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KUALA LUMPUR: The soon-to-be Singapore Prime Minister, Lawrence Wong plans to enhance relations between Malaysia and Singapore, as revealed by the Malaysian Minister of Investment, Trade and Industry, Tengku Datuk Seri Zafrul Abdul Aziz. In a post on X, Tengku Zafrul said that trade between the two countries has indeed been strong. “However, the world now has to face two main megatrends, namely deglobalisation and also the need to achieve zero carbon emission target to improve the world’s socio-economic situation,” he said. According to Tengku Zafrul, Malaysia and Singapore have the synergy to develop the required leadership needed for the ASEAN region in both matters, especially during Malaysia’s ASEAN chairmanship next year. Meanwhile, Wong believes that a key challenge for him will be elevating economic ties to benefit all of the 10-member ASEAN bloc. He said that strengthening these ties is crucial for maximising mutual potential and creating wealth for citizens amidst a hostile global environment that favours competitive economies. However, by collaborating with Malaysia’s Prime Minister Datuk Seri Anwar Ibrahim, Singapore could attract global tech firms to relocate due to the US-China trade and chip war. In doing so, the Malaysia-Singapore nucleus can be a magnet for attracting foreign direct investments into the Asean region, based on its combined populace of almost 700 million and being the third most populated region. Rated 6th in the world for semiconductor exports, with RM575 billion in sales in 2023, Malaysia reportedly has 7% of the global market share. For over a decade, Malaysia and Singapore have been each other’s 2nd largest global trading partners and the largest among Asean countries, as the two economies are ‘almost dependent on each other’. In 2023, total trade between the two countries was valued at RM363.13 billion. Singapore has high labour costs, skills shortages and lack of manpower, despite having healthy public finances with huge reserves, offering it the springboard to chalk up high economic growth. Due to this, many of Malaysia’ exports go through Singapore and a significant number of Malaysians work in Singapore while there are many companies from both countries that do business in each other’s markets. Recent statistics show that more than 1.18 million Malaysians are working in Singapore, while overall 1.8 million Malaysians are working in the region. The two countries will celebrate 60 years of bilateral relations next year. The 52-year-old Wong, who is the Singaporean Deputy Prime Minister and Minister of Finance, will succeed 72-year-old Lee Hsien Loong, who served Singapore’s government for nearly 20 years since 12 August 2004. Wong’s swearing-in ceremony will take place at 8pm at the Istana, the official residence and office of the Singapore president. — BERNAMA

KUALA LUMPUR: Think City, Malaysia’s premier urban development consultancy, in partnership with the Football Association of Selangor (FAS) and PadangBolaSepak.com (PBS), proudly launched the Kita-Untuk-Kita (K2K) Juara initiative today. Dr. Shahridan Faiez, Director of K2K at Think City, officiated the launch of this groundbreaking program. The K2K Juara initiative will host a series of grassroots sports programs across 10 People Housing Projects (PPR) in the Klang Valley throughout 2024. The initiative aims to harness the power of sports to drive positive change within these communities. By offering a variety of sports activities, K2K Juara seeks to foster personal and professional growth, skill development, and a stronger sense of community belonging. Representatives from the 10 participating PPRs were also present at the launch. This comprehensive program includes a range of opportunities designed for holistic development and community engagement. Key components include Futsal Clinics led by licensed FAS coaches and life-skill workshops covering CPR and basic first aid. Participants will also benefit from career-oriented initiatives such as Career Sports Workshops, which inspire youth to explore diverse roles within the sports industry through interactive sessions with professionals and career exploration activities. Additionally, coaching workshops will be offered, enabling participants to pursue coaching licenses accredited by the Football Association of Malaysia. These workshops provide a structured pathway for aspiring coaches to develop their skills under the guidance of experienced mentors, empowering them to contribute to the growth of future athletes. Moreover, participants will enjoy immersive experiences through field trips to the FAS Training Facility, offering behind-the-scenes access and interactions with sports experts. Monthly Town Hall Meetings will serve as a vital platform for community members to evaluate progress, address challenges, and foster collaboration, thereby nurturing stronger community bonds and collective growth. Together, these elements create a dynamic environment that promotes not only sporting skills but also personal development and community cohesion. During the launch, FAS Representative Amir Yazid emphasized the organization’s commitment to grassroots development. “FAS is delighted to partner with Think City and our longtime collaborator, PBS, on this impactful initiative. K2K Juara aligns perfectly with our vision of fostering a lifelong love for sports at all levels. We are confident that this program will not only promote physical well-being but also cultivate valuable life skills and a sense of camaraderie within the participating communities.” Founder of PadangBolaSepak.com and K2K Juara’s Program Director, Khalilul Rahman, highlighted the importance of community engagement in urban development. “At K2K Juara, we believe that vibrant communities are the cornerstone of successful cities. This initiative exemplifies our commitment to placemaking and social resilience. By working with FAS and the residents, we can empower these communities through the unifying power of sports.” The K2K Juara initiative underscores the commitment of the three stakeholders to collaborate with government agencies, NGOs, and local communities to create a more equitable and sustainable future for Malaysia. The program is expected to benefit hundreds of residents across the Klang Valley, fostering a more vibrant and inclusive urban landscape.

KUCHING: Petroliam Sarawak Bhd (Petros) will commence assuming Petroliam Nasional Bhd’s (Petronas) role in all natural gas trading activities in Sarawak, effective July 1, said State Utility and Telecommunication Minister Datuk Seri Julaihi Narawi. The minister said that the transition period for Petros to take over will be until January 2025. “Petros will take over the role of Petronas as the purchaser and seller of natural gas and, subsequently, conduct related activities related to the procurement, supply and distribution of natural gas produced in Sarawak,” he said when winding up the debate for his ministry at the State Assembly sitting here today. Julaihi added that Petros and Petronas also agreed to sign a definitive agreement where Petronas will acknowledge Petros as the sole gas aggregator under the Distribution of Gas (Amendment) Ordinance 2023. “Therefore, beginning July 1, Petros will serve as the state’s sole gas aggregator responsible for purchasing all natural gas produced in Sarawak from upstream gas producers and subsequently selling it to downstream gas buyers, including liquefied natural gas (LNG) plants. “This will allow for a continuous supply of LNG for processing plants to fulfil their contracts with overseas buyers such as those in Japan and Korea,” he said. Julaihi said that Petros will also continue its efforts to increase the use of natural gas in line with the Sarawak Gas Roadmap (SGR). “Through the SGR initiative, natural gas usage in Sarawak can potentially increase to 30 per cent or more by 2030, up from the current six per cent. “The SGR is expected to attract investments into Sarawak, fostering high-value economic activities and creating more opportunities for higher-income jobs,” he added. — BERNAMA

BAHGDAD: Chinese firms secured contracts to explore five Iraqi oil and gas fields during a licensing round focused on boosting domestic gas production. Additionally, an Iraqi Kurdish company clinched two projects out of the 29 available, spanning central, southern, and western Iraq. Notably, this round marked the first inclusion of an offshore exploration block in the Arab Gulf waters. Iraq is actively seeking billions of US dollars in investments to bolster its oil and gas sector, aiming to enhance local petrochemicals production and reduce reliance on gas imports from neighboring Iran, crucial for power generation. Over 20 companies, including European, Chinese, Arab, and Iraqi groups, pre-qualified for the licensing round, with no participation from major US oil firms, despite recent engagements between Iraqi Prime Minister Mohammed Shia and US representatives. Among the winning bids, Chinese companies secured five projects, including Zhongman Petroleum and Natural Gas Group’s acquisition of the northern extension of the Eastern Baghdad field and the Middle Euphrates field, as confirmed by the oil ministry. China’s United Energy Group Ltd, ZhenHua, and Geo-Jade also won bids for developing the Al-Faw, Qurnain, and Zurbatiya fields, respectively. Iraq’s KAR Group secured rights to the Dimah field in eastern Maysan province, and the Sasan and Alan fields in northwestern Nineveh province. Additionally, approximately 20 more projects remained open for bidding over the following days. Falah Al-amri, the Iraqi prime minister’s adviser for oil and gas issues, expressed optimism that these new projects would increase oil production to six million barrels per day by 2030 from the current five million. He emphasized the government’s ambition for these projects to not only boost natural gas production but also nearly eliminate gas flaring by 2030, facilitating the end of gas imports and achieving self-sufficiency. Although Iraq once aspired to rival Saudi Arabia as OPEC’s second-largest oil producer, challenges such as unfavorable contract terms, conflict, and political paralysis have hindered its oil sector development. Moreover, the growing investor focus on environmental, social, and governance criteria has influenced investment decisions, with Western oil giants like Exxon Mobil Corp and Royal Dutch Shell Plc withdrawing from several projects, while Chinese companies continue to expand their presence in the country. — REUTERS