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Loke : Govt airfare subsidy keeps festive ticket prices affordable

2 days ago

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(Pic credit to The Information Department Malaysia)

by NURNABIHAH DINI

THE government’s airfare subsidy programmes has helped reduce the cost of festive season flights between Peninsular Malaysia and Sabah, Sarawak and Labuan.

Transport Minister Anthony Loke (picture) said without the subsidy, one-way tickets from Kuala Lumpur (KL) to destinations such as Tawau, Sandakan and Kota Kinabalu could cost up to RM1,000 or more, depending on demand and seat availability.

“In 2024, the government capped fares at RM599 for flights three days before celebrations, while the cost exceeding that amount was fully covered through subsidies.

“For 2025, the maximum fare was reduced to RM499 and the subsidy period was extended to four days before the festive season,” he told Dewan Rakyat today.

He added that the ministry spent RM11 million in 2024 to subsidise nearly 27,000 flight tickets and RM19.5 million in 2025 to cover almost 40,000 tickets, ensuring passengers paid no more than RM499 for festive season travel.

Loke said the subsidy programme has been implemented for celebrations such as Chinese New Year, Hari Raya Aidilfitri, Gawai Dayak, Pesta Kaamatan and will continue for Christmas.

He was responding to Sandakan MP Vivian Wong Shir Yee, who asked about the average cost of flights during festive seasons and whether airlines would be required to disclose the amount of government subsidy applied to each ticket.

Loke added that the Transport Ministry (MOT) would discuss with airlines ways to better inform passengers about the subsidy amounts.

“MOT is working with Malaysia Airports Holdings Bhd to expand arrival gates and add more aerobridge facilities at Sandakan Airport under the Airport Development Fund, following the signing of a new operating agreement between the government and Malaysia Airports,” he said.

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News

Fomca urges wider use of Budi95 model for targeted subsidies

2 days ago

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THE Federation of Malaysian Consumers Associations (Fomca) said targeting subsidies through the Budi Madani RON95 (Budi95) model could help reduce leakages and misuse.

Fomca CEO Dr Saravanan Thambirajah told the New Straits Times that the Budi95 model, which links fuel subsidies to MyKad holders, should be extended to other essential subsidies such as electricity, cooking oil and basic food items for fairer and more consistent distribution.

“Using the MyKad system as the foundation, the government could integrate additional socio-economic indicators to better assess eligibility,” he said.

Deputy Finance Minister Lim Hui Ying said on Monday that the government will review its phased plan to retarget subsidies for essential goods, including sugar, rice and cooking oil, to minimise leakages.

She said current efforts focus on ensuring the smooth rollout of fuel subsidy initiatives such as diesel and Budi95.

Saravanan said that if the government adopts a Budi95-like model for other subsidy categories, the database must be continuously updated to reflect changes in income, household size and cost burdens.

“Subsidy rationalisation must focus on the most expensive and least productive subsidies while ensuring that no vulnerable group is left behind,” he said.

He added that direct cash transfers or digital vouchers could complement the subsidy reform process to cushion the impact on lower-income families.

“Equally important is transparency on how the government uses the savings from subsidy reforms. When the public can see that rationalisation leads to better welfare programmes, improved infrastructure and social investment, public trust will grow,” he said.

Saravanan said transparency also helps prevent misinformation and public backlash when supported by strong monitoring and enforcement.

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LPPSA obtains RM1b funding from HSBC Amanah for civil service housing loans

2 days ago

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by FADILLAH AHMAD

THE Public Sector Home Financing Board (LPPSA) has obtained RM1 billion in financing from HSBC Amanah Malaysia Bhd to expand housing loan facilities for government employees.

The collaboration marks LPPSA’s first alternative funding initiative through a non-Government Guarantee (GG) facility known as Islamic Receivables Financing (RF-i).

LPPSA CEO Farid Nawawi said the initiative is in line with the government’s focus on improving access to housing finance for civil servants while promoting alternative funding mechanisms for public agencies.

“The partnership with HSBC will enable LPPSA to play a key role in helping nearly 1.6 million government employees across all grades secure housing finance and achieve their aspiration of home ownership,” Farid said in a statement.

He added that the initiative would strengthen LPPSA’s fiscal discipline in line with the Fiscal Responsibility Act.

Farid said continued adherence to Malaysia’s debt-stabilisation framework was essential to achieving a stronger and more sustainable fiscal position.

The financing deal between HSBC Amanah and LPPSA is expected to support more effective debt management by optimising the government’s exposure to guarantees.

The initiative also provides long-term benefits to civil servants and contributes to fiscal stability, fairness and equity across the nation under the Madani framework.

HSBC Malaysia CEO Datuk Omar Siddiq said the RM1 billion financing package supports the government’s agenda to expand housing access for civil servants.

“This initiative not only strengthens the government’s debt-management efforts but also delivers social and economic benefits for the civil-service community, contributing to a more stable financial climate,” he said.

He added that the solution shows HSBC’s expertise in offering Shariah-compliant banking services that meet the needs of the public-service sector.

The RF-i structure introduced by HSBC Amanah enables LPPSA to enhance funding agility and complements its existing GG sukuk programme, allowing diversification of funding sources.

The approach ensures competitive financing costs while reinforcing LPPSA’s mission to provide long-term housing finance for the public sector.

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Life & Arts News

BTS’ Jimin and Jungkook to return for season 2 of Disney+ travel show

2 days ago

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DISNEY+ will release the second season of its reality travel series “Are You Sure?!” featuring BTS members Jimin and Jungkook next month, the streaming platform announced Wednesday, Yonhap News Agency reported.

The show follows the two K-pop stars as they embark on another spontaneous journey together, each bringing only a small suitcase.

This time, the duo will spend 12 days travelling across Switzerland and Vietnam, taking in scenic landscapes, local cuisine and leisure activities.

Season 2 of “Are You Sure?!” will premiere on Dec 3 with its first two episodes. The eight-part series will drop two new episodes every Wednesday. — BERNAMA-YONHAP

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News World

Long-shot socialist and Trump foe Mamdani becomes next NY mayor

2 days ago

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Zohran Mamdani’s election as New York mayor caps an extraordinary rise for the leftist local lawmaker who emerged from relative obscurity to lead a supercharged campaign for the US megacity’s top job. (Photo by Leonardo Munoz / AFP)

NEW YORK — Zohran Mamdani’s election as New York mayor caps an extraordinary rise for the leftist local lawmaker who emerged from relative obscurity to lead a supercharged campaign for the US megacity’s top job.

Since his surprise victory in the Democratic Party primary in June, New Yorkers have become used to seeing his bearded, smiling face on television — and on badges proudly worn by his supporters.

The 34-year-old election winner was born in Uganda to a family of Indian origin and has lived in the United States since he was seven, becoming a naturalized US citizen in 2018.

He is the son of filmmaker Mira Nair (“Monsoon Wedding,” “Mississippi Masala”) and Mahmood Mamdani, a professor and respected Africa expert — leading some of his detractors to call him a “nepo baby.”

He followed a path paved by other youngsters from elite liberal families, attending the elite Bronx High School of Science followed by Bowdoin College in Maine, a university seen as a bastion of progressive thought.

Under the alias “Young Cardamom,” he ventured into the world of rap in 2015, influenced by hip-hop group “Das Racist,” which had two members of Indian origin who played with references and tropes from the subcontinent.

Mamdani’s attempt to break into the competitive world of professional music did not last, with the performer-turned-politician calling himself a second-rate artist.

He took an interest into politics when he learned that rapper Himanshu Suri, who performed under the alias Heems, was supporting a candidate for city council — and joined that campaign as an activist.

Mamdani went on to become a foreclosure prevention counselor, helping financially struggling homeowners avoid losing their homes.

He was elected in 2018 as a lawmaker from Queens, a melting pot of predominantly poor and migrant communities, representing the area in the New York State Assembly.

‘Disaffected voters’

The self-proclaimed socialist, who has been re-elected three times, forged an image that has become his trademark — a progressive Muslim just as comfortable at a Pride march as he is at an Eid banquet.

He put the goal of making the city affordable for everyone who are not wealthy, the majority of its approximately 8.5 million residents, at the heart of his campaign.

He has promised more rent control, free day care and buses, and city-run neighborhood grocery stores.

Mamdani is also a long-standing supporter of the Palestinian cause, although his positions on Israel — which he has called an “apartheid regime” while branding the war in Gaza a “genocide” — have drawn the ire of some in the Jewish community.

In recent months he has made a point of vocally denouncing antisemitism — as well as the Islamophobia he has suffered.

Playing the race card, President Donald Trump, who calls Mamdani a “little communist,” denounced him as a “a proven and self professed JEW HATER” Tuesday as New Yorkers were heading to the polls.

Mamdani is something of an establishment “outsider,” according to Costas Panagopoulos, a political science professor at Northeastern University.

“He has managed to galvanize support from disaffected voters and others in New York City who are dissatisfied with the status quo and with an establishment that they perceive to be overlooking their needs and policy preferences,” he said.

Mamdani, a keen soccer and cricket fan, recently married US illustrator Rama Duwaji, and put his experience of activism to work in a strategically coordinated canvassing and leaflet campaign that he has paired with an extensive and often humorous use of social media.

“He really is a kind of an hybrid of a great 1970s campaign and a great 2025 campaign,” said Lincoln Mitchell, a Columbia University professor. –AFP

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News Sports

Liverpool down Real Madrid in Champions League, Bayern edge PSG

2 days ago

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Jude Bellingham central midfield of Real Madrid and England and Virgil van Dijk centre-back of Liverpool and Netherlands compete for the ball during the UEFA Champions League 2025/26 League Phase MD4 match between Liverpool FC and Real Madrid C.F. at Anfield on November 4, 2025. (Photo by Jose HERNANDEZ / Anadolu via AFP)

ALEXIS Mac Allister scored the only goal as Liverpool beat Real Madrid in the Champions League on Tuesday, while Luis Diaz grabbed a brace as Bayern Munich sunk title-holders Paris Saint-Germain 2-1 in the French capital.

Premier League leaders Arsenal won 3-0 at Slavia Prague as rising star Max Dowman came off the bench to become the youngest player in the competition’s history, at just 15 years and 308 days old.

Leaders Bayern and second-placed Arsenal remain the only teams with a perfect record in the competition — alongside Inter Milan, who play their fourth match on Wednesday against Kazakh newcomers Kairat Almaty.

At Anfield, Real Madrid goalkeeper Thibaut Courtois produced a stellar performance to frustrate six-time champions Liverpool.

In a performance reminiscent of his match-defining display in the 2022 final against the same opposition — which the Spaniards won 1-0 — Courtois produced eight saves to keep back the hosts.

“He is a fantastic ‘keeper — we all know,” Mac Allister told Amazon Prime. “But today I think we were better and deserved to win.”

The Argentinian eventually broke Courtois’ resistance shortly after the hour with a header from a Dominik Szoboszlai free-kick in an encounter which saw former Liverpool hero Trent Alexander-Arnold return to his hometown amid a hail of boos when he emerged from the Madrid bench late on.

Arne Slot will be hoping the result marks a turning point for his side after they had come into the match with six defeats in their previous eight outings.

For previously unbeaten Madrid, it was first defeat in any competition since September’s 5-2 reversal at Atletico Madrid.

“It’s a tough blow to take because we came from a run of good games, but the important thing is to move forwards,” Real’s Fede Valverde told Movistar.

Just the beginning

PSG welcomed Bayern to the Parc des Princes for a fixture which midfielder Vitinha had said would bring together “the two best teams in Europe”.

And it was the Bundesliga champions who emerged victorious as they made it 16 wins from 16 outings in all competitions this season.

“I know the Champions League winner is not decided now, otherwise PSG would not have won it last season,” Bayern coach Vincent Kompany said.

“But this was a very important three points.”

Summer signing Diaz claimed the headlines as he netted a brace before being sent off for a dangerous tackle on Achraf Hakimi, all in the opening 45 minutes.

Hakimi had to be helped from the field in tears, following recent Ballon d’Or winner Ousmane Dembele who came off after just 25 minutes.

Bayern took the lead inside five minutes and then overwhelmed PSG’s usually unflappable midfield and defence with their intense pressing game.

Diaz grabbed a second when he robbed Marquinhos of possession and slotted home after the half-hour.

His dismissal then changed the game as PSG fought back in the second period but Joao Neves’ 74th-minute header was not enough to stop the Ligue 1 champions falling to a first defeat in this year’s league phase.

Bayern, on the other hand, sit top with a perfect 12 points.

Arsenal lie just behind them after a Mikel Merino-inspired win in the Czech Republic earned them a fourth win from four.

The Spaniard netted twice in the second period to seal victory against Slavia Prague, after Bukayo Saka opened the scoring from 12 yards in the 32nd minute.

Another cleansheet meant Mikel Arteta’s side are still yet to concede in the competition this year.

“We are a very strong team, we are performing in an amazing way with a lot of clean sheets,” Merino said.

“But we know that this is just the beginning and we have to keep up this good work in the future to win big things.”

Elsewhere, Micky van de Ven scored a stunning solo effort as Europa League winners Tottenham won 4-0 at home to FC Copenhagen.

Atletico Madrid got back to winning ways following a heavy defeat to Arsenal last time out by seeing off Belgium’s Union Saint-Gilloise 3-1.

Serie A sides Napoli and Juventus both endured frustrating draws as the league champions played out a goalless stalemate at home to Eintracht Frankfurt and Sporting Lisbon held Juventus 1-1 — the Old Lady’s third draw so far this campaign.

Monaco earned a first win, 1-0 at debutants Bodo/Glimt of Norway, and PSV Eindhoven drew 1-1 at Olympiacos.

On Wednesday, Inter Milan will seek to rejoin Bayern and Arsenal atop the standings, while Manchester City host Borussia Dortmund and Athletic Bilbao travel to Newcastle’s St James’ Park. — AFP

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Money News

Ringgit opens steady vs greenback ahead of rate decisions

2 days ago

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THE ringgit opened almost flat against the US dollar this morning as investors awaited lending rate decisions both domestically and in the United States.

Bank Negara Malaysia’s Monetary Policy Committee (MPC) is scheduled to announce its Overnight Policy Rate (OPR) decision tomorrow, while in the US, markets are looking ahead to the Federal Reserve (Fed)’s decision on the Federal Funds Rate (FFR) next month.

The narrowing gap between the two benchmark rates remains the main factor influencing the local note’s performance.

At 8 am, the ringgit stood at 4.1945/2050 against the US dollar, compared with Tuesday’s close of 4.1950/1985.

Bank Muamalat Malaysia Bhd chief economist, Dr Mohd Afzanizam Abdul Rashid, said the market expects the MPC to maintain the OPR, while the United States continues with rate cuts, which would further narrow the gap between lending rates.

“That, coupled with ongoing fiscal reforms in Malaysia, is credit-positive for the country. More foreign funds would likely be attracted to Malaysian Government Securities and Government Investment Issues,” he told Bernama.

“So far, the bid-to-cover ratio for government bonds has been healthy at 2.6 times for the first 10 months of this year, compared with the 2022–2024 average of 2.2 times,” he added.

As for the greenback, the US Dollar Index (DXY) continued to climb towards the 100-point mark as the Washington shutdown entered its 35th day.

“It appears that the Fed should continue cutting interest rates, but mixed views among its members have challenged that outlook. This has lent support to the US dollar in the immediate term,” Mohd Afzanizam said.

He added that the US dollar–ringgit pair (USD/MYR) is expected to trade within a narrow range of RM4.19 to RM4.20 today.

At the opening, the ringgit mostly traded higher against major currencies.

It rose against the British pound to 5.4612/4749 from 5.4795/4841 at Tuesday’s close, and strengthened versus the euro to 4.8174/8294 from 4.8238/8279. However, it slipped against the Japanese yen to 2.7322/7392 from 2.7331/7355 previously.

The local note also traded mostly higher against ASEAN currencies.

It advanced against the Singapore dollar to 3.2075/2158 from 3.2131/2160 at Tuesday’s close and firmed vis-a-vis the Thai baht to 12.8701/9118 from 12.8859/9026.

The ringgit was almost unchanged against the Indonesian rupiah at 251.0/251.8 versus 251.0/251.4 yesterday, and steady against the Philippine peso at 7.16/7.19 from 7.16/7.18 previously. — BERNAMA

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Markets News

Bursa Malaysia pared gains, opens lower amid regional losses

3 days ago

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BURSA MALAYSIA pared yesterday’s gains to open lower on Wednesday, tracking losses in regional markets and a weak Wall Street close.

At 9.10 am, the FTSE Bursa Malaysia KLCI (FBM KLCI) fell 3.65 points, or 0.23 per cent, to 1,619.85, down from Tuesday’s close of 1,623.50. The benchmark had opened 1.26 points lower at 1,622.24.

Market breadth was negative, with decliners outnumbering gainers 305 to 100. A further 292 counters were unchanged, 1,945 untraded, and eight suspended.

Turnover stood at 237.78 million shares worth RM80.22 million.

Regionally, Hong Kong’s Hang Seng Index slipped 0.79 per cent to 25,952.40, South Korea’s Kospi Index fell 4.24 per cent to 3,947, Japan’s Nikkei 225 dropped 2.49 per cent to 50,216.40, while Singapore’s Straits Times Index remained unchanged at 4,422.72.

Rakuten Trade Sdn Bhd vice-president of equity research, Thong Pak Leng, said Wall Street fell on concerns over an inflated artificial intelligence (AI) valuation bubble, as traders begin to recognise AI-related stocks are overstretched and due for a pullback.

“Back home, FBM KLCI trading remains lacklustre, as illustrated by daily volume. We expect the index to hover within the 1,620–1,630 range today,” he told Bernama.

Among heavyweights, Maybank, Public Bank and IHH Healthcare were flat at RM9.95, RM4.26 and RM8.28, respectively. CIMB Group eased six sen to RM7.49, while Tenaga Nasional rose two sen to RM13.32.

On the most active list, NexG Bina added one sen to 5.5 sen, Borneo Oil and NexG remained unchanged at 0.5 sen and 28 sen, respectively. MMAG gained 0.5 sen to 14.5 sen, while Zetrix AI eased 0.5 sen to 81.5 sen.

Top gainers included Petronas Dagangan, up 16 sen to RM22.76; Westports, eight sen higher at RM5.18; United Plantations and LPI Capital, six sen each to RM25.06 and RM14.42; and Deleum, four sen higher at RM1.27.

Top losers included PJBumi, down 53 sen to RM1.24; Malaysian Pacific Industries, 44 sen lower at RM30.12; Hong Leong Financial, 14 sen down at RM21.38; KESM Industries, 12 sen lower at RM3.40; and Nestle, eased 10 sen to RM112.90.

On the index board, the FBMT 100 Index fell 29.77 points to 11,781.28, and the FBM Emas Index erased 31.12 points to 12,023.04. The FBM Emas Shariah Index lost 29.96 points to 12,025.47, the FBM ACE Index declined 17.92 points to 5,058.17, and the FBM Mid 70 Index decreased 56.38 points to 16,833.62.

By sector, the Plantation Index inched up 5.72 points to 8,030.52, while the Financial Services Index shed 38.09 points to 18,413.33. The Industrial Products and Services Index edged down 0.84 of-a-point to 169.07, and the Energy Index eased 2.90 points to 763.85. — BERNAMA

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Business News

Microsoft expands Johor data centre to drive AI growth in South-East Asia

3 days ago

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By FADILLAH AHMAD

MALAYSIA’S position as a regional digital hub is set to strengthen following Microsoft’s plan to establish a new cloud region, Southeast Asia 3 (SEA 3), in Johor Bahru.

The initiative marks another milestone in expanding the country’s digital infrastructure and meeting rising demand for secure, sustainable cloud services that support long-term economic growth.

Digital Minister Gobind Singh Deo said the investment reflected Microsoft’s continued confidence in Malaysia’s digital ecosystem and its role as a trusted regional base for secure data assets.

“We are pleased to collaborate with Microsoft as a trusted technology partner to advance Malaysia’s leadership in the regional digital economy,” he said in a statement.

Microsoft executive VP and chief commercial officer Judson Althoff said South-East Asia remains among the world’s most dynamic regions, and the new cloud region aligns with the company’s commitment to help governments and businesses develop responsibly in the AI era.

“The new region will enable organisations to build confidence, accelerate AI adoption and emerge as frontier firms,” he said.

SEA 3 adds to Microsoft’s more than 70 global Azure regions, following the earlier launch of its Malaysia West cloud region in Kuala Lumpur Raya to accelerate national AI adoption.

Microsoft said the Johor Bahru data centre will be developed responsibly with a focus on sustainability and community development.

Among the planned initiatives is the Data Centre Skills2Work Programme, implemented with The Asia Foundation and Universiti Teknologi Malaysia (UTM), to train 150 graduates within 12 months through practical industry exposure.

The company is also collaborating with the United Nations Development Programme (UNDP) Malaysia and the Johor State Planning Division (BPEN) to support 20 social enterprises and 10,000 local community members through social entrepreneurship training.

On sustainability, the SEA 3 region will use renewable energy and water-efficient cooling systems to reduce carbon emissions and water use.

In partnership with Clean International and Water Watch Penang, Microsoft will install rainwater-harvesting systems at 42 schools across Johor, benefiting about 20,000 people and saving 8.4 million litres of water annually.

The company is also working with Belia Prihatin and WWF Malaysia on mangrove-rehabilitation projects in Kampung Sungai Melayu and Sungai Perapat to encourage sustainable fisheries and ecotourism.

Through its AI For My Future initiative, Microsoft aims to train 800,000 Malaysians in AI-related skills by the end of 2025.

Microsoft Malaysia MD Laurence Si said more than 734,000 individuals had completed training as of October, spanning government, private, small and medium enterprise (SME) and rural sectors.

“As Malaysia’s technology partner for more than 33 years, Microsoft remains committed to equipping people with the AI skills needed to thrive in the digital economy,” he said.

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News World

EU countries agree on 90% emissions reduction target for 2040

3 days ago

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Chimneys at the Belchatow coal powered power plant in Belchatow, Poland. (BLOOMBERG)

EUROPEAN Union member states endorsed a deal to reduce emissions over the next decade by 90% compared with 1990 levels, a move that bolsters the bloc’s climate leadership credentials ahead of the COP30 summit.

The agreement was reached after lengthy talks that began Tuesday, according to people with knowledge of the discussions, who asked not to identified because the details are private. It paves the way for an updated EU climate pledge under the United Nations framework, and for final negotiations on the pace and depth of a transition that will reverberate across Europe’s economy.

Dozens of world leaders are meeting in the Amazonian city of Belem on Thursday for two days of climate talks, with formal negotiations beginning at the UN’s annual COP30 summit in the city on Nov. 10. –BLOOMBERG

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