Like roulette, the nation is embroiled in a guessing game for the next general election. THE 15th General Election, which must be held by Sept 16 next year, has become the most difficult one to predict. Currently, its date is just a stab in the dark.

KUALA LUMPUR: Malaysia is one of the 19 member countries of the East Asian-Australasian Flyway (EAAF), which is a destination for migratory birds to rest, find food and shelter before continuing their journey to other destinations. Energy and Natural Resources Minister Datuk Seri Takiyuddin Hassan (pic), in a statement issued with the World Migratory Bird Day here on Saturday (Oct 8), said over 50 million migratory bird species migrated through the EAAF every year to avoid winter in their home countries. In conjunction with World Migratory Bird Day today, Takiyuddin called on all parties to join forces and intensify efforts in conserving migratory birds. World Migratory Bird Day is celebrated bi-annually on the second Saturday in May and in October to raise awareness of the need for the conservation of migratory birds and their habitats. It aims to draw attention to the threats faced by migratory birds, their ecological importance, and the need for international cooperation to conserve them.

As such, to move towards a better Malaysia, Budget 2023 will be guided by the 3Rs — namely Responsive, Responsible and Reformist. Budget 2023 has not been formulated only for a specific group but instead has been inclusive in collating and analysing of ideas, molded into a 2023 Budget inspired by Keluarga Malaysia. This is a significant increase compared to Budget 2022's allocation of RM332 billion and Budget 2021's of RM322 billion. With the above special income tax treatment, the income tax savings for middle income group is up to RM1,000, meanwhile, for top income group is up to RM250 per taxpayer. Budget 2023 will be the largest budget ever, with an increased allocation of RM372 billion.

YES Bank Ltd, the Indian bank that almost collapsed two years ago from bad loans, is now on a hunt to buy stressed assets from other lenders. A new partnership with US private-equity firm JC Flowers & Co LLC allows it to buy soured loans of other banks, Prashant Kumar, chief executive officer of the Mumbai-based lender, said in an interview.

EVENING 5: Budget 2023 editionGet our comprehensive coverage of Budget 2023 here. Read the full Budget 2023 speech here. Here are some of the key takeaways of Budget 2023:

KUALA LUMPUR: Budget 2023, which is expected to be tabled later today, is being awaited with great anticipation by Malaysians from all walks of life as it will chart the nation’s vision in the coming year. He emphasised that Budget 2023 needs to be expansive but, at the same time, able to generate a new source of income to ensure that the nation will not fall deeper in debt. He said the budget should ensure the current focus of keeping the inflation rate low is maintained. He cautioned that another round of unchecked fiscal stimulus might pressure the inflation rate to rise further. Ahmed Razman added that with rumours of the 15th general election being around the corner, political conditions would also probably affect the ringgit's performance.

KUALA LUMPUR (Oct 7): Malaysia’s economic growth in 2022 could land higher than initial estimates at 6.5%-7%, before slowing to 4%-5% in 2023, said the Ministry of Finance in its 2023 Economic Outlook report. The slower growth seen for 2023 is against the backdrop of softening world economic growth and trade activities due to inflationary pressure, tightening of financial conditions, supply strains and geopolitical fragmentation, the report said. However, it should be noted that the forecast is on the back of the International Monetary Fund's (IMF) 2023 global growth forecast of 2.9%. Higher private, public spending seenIn 2023, domestic demand growth is expected to slow to 5.1%, from an estimated 6.3% growth in 2022, as private consumption growth moderates to 6.3%, compared with 8.7% during the same period. Read more stories from the Economic Report 2022/2023 here.

In the field of economic history, one common proxy measure for economic output growth is population growth, especially in cities. The second gathered communities of engineering practice to supercharge economic growth. But as Delong rightly points out, such economic growth was not evenly distributed over space and over time. And when it comes to the future of economic growth, these differing contexts are of immense importance. Yet, as we also know from history, different countries achieved sustained economic growth in different ways across space and time.

RECENTLY, channels have been created on the messenger app Telegram to promote schemes using the Bursa Malaysia name and logo. Are these schemes legitimately from Bursa Malaysia? It said that these scammers then promote get-rich-quick schemes in the form of investments, and lure participants to deposit funds. “Bursa Malaysia does not authorise or endorse this unlicensed activity. Bursa Malaysia then added that any potential investors should check a scheme with the Securities Commission Malaysia Investor Alert List (http://sc.com.my/investor-alert) before investing.

KUALA LUMPUR (Oct 6): Business process outsourcing solutions provider Advance Information Marketing Bhd (AIM) plans to diversify into the franchise retailing business of pharmaceutical products and services. AIM said its wholly owned subsidiary Advance Medipharm Solutions Sdn Bhd has entered into a five-year franchise agreement with Mediconstant Holding Sdn Bhd to obtain the right to operate Constant Pharmacy outlets. The initial franchise fee is RM50,000 while another RM300,000 is required for initial product purchase for every outlet, AIM said in a filing with Bursa Malaysia. The group said it will fund the franchise fee and initial startup costs via internally generated funds and bank borrowings. Shares of AIM closed unchanged at seven sen apiece on Thursday, giving it a market capitalisation of RM18.62 million.

Evidently, there is a need for healthcare system reform and greatly increased investment in healthcare in order to build a nation where “health is for all” and the people enjoy “universal healthcare”. VHI would also expose the population to greater public health risks, and families to greater financial risk due to catastrophic medical expenses. By contrast, public health spending — especially programmes emphasising prevention — came to a meagre 6.8%. KRI has previously advocated for the country to focus beyond curative care services to emphasise long-term prevention and invest more in public health services. Reforming the country’s healthcare system is also a shared responsibility, with “whole-of-government” and “all-of-society” approaches needed to enhance healthcare inclusion and MoH accountability.

GEORGE TOWN (Oct 5): Four people, including three in a family, pleaded not guilty in two separate Sessions Court here to 150 counts of money laundering involving more than RM300 million from 2018 to 2020. Abdul Wahab S Mohd Mydin, 53, Mohd Nasri Abdul Rahman, 36, Nur Hafeezah Abdul Wahab, 26, and Resool Bivi Yusof Gini, 50, claimed trial to all the charges before judges Mohammad Khalid Ab Karim and Mazdi Abdul Hamid. All were charged under Section 4(1)(b) of the Anti-Money Laundering, Anti-Terrorism Financing and Proceeds of Unlawful Activities Act 2001, punishable under Section 4(1) of the same Act. Bail for Mohd Nasri was set at RM500,000 with one surety; Abdul Wahab RM110,000 (one surety); Nur Hafeezah RM25,000 (one surety) and Resool Bivi RM10,000 (one surety). Deputy public prosecutor Harris Ong Mohd Jeffery Ong prosecuted while Abdul Wahab, Resool Bivi, and Nur Hafeezah were represented by Mashitah Jamaluddin and Nasri by S Raveentharan.

Gas prices, which surged in the months after the invasion in February, have retreated. But that could be short-lived as countries compete to buy liquefied natural gas (LNG) and other alternatives to Russian pipeline deliveries. To help tackle the pain, the European Union is considering a gas price cap, an issue that has divided the 27-nation bloc as some countries worry it could make securing supplies harder. "This winter is difficult but next winter may also be very difficult," Birol told journalists in Finland. She was speaking in the European Parliament ahead of a meeting of leaders of the 27 EU countries on Friday in Prague when they will debate the EU price cap plan.

KUALA LUMPUR: The ringgit continued to appreciate against the US dollar today ahead of the Budget 2023 tabling on Friday (Oct 7), said an analyst. At 6 pm, the local currency rose to 4.6290/6315 against the greenback from Tuesday’s close of 4.6420/6450. "Locals most likely want to validate a directional move before selling the US dollar and buying the local unit. "There seems to be a bit of a long dollar position squeeze across the broader currency markets,” he told Bernama. The local note edged up against the British pound to 5.2706/2734 from 5.2752/2786 at yesterday’s close and inched up against the Japanese yen to 3.2037/2056 from 3.2067/2090 previously.

PETALING JAYA: Malaysia recorded 1,483 new Covid-19 cases on Tuesday (Oct 4), bringing the total number of cases in the country to 4,846,592 infections since the pandemic began. The Health Ministry's CovidNow portal reported that 1,479 of Tuesday's new Covid-19 cases were local transmissions while four imported infections were logged. The number of Covid-19 patients warded at intensive care units (ICU) throughout the country stands at 42, with 23 of these patients requiring ventilation support. The ICU utilisation rate nationwide stood at 63.4%, with eight states or localities recording ICU usage rates of more than 60%. Johor had the highest ICU utilisation rate at 77.7%, followed by Kedah (76.9%), Selangor (74.8%), Kelantan (67.7%), Kuala Lumpur (67.4%), Perak (63.7%), Negri Sembilan (63.3%) and Pahang (60.2%).