World economy must be more inclusive, says PM |
- World economy must be more inclusive, says PM
- Govt releases bus crash report
- Rosmah calls for more nurseries in offices
- Water levels in 20 dams falling
- Kuok tops 'Malaysia's Richest 40' list
- 3 claim trial to RM3m heist
| World economy must be more inclusive, says PM Posted: 20 Feb 2014 08:01 AM PST 21 February 2014| last updated at 12:02AM THE world economy needs to be realigned to open up opportunities and provide lasting prosperity, said Prime Minister Datuk Seri Najib Razak. He said the world economy must be more inclusive and growth should not only be sustainable, but also empowered with employment and profits. Najib, who is also finance minister, said the challenge faced by the global financial services industry, which is largely responsible for shaping a country's development, went beyond making markets safer or increasing participation. "In the face of growing inequality and a damaging focus on short-term results over long-term interests, we must align the world economy to open up opportunity and provide lasting prosperity. "It is a challenge not only for emerging markets but also for advanced economies." He said this at a dinner in conjunction with the International Organisation of Securities Commissions (IOSCO) board meeting here, hosted by the Securities Commission Malaysia, yesterday. Members of the IOSCO regulate over 95 per cent of the world's capital markets worth about US$127 trillion (RM394 trillion). More than 100 representatives of IOSCO from 30 jurisdictions are here for the three-day board meeting to discuss global issues affecting capital markets. Najib said, in realigning the world economy, markets could and must play their part. "As enablers for the allocation of capital and as a primary platform for the creation and transfer of wealth, markets are a powerful tool to promote sustainable and inclusive growth in the real economy. "We must continue to facilitate access to financing for businesses, particularly start-ups, small- and medium-scale enterprises and other innovative ventures that can be a catalyst for growth." He added that Malaysia's financial infrastructure had played an important part in the country's development and would continue to do so as it joins the ranks of high-income nations in the next few years.  Prime Minister Datuk Seri Najib Razak is greeted by Howard Wetson, chairman of the Ontario Securities Commission and deputy chairman of the International Organisation of Securities Commissions board, at a dinner held in conjunction with the IOSCO board meeting in Kuala Lumpur. On the right is Datuk Ranjit Ajit Singh, chairman of the Securities Commission of Malaysia. With them is Mohamad Abdul Malik Al-Sheikh, head of Capital Markets Authority of Saudi Arabia. Bernama pic  |
| Govt releases bus crash report Posted: 20 Feb 2014 08:01 AM PST 21 February 2014| last updated at 11:34PM SPEEDING has been identified as the main cause which led to the bus crash at Genting Highlands which killed 37 people in August last year. The independent probe team which investigated the crash concluded that the brake system, safety barrier, emergency escape ramp, vehicle design, licensing safety practise of Genting Highland Transport Sdn Bhd (the company which operated the bus) and attitude towards road safety in Malaysia were also contributing factors which led to the worst accident in the country's history. Acting Transport Minister Datuk Seri Hishammuddin Hussein, who announced the findings of the special independent panel yesterday, said the ministry would take note of the report and implement 51 recommendations to avoid such incident from recurring. "I hope the report can contribute towards making our roads much safer," he said. The independent advisory panel was established by the Transport Ministry to evaluate and review investigation reports by various agencies including the Malaysian Institute of Road Safety Research (MIROS), Road Transport Department and Puspakom Sdn Bhd. The bus crash occurred at Km3.6, Genting Highlands, Kuala Lumpur Road on Aug 21 last year. 37 of its passengers, including the driver were killed in the accident. In the report, recommendations on various aspects such as the road conditions, vehicle and engine health, operations, emergency response and the public's role were covered. The panel identified issues and implementation weaknesses of laws including institutional framework that needed to be thoroughly reviewed to enhance road safety and prevent similar accidents. Hishammuddin said he had met with all the stakeholders involved in the accident and reprimanded those who failed to adhere to the road safety guidelines based on the panel's findings. "We do not wish to point fingers to anyone. We just want to better ourselves and get everyone on the same page so that we can come up with solutions. National Institute of Occupational Safety and Health and the independent panel chairman Tan Sri Lee Lam Thye said the National Transportation Safety Board should be expanded to cover land, air and water transportation issues and incidences. He said the government should consider making it a permanent body under the ministry. "The advantage of the body would be the consolidation of all investigations, findings, recommendations and the monitoring of the implementations under one agency. "The reports are detailed and comprehensive, it was conducted in a very transparent manner with the intention of getting to know the cause of the incident. Lee said other ministries should also emulate such efforts to ensure transparency and accountability. "Reports that are of public interest should be made public because the people have a right to know about matters which concern their safety." The report is available at the ministry's and MIROS websites while copies can also be obtained at the ministry. In a related development, the ministry is also expected to make public the Kudat airplane crash report. In the Oct 10 incident, a co-pilot and a passenger were killed while four others were injured after a Twin Otter aircraft belonging to MASWings crashed while attempting to land at the Kudat Airport in Sabah.  Acting Transport Minister Datuk Seri Hishammuddin Hussein holding the report on the bus crash at Genting Highlands which killed 37 people in August last year. Pic by Yazit Razali |
| Rosmah calls for more nurseries in offices Posted: 20 Feb 2014 08:01 AM PST 21 February 2014| last updated at 11:42PM "However, due to shortage of nurseries, parents have no choice but to send their children to the homes of babysitters. "Studies reveal that children's future depends on the opportunities for early education received before the age of 4. But they have to go to the homes of the childminders, although most of them don't have basic training in babysitting," said Datin Seri Rosmah Mansor. In her speech at the opening of the 32nd Puspanita delegates' general meeting yesterday, Rosmah said the setting up of nurseries in workplaces, especially in government agencies, would benefit parents and children. "Parents can focus better on work without worrying about their children, thus, raising their productivity," said the national Puspanita patron. Rosmah said media reports on emergency cases in nurseries should create awareness about the need to set up nurseries in the work place so that it would be easier for parents to monitor their children. Quoting reports by the Welfare Department, Rosmah said only 90 nurseries were provided by government agencies compared with more than 400 government agencies in the country. Present were Chief Secretary to the Government Tan Sri Dr Ali Hamsa, who is also Puspanita adviser, and Puspa-nita president Puan Sri Rohani Abdullah. Bernama  Datin Seri Rosmah Mansor, who is national Puspanita patron, greeting delegates at the 32nd Puspanita delegates' general meeting in Putrajaya yesterday. Related Articles |
| Water levels in 20 dams falling Posted: 20 Feb 2014 08:01 AM PST A WATER crisis is looming after the prolonged dry spell caused water levels at dams and rivers to drop, with Selangor and Johor being put on alert. The Department of Irrigation and Drainage (DID) yesterday revealed that, following the dry spell, water levels at 20 dams and 21 rivers nationwide had fallen between 0.3m and 1m since last Saturday. "Although it is unlikely there will be rainfall in the next few months, the water supply from the dams could last up to two to three months. "We have not reached the critical phase yet," DID Water Resources and Hydrology division director Datuk Hanapi Mohamad Noor told the New Straits Times. He said the country would plunge into the critical phase when water levels at the dams could last for only one month. The Energy, Green Technology and Water Ministry yesterday said Selangor recorded the worst drop in water supply because of the high demand for treated water, compounded by a drop in water levels at Sungai Selangor and the Klang Gate dam and closure of two treatment plants in Batu 11, Cheras and Bukit Tampoi, Kuala Langat, because of high levels of ammonia. "As of yesterday, the active storage capacity at Sungai Selangor and the Klang Gates dam were recorded at 52.02 per cent and 55.79 per cent, respectively," it said, adding that the authorities were monitoring the situation. It said the water from the dams had to be released to ensure an optimum water level in the rivers, especially Sungai Selangor, which supplies 60 per cent of water for Selangor, Kuala Lumpur and Putrajaya. The dry spell, it said, had resulted in a higher content of ammonia for water treatment at Sungai Langat. "The ministry has informed the National Water Services Commission (Span) to consider a water rationing exercise in affected areas if Syabas puts in a request. "In Johor, Syarikat Air Johor Holdings (SAJH) has been given approval by Span to conduct a water-rationing exercise in Kluang district," it said, adding that the exercise began on Tuesday after the water level at Sungai Sembrong Kiri dropped, affecting the supply from the Sembrong Timur water treatment plant. "On Wednesday, the Sembrong Timur water treatment plant saw a drop in supply from 31 million litres per day to 19 million litres per day. "The water-rationing exercise affects 51,036 households in Kluang." The ministry said although water levels in many dams had dropped, the country's water situation was under control and all water operators were told to obtain approval from Span, as stipulated by the law, if they sought to carry out water-rationing exercises. "They were also told to include their contingency plans, which include management strategies, water rationing schedules, communication plans and other mitigation measures, such as deployment of water tankers and static water tanks." In Seremban, Menteri Besar Datuk Seri Mohamad Hasan said supply was restored to 80 per cent of the affected 1,437 consumer households here yesterday, with the remaining 20 per cent in Sendayan to receive water supply today. "We reactivated the old pipes from the Kuala Sawah water treatment plant to supply 22.71 million litres per day to areas in Rasah, Mambau and parts of Seremban and Sendayan," he said, adding that the state government had approved RM2.6 million to build pipes connecting the Spring Hill water treatment plant to supply an additional 11 million litres per day of water to areas in Sendayan. He said the state government would also install pipes to channel water from the Triang dam to the Ngoi-Ngoi water treatment plant to provide an additional 136 million litres of water per day. "These two contingency plans are expected to be completed in three weeks." In Johor Baru, state Works and Rural and Regional Development Committee chairman Datuk Hasni Mohamad said SAJ Holdings Sdn Bhd , the state's water supplier, was ready to conduct cloud seeding operation. "SAJ is ready to do cloud seeding. They will carry it out only if the condition worsens, as the cost of a cloud-seeding operation could come up to RM300,000," Hasni said yesterday. However, he said, the water situation in the state was manageable and there was no need for cloud seeding for the time being. 
 Hazriq Haikal, 11, showing fish that died after the water in Sungai Sembrong in Kampung Seri Cahaya, Kluang, dried up, leaving just a small pool behind. Pic by Roslan Khamis |
| Kuok tops 'Malaysia's Richest 40' list Posted: 20 Feb 2014 08:01 AM PST KUALA LUMPUR: TAN Sri Robert Kuok is still Malaysia's richest man, well ahead of his nearest "rival" in Malaysian Business magazine's annual "Malaysia's Richest 40" list. In its Feb 16 issue, the magazine listed Kuok's fortune at RM54.48 billion, up from last year's RM46.1 billion. The Hong Kong-based tycoon's assets make up just over 25 per cent of the entire fortune of the 40 in the list which is RM217.82 billion, an increase of 11.73 per cent from last year's RM194.86 billion. When the magazine first published the country's 40 richest individuals in 2002, their combined assets stood at RM41.7 billion and Kuok was on top of the list. Tan Sri T. Ananda Krishnan remains in the second spot with RM33.19 billion, an increase of 0.88 per cent from last year's RM32.9 billion. Public Bank founder and chairman Tan Sri Teh Hong Piow is third, a position he has held for the past four years, with assets worth RM18.07 billion. Fourth on the list is Tan Sri Quek Leng Chan whose wealth, through his flagship Hong Leong Group and Guoco Group, is valued at RM14.11 billion. In the fifth spot is Tan Sri Lee Shin Cheng of IOI Group, who switched places with Tan Sri Syed Mokhtar Albukhary who fell to the sixth spot. Lee's wealth is valued at RM13.12 billion, up from RM10.56 billion a year ago. Syed Mokhtar's assets increased by 4.43 per cent to RM11.07 billion from RM10.6 billion last year. Genting Group's Tan Sri Lim Kok Thay and his mother, Puan Sri Lee Kim Hua, maintained their seventh and eighth positions, respectively. Lim's wealth rose 16.18 per cent to RM9.43 billion while Lee's increased by 3.2 per cent to RM7.47 billion. Datuk Mokhzani Mahathir, who was in the 13th spot last year with RM2.63 billion, climbed to the ninth spot with assets worth RM4.22 billion. Rounding up the top 10 list is prominent banker Tan Sri Azman Hashim, via Arab-Malaysian Corporation, with assets worth RM4.11 billion. The magazine noted that since 2002, 81 tycoons had joined the "Malaysia's Richest 40" list and out of that, 15 had managed to remain on it. It said the steady increase of their wealth was attributed to share market performance and price inflation. It also said there were 33 billionaires this year, two more than last year and 29 of the 40 saw their assets increasing from last year. Of that, 20 registered growth of more than 10 per cent. It said there were two returnees to the list. Datuk Tony Tiah of TA Enterprise ranked 38th with assets worth RM589.14 million, while Tan Sri Rozali Ismail of Puncak Niaga Holdings rounded up the top 40 list with RM543.74 million. Others in the list were Tan Sri Tiong Hiew King of Rimbunan Hijau (RM3.79 billion), Ong Beng Seng of Hotel Properties Ltd (RM3.53 billion), Tan Sri Yeoh Tiong Lay of YTL Group (RM3.22 billion), Tan Sri Lau Cho Kun of Hap Seng Consolidated (RM3.12 billion), Tan Sri Shahril Shamsuddin (RM2.506 billion) and Datuk Shahriman Shamsuddin (RM2.46 billion) of Sapura Group. Also in the list are Tan Sri Jeffrey Cheah Fook Ling of Sunway Group (RM2.15 billion), Datuk Lee Yeow Chor (RM2.03 billion) and Lee Yeow Seng (RM2 billion) of IOI Group, and Tan Sri Vincent Tan of Berjaya Group (RM1.9 billion). Their wealth was assessed based on the value of their stakes in listed companies as of Jan 18.  (from left) Tan Sri Syed Mokhtar Albukhary and Tan Sri Teh Hong Piow |
| Posted: 20 Feb 2014 08:01 AM PST 21 February 2014| last updated at 11:49PM Lorry attendant S. Segar, 41, welder P. Balasegaran, 36, and labour agent Sumon Miah, 41, a Bangladesh national, pleaded not guilty when the charge was read out to them before Sessions Court judge Tasnim Abu Bakar. They were jointly charged with several others still at large, for committing armed robbery on a van bearing registration number WTU 4207. The trio allegedly committed the offence in front of the Petronas station retail outlet in Ijok, Bestari Jaya, Kuala Selangor about 9.50am on Jan 28. The van, belonging to Armour Security Systems (M) Sdn Bhd, was carrying RM3.36 million while the firearm was earlier seized from a security guard. Bernama  (From left) Sumon Miah, P. Balasegaran and S. Segar being led out of the Klang Sessions Court after the hearing yesterday. Pic by Rosdan Wahid Related Articles |
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