KUALA LUMPUR – Prime Minister Datuk Seri Anwar Ibrahim declared that the ringgit’s strong performance, now ranked among the best in Asia, is proof of effective governance, political stability and growing investor confidence in Malaysia’s economic direction.
He said the currency’s strengthening is also the result of the government’s consistent efforts to safeguard peace, ensure efficient administration, and take firm action against corruption and misappropriation.
“Our ringgit is among the best-performing in Asia — not just compared with neighbouring countries, but across Asia. That is why we must work hard and safeguard the country. That’s why I say it starts with governance — there must be no extra money being pocketed, no skimming, no taking of commissions,” he stressed during his speech at the Madani Cultural Carnival and Kenduri Rakyat Penang 2026 in Permatang Pasir today.
On Friday, the ringgit broke through the psychological 4.00 level against the US dollar, hitting 3.9992 — its strongest in more than seven years. The last time it reached that level was June 18, 2018, when it stood at 3.9960/9990.
Anwar, who is also Finance Minister, highlighted that contributions from the Malaysian Armed Forces, the Royal Malaysia Police and other security agencies are vital in maintaining national stability, which underpins economic growth and investor trust.
He reiterated the government’s firm stance against abuse of power and corruption, including in defence procurement, but stressed such measures should not erode public confidence in the country’s security institutions.
Turning to public welfare, Anwar announced increased allocations for assistance programmes, including the Sumbangan Tunai Rahmah (STR) and Sumbangan Asas Rahmah (SARA), amounting to RM15 billion. This comes alongside a civil service salary hike involving an additional RM18 billion this year.
He explained that savings from targeted subsidies and anti-corruption measures have enabled the government to redirect funds to the people, boosting STR, SARA and civil servant salaries.
The Prime Minister also assured that no new taxes have been imposed on low-income groups. Instead, the government has maintained the RON95 fuel subsidy and ensured that 85 per cent of the population is shielded from higher electricity tariffs.
Earlier, MRT Corp chief executive officer Datuk Zarif Hashim presented appointment letters to seven Bumiputera contractors for the Penang Light Rail Transit (LRT) Mutiara Line project, witnessed by Anwar. They were among 10 recipients of work packages under the project, part of MRT Corp’s Bumiputera development programme. – January 24, 2026