Latest news with #IskandarPuteri
Malay Mail
9 hours ago
- Business
- Malay Mail
Anwar: No RON95 price hike despite global oil surge, Iran-Israel conflict
ISKANDAR PUTERI, June 19 — Prime Minister Datuk Seri Anwar Ibrahim said the government would not raise the price of RON95 petrol following the increase in global oil prices and the ongoing conflict between Iran and Israel. He said the decision was taken because of its impact on the people and the country's economy. 'Price fluctuations for oil are a common feature, but the latest spike was particularly abrupt and was triggered by the recent Israeli military assault on Iran. 'Previously, oil prices were low, but the increase this time has been quite sharp. The recent price hike is partly due to increased demand and also contributes to national revenue,' he told reporters after attending a close-door Johor PKR leadership event held at the Mall of Medini here today. Anwar attended in his capacity as the PKR president. Anwar, who is also the finance minister, assured that there would be no immediate changes to domestic oil prices. He said that any future price adjustments would be made after taking into account the needs and financial capacity of the people. Previously, it was reported that oil prices could soar to US$130 (RM553) per barrel if Iran decides to close the Strait of Hormuz. Tehran was considering closing the strait in response to the Israeli attack. The strait handles 20 per cent of global oil shipments and 80 per cent of oil and liquefied natural gas (LNG) trade for Iran, Saudi Arabia and the United Arab Emirates (UAE). On a separate matter, Anwar denied that he knew the names of three senior policemen whose names will be presented to the Yang di-Pertuan Agong, Sultan Ibrahim Sultan Iskandar for the next Inspector-General of Police (IGP). He said that he will have to check. Earlier today, it was reported that the names of three IGP candidates to replace Tan Sri Razarudin Husain have been sent to Istana Negara. Razarudin will end his contract on June 22 after two years at the helm of the country's police force. It is understood that the three names mentioned are Deputy Inspector-General of Police, Tan Sri Ayob Khan Mydin Pitchay; Internal Security and Public Order Department director Datuk Seri Azmi Abu Kassim and Special Branch director Datuk Seri Mohd Khalid Ismail.
Malay Mail
9 hours ago
- Politics
- Malay Mail
Anwar tight-lipped on new IGP appointment, says decision not final yet
ISKANDAR PUTERI, June 19 — Prime Minister Datuk Seri Anwar Ibrahim did not disclose if the name of the individual who will be appointed as the new Inspector-General of Police (IGP) to replace Tan Sri Razarudin Husain, whose contract is scheduled to end on June 22, has been finalised or not. He also declined to say whether a list had been submitted to the palace. 'But who told you? Is it true? I'll ask the King later,' he quipped when asked by reporters about the matter. Anwar's statement came after media reports claimed that a list of IGP candidates had been finalised by the government and submitted to the Yang di-Pertuan Agong. The appointment of the IGP is the prerogative of the Yang di-Pertuan Agong, based on the prime minister's advice, as stipulated under Article 140 of the Federal Constitution. Razarudin was appointed as the 14th Inspector-General of Police for a two-year contract after his retirement, effective June 23, 2023, succeeding Tan Sri Acryl Sani Abdullah Sani. — Bernama
Malay Mail
10 hours ago
- Business
- Malay Mail
Govt to clarify expanded SST, won't burden M40 or lower-income groups, says PM Anwar
ISKANDAR PUTERI, June 19 — Prime Minister Datuk Seri Anwar Ibrahim said the government will provide a more detailed explanation regarding the expanded Sales and Service Tax (SST), which will take effect on July 1. He acknowledged that there was confusion regarding the expanded tax and the government aims to ensure that its implementation will be done in a targeted manner. 'I agree that the government needs to give an explanation and to clarify the matter. 'What is important is that we do not want to burden the lower-income groups or the M40,' he told reporters after attending a close-door Johor PKR leadership event held at the Mall of Medini here today. The prime minister attended in his capacity as the PKR president. Anwar, who is also the finance minister, explained that previous general statements on the expanded SST had also caused some confusion. He gave an example of a statement saying that bananas were soon subjected to the SST, but clarified that this only applied to imported bananas. 'This issue has created some confusion where the public argued that even the poor consume fruits. 'This is an area where the government can address to the public in addition to making one or two changes,' he said. Anwar said taxation was an important feature for the government as it will see to better schools and public hospitals. 'We have to think of where the government can get funds to maintain public hospitals with better facilities and improved school buildings,' he said, adding that such taxes are mainly for those that are in the higher income bracket and foreigners.
Free Malaysia Today
11 hours ago
- Business
- Free Malaysia Today
Financial institutions ready to support JS-SEZ investors, say industry leaders
FMT managing director Azeem Abu Bakar (left), head of FDI advisory in the CEO's office at UOB Chiok Sook Yin (second from left), Affin Hwang Investment Bank's head of research Loong Chee Wei (centre), and Deloitte Malaysia executive director Thean Szu Ping during a session at the Nikkei Forum Medini, Johor 2025, co-organised by Iskandar Investment Bhd in Iskandar Puteri, Johor, yesterday. ISKANDAR PUTERI : Financial institutions are prepared to provide end-to-end support for investors in the Johor-Singapore special economic zone (JS-SEZ), offering a full suite of services to facilitate foreign direct investment, say industry leaders. Chiok Sook Yin, head of foreign direct investment advisory in the CEO's office at United Overseas Bank Ltd, said the bank was well-positioned to 'connect the dots' for businesses entering Malaysia. 'Besides having strong network connectivity, we have financial supply chain management solutions that help investors expand local sourcing and support new suppliers that follow (prominent) companies into Malaysia. 'We're also helping lower the barrier to entry for investors and addressing their concerns before they enter the markets they've targeted,' she said during a session at the Nikkei Forum Medini, Johor 2025, co-organised by Iskandar Investment Bhd here today. Chiok was responding to a question from FMT managing director Azeem Abu Bakar, who moderated the session, on the role that financial institutions play in supporting expansion into the JS-SEZ. 'Johor is an up-and-coming hub where we're seeing a lot of cross-border opportunities and businesses. 'What's going to unlock this potential is the financial aspect, and to make things happen here, the money has to come in,' he said. JS-SEZ was formally established in January through an agreement between Malaysia and Singapore to boost economic connectivity between the state and the republic. It aims to attract 100 projects worth RM100 billion and create about 100,000 jobs in high-value sectors such as manufacturing, digital economy, logistics, clean energy, and tourism over the next decade. Chiok noted that JS-SEZ was attracting strong interest not only from Singaporean companies but from those in Europe and North Asia as well. Meanwhile, Affin Hwang Investment Bank's head of research, Loong Chee Wei, said the bank had evolved beyond financing to help connect stakeholders such as state authorities, manufacturers, and supply chain partners. 'We have strategic agreements to collaborate with key sectors and promote investment, including from Japan to Malaysia. 'We also advise our institutional investors and organise trips to Johor to explore opportunities,' he said. Deloitte Malaysia executive director Thean Szu Ping added that while financial institutions played a key role as facilitators, the government was also stepping up efforts to attract investment, especially in high-tech industries. 'For these industries, a special tax rate of 5% is available for up to 15 years. 'There are also additional incentives for capital-intensive industries, which will receive an investment tax allowance instead of a reduced tax rate,' she said.
Free Malaysia Today
a day ago
- Business
- Free Malaysia Today
Businesses want to see policy continuity for JS-SEZ, says UEM group MD
FMT managing director Azeem Abu Bakar (left) and UEM Group Bhd managing director Amran Hafiz Affifudin at the Nikkei Forum Medini, Johor 2025 today. ISKANDAR PUTERI : Continuity and clarity in policy are crucial for the success of the Johor-Singapore Special Economic Zone (JS-SEZ), said UEM Group Bhd managing director Amran Hafiz Affifudin. Describing continuity as the 'most important enabler' of business confidence, Amran said stable policies were vital to attract long-term investments into the region. 'As a member of the business community, we like to see continuity in policy, especially as an infrastructure company. Our investments are long-term, so clarity and continuity of policy are very important. 'We are a business with heavy capital expenditure. Policy stability is critical,' he said at the Nikkei Forum Medini, Johor 2025, co-organised by Iskandar Investment Bhd (IIB), here today. FMT managing director Azeem Abu Bakar, who moderated the session, pointed to UEM Sunrise – UEM Group's property development arm – as an example of how policy shifts had influenced investor sentiment over time. 'When the Iskandar Puteri development corridor was first announced under former prime minister Abdullah Ahmad Badawi, UEM Sunrise's shares climbed to around RM3. 'Then came policy tightening from 2014, particularly restrictions on Singaporean buyers to cool rising property prices, and the share price fell to around RM1 before dropping further to about 20 sen during the Covid-19 pandemic,' he said. He said that following the announcement of the JS-SEZ, UEM Sunrise's shares rebounded to above RM1. Azeem asked what degree of policy clarity would be needed to sustain this momentum, especially in light of former economy minister Rafizi Ramli's resignation and the absence of a named successor. A comprehensive blueprint for the JS-SEZ, led by Rafizi, was expected to be finalised and unveiled by the end of 2025. The plan outlines the zone's long-term vision, strategic direction, and investment opportunities to attract both domestic and international investors. Following his defeat in the race for PKR deputy president, Rafizi submitted his resignation as economy minister to Prime Minister Anwar Ibrahim. Before his departure, according to a Malay Mail report, Rafizi had assured stakeholders that the JS-SEZ's progress would not be affected by political changes, and that the government remained committed to its long-term development. Amran also emphasised the need to build a strong talent pool in Johor and across Malaysia. 'Nurturing local talent from Johor is the number one priority. Secondly, we need to attract talent from other parts of Malaysia. 'The theme of this forum is 'Driving Asia's Innovation Hub'. If there's no talent, there's no innovation, which means there's no hub,' he said. Despite the political changes, he expressed confidence in the collaboration between the federal and Johor state governments with Singapore in formulating incentives to drive growth. 'We hope whatever policies are being formulated now, and in the future, will make doing business in the JS-SEZ easy,' he said.
