Removing fuel subsidies may backfire, says Fomca

July 23, 2022

Obvious open mic material.

Dateline 2022-05-23, NST:

Removing fuel subsidies for Malaysians and permanent residents with locally registered cars amid the soaring prices of goods and rising cost of living may backfire and cause higher inflation.

Federation of Malaysian Consumers Associations (Fomca) chief executive officer T. Saravanan said this was because suppliers and traders were extremely sensitive to fuel prices and would raise the price of goods whether or not they were affected by the subsidy removal.

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Azmin: Govt likely to introduce targeted fuel mechanism amid rising crude oil prices

July 22, 2022

I repeat myself like a broken record: more carrot and stick for public transport.

Dateline 2022-05-21, Malay Mail:

The government is likely to introduce a targeted fuel mechanism to cushion the impact of the rising crude oil prices, especially for the lower-income group, said Senior Minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali.

He said the government is still working on a suitable structure following the sharp jump in the fuel subsidy projection for 2022 to RM28 billion, compared to RM11 billion in 2021.

“We talked about the review in a special retreat recently.

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Malaysia Among Asia’s Net Zero Champions

July 21, 2022

Dateline 2022-05-20, The ASEAN Post:

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All is not doom and gloom in Southeast Asia’s race to Net Zero. In many countries in the region, the private sector is actively leading the way by setting ambitious targets to decarbonize swiftly.

In Malaysia for instance, the Sunway Group is fiercely committed to achieving its Net Zero carbon emissions targets by 2050 in line with the Southeast Asian country’s 12th Malaysia Plan; with its Prime Minister pledging the ASEAN member state’s full commitment to achieving its target of becoming a carbon-neutral nation by as early as 2050.

In 2020, the group became one of the first few Malaysian companies to pledge support to the Task Force on Climate-related Financial Disclosures (TCFD), demonstrating its transparency in reporting its risk and opportunities related to climate change.

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IEM Shoutout – 2022-07 Annual Dinner

July 20, 2022

We still have seats available for the 23rd at Sunway Lagoon Hotel. A reminder that we still have seats, tables and sponsorship slots available. Please come and celebrate this year’s accomplishments with those of the engineering bent.

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M’sia hopes CPO jet fuel will be accepted by ICAO

July 18, 2022

And on the tarmac, you will see the MPOC logo.

Dateline 2022-05-18, The Star:

Malaysia is hoping that jet fuel made from crude palm oil (CPO) will be accepted by the International Civil Aviation Organisation (ICAO), says Transport Minister Datuk Seri Dr Wee Ka Siong.

Being one of the biggest palm oil producers in the world, he said Malaysia had introduced the Malaysian Sustainable Palm Oil (MSPO) Certification scheme in 2013 to address global concerns on the sustainable production of palm oil, such as mitigating biodiversity loss and greenhouse gas emissions.

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S’wak set to be first in Malaysia enforcing carbon emissions regulations

July 15, 2022

Dateline 2022-05-18, Borneo Post:

Sarawak will become the first state in Malaysia to have legislation that would see industries, including oil and gas, operating in the state needing to comply with international requirements when the proposed Land Code (Amendment) Bill, 2022 is passed, said Datuk Sharifah Hasidah Sayeed Aman Ghazali.

The Deputy Minister in the Premier of Sarawak’s Department (Law, MA63 and State-Federal Relations) said these international requirements include reducing carbon emission intensity under the United Nations Framework Convention on Climate Change (UNFCCC).

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You said nothing about PH-era bailouts, Najib tells Dr M

July 14, 2022

Dateline 2022-05-17, FMT:

It’s a slow news period, sue me.

Former prime minister Najib Razak has accused Dr Mahathir Mohamad of being hypocritical following the latter’s disagreement on bailing out Sapura Energy Bhd (SEB).

Yesterday, Mahathir was reported as saying that steps should be taken to trim losses incurred by the oil and gas services company, and that bailing out “failed people” was “not business”.

Taking to Facebook, Najib reminded Mahathir that when he was the prime minister under Pakatan Harapan, Permodalan Nasional Berhad (PNB), headed by then chairman Zeti Akhtar Aziz, had also “bailed out” SEB.

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Singaporean cars can’t buy RON 95 fuel in Malaysia, but what about diesel, which is also subsidised?

July 13, 2022

For the love of Gentleminions, put subsidies into public transport, and other public utilities.

Dateline 2022-05-17, pualtan.org:

The reopening of the Malaysia-Singapore land border on April 1 saw no shortage of traffic heading into the country, and with it, plenty of reports of Singaporean motorists refuelling with RON 95 petrol at Malaysian fuel stations during the first week of the reopening.

This action is of course not allowed, as foreign-registered vehicles (including motorcycles) are prohibited from buying RON 95 – which is heavily subsidised by the Malaysian government – under a ban that has been in place since August 1, 2010.

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Big chunk of fuel subsidy enjoyed by T20 group, 53 sen of every RM1 goes to the rich – Tengku Zafrul

July 12, 2022

For the love of Mat Kilau, put subsidies into public transport already, and keep the bus fracking lanes clear of people parking cars like me.

Dateline 2022-05-17, pualtan.org:

Fuel subsidy, costly as it is, will remain in Malaysia. However, it’s no secret that the government is looking at a more targeted approach to fuel subsidy, as opposed to the current blanket subsidised price, which is enjoyed by all Malaysians, whether rich or poor.

According to finance minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, Malaysia’s rich are enjoying the bulk of government subsidies. He said that the T20 group, the top 20% earners, benefitted from more than half of the RM4 billion the government has spent on petroleum subsidies this year, till March, due to the blanket subsidy method.

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Trim Sapura’s losses, no need for bailout, says Dr M

July 11, 2022

Ah, the funny pages.

Dateline 2022-05-16, FMT:

Steps should be taken to trim losses incurred by Sapura Energy Bhd (SEB), Dr Mahathir Mohamad said today, disagreeing with calls for Putrajaya to bail out the oil and gas services company.

The former prime minister said bailing out “failed people” was “not business”, the New Straits Times reported.

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