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| EPMB to set up EV manufacturing facility in Melaka |
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Posted by: superadmin - 10-21-2023, 01:43 PM - Forum: Business. Economy and Investment
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PETALING JAYA: EP Manufacturing Bhd (EPMB) plans to establish an automotive manufacturing facility in Melaka to serve as a production hub for energy-efficient vehicles (EEVs) and electric vehicles (EVs) in Malaysia.
In a statement today, the group said the facility, with an investment of over RM100 million, will be developed in several phases at the Hicom Pegoh Industrial Park in Alor Gajah, Melaka.
According to EPMB, the project will create about 1,000 new jobs in Melaka and the facility’s first phase will have a capacity to produce 30,000 vehicles a year.
EPMB is engaged in the manufacturing of metal-based and plastic-based automotive components, and the distribution of automotive parts.
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| Focus on manufacturing led to neglect of agricultural sector, says economist |
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Posted by: superadmin - 10-20-2023, 11:35 AM - Forum: Business. Economy and Investment
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PETALING JAYA: The recent, although minor, threat to food security is a result of the previous administration’s “enthusiasm” to transform Malaysia into a “manufacturing nation”, says an economist.
Madeline Berma of Institut Masa Depan Malaysia (Masa) said this shift of focus has resulted in the marginalisation of agriculture, now starkly apparent as the majority of food resources are imported from abroad.
It was recently reported that the annual value of food imports into the country has surged to RM62 billion, up from RM48 billion the year before, because of rising demand and foreign exchange considerations.
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| A PAS congregation on the crest of political power |
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Posted by: superadmin - 10-20-2023, 10:29 AM - Forum: Politics
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SHAH ALAM – Islamist party PAS is heading to its 69th muktamar (gathering) here in the strongest position it has ever been, with four states under its control while having a promising cadre and sturdy ulama leadership.
PAS was formed in 1951 as a splinter from the Malay nationalist party Umno at Butterworth, Penang – a state where it has made huge inroads in the past decade with seven state seats. This is in addition not to the 43 parliamentary seats it holds out of the total 222 in the Dewan Rakyat.
Incidentally, the party was formed in the house of fifth prime minister Tun Abdullah Ahmad Badawi's grandfather, himself a religious scholar and former Umno president.
As the 1,800 delegates gather, there will be speeches and war cries in support of the Palestinians. There are also undercurrents wading through the party, which has close to one million members.
As this year's party biennial election has become a muted affair after PAS' central committee agreed to have no contests for the top five posts, it means that longest serving PAS president Datuk Seri Abdul Hadi Awang, a hardline cleric, will be elected unopposed.
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| Lynas announces planned shutdown of Malaysian operations |
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Posted by: superadmin - 10-20-2023, 10:24 AM - Forum: Business. Economy and Investment
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PETALING JAYA: Australian rare earths producer Lynas has announced that it plans to shut down all its operations in Malaysia, except its mixed rare earth carbonate processing plant, from mid-November.
“During the shutdown, key personnel from the Malaysian cracking and leaching plant will be deployed to assist with the start-up process in Kalgoorlie, Australia,” it said in its latest quarterly report, released today.
In April, Lynas had said it planned to either temporarily shut down its Malaysian operations or have a period of very low production if licence conditions prohibiting the import and processing of lanthanide concentrate remained.
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| Stellantis sells 3 factories, pursues China withdrawal |
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Posted by: superadmin - 10-20-2023, 10:22 AM - Forum: Business, Economy and Investment
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PARIS: Global carmaker Stellantis said Thursday it has sold three factories it held jointly with Dongfeng Motors to the Chinese manufacturer as it continues its withdrawal from the country.
The joint venture Dongfeng Peugeot Citroen Automobile (DPCA) operated factories in Wuhan, Chengdu and Xiangyang.
Dongfeng will buy these factories “to pursue the manufacturing of Peugeot and Citroen models in addition to their own models and managing the Peugeot and Citroen brands sales in China,” Stellantis said in a statement, confirming information reported by financial news agency Bloomberg.
Bloomberg estimated the value of the transaction at 1.7 billion yuan (US$234 million).
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| Hayley Westenra - Both Sides Now |
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Posted by: superadmin - 10-20-2023, 07:26 AM - Forum: English Songs
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Rows and flows of angel hair
And ice cream castles in the air
And feather canyons everywhere
I've looked at clouds that way
But now they only block the sun
They rain and snow on everyone
So many things I would have done
Clouds got in my way
I've looked at clouds from both sides now
From up and down, and still somehow
It's cloud illusions I recall
I really don't know clouds at all
Moons and Junes and Ferris wheels
The dizzy dancing way that you feel
As every fairy tale comes real
I've looked at love that way
But now it's just another show
And you leave 'em laughing when you go
And if you care, don't let them know
Don't give yourself away
I've looked at love from both sides now
From give and take, and still somehow
It's love's illusions I recall
I really don't know love
Really don't know love at all
Tears and fears and feeling proud
To say "I love you" right out loud
Dreams and schemes and circus crowds
I've looked at life that way
Oh but now old friends they're acting strange
And they shake their heads
And they tell me that I've changed
Well something's lost but something's gained
In living every day
I've looked at life from both sides now
From win and lose and still somehow
It's life's illusions I recall
I really don't know life at all
It's life's illusions I recall
I really don't know life
I really don't know life at all
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| China launches Global AI Governance Initiative |
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Posted by: superadmin - 10-19-2023, 02:38 PM - Forum: AI - Artificial Intelligence
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China launches Global AI Governance Initiative, offering an open approach in contrast to US blockade
China on Wednesday launched the Global Artificial Intelligence (AI) Governance Initiative, offering an open, inclusive and fair approach for the development, security and governance of emerging artificial intelligence technologies and services, in stark contrast to the US' restrictions and blockade aimed at preserving its hegemony.
Even as China stressed fairness and non-discrimination in AI development so as to benefit all countries and regions, the US intensified unilateral restrictions over normal global cooperation in AI and other technologies. Western countries have also been seeking to set rules for AI, which experts say is mostly aimed at protecting their own interests.
The Global AI Governance Initiative, announced at the third Belt and Road Forum for International Cooperation (BRF) in Beijing, represents another Chinese proposed solution for global AI governance, which has brought both tremendous opportunities as well as challenges and risks, underscoring China's approach of openness and inclusiveness in global cooperation and development, experts said.
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| Missed opportunity for transport in Budget 2024 |
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Posted by: superadmin - 10-19-2023, 08:25 AM - Forum: Business. Economy and Investment
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Budget 2024 missed a beat, particularly from the viewpoint of transport.
Funnelling taxpayers’ money to support highway concession firms always sparks vital financial and economic debates.
In Budget 2024, the emphasis was on using funds in the public coffers to help finance an extension to the North-South Highway (PLUS) running from Sedenak to Simpang Renggam.
Budget allocation for private highway
The allocation channels nearly RM1 billion to UEM, a venture between Khazanah and EPF, to finance the construction of just one additional lane along the mentioned stretch.
That raises eyebrows. Why do road users still need to pay toll when public money is used to back a private highway?
- Missed alternatives: Every ringgit backing highway operators is a potential investment missed elsewhere in the area of transport. Perhaps the money could have been put to better use by investing in Keretapi Tanah Melayu Berhad (KTMB) rail systems or other forms of public transit.
- A double whammy for Malaysians: Citizens are essentially paying twice – first in the form of taxes to fund the expansion, and, on top of that, toll fees for use of the highway.
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| BRI brings people together and makes common efforts to build world a better place |
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Posted by: superadmin - 10-18-2023, 10:38 AM - Forum: Business, Economy and Investment
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BRI brings people together, builds trust and makes common efforts to build world a better place: former Kyrgyz PM
![[Image: 88198463-6d65-41fe-aefb-8d0b4182b85f.jpeg]](https://www.globaltimes.cn/Portals/0/attachment/2023/2023-05-16/88198463-6d65-41fe-aefb-8d0b4182b85f.jpeg)
The Belt and Road Initiative (BRI) is expected to bring people together, build trust and make common efforts to make our world a better place to live for everyone, restoring the principles of the old great Silk Road and bringing "a real Eurasian revolution" over the past 10 years, Djoomart Otorbaev, former prime minister of Kyrgyzstan, told the Global Times in an exclusive interview on the sidelines of the third Belt and Road Forum for International Cooperation in Beijing.
During the first 10 years, the BRI became a real global initiative. Ten years ago, when Chinese President Xi Jinping first proposed the initiative during a trip in Central Asia, we were expecting it would restore the principles of the old Great Silk Road of trade between China and Europe when Central Asia was a center of civilization and an extremely developed part of the world at that time, as we were not landlocked but a land-connected area, Otorbaev said.
"Ten years ago, we were quite enthusiastic that we may consider to be returning to the good times - the old great Silk Road," he said, noting that a major phenomenon when it comes to achievements of the BRI is "a real Eurasian revolution."
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