KUALA LUMPUR (Oct 7): The Dewan Rakyat passed the 12th Malaysia Plan 2021-2025 without amendment on Thursday, after four days of debate and a winding-up session that spanned three days by the ministries.

Dewan Rakyat passes 12th Malaysia Plan by voice vote

The Institute for Democracy and Economic Affairs (IDEAS) has lauded the many aspects of the 12th Malaysia Plan (12MP) tabled by Prime Minister Datuk Seri Ismail Sabri Yaakob earlier on Monday, which include an expansionary fiscal approach, its focus on the people’s well being and unity, as well as on advancing sustainability.

IDEAS: Private-led growth should also be promoted under 12MP

The 12th Malaysia Plan (12MP) aims to position Malaysia as the ASEAN digital centre, given the country’s strong capability in cyber security solutions and digital content production.

12MP seeks to position Malaysia as ASEAN digital centre

The 12th Malaysia Plan (12MP), a roadmap for the country’s development from 2021 to 2025, has set a target annual gross domestic product (GDP) growth of between 4.5% and 5.5% for the five-year period.

12MP targets annual GDP growth of 4.5%-5.5%; GNI of RM57,882 by end-2025

In the 12th Malaysia Plan (12MP), priority will be given to improve national security and safeguard sovereignty in ensuring the nation remains peaceful and prosperous. Meanwhile, healthcare service delivery, provision of quality and liveable affordable houses will be improved.

According to the 12MP (2021-2025) report tabled in Parliament by Prime Minister Datuk Seri Ismail Sabri Yaakob on Monday, sports will be leveraged to build an active nation, while unity among the people will be enhanced. This is in line with the Shared Prosperity Vision 2030 and 2030 Agenda Pembangunan Mampan.

12MP: Strengthening national defence and security, well-being of the people

During the 11th Malaysia Plan (11MP), various efforts were implemented to raise income and uplift the well-being of the people. Ten selected targets were targeted in enhancing inclusiveness towards an equitable society and improving the well-being of all, but only one target was achieved, while four others recorded significant progress.

12MP: Addressing poverty, building inclusive society

The water sector will be restructured to enable it to be a significant contributor to national growth and wealth creation through the Water Sector Transformation 2040 (WST 2040), a 20-year agenda outlined in the 12th Malaysia Plan (12MP) report.

12MP: Water sector to be restructured via 20-year transformation agenda

True to expectations of higher public spending to rejuvenate and revitalise the economy post Covid-19, total development expenditure under the 12th Malaysia Plan (12MP) (2021-2025) is the country’s largest-ever at RM400 billion — 54% more than the RM260 billion originally allocated under the 11MP (2016-2020).

12MP: RM400b development expenditure, fiscal balance -3.5% to -3% of GDP in 2025

Putrajaya is exploring the possibility of introducing a dedicated tax to fund poverty alleviation programmes as part of efforts to transform its approach in eradicating hardcore poverty by 2025 while ensuring that all Malaysians enjoy a decent standard of living, according to the 12th Malaysia Plan (12MP).

12MP: Dedicated tax to fund poverty alleviation programme mulled

During the 11th Malaysia Plan (11MP), various efforts were implemented to accelerate development in Sabah and Sarawak. Despite these efforts, development imbalances persist. Key issues include gaps in the provision of infrastructure and services, limited access to social services, challenges in security and public safety, as well as lack of progress in inclusive development.

12MP: Enhancing socio-economic development in Sabah, Sarawak

During the 11th Malaysia Plan (11MP) period, Malaysia’s economy grew at an average annual rate of 2.7%, driven mainly by the services and manufacturing sectors. The local economy, however, was affected by external headwinds and a slowdown in the global economy, especially in 2020. The Covid-19 pandemic disrupted the global value chain and domestic economic activities.

12MP: Restoring growth momentum via five focused sectors

Malaysia will implement a low-carbon, clean and resilient development plan to achieve sustained socio-economic growth, according to the 12th Malaysia Plan (12MP) report.

12MP: Nation to implement low-carbon, clean and resilient development plan

Last year, Malaysia’s gross national income (GNI) per capita was US$10,111 (RM42,503) — 20.4% below the minimum threshold to achieve a high-income economy set by the World Bank at US$12,696 for 2020.

12MP: Malaysia’s 2020 GNI per capita 20% below the threshold of a high-income economy

KUALA LUMPUR (Sept 28): Minister at the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed has disputed claims by opposition leader Datuk Seri Anwar Ibrahim that the Economic Planning Unit (EPU) had paid over RM2 billion to consultants to complete the 12th Malaysia Plan (12MP) report.

Govt paid 'very small sum', not RM2b, to complete 12MP report, says Mustapa

The mandatory general offer (MGO) for the remaining 34.1% stake in Pan Malaysia Holdings Bhd (PM Holdings), launched by property developer Exsim Group's founders, the Lim brothers, concluded on Friday with acceptances for only 35,997 shares received.

No change in Lim brothers' stake as Pan Malaysia Holdings' MGO concludes

Sapura Energy Bhd said trading in its shares has been suspended at the company's request pending a material announcement.

The suspension took effect from 2.30pm on Friday, Sapura Energy said in an exchange filing, fueling speculation in the market on what the announcement could be.

Trading in Sapura Energy suspended pending announcement

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on Friday due to persistent weakness in the soybean oil market on the Chicago Board of Trade, said a dealer.

Palm oil trader David Ng noted that market sentiment has been influenced by concerns regarding the anticipated surge in output over the coming weeks, which is perceived as exerting pressure on the market

CPO futures end lower due to weaker soybean futures

SINGAPORE (April 19): Wilmar International Ltd’s board of directors has appointed former foreign minister George Yeo as a non-executive and independent director with effect from Friday.

Wilmar appoints former Singapore foreign minister George Yeo as non-executive and independent director

The government is looking at the need to formulate policies and amend any relevant legislation so that Malaysia is always investor-friendly and can support the development of artificial intelligence (AI) infrastructure, said Prime Minister Datuk Seri Anwar Ibrahim.

However, he said data security should be given priority.

Govt mulls drafting policy, amend legislation to be investor-friendly and support AI development — PM

KUALA LUMPUR (April 19): Iconic Worldwide Bhd has raised a total of RM95.6 million through its rights issue exercise with free warrants, which was oversubscribed.

Iconic Worldwide’s rights issue oversubscribed, raises RM95.6 mil

KUALA LUMPUR (April 19): Proposals for improvement, including efforts to increase the net income rate of civil servants, will be announced by Prime Minister Datuk Seri Anwar Ibrahim at the Labour Day rally to be held later.

Anwar, in his Facebook post, said the Meeting No 3/2024 of the ...

Proposal to improve salary of civil servants to be announced at Labour Day gathering — PM

Prime Minister Datuk Seri Anwar Ibrahim said on Friday he does not want to be dragged into discussions over the purported addendum order on house arrest involving former premier Datuk Seri Najib Tun Razak.

Anwar said this was because the matter falls under the jurisdiction of the Federal Territories Pardons Board and also involves the Yang di-Pertuan Agong and the Malay Rulers.

Addendum order issue under Pardons Board's purview, says Anwar

SINGAPORE (April 19): CGS-CIMB Securities has officially rebranded as CGS International Securities (CGS International), as the integrated financial services provider launched its new identity in Singapore on Thursday (April 18).

CGS-CIMB Securities rebrands as CGS International, aims to double revenue to S$700 mil by 2030

KUALA LUMPUR (April 19): Silver Ridge Holdings Bhd said its wholly owned unit is being sued by a subcontractor over alleged outstanding contract payments.

Silver Ridge’s unit slapped with suit over alleged unpaid contract sums

Sapura Energy Bhd said trading in its shares has been suspended at the company's request pending a material announcement.

The suspension took effect from 2.30pm on Friday, Sapura Energy said in an exchange filing, fueling speculation in the market on what the announcement could be.

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.

Malaysia's economy grew 3.9% in 1Q2024, advance estimate shows

MKH Oil Palm (East Kalimantan) Bhd’s initial public offering (IPO) has been oversubscribed by 8.43 times, ahead of its listing on the Bursa Malaysia Main Market on April 30.&nbsp;

Main Market-bound MKH Oil Palm’s IPO oversubscribed by 8.43 times

The planned merger of Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, with India’s Bharti Airtel Ltd raises concerns as the latter's subsidiary Airtel Lanka is currently a loss-making company, analysts said.

Malaysia’s Axiata merger with Bharti Airtel of India raises earnings concern — analysts

The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.

KLCI up 0.43% with focus on energy, plantation, financial stocks

Financial services provider MIDF has reported a recent cyber security incident to relevant authorities and is collaborating closely with them on addressing the matter.

In a brief statement issued on Friday, MIDF affirmed that it takes the cyber security incident seriously and reiterated its commitment to safeguarding the privacy and security of customers' information.

MIDF confirms cyber security incident

Malaysia’s exports contracted at a slower than expected pace in March mainly due to lower foreign demand for electronics while shipments to China fell, official data Friday showed.

Malaysia’s March exports down 0.8%, imports surge 12.5%

Sime Darby Property Bhd, Malaysia’s biggest developer in terms of landbank, has secured commitment for the remaining 30% of its industrial development fund to close at RM1 billion.

Sime Darby Property gets commitment for balance 30% of RM1b industrial development fund

Kenanga Investment Bank has initiated coverage on soon-to-be listed oil and gas services firm Keyfield International Bhd at RM1.90 — reflecting a 111% premium over its IPO price of 90 sen per share — while giving it an “outperform” rating.

Kenanga sees Main-Market bound Keyfield International cashing in on OSV boom, sets target price at RM1.90

Automotive electronic parts manufacturer MCE Holdings Bhd has commenced the construction for its MCE Auto Hub, the company’s new manufacturing facility in Serendah, Selangor, with an initial investment of RM50 million for the first phase of the development.&nbsp;

MCE Holdings commences construction for RM50 mil manufacturing facility in Serendah 

PUTRAJAYA (April 19): Payment of fees&nbsp;for training or classes in esports, equestrian, swimming, motorsports and taekwondo is&nbsp;eligible for&nbsp;tax relief of up to RM1,000 from next year, said Youth and Sports Minister Hannah Yeoh.

Payment of fees for sports training eligible for tax relief from next year — Hannah

KUALA LUMPUR (April 19): Oil-and-gas services firm Yinson Holdings Bhd said on Friday that its indirect wholly owned subsidiary Yinson Production Offshore Pte Ltd (Yinson Production) has successfully placed a US$500 million five-year senior secured bond issue.

Yinson’s unit places US$500 mil five-year senior secured bonds

Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.

According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.

Melaka State Secretary Zaidi dies of heart attack

Batik Air will suspend its operations to Istanbul, Turkiye, effective May 1, 2024, and affected passengers will be notified via email and text, said the airline operator, Malindo Airways Sdn Bhd.

Batik Air to suspend operations to Istanbul from May 1

KUALA LUMPUR (April 19): Meta Bright Group Bhd is forming a joint venture company (JVco) with a Bumiputera firm to bid for renewable energy (RE) projects with a Bumiputera equity requirement.

Meta Bright forms JVco with Bumiputera firm for RE projects

KUALA LUMPUR (April 19): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia's afternoon close today. Four stocks displayed negative momentum while one stock displayed positive momentum

<h3>Stocks with negative momentum were:</h3>

<ul>
	<li>Kimlun Corp Bhd - unch...

Kimlun, Mclean, Poh Kong, Tomei, BM Greentech

EG Industries Bhd has secured a second letter of intent (LOI) from US-based Cambridge Industries Group (CIG) to produce a new 1.6 terabit optical signal transmitter and receiver for a 5G wireless network at EG Industries’ new smart factory 4.0 in Penang.

EG Industries expands partnership with US-based Cambridge Industries Group

DUBAI/JERUSALEM (April 19): Explosions echoed over an Iranian city on Friday in what sources described as an&nbsp;Israeli attack, but Tehran played down the incident and indicated that it had no plans for retaliation — a response that appeared gauged towards averting region-wide war.

Tehran signals no retaliation against Israel after drones attack Iran

Bursa Malaysia ended the week mixed on Friday with buying in selected heavyweights and commodity-related stocks amid the negative sentiment on regional markets, said an analyst.&nbsp;

12th-malaysia-plan

‌
‌

12th-malaysia-plan

‌‌

‌
‌