LOS ANGELES, April 16 (Reuters) - Netflix Chairman Reed Hastings is leaving the streaming service he co-founded 29 years ago as the company regains its footing after it lost its $72 billion deal for Warner Bros Discovery.
The Transport Ministry said this was to offset rising operating costs in the maritime transport sector, without affecting the people's access to maritime public transport services. It said geopolitical tensions in the Middle East have destabilised global energy markets and logistics chains, leading to a sharp increase in marine diesel prices and placing significant pressure on operating costs for the domestic maritime transport sector.
'The ministry acknowledges the challenges faced by passenger ferry and roll-on roll-off operators in maintaining sustainable, efficient and resilient services for the public. 'This surcharge adopts a limited 'pass-through cost' approach, where only a small portion of increased fuel costs is transferred to consumers, while the remainder is absorbed through government subsidies, operational efficiencies and internal cost management,' it said in a statement on Friday .
It said a 5% surcharge applies for prices between RM4.01 and RM5 per litre, increasing progressively to 8% , 12% , 15% and capped at a maximum of 18% for prices exceeding RM8 per litre. The surcharge will apply to public users and tourists, both domestic and international, while local residents and daily commuters will be exempt.
The ministry said the structure preserves existing fare control principles, with the 18% cap determined based on technical considerations, consumer sensitivity and the need to manage inflation. 'The surcharge rate will be reviewed monthly to ensure it remains aligned with fluctuations in fuel prices, government subsidy levels and the actual impact on consumers,' it said.
The ministry stressed that the measure is not intended to increase operators' profits, but to ensure continuity of ferry services and prevent disruptions. It added that the approach is also designed to maintain accessibility to maritime transport, particularly for island communities, while protecting the public from rising living costs.
'It also reflects the values of philanthropy and social justice by ensuring that those who are fully dependent on ferry services are not unduly burdened. 'Any adjustments will be made cautiously and based on current data, including the possibility of reducing or abolishing the surcharge when conditions improve,' read the statement. – Bernama
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