Saturday, January 25

Month: December 2023

KPKT now known as Ministry of Housing and Local Government
News

KPKT now known as Ministry of Housing and Local Government

The Ministry of Local Government Development is now known as the Ministry of Housing and Local Government (KPKT). KPKT, in a statement yesterday, said the name was amended based on the decision made during the Cabinet meeting on Dec 13, and it will be officially gazetted under the Ministerial Functions Act 1969. It said that providing affordable housing remains the ministry’s main thrust, with a target of constructing 500,000 housing units nationwide, especially for the B40 and M40 groups through the 12th Malaysia Plan. It added that the strategic direction through the implementation of KPKT’s vision and mission will continue to be strengthened through eight main functions, namely Affordable Housing, Urban Planning, Landscape Development, Local Government Empowerment, Firefig...
Malaysian capital market rides out global volatility in 2023
Finance

Malaysian capital market rides out global volatility in 2023

As they say, when the United States sneezes, the world catches a cold. Global markets have been seesawing erratically since the beginning of the year when the US was shaken by a series of bank failures which led to the spiral of debt costs and risks of recession, culminating in a downgrade to its credit rating outlook by rating assessors such as Moody’s and Fitch. The world’s capital markets were also rattled by the US Federal Open Market Committee’s (FOMC) hawkish interest rate hikes that disconnected from other central banks’ rate cut decisions due to the conflict-induced humanitarian crisis in the Middle East. Fixed-income asset, equity and foreign exchange markets suffered massive outflows, as investors sought shelter in defensive assets. During the 2022-2023 cycle, th...
Datuk Lat receives Cai Zhizhong comic prize, thrilled by recognition in China
Lifestyle, The IKON

Datuk Lat receives Cai Zhizhong comic prize, thrilled by recognition in China

Malaysia’s beloved Royal Artist, Datuk Lat, was the proud recipient of the Cai Zhizhong Comic Prize at the 3rd Cai Zhizhong Comic Prize award ceremony held in Guangzhou, China, last Friday. The 72-year-old Lat, whose real name is Mohd Nor Khalid, said he was proud to be recognised by the awards committee which comprised several renowned artists from numerous branches of art in China. "I was proud to represent our country. And also the ties between China and Malaysia are currently strong, mostly in the business sector,” he said when contacted by Bernama today. He said his comic books and cartoons have had a wide audience overseas, including China, since the 1970s. He also confirmed that he was the sole foreign participant at the award ceremony this time and was also invited...
MBSA grants permission for demolition of Shah Alam Stadium, says Selangor MB
News

MBSA grants permission for demolition of Shah Alam Stadium, says Selangor MB

The demolition process of the Shah Alam Stadium for the reconstruction of the new Shah Alam Sports Complex (KSSA) is expected to be carried out soon. This follows the approval given by the Shah Alam City Council (MBSA) for the KSSA development project last Friday (Dec 22), a matter recently confirmed by the Selangor Menteri Besar, Datuk Seri Amirudin Shari. “Just got the approval from MBSA yesterday (Friday),” he said in response to inquiries from his followers on X who wanted to know about the progress of the KSSA reconstruction project. The Selangor government was previously reported to have submitted the Planning Permission (KM) plan for the KSSA project on Nov 15, involving a demolition process of the Shah Alam Stadium with a cost of RM35.5 million. The media reported ...
Londoners buying homes outside capital drops to lowest in nine years
News

Londoners buying homes outside capital drops to lowest in nine years

Most Londoners are hunkering down, hoping to weather Britain’s housing storm rather than look for more affordable homes outside the capital. Londoners spent roughly £29 billion (RM170.19 billion) on homes outside the capital this year, almost a third less than in 2022, according to a report from broker Hamptons International. While affordability pressures caused the rate of London outmigration to rise over the past 12 months, the number of homes bought outside the capital dropped to just over 69,000 — the lowest in nine years. “With only around a million homes changing hands across Great Britain this year, fewer Londoners crossed the M25 in 2023,” Hamptons head of research Aneisha Beveridge said, referring to a major highway that encircles the Greater London area. “Those that di...
China is softening stance on gaming after US$80 bil rout
Gaming

China is softening stance on gaming after US$80 bil rout

China approved 105 domestic games on Monday, the latest indication that Beijing is softening its stance after its move to tighten industry restrictions led to an US$80 billion (RM370.56 billion) rout last week. The titles included those operated by Tencent Holdings Ltd and NetEase Inc, China’s two leading game publishers that have been pummelled by Beijing’s new rules. Monday’s approvals show the Chinese authorities support the development of online gaming, an industry association said in a post on WeChat republished by the official Xinhua news agency. Chinese officials rekindled fear that they will start another round of tech crackdowns after top gaming regulator National Press and Publication Administration (NPPA) announced on Friday new rules to limit the development of onlin...
Prada plots major NYC expansion with US$835m building deal
Business

Prada plots major NYC expansion with US$835m building deal

Prada is expanding its New York presence with the acquisition of two buildings on New York’s Fifth Avenue. An entity tied to the Prada family bought 720 Fifth Ave. for roughly $410 million, according to people familiar with the matter. Earlier this week, the Italian fashion brand announced the $425 million purchase of 724 Fifth Ave., the adjacent building that houses its New York flagship store. That filing didn’t mention 720 Fifth. The combined value of $835 million makes it one of the largest real estate purchases in New York this year. A spokesperson for Prada didn’t immediately respond to a request for comment. A representative for the seller, an entity owned by developer Jeff Sutton, declined to comment. Property acquisitions have taken a hit this year as values decli...
Malaysia’s Halal Pharmaceutical Industry Leads Global Market
Business

Malaysia’s Halal Pharmaceutical Industry Leads Global Market

Malaysia has emerged as a global leader in the halal pharmaceutical industry, showcasing robust growth and adherence to Islamic principles in the production and distribution of medicines. With a focus on stringent certification processes, regulatory bodies, and industry collaboration, Malaysia has paved the way for the evolution of halal pharmaceuticals. The journey began with the introduction of the Halal Pharmaceuticals Standard MS2424 in 2012, overseen by the Department of Islamic Development Malaysia (Jakim). According to Prof Amrahi Buang, President of the Malaysian Pharmacists Society (MPS), the industry has witnessed significant growth, ranking second in size after the food industry. The export value of Malaysia's halal pharmaceuticals reached RM401 million in 2019, showc...