Malaysia

LUMUT : Prime Minister Datuk Seri Anwar Ibrahim has announced project allocations exceeding RM250 million for the Royal Malaysian Navy (RMN) base in Lumut, aimed at enhancing infrastructure and welfare support for military personnel. Among the key initiatives is a RM65 million allocation for the construction of a specialist clinic complex and the upgrading of the existing armed forces hospital within the base. The Prime Minister urged the Perak state secretary to expedite implementation of the medical facility developments. Additionally, several high-impact infrastructure projects were approved to modernise operational capabilities at the base. These include RM100 million for the upgrade of the 33kV high-voltage distribution system, RM66.5 million for enhancements to the operational jetty, and RM23.3 million for the replacement of the Bulk Fuel Installation operational tanks. Anwar, speaking during a gathering with navy personnel, reaffirmed the government’s continued commitment to strengthening national defence assets, describing security and stability as vital pillars of Malaysia’s economic advancement. Communications Minister Fahmi Fadzil and Navy Chief Admiral Datuk Abdul Rahman Ayob were also in attendance. The Prime Minister highlighted that the Ministry of Defence received one of the largest budgetary allocations in the federal expenditure plan. For 2025, RM21.2 billion has been earmarked, placing defence as the third-highest sector in terms of allocation after education and health. “This substantial provision underscores the government’s appreciation for the sacrifices made by the armed forces and its determination to ensure national security infrastructure remains robust and responsive,” Anwar said. Reflecting on past discussions with military leadership, Anwar noted that identifying critical operational requirements had been a top priority upon assuming office. “I met with all the armed forces chiefs and asked them to list their most urgent needs. Based on that feedback, we have prioritised funding to upgrade and strengthen our defence capabilities,” he said. -Bernama

KUCHING: The Premier of Sarawak, Tan Sri Abang Johari Tun Openg, has urged the Associated Chinese Chambers of Commerce and Industry of Sarawak (ACCCIS) to deepen collaboration with the state government in driving forward Sarawak’s economic transformation. Speaking at the 60th Anniversary Gala Dinner of ACCCIS, held yesterday evening, Abang Johari emphasised the importance of strategic partnerships in realising the state’s economic ambitions, particularly through leveraging Sarawak’s competitive advantage in sustainable energy. He highlighted that Sarawak’s current energy policy not only supports export-driven objectives but is also designed to attract global industrial investment. He pointed to the state’s growing appeal to manufacturers seeking reliable and clean energy sources. “If they want to manufacture whatever product and need energy, if you are competitive and have sustainable energy, people will bring their money here. Actually, the door is now knocking on us. So, I hope that ACCCIS, we can work together,” he said. Reaffirming the state government’s readiness to facilitate investment and growth initiatives, Abang Johari called on ACCCIS to act as a catalyst in building investor confidence and fostering economic expansion. He paid tribute to the chamber’s longstanding contributions since its founding in 1965, crediting ACCCIS with playing a pivotal role in Sarawak’s development over the decades. The Premier noted the considerable shift in the state’s economic landscape, moving from a timber-reliant model to a diversified and sustainability-focused economy. “In the past, we were basically dependent on timber for revenue, and this led to a lot of trees being cut down,” he remarked. “But of course, the business community — people who are very resilient — and you [ACCCIS], looked forward to diversifying economic activities as time goes by.” The evening’s event was also attended by Deputy Premier Datuk Amar Dr Sim Kui Hian and ACCCIS President Kong Chiong Ung, underscoring the shared commitment to reinforcing public-private collaboration in shaping the state’s future economic narrative. -Bernama

KPJ Healthcare Berhad has officially launched AiNNOVATION 2025, a four-day event dedicated to healthcare innovation and public wellness, taking place at the Ground Floor Centre Court of 1 Utama Shopping Centre from 12 to 15 June. The launch marks a significant milestone in KPJ Healthcare’s commitment to embedding innovation across its operations. AiNNOVATION 2025 offers a forward-looking showcase of the Group’s evolving capabilities in digital healthcare, talent development, and integrated wellness, reflecting its long-term vision of delivering purpose-driven, inclusive care. Speaking at the launch, KPJ Healthcare President and Managing Director Chin Keat Chyuan described the initiative as a comprehensive demonstration of the Group’s strategic direction. “AiNNOVATION is more than just an event. It offers a glimpse into how KPJ Healthcare is evolving with the times, investing in digital capabilities, nurturing future talent, and embedding innovation into how we work and serve. We believe innovation must serve a clear purpose. It must lead to better outcomes for patients, better tools for clinicians and better access for communities,” he said. The event was officiated by Selangor Public Health and Environment Committee Chairman Jamaliah Jamaluddin, who attended on behalf of the Selangor Menteri Besar, Datuk Seri Amirudin Shari. With the theme Driving Innovation and Inclusivity Through AI, AiNNOVATION 2025 reinforces KPJ Healthcare’s Care for Life philosophy by demonstrating how artificial intelligence and other digital tools can elevate clinical care, improve operational efficiency and expand community access. The Patient Journey Booth offers an interactive walkthrough of the entire care experience, from pre-admission to recovery, showcasing technologies such as AI-assisted diagnostics, robotic rehabilitation, digital health records and smart hospital systems. In addition to the digital showcases, the event includes complimentary health screenings, Zumba sessions, wellness-themed games, children’s robotics challenges, cooking demonstrations and various giveaways to promote community engagement. The showcase also features contributions from KPJ’s ecosystem, including its network of hospitals, KPJ Healthcare University, the KPJ Research & Innovation Centre and the Malaysia International Healthcare (MIH) Megatrends 2025 team, highlighting the Group’s collaborative and integrated approach to delivering future-ready care. Admission to AiNNOVATION 2025 is free and open to the public until 15 June. -Bernama

Kuala Lumpur has made a landmark entry into the Top 20 Emerging Startup Ecosystems, securing 18th position in the Global Startup Ecosystem Report (GSER) 2025 by Startup Genome. This achievement marks the first time a Malaysian city has entered the top ranks of the prestigious international index, which evaluates over 300 cities across more than 100 countries. The Ministry of Science, Technology and Innovation (MOSTI) attributes this milestone to Malaysia’s long-term commitment to a structured and strategic innovation agenda. The ministry stated that targeted programmes, capital mobilisation, and policy coherence have begun to show measurable results, positioning Kuala Lumpur as an increasingly competitive destination for startups and investors. The GSER 2025 highlighted Kuala Lumpur’s performance in key metrics including ecosystem performance, access to talent, funding availability and, most notably, market reach. A standout indicator was the city’s dramatic increase in Market Reach score, which surged from two to 10 — a reflection of the growing capability of Malaysian startups to scale beyond national borders and compete on the global stage. According to MOSTI, early-stage funding in Kuala Lumpur totalled RM1.5 billion over the past two and a half years, reflecting a 44% increase from the previous assessment cycle. Total venture capital funding also rose by 22%, reaching US$3.3 billion, underscoring heightened investor confidence and the accelerating pace of ecosystem maturity. Minister of Science, Technology and Innovation Chang Lih Kang noted that this advancement reflects the cumulative impact of deliberate policy design and institutional development efforts under national frameworks such as the Malaysia Startup Ecosystem Roadmap (SUPER), launched in 2021, and the recently introduced KL20 Action Plan in April 2024. He further emphasised that the shift from Kuala Lumpur’s previous GSER banding of 21–30 (recorded between 2022 and 2024) into the current Top 20 reflects the success of a cohesive national vision and effective stakeholder alignment across both public and private sectors. “Kuala Lumpur’s entry into the Top 20 Emerging Ecosystems marks a significant leap forward. This progress demonstrates how strategic alignment — supported by Super, KL20, and cross-sector collaboration — can catalyse capital formation, talent growth and market readiness,” said Chang. Under MOSTI’s leadership, Cradle Fund continues to play a central role in spearheading the development of the national startup landscape. The MYStartup Single Window initiative has already supported over 4,400 startups, serving as a consolidated platform for resources, funding and ecosystem services. Looking ahead, Malaysia is setting its sights on a new benchmark: to be ranked among the Top 20 Global Startup Ecosystems by 2030, further reinforcing its ambition to become a preferred hub for global startups, talent and investment. -Bernama

KUALA LUMPUR: The Malaysian ringgit is expected to remain within a narrow trading band against the US dollar in the coming week, as investors adopt a cautious stance ahead of key global central bank decisions, particularly the upcoming Federal Open Market Committee (FOMC) meeting scheduled for 17–18 June. Bank Muamalat Malaysia Bhd’s chief economist, Dr Mohd Afzanizam Abdul Rashid, indicated that the ringgit is likely to fluctuate between 4.22 and 4.24 against the greenback, driven by investor anticipation of the US Federal Reserve’s updated quarterly economic projections. “Market focus will centre on the Fed’s quarterly forecast, especially its outlook on the Fed Funds Rate for the rest of the year,” he told Bernama. Aside from the Fed, several other central banks are slated to meet during the same period, including the Bank of England, the Bank of Japan, and the People’s Bank of China. Additionally, regional central banks such as Bank Indonesia and Bangko Sentral ng Pilipinas are also scheduled to deliberate on monetary policy. Dr Afzanizam noted that global interest rates are generally on a downward trajectory, reflecting the growing strain on global economic growth due to continued tariff-related shocks. Meanwhile, geopolitical tensions added fresh volatility to the markets. Israel’s strikes on Iran’s nuclear sites led to a temporary spike in Brent crude prices, which surged to US$78.22 per barrel before easing back to US$73.56. Concurrently, the US Dollar Index climbed 0.31% to reach 98.228 points. “Geopolitical developments took centre stage on Friday, providing a short-term boost to the US dollar,” he said. Market observers have warned that the escalation of military conflict between Israel and Iran could lead to a further strengthening of the greenback. The Federal Reserve’s policy response will be instrumental in determining the trajectory of the dollar moving forward. During the week in review, the ringgit reversed earlier gains, pressured by rising geopolitical risk and renewed demand for the US dollar as a safe-haven asset. The local unit ended the week lower at 4.2435/2480 versus the US dollar, compared to 4.2270/2360 the previous Friday. The ringgit also traded weaker against a range of major and regional currencies. Against the Japanese yen, it eased to 2.9448/9482 from 2.9324/9390, while it slipped to 5.7482/7543 against the British pound, down from 5.7212/7334. The local note also depreciated against the euro, ending at 4.8906/8958 compared to 4.8268/8371 previously. In the ASEAN region, the ringgit posted broad-based declines. It weakened to 3.3077/3118 against the Singapore dollar from 3.2862/2934, fell to 260.2/260.6 against the Indonesian rupiah from 259.5/260.2, and slipped to 13.0807/1018 versus the Thai baht from 12.9599/9947. It remained unchanged at 7.55/7.56 against the Philippine peso. -Bernama

The Federation of Malaysian Manufacturers (FMM) has raised concerns over a forthcoming tariff adjustment at Port Klang, cautioning that the revised structure could result in a steep escalation in container handling and storage charges, potentially increasing by up to 243%. FMM president Soh Thian Lai stated that the updated tariff framework, reflecting a 30% rise and set to take effect on 1 July, could impose a substantial financial burden on the manufacturing sector. As reported by The Borneo Post, manufacturers may face container-related charges surging between 197% and 243% under the new structure. “This comes at a time when industries are already grappling with unresolved external shocks, including continued US tariff threats on Malaysian exports, the expansion of the sales and service tax, and an impending restructuring of electricity tariffs,” Soh said. He warned that the cumulative effect of these converging cost pressures would be highly detrimental to manufacturers and exporters, threatening to undermine Malaysia’s export competitiveness at a pivotal stage in the nation’s post-pandemic economic recovery. The announcement follows an earlier statement in April by Transport Minister Loke Siew Fook, who confirmed that the 30% tariff increase would be implemented in phases over a three-year period. FMM had previously appealed to the government in March to defer the proposed adjustment. At the time, Soh underscored the significant financial impact the hike would have on manufacturers and logistics providers, citing increased operating costs as a critical concern. According to Soh, the gazetted rates issued by the Port Klang Authority will see container handling fees for a 20-foot container (TEU) increase from RM300 to RM390 in three phases. He estimated that the full implementation could result in an additional RM1.125 billion in annual costs to the industry, based on Port Klang’s annual handling volume of approximately 12.5 million TEUs. Soh emphasised that Malaysia’s ports have traditionally benefitted from competitive pricing structures. However, under the revised rates, container handling charges could reach between US$120 and US$130 per TEU—on par with leading regional hubs such as Singapore and Hong Kong, but significantly higher than charges in neighbouring ASEAN nations including Vietnam, Indonesia and Thailand. “This will erode Malaysia’s value proposition and increase the risk of cargo diversion to competing regional ports,” Soh added. -FMT