KUALA LUMPUR: Fourteen squatter houses and four shops were destroyed in a late-night fire along Jalan Pantai Dalam late Thursday (Aug 7) night.

The Kuala Lumpur Fire and Rescue Department (JBPM) said it received an emergency call at 11.11pm regarding the blaze.

"Firefighters arrived within five minutes to find the squatter homes engulfed in flames, which had spread to four shops, including a convenience store,” he said in a statement.

The squatter homes were about 90% destroyed, while the shops sustained damage of about 80% on the upper floors and 10% on the ground floors, he added.

The blaze was brought under control at 1.49am on Friday (Aug 8). No one was hurt during the incident.

Firefighters continued overhaul work at the scene to ensure the fire was completely extinguished.

KUALA LUMPUR — Sebanyak 14 rumah dan empat kedai musnah dalam kebakaran yang berlaku di Jalan Pantai Dalam, di sini, malam tadi.

Jabatan Bomba dan Penyelamat Kuala Lumpur dalam kenyataannya berkata, pihaknya menerima panggilan kecemasan pada jam 11.11 malam dan berkejar ke tempat kejadian dengan kekuatan 36 anggota.

Kejadian itu, kata Bomba berlaku berhadapan stesen Komuter KTM, Jalan Pantai Dalam, melibatkan rumah setinggan dan merebak ke empat kedai termasuk Mydin Mart.

Kebakaran itu, katanya, berjaya dikawal pada jam 1.49 pagi.

“Seramai 36 anggota dari Balai Bomba dan Penyelamat (BBP) Pantai dan bantuan dari Hang Tuan, Seputeh dan Sri Hartamas.

“Keluasan kebakaran kedai adalah 200 X 120 kaki persegi dan kedai Mydin Mart bahagian atas tingkat satu terbakar 90% manakala tingkat bawah 20%.

“Tiga lagi kedai mengalami kebakaran sebanyak 90%,’’ katanya.

Bomba juga memberitahu, tiada kemalangan jiwa dilaporkan dan punca kejadian masih dalam siasatan. – 8 Ogos, 2025

KUALA LUMPUR: Malaysia's local banks and financial institutions must be ready to mobilise trillions of ringgit in climate financing, said Khazanah Research Institute deputy director of research Yin Shao Loong.
Yin highlighted that until 2023, Malaysia did not have a clear costed policy for its energy transition making it difficult to justify raising funds.

“Because, why go out and look for funds when you don’t even know how to use them?” he said in a panel session at Climate Finance Summit 2025 today.
He said the introduction of the National Energy Transition Roadmap in 2023 provided Malaysia with its first rough estimate of the cost involved. “The estimated bill came to around RM1.3 trillion.”

However, Yin noted that the cost of climate adaptation, which has received less attention, has yet to be determined.
“It’s easy to imagine the total bill reaching RM3 trillion. That’s an eye-watering amount. It’s hard to even grasp,” he said.

For context, Yin pointed to Malaysia's pensions gap, which stands at around RM700 billion. He added that 1MDB, often cited as a major debt burden, involved only RM53 billion.
“So those are double-digit billions, compared to trillions,” he said.

Yin stressed that Malaysia has never attempted to mobilise funding at such a scale before.
“One of the lessons we can learn from international climate finance is that 80% is domestically mobilised, and only 20% comes from international sources,” he said.

This, he explained, is largely because there simply isn't enough international funding available.

“It’s a recurring point of contention at every climate convention in November and December. Last year’s convention, in particular, got very heated because not enough was promised.”
Yin said there was a pledge to increase contributions from US$100 billion (RM423 billion) per year to US$300 billion, but people were asking for trillions.

“The truth is, there simply isn’t enough available.” Now that Malaysia has begun quantifying the potential costs, Yin said, the country must begin seriously looking for financing. “And we haven’t even started on what it will take to conserve forests, which are expected to absorb 90% to 95% of our emissions let alone adaptation,” he added.

Yin admitted he has doubts about whether Malaysia can raise that much money domestically.
“How many bonds can we realistically issue before the market starts asking, ‘Can this really be deployed and paid back?’

Sure, some bonds can be rolled over, he said, but without a clearer picture of adaptation costs, Malaysia is flying blind.
“That could be significant, considering 70% of our population lives in coastal zones. That’s a lot to protect,” he added.

Yin pointed to the 2021 floods, triggered by about a week of rain, which caused RM6.1 billion in damage, according to the Statistics Department.
“We weren’t prepared. We’re still not prepared for that kind of cost. And RM6.1 billion is roughly what our Covid-19 vaccine programme cost.”

Yin said he is not optimistic about the outlook stating that the way the United States has gone since 2024 is not encouraging. “And I’m not optimistic about the European Union either. It has traditionally been a climate champion, but it has now veered sharply to the far right and is talking more about missiles than climate.”

It is incredibly frustrating that international climate action is slowing down and, as a result, the availability of international finance may also shrink, Yin said.
“That means for us, we may have to shoulder even more adaptation costs ourselves as time goes on.”

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

KUALA LUMPUR: Malaysia needs the private sector, financial institutions and investors to move boldly in funding climate-related efforts, said Raja Muda Selangor Tengku Amir Shah Ibni Sultan Sharafuddin Idris Shah Alhaj.

Tengku Amir said institutions such as Khazanah Nasional Bhd, Employees Provident Fund and Permodalan Nasional Bhd need to step up as governments cannot do this alone.

“Imagine the impact if they increased their portfolio allocations towards renewable energy, low-carbon infrastructure, and nature-based solutions,” he said in his speech at the Climate Finance Summit 2025 today.

He said Malaysia still needs policy support including more financial incentives, better ESG (environmental, social and governance) regulation and creative financing tools to make it easier for the private sector to fund climate-related efforts.

He added that funding still lags far behind what is needed, as Malaysia faces an annual shortfall of RM20 billion to meet its climate goals.

“The 2021 floods alone caused RM6.1 billion in damages. Across Asean, the gap exceeds US$100 billion annually.”

Meanwhile, Tengku Amir pointed out that Singapore avoided similar devastation through S$2 billion (RM6.6 billion) in preventive investments.

“The lesson is clear. Inaction costs far more than action. Climate finance is not an expense. It is an investment in survival.”

He said strategic finance must go towards solutions such as climate-smart agriculture, flood mitigation, and disaster preparedness, especially after tragedies such as the Batang Kali landslide.

Tengku Amir stressed that climate finance must protect Malaysia’s most vulnerable, including farmers, fishermen and low-income communities.

“The agriculture sector employs over 10% of Malaysians, yet it is severely impacted by rising temperatures and drought. In some areas, oil palm yields have dropped by 20%. Coastal fishermen in Terengganu and Kelantan face rising sea levels and declining catches.”

However, he said there are also success stories. In Kuala Sepetang, Perak, decades of mangrove restoration have protected over 40,000 hectares of forest, boosted eco-tourism, and shielded local communities from storms.

He also noted that Malaysia has demonstrated leadership in the past. In 2017, it became the first country in the world to issue a green sukuk, an Islamic financial instrument to fund renewable energy.

“Tadau Energy’s green sukuk raised RM250 million to build a solar plant in Sabah. Since then, more issuances have followed,” Tengku Amir said.

He added that Malaysia is home to the world’s first syariah-compliant carbon market, the Bursa Carbon Exchange, which merges ethics with climate ambition.

He concluded that Malaysia should strive to become Southeast Asia’s climate finance hub, attracting global capital, driving regional solutions, and delivering on its net-zero 2050 commitment.

“If you’re in finance, grow your green investments. If you’re a policymaker, clear the roadblocks to climate funding. If you’re a business, embed climate action into your model. And if you’re young, use your voice and your choices to demand change.”

Tengku Amir called on the government, private sector and public to work together to make climate finance the engine of real, urgent and lasting change.