27/03/2025

THURSDAY | MAR 27, 2025

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Parliament passes two economy-related legislations KUALA LUMPUR: The First Meeting of the Fourth Session of the 15th Parliament, which concluded on Tuesday, saw the passing of two economy-related Bills during the 12-day session. The Dewan Negara, which began its session on March 2, passed the Supplementary Supply Bill (2024) 2025 under the Finance Ministry and the Carbon Capture, Utilisation and Storage (CCUS) Bill 2025 under the Economy Ministry. The Supplementary Supply Bill (2024) 2025, tabled by Finance Minister II Datuk Seri Amir Hamzah Azizan, was passed on March 3 with a majority vote after being debated by 12 senators. The Bill involves the withdrawal of up to RM20.19 billion from the Consolidated Fund for additional service expenditures. The CCUS Bill 2025 was passed on the final day of the session following its third reading by Economy Minister Datuk Seri Rafizi Ramli. It aims to provide opportunities for investment expansion and bolster the national economy. Other Bills approved include the Malaysian Media Council Bill 2024 and the Bernama (Amendment) Bill 2024 under the Communications Ministry and the YTAR Fund (Amendment) Bill 2025 under the National Unity Ministry. In the Dewan Rakyat session that began on Feb 3, the House approved a motion of thanks for the Royal Address and debated the Auditor General’s Report 1/2025, along with several Bills. On March 13, the Dewan Negara passed the motion of thanks for the Royal Address with a majority, following a five-day debate starting from March 3. This was followed by summing-up speeches from 28 ministries. Nine Acts approved during the Third Meeting of the 15th Parliament, held from Oct 14 to Dec 12 last year, have received the royal assent of the Yang di-Pertuan Agong. These are the Supply Act 2025 (Budget 2025), Finance Act 2024, Measures for the Collection, Administration and Enforcement of Tax Act

2024, Tax (Amendment) (No 2) Act 2024, Prevention and Control of Infectious Diseases (Amendment) Act 2024, Communications and Multimedia (Amendment) Act 2024, Water Services Industry (Amendment) Act 2024, Penal Code (Amendment) (No 2) Act 2024 and Criminal Procedure Code (Amendment) (No 2) Act 2024. The Dewan Rakyat sessions also included a briefing by Prime Minister Datuk Seri Anwar Ibrahim on petroleum activities in Sarawak involving Petronas and Petroleum Sarawak Bhd, in which the federal government acknowledged Sarawak’s aspirations to engage in the state’s oil industry. – Bernama Labuan Business Activity

Workforce sustainability concerns rise as nation ages o Statistics Dept report reveals 7.5% of Malaysians currently aged 60 and above, set to double to 15% by 2030

Bill to boost civil service efficiency approved PUTRAJAYA: The Public Service Department (PSD) is acting as the lead agency in the formulation, coordination and implementation of the Government Service Efficiency Commitment Bill 2025. It said in a statement yesterday that the implementation of the Bill would be carried out with strong support from other government agencies, the Economy Ministry and the Malaysia Productivity Corporation. “This Bill represents a comprehensive and strategic approach across sectors and agencies to strengthen government administration and regulatory systems.” The Bill was unanimously passed by the Dewan Rakyat on March 6 and by the Dewan Negara on Tuesday, Bernama reported. PSD said the approval of the Bill marks a new milestone in reforming the structure and operations of the public sector. It said the Bill was drafted to address excessive bureaucracy, abolish outdated procedures and streamline regulatory processes that have burdened the public and business community. “It focuses on improving administrative efficiency and service delivery while reducing transaction costs and time lost due to unproductive processes. “It also emphasises strengthening governance based on integrity and transparency while driving economic growth through a business-friendly and responsive ecosystem. “This initiative will lead to faster and more user-friendly and accessible services, as well as strengthen collaboration between the public and private sectors to realise the aspirations of Malaysia Madani.” It said the Bill represents a transformation in work culture and values within the public sector.

companies hire senior workers not just for their expertise but also for their loyalty, which often surpasses that of younger employees. “Younger workers frequently switch jobs for better pay, whereas senior employees tend to stay longer if the work environment is good.” He said some employers find younger staff attitudes misaligned with industry expectations, making senior workers a more attractive option. “Older employees may lack the physical stamina of younger staff, but their soft skills, knowledge and networks add immense value. Their industry familiarity also reduces training costs.” Aimi said beyond financial reasons, many seniors work to stay mentally active. “After six months to two years of retirement, many seniors seek jobs or business ventures to keep their minds sharp. Boredom and loneliness at home can impact cognition, making work appealing.” However, he cautioned that an ageing workforce could impede the career progression of young workers, leading to frustration or even brain drain. “Older workers can drive up medical costs and insurance premiums, and retaining them may require higher salaries, straining company budgets.” He said with strategic workforce planning, businesses could leverage on the experience of senior workers while ensuring career growth for younger employees.

Ű BY HARITH KAMAL newsdesk@thensundaily.com

negatively affect the labour market, healthcare and social security. “Senior workers can be valuable, provided they are healthy and skilled. Some industries benefit from experienced mentors, and sectors like manufacturing, food services and consulting are increasingly hiring older workers for their reliability.” He added that many seniors work to stay active or boost their income. Syed Hussain acknowledged the hurdles in integrating seniors into the workforce. “Physical limitations may require flexible hours, ergonomic workplaces and remote work options. Technological advancements can be challenging to some seniors as they struggle with digital tools. “Salary expectations also pose difficulties, as experienced professionals may demand higher wages.” He stressed the need for lifelong learning programmes to keep senior workers relevant. He added that better Employees Provident Fund employer contributions would also ensure financial security for retirees. Universiti Kuala Lumpur economic analyst Dr Aimi Zulhazmi Abdul Rashid said

PETALING JAYA: As Malaysia moves towards an aged nation status by 2030, concerns over workforce sustainability are mounting. According to a 2024 Statistics Department report, 7.5% of Malaysians are aged 60 and above, a figure set to double to 15% by 2030. Malaysian Employers Federation (MEF) president Datuk Dr Syed Hussain Syed Husman said the federation backs hiring senior workers but stressed the need to address challenges to hire and keep them productive. He said despite government tax incentives for hiring senior workers, businesses can only claim double tax deductions on salaries capped at RM4,000 per month, a limit that discourages many from employing older talent. He said the cap should be scrapped to encourage more companies to employ seniors. “If businesses could claim tax deductions for higher salaries, more would be willing to hire senior workers. The current application process is also too complicated,” he told theSun . Syed Hussain warned that if poorly managed, Malaysia’s ageing population could

80th anniversary of Operation Semut commemorated

KUALA LUMPUR: Australia and Malaysia commemorated the 80th anniversary of Operation Semut with a ceremony in Bario, Sarawak on Tuesday, honouring the enduring defence partnership between the two nations. Australian High Commissioner to Malaysia Danielle Heinecke said the event “offers an opportunity to reflect on the past, present and future of our defence partnership as we continue to support Malaysia and our shared interest in a region that is open, stable and prosperous”. The High Commission said in a statement that the deep and unique defence partnership began when Australia’s Z Special Unit

parachuted into Bario to join local communities at the end of World War II. “Thanks to their efforts, our partnership has endured, with mutual respect and strong community links between our two nations.” The statement added that eight decades later, Australia is honoured to participate in the Royal Malaysian Air Force re-enactment of Australia’s Z Special Unit parachute jump as part of a commemorative ceremony. “This is a testament to the enduring friendship between our two nations, following in the footsteps of generations of sailors, soldiers and aviators who have lived, trained and fought together.” – Bernama

Australian servicemen during the re-enactment event in Bario. – PIC COURTESY OF AUSTRALIAN HIGH COMMISSION MALAYSIA