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Police start criminal probe into Mandelson on Epstein emails

3 weeks ago

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LONDON’S Metropolitan Police has started a criminal probe into Peter Mandelson over alleged misconduct in public office, after the UK government said it had referred communications between him and Jeffrey Epstein to the authorities.

“The Metropolitan Police has now launched an investigation into a 72-year-old man, a former government minister, for misconduct in public office offences,” commander Ella Marriott said in a statement, without naming Mandelson in keeping with usual police practice for people who haven’t been charged. “The Met will continue to assess all relevant information brought to our attention as part of this investigation and won’t be commenting any further at this time.”

The commencement of the police probe follows Mandelson’s stepping down from the House of Lords earlier on Tuesday, after UK Prime Minister Keir Starmer condemned his alleged leaking of market-sensitive information to Epstein as “disgusting” and “appalling”, adding that Mandelson had “let his country down.”

“The government stands ready to provide whatever support and assistance the police need,” a UK government spokesperson said.

On Monday, the Metropolitan Police had said it was assessing reports it received alleging misconduct in public office in connection with the Epstein files. The government’s decision to refer evidence to the police had raised the prospect of a criminal investigation into Mandelson’s behavior.

The Justice Department files appear to show Mandelson forwarding internal Downing Street emails about tax policy proposals to Epstein while a member of former Prime Minister Gordon Brown’s cabinet in 2009, appending the comment: “Interesting note that’s gone to the PM.”

The private memo was drafted by a senior adviser in Brown’s office on June 13 that year — the same day Mandelson shared it. The note proposed tax incentives to encourage private-sector investment after the financial crisis, as well as the possibility of making £20 billion ($27.4 billion) of asset sales to reduce government debt.

In another email, Mandelson appeared to tip Epstein off that Brown planned to resign as Labour leader and prime minister hours before he actually did so. “Finally got him to go today…” he wrote on May 10, 2010.

The furore around Mandelson has also increased pressure on Starmer, who appointed him to be his ambassador to the US, before sacking him in September last year after Bloomberg News revealed the depths of his ties to Epstein.

Separately, the European Commission will assess whether the former peer might have breached rules governing the code of conduct for EU commissioners through his contact with Epstein, commission spokesperson Balazs Ujvari said at a daily press briefing in Brussels on Tuesday.

The Epstein files suggest Mandelson emailed Epstein about the European Union’s rescue facility for struggling member states, telling him the deal should “be announced tonight.” The emails are dated May 9, 2010. On May 10, European policymakers announced a €500 billion loan plan, sending the euro on its biggest rally in two years.

The latest round of Epstein material — totaling about 3 million pages — was posted on the Justice Department website with a request for visitors to confirm they are 18 or over. It includes a slew of financial and travel records, along with email correspondence. The department said that release means that almost 3.5 million pages had been produced.

The disclosure of the files relating to the disgraced financier was required by a law passed by Congress last year in response to bipartisan pressure from lawmakers, victims and activists. As was the case in previous tranches, the material contains references to wealthy and powerful people that had associations with Epstein at various points. Inclusion in the documents isn’t an indication of wrongdoing. –BLOOMBERG

Thursday, July 16, 2020

Maxwell denies sex crimes in Epstein case

Monday, February 2, 2026

India dismisses Epstein email about Modi’s visit to Israel

Tuesday, January 28, 2020

Prince Andrew accused of ‘zero cooperation’ in Epstein case

Wednesday, December 24, 2025

Latest Epstein files have Trump references, bank records

Tuesday, July 9, 2019

US hedge fund billionaire charged with sex trafficking minors

Tuesday, December 23, 2025

DOJ releases fresh tranche of Epstein files amid pressure

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3 weeks ago 0 comments

News World

India electrifying faster than China using cheap green tech

3 weeks ago

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It’s a sign that clean electricity could be the most direct way to boost growth for other developing economies

by AKSHAT RATHI

CHINA’s rapid electrification has been hailed as a miracle. By some measures, India is even further ahead.

The nation is electrifying faster and using less fossil fuels per capita than China did when it was at similar levels of economic development, according to a new report from the think tank Ember. It’s a sign that clean electricity could be the most direct way to boost growth for other developing economies, too.

Similar Level of Development

That flies against “the orthodox narrative that emerging markets must follow the same path the West and China took: Go from biomass to fossil fuels”, said Kingsmill Bond, a strategist at Ember and one of the authors of the report.

Ember’s analysis adjusted China’s and India’s GDP for the cost of living, putting India’s income per person of about U S$11,000 (RM44,550) today at the same level as China’s in 2012. That allowed the report’s authors to compare the two economies’ energy systems at a similar level of development.

Even as it boosts green electricity, India continues to rely heavily on fossil fuels. The government is considering new plans that would double India’s coal power capacity by 2047, and the country’s oil consumption growth was set to outpace China’s last year.

But the South Asian economy’s coal and oil consumption per capita is a fraction of what China’s was at similar income levels. In absolute terms, India’s fossil fuel consumption is growing at slower rates than China’s today.

That’s mainly because India has access to solar panels and electric cars at a much lower price than China did about a decade ago. Chinese investments lowered the costs of what experts call “modular technologies” — the production of each solar panel, battery cell and electric car enables engineers to learn how to make it more efficiently.

In India, 5% of all new car sales in 2024 were electric. The country’s per-capita consumption of oil for road transport is 60% lower than when China hit that milestone. As a result, Bond said that India’s peak road-oil consumption per person will likely never reach Chinese levels.

Bond and his team at Ember argue that countries such as India, who don’t have significant domestic fossil-fuel reserves, will become “electrostates” that meet most of their energy needs through electricity generated from clean sources.

No country is an electrostate yet, Bond said, but countries are increasingly turning to green electricity to power their economies. Nations that are less developed than India will see even more advantages as the cost of electricity technologies, from solar panels and electric vehicles (EVs) to battery components and minerals, continue to fall.

Bottleneck

Neither India nor China is going electric purely to cut emissions or meet climate targets, said Bond. They’re doing so because it makes economic sense, particularly for India, which imports more than 40% of its primary energy in the form of coal, oil and gas, according to the International Energy Agency (IEA).

“To grow and have energy independence, India needs to reduce the terrible burden of fossil-fuel imports worth US$150 billion each year,” said Bond. “India needs to find other solutions.”

The difficulty is that today China is the world’s biggest manufacturer of all kinds of electricity technologies, which could create a bottleneck in other parts of the world.

China has leveraged that dominance, for example to extract tariff concessions from the US in return for rare earths.

Chinese companies also control the equipment other countries need to kickstart domestic manufacturing, creating another potential roadblock for would-be electrostates. Last month, Indian giant Reliance Industries Ltd paused plans to make lithium-ion battery cells at home after it failed to secure necessary equipment from China.

Bond acknowledged that these risks could grow as trade becomes more contentious and slow down electrification. Conversely, if countries like India find ways to grow electrotech manufacturing without absolute dependence on Chinese equipment, electrification could speed up further.

With the US and Europe continuing to add exclusions for Chinese-linked electrotech, countries like India will have an incentive to invest in their own manufacturing capacity. “We are probably at a moment of peak Chinese dominance in the electrotech system, as the rest of the world starts to wake up and realize that this is the energy future,” he said. — Bloomberg

This article first appeared in The Malaysian Reserve weekly print edition

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News World

Brazil set for a battery boom, benefitting China

3 weeks ago

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by FABIANO MAISONNAVE & AKSHAT RATHI

BRAZIL is set to hold its first electricity auction for grid-scale batteries in April, and Chinese companies — which have already invested heavily in the country’s power sector — are expected to be leading contenders, potentially bidding against the likes of Tesla Inc and Petroleo Brasileiro SA.

It’s another opportunity for Chinese firms to expand their footprint in Brazil. Between 2007 and 2024, power-sector projects accounted for 45% of China’s investments in Latin America’s largest economy, totalling US$35 billion (RM141.75 billion), according to the nonprofit Brazil-China Business Council.

The auction comes after other countries in Latin America have begun contracting or building utility-scale battery projects, according to research firm BloombergNEF. Chile has been an early adopter and plans a significant battery expansion over the next five years.

Argentina awarded 667 megawatts (MW) in its first-ever energy-storage auction last September, with capacity expected to come online by 2027. Mexico’s state utility has announced at least 2.2 gigawatts (GW) of storage in its five-year expansion plan.

The global boom in solar and wind generation has led to the chronic problem of curtailment: Renewable plants are forced to shut down when there isn’t enough demand for power. Batteries can help absorb that cheap power and then inject it back into the grid when there is more demand.

In 2025, Brazil lost on average about 26% of its solar generation and 19% of its wind generation due to curtailment, according to Vinicius Nunes, a Sao Paulo-based associate at BloombergNEF. That would amount to a loss of seven billion Brazilian reais (RM5.26 billion) by one estimate.

The Brazilian government has said it hopes the auction will secure 2GW of capacity. BloombergNEF estimates that annual battery energy-storage additions in Brazil may reach around 1.3GW by 2030.

Chinese companies bring some comparative advantages, according to Larissa Wachholz, a partner at Vallya, a consultancy focused on China. They lead global battery production and, as the world’s largest investors in renewable energy, they have dealt with the challenges of integrating batteries into power grids.

“There is already a large number of (Chinese) companies in Brazil that understand the electricity market and feel comfortable expanding their role to include operating storage systems,” she said.

However, they won’t have the playing field to themselves. Among the companies to submit comments during the public consultation ahead of the auction were Tesla Inc, Petróleo Brasileiro SA (Petrobras) and Centrais Elétricas Brasileiras SA (Axia Energia).

Companies hoping to act as system integrators — combining hardware, software and controls into a battery system — will submit their own bids in the auction. Those hoping to supply equipment will partner up with other companies. Chinese manufacturers are widely expected to dominate in equipment, regardless of who ultimately wins the contracts.

“China controls everything from (battery) cell manufacturing to the production of the inputs needed to make those cells,” said Markus Vlasits, head of Brazil’s energy storage association, known as Absae.

Among the dozens of affiliates of Absae is Chinese technology giant Huawei Technologies Co, which has operated in Brazil for almost three decades and plans to participate in the auction as an equipment supplier.

“Our approach is to find partners to work together and win the auction,” said Huawei Digital Power Brazil chief technology officer Roberto Valer. “It’s not simply a matter of buying a battery in China and expecting it to arrive at the designated location with everything going smoothly.”

Best known for its telecommunications equipment, Huawei in recent years has made inroads in the global energy sector and across Latin America. The Chinese company has supplied inverters for solar farms in Argentina, provided energy storage for hospitals in Peru and built charging infrastructure for heavy-duty electric trucks in Mexico.

Last month, consultancy Wood Mackenzie ranked Huawei as the world’s leading manufacturer of inverters needed for solar farms. Sales from Huawei’s energy division contributed almost 10% of its total revenue in 2024.

Huawei also operates as a manufacturer and systems integrator of grid-scale battery energy-storage systems. While it doesn’t produce battery cells — which are sourced from global partners — the company designs and manufactures system architecture, including battery packs, power conversion systems and management software.

Last April, the company hosted Brazil’s Mines and Energy Minister Alexandre Silveira in China to showcase its battery systems. It has also worked proactively on shaping regulations, holding workshops with Brazil’s power regulator ANEEL and energy planning agency EPE.

Other Chinese companies with a growing presence in Brazil have also shown interest in participating in the bid. These include State Power Investment Corp Ltd, which owns solar and wind farms in the country; China Energy Engineering Corp Ltd, which recently acquired three solar plants; and China Three Gorges Corp, which has a strong footprint in hydro and wind power generation.

Silveira has been personally engaged in attracting Chinese companies. He was in China recently, where the auction was a key topic in meetings with Huawei, Contemporary Amperex Technology Co Ltd, Envision Energy and Sany Heavy Industry Co Ltd, among others.

“I am clear about the importance of this strong relationship between the Ministry of Mines and Energy and representatives from China’s energy and mining sectors,” he said in a press statement on Jan 21. The ministry didn’t respond to requests for comment.

Many Western countries consider critical equipment made in China or by Chinese firms as a national security risk. But Brazil “is unlikely to see Chinese companies with this kind of fear,” said Nunes of BloombergNEF. And whatever the results of the auction, he added, “a lot of the battery equipment is surely going to be provided by Chinese companies.” — Bloomberg

This article first appeared in The Malaysian Reserve weekly print edition

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3 weeks ago 0 comments

News Technology

Humans must remain accountable for agentic AI systems

3 weeks ago

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Teo (second from left) during a panel discussion ‘From Digital Age to Agentic State: A New Paradigm for Governance’ (Source: WEF’s Facebook)

Singapore’s IMDA has launched the world’s 1st governance framework specifically designed to address agentic AI systems

HUMANS must remain accountable and exercise “meaningful control and oversight” for agentic artificial intelligence (AI) systems, according to a newly released guidelines by Singapore.

Once the “green light” is given for agentic AI deployment, the document noted that an organisation should take steps to ensure human accountability.

“Specifically, ‘human-in-the-loop’ has to be adapted to address automation bias, which has become a bigger concern with increasingly capable agents.

“This includes defining significant checkpoints in the agentic workflow that require human approval, such as high-stakes or irreversible actions, and regularly auditing human oversight to check that it remains effective over time,” according to the Model AI Governance Framework for Agentic AI (MGF).

Minister for Digital Development and Information Josephine Teo announced the launch of the framework, developed by Singapore’s Infocomm Media Development Authority (IMDA), at the sidelines of the World Economic Forum 2026 (WEF 2026) on Jan 26 in Davos, Switzerland.

It is claimed to be the world’s first governance framework specifically designed to address agentic AI systems, which refer to AI agents that can independently plan, reason and take autonomous actions to achieve objectives on behalf of users.

Agentic AI is touted as the next evolution of AI, holding transformative potential for users and businesses. Compared to generative AI, AI agents can take actions, adapt to new information and interact with other agents and systems to complete tasks on behalf of humans.

While use cases are rapidly evolving, the 27-page document noted that agents are already transforming the workplace through coding assistants, customer service agents and automating enterprise productivity workflows.

These greater capabilities also bring forth new risks, it noted. “Agents’ access to sensitive data and ability to make changes to their environment, such as updating a customer database or making a payment, are double-edged swords.

As we move towards deploying multiple agents with complex interactions, outcomes also become more unpredictable.

“Humans must remain accountable and properly manage these risks. While existing governance principles for trusted AI such as transparency, accountability and fairness continue to apply, they need to be translated in practice for agents.

“Meaningful human control and oversight need to be integrated into the agentic AI lifecycle. Nevertheless, a balance needs to be struck as continuous human oversight over all agent workflows becomes impractical at scale,” it added.

It described agentic AI systems as systems that can plan across multiple steps to achieve specified objectives, using AI agents.

There is no consensus on what defines an agent, but there are certain common features — agents usually possess some degree of independent planning and action taking, for example searching the web or creating files, over multiple steps to achieve a user-defined goal.

“The risk areas highlighted in the MGF would be particularly relevant for organisations which may access and process data of a more sensitive nature, such as financial institutions and healthcare providers and their downstream or back-end service providers, or tech companies or developers which may access a broad range of data for algorithmic training purposes,” said Bird & Bird Singapore partner Jeremy Tan in a note on the firm’s website.

He said that compliance with the MGF is voluntary, though organisations remain legally accountable for their agents’ behaviours and actions.

“The MGF applies to all organisations deploying agentic AI in Singapore, whether or not training/ developing in-house AI agents, or using third-party agents,” he said.

The MGF is currently open for public feedback and submission of case studies demonstrating good practices in risk bounding, human accountability allocation, technical controls implementation, safety testing, monitoring mechanisms and end-user training. — TMR

This article first appeared in The Malaysian Reserve weekly print edition

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3 weeks ago 0 comments

News Opinion

Malaysia’s innovation paradox: Local success amid national deficit

3 weeks ago

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Universities, govt research institutes and public-private partnerships drove patent filings, with institutions like MIMOS leading the charge

FROM Tun Dr Mahathir Mohamad’s Vision 2020 and the Multimedia Super Corridor in the 1990s to the current government’s New Industrial Master Plan 2030 (NIMP2030), Malaysia has repeatedly set its sights on becoming a high-income, innovation-driven economy. On paper, Malaysia has the capabilities to succeed — a solid university sector, advanced manufacturing capabilities in electronics, automotive and petrochemicals, and a history of rising research and development (R&D) expenditure — at least until recently.

However, Malaysia’s innovation engine appears to be losing steam. Where we currently stand, it seems unlikely for Malaysia to achieve its 3.5% R&D expenditure-to-GDP target set in NIMP2030 as its funding efforts fall behind. Whereas South Korea invests 5.2% of GDP in R&D, Japan 3.3%, Taiwan 4%, and Singapore 2.2%. Malaysia’s R&D expenditure has declined from 1.44% of GDP in 2016 to just 0.95% by 2020. The decrease in R&D expenditure is accompanied by a similar decline in domestic patent applications.

Foreign Investment Hides Domestic Innovation Deficit

While foreign direct investment (FDI) in manufacturing has surged, these projects often rely on imported technology and plug into global supply chains, rather than stimulating the local innovation ecosystem. Our recent analysis of Malaysian-invented patents registered at the US Patent and Trademark Office (USPTO) showed that 75% of patents invented in Malaysia are foreign-owned, compared to 45% in Singapore and 30% in China.

This lack of domestic R&D investment suggests there are large “reverse” knowledge flows out of Malaysia, whereby innovation at Malaysian subsidiaries primarily benefits foreign headquarters.

Meanwhile, Bursa Malaysia has failed to attract major technology listings, and government-linked investment companies (GLICs) remain focused on asset-heavy portfolios rather than high-tech ventures.

The Public Sector’s Role: Catalyst or Crutch?

From 2000 to 2016, Malaysia’s innovation ecosystem rapidly developed due to public sector investment. Government funding acted as a catalyst, sparking both academic research and private sector R&D. Universities, government research institutes, and public-private partnerships drove patent filings, with institutions like the Malaysian Institute of Microelectronic Systems (MIMOS) leading the charge. However, as public R&D spending declined post-2016, so did innovation output.

The data shows a clear picture: Public sector research expenditure was the main component driving Malaysia’s patent growth. When funding decreased, private sector R&D (already lagging), further failed to pick up the slack. This suggests that Malaysia’s innovation ecosystem is highly dependent on public investment, a pattern seen in many developing economies. The question now is whether the government can reverse this trend.

Bright Spots: Penang and Johor’s Decentralised Innovation

Amid the national decline, two regions stand out: Penang and Johor. While patent activity in the Klang Valley, Malaysia’s largest urban agglomeration, has fallen by 16.2% since 2018, Penang and Johor have seen increases of 67.6% and 44.4% respectively.

These regions are anchored by strong public universities, Universiti Sains Malaysia (USM) in Penang and Universiti Teknologi Malaysia (UTM) in Johor, and thriving industrial parks like Bayan Lepas and Iskandar Puteri.

The success of Penang and Johor offers a potential blueprint for Malaysia’s innovation strategy.

Their growth suggests that decentralised innovation systems, built around regional universities and industrial clusters, can thrive even as the Klang Valley conurbation’s innovation performance declines. This shift also aligns with global trends, where secondary cities are emerging as centres of innovation. Decentralisation appears to be a key factor in achieving the goals of the NIMP.

The Potential of GLCs: Mobilising State-Linked Capital

Malaysia’s government-linked companies (GLCs) remain a dominant force in the economy, accounting for a significant share of market capitalisation on the FTSE Bursa Malaysia KLCI (FBM KLCI). These entities represent an important lever for innovation. If directed strategically, GLCs could mobilise investment into high-technology projects, increasing Malaysia’s capacity to absorb knowledge spillovers from foreign FDI.

Yet, for this to materialise, GLCs must shift from their traditional focus on asset-heavy industries to technology-driven ventures. This would require not just financial investment but also a cultural shift, one that prioritises long-term innovation and calculated risk-taking.

The Road Ahead: Policy Over Promises

Malaysia’s innovation challenges lie not in the lack of ambition but lack of execution. NIMP’s targets are laudable, but without matching policy interventions, they risk remaining simply words on paper.

The growth of Penang and Johor, amid national decline, suggests that decentralised strategies at the regional level hold the key to Malaysia’s innovation future. If Malaysia wants to escape the middle-income trap, it must move beyond a focus on FDI-driven growth, and harness the potential of its regions, with a focus on practical, localised policies that harness real innovation.

The clock is ticking regardless. Will Malaysia’s next decade be one of innovation-led growth, or will the country remain in its middle-income trap?

Pieter E Stek
Kuala Lumpur.

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3 weeks ago 0 comments

Economy News

Vietnam outlook 2026: Stars are aligning, execution is key

3 weeks ago

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Vietnam’s tourism sector has been booming, reaching a milestone of 20m international arrivals in 2025, surpassing pre-pandemic 2019 levels (pic: AFP)

by IFAST RESEARCH TEAM

VIETNAM has risen above early concerns that the country would come under significant pressure from US President Donald Trump’s reciprocal tariff policy, despite its strong trade ties with the US (accounting for approximately 30% of total exports in 2024).

Vietnam’s stock market, as represented by the VN-Index, surged by more than 40% in 2025 (in local currency terms), driven by strong domestic participation, easing trade tensions, optimism surrounding a potential FTSE Russell Emerging Market reclassification, the introduction of the new securities trading and post-trade system (KRX) and ongoing government reforms. Meanwhile, the MSCI Vietnam Index gained +69% in 2025.

Interestingly, foreign investors remained net sellers on a year-to-date (YTD) basis with retail investors accounting for over 90% of total transaction value. Looking ahead, while much of the positive news flow appears to be priced in, foreign exchange (forex) normalisation could support a return of foreign participation.

Stars Aligning Despite Challenges

We expect Vietnam’s exports to grow by 8% year-on-year (YoY) in 2026, while imports are projected to increase by 7.5% YoY, leading to a continued expansion in the trade balance. Overall, we anticipate GDP growth to moderate to 7% YoY in 2026, below the government’s ambitious target of 10%, with domestic consumption and government spending remaining the key drivers of economic activity.

Inflation is expected to remain contained at 3.5% in 2026, representing a slight YoY increase but still below the State Bank of Vietnam’s (SBV) target ceiling of 4%.

This outlook is supported by the World Bank’s projection of a 7% decline in global commodity prices in 2026, as well as expectations of limited scope for further depreciation of the Vietnamese dong.

From a monetary policy perspective, we expect the SBV to maintain interest rates at a moderate level (currently 4.5%) throughout 2026 to support economic growth, with a lower likelihood of rate cuts given the need to limit further depreciation pressures on the Vietnamese dong.

1) Continued strength in domestic consumption

We forecast Vietnam’s credit growth in 2026 to be around 18%-20%, broadly in line with 2025, supported by an accommodative monetary environment and strong credit demand from the corporate sector. Notably, corporate borrowing is expected to continue shifting from funding working capital towards financing business expansion.

We also see further room for growth in retail sales in 2026. For the first eleven months of 2025 (11M25), retail sales expanded by 9.1% YoY, still below the pre-pandemic growth range of 11%-12% YoY.

Improving macroeconomic conditions and a stronger labour market should continue to underpin retail sales growth. In addition, the 2% Value Added Tax (VAT) reduction on a broad range of goods and services, effective from July 1, 2025, is expected to help sustain consumer spending into 2026.

Tourist arrivals could provide another important catalyst. Vietnam’s tourism sector has been booming, reaching a milestone of 20 million international arrivals in 2025, surpassing pre-pandemic 2019 levels.

This performance has been supported by favourable visa policies, promotional programmes and large-scale events that have attracted a substantial number of international visitors. Chinese tourists have been a key driver of this recovery, while domestic tourism continues to serve as a strong foundation. We expect this momentum to carry through into 2026.

2) Government booster pack: Spending and reforms

The economic playbook for 2026 remains largely in the government’s hands.

Infrastructure Spending: Vietnamese government infrastructure spending in 2025 came in above expectations, at approximately US$34 billion (RM137.7 billion), compared to the original budget estimate of US$31 billion. For 2026, the government has allocated around 1,100 trillion dong (RM170.1 billion) to public investment, the highest level on record.

This is expected to lift public investment to nearly 9% of GDP, surpassing the previous peak reached in 2012. This level is comparable to China’s infrastructure investment during its major development phase between 2000 and 2015 and is expected to remain the highest among ASEAN economies in 2026.

Governance reforms: A series of reforms were introduced in 2025, including streamlining provincial-level administration to 34 provinces and centrally governed cities, down from 63. It is also reducing commune-level administrative units to around 2,000, from more than 10,000 as well as cutting the number of ministries and ministerial-level agencies to 17 from 22.

While structural reforms are supportive, the market impact will depend on execution quality and the speed at which administrative changes translate into project approvals and capital deployment.

3) FDI: Execution remains the key variable

Foreign direct investment (FDI) remains another key pillar of Vietnam’s economic strength. Registered FDI reached US$31.52 billion in 10M25, up 15.6% YoY, while realised capital rose to US$23.6 billion by November, representing an 8.9% increase and the fastest pace of disbursement growth in five years.

The full implementation of the Land Law in 2025 has materially reduced land clearance and valuation issues, enabling investors to move from approval to construction at an unprecedented pace.

The views expressed are of the research team and do not necessarily reflect the stand of the newspaper’s owners and editorial board.

This article first appeared in The Malaysian Reserve weekly print edition

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3 weeks ago 0 comments

PR Newswire

PrideStaff Financial Wins 2026 Best of Staffing® 5-Year Gold Award for Employee Satisfaction

3 weeks ago

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FRESNO, Calif., Feb. 3, 2026 /PRNewswire/ — PrideStaff Financial, a nationally recognized, franchised division of PrideStaff specializing in accounting and finance staffing, is proud to announce it has earned ClearlyRated’s 2026 Best of Staffing^® Employee Satisfaction 5-Year Gold Award. This distinction is reserved for staffing firms that have consistently demonstrated high employee satisfaction by earning the award for five consecutive years.

The Best of Staffing Employee Award is based entirely on ratings submitted anonymously by internal staff. On average, employees at winning firms are more than 1.7 times more likely to be satisfied with their firm than those working at non-winning agencies.

In this year’s survey, PrideStaff Financial earned satisfaction scores well above the global NPS benchmark for an “excellent” workplace experience. These results demonstrate the company’s success in building a culture where employees are positioned to achieve their personal and professional goals.

“This recognition speaks volumes about the pride and purpose our team brings to work every day,” said Tammi Heaton, Co-CEO of PrideStaff. “Creating a workplace where people feel valued, empowered, and supported isn’t just a goal—it’s at the core of who we are. PrideStaff Financial’s ability to maintain such high levels of employee engagement and satisfaction over time is a powerful testament to our culture and leadership. This award underscores our commitment to delivering exceptional service not only to clients and candidates, but also to the incredible people who make that success possible.”

“It’s an honor to introduce the 2026 Best of Staffing award winners,” said Baker Nanduru, CEO of ClearlyRated. “These companies keep client experience front and center, pushing the envelope in innovative service approaches. Their work is shaping the future of staffing, and it’s a privilege to recognize their achievements. Congratulations to all!”

About PrideStaff Financial
A division of PrideStaff, PrideStaff Financial specializes in accounting and financial staffing. The parent company was founded in the 1970s as 100% company-owned units and began franchising in 1995. They operate offices in North America to serve thousands of clients. With 45-plus years in the staffing business, headquartered in Central California, all PrideStaff brands offer the resources and expertise of a national firm with the spirit, dedication, and personal service of smaller, entrepreneurial firms. For more information on PrideStaff Financial services, visit our website.

PrideStaff and PrideStaff Financial’s shared mission: Consistently provide client experiences focused on what they value most.

About ClearlyRated
ClearlyRated is the leading CX platform designed specifically for professional services firms. They help firms leverage the Net Promoter^® Score survey methodology to gain deep insights, identify strengths and weaknesses, and build brand reputation through verified service ratings. Learn more on their website.

About Best of Staffing^®
ClearlyRated’s Best of Staffing^® Award is the only program in the U.S. and Canada that recognizes staffing agencies based entirely on ratings from clients, candidates, and internal employees. Award winners are featured by city and area of expertise on ClearlyRated.com, helping service buyers find the highest-rated firms through validated testimonials and performance scores.

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SOURCE PrideStaff

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PR Newswire

Rx relief Earns ClearlyRated’s 2026 Best Of Staffing® Client and Talent 15-Year Diamond Awards for Service Excellence

3 weeks ago

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FRESNO, Calif., Feb. 3, 2026 /PRNewswire/ — Rx relief, a Joint Commission Certified pharmacy staffing firm and division of The PrideStaff Companies®, is proud to announce it has earned ClearlyRated’s 2026 Best of Staffing® Client and Talent 15-Year Diamond Awards for both client and candidate satisfaction. This coveted distinction recognizes firms that have demonstrated industry-leading service excellence for 15 consecutive years and was earned by less than 0.1% of all firms in North America. This is the second consecutive year the firm has earned this high mark.

ClearlyRated’s Best of Staffing Awards are the only program in the U.S. and Canada that recognizes staffing firms for superior service, based exclusively on validated ratings. According to ClearlyRated, clients of winning agencies are 50% more likely to be completely satisfied, and placed talent are 60% more likely to report exceptional service, compared to those working with non-winning agencies.

Rx relief’s Net Promoter Score® from clients and placed talent significantly exceeded the staffing industry average. As the only staffing firm dedicated to pharmacy staffing in the U.S. and Canada to earn ClearlyRated’s Best of Staffing 15-Year Diamond Awards for Client and Talent satisfaction, Rx relief, continues to stand in a class of its own through its dedication to delivering world-class service.

“Being recognized for 15 consecutive years reflects the trust our clients and candidates place in us and the deep pride our team takes in every pharmacy placement,” said Marty Hancock, Senior Vice President of Rx relief. “This milestone validates the personalized service, specialized expertise, and unwavering integrity that define our approach to pharmacy staffing. Our long-standing reputation for excellence is built on a foundation of care—for the clients we support, the professionals we place, and the team that makes it all possible.”

About Rx relief
A division of PrideStaff, Rx relief is a Joint Commission Certified and GSA-approved pharmacy placement firm providing temporary and full-time pharmacy professionals for all pharmacy practice settings. The parent company was founded in the 1970s as 100% company-owned units and began staffing franchising in 1995. They operate offices in North America to serve thousands of clients. With 40-plus years in the staffing business, headquartered in Central California, all PrideStaff brands offer the resources and expertise of a national firm, with the spirit, dedication, and personal service of smaller, entrepreneurial firms. For more information on Rx relief services, visit our website.

PrideStaff and Rx relief’s shared Mission: Consistently provide client experiences focused on what they value most.

About ClearlyRated
ClearlyRated is the leading CX platform designed specifically for professional services firms. They help firms leverage the Net Promoter® Score survey methodology to gain deep insights, identify strengths and weaknesses, and build brand reputation through verified service ratings. Learn more on their website.

About Best of Staffing®
ClearlyRated’s Best of Staffing® Award is the only program in the U.S. and Canada that recognizes staffing agencies based entirely on ratings from clients, candidates, and internal employees. Award winners are featured by city and area of expertise on ClearlyRated.com, helping service buyers find the highest-rated firms through validated testimonials and performance scores.

View original content to download multimedia:https://www.prnewswire.com/news-releases/rx-relief-earns-clearlyrateds-2026-best-of-staffing-client-and-talent-15-year-diamond-awards-for-service-excellence-302678151.html

SOURCE PrideStaff

The post Rx relief Earns ClearlyRated’s 2026 Best Of Staffing® Client and Talent 15-Year Diamond Awards for Service Excellence appeared first on The Malaysian Reserve.

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PR Newswire

Insurance Relief Wins ClearlyRated’s 2026 Best of Staffing® Client 15-Year Diamond and Talent 10-Year Platinum Awards for Service Excellence

3 weeks ago

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FRESNO, Calif., Feb. 3, 2026 /PRNewswire/ — Insurance Relief, a premier specialized staffing agency within The PrideStaff Companies®, is proud to announce it has earned the coveted ClearlyRated’s 2026 Best of Staffing® Client 15-Year Diamond Award and Talent 10-Year Platinum Award. These prestigious honors represent the highest levels of long-term service excellence in the staffing industry and are determined entirely by client and candidate satisfaction ratings.

Showcasing the commitment to delivering world-class experience, the 15-Year Diamond Award honors firms that have earned ClearlyRated’s Client satisfaction award for 15 consecutive years, while the Talent 10-Year Platinum Award is reserved for firms that have earned its candidate satisfaction award for a decade straight.

ClearlyRated’s Best of Staffing® Award winners have proven to be industry leaders in service quality, as clients of winning agencies are 50% more likely to be completely satisfied, while candidates are 60% more likely to report a positive experience compared to those working with non-winning firms.

In 2026, Insurance Relief received satisfaction scores from its clients and placed job candidates that significantly outpaced industry averages, highlighting its unwavering commitment to delivering exceptional service. In an industry where consistency is the ultimate challenge, Insurance Relief has demonstrated a level of reliability that places it among the top performers in North America.

“To be recognized year after year by both our clients and candidates is incredibly meaningful, because it validates the deep relationships we build and the high standards we set,” said Kade Houston, Vice President of Insurance Relief. “Our consistency in earning top satisfaction scores over more than a decade is nothing short of remarkable, and it speaks to the integrity, expertise, and relentless commitment to service excellence that our team brings to every partnership. We’re truly proud of this milestone.”

About Insurance Relief
A division of PrideStaff, Insurance Relief specializes in recruiting top candidates for companies within the insurance industry. The parent company was founded in the 1970s as 100% company-owned units and began franchising in 1995. They operate offices in North America to serve thousands of clients. With 45-plus years in the staffing business, headquartered in Central California, all PrideStaff brands offer the resources and expertise of a national firm with the spirit, dedication, and personal service of smaller, entrepreneurial firms. For more information on Insurance Relief services, visit our website.

PrideStaff and Insurance Relief’s shared mission: Consistently provide client experiences focused on what they value most.

View original content to download multimedia:https://www.prnewswire.com/news-releases/insurance-relief-wins-clearlyrateds-2026-best-of-staffing-client-15-year-diamond-and-talent-10-year-platinum-awards-for-service-excellence-302678166.html

SOURCE PrideStaff

The post Insurance Relief Wins ClearlyRated’s 2026 Best of Staffing® Client 15-Year Diamond and Talent 10-Year Platinum Awards for Service Excellence appeared first on The Malaysian Reserve.

3 weeks ago 0 comments

PR Newswire

G.A. Rogers & Associates Wins ClearlyRated’s 2026 Best of Staffing® Client and Talent 5-Year Gold Awards for Service Excellence

3 weeks ago

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FRESNO, Calif., Feb. 3, 2026 /PRNewswire/ — G.A. Rogers & Associates, a leading executive and professional search firm within The PrideStaff Companies^®, is proud to announce its recognition as a winner of ClearlyRated’s 2026 Best of Staffing^® Client and Talent 5-Year Gold Awards. These prestigious honors are awarded exclusively to recruiting firms that have maintained superior service scores for five or more consecutive years, reflecting the firm’s unwavering commitment to creating exceptional experiences for both clients and candidates.

ClearlyRated’s Best of Staffing Awards are the only program in the U.S. and Canada that recognizes staffing agencies for service excellence based solely on ratings provided by clients and placed talent. According to ClearlyRated, clients of winning agencies are 50% more likely to be completely satisfied, while candidates are 60% more likely to report a positive experience compared to those working with non-winning firms.

In an industry where precision is everything, G.A. Rogers & Associates has consistently outperformed the industry in service delivery. In 2026, G.A. Rogers & Associates received satisfaction scores from their clients and placed candidates, resulting in scores 1.6 times the industry average and a Net Promoter Score^® more than 2.5 times the industry average, reflecting the firm’s sustained excellence in matching growing organizations with high-value professionals.

“Our success is rooted in Our Mission to ‘Consistently provide client experiences focused on what they value most,’” said Tammi Heaton, Co-CEO of PrideStaff. “This award is a powerful testament to our team’s dedication, the strong partnerships we’ve built, and the client-first culture that drives everything we do. We’re proud to continue raising the bar for executive recruiting by delivering high-value experiences year after year.”

About G.A. Rogers & Associates
A division of PrideStaff, G.A. Rogers & Associates specializes in executive and professional recruiting. The parent company was founded in the 1970s as 100% company-owned units and began franchising in 1995. They operate offices in North America to serve thousands of clients. With 45-plus years in the staffing business, headquartered in Central California, all PrideStaff brands offer the resources and expertise of a national firm, with the spirit, dedication, and personal service of smaller, entrepreneurial firms. For more information on G.A. Rogers & Associates’ services, visit our website.

About ClearlyRated
ClearlyRated is the leading CX platform designed specifically for professional services firms. They help organizations leverage the Net Promoter^® Score survey methodology to gain deep insights, identify strengths and weaknesses, and build brand reputation through verified service ratings. Learn more on their website.

View original content to download multimedia:https://www.prnewswire.com/news-releases/ga-rogers–associates-wins-clearlyrateds-2026-best-of-staffing-client-and-talent-5-year-gold-awards-for-service-excellence-302678161.html

SOURCE PrideStaff

The post G.A. Rogers & Associates Wins ClearlyRated’s 2026 Best of Staffing® Client and Talent 5-Year Gold Awards for Service Excellence appeared first on The Malaysian Reserve.

3 weeks ago 0 comments

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