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KUALA LUMPUR: Senior ASEAN economic officials convened on Saturday to evaluate the progress of the ASEAN Economic Community (AEC) Blueprint 2025 and to deliberate on the next strategic roadmap that will shape regional economic integration through 2030. Held ahead of the 25th ASEAN Economic Community Council (AECC) Meeting, the Preparatory Senior Economic Officials’ Meeting (Prep-SEOM) centred on reviewing key outcomes of the current blueprint and aligning them with the ASEAN Community Vision 2045. New Strategic Plan in the Works The officials discussed the AEC Strategic Plan 2026–2030, a crucial component of ASEAN’s post-2025 vision. The document is expected to be launched and adopted by ASEAN leaders during the 46th ASEAN Summit, taking place on May 26 and 27 at the Kuala Lumpur Convention Centre. Malaysia’s Ministry of Investment, Trade and Industry (MITI) Deputy Secretary-General (Trade), Mastura Ahmad Mustafa, chaired the session. Other notable attendees included ASEAN Deputy Secretary-General for the AEC, Satvinder Singh, and senior economic representatives from all ASEAN member states, including Timor-Leste and Myanmar (the latter joining virtually). Responding to Global Shifts The meeting also examined the region’s current economic performance in light of global economic uncertainties. Participants discussed the implications of policy shifts among major global economies and formulated strategic responses to safeguard ASEAN’s economic resilience. “There is a shared understanding that ASEAN must remain agile and cohesive in responding to external shocks while unlocking new growth opportunities,” noted one official. The Prep-SEOM sets the stage for key decisions at Monday’s 25th AECC Meeting, where ministers are expected to endorse several reports and outcome documents, providing guidance on the way forward for ASEAN’s economic pillar. ASEAN Summit and Strategic Engagements This year’s ASEAN Summit will feature two concurrent high-level engagements: The 2nd ASEAN–Gulf Cooperation Council (GCC) Summit The inaugural ASEAN–GCC–China Summit Both are expected to broaden ASEAN’s external economic partnerships and reaffirm its role as a central player in regional and global economic affairs. Malaysia’s ASEAN Chairmanship 2025 carries the theme “Inclusivity and Sustainability,” reflecting a broader commitment to equitable and future-focused growth across all member states.–BERNAMA

KUALA LUMPUR: The inaugural ASEAN Women Economic Summit 2025 (AWES 2025) kicked off today with a firm commitment to place women at the heart of Southeast Asia’s inclusive economic growth and regional integration agenda. The two-day summit, hosted under Malaysia’s ASEAN chairmanship, aims to spotlight the vital contributions of women across all sectors and strengthen their role in shaping a resilient, connected, and prosperous ASEAN. A Platform for Collective Action Datuk Dr Hafsah Hashim, founder and chairman of the Women Leadership Foundation, emphasised that ASEAN governments are actively investing in rural development, education, and healthcare—key areas for unlocking the full potential of women in the region. “We have leaders who are passionate and persistent in pushing for women’s contributions to the economy. This enables us to strive for a more energised and prosperous ASEAN,” she said at the AWES 2025 press conference. She described the summit as a dynamic platform for regional collaboration, leadership development, and cross-border growth opportunities for women entrepreneurs, professionals, and policymakers. Malaysia’s Commitment to Gender-Inclusive Growth Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz highlighted that AWES 2025 aligns with Malaysia’s chairmanship theme of Inclusivity and Sustainability. He said the initiative dovetails with the ministry’s ongoing efforts to empower women, youth, and MSMEs. “With support from all parties, our ministry and the government will ensure AWES continues to receive strong backing year after year,” he said. “We want to uplift women through targeted programmes and open access to new market opportunities via upselling initiatives.” Elevating Leadership, Inspiring Change Themed Empowering Women, Energising ASEAN: Pioneering Economic Integration for a Resilient Tomorrow, the summit features high-level sessions including strategic dialogues, leadership labs, mentorship forums, and a gala dinner. Over 700 delegates from across ASEAN’s public, private and civil sectors are in attendance. The summit aims to position women at the forefront of ASEAN’s transformation, especially amid global trade tensions, digital acceleration, and sustainability challenges. Private Sector Support UOB Malaysia CEO Ng Wei Wei stressed that inclusive leadership is crucial to sustainable growth. “As ASEAN grows in complexity and opportunity, inclusive leadership isn’t just the right thing to do—it’s essential for long-term prosperity,” she said. “UOB is proud to support AWES 2025 as a strong advocate of inclusive growth across the region.” UOB Malaysia is the summit’s main sponsor, while Kuok Brothers Sdn Bhd is the official empowerment partner. — BERNAMA

KUALA LUMPUR: Malaysia’s solar-panel industry could forfeit as much as four per cent of its export value if Washington enforces new anti-dumping and countervailing duties on photovoltaic (PV) products from four Southeast Asian nations, including Malaysia, according to market observers. The warning follows a preliminary ruling by the US International Trade Commission (US-ITC) that cheap imports from Malaysia, Thailand, Cambodia and Vietnam have “materially injured” US manufacturers. A final “yes” vote would trigger duties once the US Commerce Department formalises the orders. Potential Billions at Risk Global PV trade topped US $40 billion in 2021. Based on that benchmark, UOB Kay Hian Wealth Advisor head of investment research Mohd Sedek Jantan estimates Malaysia could absorb a revenue hit running into the “billions” if US demand retreats by roughly 30 % under higher tariffs. “The solar industry is a cornerstone of Malaysia’s energy sector, which itself contributes nearly 20 % to GDP,” Mohd Sedek told Bernama. “Over-reliance on a single major market that favours protectionist policies exposes manufacturers to outsized risk.” Geoeconomic Hedge Strategy To cushion the blow, Mohd Sedek advocates a “Geoeconomic Hedge Strategy” that redirects export growth toward Europe, India and Latin America, reducing dependence on the US market and diversifying supply-chain risk. Industry View: Local Value-Chain Needed Lee Choo Boo, managing director of Itramas Corporation Sdn Bhd, said any tariff-induced sales slump in the US could be tempered by ongoing renewable-energy projects at home—but warned of currency headwinds. “If recessionary fears prompt Bank Negara Malaysia to cut rates, the ringgit may weaken against the US dollar. That would raise the local cost of PV technology components we import in US dollars,” Lee explained. He argued Malaysia must accelerate efforts to “move up the value chain,” develop a domestic component ecosystem and reduce reliance on imported technology. “As an industry, we can’t just build power plants with foreign parts; we need a resilient local supply chain,” he stressed. The US-ITC’s final determination and the Commerce Department’s tariff orders are expected later this year. Industry players and policymakers alike will be watching closely to gauge the impact on Malaysia’s fast-growing solar-export sector. — BERNAMA

KUALA LUMPUR: The 25th ASEAN Economic Community Council (AECC) meeting convened today with 11 key agendas under discussion, as economic ministers from across the region gathered on the sidelines of the 46th ASEAN Summit to explore deeper cooperation and regional integration. Malaysian Minister of Investment, Trade and Industry, Datuk Seri Tengku Zafrul Abdul Aziz, who chaired the meeting, stressed the need for ASEAN member states to prioritise unity and shared progress in light of ongoing global uncertainties. “The current economic environment calls for collaboration and commitment to advancing common interests among ASEAN members,” said Tengku Zafrul in his opening remarks. He also highlighted the importance of strengthening intra-ASEAN trade to reduce dependence on external partners, underscoring the need to build regional resilience amid evolving global trade dynamics. Touching on recent developments in US economic policy, the minister commended ASEAN’s measured response. “Instead of retaliation, we have chosen dialogue and cooperation. ASEAN member states have shown a clear commitment not to impose retaliatory measures, emphasising that open communication is key to a balanced and sustainable relationship,” he said. He added that this prudent stance has helped prevent unnecessary escalation, preserving a strong foundation for ASEAN’s engagement not only with the US but also other major global economies. The AECC meeting was attended by senior officials and ministers, including Deputy Minister of Investment, Trade and Industry Liew Chin Tong; Brunei’s Minister of Finance and Economy II Datuk Awang Mohd Amin Liew Abdullah; Cambodia’s Minister of Commerce Cham Nimul; Vietnam’s Minister of Industry and Trade Nguyen Hong Dien; Indonesia’s Trade Minister Budi Santoso; and Laos’ Minister of Industry and Commerce Malaithong Kommasith. Other representatives included Undersecretary Allan B. Gepty of the Philippines’ Department of Trade and Industry; Singapore’s Deputy Prime Minister Gan Kim Yong; Thailand’s Minister of Commerce Pichai Naripthaphan; and Timor-Leste’s Deputy Prime Minister Francisco Kalbuadi Lay. The 46th ASEAN Summit, hosted at the Kuala Lumpur Convention Centre (KLCC), is being held under Malaysia’s 2025 Chairmanship theme, “Inclusivity and Sustainability.” This marks Malaysia’s fifth time chairing ASEAN, following its previous terms in 1977, 1997, 2005, and 2015. The Summit is set to address a range of pressing regional and global issues, with the crisis in Myanmar expected to remain a focal point of concern. In addition to ASEAN-level meetings, the Summit will feature two key inter-regional engagements—the 2nd ASEAN-Gulf Cooperation Council (GCC) Summit and the ASEAN-GCC-China Summit—highlighting ASEAN’s growing ties with strategic partners in the Gulf and China. — BERNAMA

LANGKAWI: The Malaysia Industry-Government Group for High Technology (MIGHT) is stepping into a more strategic role to strengthen public-private partnerships (PPP) and accelerate local innovation, in line with national aspirations for a high-tech future. President and chief executive officer Ts Rushdi Abdul Rahim said MIGHT’s involvement in the Langkawi International Maritime and Aerospace (LIMA) 2025 Exhibition reflects its commitment to fostering synergy between industry players, government agencies, and international partners. “At LIMA 2025, MIGHT is spotlighting high-growth sectors such as advanced air mobility (AAM), aerospace and space technology, as well as shipbuilding and ship repair (SBSR),” said Rushdi. MIGHT continues to provide technical input to ministries and agencies, while facilitating collaboration between local and global industry players through a cross-sector and cross-agency approach. The agency has helped shape Malaysia’s high-tech ecosystem by contributing to the National Technology Policy, developing aerospace industry frameworks, forming local technology consortia, and spearheading flagship programmes with strategic partners. Notable international collaborations include MIGHT-Türkiye, MIGHT-Indonesia, and joint innovation platforms with Qatar and Japan. In conjunction with LIMA 2025, MIGHT and its strategic partners launched four major industry reports, officiated by the Minister of Science, Technology and Innovation (MOSTI), Chang Lih Kang. The agency also celebrated the launch of UzmaSAT-1, Malaysia’s first earth observation satellite owned by Uzma Bhd, a MIGHT member. The milestone represents the country’s engineering capabilities and marks a step forward in the strategic development of the National Remote Sensing Satellite Programme (PSPJN). Innovation efforts were further elevated with the unveiling of the Uzma Digital Earth platform, an artificial intelligence (AI)-powered geospatial system that integrates satellite data for advanced visualisation and analytics. Rushdi noted that MIGHT also offers technical advice, market development strategies, and capacity-building initiatives to support the global expansion of local companies. However, he acknowledged several challenges facing Malaysia’s innovation sector, including the need for better coordination among stakeholders, limited access to highly skilled local talent, urgency in accelerating technology transfer, and building investor confidence. “I call on all stakeholders to make technology a central pillar of national development. LIMA is not just an international showcase but a convergence point for great minds to share knowledge, strengthen networks, and generate bold new ideas. “Malaysia has tremendous potential in high technology. MIGHT will continue to play a pivotal role as a driver, facilitator and catalyst of the national tech ecosystem, helping position Malaysia as an inventive, competitive and forward-looking nation on the global stage,” he added. — BERNAMA

KUALA LUMPUR: FGV Holdings Bhd has announced plans to acquire full ownership of eight subsidiaries, with a total purchase value of RM229.75 million, from Koperasi Permodalan Felda Malaysia Bhd (KPF). The acquisitions will be executed through share purchases by FGV’s units, FGV Palm Industries Sdn Bhd (FGVPI) and Felda Holdings Bhd (FHB). Both companies have signed conditional share sale agreements to purchase the remaining stakes in subsidiaries that are currently jointly owned with KPF. Under the agreements: FGVPI will acquire the remaining stakes in three companies: FGV Kernel Products Sdn Bhd (16.67%), FGV Reneries Sdn Bhd (33.33%), FGV Marketing Services Sdn Bhd (49%), for RM54.70 million. FHB will acquire the remaining interests in five companies: FGV Agri Services Sdn Bhd (23.08%), FGV Transport Services Sdn Bhd (49%), FGV Security Services Sdn Bhd (49%), FGV Prodata Systems Sdn Bhd (20%), FGV Rubber Industries Sdn Bhd (28.57%), for RM175.05 million. The acquisitions will be funded through a combination of RM140 million in new borrowings and RM89.7 million from internal funds. FGV noted that this move will allow the group to streamline its operations, enabling more efficient decision-making and aligning with the company’s strategic direction. The acquisitions are expected to be completed by the third quarter of 2025, pending shareholder and regulatory approvals. Maybank Investment Bank is serving as the principal adviser, while QuantePhi Sdn Bhd has been appointed as the independent adviser to assess the fairness of the deal to minority shareholders. — BERNAMA

KUALA LUMPUR: Government-linked private equity firm Ekuiti Nasional Bhd (Ekuinas) has named Aliff Omar Mohamad Omar as its new Chief Executive Officer, effective today. Ekuinas announced the appointment in a statement, highlighting Aliff’s extensive 16-year track record in corporate advisory and deal-making across Southeast Asia. His professional background includes senior roles at leading investment banks—UBS AG, CIMB Investment Bank, and Maybank Investment Bank—where he advised on landmark mergers, acquisitions, and capital market transactions. A graduate of Northwestern University and the University of Cambridge, Aliff is recognised for his strategic foresight and financial expertise, along with a strong commitment to Ekuinas’ dual mandate of delivering sustainable returns while driving inclusive economic growth. Ekuinas Chairman Tan Sri Shahril Ridza Ridzuan expressed confidence in the appointment, stating: “The board is confident that Aliff’s leadership will strengthen Ekuinas’ position in Malaysia’s private capital ecosystem and steer the organisation into its next phase of strategic impact.” Commenting on his new role, Aliff said: “Ekuinas will continue to invest with discipline, operate with integrity, and deliver outcomes that go beyond financial returns—empowering businesses, uplifting communities, and unlocking opportunities for the next generation of Malaysian champions.”–BERNAMA