Malaysia

PUTRAJAYA: The Ministry of Foreign Affairs has clarified that there are no changes to visa requirements or immigration policies specifically affecting Malaysian citizens travelling to or residing in the United States. In an official statement issued on Saturday, the ministry — commonly known as Wisma Putra — addressed concerns stemming from recent media reports on immigration developments in the US. “While recent reports have highlighted immigration-related developments in the United States, we wish to clarify that these developments are not specifically targeted at Malaysians,” the ministry said. However, the ministry urged all Malaysian citizens planning to travel to the US, or currently residing there, to remain informed of any updates issued by American authorities regarding entry, visa, and immigration policies. Wisma Putra added that it will continue to monitor the situation closely and provide updates should any changes affecting Malaysian citizens arise. “All travellers are encouraged to consult official sources for verified information and to exercise due diligence when planning their travel or staying abroad,” the statement read. The ministry also reminded Malaysians in the US to comply with local laws, immigration regulations, and the terms of their visas, which are strictly enforced. For assistance or inquiries, Malaysians in the US may reach out to any of the following diplomatic missions: Embassy of Malaysia, Washington, DCAddress: 3516 International Ct NW, Washington, DC 20008Phone: +1 (202) 375 4396Email: [email protected] / [email protected] Consulate General of Malaysia, New YorkAddress: 313 East 43rd Street, New York, NY 10017Phone: +1 (212) 490 2723Email: [email protected] Consulate General of Malaysia, Los AngelesAddress: 777 South Figueroa Street, Suite 600, Los Angeles, CAPhone: +1 (213) 892 1238Email: [email protected]

PUTRAJAYA: Prime Minister Datuk Seri Anwar Ibrahim has strongly criticised American conservative political commentator Bill O’Reilly for his disparaging remarks about Southeast Asia’s economic standing, calling them “arrogant” and “ignorant”. O’Reilly, in a recent video segment, claimed that Malaysians “have no money” and were therefore irrelevant as a trading partner to China—a comment that drew sharp rebuke from Anwar, who is also the Finance Minister. “This is a clear display of extreme arrogance by individuals who are, in fact, poorly informed, ignorant, and who believe that only their group or nation is successful,” said Anwar during a media conference following the Ministry of Finance’s Hari Raya Aidilfitri celebration on Friday. “In social sciences, this is referred to as a trapped mindset — a worldview shaped by imperialist attitudes that fosters xenophobia, racial prejudice, and Islamophobia,” he added, pointing to what he described as a deeply entrenched colonialist outlook in O’Reilly’s commentary. Anwar was joined at the event by his wife, Datuk Seri Dr Wan Azizah Wan Ismail, along with Finance Minister II Datuk Seri Amir Hamzah Azizan, Deputy Finance Minister Lim Hui Ying, and Treasury Secretary-General Datuk Johan Mahmood Merican. O’Reilly’s comment came in response to Chinese President Xi Jinping’s recent visits to Malaysia, Vietnam and Cambodia. During Xi’s three-day official visit to Malaysia — his second since 2013 — the two countries elevated their diplomatic relationship to a comprehensive strategic partnership. Anwar and Xi also held bilateral discussions at the Seri Perdana Complex, covering key areas of cooperation and exchanging views on regional and international matters of mutual interest. The leaders witnessed the signing of 31 documents, including memoranda of understanding, agreements, and letters of intent between the Malaysian and Chinese governments. Malaysia and China have enjoyed strong diplomatic ties since 1974, celebrating the 50th anniversary of that relationship in 2024. China has been Malaysia’s largest trading partner for 16 consecutive years. In 2023, total bilateral trade reached RM484.12 billion, comprising 16.8% of Malaysia’s total global trade of RM2.88 trillion.

KUALA LUMPUR – Chinese electric vehicle (EV) manufacturer Leapmotor, in partnership with European automotive giant Stellantis, has officially launched its operations in Malaysia, signalling a strategic move to establish the country as a key regional production hub for EVs. The joint venture kicks off with an initial investment of €5 million (approximately RM24 million). The collaboration marks Leapmotor’s entry into the Malaysian market, with plans to begin local assembly using semi-knocked down (SKD) kits later this year. Malaysia will play a critical role in supporting the group’s wider production and export objectives across Southeast Asia. “By combining Leapmotor’s EV innovation and success with Stellantis’ regional expertise and global scale, we are laying the foundation for an accessible, sustainable future of mobility right here in Malaysia and across Southeast Asia,” said Ashwani Muppasani, Chief Operating Officer of Stellantis India & Asia Pacific, during the launch event. Isaac Yeo, Managing Director of Stellantis ASEAN, confirmed that production will begin with the Leapmotor C10, a D-segment SUV that launched in October 2024. Production is scheduled to commence by the end of 2025, with export activities anticipated between 2026 and 2027. “Operations will gradually scale up through 2030 to meet growing demand. We’ll also introduce new models such as the B10 and C10 RS over the next few years,” said Yeo. He added that the plant currently has an annual capacity of 60,000 units, with room for future expansion. The Leapmotor C10, measuring 4,739 mm in length and 1,900 mm in width with a 2,825 mm wheelbase, is positioned to compete strongly within its price segment, offering size and features that outpace several rivals. The local assembly initiative aligns with Malaysia’s National Automotive Policy and supports the government’s goals to strengthen EV manufacturing capabilities ahead of the nation’s ASEAN chairmanship in 2025. Leapmotor founder, chairman and CEO Zhu Jiang Ming, along with Leapmotor International CEO Tian Shu Xin, were also present at the launch, underscoring the significance of the partnership in accelerating EV adoption in the region. The companies plan to leverage Stellantis’ existing distribution network for further regional expansion, with Thailand already identified as the next target market.–BUSINESS TIMES

KUALA LUMPUR: Mohd Khairul Akmal Mohd Jasni, a former manager at Petroliam Nasional Bhd (Petronas), pleaded not guilty in the Sessions Court today to a charge of attempting to disclose confidential information related to the oil company’s operations and financial performance. The 40-year-old former Business Unit Performance manager was accused of attempting to reveal this confidential information, which he obtained in the course of his duties, to Sarawak Petroleum Company (Petros). The alleged incident took place on June 8, 2024, between 3.19pm and 3.21pm at a condominium unit located in Jalan Pinang, Kuala Lumpur. The document in question, titled “1Q 2024 Upstream Business Performance Operational & Financial,” was said to have been intended for disclosure to Petros. The charge is framed under Section 203A(1) of the Penal Code, which, in conjunction with Section 511, carries a penalty of up to RM1 million in fines or a prison term of up to one year upon conviction. Section 511 stipulates a prison sentence not exceeding half of that outlined in Section 203A(1) for attempted offences. Judge Siti Shakirah Mokhtarudin granted Mohd Khairul Akmal bail of RM20,000 with one surety and set May 19 for the case mention. Additionally, the accused was ordered to surrender his passport to the court. Deputy public prosecutor Mohd Sabri Othman is handling the prosecution, while lawyer Fadhli Sutris is representing the accused.–BERNAMA

KUALA LUMPUR: AmInvestment Bank has downgraded its outlook on Malaysia’s technology sector from ‘overweight’ to ‘neutral’, citing a weaker-than-expected growth outlook following the announcement of broader and more punitive reciprocal tariffs by the US. In its sector update released on Friday, the investment bank highlighted that ongoing policy uncertainty and geopolitical headwinds are likely to dampen demand and delay capital expenditure across the sector. While Malaysia remains relatively well-positioned compared to regional peers in terms of tariff exposure, AmInvestment cautioned that prolonged policy indecision could discourage new investment inflows. As a preemptive move, AmInvestment has trimmed earnings forecasts and target price-to-earnings (P/E) multiples for the tech firms under its coverage. It now applies valuation multiples at one standard deviation below the five-year average to reflect the sector’s more cautious outlook. The bank revised down FY2025 revenue projections by 13% and earnings by 23% for covered tech stocks. It now forecasts a 16% year-on-year earnings decline for the sector in 2025—markedly lower than the consensus estimate of 31% growth. Notable rating and target price adjustments include: ViTrox Corporation Bhd (KL:VITROX): Downgraded to ‘hold’, target price reduced from RM4.40 to RM2.40 Malaysian Pacific Industries Bhd (KL:MPI): Downgraded to ‘hold’, target price cut from RM27.80 to RM13 Inari Amertron Bhd (KL:INARI): ‘Hold’ maintained, target price reduced from RM2.05 to RM1.50 Pentamaster Corporation Bhd (KL:PENTA): ‘Hold’ maintained, target price lowered from RM3.25 to RM2.45 Greatech Technology Bhd (KL:GREATEC): ‘Buy’ rating retained, but target price trimmed from RM2.60 to RM1.60 VS Industry Bhd (KL:VS): ‘Buy’ retained, target price reduced from RM1.45 to 85 sen Despite the downgrades, AmInvestment remains optimistic about companies with strong US client exposure, such as Greatech and VS Industry, citing their resilience in adapting to the evolving tariff landscape.

KUALA LUMPUR: Malaysia is prepared to move forward with the development of the Pan-Asian Railway Network (PARN), a strategic infrastructure initiative aimed at enhancing connectivity between Malaysia and China, with a focus on expanding trade opportunities in the halal sector. Transport Minister Anthony Loke Siew Fook said Chinese President Xi Jinping had expressed support for the initiative during his recent state visit to Malaysia. The proposed rail network is expected to unlock access to markets in western China, including Inner Mongolia and Xinjiang—regions with substantial Muslim populations. “This presents valuable prospects for the direct export of halal products via rail to these emerging markets,” said Loke at a press conference following the Railway Assets Corporation’s (RAC) 2025 Appreciation Ceremony and Open Day on Friday. He stressed that the Unity Government continues to prioritise the development of global rail connectivity as part of its broader economic and regional cooperation goals. A key milestone in Malaysia’s international rail ambitions is the Asean Express, a pilot initiative launched in partnership with Thailand’s State Railway and logistics partners in China. The service transports cargo from Malaysia to Chongqing, China, with a current transit time of nine days. “Our hope is to see this become a regular, commercially viable service,” Loke said. However, Loke acknowledged that legal and regulatory frameworks remain key challenges in realising seamless cross-border rail services. Ongoing discussions with regional partners aim to address these issues. He also provided updates on domestic infrastructure progress, noting that the double-tracking upgrade from Johor Bahru to Padang Besar is expected to be completed by year-end. Once finalised, Malaysia will have a continuous double-track rail network along its west coast corridor, improving both passenger and cargo efficiency. Looking ahead, Loke is scheduled to meet with Thailand’s Deputy Prime Minister and Transport Minister, Suriya Juangroongruangkit, on May 2 to further discuss the PARN project and reinforce bilateral cooperation. In his closing remarks, Loke reiterated Malaysia’s call for stronger ASEAN integration through interconnected railway systems. “Linking rail networks from Peninsular Malaysia to Thailand, Laos, and China has long been part of ASEAN’s shared vision for regional connectivity,” he said.