This week, Malaysia’s Cabinet will discuss a proposal to hold a “downsized” version of the Commonwealth Games in 2026, replacing the original host, the Australian state of Victoria, which pulled out of the event last year. According to a Reuters report published on Monday, the Commonwealth Games Federation (CGF) had offered Malaysia $127.33 million in … Read more
The largest public savings and investment fund in Malaysia is called the Employee Provident Fund, or EPF. Enrollment in the fund is compulsory for most Malaysians working in the private sector, with a mandatory contribution of 11 percent of their annual salary. Employers also contribute. The funds are invested in a mix of stocks and … Read more
Malaysia and the United Arab Emirates (UAE) are on the cusp of finalizing a free trade agreement and should have it squared away by June, Malaysia’s trade minister said yesterday. In an interview with Reuters in Abu Dhabi, Malaysian Trade Minister Tengku Zafrul Aziz said that the two sides were “in the last round of … Read more
Abdul Taib Mahmud, who ruled the East Malaysian state of Sarawak as a personal fiefdom for 33 years, delivered fantastic wealth to his family and a close-knit community of sycophants, has been laid to rest at a state funeral in Kuching following his death at the age of 87. Known as Pak Uban or the “white haired … Read more
Pharmaniaga is one of the largest pharmaceutical distributors in Malaysia. A big part of its success is that since 1994 it has been awarded a government concession to provide medical supplies to the public sector. But Pharmaniaga is not a state-owned company, in that the government of Malaysia does not directly own shares. Instead, it … Read more
Malaysia is a resource-rich country with a smallish population of around 30 million. This means it produces more commodities (petroleum, palm oil, etc.) than it can consume, and exports the surplus. These exports generate revenue for the state through taxes and royalties, as well as through public ownership of the oil and gas company Petronas, … Read more
Malaysia’s Prime Minister Anwar Ibrahim yesterday announced a major cabinet reshuffle, amid growing public discontent around the state of the Malaysian economy. Speaking during a televised press conference, Anwar, who also serves as finance minister, said that he would increase the size of the cabinet to 60 ministers and deputies, up from 55 previously, in … Read more
ASEAN Beat | Economy | Southeast Asia The group, which is majority owned by a pension fund for the Malaysian Armed Forces, has been sustaining heavy losses for years. Advertisement Boustead Holdings is a diversified holding company headquartered in Malaysia, with interests in palm oil, real estate, pharmaceuticals, finance, and heavy industry, specifically defense manufacturing. Until this year, Boustead … Read more
Pacific Money | Economy | Southeast Asia As with similar recent restrictions in Indonesia, the goal is to stimulate the development of a domestic processing industry. Advertisement Malaysia plans to ban exports of rare earth raw materials in a bid to boost domestic processing of the valuable elements, Prime Minister Anwar Ibrahim said yesterday, echoing a recent string of … Read more
Advertisement When we think about countries and clean energy, it is useful to make a distinction between those that will not and those that cannot make the transition. Countries like Singapore have the political will to transition as well as the capital markets, technology, and governance structures to make it happen. Others, like Vietnam and … Read more