Still room for talks with US on 24% tariff, says Bank Negara

 

Bank Negara governor Abdul Rasheed Ghaffour agreed that US tariff exemption for Malaysian semiconductor exports was a relief (Bernama pic)

KUALA LUMPUR: 

Malaysia still has room to negotiate with the US regarding the imposition of a 24% tariff on Malaysian goods, says Bank Negara Malaysia governor, Abdul Rasheed Ghaffour.

He said the central bank is awaiting further details from the US about the tariff; the full impact could only be assessed once negotiations are completed and the details are finalised.

“There is still room for negotiation, and we do not know yet the full extent, timing, or magnitude of the tariff, nor the scope and which products will be affected by the tariff.

“We need to closely examine the impact on inflation. At present, our inflation forecast remains between 2% and 3.5%,” he told Bernama during preparation for a meeting of Asean finance ministers and central bank governors.

When asked if the exemption of the semiconductor industry from the US tariffs was a relief for Malaysia, Rasheed simply replied, “Yes.”

US president Donald Trump announced on April 3 that the US would impose a basic 10% tariff on all countries and higher duties involving several countries, including a 24% tariff on Malaysia.

US customs began collecting the 10% across-the-board tariff on Saturday, with the higher levies on some countries, including Malaysia, to be imposed on April 9. - FMT

Speed kills: The tragic pre-Raya Menora Tunnel accident rams home the point

 

NEWS and a dash cam video of an accident that claimed the lives of a two-year-old child and a heavily pregnant mother has gone viral, eliciting rage, sadness and disbelief in equal measures.

The accident which occurred at KM264 of the North-South Expressway (southbound) near the Menora Tunnel on March 30 has outraged citizens as the video footage shows a Mitsubishi Expander running over the victim who was sprawled on the road.

Apparently, the victims were travelling in a Perodua Bezza that had skidded on the road resulting in the driver, the pregnant woman’s husband, losing control and landing in a ditch.

But as the shocking video shows, a speeding Mitsubishi Xpander did not slow down and just ran over the body of the pregnant woman.

One of the many posts on the incident was by @btsstuffs who queried why other vehicles ahead of the Xpander were able to brake in time? The poster had some choice words for the driver whom he described as “having zero empathy”.

Many lamented that this accident was a consequence of local mentality whereby the 110km/h speed limit on highways is deemed to be too slow. As pointed out, there is a risk that any faster, one is unable to brake in time for any emergency.

Many vented their fury as they noted the Xpander did not slow down at the scene of the accident with some hoping the long arm of the law hauls the driver up for this appalling incident.

Some expressed disgust that the driver of the Xpander chose to run over the victim than risk damaging his/her vehicle from rear-ending the halted Toyota Hilux.

One netizen counselled that if he were in a similar scenario, he could – if it was safe to do so – block the road off to avoid any victims on the road from getting run over.

One pointed out the oil slick on the road which played a role, suggesting this was a dirty tactic employed by tow truck operators to cause an accident where they can then pick up the pieces.

Another suggested that all tow trucks be under the purview of the relevant authorities or the highway concessionaire.

It is a harrowing incident which has led to loss of life. While a lot of the details are open to conjecture, one thing is certain – speeding kills.

Police are appealing for witnesses and those with relevant dash cam footage to come forward to aid investigations.

In the meantime, FocusM urges everyone to be vigilant and drive safe. –  Focus Malaysia

“PKR’s reform agenda: A promise unfulfilled amid party elections?”

 

AS PKR gears up for its internal elections in May 2025, the spotlight is once again on its leaders vying for key positions within the party.

The latest to throw her hat into the ring is Wanita PKR Chief and Education Minister Fadhlina Sidek, who has announced her candidacy for the Nibong Tebal division leader post.

In a heartfelt Facebook post, Fadhlina expressed gratitude to her constituents and party members, emphasising her commitment to unity, diversity, and strengthening PKR from within. Her bid follows a growing list of party figures stepping forward to contest various posts, all echoing a common refrain: upholding the democratic principles that PKR has long championed.

Yet, beneath the surface of this democratic fervour lies a nagging question – where are the reforms PKR promised?

For a party that rose to prominence on the back of the Reformasi movement and secured power in the 2018 and 2022 general elections with pledges to overhaul Malaysia’s political and institutional landscape, the slow pace of tangible change has left many wondering whether PKR is truly committed to its founding ideals or merely paying lip service to them while focusing on internal power struggles.

PKR’s origins are deeply tied to the call for justice and reform, sparked by the ousting and imprisonment of its founder, Datuk Seri Anwar Ibrahim, in 1998. The party positioned itself as a multiracial, progressive force, promising to dismantle corruption, enhance democratic institutions, and promote equality.

These ideals resonated with Malaysians, propelling PKR and its Pakatan Harapan coalition to a historic victory in 2018, ending decades of Barisan Nasional rule. When Anwar assumed the premiership in 2022, expectations soared that the reform agenda would finally take flight.

Fast forward to April 2025, and the narrative has shifted. While the upcoming party elections signal a commitment to internal democracy – a stark contrast to suggestions by some leaders earlier this year that top posts like president and deputy president might go uncontested – the rhetoric from candidates like Fadhlina and others centres more on unity and party strength than on the broader reforms PKR once vowed to deliver.

The absence of reform as a central talking point in these campaigns raises eyebrows, especially given the party’s track record in government.

Critics point to a litany of unfulfilled promises: judicial and electoral reforms remain incomplete, anti-corruption efforts have been criticised as selective, and economic inequalities persist despite pledges to address them.

The unity government, led by Anwar, has leaned heavily on coalition dynamics, often compromising with former rivals like UMNO, a party PKR once vilified for its undemocratic practices.

This pragmatic approach has fuelled perceptions that PKR’s reformist zeal has been sidelined in favour of political stability and survival.

Kazi Mahmood is a journalist based in Malaysia known for covering business, politics and technology across various publications.

The views expressed are solely of the author and do not necessarily reflect those of  MMKtT.

- Focus Malaysia.

EU wants QR payments like Southeast Asia, say social media users

 

SOUTHEAST Asia’s cross-border QR payment system enables seamless transactions across Indonesia, Malaysia, Thailand, Singapore and the Philippines, fostering cashless travel and reduced reliance on the US dollar.

Central banks connect systems like QRIS, DuitNow and PromptPay, benefiting both merchants and travellers. Indonesia leads in adoption, with QR payments tripling annually since 2019.

The initiative supports unbanked populations, lowers costs, and promotes regional economic integration, with potential expansion to global networks for bank transfers and digital currencies in the future.

Now, the European Union (EU) wants to be independent from relying on American services like Visa and Mastercard. However, the best alternative to these services could be the QR payment system. An X user added that the EU would be glad to have our QR system for that matter.

The EU yearns for ASEAN’s QR payment system. https://t.co/jofUUBHNYX

— yammi (@sighyam) April 5, 2025

Furthermore, for Southeast Asians, having QR payment methods is relatively easy, especially when travelling in ASEAN countries. From Indonesia to Thailand, from Malaysia to Cambodia, we’re all able to pay for things with ease.

This could be a good replacement for the EU, and it will most definitely reduce their reliance on American companies.

me right now struggling and having to always have cash on me lol

— yammi (@sighyam) April 5, 2025

Moreover, social media users say that QR payment methods in Malaysia are wholly owned by Bank Negara and are independent from Visa and Mastercard.

Users feel with such payment systems, Southeast Asian countries aren’t relying on foreign companies to make simple cash transactions happen.

Free from Visa and MC but part of CBDC. Leaping out of the frying pan into the fire 

— Mohd Saifullah Majid (@todd_58) April 5, 2025

One user made an interesting point: In Malaysia, PayNet – a subsidiary fully owned by Bank Negara Malaysia – handles the back end for all QR codes, online transactions, and debit card payments.

This setup keeps things free from Visa and Mastercard fees. It’s not just about ease of use; it’s a smart move to protect the country’s financial independence. 

FYI in Malaysia, all QR, online transactions and debit card payments’ back end are done by Pay Net, a wholly owned subsidiary of Bank Negara Malaysia, so free from Visa and MC charges.

It’s not just about convenience but to keep country’s financial sovereignty.

— FMN (@FMNafis00) April 5, 2025

- Focus Malaysia