https://www.scmp.com/rss/524262/feed The latest news and top stories on Amir Hamzah. He is Malaysia's Second Finance Minister, appointed in December 2023. He has an extensive corporate background, including serving as Chief Executive Officer of the Employees Provident Fund from 2021 to 2023 and President/CEO of Tenaga Nasional Berhad from 2019 to 2021. His career also includes leadership roles at Petronas, MISC Berhad, and a decade at Royal Dutch Shell. He holds a degree in Finance and Economics. His current responsibilities... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com Joseph Sipalan Joseph Sipalan The cost of Malaysia’s subsidies for fuel at the pump is projected to rise by more than four times in the short term, the government has said, as it rushed to assure the public the country’s energy supply will not be disrupted even as the Iran war chokes global oil and gas shipments. Fear of an energy crisis has engulfed much of Southeast Asia since the US and Israel launched air strikes on Iran on February 28, pushing Tehran to close the Strait of Hormuz – a vital waterway that handles about a... https://www.scmp.com/week-asia/economics/article/3346520/malaysias-fuel-subsidy-bill-rise-more-fourfold-iran-war-drags?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3346520/malaysias-fuel-subsidy-bill-rise-more-fourfold-iran-war-drags?utm_source=rss_feed Fri, 13 Mar 2026 10:30:26 +0000 Iman Muttaqin Yusof Iman Muttaqin Yusof Malaysia will tighten border enforcement to curb fuel smuggling and keep subsidised petrol prices unchanged as the widening US-Israeli war with Iran disrupts energy flows through the Strait of Hormuz and rattles global oil markets. The move comes amid concern that rising fuel prices abroad could make smuggling subsidised fuel out of Malaysia more profitable. “The most worrying aspect is that this conflict has an impact on the global economy, Asia and Malaysia,” Prime Minister Anwar Ibrahim said... https://www.scmp.com/week-asia/economics/article/3346245/malaysia-tightens-borders-fight-fuel-smuggling-amid-global-energy-crisis?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3346245/malaysia-tightens-borders-fight-fuel-smuggling-amid-global-energy-crisis?utm_source=rss_feed Wed, 11 Mar 2026 11:25:45 +0000 Joseph Sipalan,Hadi Azmi Joseph Sipalan,Hadi Azmi Malaysia’s government on Friday pledged to build more hospitals, upgrade airports, expand rural digital access and help youth boost their income, as Prime Minister Anwar Ibrahim unveiled a record budget with an eye on coming state elections. Anwar’s administration plans to spend a total of 470 billion ringgit (US$111.4 billion) next year – up nearly 4 per cent from this year – part of which will go towards upgrading rural infrastructure, helping start-ups and encouraging entrepreneurship among... https://www.scmp.com/week-asia/economics/article/3328565/new-schools-hospitals-and-help-youth-malaysia-unveils-record-budget?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3328565/new-schools-hospitals-and-help-youth-malaysia-unveils-record-budget?utm_source=rss_feed Fri, 10 Oct 2025 10:54:26 +0000 Hadi Azmi Hadi Azmi Malaysia has rolled out a targeted fuel subsidy scheme that limits each citizen to 300 litres of discounted petrol per month, replacing a decades-old blanket subsidy that had become a political flashpoint and a fiscal drain. The new measure, launched on Tuesday, marks a significant policy shift by Prime Minister Anwar Ibrahim’s administration, which hopes it will curb rampant fuel smuggling to neighbouring countries, misuse by foreigners and excessive consumption by wealthy Malaysians with... https://www.scmp.com/week-asia/economics/article/3327363/licence-fill-malaysias-new-fuel-subsidy-scheme-limits-access-national-id-holders?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3327363/licence-fill-malaysias-new-fuel-subsidy-scheme-limits-access-national-id-holders?utm_source=rss_feed Tue, 30 Sep 2025 07:12:53 +0000 Amalina Anuar Amalina Anuar Malaysia is in a tough spot when it comes to reforming RON95 fuel subsidies to reduce the country’s financial burden. The country needs more money: tax receipts amount to only 12.5 per cent of gross domestic product and oil is generating less revenue for the national coffers. Redirecting funds from exorbitant expenditures would ease this strain, allowing the government to fund more essential services and investments. Fuel subsidies, in place since 1983, are an obvious target. In 2022, these... https://www.scmp.com/week-asia/opinion/article/3323699/watering-down-malaysias-ron95-petrol-subsidy-reform-will-cost-country-dearly?utm_source=rss_feed https://www.scmp.com/week-asia/opinion/article/3323699/watering-down-malaysias-ron95-petrol-subsidy-reform-will-cost-country-dearly?utm_source=rss_feed Sun, 31 Aug 2025 02:00:18 +0000