Deputy Prime Minister and Minister of Foreign Affairs met with the Chairman of the Nippon Foundation and the Special Envoy of the Government of Japan for National Reconciliation in Myanmar

On 13 January 2023, H.E. Mr. Don Pramudwinai, Deputy Prime Minister and Minister of Foreign Affairs of Thailand met with Mr. SASAKAWA Yohei, Chairman of the Nippon Foundation and Special Envoy of the Government of Japan for National Reconciliation in Myanmar during his visit to Thailand.

Both sides exchanged views on efforts to support peaceful resolution of the current situation and national reconciliation in Myanmar.

The meeting was part of Thailand’s ongoing diplomatic efforts to support the return of peace and stability in Myanmar.

Source: Ministry of Foreign Affairs, Kingdom of Thailand

Opening Remarks by Dr Maliki Osman, Second Minister for Education, at the Announcement of the Forward SITizen Initiative

Prof Chua Kee Chaing, President of the Singapore Institute of Technology

Mr Xie Yao Quan, Chief Executive Officer, Quantedge Foundation

Directors of Quantedge Foundation

Distinguished guests

1. A very good morning to all. I am very happy to join you today at the launch of the Forward SITizen Initiative, much has been spoken about it.

Uplifting Students from Vulnerable Backgrounds a Whole-Of-Society Effort

2. We are gathered here today because we believe that every child should have access to quality education, regardless of their background.

3. Uplifting those who most need help in our midst is a central part of our social compact. There have been many conversations and deliberations on how we can collectively strengthen this under the ongoing Forward Singapore exercise. What is clear is that ensuring access to quality education remains a key enabler of our meritocracy, which continues to be valued in our social compact, even as we discuss how it should evolve. At the same time, we all believe that one’s socioeconomic background need not be an inhibitor for one to succeed in Singapore.

4. The COVID-19 pandemic has disproportionately affected low-income and vulnerable groups. It is important that we ensure the more vulnerable members of our community are supported and are able to cope with rapid disruptions and uncertainty.

5. The Ministry of Education continues to invest heavily in education at all levels for all Singaporeans, with additional resources set aside to support students from vulnerable backgrounds through their education journey. I am heartened that the government’s efforts are supplemented by institutions rallying support from their communities, and generous private sector donations, which make a real difference in the lives of the beneficiaries, helping to open doors to opportunities and empower our young to pursue their passion and fulfil their potential.

Acknowledging SIT’s Initiative and the Efforts of Private Foundations and Donors

6. I am therefore glad to launch SIT’s new Forward SITizen Initiative, which will cover the tuition fees of SIT Singaporean undergraduates from vulnerable backgrounds. With this initiative, these students can focus on their learning and immerse themselves in the university experience, without having to worry about the financial burden of pursuing a degree.

7. I am also heartened to see that a number of donors have already stepped forward to make gifts in support of this initiative.

Today, I would like to express my sincerest thanks to Quantedge Foundation, as well as the donors of Dou Yee Enterprises Bursary, Kewalram Chanrai Group Bursary, KKH Bursary, Kwai Fong & Raymond Goh Study Grant, and Wilmar Bursary, for their contributions in pioneering the Forward SITizen Initiative.

8. As we launch Forward SITizen today, I hope that other foundations and businesses will likewise step forward to offer support to SIT and other educational institutions, to uplift students from vulnerable backgrounds.

9. I also hope that all students who benefit make full use of the opportunities presented to them, and, as the name ‘Forward SITizen’ suggests, remember to pay it forward by doing your best in your chosen field and giving back to your community. You don’t have to wait till you graduate before you start paying it forward. Even when you are still pursuing your studies, I would encourage you to find ways to contribute to the community – use your training and talents to benefit others at the same time!

10. Your story can serve as an inspiration to other students – that they too can pursue their dreams, regardless of one’s starting point.

Closing

11. Once again, I congratulate SIT for the launch of Forward SITizen, and would like express my appreciation to the donors who have made this initiative possible. Thank you.

Source: Ministry of Education, Singapore

Thailand Launched Tourism Promotion Campaign To Boost Economy

BANGKOK, Jan 13 (NNN-TNA) – Thailand’s tourism authority, yesterday, announced an annual plan, to boost its economy through elevated and experience-based tourism.

Under the theme of “Amazing New Chapters,” the new campaign aims for a full resumption of Thai tourism this year, which is expected to generate about 2.38 trillion baht (about 71.12 billion U.S. dollars), or 80 percent of the pre-pandemic level, Tourism Authority of Thailand (TAT) Governor, Yuthasak Supasorn, told a news conference.

The achievement of tourism last year, with a total of 11.8 million foreign arrivals and 189 million domestic trips, reflected very positive signs for tourism recovery, Yuthasak said.

For the Chinese and other international markets, the TAT will move forward by focusing on new segments of tourists, easing airline seat shortages, and promoting overland journeys, Deputy TAT Governor, Tanes Petsuwan, told the briefing.

The TAT will be working with airlines to help resume flights between Thailand and China, as there are about 70 percent fewer flights compared to 2019, Tanes said.

“Aside from road connectivity in the north, the China-Laos railway is now a game changer, connecting China’s southern region to the north-eastern part of Thailand,” he said.

According to the TAT, the kingdom is expected to welcome around 25 million international arrivals this year, with five million of them being Chinese tourists.

Source: NAM NEWS NETWORK

India imports 312,267 tonnes of palm oil from Malaysia in December 2022

NEW DELHI— India imported 312,267 tonnes of palm oil from Malaysia in December 2022 while its overall global edible oil imports during the month topped 1.5 million tonnes.

The volumes from Malaysia were made up of 257,525 tonnes of crude palm oil (CPO), 46,743 tonnes of refined, bleached and deodorised (RBD) palm olein and 7,999 tonnes of crude palm kernel oil (CPKO).

Palm oil’s share in India’s total December edible oil imports of 1.55 million tonnes was 71 per cent, according to monthly data released Thursday by the Mumbai-based Solvent Extractors’ Association of India.

In November 2022, India imported 318,825 tonnes of Malaysian palm oil, including 283,425 tonnes of CPO and 29,900 tonnes of RBD palm olein.

Source: NAM NEWS NETWORK

Malaysian Palm Oil Industry To Focus On Friendly Trade Partners: Minister

KUALA LUMPUR– Malaysia will focus its palm on trade with friendly partners, especially China, in the face of hostility from Western nations, Minister of Plantation and Commodities, Fadillah Yusof said, yesterday.

The constant demonisation and attacks against the sector, as well as, new regulations, which act as trade barriers, could cripple the economically critical palm oil industry in Malaysia, Fadillah said, at the Palm Oil Economic Review and Outlook Seminar 2023.

“I am particularly referring to the EU and the U.S. which are the two economic blocs that are constantly throwing baseless allegations, demonising our sustainable palm oil efforts, and initiating embargo against our palm oil products, with the aim of crippling our palm oil industry as a whole,” he said.

The minister said Malaysia would respond to these hostile moves from the U.S. and the EU by working with other palm oil producing countries, through the Council of Palm Oil Producing Countries (CPOPC) to protect its interests.

Malaysia recognises China as a key and friendly market and has engaged with the China Green Food Development Centre (CGFDC), aimed at promoting sustainability standards and incorporating the Malaysian Sustainable Palm Oil Certification (MSPO) scheme, for Malaysia’s certified palm oil into China, he said.

He added that, China’s Grand Oils and Fats (Dongguan) Co Ltd, a company in plant-based oils and fats industry, has become the first company outside Malaysia to be awarded the MPSO Supply Chain Certification Standard, and is confidently supplying products made from sustainably produced palm oil to their clients all around the world.

Indonesia and Malaysia are the largest palm oil producing nations, accounting for 85 percent to 90 percent of the total production of the product. Other important producing countries are Colombia, Nigeria and Thailand.

Source: NAM NEWS NETWORK

Malaysian ringgit jumps to 10-month high against greenback after softer US CPI

KUALA LUMPUR— The Malaysian ringgit jumped to a 10-month high against the greenback on anticipation of softer interest rate hikes in the United States going forward after the latest US inflation data showed a declining trend.

At 9 am, the ringgit surged by 270 basis points to 4.3300/3350 against the greenback, a level last seen in April 2022, from Thursday’s close of 4.3570/3615.

ActivTrades trader Dyogenes Rodrigues Diniz said the US Consumer Price Index (CPI) data, an indicator of inflation, was in line with market expectations, at 6.5 per cent year on year.

He said the market interpreted this as a signal that inflation is under control in the United States, which might push the US Federal Reserve (Fed) to slow down the pace of interest rate hikes in the second half of 2023.

“Many are now forecasting a 25 basis points increase going forward. All of this points to a further depreciation of the US dollar in the short and medium term.

“With lower inflation and lower interest rates, investors look out for more attractive investment alternatives and could sell US dollars to buy riskier assets, such as stocks or other currencies,” Diniz told Bernama.

From a technical point of view, he said the US dollar-ringgit has started to break through the support region at 4.3650 and it is possible that it will drop to as low as 4.30 over the next few days.

Meanwhile, an analyst said Malaysia’s positive economic figures, which had spurred buying interest for the ringgit, were also supported by China’s ongoing economic reopening.

It was reported that China’s inflation remained moderate with the CPI rising by 1.8 per cent in December from a year earlier, up from 1.6 per cent in November, according to the National Bureau of Statistics.

The republic’s inflation rate stood at 2.0 per cent in 2022, below the official target of around 3.0 per cent.

Meanwhile, the ringgit traded mostly lower against a basket of major currencies.

The local currency gained slightly against the Singapore dollar to 3.2751/2794 from 3.2764/2803 at Thursday’s close and declined against the euro to 4.6981/7035 from 4.6890/6938.

The ringgit fell vis-a-vis the Japanese yen to 3.3480/3524 from 3.3242/3281 but gained versus the British pound to 5.2852/2913 from 5.3033/3088 at Thursday’s close.

Source: NAM NEWS NETWORK