Day: October 15, 2024

KUALA LUMPUR, The delivery of Malaysia Aviation Group’s (MAG) first A330neo aircraft, originally scheduled for September 2024, has been delayed and is now expected to take place by late November 2024. MAG, the parent company of Malaysia Airlines, said the delay was due to findings identified by Airbus during the flight line stage. ‘As a result of this delay, MAG regrets to inform that Malaysia Airlines’ planned inaugural A330neo flight to Melbourne on Nov 25, 2024, along with subsequent flights scheduled with the A330neo, will be impacted,’ it said in a statement today. MAG said the airline will revert to

KUALA LUMPUR, The East Coast Economic Region Development Council (ECERDC) has secured RM13.3 billion in realised investments for the region as of September, surpassing its 2024 target of RM10 billion. The investments will create over 8,700 job opportunities across industries, including steel manufacturing, petrochemicals, biomass products, and tourism, said ECERDC. ‘Under the East Coast Economic Region (ECER) Master Plan 2.0 (EMP 2.0) from 2018-2025, the council has secured RM44.4 billion in realised investments for ECER, representing 90 per cent of the RM49 billion target set for the plan’s completion. ‘These investments have generated over 69,000 job opportunities and created more

KUCHING, The Sarawak Multimedia Authority (SMA) has signed a memorandum of understanding (MoU) with Malaysia’s premier satellite solutions provider, MEASAT Global Bhd (MEASAT), to enhance Sarawak’s space industry development. The signing was witnessed by Sarawak’s Minister for Utility and Telecommunication Datuk Seri Julaihi Narawi today. Under the MoU, MEASAT will serve as a consultant to the Sarawak Space Industry and Satellite Committee (SISCOM) and offer industry expertise to shape policies, guidelines and the future of space and satellite industries in Sarawak. This will also include training and talent development, leveraging MEASAT’s more than 30 years of experience in satellite management

KUALA LUMPUR, The government has recovered a total of RM27.17 billion related to 1Malaysia Development Bhd (1MDB) as of Sept 30, 2024. Minister of Youth and Sports Hannah Yeoh stated that the funds deposited into the Asset Recovery Trust Account (AAMKA) now amount to RM3.04 billion. ‘The government will continue its efforts to recover all funds related to 1MDB that have been misappropriated, with the primary goal of maximising returns to settle 1MDB’s debts within the stipulated timeframe,’ she said in the Dewan Rakyat today. Yeoh made this statement on behalf of Deputy Finance Minister II Datuk Seri Amir Hamzah

KUALA LUMPUR, Astronautic Technology Sdn Bhd (ATSB), a company previously owned by the Minister of Finance (Incorporated), was not a profit-based company but was strategic for the development of satellites. Finance Minister II Datuk Seri Amir Hamzah Azizan said ATSB’s strategic objective had been achieved with the successful development and launch of the micro remote sensing satellite, TiungSAT-1, on Sept 26, 2000. He said ATSB had also developed a micro remote sensing satellite, RazakSAT, which was launched on July 14, 2009 to provide more specific and frequent data images. “Of the initial capital amount of RM112.58 million received from the

Finance Minister II Datuk Seri Amir Hamzah Azizan said that through strict and phased fiscal consolidation, the government managed to curb the increase in the amount of net loans while reducing debt growth. During the winding up of the Auditor General’s Report (LKAN) 3/2024 on the federal government’s Financial Statements in 2023 in Dewan Rakyat today, he explained that the amount of federal government loans in 2023 actually decreased to RM226.595 billion compared to RM230.949 billion in 2022. “The fiscal deficit has been consistently reduced. The amount of net loans is expected to continue to decrease, from RM99.4 billion in