23/09/2025

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TUESDAY | SEPT 23, 2025

Asean must develop regional and global tech MNCs: Liew

Ministry plans to introduce financial management course for gig workers BUKIT MERTAJAM: The Human Resources Ministry (Kesuma) is planning to introduce a financial management course for gig workers as part of efforts to help them plan their finances more effectively and empower the group. Human Resources Minister Steven Sim said the initiative is crucial in equipping gig workers with essential financial knowledge, including saving, investing, and overall money management. “We have started a roadshow in Kuala Lumpur with gig workers in the film sector, and here in Penang, we engaged mostly with e-hailing drivers. From the feedback we received, there appears to be a clear need for a financial manage ment course,” he told reporters after attending the Penang Rider Jalan Teruih Programme in Permatang Pauh on Sunday night. Sim said one of the key issues raised during the session was gig workers’ understanding of tax obligations, which could be addressed through structured financial literacy programmes. “During the programme, some expressed anxiety about paying taxes, which points to a lack of understanding of taxation matters. With financial literacy courses, we can empower them by providing the knowledge needed to understand taxation better and manage their finances more effectively,” he said. Sim said Kesuma will continue its nationwide tour to engage with gig workers, serving as a platform to share information on the Gig Workers Bill 2025 that was tabled in Parliament recently. He said the engagement sessions are also meant to hear gig workers’ concerns and explore solutions to the challenges they face. In addition, he said, Kesuma also plans to provide courses and skills training, such as motorcycle repair and cooking, to support career development and create more job opportunities for gig workers. Sim urged supermarkets, shopping centres, and food court operators, especially large-scale ones, to provide safer and more convenient waiting facilities for delivery riders. “The provision of strategic, rider friendly waiting areas will benefit not only delivery workers but also customers and businesses. The Penang Rider Jalan Teruih Pro gramme on Sunday night gathered over 1,500 motorcyclists, mostly p-hailing workers, as part of Kesuma’s information tour on the Gig Workers Bill 2025. – Bernama

KUALA LUMPUR: Asean cannot grow purely on a foreign direct investment model but must grow and invest in the region’s tech nology companies to move forward. Deputy Investment, Trade and Industry Minister Liew Chin Tong said there may be a misconception that technology has to come from outside and that Asean is just a production site. “If we have a lot more invest ment going into Asean tech nologies, we will eventually see the companies emerging as regional multinational corporations or multinational companies or even global MNCs,” Liew told a press conference after establishing the Asean Private Markets Council (APMC) here yesterday. “The potential is there, but we will need to do a lot more to connect the dots, so that you connect the funding, technology and industrial policy to create the market in Asean,” he said. Stemming from one of the 12 initiatives championed by Asean Business Advisory Council (Asean BAC), the APMC seeks to address

domestic product (GDP) against a global average of 1.5% of GDP. “That gap may sound like just numbers, but in reality, it means Asean is operating with only one third capacity in terms of funding for high-growth and innovative companies,” Nazir said, estimating that up to US$60 billion (RM252.6 billion) in capital should be flowing into Asean private equity and venture funds to achieve the global average GDP growth of 1.5%. “APMC’s mission is to strengthen Asean’s position as a globally recognised hub for private markets by integrating, easing and in creasing capital flows into private markets, enhancing governance standards and fostering inno vation,” Nazir said. “We will promote Asean on the global stage, deepen engagement with regional and global capital allocators, persuade national regu lators to reduce regulatory friction, coordinate development of research and benchmarks and broaden participation beyond primary hubs to secondary cities and frontier markets,” he said. – Bernama

o Misconception that technology has to come from outside and that the region is just a production site, says deputy minister

the region. “I hope to see this investment eventually play a role in the green transition of Asean, whether in terms of technologies, creating new solutions, experimenting with pro cesses, or other innovations for green transition. “It should also involve investing in a blended financing form in the Asean power grid, so that energy is brought not only through an off taker model but to every part of Asean, allowing the region to grow in tandem and allowing even the least developed countries to progress in the next five, 10, or 15 years,” he said. Asean-BAC Malaysia chairman Tan Sri Nazir Razak, who is also APMC protem committee chair man, said a McKinsey study showed that Asean private markets make up only 0.5% of gross

the structural barriers that have historically constrained Asean’s private capital development. In a statement yesterday, Asean BAC said these barriers include fragmented regulatory frameworks across member states, under developed local fund managers, limited opportunities for large-scale capital deployment, a shallow and underperforming exit environment and a decline in fundraising from global investors. “Over 20 leading private finan cial market institutions across key Asean economies are committed to joining APMC as founding mem bers,” it added. Liew said the creation of APMC is to unlock regional investment potential, including investing in Asean’s technology sector and to create or achieve public purposes in

From left: Asean Private Markets Council head of project, head of Southeast Asia and managing director of building capital Shahril Hamdan, Nazir, Liew and McKinsey and Company partner Archana Seshadrinathan at a press conference on the establishment of the council yesterday. – BERNAMAPIC

M’sia expects to meet 15 of 18 Asean economic initiatives by October KUALA LUMPUR: Malaysia is

focused on 10 key agendas, including the status of PED implementation under Malaysia’s commitments this year. Earlier yesterday, Mastura had chaired Prep-SEOM , which was also attended by AEC deputy secretary general Satvinder Singh and Timor Leste’s representative to Asean, Augusto Jr Trindade. – Bernama

at the Asean Summit. According to Mastura, yesterday’s discussion only involved Asean member states, with all parties sharing their views and under standing on regional economic issues. She added that the Prep-SEOM, held at the Malaysia International Trade and Exhibition Centre, also

remaining three are expected to be completed by year-end,” she told reporters at the Preparatory Senior Economic Officials’ Meeting (Prep SEOM) here yesterday. She said the PED which are almost completed include the signing of the Asean-China Free Trade Area 3.0 and the new Asean Trade in Goods Agreement, both set to be endorsed

while another eight are close to reaching their targets. The PED spearheaded by Malaysia will drive regional economic inte gration as part of efforts to establish the Asean Economic Community (AEC). “We are confident that 15 out of the 18 will be achieved by the Asean Summit in October, while the

confident that it will be able to achieve 15 of the 18 Priority Economic Deliverables (PED) in time for the 47th Asean Summit next month. Ministry of Investment, Trade and Industry deputy secretary-general (trade) Mastura Ahmad Mustafa said of the 18 initiatives set by Malaysia this year, one has been completed,