Good morning. Here’s what you should know today.
Key Highlights
How much do MPs make?
Anwar defends GIP deal
Competitive ranking drop
How much do MPs make?
The saying goes that the rakyat is the “boss” of elected lawmakers.
But how many of us “bosses” know how much our “employees” are getting paid?
Fret not, Kini News Lab has done the work for you.
The answer is, a lot.
And MPs make a lot in pensions too.
Kini News Lab’s latest series details exactly how much MPs, the speaker and deputy speakers of the Dewan Rakyat are paid.
There’s also a detailed list of how much recently active politicians will be getting in pensions.
Shocked at how much they’re being paid? Why don’t you step into their shoes and try to Spend Like an MP?
Prime Minister Anwar Ibrahim had urged elected representatives to only take one pension, while others argue that MPs should be put on an EPF plan instead.
However, at least one former lawmaker says the EPF plan may not be feasible.
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Anwar defends GIP deal
Prime Minister Anwar Ibrahim has finally addressed concerns about pro-Israeli interests gaining a hold in Malaysia through the planned Malaysia Airport Holdings Berhad (MAHB) takeover.
However, he has not rejected the plan some had hoped.
Instead, Anwar argued that cancelling the deal or cutting ties with all Israeli-linked companies, would impact the economy.
He also said that negotiations with Global Infrastructure Partners (GIP) had begun before Blackrock - a pro-Zionist firm with ties to Israel’s military - had moved to acquire GIP.
He also said that Blackrock already has interests in many companies operating in Malaysia.
Foreign Minister Mohamad Hasan said that Umno ministers had voiced their disagreement with the MAHB takeover plans, but indicated that the matter rests with the Finance Ministry.
In a separate statement, GIP said Blackrock would not be involved in MAHB operations should the Khazanah Nasional-led takeover go through.
Previously, several companies that manufacture weapons for Israel were also exhibitors at the Defence Services Asia (DSA) and National Security (Natsec) Asia expo in Kuala Lumpur.
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Competitive ranking drop
Malaysia fell seven spots in the 2024 International Institute for Management Development (IMD) World Competitiveness Ranking.
Malaysia had dropped to the 34th spot this year from the 27th position last year.
Scores had dropped in economic performance, government efficiency, and business efficiency.
Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz said the lower ranking was mainly due to the ringgit’s weakness last year.
However, he expressed confidence that the country would do better in next year’s ranking driven by high-technology product exports.
Meanwhile, economists told Malaysiakini the IMD ranking has no real implications, with investors focusing on other matters such as credit ratings.
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