Economy

GEORGE TOWN — The Penang state government has allocated RM50.93 million to 281,135 recipients under Phase 1 of the i-Sejahtera Programme 2026, with payments to be made via electronic funds transfer (EFT) starting Feb 7.

Chief Minister Chow Kon Yeow said the allocation covers 211,471 recipients under the Senior Citizens Appreciation Programme, 42,674 under the Suri Emas Programme, 16,694 under the Persons with Disabilities (PWD) Assistance Programme and 10,296 under the Single Mothers Assistance Programme.

“The assistance includes RM200 per person for the Senior Citizens Appreciation Programme, PWD Assistance Programme (RM200), Anak Emas Programme (RM200 as a one-off), as well as RM100 each for the Single Mothers Assistance Programme and Suri Emas Programme,” he told a media conference at his office in Komtar here today.

He said applications submitted after Jan 10 this year will be processed for second-phase payments, and registration can be made through the i-Sejahtera website, with applicants encouraged to update their bank account details to ensure smooth disbursement.

Chow said last year, the state government spent RM56.76 million, benefiting 290,629 recipients under various programmes within the i-Sejahtera initiative.

He said the initiative is not merely financial assistance, but also a form of recognition for the contribution and important role of these groups in the state’s social and economic development.

The i-Sejahtera Programme reflects the state government’s appreciation and concern through annual financial assistance to Penang residents, including senior citizens, persons with disabilities, single mothers, housewives and infants. — BERNAMA

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KUCHING — Sarawak recorded its highest-ever visitor arrivals from Singapore in 2025, marking a significant milestone in the state’s tourism growth and bilateral ties, with the republic.

The Sarawak Trade and Tourism Office Singapore (STATOS) in a statement today said total visitor arrivals from Singapore reached a record 64,295 visitors in 2025, a 5.8 per cent year-on-year increase from 59,793 arrivals in 2024.

It said based on an estimated average expenditure of RM3,500 per visitor, Singaporean travellers contributed approximately RM225 million in tourism receipts to Sarawak in 2025.

“This year-on-year growth alone generated an additional RM15.7 million for the state’s economy, benefiting local businesses across the hospitality, retail, and transportation sectors.

“The strong spending power of Singaporean travellers continues to position Singapore as one of Sarawak’s most lucrative and strategically important tourism markets. Notably, these figures exclude expatriates residing in Singapore, suggesting that the actual economic impact is potentially significantly higher than reported,” it said. 

STATOS chairman Tan Sri Mohamad Morshidi Abdul Ghani said the historic achievement reflects both the dedication of the STATOS team and the rich, diverse experiences Sarawak offers.

“An increase of over 4,500 visitors year-on-year demonstrates that Sarawak is not just a destination, but a preferred choice for Singaporeans seeking meaningful, accessible, and high-quality travel experiences, especially for weekend getaway,” he said.

STATOS is an initiative of the Sarawak State Government to strengthen and develop new trade, investment and tourism linkages between Singapore, Sarawak and the world.

Established in June 2019, STATOS provides advisory services to traders — including importers from Singapore and exporters from Sarawak — as well as investors and tourism players seeking to leverage Singapore’s position as a regional economic gateway and Sarawak’s diverse resource base. — BERNAMA

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by GLORIA HARRY BEATTY

THE Malaysia Gold Association (MGA) today launched the Malaysia Gold Industry Principles (MGIP), a voluntary self-regulatory framework aimed at strengthening governance, transparency and trust across Malaysia’s gold value chain, at the 3rd Malaysia Gold Conference (MGC) 2026.

The two-day conference, themed “Shaping the Future of Asia’s Gold Markets”, drew more than 300 delegates, including regulators, international partners and industry leaders from the precious metals and jewellery sectors, with about 60% of participants from overseas.

MGA president Datuk Seri Louis Ng (picture) said the framework is intended to reinforce Malaysia’s position as a strategic gold hub by aligning the local industry with global standards.

“Through the MGIP, we are strengthening the regulatory environment, building a fully integrated value chain, and aligning with global standards: enabling robust governance, transparency, ESG (environmental, social and governance) responsibility, and leadership in Islamic finance,” he said in his keynote speech during the launch.

Ng said MGIP will serve as a foundation for responsible sourcing, consumer protection and industry credibility, stressing that it matters because it creates confidence across the entire ecosystem.

At the same time, Ng said the official publication of MGIP is expected to be in the third quarter of 2026 and called upon industry players to actively participate in its implementation.

Meanwhile, World Gold Council (WGC) CEO David Tait said a lack of trust remains a major structural issue in the global gold market, underpinning the need for industry-led governance frameworks.

“Approximately 50% of people don’t trust gold,” he said, adding that transparency and integrity are increasingly demanded by both regulators and investors.

Tait said MGIP aligns with global efforts to raise standards in the gold market.

“This is truly a global movement to instil trust and transparency in gold markets, irrespective of the products on offer or geographical location,” he said.

Tait also stated that the WGC stands ready to support MGIP’s implementation, including its role as co-chair of the working group in its first year.

MGC 2026 also featured discussions on Asian gold market trends, Shariah compliance, cross-regional trade between East Asia and the Middle East, and gold delivery standards, reinforcing Malaysia’s ambition to position itself as Asia’s consolidation and governance hub for precious metals.

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KUALA LUMPUR — Foreign investors remained net buyers for the fourth consecutive week, although net foreign inflows slid to RM12.8 million last week, down from RM510.9 million a week earlier.

MBSB Investment Bank Bhd said foreign investors were net buyers on three out of five trading days, with the largest inflow recorded on Monday (RM135.3 million), followed by Tuesday (RM68.1 million), and Thursday (RM42.6 million).

“The largest outflows were seen on Friday (RM128.1 million), and Wednesday (RM105.2 million),” it said in its fund flow report for the week ended Jan 30, 2026.

The top three sectors that recorded net foreign inflows were telecommunication and media (RM16.6 million), industrial products and services (RM14.8 million), and technology (RM8.1 million).

Meanwhile, the top three sectors that recorded net foreign outflows were financial services (RM482.8 million), utilities (RM258.2 million), and plantation (RM75.9 million).

The investment bank said similarly, local institutions extended their net buying streak to a second consecutive week, recording RM532.3 million in net inflows.

Conversely, local retailers remained as net sellers for the ninth consecutive week, with a net outflow of RM545.1 million last week.

The average daily trading volume (ADTV) saw a broad-based increase: local retailers by 4.0 per cent, local institutions by 25.7 per cent, and foreign investors by 50.8 per cent.

Regionally, foreign investors across eight Asian markets extended their net selling for the second consecutive week, with net foreign outflows of US$1.48 billion, led by South Korea, Indonesia, India and Vietnam.

All other tracked markets recorded net foreign inflows, led by Taiwan, the Philippines, Thailand, and Malaysia, it added. — BERNAMA

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JOHOR BAHRU — The Johor-Singapore Special Economic Zone (JS-SEZ) offers a scalable development model throughout the region, predicated on its seamless cross-border logistics and efficient flow of goods, according to Khazanah Research Institute chairman Nungsari Ahmad Radhi. 

He said the JS-SEZ is seen as a bilateral development framework that can transform regional development approaches, especially through direct cooperation between Johor and Singapore. 

“I hope this initiative also involves the movement of goods, where a form of limited ‘customs union’ can stimulate growth by leveraging the economic positions of Johor and Singapore,” he told Bernama. 

He said the same development model can be adapted in border areas such as Kedah, Perlis and Kelantan with Thailand’s southern provinces; Tawau, Sabah, with Indonesia’s East Kalimantan; and Kuching, Sarawak, with West Kalimantan. 

He said the development approach based on cross-border integration can accelerate regional growth and strengthen Malaysia’s role as a regional economic hub. 

So far, JS-SEZ has recorded impressive performance, with a total of RM91.1 billion in approved investments as of the third quarter of 2025, surpassing other states, including Selangor (RM51.9 billion), the Federal Territory (RM45.9 billion) and Penang (RM23.7 billion). 

Nungsari said the development of the Iskandar region in southern Johor for almost two decades has received a boost via the implementation of the JS-SEZ, which formalises Singapore’s involvement more comprehensively. 

He said the integration of Tanjung Pelepas Port with Singapore Port could potentially create one of the world’s largest maritime hubs. 

Besides, he said Senai International Airport could be utilised through closer cooperation, while Pengerang could operate in parallel with Singapore as the world’s leading crude oil downstream logistics and processing centre. 

“This not only involves investment and property development, but also integrated logistics development, which can provide economic benefits to both countries,” he said. 

Previously, Economy Minister Akmal Nasrullah Mohd Nasir said the JS-SEZ, which is now moving from the planning phase to implementation, is expected to combine Johor’s resources and workforce with Singapore’s capital, technology and global network to attract quality investments.

Meanwhile, Malaysia University of Science and Technology provost Barjoyai Bardai said the JS-SEZ was expected to have an initial impact with increased investment sentiment, particularly in the high-value industrial, logistics and support services sectors. 

He said the JS-SEZ also has the potential to reactivate the economic value of existing assets, such as Forest City, through its integration into the more productive Johor-Singapore economic ecosystem. 

He said the move should be seen as a structural improvement initiative to ensure that the large investments could be optimised continuously. 

He said the successful implementation of the JS-SEZ would also depend on policy clarity, efficient joint governance and the ability to attract quality investments that could generate spillover effects to the local economy. — BERNAMA

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KUALA LUMPUR — The large-scale onion planting programme recorded production of more than 54 metric tonnes last year, said Agriculture and Food Security Minister Datuk Seri Mohamad Sabu.

He said the programme, which covered 157 hectares, involved 125 local growers.

“This is the result of structured planning, hard work on the ground and the commitment of all parties involved. God willing, this 2025 achievement will serve as a catalyst for us to go further for the future of the people and the nation,” he said in a Facebook post today.

He added that the programme’s key impacts include higher domestic production capacity, reduced reliance on imports and a stronger national supply chain. — BERNAMA

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SIBU — The recent appreciation of the ringgit against the US dollar is “not unexpected,” as Malaysia’s economy continues to strengthen, driven by infrastructure development, rising tourism arrivals and better prices of commodities and electrical and electronics (E&E) products.

Delta Leasing Bhd executive chairman Dr Gregory Hii Sui Cheng said the stronger ringgit reflects growing confidence in the domestic economy, supported by the implementation of new infrastructure projects and better earnings from key sectors such as commodities, particularly palm oil. “The appreciation of the ringgit is not unexpected as Malaysia’s economy is gaining momentum through infrastructure development, increased inflow of tourists and improved commodity as well as E&E product prices,” he told Bernama when asked about the local currency’s recent performance.

Hii reckons that the stronger ringgit would bring positive spillover effects to regional economies, including Sibu, as higher income among local planters would translate into increased spending on goods and services. “The Sibu economy will benefit as local planters, especially those involved in oil palm, will have more disposable income to spend at local retailers. The automotive sector is also expected to enjoy better growth,” he said.

The ringgit appreciated by over 10 per cent against the US dollar in 2025 and continued its upward trend last month. The strength was driven by a potential further narrowing of the interest rate differential between Malaysia and the United States, along with strong domestic economic fundamentals.

Analysts have projected the ringgit to remain firm, with forecasts suggesting it could trade around 3.93-3.96 against the US dollar in the coming months. This is expected to benefit sectors that rely on imported raw materials and those with US dollar-denominated debt, and boost confidence in the local equity market. 

Hii also pointed out that Malaysians would benefit from lower travel costs, particularly to neighbouring Singapore, as the stronger ringgit makes overseas travel more affordable.

On the outlook of the ringgit, he noted that the local currency is expected to continue appreciating against the greenback amid concerns that the US economy may weaken further before recovering.

However, he expressed uncertainty over the extent of the ringgit’s appreciation and advised Malaysians holding US dollar and Singapore dollar assets to consider converting them into ringgit. “Against the scenario of a strengthening ringgit, I would advise Malaysians holding US dollar and Singapore dollar assets to take action and convert to ringgit now. Those who did so four months earlier would already be holding more ringgit,” he added.

He said increased inflows could be channelled into productive investments, including the domestic stock market. “One good avenue is to increase investments in Bursa Malaysia and ride on the upward trend projected by many analysts,” he added. — BERNAMA

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MEMBAKUT — A total of RM25.17 million under the “Teman Tabung Ekonomi Kumpulan Usaha Niaga (TEKUN) financing scheme was disbursed to entrepreneurs in Sabah last year, surpassing the initial target of RM21.94 million.

Deputy Minister of Entrepreneur and Cooperative Development (KUSKOP) Datuk Mohamad Alamin said the achievement reflects the growing confidence and proactive attitude of Sabah entrepreneurs in leveraging government-provided financing facilities.

“KUSKOP, together with TEKUN Nasional, will continue to ensure continuous support is provided so that micro and small entrepreneurs can grow and remain competitive,” he said in his speech at a programme with TEMAN TEKUN Entrepreneurs here today.

At the national level, Mohamad said TEMAN TEKUN financing recorded a total of RM162.05 million, exceeding the target of RM155 million, demonstrating the effectiveness of TEKUN Nasional’s financing schemes in stimulating grassroots economic growth.

“The government remains committed to ensuring that rural entrepreneurs and local communities are not left behind in the nation’s economic development. Our focus is to help entrepreneurs increase their income, strengthen their businesses and build a more stable future,” he said.

Touching on the programme, Mohamad said the organisers also set up a TEKUN Nasional Information Booth to facilitate entrepreneurs’ access to information on financing schemes, business advisory services and guidance directly from TEKUN officers.

“In addition, the programme features a TikTok Shop Booth and Digital Marketing segment as an exposure platform for local entrepreneurs to expand their market reach online and enhance their digital-based marketing capabilities.

“Business digitalisation is a crucial element in ensuring the sustainability and competitiveness of entrepreneurs. Initiatives such as exposure to e-commerce platforms and digital marketing can open up wider market opportunities for local products,” he said.

He added that TEKUN Nasional Sabah will continue to intensify field visit programmes, entrepreneurship training initiatives and financing support to enable more entrepreneurs to increase their income, expand their markets and develop sustainable, resilient businesses. — BERNAMA

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KUALA LUMPUR — Promotional strategies to ensure the success of Visit Malaysia Year 2026 (VM2026) must be detailed according to the suitability of target groups to ensure the effectiveness of the campaign in attracting tourists, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

He said marketing approaches should not be generic, as each tourist segment has different interests.

“It must be followed up with subsequent actions. It cannot rely on a single form of publicity and must be aligned with the respective target groups,” he told reporters here today.

Earlier, he had flagged off participants of the Malaysia Night Music Run held in conjunction with the Visit Malaysia 2026 Runs.

Commenting on the running event, Ahmad Zahid, who is also Chairman of the VM2026 Cabinet Committee, expressed his admiration as participation reached more than 5,000 runners, far exceeding the initial target of 3,000 participants.

He also stressed the importance of organising sporting events such as marathons in attracting foreign tourist arrivals.

“It is hoped that many international participants will take part in marathons like this, and with good publicity, we will see an increase in foreign tourists, which will certainly help generate the country’s economy,” he said.

Ahmad Zahid also commended the efforts of the Ministry of Tourism, Arts and Culture (MOTAC) and Tourism Malaysia for proactively organising familiarisation trips for various categories such as wholesalers, retailers, airlines and media practitioners to strengthen tourism promotion in a comprehensive manner.

Earlier in the morning, the KL10 event — a 10-kilometre run involving more than 2,000 runners — was flagged off by Kuala Lumpur Mayor Datuk Fadlun Mak Ujud. — BERNAMA

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KUALA LUMPUR — Heritage should not be viewed as a burden of the past, but as a strategic asset capable of generating tourism, driving the creative industry, creating job opportunities and strengthening the local business ecosystem.

Prime Minister Datuk Seri Anwar Ibrahim (picture) said the revitalisation of heritage buildings is among the key strategies to boost both international and domestic tourist arrivals.

Citing the Sultan Abdul Samad Building (BSAS) along Jalan Raja here as an example, Anwar, who is also the Finance Minister, said its conservation was not an effort to relive nostalgia, but an initiative to ensure that history continues to live on, be understood and serve as a guide in facing future challenges.

“This effort is at the core of the WARISAN KL initiative, a strategic approach by the government to revitalise Kuala Lumpur’s key heritage sites as catalysts for culture-based urban economic development,” he said in his speech at the ceremony to mark the completion of Phase 1 of the BSAS conservation here today.

His Majesty Sultan Ibrahim, King of Malaysia, graced the ceremony.

Also present were Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, Communications Minister Datuk Fahmi Fadzil and Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar.

The Prime Minister said the conservation of the BSAS is an approach aligned with Visit Malaysia 2026 (VM2026), as the country is not only known for its natural beauty and cultural diversity, but also for the strength of its historical and civilisational narrative that shapes who we are.

He said efforts to revitalise heritage buildings are not only an important strategy to drive international and domestic tourist arrivals, but more importantly reflect the aspiration to build a modern and dynamic Kuala Lumpur that remains rooted in history and values.

“As stated in the Budget 2026, the project covers all six blocks of the Sultan Abdul Samad Building complex, in addition to the conservation of Seri Negara and Carcosa at Bukit Carcosa.

“We must also ensure that the people are able to enjoy these facilities. The conservation of BSAS is among the early manifestations that can be seen and experienced by the public; however, conservation cannot stop at structures alone. Heritage buildings must be brought to life,” he said.

He said BSAS will house the Kuala Lumpur City Gallery, which traces the journey of the building and the capital city through five themed spaces spanning three centuries of history.

Apart from that, he said the Royal Selangor Gallery will showcase pewter craftsmanship as a reflection of the economic legacy, creativity and entrepreneurial spirit of the people of Kuala Lumpur, rooted in the city’s tin mining history.

“I am confident that BSAS and this entire historic complex will continue to reflect the nation’s identity – a country that is advanced and progressive, yet remains connected to its historical roots, developing not only through economic strength but also through soul, values and humanity,” he said.

The Prime Minister said the presence of His Majesty Sultan Ibrahim was not solely to grace the ceremony but symbolised a reminder that the nation’s journey remains anchored in history, guided by values and protected by the institution of the Constitutional Monarchy.

“I would like to express my appreciation to all parties involved in making this effort a success, especially the team from Khazanah Nasional Berhad, as well as all the ministries and government agencies involved,” he said.

The building was named the Sultan Abdul Samad Building in honour of the late Sultan Abdul Samad ibni Almarhum Raja Abdullah, the Sultan of Selangor during the era of its construction, and was officially opened in 1897 by Frank Swettenham, the first British Resident-General of the Federated Malay States.

BSAS also witnessed the birth of the nation when the Union Jack was lowered for the last time at the stroke of midnight on Aug 31, 1957, marking the end of British rule and the beginning of a new era as an independent and sovereign nation. — BERNAMA

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