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Daythree ropes in FPT Software as partner, raises RM11m from share subscription

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DAYTHREE Digital Bhd has entered into a strategic partnership with FPT Software Malaysia Sdn Bhd to jointly pursue business process services (BPS) and information technology (IT) projects, while also securing RM11 million through a share subscription by the Vietnam-based technology group’s subsidiary.

Daythree’s wholly owned unit, Daythree Business Services Sdn Bhd, signed a teaming agreement with FPT Malaysia on Sept 17 to collaborate across industries including telecommunications, energy and utilities, financial services, logistics, hospitality and healthcare.

The partnership may also extend beyond Malaysia to markets such as Singapore, the US, Japan, South Korea, Germany, France, the UK, Hong Kong, the Philippines, Australia and New Zealand.

On the same day, Daythree entered into a conditional subscription agreement with FPT Malaysia for the latter to take up 66.67 million new shares at 16.5 sen each.

The new shares will represent a 10% stake in Daythree’s enlarged share capital upon completion.

The issue price reflects an 11.34% discount to the company’s five-day volume weighted average price of 18.61 sen up to Sept 12.

Daythree said the bulk of the proceeds, RM10.35 million or 94%, will be used for working capital — mainly salaries and operating expenses — while RM650,000 will be set aside for expenses related to the exercise.

“The board opines that the teaming agreement may enable Daythree Group to tap into the global partner ecosystem and customer base of FPT Software Group, in order to increase the volume and scale of projects that Daythree Group may participate moving forward, and to expand Daythree Group’s market presence,” the company said.

FPT Malaysia, a wholly owned subsidiary of FPT Software Company Ltd, will also be entitled to nominate one director to the board of Daythree Business Services once the subscription is completed.

FPT Software is part of FPT Corp, a multinational group listed on the Ho Chi Minh City Stock Exchange, with operations in over 30 countries.

In 2024, FPT Software Group reported revenue of about US$1.2 billion.

Daythree said the collaboration will allow it to leverage FPT’s proprietary platforms in enterprise management, artificial intelligence and cloud computing, as well as its extensive partner ecosystem, to broaden service offerings and pursue larger-scale projects.

The subscription is expected to be completed in the fourth quarter of 2025, subject to shareholder and regulatory approvals.

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Sheeran hits ‘Play’ in KL

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The hot pink-themed gathering brought together contest-winning Sheerios and invited guests, who joined in trivia games, posed at Instagram-worthy setups and took home official merchandise (Pic courtesy of Warner Music Malaysia)

The album opens a new chapter for the singer, blending festival-ready pop with tender ballads

by FADHILAH AHMAD

ED SHEERAN has opened a new chapter with his eighth studio album, “Play”, released worldwide on Sept 12, 2025, through Atlantic Records. It is the first in a planned five-album symbol series and represents a vibrant reset after the more contemplative “Subtract” era, showing Sheeran in a more buoyant and experimental light.

Malaysian fans got an early taste of the project on Sept 11, when Warner Music Malaysia hosted an exclusive listening party at Luuma Dining, Menara Sentral Vista, Kuala Lumpur (KL). The hot pink-themed gathering brought together contest-winning Sheerios and invited guests, who joined in trivia games, posed at Instagram-worthy setups and took home official merchandise.

Hosting duties were led by Fly FM’s Rika Adrina, keeping the room lively as anticipation built.

Adding to the excitement was a pre-recorded video message from Sheeran himself, thanking Malaysian fans for their support and describing ”Play” as “playful, colourful, explosive and fun,” while also holding space for more emotional and intimate themes.

The Sound of ‘Play’

Phones were put away as attendees listened to unreleased tracks such as “Opening”, “Symmetry”, “Sapphire”, “Azizam”, “Old Phone”, “Camera”, “In Other Words”, “Slowly”, “Don’t Look Down”, “The Vow”, “For Always” and ”Heaven”.

“Opening” set the tone with its shift from soft ballad to pulsing, almost rap-like beat, tackling themes of loss, fame and resilience. ”Azizam” carried a festival-ready energy with Middle Eastern influences, while ”Sapphire” drew on Sheeran’s travels in India for a more laid-back, cross-cultural vibe.

The focus track ”Camera” stood out for its raw emotion. With the refrain “I don’t need a camera when you’re in my eyes,” it captures the intimacy of love through soaring vocals that linger long after the first listen.

Other moments revealed Sheeran’s range, from the nostalgic ”Old Phone”, reflecting on lost memories, to ”The Vow”, a tender ballad reminiscent of a wedding song. Closing track ”Heaven” experiments with layered vocals and electronic textures, ending the album on a reflective note.

First Impressions

The listening party itself was a vibrant celebration, but the music left mixed impressions. Many of the songs sounded unmistakably “Ed Sheeran,” melodic, heartfelt and accessible, though not all felt distinctive. “Camera” stood out as the clear highlight, balancing vulnerability with a memorable hook, while “Opening” impressed with its lyrical honesty and dynamic tempo.

Still, “Play” shows Sheeran in reset mode, leaning back into pop playfulness after years marked by personal loss, legal battles and the conclusion of his long-running “Mathematics Tour”. The album may not reinvent the wheel, but it reflects an artist rediscovering joy in making music. Just as notable is Sheeran’s willingness to connect directly with fans, with Warner Music describing the global rollout of listening parties as a way to “amplify engagement” and make listeners feel closer to the artist’s creative journey.

Sheeran’s Global Impact

As one of the world’s best-selling artists, Sheeran’s ability to draw fans across generations remains unmatched. His “Mathematics Tour,” which ran from 2022 through 2025 with about 168 shows worldwide, reinforced his reputation as a modern pop great.

With “Play” as the beginning of a five-part series, to be followed by “Pause”, “Fast Forward”, “Rewind and “Stop”, Sheeran signals not just continuity but reinvention.

For Malaysian Sheerios who filled the room in pink, the KL listening party was more than an album preview. It was a reminder of pop music’s communal power and of Sheeran’s determination to keep writing the soundtrack to those moments.

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News

Petros sole aggregator role a key MA63 milestone, says Abang Johari

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SARAWAK Premier Tan Sri Abang Johari Openg has hailed state-owned Petroleum Sarawak Bhd (Petros) being named the sole liquefied petroleum gas (LPG) aggregator as a landmark achievement in reclaiming the state’s rights under the Malaysia Agreement 1963 (MA63).

Speaking at the state-level Malaysia Day celebrations, Abang Johari also highlighted the 2021 constitutional amendment, which restored Sarawak’s position as an equal partner with Peninsular Malaysia in the federation, as another historic milestone.

“These achievements show our seriousness in reclaiming Sarawak’s rights, but our struggle is not over. We will continue until every promise under MA63 is fulfilled for the people’s wellbeing,” he said, as reported by an online portal.

He added that Malaysia Day could not be marked without acknowledging MA63, given its crucial role in the county’s formations.

Abang Johari said his Gabungan Parti Sarawak (GPS) administration remains consistent in pushing for the full execution of promises under MA63.

“Thankfully, through close cooperation with the federal government and under the leadership of Prime Minister Datuk Seri Anwar Ibrahim, much progress has been made in restoring Sarawak’s rights,” he stated.— TMR

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News

100,000 goods and public vehicles eligible for RON95 subsidies

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AROUND 100,000 goods and public land transport company vehicles nationwide are expected to qualify for RON95 petrol subsidies under the Subsidised Petrol Control System (SKPS), according to Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali.

He said the estimate was based on the integration of SKPS data with the Road Transport Department’s (JPJ) system, Bernama reported.

Despite registration for the scheme opening yesterday, the response has been low, with only 335 vehicles from 154 companies applying so far.

Of this, 240 vehicles from 70 companies were from the public land transport sector, while 95 vehicles from 84 companies were from the goods transport sector.

“Although there is no closing data, I urge all eligible goods and public land transport companies to register immediately to ensure they receive the subsidy benefits from the first day of implementation,” said Armizan after visiting the Lok Kawi Height temporary evacuation centre, in Kinarut, Papar, Sabah.

Eligible companies are required to apply for a fleet card from three designated petrol companies upon completing the SKPS registration.

Applications can be submitted via the official portal at mysubsidi.kpdn.gov.my. — TMR

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10 hours ago 0 comments

Economy News

Malaysia sets course to become AI nation by 2030

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by AKMAR ANNUAR

MALAYSIA has placed artificial intelligence (AI) at the core of its trillion-dollar digital economy vision, with the Malaysia Digital Xceleration (MDX) Summit 2025 charting a roadmap to transform the nation into an “AI nation” by 2030.

Digital Minister Gobind Singh Deo (picture) said the shift is not optional but essential if Malaysia is to remain competitive in a rapidly changing technological landscape.

“Technology today is presenting us with opportunities we never thought possible before. The reverse of it is that, if we are left behind, others will move ahead a lot faster.

“It is not a question of choice. It is something we need to do,” he said at the launch of MDX Summit 2025 at the Kuala Lumpur Convention Centre (KLCC) today.

The three-day summit, organised by Malaysia Digital Economy Corp (MDEC) in partnership with Synapze Sdn Bhd, carries the theme Catalysing Malaysia’s Trillion-dollar Digital Future.

It is expected to draw over 5,000 participants from government, industry and academia, featuring global thought leaders such as London School of Economics and Political Science (LSE) Dr Keyu Jin and technology investor Nicklas Bergman.

Gobind said Malaysia’s strategy rests on building strong infrastructure, enforcing trusted regulations and accelerating talent development.

The government has launched the National AI Office and will unveil government technology (govtech) by the end of the year to spearhead AI-driven public service transformation.

Gobind added that the initiative builds on the prime minister’s (PM) July declaration in Parliament to raise the digital economy’s share of GDP to 30% by 2030. Current estimates place the contribution at 25% in 2025.

MDEC CEO Anuar Fariz Fadzil said MDX serves as a “collaborative stage” for ideas and partnerships that will anchor Malaysia’s digital future.

“MDX Summit 2025 is more than just a showcase of technology, it is a platform for action. By connecting global innovators, local talent, investors and policymakers, we are building the partnerships that will drive Malaysia’s digital economy forward,” he said.

Balancing Innovation With Trust And Security

Gobind stressed that rapid adoption cannot come at the expense of safety.

He cited the Cyber Security Act and the strengthened Personal Data Protection Act as safeguards for citizens while encouraging innovation.

He also warned of scenarios where AI systems, robotics or language models could malfunction or act on inaccurate data, risking financial losses or human lives.

“We must make sure there exists a structure that creates an ecosystem where trust is built. Trust can only be built if we understand what technology we are going to face next,” he added.

MDEC has made “Next-gen Trust” one of five focus areas at the summit, alongside data, computing, creativity and talent.

Together, these priorities are intended to ensure AI acts as a force for good, combining efficiency with ethical guardrails.

A major highlight was the announcement of recipients of the Malaysia Digital Acceleration Grant-AI (MDAG-AI).

The scheme, introduced in July, funds up to 70% of project costs (capped at RM2 million) for AI solutions with strong commercial potential.

Among the 13 recipients are SmartPeep Sdn Bhd, Hexa IOT Sdn Bhd, Macro Kiosk Bhd and Cargo4u Sdn Bhd, spanning sectors from healthcare to logistics.

Gobind said oversight mechanisms are in place to ensure the funds are properly used.

“There is a constant check mechanism to ensure grants are used for their actual purposes and achieve their targets. The same will be applied to MDAG-AI,” he told The Malaysian Reserve (TMR)when asked about measuring project success.

Industry players also expect fresh incentives in the 2026 federal budget to support investment in data centres, cloud computing and AI infrastructure.

Officials indicated that allocations are likely to include resources for govtech and the proposed National Data Commission, with cybersecurity measures a key focus.

Accountability has been central to Malaysia’s AI strategy. MDEC said success will be measured by adoption rates, commercialisation outcomes and the scalability of supported projects.

Internal monitoring mechanisms will track grant utilisation, with outcomes reported to the ministry.

Gobind stressed that AI adoption must also be tangible to the public, whether in education, healthcare or government services.

“It is the see-and-feel that creates the impact,” he said, noting that the simultaneous Smart City Expo showcased over 120 use cases, from smart farming to autonomous medical systems.

On another note, Malaysia’s position as ASEAN chair has given MDX 2025 added prominence.

Anuar Fariz observed that the regional digital economy is projected to reach US$1 trillion (RM4.24 trillion) by 2030, with Malaysia aiming to be a trusted hub for investment and collaboration.

Gobind said conversations with regional digital ministers underscored shared challenges in AI governance, cybersecurity and inclusivity.

“This is a conversation that is global. If we are in a position to create an ecosystem that strengthens us and all of our partners in ASEAN and beyond, then we build strength that prepares not just us, but the entire world,” he said.

Benefitting SMEs

Ensuring small businesses and rural populations benefit has been a recurring theme.

With over one million small and medium enterprises (SMEs) forming the backbone of the economy, MDEC is using MDX to give them visibility and investor access.

Exhibition halls featured startups offering solutions in fintech, cybersecurity and e-commerce, while roundtables discussed how 5G could support rural digitisation.

Gobind recalled Malaysia’s earlier shift from 4G to 5G, stressing that equitable access must underpin the AI era as well.

“We must also be in a position to make sure people have affordable access, because if we tell them there is technology to empower themselves, then they must be able to use it. No one can be left behind,” he said.

Beyond access and infrastructure, concerns remain over how automation and AI could reshape the labour market.

Industry participants highlighted the risk of job displacement in manufacturing and services.

Gobind said the government’s response would focus on reskilling, with the Next-gen Talent agenda equipping Malaysians for future jobs.

Programmes under MDEC and Yayasan Peneraju will provide training opportunities across youth, women and vulnerable groups.

Anuar Fraiz added that while AI could displace some roles, it would also create demand in fields such as quantum computing, immersive content and ethical data governance.

Working Stage

Another challenge is how Malaysia will enforce ethical standards such as transparency, fairness and accountability.

Gobind said governance structures must evolve faster than traditional legislative cycles.

“Traditionally, you had time to look at legislative change to deal with new challenges. Moving ahead, it may be very different. We may need to design new governance structures to deal with problems that occur quickly,” he said.

Experts at the summit also noted the need for dataset certification and algorithm accreditation, ensuring AI systems operate on authentic and accurate information.

As MDX Summit 2025 unfolds alongside SmartGov Malaysia and the Smart City Expo, the government is using the platform to showcase Malaysia’s readiness as an ASEAN digital hub.

Gobind closed his speech by urging participants to treat the event as a working stage rather than a showcase.

“Let’s make the opportunities presented to us work for the betterment of Malaysians, ASEAN and a trillion-dollar digital future,” he said.

The coming months will determine how much of the summit’s momentum translates into real outcomes.

With the 2026 budget expected to prioritise AI infrastructure, data governance and cybersecurity, Malaysia’s AI nation strategy is moving from vision to execution—balancing ambition with trust, inclusivity and global partnership.

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10 hours ago 0 comments

News World

Trump lands in UK with flurry of pledges from Microsoft, Open AI

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MICROSOFT Corp., OpenAI and other American companies announced plans to spend tens of billions of dollars on technology infrastructure in the UK, part of a series of business deals that coincide with President Donald Trump’s visit to the nation this week.

The tech giants are dedicating more than £31 billion ($42.3 billion) to artificial intelligence systems, quantum computing initiatives and other tech projects, the UK’s Department for Science, Innovation and Technology said in a statement on Tuesday. Joining Trump on the visit are several Silicon Valley luminaries, including Nvidia Corp. Chief Executive Officer Jensen Huang and Sam Altman from OpenAI, which is also bringing its Stargate program to the UK.

The announcements bolster an effort by British Prime Minister Keir Starmer to strengthen ties with the US and boost technology growth. He’s pledged to fast-track planning approval for data centers and ease access to the power grid in the UK, which has some of the most expensive electricity in Europe. The UK government also said it’s opening a new AI Growth Zone, a data center facility that Starmer’s Labour Party has argued will bring jobs to the country.

Alongside the tech deals, British drugmaker GSK Plc pledged to invest $30 billion in the US over the next five years, including on a biologics facility, on clinical trials and research and by adding advanced technology across its US manufacturing sites.

“The two countries are now pairing up,” Kanishka Narayan, an undersecretary for the UK’s science department, said in a press briefing. “At the heart of it, it’s a focus not just on the history of our special relationship but on our future.”

With the Silicon Valley deals, Starmer is avoiding a tactic used by some European nations, notably France, which has promoted homegrown AI firms and signaled its independence from US technology.

OpenAI is at the center of a $500 billion Stargate AI infrastructure project that Trump announced in January. The AI company has said that it will take its Stargate effort to other countries. For the British operation, OpenAI and partners such as Nscale Global Holdings Ltd. will be hosting as many as around 60,000 of Nvidia’s latest Blackwell semiconductors.

Of that, OpenAI will consider using as many as 8,000 of the chips in the first quarter of 2026 — with the potential to reach 31,000 over time. The UK Stargate project will span a number of locations, including a new AI Growth Zone in Northeast England. Narayan declined to say how much the companies would be investing in the project.

Here are some of the other announcements:

Microsoft has agreed to spend $30 billion over four years on AI infrastructure and its existing business in the UK — in what the software company called its largest financial commitment to Britain. As part of the deal, it will build a supercomputer with more than 23,000 advanced graphics processing units, the chips used to power artificial intelligence software. It’s working in partnership with British data center company Nscale. The supercomputer will be housed at Nscale’s AI campus in Loughton near London.
Nvidia said its technology will be part of an £11 billion investment in AI data centers inside and outside of the UK. It’s working with Nscale and CoreWeave Inc. on new facilities that will deploy 120,000 AI accelerator chips in the UK by 2026. Nscale is using Nvidia chips in its home country and other nations as part of a 300,000-chip-based computer build-out that the US company said will make it “a global infrastructure player.” Nvidia said that it’s investing in “accelerating the AI industrial revolution in the United Kingdom,” but declined to specify how much money it’s spending and in what manner.
CoreWeave, which supplies data center capacity to companies like OpenAI, said it will invest £1.5 billion in the UK. It’s working with Nvidia and Scottish data center company DataVita Ltd. to put its technology in a DataVita-owned facility in Chapelhall. That data center, which runs on renewable energy, will deliver 31 megawatts of capacity and be online starting in the first quarter. CoreWeave’s spending comes on top of £1 billion the company is already investing in the UK at two sites — London Docklands and Crawley.
Salesforce Inc., a seller of customer relationship software, said it will spend an additional $2 billion in the UK through 2030. That’s an extension of its five-year, $4 billion program announced in 2023.
Earlier in the week, Alphabet Inc.’s Google said it would spend £5 billion over two years in the UK, including opening a data center in Hertfordshire.
BlackRock Inc. said it will invest £500 million into data centers. The company’s CEO, Larry Fink, is joining Trump in the UK.

The UK joins other countries around the world in trying to build out local artificial intelligence infrastructure — what’s known as sovereign AI. Nvidia, the world’s most valuable company, sees this trend as key to its future growth.

Though the Santa Clara, California-based chipmaker has already seen meteoric sales increases in the past two years, it gets much of its revenue from a handful of giant data center operators. The sovereign AI push will contribute to as much as $4 trillion in AI spending by the end of the decade, Huang has said. –BLOOMBERG

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News Zara Qairina Zara Qairina Mahathir

Zara Qairina’s mother refused post-mortem despite repeated explanations – Doctor

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KOTA KINABALU — The Coroner’s Court was told today that the mother of the late Zara Qairina Mahathir firmly refused a post-mortem on her daughter’s body, despite repeated explanations about the importance of the procedure.

Dr Logaraj Ratha, a medical officer undergoing off-campus training at the Forensic Medicine Department of Queen Elizabeth Hospital since June last year, testified that he had explained the need for a medico-legal post-mortem to the mother, Noraidah Lamat, multiple times.

He said these explanations were provided before, during, and even after she signed the formal document titled “Surat Akuan Enggan Bedah Siasat Mayat Atas Kemahuan Sendiri” – a declaration form indicating her refusal to consent to a post-mortem.

“All the details in the form were filled in by the victim’s mother herself, and I was with her throughout the process,” said Dr Logaraj during questioning by deputy public prosecutor Mohd Fairuz Johari, who is acting as the conducting officer for the inquest.

Mohd Firdaus: How many times did you explain the importance of a post-mortem to Puan Noraidah Lamat?

Dr Logaraj: I explained it twice before she signed the form… I also gave further explanations several times during and after she signed it. I continued to explain the matter to her.

While reading from his witness statement, Dr Logaraj told the court that he had informed Noraidah that even though the police did not issue the post-mortem order via the POL 61 form, a clinical autopsy could still be conducted, provided that consent was given by the next of kin.

“Noraidah had come to the hospital accompanied by her sister-in-law, Nur Shira Abdullah. My explanation regarding the necessity and importance of a post-mortem was made in the presence of the latter.

“I also explained that without a post-mortem, the family would not be able to obtain an official forensic report on the cause of death in the future or file any related claims.

“However, Noraidah decided not to proceed with a post-mortem on Zara Qairina’s body,” he said, adding that the mother personally filled in and signed the refusal form, officially identifying herself as the claimant of the body.

Dr Logaraj said Nur Shira also completed and signed the witness section of the form before he signed it as the attending doctor in charge of the case.

In the inquest before Coroner Amir Shah Amir Hassan, the doctor further testified that Noraidah had verbally confirmed her understanding of the form’s contents and the explanations given.

Dr Logaraj said following Noraidah’s refusal and with no further objections raised, the hospital proceeded to release Zara Qairina’s body to her mother in accordance with hospital and departmental policies.

Earlier, the witness told the court that the investigating officer in Zara Qairina’s case, Insp Wong Yew Zhung, told him that the police would not be issuing the POL 61 form and that the hospital could release the body to the family without conducting a medico-legal post-mortem.

Zara Qairina breathed her last on July 17 at Queen Elizabeth Hospital and was buried at the Tanjung Ubi Muslim cemetery in Sipitang the same day. She was admitted to the hospital a day earlier after being found unconscious near a drain at her school hostel in Papar at 4 am.

On Aug 8, the Attorney General’s Chambers ordered her remains to be exhumed for a post-mortem, before announcing an inquest into her death on Aug 13. — BERNAMA

Wednesday, September 3, 2025

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Thursday, August 7, 2025

MCMC warns public against spreading unverified content in Zara Qairina’s case

Wednesday, September 17, 2025

Investigating officer did not issue post-mortem order in Zara Qairina’s case – Witness

Wednesday, August 20, 2025

Zara Qairina case: Five teens face bullying charges

Monday, August 11, 2025

MOE rejects bullying cover-up claims in Zara Qairina case

Friday, August 8, 2025

AGC orders exhumation of Zara Qairina’s body

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11 hours ago 0 comments

Life & Arts News

K-Pop’s return to China stalls as flagship concert delayed

11 hours ago

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Kep1er perform during the 2023 Bluespring Festival in Seoul, on May 7, 2023. (Bloomberg)

A K-POP concert that was set to be China’s largest in nearly a decade has been indefinitely postponed, highlighting the hurdles to reopening the world’s No. 2 consumer market to South Korean entertainment.

The Dream Concert was expected to be a watershed moment for the K-pop industry, with multiple groups set to perform at a 40,000-seat stadium in Hainan — an event seen as a possible end to Beijing’s long-standing informal ban on South Korean acts. Organizers said this week that the show has been postponed without a new date or further explanation. Earlier, girl group Kep1er also said their Sept. 13 show in Fuzhou has been canceled due to “inevitable circumstances.”

The back-to-back setbacks cast doubt on hopes that Beijing is ready to fully lift curbs on Korean cultural exports, which have been restricted since 2016. It also underscored the challenges South Korea’s entertainment industry faces in re-entering the Chinese market. Since 2016, Chinese authorities have largely barred concerts and television appearances by South Korean artists in retaliation for Seoul’s deployment of the US THAAD missile defense system.

The scheduling of Dream Concert and Kep1er’s show had raised optimism among investors and promoters that restrictions were easing, coinciding with a political shift in Seoul. Progressive leader Lee Jae Myung, elected this year, has pledged to pursue a more balanced policy toward Beijing, fueling speculation that cultural exchanges might soon resume.

Shares of K-pop agencies have been on a roller-coaster ride as hopes rose — then cooled — over China’s reopening. The stocks have still gained significantly since the start of the year along with a boom in the broader South Korean equity market.

The last major K-pop concert in China was Big Bang’s 2016 tour stop. Since then, the restrictions often described as an unofficial “K-wave ban” have kept the Chinese market off limits, even as K-pop grew into a global cultural phenomenon.

BlackPink’s world tour for this year covers Asian cities including Singapore, Bangkok, Jakarta but notably skips mainland China. While major performances have been blocked, small-scale events such as pop-up stores and fan meetings in second-tier cities have been permitted, hinting at China’s cautious and selective stance toward South Korean entertainment.

In the meantime, Chinese fans have been traveling to South Korea to meet their favorite pop stars, with a temporary visa-free policy starting at the end of September expected to fuel such demand. Local media have cited a potential visit by Chinese President Xi Jinping to the APEC summit in Gyeongju during Oct. 31-Nov.1 as a possible catalyst for improving ties and paving the way for K-pop’s access to the Chinese market.

The continued concert bans “reflect the lingering aftershocks of the THAAD deployment — without a policy shift at the top level, these aftereffects will persist,” said Lee Hochul, professor emeritus at Incheon National University. “If Xi Jinping attends APEC in Gyeongju, that visit could provide an opportunity to reset the tone.” –BLOOMBERG

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11 hours ago 0 comments

News World

Korea-US trade talks remain in deadlock after raid fuels tension

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SOUTH Korea’s top trade negotiator continued talks in Washington this week on a $350 billion investment pledge after an unprecedented US immigration raid stoked tensions, fueling debate in Seoul over whether the outlay is worth pursuing.

The push to finalize the agreement reached in July comes as both sides work to move past an the US immigration swoop at an under construction Georgia EV battery run by Hyundai Motor Co.-LG Energy Solution Ltd. After more than 300 Korean workers were detained and later released in the raid, Trade Minister Yeo Han-koo met US Trade Representative Jamieson Greer on Tuesday, following Industry Minister Kim Jung-kwan’s talks with Commerce Secretary Howard Lutnick last week.

Kim also said the outcome of the trade talks will shape Seoul’s future ties with Washington, while admitting he at times questions the value of the investment pledge.

The back-to-back meetings underscore Seoul’s push to break a deadlock that leaves South Korea’s cars and autoparts at a higher US tariff rate than its regional rival Japan. Auto tariffs have been a sticking point as President Donald Trump is yet to sign the executive order lowering the rate to 15%. The uncertainty has left Korean officials wary of making further commitments without clarity on how duties will be enforced.

South Korea and the US reached a broad deal setting a 15% tariff on South Korean goods, and their leaders reaffirmed it at a White House summit last month. Still, finalizing the agreement has proven difficult as the sides divided over how to structure and execute the investment package.

Washington has been pressing for a Japan-style arrangement, a demand Seoul considers politically and economically untenable. South Korea has pushed back against the proposal. Kim Yong-beom, director of national policy at South Korea’s presidential office, said last week that Seoul cannot accept the same terms as Japan’s $550 billion investment pledge, citing the disparity in the size of the two economies and the potential repercussions on the foreign exchange market.

Critics argue the investment is disproportionate to the potential benefits. Paying higher tariffs could prove cheaper, as Trump’s 25% duties would cut about 0.7% from South Korea’s GDP in lost exports, far less than the $350 billion investment, Dean Baker, a senior economist at the Center for Economic and Policy Research, said in a note last week.

“It’s difficult to understand why any country would ever enter into this sort of deal with anyone, especially Donald Trump,” Baker wrote. “They can take one-twentieth the sums being demanded by Trump and use the money to support workers and businesses hurt by the lost exports and come out way ahead.”

President Lee Jae Myung said last week that the immigration raid could affect future Korean direct investment in the US. Asked whether the detention of workers might influence the negotiations, Yeo said it was an issue Seoul must press firmly. A plane carrying South Korean workers detained in the raid returned to Seoul last week.

“There seems to be a view even in the US that the response was somewhat excessive,” Yeo, who is scheduled to return home this week, told reporters before leaving for Washington on Monday. “We will do our best to ensure our companies’ interests are reflected.” –BLOOMBERG

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11 hours ago 0 comments

Economy News

Malaysia eyes tuna hub status with Penang initiative

12 hours ago

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MALAYSIA has the potential to emerge as a regional tuna transshipment hub by strengthening downstream industry activities and improving shipping facilities, an online news portal reported.

Deputy Prime Minister (DPM) Datuk Seri Ahmad Zahid Hamidi (picture) said the strategy is aimed at preventing deep-sea catches such as tuna from being exported in raw form, ensuring that added value and income remain in the country.

“This initiative will strengthen Malaysia’s blue economy sector while enhancing food security, developing human capital and boosting competitiveness in deep-sea fishing industries,” Ahmad Zahid said.

He pointed to the newly launched cooperation between Asia Ocean Resources Sdn Bhd and Penang Port Sdn Bhd, which will see frozen tuna landed at minus 60°C at Penang Port under the premium seafood brand, Shinkai Origin.

The global tuna industry is currently valued at around US$42 billion (RM177 billion) and is projected to reach US$54 billion by 2032.

He urged that Malaysia must actively seize opportunities in this sector.

The launch of Shinkai Origin is also expected to help Malaysian deep-sea brands break into premium international markets including the European Union (EU), Middle East, BRICS nations and the US.

Besides expanding export opportunities, the initiative will generate employment and produce skilled workers through Technical and Vocational Education and Training (TVET) programmes.

Ahmad Zahid also stated the establishment of Maritime TVET to train youth in deep-sea fishing, ship maintenance and tuna processing, could develop into a high-potential cluster.

“Industry players offering practical training for TVET students in shipyards and on deep-sea vessels would accelerate technology transfer from Japan, Korea and Taiwan.

“Penang will play a catalytic role in transforming Malaysia from a landing centre into a hub for processing, research, TVET training and global tuna trade,” he said.

The post Malaysia eyes tuna hub status with Penang initiative appeared first on The Malaysian Reserve.

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