectangular building into a lotus-inspired form. The petals — engineered to change hues with light — create an interplay of heritage and futurism. Our approach to 'future-forward' was subtle but deeply impactful, rooted in aesthetics and timeless symbolism rather than excessive digital display. Live Events ET: What role did technology and storytelling play in shaping the Pavilion's immersive narrative? SJ: Storytelling was central to the Pavilion's design. Rather than disjointed exhibits, we created a continuous, evolving narrative — from the Mohenjo-daro bronze girl to Chandrayaan . Each segment builds on the previous, weaving India's civilisational arc through heritage sites, indigenous technologies like terracotta, and modern engineering marvels like Vande Bharat trains. Technology served as a facilitator — not to overwhelm, but to connect the audience emotionally with India's journey from ancient roots to contemporary innovation. The India Pavilion at World Expo Osaka 2025. ET: How did you strike a balance between ancient inspiration and contemporary expression? SJ: The balance came naturally because in Indian philosophy, tradition and modernity are not opposites — they are intertwined. We followed the idea of nityanutan cha puratan — 'eternal yet ever-evolving.' That essence shaped our design approach. Rather than force a juxtaposition, we embraced continuity. The cultural motifs and values were seamlessly expressed using contemporary materials and forms, making the Pavilion a living bridge between the past and the future. ET: You've often spoken of India's cultural roots as a source of soft power. How do you see the arts — especially when combined with innovation — contributing to India's global influence today? SJ: India's culture is not merely soft power — it is strong power. Across the globe, India is first recognized for its heritage. Our economy, science, and defense may be growing rapidly, but our identity remains deeply rooted in cultural depth. By integrating artistic expression with innovation, we are able to present a compelling, relatable narrative to global audiences. Whether through design, craft, or storytelling, India's message resonates more powerfully when it is anchored in tradition and elevated by technology. ET: From Ajanta to AI — that's a powerful arc. How does the IGNCA interpret the meeting point of tradition and technology? SJ: We engaged experts across disciplines — from cultural historians to tech leaders — to explore how our civilisational ethos can inform modern innovation. The result is an approach where cultural roots are not compromised but enhanced by technology. It is not about creating a binary between the past and future — it is about ensuring they travel together. ET: What message does the India Pavilion send to the world about the kind of future India envisions? Is it more about continuity, reinvention, or a fusion of both? SJ: The Pavilion represents civilisational continuity rooted in sustainable ideals. The Expo's theme of 'Designing future society for our lives' finds its natural expression in India's ancient wisdom — Vasudhaiva Kutumbakam , the world is one family. Our tagline, Yatra Vishwam Bhavati Eka Needam, reflects that vision of unity and coexistence. The future we envision is one where tradition and technology coexist, where prosperity is built on inclusiveness, and where progress is aligned with purpose. ET: How are you engaging India's youth — students, artists, and creators — in this global celebration of Indian culture? What does the Pavilion offer them as a platform or inspiration? SJ: The Pavilion is as participatory as it is immersive. From yoga sessions to craft workshops and digital experiences, we've created opportunities for youth engagement at every level. Young visitors interact with artisans, learn from cultural demonstrations, and contribute through collaborative spaces. Despite time limits at the Expo, visitors often spend hours here — a testament to the Pavilion's dynamic ability to engage, inspire, and educate. ET: In what ways does IGNCA today function as an instrument of cultural diplomacy? How do international platforms like the Expo expand its mission and reach? SJ: IGNCA serves as India's cultural think tank and repository. Our work in research, documentation, and cultural curation enables us to support India's diplomatic narrative with authenticity and depth. Platforms like the Expo allow us to extend that role globally. By showcasing India's cultural richness in such a global context, IGNCA helps shape perceptions, build cultural bridges, and advance India's position as a knowledge-driven, value-based civilisation. ET: What does leading such a globally visible cultural initiative teach you about the importance of narrative — and the responsibility of curating one for a nation? SJ: This journey reaffirmed the power of believing in your roots. Often, in trying to imitate global trends, we risk losing our own voice. But when we build with conviction in our heritage, the results resonate deeply. It also showed me that we, as Indians, have the talent, vision, and capacity to create world-class experiences. The Pavilion is almost entirely made in India — from concept to design — and that in itself is a story of cultural and creative self-reliance. It taught me that the narrative of a nation must come from within — rooted in truth, elevated by creativity, and guided by purpose.
Korea Herald
06-06-2025
- Health
- Korea Herald
Biotropics Malaysia Berhad Signs Strategic MOU with ASK Intercity Co., Ltd. to Bring Physta® Tongkat Ali to the Japanese Market
KUALA LUMPUR, June 6, 2025 /PRNewswire/ -- In a significant move to advance natural, evidence-based health solutions in Japan, Biotropics Malaysia Berhad has signed a Memorandum of Understanding (MOU) with ASK Intercity Co., Ltd. for the sales and distribution of Physta ® Tongkat Ali, Biotropics' proprietary standardized extract, in the Japanese market. The MOU signing took place at the Malaysian Pavillion of the World Expo Osaka 2025, during the opening of 'Sustainable Agriculture Week' witnessed by The Honorable Datuk Seri Haji Mohamad bin Sabu, Minister of Agriculture and Food Security. This partnership unites two companies with a shared commitment to the development and marketing of high-quality, clinically supported herbal ingredients. With decades of industry experience, both companies are dedicated to raising the standards of natural product innovation through scientific rigor, transparency and product integrity. Physta ® Tongkat Ali, developed through a landmark collaboration between the Malaysian Government and the Massachusetts Institute of Technology (MIT), stands as one of the world's most clinically studied Tongkat Ali (Eurycoma longifolia) extracts. It is backed by over 20 clinical studies and has been shown to support energy, vitality, libido, immunity, stress management and hormonal health. Recently, new research from Biotropics has uncovered Physta ® 's efficacy in supporting hormonal balance and reducing stress in pre- and postmenopausal women—a breakthrough expansion from its earlier positioning as a male-centric supplement. This positions Physta ® as a versatile ingredient for a broader demographic, supporting both men and women in managing age-related health challenges naturally. "In light of Japan's rapidly ageing population and growing demand for preventive, plant-based health solutions, we believe Physta ® brings timely and relevant benefits," said Haliza Ramli, CEO of Biotropics Malaysia. "There is a surge of interest for Tongkat Ali globally and this collaboration reflects a mutual vision: to deliver clinically supported, high-quality herbal ingredients that meet the needs of discerning, health-conscious consumers." Koichi Hosaka, CEO and Managing Director of ASK Intercity, added, "We are excited to work with Biotropics, a globally respected leader in herbal research. Tongkat Ali is already recognized internationally, and we believe Physta ® will be very appealing to Japanese consumers seeking natural vitality, stress support, hormonal balance and even looking for Power of Malaysian original forest". The partnership arrives at a pivotal time: Japan has the world's oldest population, with over 29% aged 65 and above. As healthy ageing becomes a national priority, ingredients like Physta ® —with proven benefits and gender-inclusive applications—offer real value to brand owners formulating for this dynamic segment. The MOU aims to redefine natural wellness in one of Asia's most mature and discerning health markets and sets foundation for future cooperation between Malaysia and Japan in the field of herbal science, innovation and market development. Biotropics' portfolio—including BioKesum ®, SLP+ ®, Nu-Femme ®, and Eurecta ® —continues to expand, driven by strong IP, clinical validation and Malaysia's rich botanical heritage.
