Fast, factual wire coverage from across Malaysia and the region.
Malaysia's investment ministry is carefully evaluating mechanisms for an electric vehicle levy to fund nationwide charging infrastructure, balancing development needs against consumer affordability amid fiscal constraints.
Japan will reduce sales tax on food to just 1% starting April 2025 for two years, marking the first cut since the tax's 1989 introduction. PM Sanae Takaichi says the move addresses inflation pressures from Middle East tensions and currency weakness.
Japan's yen jumped to 158 against the US dollar on Thursday, triggering speculation of official intervention. The move comes as Prime Minister Sanae Takaichi proposes aggressive spending policies despite mounting fiscal pressures.
Malaysia's government guarantee to Tabung Haji depositors, valued at RM88 billion, will only be drawn upon should the pilgrimage board's 2018 recovery plan fall short, according to the Royal Commission of Inquiry report.
Malaysia's government will focus on raising incomes and tackling wage stagnation before broadening its tax base, Economy Minister Akmal Nasrullah said, pushing back against OECD recommendations to introduce consumption taxes and expand personal income tax collection.
Malaysia's Economy Ministry has projected RM58 billion in development expenditure for 2027, with 70 per cent dedicated to basic infrastructure. The proposal awaits Finance Ministry review ahead of Budget 2027 presentation in October.
Prime Minister Anwar Ibrahim has announced that Malaysia will begin preparing Budget 2027 next month, with parliamentary tabling scheduled for early October. The budget will prioritise tangible improvements in citizens' lives over raw economic metrics.
Malaysia faces potential monthly fuel subsidy costs of RM3.5 billion if crude oil prices stabilise at US$90 per barrel, though government revenue from petroleum sales helps offset the burden.
Prime Minister Anwar Ibrahim has defended Malaysia's fuel pricing strategy, noting that the government already allocates approximately RM40 billion yearly to subsidies and cannot reduce prices further without undermining national finances.
Prime Minister Anwar Ibrahim has warned that the Retirement Fund Incorporated's (KWAP) annual investment earnings of RM12.9 billion cannot meet Malaysia's annual pension bill of nearly RM45 billion, underlining structural pension system challenges.
Malaysia's parliament has approved the National Trust Fund Bill 2026, introducing statutory contributions, withdrawal discipline, and enhanced governance to strengthen the RM22.43 billion fund established in 1988.
Parliament has approved the KWAN Bill 2026, broadening Malaysia's approach to managing natural resource wealth. The move signals a strategic pivot toward sustainable intergenerational funding that extends beyond the country's traditional reliance on oil and gas revenues.
An investment strategy economist has advised Malaysia to establish a national petroleum reserve through careful, measured steps rather than ambitious large-scale projects, prioritising cost-effectiveness and fiscal sustainability over reserve size.
Malaysia's Deputy Finance Minister Liew Chin Tong says the government has no plans to revise its fiscal projections for Budget 2027 at present, despite elevated subsidy costs. The government will reassess once the budget is tabled in October.
Malaysia's parliament has endorsed a motion to channel RM14.5 billion in remaining proceeds from Malaysian Government Investment Issues to the Development Fund, addressing fiscal deficit financing and infrastructure investment.
Malaysia has introduced the National Trust Fund Bill 2026 in Parliament, establishing a long-term financial reserve funded through government contributions, Petronas dividends, and resource export duties to benefit current and future generations.
Malaysia's Ministry of Finance projects the federal government's statutory debt will remain below the 65% GDP ceiling through 2026, despite geopolitical pressures affecting energy supplies and essential goods costs.
Prime Minister Anwar Ibrahim has drawn a line on federal spending, asserting that Putrajaya cannot automatically shoulder financial burdens arising from state-level policy choices.
Prime Minister Anwar Ibrahim has signalled that the federal government will not automatically absorb extra costs arising from state government decisions or project escalations, requiring fresh negotiations.
Japan's Finance Minister Satsuki Katayama warned on Friday that Tokyo remains prepared to intervene in currency markets, keeping the yen supported after it recovered from 40-year lows. The government faces mounting economic pressure from persistent currency weakness.
Malaysia has commenced nationwide engagement sessions for Budget 2027, gathering input from multiple ministries and stakeholders. Finance Minister Datuk Seri Amir Hamzah Azizan says the budget, due in Parliament in October, remains grounded in the MADANI Economy framework.
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Prime Minister Datuk Seri Anwar Ibrahim has made clear his administration will not announce fresh development projects or policy pledges tied to electoral cycles, signalling fiscal restraint.