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PETALING JAYA: The Malaysian government has announced that only rubber gloves manufactured locally can be exported, in a move aimed at safeguarding the integrity of the domestic industry amid escalating global trade tensions. According to the plantation and commodities ministry, the directive applies to all exporters licensed by the Malaysian Rubber Board (MRB). The ministry said the decision is in response to recent policy shifts in major global markets, which could otherwise turn Malaysia into a transit hub for foreign-made gloves, distorting trade flows. “These circumstances may lead to a rise in rubber glove imports, which could affect the competitiveness of the domestic rubber industry,” the ministry said. Malaysia remains one of the world’s top producers and exporters of rubber-based products. In 2024, the country recorded RM33 billion in rubber exports, with gloves contributing RM15.4 billion, or 45.8% of total rubber-related export earnings. The government also highlighted that the MRB has tightened export licensing requirements and ramped up monitoring and enforcement efforts to maintain oversight of the sector. The move follows the recent US imposition of a 10% general import tariff and a 24% tariff on Malaysian goods, temporarily suspended for 90 days. Authorities believe stricter rules are essential to prevent tariff circumvention through re-routing or mislabelling practices—issues already reported in other parts of Asia.

KUALA LUMPUR: The World Bank has revised Malaysia’s GDP growth forecast to 3.9% for 2025, citing global uncertainties and trade tensions, particularly following the recent US tariff announcements. “With all possible caveats, we project Malaysia’s 2025 growth rate at 3.9%,” said Apurva Sanghi, the World Bank’s lead economist for Malaysia, in a post on X. The projection comes in lower than Bank Negara Malaysia’s current forecast of 4.5% to 5.5%, which is now under review amid mounting external pressures. It also follows a recent downgrade by the International Monetary Fund (IMF), which revised Malaysia’s 2025 growth to 4.1%, down from an earlier estimate of 4.7%. Regional Growth Comparisons The World Bank’s latest projections show Vietnam leading among ASEAN economies in 2025 with 5.8% growth, followed by: Philippines – 5.3% Indonesia – 4.7% Cambodia – 4.0% Malaysia – 3.9% Thailand – 1.65% China’s growth is projected at 4.0%, reflecting broader economic moderation across Asia.

Malaysia Airports Holdings Bhd (MAHB) has announced that its Licence to Win (LTW) 2024 campaign has surpassed RM200 million in total sales receipts, outpacing the success of the previous LTW campaign held in 2019, which recorded RM178 million in sales. Hani Ezra Husin, Senior General Manager of Commercial Services at MAHB, expressed pride in the campaign’s success, noting that the LTW programme, which began in 2017, was paused during the pandemic. With its return this year, the campaign has once again captured the attention of travellers. “This year, the LTW campaign garnered 300,000 entries and sales receipts of over RM200 million, setting a new record,” Hani Ezra remarked. The campaign saw strong participation from Malaysians, who made up 68.1% of the entries, followed by Indonesians at 11.7%, with participants from other countries contributing 9.2%. The average spending per entry was RM610.80. “The success of LTW demonstrates that airports are not just departure points for Malaysians travelling abroad, but also destinations where travellers enjoy shopping, even when not on holiday,” Hani Ezra added. As part of the campaign, winners will enjoy six months of enhanced retail and dining experiences across five of MAHB’s international airports: Kuala Lumpur International Airport (KLIA), Penang, Langkawi, Kota Kinabalu, and Kuching. The grand prize winner, Malaysian Emilyn Ooi, received a once-in-a-lifetime RM1 million shopping spree at the airport. “This campaign has been far more than a contest,” Hani Ezra said. “It has redefined airport shopping, bringing a renewed sense of excitement and connection to our airports post-pandemic. It’s not just about sales or footfall; it’s about the energy and vibrancy that LTW 2024 has reignited. The campaign has been a resounding success in driving retail spending.” Through strategic initiatives, MAHB has empowered retailers by boosting both sales and engagement. These efforts have been supported by marketing campaigns like LTW, which have significantly increased visibility and impact. By the end of 2024, 90% of commercial outlets are expected to be open, offering passengers a wider and more diverse retail mix.

Maybank Islamic Bhd (MIB) has announced the appointment of Nor Shahrizan Sulaiman, the bank’s current Deputy Chief Executive Officer (CEO), as Officer-in-Charge following the resignation of Datuk Muzaffar Hisham, Group CEO of Islamic Banking. Muzaffar, who has led the bank for 14 years, decided to step down to pursue new professional ventures. The bank revealed that the search for a new Group CEO will begin immediately, with an update to be provided in due course. Maybank’s President and Group CEO, Datuk Khairussaleh Ramli, expressed sincere gratitude for Muzaffar’s leadership, highlighting his pivotal role in steering the Islamic banking division toward global prominence. “Muzaffar has been essential in driving our Islamic banking franchise to achieve true global leadership, in line with our M25+ strategy,” said Khairussaleh. Until a new Group CEO is appointed, Nor Shahrizan will take on the daily management of MIB, while continuing his existing duties.

Sarawak’s upcoming state-owned airline, AirBorneo, symbolises the region’s ambition to strengthen connectivity and economic cooperation across ASEAN, according to Premier Tan Sri Abang Johari Tun Openg. Speaking through Deputy Premier Datuk Amar Awang Tengah Ali Hasan during the gala dinner of the 33rd ASEAN Socio-Cultural Community (ASCC) Council Meeting on Thursday night, Abang Johari said the airline, expected to begin operations in 2026, would serve as a strategic platform for enhancing trade, tourism, and investment across Southeast Asia. “In line with our aspirations for regional connectivity, Sarawak is proud to announce the upcoming launch of our airline, AirBorneo,” the Premier stated. He emphasised that improved air links would not only make travel more convenient, but also streamline business across ASEAN capitals and major cities. This move forms part of Sarawak’s broader strategy to leverage its strategic location, rich resources, and strong cultural ties to drive regional growth and uplift livelihoods. In addition to the airline, Sarawak is also advancing major infrastructure projects to cement its role as a regional hub. These include the construction of a new international airport and a deep-sea port in Tanjung Embang, Kota Samarahan. “These developments will enhance both air and maritime connectivity, making Sarawak more attractive to investors, businesses, and tourists alike,” Abang Johari added. He further highlighted the importance of the Brunei Darussalam–Indonesia–Malaysia–Philippines East ASEAN Growth Area (BIMP-EAGA), a subregional initiative aimed at complementing ASEAN’s economic integration efforts. Sarawak’s shared land borders with Brunei and Indonesia’s Kalimantan position it as a key player in the region’s cross-border development efforts. “The relocation of Indonesia’s capital to Kalimantan will generate significant economic spillover effects throughout Borneo, creating new prospects for investment, trade, and infrastructure growth,” he said. The gala dinner was also attended by Minister of Tourism, Arts and Culture Datuk Seri Tiong King Sing and ASEAN Secretary-General Dr Kao Kim Hourn. The ASCC Council Meeting, held from 22 to 26 April, brings together ministerial representatives from all 11 ASEAN nations, including the recently admitted Timor-Leste, to discuss pressing socio-cultural priorities across the region.

The heart of Kuala Lumpur is set for a cultural revival under the KL Heritage Project, a central component of the Malaysia Madani Capital Heritage initiative, officially launched today by Prime Minister Datuk Seri Anwar Ibrahim. More than just a physical upgrade, the project aims to preserve the city’s rich cultural and historical character while reinforcing community values. According to Tunku Nashrul Abaidah, Senior Press Secretary to the Prime Minister, the initiative reflects the government’s commitment to building a city that is both creative and culturally vibrant. Speaking during the Prime Minister’s Office Daily Briefing, which was streamed live on the official Facebook pages of Anwar Ibrahim and PMO Malaysia, Tunku Nashrul said the Prime Minister views the KL Heritage Project as a symbol of restoring the city’s soul. He added that the initiative is in line with the Malaysia Madani aspiration, which prioritises development rooted in values and civilisation. Since taking office, the Prime Minister has consistently emphasised that development should not be defined solely by skyscrapers and mega projects, but by initiatives that improve people’s quality of life. “The KL Heritage Project is a reflection of that principle. It builds the future while preserving our roots and values. It strengthens cultural and heritage identity for the benefit of the people and for appreciation by tourists,” he said. He stressed that heritage preservation must go beyond maintaining historic sites. It should cultivate a deep sense of love and respect for the nation’s legacy, which in turn can yield significant social and economic returns. “The government will not allow or take lightly the loss of historical landmarks that hold great significance in the nation’s development,” he added. The project brings together a wide range of strategic partners, including Kuala Lumpur City Hall (DBKL), Think City, Khazanah Nasional, government-linked companies and investment bodies, as well as artists and cultural practitioners. All share a common goal: to make Kuala Lumpur a city for all and a true reflection of Malaysia’s identity. Through this collaborative effort, the KL Heritage Project aims to create a city that honours its past while embracing a progressive and inclusive future.