AirAsia's 16-Year Skytrax Streak Proves Malaysian Brand Strength

KUALA LUMPUR, June 18 (Bernama) -- AirAsia's recognition as the World's Best Low-Cost Airline by Skytrax for the 16th consecutive year is not only an acknowledgment of its operational excellence but also a testament to the strength of a Malaysian brand on the global stage, Deputy Prime Minister Datuk Seri Fadillah Yusof said today.
He said this sustained achievement reflects the resilience of a Malaysian-born brand that has transformed the regional aviation landscape.
'Through affordable connectivity, AirAsia has opened new opportunities, empowered communities and boosted growth in tourism, trade and cross-border travel.
'AirAsia's journey is proof of Malaysia's capacity for innovation, resilience and aspiration, demonstrating that with vision and commitment, we can shape the future of regional and global aviation,' he said in a Facebook post, while extending his congratulations on the recognition.

Try Our AI Features

Explore what Daily8 AI can do for you:

Learn with AIFact CheckingText to SpeechAI Summary

Related Articles

BusinessToday

42 minutes ago

• BusinessToday

Malaysia's GDP Growth Forecast To Slow To 4.3%, BNM Expected To Cut OPR: ICAEW Report

FMIP Malaysia's economy is expected to decelerate in 2025 as external challenges mount, according to the latest Southeast Asia Economic Insight Q2 2025 report by the Institute of Chartered Accountants in England and Wales (ICAEW). The report forecasts Malaysia's GDP growth to slow to 4.3% this year from 5.1% in 2024, citing global trade tensions and waning demand from key partners such as the US and China. Despite a strong start to the year, with goods exports surging 26% year-on-year in April, ICAEW cautions that this uptick is largely due to front-loaded shipments to the US ahead of anticipated tariff hikes. Export growth is expected to cool significantly in the second half of the year, after already slowing to just 1.6% year-on-year in Q1 2025, well below the 7.1% average recorded over the previous three quarters. Malaysia's reliance on global trade—especially with the US, which directly or indirectly accounts for over 4% of GDP and 11% of gross exports—makes it vulnerable to tariff risks. While the US has softened its proposed blanket tariff rate on Malaysian imports to 10% from 24%, the measure still poses a threat to exporters. Meanwhile, weaker demand from China, Malaysia's top export destination, adds further pressure. However, ICAEW sees some bright spots supporting Malaysia's economy: Electrical and Electronics (E&E) exports remain robust, rising about 20% year-to-date on sustained global demand, reinforcing Malaysia's key role in the semiconductor supply chain. The tourism sector continues to rebound, with ASEAN tourists—who made up 67% of arrivals in 2024—driving a 17% year-on-year increase in tourism-related services exports in Q1 2025. 'ASEAN's strength lies in its unity,' said Dato' Mohammad Faiz Azmi, Executive Chairman of the Securities Commission Malaysia and ICAEW Council Member. Speaking at the ASEAN Investment Conference 2025 in Kuala Lumpur, he stressed the importance of regional cooperation in navigating global uncertainties. Monetary Easing Expected to Support Domestic Demand With fiscal space limited due to elevated public debt, ICAEW expects Bank Negara Malaysia (BNM) to take the lead in stimulating the economy. Subdued inflation—hovering around 1.5%—has created room for the central bank to cut its Overnight Policy Rate (OPR) by 50 basis points later in 2025. BNM has already adopted a more accommodative tone to counter risks from softening investment and consumer sentiment. The report highlights a broader economic deceleration trend across key indicators from March 2022 to March 2025, including: Slower GDP growth Weakened private consumption Moderated goods and services exports Nonetheless, ICAEW believes Malaysia's economy will stay on track, thanks to timely policy measures and resilient performance in strategic sectors. Singapore and China Also Facing Slowdowns The ICAEW report also provided updates on other major regional economies with Singapore where GDP contracted 0.6% quarter-on-quarter in Q1 2025, dragged by weak manufacturing and wholesale trade. A temporary export surge in April (+25% YoY) has likely delayed a technical recession. Full-year GDP is forecast at 1.8%, down from 4.4% in 2024, with policy buffers helping cushion the slowdown. As for China, GDP growth is projected to slow to 4.4% in 2025 (2024: 5.0%) amid continued weakness in property, investment, and consumption. Trade truce with the US offers short-term relief, but future tariff uncertainty and deflationary pressures persist. ICAEW adds that Southeast Asian economies need to remain agile, cohesive, and proactive in policy responses to maintain resilience and long-term growth. Related

New Straits Times

2 hours ago

• New Straits Times

NST Leader: Healthcare burden

Few wage earners, especially Gen Z and millennials, seem concerned about saving for retirement. They view a nest egg as a strange concept, believing it's the the Employees Provident Fund's (EPF) responsibility. Their main concern is current spending, not on big purchases but on daily essentials — utilities, Internet data, rent, food, clothes, transportation and family support. Whatever little left of their monthly salaries goes towards leisurely pursuits. Even with an inflationary economy, these expenditures have bumped Malaysian consumer annual spending by five per cent, reaching RM904.6 billion, according to one study. This heavy spending has driven consumption growth back to pre-Covid-19 levels, supported by a rebounding economy that mirrors previous consumption patterns. Apparently, this RM904.6 billion in spending is still insufficient, especially for significant expenses that monthly salaries can barely cover. This has led to calls for the EPF to expand Account 2 for medical insurance, in addition to existing withdrawals for education, housing and healthcare. Are Malaysians burdened by medical insurance costs? Premiums can range from RM100 to more than RM2,500 monthly, depending on age, health condition, coverage and policy terms. Medical inflation in Malaysia is significant, at a high rate of 12.6 per cent. Consequently, falling ill without insurance is difficult, but hospitalisation — unless it's a government–subsidised facility — is almost unaffordable. Many Malay-sians, preferring smoother and faster admittance, opt for expensive private hospitals even though diagnosis and treatment quality are comparable to public facilities. Given the rising medical and living costs, the demand to widen Account 2 withdrawals is understandable. If approved, this expansion could significantly improve medical insurance coverage and take a big weight off the national healthcare system but it would also inevitably deplete EPF savings, particularly if funds are spent on non-essential or poorly chosen insurance plans, a risk further aggravated by aggressive marketing from health insurance companies. Quantifying the EPF's potential allocation for medical insurance withdrawals is challenging, but it would likely be substantial given that nearly everyone might apply. While previous figures show personal medical insurance coverage among Malaysians ranging from 22 to 45 per cent, a 2024 survey reported that 42 per cent have no coverage at all. If approved, the EPF must set clear guidelines on eligible insurance types and treatments. At the same time, contributors need to understand the long-term trade-offs of prematurely depleting their retirement funds. Ultimately, the quickest way to ensure coverage is to view medical insurance much like rent: costly but necessary. Perhaps Malaysians could redirect some funds from their monthly budget or "unnecessary" spending. Such choices would be difficult. Still, EPF contributors will likely argue that present survival is more relevant than worrying about the future. This perspective stems from an emerging philosophy of "retired but still working", a reality already taking hold.

Barnama

2 hours ago

• Barnama

President Prabowo Invites Russian Firms to Enter Indonesian Market

ST. PETERSBURG, June 20 (Bernama-Sputnik/RIA Novosti) -- Indonesia is open for business and welcomes Russian companies to invest in the Indonesian market, President Prabowo Subianto said on Friday, Sputnik/RIA Novosti reported. "We are open for business. We invite all groups from everywhere, especially Russian entities ... We know Russian corporations, and we would like to see Russia participate more in our economy," Prabowo Subianto said at a plenary session of the the 2025 St. Petersburg International Economic Forum (SPIEF). The Russian city of St. Petersburg is hosting the 28th edition of SPIEF from June 18-21 under the theme of "Shared Values: The Foundation of Growth in a Multipolar World". Rossiya Segodnya international media group, RIA Novosti's parent company, is the forum's information partner.