5G Rollout: Ministry will not entertain any form of lobbying – Fahmi

KUALA LUMPUR, March 9 (Bernama) — Communications and Digital Minister Fahmi Fadzil said today he will not entertain any form of lobbying in the implementation of 5G in Malaysia, regardless of whether they were based on foreign or local media reports.

He said for now, evaluation, discussion and research are being done regarding the direction of the 5G implementation and the ministry will not be affected by any lobbying efforts to secure network implementation contracts.

“If there are media outlets listening to my speech now, stop it, no more lobbying either through foreign or local media, enough. Give us the space to discuss until its conclusion.

“We will not entertain and we will not be swayed and neither will we be prejudiced. (You) can present five or 10 pages, I will not read even a single word. I have discussions that I need to carry out and I will stick to that,” he said when winding up the Supply Bill 2023 debate at Dewan Rakyat today.

Fahmi was responding to a question by Chong Zhemin (PH-Kampar) on whether the government intends to review the contract awarded to Swedish telecommunications giant Ericsson and the financial implications if that was done and the contract awarded to another party.

Chong said his question was following an article published three days ago by the Financial Times titled ‘Huawei fights for role as Malaysia reviews 5G tender’.

Ericsson, prior to this, had asserted that its 5G contract with Digital Nasional Bhd (DNB) was won fairly, based on its leading and competitive solutions.

The 5G contract, according to DNB in July 2021, was awarded following the strictest standards of governance as advised and facilitated by EY Consulting, Ericsson said in a statement issued on March 4.

Earlier, Fahmi said the government is expected to announce the direction of the 5G network coverage by the end of March.

He said that since the discussion process and engagement session on the matter between the ministry and telecommunications companies, DNB and the Malaysian Communications and Multimedia Commission (MCMC) began, transparency aspects in the implementation of the project could be translated more effectively.

“As a government that upholds the concept of the rule of law, we also respect the sanctity of contract, if there is any contract that has been signed we will respect it,” he said.

Fahmi said the government has no obstacles if the authorities, including the Malaysian Anti-Corruption Commission (MACC) felt there was a need to investigate the project in terms of governance.

“Investigate if there is a need, but on behalf of the ministry entrusted to manage and steer this process, we will ensure that it can be completed and Insya-Allah, we will announce it later,” he said.

Prime Minister Datuk Seri Anwar Ibrahim, prior to this, said the government will review the country’s 5G network plans as it was not done transparently by the previous government and without a proper tender process.

Source: BERNAMA News Agency

Ringgit rebounds to close higher against US Dollar

KUALA LUMPUR, March 9 (Bernama) — The ringgit reversed yesterday’s losses to close higher against the US dollar today after the Monetary Policy Committee (MPC) of Bank Negara Malaysia (BNM) decided to maintain the Overnight Policy Rate (OPR) at 2.75 per cent.

At 6 pm, the local note rose to 4.5170/5200 versus the greenback compared to yesterday’s closing rate of 4.5230/5265.

Bank Muamalat Malaysia Bhd head of economics, market analysis and social finance Dr Mohd Afzanizam Abdul Rashid said the ringgit continued to linger in a narrow range with a slight appreciation seen during the day.

“Clearly, the BNM decision to keep the OPR unchanged was within expectation.

“As such, it’s a non-event for ringgit as there is no surprise element (OPR hike),” he told Bernama.

He said now the market’s focus will be on United States (US) non-farm payroll (NFP) data on Friday night and the US Consumer Price Index (CPI) data next week before the Federal Open Market Committee (FOMC) members meet from March 21-22.

The ringgit was traded mostly lower against a basket of major currencies.

The local note fell against the Japanese yen to 3.3160/3184 from 3.2880/2908 at Wednesday’s close and decreased versus the British pound to 5.3608/3643 from 5.3530/3571 previously and weakened vis-a-vis the euro to 4.7690/7722 from 4.7650/7687.

Meanwhile, the ringgit was traded mixed against Asean currencies.

The local note appreciated against the Thai baht to 12.8814/8962 from 12.8912/9070 and rose against the Indonesian rupiah to 292.70/292.90 from 292.90/293.30.

However, it depreciated against the Singapore dollar to 3.3405/3432 from 3.3397/3428 previously and was flat vis-a-vis the Philippine peso to 8.18/8.18 from 8.18/8.19.

Source: BERNAMA News Agency

Gold futures end higher

KUALA LUMPUR, March 9 (Bernama) — The gold futures contract on Bursa Malaysia Derivatives ended higher today with a total of 61 lots traded.

The gold futures contract for spot month March 2023 improved to US$1,820.70 per troy ounce.

Meanwhile, contracts for April 2023, May 2023, June 2023, August 2023, and October 2023 all settled at US$1,828.90 per troy ounce.

The price of physical gold stood at US$1,816.30 per troy ounce as published by the London Bullion Market Association afternoon fix on March 8, 2023.

Source: BERNAMA News Agency