Chancellor Scholz’s three-party coalition government has fallen apart

It has accused X of promoting "disturbing content", and says Mr Musk is using it to "shape political discourse."

Chancellor Rachel Reeves has said firms will have to absorb higher taxes through their profits.

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MALAYSIA, like many Southeast Asian countries, faces the challenge of balancing sustainability, reliability and affordability in its energy goals. Is the country ready for renewables?

The country has set ambitious targets: net-zero emissions by 2050 and increasing the share of renewable energy in its power mix. These goals are impressive and align with the global push towards sustainable energy. However, achieving them requires more than ambition. We need strategic planning, significant investment and innovative technologies.

Prime Minister Datuk Seri Anwar Ibrahim’s visit to Berlin in March was not just ceremonial; it highlighted the importance of international collaboration and technology transfer in supporting Malaysia’s renewable energy goals. Global partnerships are essential for advancing the nation’s energy future.

Malaysia’s Renewable Energy Roadmap aims for 31% of the country’s power capacity to come from renewable sources by 2025 and for carbon emissions to be reduced by 45% by 2030. As of 2022, renewable energy capacity has grown to over 9,000 megawatts – a 50% increase since 2013.

However, renewable sources only produced 3.1 terawatt-hours of electricity, compared with 77.3 terawatt-hours from coal. Clearly, there is room for growth.

Imagine a seamless flow of electrons from renewable sources such as solar and wind into the national grid. These sources are often in remote areas, far from the high-demand city centres. The challenge is transporting this energy efficiently and ensuring a stable supply despite the variable nature of renewables.

Intermittency, the fluctuation in energy production from sources like solar and wind, can cause instability in the power grid, which traditionally relies on consistent output from fossil fuels. If the grid is not ready to handle these fluctuations, it could lead to blackouts or energy shortages.

To avoid stranding existing assets, Malaysia can repurpose peaker plants or retired thermal power plants using the Rotating Grid Stabiliser solution. This cost-effective solution ensures a reliable energy supply during the transition.

Stabilising voltage and frequency with synchronous condensers enhances the grid’s reliability, making it easier to integrate renewable energy. This approach supports the grid and maximises existing infrastructure, making the transition more practical and economically viable.

As mentioned, some sources of energy are far from high-demand city centres. This is not just a challenge for Malaysia but for the entire Southeast Asia. Efficient energy transport would ensure secure energy for Malaysia and nearby countries, making the region more resilient.

The Asean Grid ambition aims to create an interconnected electricity system among member states. By developing this integrated network, we can enhance energy security, promote renewable energy use and ensure a more reliable power supply across borders.

Long-distance power transmission requires a strong grid infrastructure. High-Voltage Direct Current (HVDC) technology can efficiently transmit large amounts of power over long distances with minimal energy loss.

Think of HVDC as a superhighway for electricity. This technology will allow Malaysia to export surplus renewable energy to neighbouring countries like Singapore, fostering regional cooperation and energy security.

Modernising the grid with HVDC will enhance Malaysia’s energy system, allowing it to accommodate more renewable energy and reduce environmental impact. This interconnected grid will support Malaysia’s renewable energy goals and set a precedent for sustainable development in the region.

However, these goals come with challenges. The energy sector is still developing and needs substantial investments – up to US$10.8 billion (RM47.33 billion) for solar PV alone. There is also a lack of awareness about the financial returns on these investments, which can hinder progress.

Public-private partnerships, supported by a strong regulatory framework, can help overcome these obstacles. Key actions include improving the financing landscape, reducing project approval times and ensuring policy transparency.

We recognise the complexities of this transition. With every step, we can make progress.

Malaysia’s journey will involve expanding renewable energy use, transforming conventional power, strengthening electrical grids, securing the supply chain and driving industrial decarbonisation. Each action contributes to a greener Malaysia.

Thorbjorn Fors is the group senior
vice president and managing director of
Asia Pacific Siemens Energy.
Comments: letters@thesundaily.com

TAIPEI: A state-funded English-language broadcaster in Taiwan removed a video of one of its journalists calling US President-elect Donald Trump a “convicted felon”, after the Taipei government said the incident was “very serious”.

Taiwan has publicly congratulated Trump on his victory, joining other governments around the world in trying to get onside with the next US administration.

Washington has long been Taipei’s most important supporter, but Trump raised concerns on the campaign trail by suggesting Taiwan should pay the United States for its defence and accusing it of stealing the US semiconductor industry.

TaiwanPlus correspondent Louise Watt was speaking on camera in the United States last week when she said “the US is either going to vote in its first female president or its first convicted felon”.

“Well America looks like it’s chosen the felon,“ Watt said, in a clip shared by Taiwanese broadcaster TVBS and seen by AFP.

Taiwan Culture Minister Li Yuan told local media on Saturday that TaiwanPlus took down the video after he told the broadcaster “that this issue is very serious”.

Public Television Service Foundation, which manages TaiwanPlus, said Monday the broadcaster had “humbly reviewed its operational procedures” following the report.

The foundation said it will convene a “self-discipline” committee this week to “discuss the matter”.

TaiwanPlus broadcasts videos on its website, YouTube and cable television.

More than 90 percent of its viewers are overseas, the foundation said.

In 2023, TaiwanPlus began showing in US hotels in “key cities frequented by political and economic elites, such as Washington, D.C., New York, Los Angeles, and Seattle”, the foundation said.

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NEW DELHI: A toxic haze enveloped India’s national capital on Wednesday morning as temperatures dropped and pollution surged, reducing visibility in some parts and prompting a warning from airport authorities that flights may be affected.

Delhi overtook Pakistan’s Lahore as the world’s most polluted city in Swiss group IQAir’s live rankings, with an air quality index (AQI) score of more than 1,000, considered “hazardous”, but India’s pollution authority said the AQI was around 350.

Officials were not immediately available to explain the variation.

The India Meteorological Department (IMD) said the pollution had reduced visibility to 100 metres (328 feet) in some places by around 8 a.m. (0230 GMT).

“Low visibility procedures” were initiated at the city’s Indira Gandhi International Airport, operator Delhi International Airport Limited said in a post on social media platform X.

“While landing and takeoffs continue at Delhi Airport, flights that are not CAT III compliant may get affected,“ the authority said.

CAT III is a navigation system that enables aircraft to land even when visibility is low.

The IMD said the city’s temperature dropped to 17 degrees Celsius (63 degrees Fahrenheit) on Wednesday morning from 17.9C on Tuesday, and may fall further as sunlight remains cut off due to the smog.

Delhi battles severe pollution every winter as cold, heavy air traps dust, emissions, and smoke from farm fires set off illegally in the adjoining, farming states of Punjab and Haryana.

Previously, authorities have closed schools, placed restrictions on private vehicles, and stopped some building work to curb the problem.

The city’s environment minister said last week that the government was keen to use artificial rain to cut the smog.

Pakistan’s Punjab province, which shares a border with India, has also banned outdoor activities, closed schools, and ordered shops, markets and malls to close early in some parts in an effort to protect its citizens from the toxic air.

TOY manufacturer Mattel have removed thousands of its ‘Wicked’-branded dolls off the shelves after discovering a x-rated printing error on the packaging.

The dolls were made in collaboration with the movie adaptation of the award-winning musical ‘Wicked’, fashioned after the characters.

CNBC reported that the website link printed on the dolls’ packaging lead to a pornographic website instead of the ‘Wicked’ movie adaptation’s official website.

Quoting Mattel’s apology statement, the company stated it was “aware” of a misprint on the doll’s packaging, mainly sold in US, intended to direct consumers to the movie’s landing page.

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“We deeply regret this unfortunate error and are taking immediate action to remedy this. Parents are advised that the misprinted, incorrect website is not appropriate for children,” Mattel was quoted as saying.

The company also advised consumers who have already purchased the dolls with the misprint to throw away the packaging or “obsure”, as quoted, the website link.

Following the misprint revelation, several online retailers across the US have pulled the dolls off their shelves as of Monday (Nov 11).

However, it is unclear if the toy manufacturing company will release the dolls with the correct print details or provide stickers to cover the mistakenly printed link.

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BRUSSELS: US top diplomat Antony Blinken warned Wednesday that the deployment of North Korean troops alongside Russian forces fighting on the Ukrainian border demanded a “firm response”.

The secretary of state was speaking at the start of a day of Brussels talks with NATO and EU officials to urgently address ramping up support for Kyiv before Donald Trump reclaims the White House -- potentially jeopardising future aid.

Addressing reporters alongside NATO chief Mark Rutte, Blinken said they had discussed the fact North Korean forces have been “injected into the battle, and now, quite literally, in combat which demands and will get a firm response.”

The US State Department confirmed Tuesday that Pyongyang’s troops -- whose entry into the conflict marks a potentially major escalation -- have begun “engaging in combat operations” alongside Russian forces near the border with Ukraine.

A spokesman said that of the more than 10,000 North Korean soldiers sent to eastern Russia, “most of them have moved to the far western Kursk Oblast, where they have begun engaging in combat operations with Russian forces”.

Rutte meanwhile stressed the crucial role played by China in helping Russia’s “war effort”, as well as Iranian weapons deliveries -- paid for with Russian funds that were in turn helping Tehran to “destabilize the Middle East”.

Blinken was taking part in a meeting of the North Atlantic Council, NATO’s decision-making body, before talks with European Union top diplomat Josep Borrell, his successor Kaja Kallas and Ukraine’s Foreign Minister Andriy Sybiga.

His emergency trip comes as Trump’s election victory, coupled with a political crisis in Germany, heightens fears about the future of assistance for Ukraine at a key point in the fight against Russia’s invasion.

Trump has in the past voiced admiration for Russian President Vladimir Putin and scoffed at the $175 billion the United States committed for Ukraine since the start of the war in 2022.

The 78-year-old tycoon, who will be inaugurated on January 20, spoke with Ukrainian President Volodymyr Zelensky after winning re-election following a first stint as president between 2017 and 2021.

He has boasted he can end the war in a day, likely by forcing concessions from Ukraine, although his newly named national security advisor, Mike Waltz, said Trump may also pressure Putin.

The Washington Post reported the Republican leader also held a phone call with Putin and discouraged an escalation by Russia. The Kremlin denied the report.

US media reported Trump might pick Republican Senator Marco Rubio to replace Blinken as secretary of state.

Rubio is seen as supportive of Kyiv but has also said Washington should show “pragmatism” rather than sending billions of dollars more in weapons as the war hit a “stalemate”.

‘As long as it takes’

The Biden administration has made clear it plans in its remaining weeks to push through the more than $9 billion of remaining funding appropriated by Congress for weapons and other security assistance to Ukraine.

Mark Cancian, senior advisor at the Center for Strategic and International Studies, expected the United States to focus in particular on sending vehicles, medical supplies and small-arms ammunition, which Ukraine needs and the United States can provide.

“Between now and the end of the administration, they’re going to try to ship everything they can that’s available,“ Cancian said.

Despite Kyiv’s pleas it seems unlikely, however, that Washington will lift its veto on Ukraine’s use of long-range missiles to strike deep into Russian territory.

Trump in his first term aggressively pushed Europe to step up defence spending and questioned the fairness of the NATO transatlantic alliance -- robustly defended by Biden.

“Whatever approach the US leadership takes towards Ukraine, Europe will have to step up, and we will have to take the lead in supporting Ukraine’s defence efforts and macro financial stability,“ said Olena Prokopenko of the German Marshall Fund of the United States.

“Unfortunately, Donald Trump’s win comes at arguably the worst possible time in terms of Europe’s political and economic shape and its ability to promptly coordinate”.

TAWAU: A total of 227 illegal Indonesian immigrants who were held at the Immigration Detention Centres in Kota Kinabalu and Papar were deported via Tawau Port to Nunukan Port, Tunon Taka Terminal, Indonesia yesterday.

Sabah Immigration Department director, Datuk Sh Sitti Saleha Habib Yussof said that the deportation process involved detainees aged between two and 82, comprising 107 men, 71 women, and 49 children, who travelled on the Purnama Express and Labuan Express ferries.

“This is the 19th series of deportation programmes for unauthorised immigrants by sea for the year 2024. They were detained for various offences under the Immigration Act 1959/1963 and Immigration Regulations 1963,” she said in a statement today.

She added that the deportation programme was carried out in collaboration with the Consulate General of Indonesia in Kota Kinabalu and the Indonesian Consulate in Tawau.

SHAH ALAM: A total of 387 cases of child abuse were recorded by the Selangor police from January to October, said state police chief Datuk Hussein Omar Khan.

He said that of the total, 139 victims were aged between 0 and 1 year, 96 were between two and five years old, while the and remaining victims were aged up to 18 years.

“Childcare providers were the main perpetrators of these crimes, followed by biological parents, teachers and stepparents,“ he said.

He made these comments to the press after officiating the second Child Interview Centre (CIC) under the Sexual, Abuse and Child Investigation Division (D11) of the Criminal Investigation Department (CID) at the Selangor police headquarters in Seksyen 11 police station today.

Hussein said police investigations found that most child abuse cases were caused by negligence, such as leaving babies or young children alone, which posed risks to the victims and led to neglect.

He also noted that there had been a trend of increasing reports of child abuse cases, partly due to growing awareness of violence against children among the public and various organisations.

“Some people are now coming forward and bravely making reports, thanks to numerous awareness programmes and initiatives by the Royal Malaysia Police (PDRM) in the community to provide information,“ he said.

Regarding the second CIC, Hussein said that RM180,000 had been allocated to refurbish an existing premises at the Seksyen 11 Police Station for this purpose.

He said the establishment of the second CIC, which has been operational since March 5, was in response to the increasing number of child-related cases that require interviews each year, with an average of 400 to 500 cases annually.

“The establishment of this CIC takes into account the rising number of cases, with 875 children already interviewed this year alone, involving various cases such as abuse, neglect and sexual offences.

“Given current needs, we are also planning to expand this service. Both CIC facilities are currently located in Shah Alam, so there is a need to extend them to Kuala Selangor, Sabak Bernam, Hulu Selangor or the southern part of the state,“ he said.

Hussein also said that the first CIC, established in 2014 and located in Seksyen 7, serves the police districts (IPD) of South Klang, North Klang, Gombak, Shah Alam, Hulu Selangor, Kuala Selangor, Kajang and KLIA.

“The second CIC caters to the IPDs of Petaling Jaya, Subang Jaya, Sabak Bernam, Kuala Langat, Sungai Buloh, Sepang, Serdang and Ampang Jaya,“ he added, noting that the centre conducts interviews with children under the age of 16, as referred by investigating officers from the 16 IPDs.

SINGAPORE: Royal Malaysian Navy (RMN) chief Admiral Datuk Zulhelmy Ithnain called on Singapore Defence Minister Dr Ng Eng Hen on Wednesday as part of his three-day introductory visit to the island republic.

The Singapore Defence Ministry (Mindef) said during the meeting at Mindef, both leaders reaffirmed the importance of maintaining strong ties between the navies of the two countries and discussed regional security developments.

“Zulhelmy’s visit underscores the warm and long-standing bilateral defence relations between Singapore and Malaysia,” Mindef said in a statement.

The Malaysian navy chief also called on the Republic of Singapore Navy (RSN) chief Rear-Admiral Sean Wat where they discussed opportunities to strengthen the relationship between the two navies.

Meanwhile, Zulhelmy will visit RSS Singapura – Changi Naval Base on Thursday as part of his programme here.

He will also visit the Information Fusion Centre, a regional Maritime Security centre situated at the Changi Command and Control Centre (CC2C), which is hosted by the RSN.

Zulhelmy, together with Wat, will also attend the opening ceremony of Exercise Malapura 2024 to commemorate the 40th anniversary of the flagship bilateral exercise between the RSN and RMN.

Exercise Malapura 2024 will be conducted from Nov 13 to 24.

The RSN and RMN interact regularly through bilateral exercises, visits and professional exchanges.

Beyond collaborative efforts to safeguard regional maritime security through the Malacca Straits Patrol, the two navies also engage through exercises held under multilateral platforms such as the Five Power Defence Arrangements, the ASEAN Defence Ministers’ Meeting (ADMM), and the ADMM-Plus.

Mindef said these interactions have enhanced the mutual understanding and professional ties between the two navies.

KUCHING: Sarawak police seized 10.4 kilograms (kg) of syabu estimated to be worth RM332,800 in a raid conducted at an apartment in Matang on Monday.

Sarawak Police Commissioner Datuk Mancha Ata said during the raid, a 57-year-old local man who tested positive for methamphetamine and amphetamine was also arrested.

“The total amount of drugs seized could be used by 52,000 addicts and a Kawasaki Z900 motorcycle estimated to be worth RM50,000 was also seized.

“Initial investigations by the police also found that the suspect had a record of past offences under Section 12(2) of the Dangerous Drugs Act 1952,“ he said in a statement here today.

Mancha said the suspect would be remanded for seven days from today until Nov 19 to assist in investigations under Section 39B of the Dangerous Drugs Act 1952.

SUBANG JAYA: The Domestic Trade and Cost of Living Ministry (KPDN) will summon the Johor Indian Muslim Entrepreneurs Association tomorrow to seek clarification on its proposal to raise food prices by five per cent starting next year.

Minister Datuk Armizan Mohd Ali said KPDN had issued a notice to the association under Section 21 of the Price Control and Anti-Profiteering Act 2011, requiring an explanation for the proposed price increase.

“Since this association has only just made the announcement for next year, we are taking proactive steps to prevent anyone from taking advantage of the situation.

“This notice is to summon the association to provide an explanation for their announcement regarding the price increase,” he told reporters after the signing of a Memorandum of Understanding (MoU) on price data sharing between KPDN, Mydin, and Redtick here today.

According to media reports, about 300 mamak restaurant operators in Johor expressed concerns about rising operating costs, with the implementation of the minimum wage next year expected to further increase expenses.

As a result, Indian Muslim restaurant operators are expected to raise food prices by at least five per cent at their premises from next year.

Elaborating, Armizan cited an example from OPS Kesan 2.0, where the ministry had taken action against those attempting to take advantage of the implementation of targeted diesel subsidies and the sales and service tax (SST) hike.

“Some parties announced a price increase, but after being summoned and asked to explain, it was found that their reasons were unfounded.

“For instance, the construction sector claimed that the price increase was due to the implementation of the targeted diesel subsidies, even though it is not eligible to use subsidised diesel,” he said.

Armizan said, therefore, that KPDN had issued a notice and taken action under OPS Kesan 2.0 to ensure that price increases were only made based on relevant, actual costs.

The Elephant Care Association of South Africa (ECASA) responds to Dr. Adam Cruise’s article, ‘Rules of Engagement: South Africa to ban captive wildlife interactions for tourists’ The Elephant Care Association of South Africa is deeply concerned by Dr Cruise’s article,...

KUALA LUMPUR: Malaysia’s government is monitoring developments in the United States for potential changes in policies as a new administration prepares to take office in Washington, said Economy Minister Rafizi Ramli.

He said that given the influence the US has on the global economy, any country in the world would conduct some level of due diligence on the impacts a change in the US administration might bring.

“That is part and parcel of planning. While we await the next few announcements, we will observe how the Trump administration will impact the global economy and ours,” he told reporters after the Sesi Libat Urus Industri Rancangan Malaysia Ke-13 today.

Rafizi said Malaysia must be nimble and agile to react and respond to any geopolitical and international developments that may arise from a change in administration, not only in the US but in any of its large trading partners. “And the US is a very large trading partner for us,” he pointed out.

However, Rafizi noted that many of Malaysia’s plans concerning semiconductors and energy transition are driven by domestic needs and are largely structural. “That means it’s something we have to go through to prepare our industry and economy to be more robust. So in that sense, I think all the key reforms that need to be done still have to be done.”

Additionally, he said, Malaysia’s 13th Malaysia Plan will include initiatives to position the country as a global provider of a comprehensive artificial intelligence-driven data centre ecosystem. “The government’s focus has always been to tap into the opportunities presented by the data centre boom.”

Rafizi emphasised that Malaysia aims to avoid simply attracting data centre without integrating into the data centre value chain and supply chain. “We have been working on a few catalytic interventions to create the ecosystem.”

Rafizi said that by the end of this decade, Malaysia aims to participate in the entire data centre value chain, first benefiting from existing and future data centers in the country. “But more importantly, for us to begin exporting our own data centers around the world.”

For the 13th Malaysia Plan that is being prepared, Rafizi said, the Ministry of Economy is not only holding engagement sessions with state governments but also ensuring that it includes input from key strategic industries.

The sessions focus on the electronics, aerospace and automotive industries, and the process will continue to align government and industry planning. “The main goal is to transition our industries from assembly-based to innovation and creation-based industries,” Rafizi said.

KUALA LUMPUR: Bursa Malaysia Bhd is experiencing a resurgence in IPOs as 2024 draws to a close, reflecting renewed investor confidence in the local bourse.

With 44 initial public offerings to date, Bursa Malaysia has outpaced other markets in Southeast Asia, emerging as an attractive IPO destination amid a stable economic and political landscape.

According to Mohd Sedek Jantan, UOB Kay Hian Wealth Advisors’ head of investment research, several factors have contributed to this surge. “The risk of doing business in the fourth quarter has subsided as major economic and political uncertainties have passed, such as the US presidential election while Malaysia’s active role in international forums has bolstered the country’s global standing,” he told Bernama.

He reckons that Malaysia’s stable economic indicators, including positive trade figures, healthy employment rates and steady industrial production have fostered a predictable business environment that encourages IPO activity. “Political stability and a clear government policy framework further enhance investor confidence,” he said.

The surge in IPOs on Bursa Malaysia underscores the local bourse’s resilience compared to other regional markets.

Mohd Sedek noted that Malaysia has recorded 36 IPOs so far this year, raising about US$450 million in the first half alone, which accounts for 33% of Southeast Asia’s total IPO proceeds.

“This stands in contrast to a subdued IPO market across the Asia-Pacific, where proceeds have dropped by 63%, largely due to challenges in China and Hong Kong.

“Malaysia has outperformed both Indonesia and Singapore in IPO activity this year,” he pointed out, highlighting that Indonesia faces political uncertainty following its recent presidential election, while Singapore has seen a slowdown in activity due to high regulatory costs and weak investor demand.

In contrast, he said Malaysia’s IPO market benefits from a stable macroeconomic backdrop, business-friendly regulations, and the supportive Madani Economy Framework.

Mohd Sedek said the growth in IPOs reflects optimism in key Malaysian sectors, with recent listings from the construction, manufacturing, and healthcare industries.

He said in the construction sector, which expanded by 22.9% in the third quarter, private and public investments in residential, non-residential, and large-scale infrastructure projects are expected to drive further growth. “Key government initiatives, such as RM9 billion for private finance initiatives and RM25.5 billion from government-linked investment companies are expected to sustain this momentum,” he added.

In the manufacturing sector, Malaysia’s transformation under the New Industrial Master Plan 2030 aims to drive growth in high-value, technology-driven industries. “The government’s focus on digitalisation, green technology, and advanced manufacturing techniques is expected to attract further investments, solidifying Malaysia’s position as a competitive manufacturing hub in Asean,” he said.

Malaysia’s healthcare sector is also expanding due to demographic shifts and rising health awareness. The integration of technology, such as telemedicine and digital health solutions, is anticipated to boost the sector’s growth by improving care accessibility and efficiency. “This trend, coupled with government support for medical tourism, positions Malaysia as a key player in the healthcare industry in the region,” Mohd Sedek said.

Bursa Malaysia CEO Datuk Muhamad Umar Swift expressed satisfaction with the IPO momentum, noting that three Main Market IPOs were listed this week alone.

“This surge reflects a thriving capital market with strong regulatory support and a diverse investor pool. Malaysia has experienced a bull run, making us the Asean exchange with the highest number of IPOs to date this year,” he said.

Echoing this sentiment, the exchange regulator’s chairman Tan Sri Abdul Wahid Omar highlighted the significance of Monday’s listings, which took place on the auspicious date of 11.11. (Nov 11)

“Both companies chose that date for its auspicious nature, marking a rare occasion of two listings on the same day. The last time Bursa hosted two listings on a single day was in November 2017, following the demerger of Sime Darby Group, which saw both Sime Darby Plantation Bhd and Sime Darby Property Bhd debut together,” he said.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid noted that the strong IPO pipeline signals positive prospects for the Malaysian economy, as stable policies and a clear path towards becoming a high-income nation attract investor interest.

“Malaysia’s equities are undervalued, offering upside potential. The economic and policy stability enhances investor confidence, while companies’ growth trajectories inspire optimism for the market’s future,” he said.

Mohd Afzanizam said that as Bursa Malaysia continues to attract IPOs, he expects the exchange’s momentum to inspire small and medium enterprises to pursue similar growth opportunities. “The record-setting IPO activity underscores Malaysia’s resilience and strong capital market position in Asean, providing a positive outlook for 2025,” he added. – Bernama

KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim’s official visit to Egypt has bolstered Malaysia-Egypt bilateral relations, unlocking RM4.8 billion (US$1.1 billion) in potential export opportunities for Malaysia, according to the Ministry of Investment, Trade and Industry (MITI).

MITI stated that this export potential was largely generated through a roundtable meeting attended by 60 industry and business leaders from 47 Egyptian firms and key business associations, as well as 40 representatives from 20 Malaysian companies.

“During the session, productive discussions between Malaysian and Egyptian companies identified export potential worth RM4.8 billion (US$1.1 billion), particularly in high-value sectors such as automotive, chemicals, oleochemicals and renewable energy,” MITI said in a statement.

Egyptian companies also expressed interest in investment opportunities in Malaysia, particularly in medical devices and pharmaceuticals, MITI added.

The official visit took place from Nov 10-12, 2024.

In a bilateral meeting during the visit, MITI Minister Tengku Datuk Seri Zafrul Abdul Aziz and Egypt’s Minister of Investment and International Trade Hassan El Khatib agreed to reactivate the Malaysia-Egypt Joint Trade and Investment Committee (JTIC).

Malaysia will host the second JTIC Meeting in early 2025, focusing on collaboration in the semiconductor sector, renewable energy, the halal industry and digital transformation.

The two ministers further agreed that Malaysia’s Investment Development Board (MIDA) and Egypt’s General Authority for Investment and Free Zones (GAFI) should sign a memorandum of understanding to enhance bilateral investment relations.

To support Malaysian exporters’ access to North African and Arab markets, MITI noted that Malaysia’s trade office in Cairo, managed by the Malaysia External Trade Development Corporation (MATRADE), was upgraded in January 2024, offering improved market access and export support services.

Meanwhile, national carmaker Proton has expanded into the Egyptian market with a local assembly plant.

Assembly activities began with the first delivery of Proton’s completely knocked down (CKD) vehicles in September 2024, and sales are expected to start in January 2025, with a target of 16,000 units for the period 2024–2026, MITI reported.

Bilateral trade between Malaysia and Egypt from January to September 2024 rose 21.4% year-on-year to RM3.0 billion (US$648 million), compared to RM2.4 billion (US$545.5 million) in the same period last year.

Egypt was Malaysia’s fifth-largest trading partner in Africa in 2023.

Tengku Zafrul said MITI is confident this bilateral relationship will continue to grow, positively impacting the economy and supporting the objectives of the New Malaysian Industrial Master Plan (NIMP) by 2030.

“MITI and its agencies will take prompt follow-up action to ensure that all agreed initiatives are implemented efficiently,” he added.

KUALA LUMPUR: Malaysia’s cross-border renewable energy auction for Singapore’s energy importer, under Energy Exchange Malaysia (ENEGEM), will begin by year-end, Deputy Prime Minister Datuk Seri Fadillah Yusof said.

He explained that, through efforts to integrate regional power grids, the country aims to strengthen energy security across ASEAN member states.

“Further to the regional integrated grid, it can also serve as an economic catalyst in fostering regional cooperation through cross-border renewable energy trade.

“By sharing excess energy, the country can reduce reliance on fossil fuels while building an integrated ASEAN energy infrastructure,” he said in his opening address at the 2nd Sustainability Environment Asia (SEA) 2024.

Fadillah, who is also the Energy Transition and Water Transformation (PETRA) Minister, confirmed that coal-fired generation will be gradually phased out, with no new coal power plants to be established.

He cited the International Energy Agency’s clear stance that reducing coal dependency is crucial to limiting global warming and stressed Malaysia’s commitment to this objective.

“We will continue to enhance grid flexibility by investing in and developing smart grids, digitising the power system, and expanding energy storage systems.

“By 2035, we aim to increase grid flexibility by 20%, enabling greater integration of renewable energy sources,” he added.

Under the National Energy Transition Roadmap, the government aims to raise renewable energy’s contribution to Malaysia’s installed power capacity to 70% by 2050, up from the current 28%.

Meanwhile, he outlined plans to restructure Malaysia’s water services over the next decade in collaboration with the National Water Services Commission (SPAN) and the Malaysian Water Association.

“As of 2023, 97.1% of urban and rural areas had access to water supply, while sewerage services covered 86.9% of major cities.

“Malaysia aims for 98% rural clean water coverage and a 31% non-revenue water rate by 2025 through Integrated Water Resource Management (IWRM),” he said.

Malaysia remains committed to fostering a healthy environment, driving economic prosperity, and improving the quality of life for its people and future generations.

As the country strives toward its net zero carbon goal by 2050, it is vital to capitalise on every opportunity to navigate a sustainable transformation and embrace a circular economy.

“I invite businesses to partner with the government and explore all options for collaboration,” he added.

Volkswagen Group is seeking significant cost reductions as it faces declining demand, rising expenses, and mounting competition. The automaker has proposed a 10 per cent wage reduction for its union employees after IG Metall, the union representing Volkswagen’s workforce, requested a seven per cent raise. This wage cut comes as part of broader measures Volkswagen is considering to address financial difficulties, which include restructuring bonuses and possibly eliminating anniversary and monthly bonuses.

Despite these proposed changes, Volkswagen’s CEO Thomas Schafer has not ruled out more drastic options, such as plant closures, if cost-cutting goals are not met through negotiations. “Successful operations are a prerequisite for job security,” said Arne Meiswinkel, VW’s lead negotiator, highlighting the necessity for lower labour costs to stabilise the company.

Volkswagen reported a steep 42 per cent drop in third-quarter operating profits, and its core brand posted only a two per cent operating margin through September. According to CFO and COO Arno Antlitz, this underscores the need for “significant cost reductions and efficiency gains” to sustain the company’s operations.

Rumours of potential plant closures in Germany have circulated as the company confronts inefficiencies across several domestic sites. Schafer remarked that the issues cannot be resolved by “simple cost-cutting measures,” indicating deeper structural challenges within the automaker’s German manufacturing operations.

Volkswagen and IG Metall will resume negotiations on November 21.

Hyundai Rotem, a subsidiary of South Korea’s Hyundai Group, has announced a pioneering development for the Republic of Korea (ROK) Army: a hydrogen-powered K3 main battle tank. Set to be among the most advanced military vehicles in the world, the K3 aims to redefine future warfare by leveraging eco-friendly fuel cells, autonomous technologies, and advanced firepower.

Hyundai Rotem’s K3 project is a collaborative effort with South Korea’s Agency for Defence Development and other national research institutions, with production tentatively scheduled to begin by 2040. The shift to hydrogen marks a historic step in South Korea’s commitment to reduce reliance on traditional combustion engines in defence equipment. The K3’s hydrogen fuel cell will eventually replace the diesel engines of the ROK’s K-series tanks, beginning with hybrid prototypes that combine hydrogen and diesel power.

In an online statement, Hyundai Rotem described the K3 as “a next-generation main battle tank that surpasses all capabilities of today’s MBTs (main battle tanks), optimised for evolving battlefield demands.” Key enhancements to the K3 include autonomous driving, AI-based fire control, and a 130-mm smoothbore main gun for increased preemptive strike capabilities. Additionally, the tank will feature improved stealth capabilities, a reduced heat signature, and the deployment of slave drones to enhance reconnaissance and support combat operations.

Fuel cell technology offers multiple advantages, including quieter operation, faster acceleration, superior fuel efficiency, and reduced maintenance due to fewer moving parts. With minimal heat output and sound, the tank achieves heightened stealth, making it less detectable in combat scenarios. Mobility is also improved, allowing the K3 to maneuver through steep and rugged terrains more effectively.

Designed to operate with a streamlined crew of three—a driver, commander, and gunner—the crew will be secured within a reinforced armoured capsule at the front of the tank. This layout ensures enhanced protection and operational efficiency.

The hydrogen-powered K3 demonstrates South Korea’s commitment to integrating sustainable, high-performance technologies into its military arsenal, setting a benchmark for modern warfare with cleaner and more capable military assets.

GOODYEAR is proud to be the official tyre sponsor of the Tokyo Auto Salon Kuala Lumpur 2024, happening from 8 – 10 November 2024 at MITEC, Kuala Lumpur. Known as the world’s premier customised car show, this event promises to showcase the latest in automotive technology, design, and more, drawing car enthusiasts from across the region.

Event Details

Date: 8 – 10 November 2024

Time: 10:00 am – 10:00 pm

Venue: MITEC, Kuala Lumpur

At the Goodyear booth, attendees can explore the latest in high-performance tyre technology and see how Goodyear is driving innovation in tyre performance and quality. This event offers automotive fans the perfect chance to engage with Goodyear and witness the exceptional standards that Goodyear tyres bring to every journey.

Don’t miss this exciting opportunity to connect with industry leaders and fellow car enthusiasts!

Higher system-wide sales and contributions of recently acquired South Korean value coffee brand boosted earnings of Asian food conglomerate Jollibee Foods Corp. by nearly a quarter in the nine months ending September.

City of Dreams Manila, part of the Melco Resorts and Entertainment Group, has taken the initiative to promote and observe responsible gaming practices in the Philippines.

The Keepers Holdings Inc. of tycoon Lucio Co is gobbling up a local beer importer, further boosting the company’s extensive portfolio.

The Department of Trade and Industry probe into the rising influx of imported cement is seen as essential for strengthening the struggling local cement industry that has faced increasing competition from imports.

“Spoofing” is when someone disguises an email address, sender name, phone number or website URL, or uniform resource locator.

Actress Lovi Poe launched her debut makeup collection under local cosmetics line Ready Set Glow.

Australian NBA star Ben Simmons’ expiring salary was floated by veteran sports journalist Bill Simmons of The Ringer as one of the trade chips for the Brooklyn Nets in the potential Giannis Antetokounmpo sweepstakes.

This posting is for those of you who receive articles from this blog by email, and I am sure that many of you within the EU will have received similar notices from other organisations. On the 25th May the General Data Protection Regulation comes into force and as part of that we need to know … Continue reading Receiving blog postings by email – GDPR →

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Frustrating Xbox owners around the globe, reports are flooding in across the web that Xbox Live is currently down. Whether you're looking to jump into a game, stream your favorite shows, or navigate the dashboard, users are finding themselves locked out of any functionality. Users from Reddit to Twitter to my own living rooms are reporting that accessing any service is impossible. This includes playing games, accessing cloud saves, using apps, or even browsing the Xbox Store. The crux of the problem seems to be tied to the Xbox Live login. X...

Vehicle prices are continuing on the downward trajectory, which is something that money expert Clark Howard has been saying would happen. “The used vehicle prices are on a steady downturn, and the new vehicles are on a downturn as well but not as steep because they don’t have as far to fall as the used […]

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Vehicle prices have been causing sticker shock for the past couple of years, but money expert Clark Howard says used cars have normalized recently. A recent report from vehicle research site iSeeCars indicates that shoppers are still throwing their dollars toward older used cars as the price of new cars remains stubbornly expensive. Here are […]

The post New Report: The Average Price of a Used Car appeared first on Clark Howard.

It’s no secret that electric vehicles (EVs) are starting to grow on the American public. A study from vehicle research site iSeeCars.com measures the number of EV chargers in the top U.S. cities and their rate of installation as a barometer of how EV-friendly the places are. Which Cities Are the Most Electric Vehicle-Friendly? While […]

The post Report: Top Cities for Electric Cars appeared first on Clark Howard.

The average price for a new vehicle rose over the past month, but the increase was only negligible, according to the latest sales figures from car valuation site Kelley Blue Book (KBB). How Much Does a New Car Cost Right Now? The average price for a new vehicle was $48,397 in September 2024 — 0.4% […]

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If you’re traveling to a faraway place for a long time, there’s a good chance that a car rental would be money well spent for you. A recent survey from CheapCarRental.net indicates that rental rates have dropped just 0.5% compared to a year ago but by about 28% compared to earlier this summer. That means […]

The post Report: 10 Most Expensive U.S. Cities for Car Rentals appeared first on Clark Howard.

If you’ve traveled enough, you’ve experienced a horror story with lost or misplaced luggage. Money expert Clark Howard says that airlines often struggle to get baggage from Point A to Point B. Airlines have gone through a roller coaster of sorts. The onset of COVID-19 sank travel demand in 2020 and 2021. When restrictions were […]

The post Should I Buy an AirTag for My Checked Airport Luggage? appeared first on Clark Howard.