A total of 25 companies from Malaysia have sent letters of intent to invest in Indonesia’s Nusantara Capital City (IKN) so far, says Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Of that, he said two companies have passed the final evaluation stage, with investment potential of RM7.79bil and RM10.47bil, respectively.

“Proposed activities or industries (for investment in IKN) include energy, urban development, manufacturing, infrastructure, waste management solid and consulting services.

“The involvement of companies from Malaysia in the development of IKN is expected to boost bilateral trade and investment relations between Malaysia and Indonesia,” he said.

Source: Bernama

Local firms keen to invest in Nusantara

MALAYSIAN carmaker Proton has taken a significant step toward international expansion with the inauguration of a new completely knocked-down (CKD) plant to assemble the Proton Saga in Cairo, Egypt. The ceremony was officiated by YAB Dato’ Seri Anwar Bin Ibrahim, Malaysia’s Prime Minister, during his official visit to the country.

Prominent figures present at the event included H.E. Lieutenant General Kamel Al-Wazir, Egypt’s Deputy Prime Minister, YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Malaysia’s Minister of Investment, Trade, and Industry, and YB Dato’ Seri Utama Haji Mohamad bin Haji Hasan, Malaysia’s Minister of Foreign Affairs. Egyptian and Malaysian officials, including H.E. Mr Ragai Tawfik Said Nasr, Ambassador of Egypt to Malaysia, also participated alongside business leaders from both nations.

Strategic Investment in Al Oula Industrial Park

The new CKD facility is located in the Al Oula Industrial Park, Giza, and is operated by Ezz Elarab Elsewedy Automotive Factories (ESAF)—a joint venture between Ezz Elarab and Elsewedy Capital Holding. The plant represents an investment of USD35 million and has a production capacity of 20,000 units per shift. Once fully operational, it is expected to employ up to 400 people.

Proton was represented at the inauguration by Tan Sri Syed Faisal Albar, Chairman, and Roslan Abdullah, Deputy CEO. From ESAF, Hisham Ezz Elarab, Chairman, and Ahmed Elsewedy, Board Member, attended the event.

A Milestone in Bilateral Cooperation

During his speech, Prime Minister Anwar Ibrahim highlighted Proton as a source of national pride and emphasised the importance of partnerships like ESAF in fostering industrial advancement. He urged Proton to leverage local facilities to strengthen its operations in the region.

The factory inauguration comes shortly after the first shipment of CKD packs was sent to Egypt on 9 September 2024. The production of left-hand drive Proton Saga models is set to begin in December 2024, with an initial production target of 1,400 units for 2024. This is projected to increase to 5,000 units in 2025, with a total of 16,000 CKD packs expected to be exported by the end of 2026.

Expanding Beyond Egypt

The vehicles assembled in Egypt will not only cater to the domestic market but also be exported to Northern and Sub-Saharan Africa and Middle Eastern markets. These efforts are part of Proton’s strategy to strengthen its presence in emerging markets where car ownership is on the rise.

The total value of exports from this initiative is estimated at RM570 million, excluding an additional RM20 million projected from parts exports.

Unlocking Global Potential

Tan Sri Syed Faisal Albar remarked that Proton, as Malaysia’s leading vehicle exporter, currently sees exports accounting for 3% of total sales volume. However, the company aims to unlock untapped potential in international markets.

“Egypt is central to our plans for the region. Moving forward, we will focus on partnerships like ESAF to maximize the sales potential for Proton vehicles in regions where car ownership is still growing,” he said.

Future Growth Prospects

The establishment of the Cairo CKD facility marks a pivotal moment in Proton’s international expansion. With plans to explore broader markets and collaborate with strategic partners, the company is poised to enhance Malaysia’s automotive footprint on the global stage.

Source: The Sun

Proton expands global presence with new CKD plant in Egypt

Prime Minister Datuk Seri Anwar Ibrahim today launched the operation of the Proton Holdings Bhd car assembly plant here.

The Malaysian prime minister, in his speech at the launch ceremony, said the assembly of completely knocked down (CKD) Proton Saga cars in Egypt, set to begin next month, is part of Malaysia’s efforts to bring about a new way of cooperation between countries. “Proton is not just an automotive (company) in Malaysia, it is the pride of the nation, it is a brand that is associated with Malaysia…known to many countries, even in Europe,” he said.

“Malaysia’s presence in Egypt is as a partner based on trust and friendship,“ he added.

Also present at the ceremony were Foreign Minister Datuk Seri Mohamad Hasan, Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Tengku Abdul Aziz and the Industry Development and Transport Minister of Egypt Kamel Al-Wazir and the chairman of Ezz Elarab Elsewedy Industrial Investments, Hisham Ezz Elarab.

The Proton Saga assembly plant will increase car exports to Egypt to 16,000 units between this year and 2026, generating revenue of RM570 million. A further RM20 million in income is expected to be generated through the sale of spare parts.

Proton chairman Tan Sri Syed Faisal Albar said the national carmaker will continue to explore new markets to ensure the local car brand continues to thrive. He said that every year, the company’s vehicle exports are increasing and in the medium term Proton intends to make Egypt the main hub of Proton in the northern Africa region.

According to him, the regional assembly centre in Giza, Egypt will be the first for the company’s left-hand drive model abroad. “We hope this platform provides the potential for Proton to expand further into neighbouring countries by making Egypt the main hub,“ he said.

Source: Bernama

PM Anwar launches operation of Proton assembly factory in Egypt

Malaysian companies are urged to explore new business opportunities in Ethiopia, taking advantage of the RM40 million allocation announced recently in the Budget 2025, said the Ministry of Investment, Trade and Industry (MITI).

Its minister Tengku Datuk Seri Zafrul Abdul Aziz said the allocation will help Malaysian exporters access existing and new markets, including in Africa.

“Ethiopian Prime Minister Dr Abiy Ahmed Ali is currently in Malaysia for an official visit.

“The Malaysian delegation’s discussion with him includes efforts to improve bilateral relations and cooperation, including in investments, the halal industry and commodities,” he said in a post on X today.

Under the Budget 2025 tabled on Oct 18, the government allocated a total of RM2.18 billion to MITI.

In terms of market exploration for Malaysian products and services, a reimbursement grant of RM40 million will be allocated to MATRADE to help exporters penetrate new and diverse markets, including Africa, Latin America and West Asia.

Source: Bernama

Budget 2025: MITI Urges Malaysian Companies To Explore Opportunities In Ethiopia

Samaiden Group Bhd on Tuesday announced plans to expand its renewable energy (RE) business into Indonesia via the setting up of a joint venture (JV) company.

The group said its subsidiary, Samaiden SG Pte Ltd, will establish the JV with PT MCS Bina Energi on a 70:30 basis, with an authorised capital of 10 billion rupiah (RM2.8 million).

MCS Bina is involved in sectors such as basic infrastructure, RE and mineral resources. The company is closely aligned with Bintang Timur Investama, a diversified investment firm that actively engages in infrastructure, RE and technology sectors, said Samaiden in a bourse filing.

The group said it will provide technical advisory services in solar photovoltaic (PV) systems and RE, while MCS Bina will focus on identifying local business opportunities and navigating the regulatory landscape in Indonesia.

Samaiden group managing director Datuk Chow Pui Hee said the JV is part of the group’s expansion strategy across Southeast Asia.

“Indonesia has a strong commitment to develop its RE infrastructure aligns perfectly with Samaiden’s vision of driving clean energy adoption across the region,” she said in a statement. “We believe that this collaboration will further enhance our capacity to provide more RE solutions and contribute positively to both our financial performance and regional green energy transition.”

Samaiden said the development of the JV company is subject to the future projects to be undertaken, which will be funded by loans and advances from the company’s shareholders in proportion to their ownership.

Shares of Samaiden closed one sen or 0.91% lower to RM1.09 on Tuesday, valuing the group at RM456.19 million.

Source: The Edge Malaysia

Samaiden to set up JV for renewable energy business in Indonesia

The business community should continue to explore business opportunities and new investments in Kazakhstan, the largest country in Central Asia, said Prime Minister Datuk Seri Anwar Ibrahim.

He said Malaysia prioritises commitment in sectors including mining, oil and gas, energy, construction, tourism and consumer goods.

The government will always provide facilities and support for the business community to expand their operations overseas.

“However, the business community must remain open-minded and actively seek potential opportunities here,” Anwar said in his keynote address during the Kazakhstan-Malaysia Investment Roundtable today.

Also present was Kazakhstan Prime Minister Olzhas Bektenov.

Following the discussions, Anwar and Bektenov witnessed the exchange of four memorandums of understanding (MoUs).

The first MoU was signed between the Institute for Strategic and International Studies and the Kazakhstan Institute for Strategic Studies, while the second MoU was between the National Chamber of Commerce and Industry of Malaysia and the National Chamber of Commerce of Kazakhstan (Atameken).

The third MoU was inked by Malaysian company Hyrax Oil Sdn Bhd and the Alegeum Electric Company Group, while the fourth MoU involved Berkat OSH Services Sdn Bhd and APEC Training Center LLP.

Anwar arrived yesterday for a two-day official visit to Kazakhstan, aimed at further strengthening the ties and cooperation between the two countries.

The Malaysia delegation includes Foreign Minister Datuk Seri Mohamad Hasan; Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz; Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing; Minister in the Prime Minister’s Department (Religious Affairs) Datuk Mohd Na’im Mokhtar, and Malaysian Ambassador to Kazakhstan Mohd Adli Abdullah.

The ninth largest country in the world, Kazakhstan has a population of about 20 million people, with over 70 per cent of them Muslims.

The country is bordered by Russia to the north, the Caspian Sea to the southwest; Turkmenistan, Uzbekistan and the Kyrgyz Republic to the south, and China to the east.

Kazakhstan’s main exports include oil, natural gas, and other commodities. It is also a major wheat producer.

Source: Bernama

Business community should explore new investments in Kazakhstan — PM

Real estate outfit IQI Group is establishing a high-tech manufacturing park in Cambodia’s Kandal province, where the initial phase will have a gross development value of US$300 million that could potentially attract investors from Malaysia.

Daniel Ho, co-founder and group managing director of IQI, revealed that the first phase of the development will cover up to 100 hectares. 

Subsequent phases aim to expand the park to as much as 2,000 hectares, equivalent to 20 square kilometres, he said.

“We have ambitious goals for this high-tech park. Our objective is to create a sustainable high-tech ecosystem for multi-national companies to thrive and to be able to tap into the rewarding ASEAN market,” Ho said.

He emphasised IQI’s vision to transform the area into a thriving industrial hub within five years, attracting both local and international high-value industry players.

In addition to leveraging their platforms to attract manufacturing tenants, IQI and its parent company, Juwai IQI, intend to facilitate cross-border investment and development for corporate clients, particularly from Malaysia, China, and global markets.

IQI has solidified its commitment to the high-tech park through a memorandum of understanding (MoU) with Premium Housing Group, witnessed by Minister of Digital Gobind Singh Deo and Ambassador of Malaysia to Cambodia, Datuk Eldeen Husaini Mohd Hashim.

Chandy Mann, founder of Premium Housing Group, highlighted their extensive landbank and commitment to timely and budget-conscious project delivery. 

“As we plan the first stage of the park, we are working with renowned engineers and top-tier architects to conceptualise the project, so we can offer outstanding facilities to our tenants. We will ensure all designs and engineering comply with ESG standards,” he said.

Mann extended an invitation to like-minded manufacturers, emphasizing the park’s advanced amenities, strategic location, robust infrastructure, and skilled workforce as key benefits for prospective tenants.

 Meanwhile, a seasoned real estate consultant has identified 2024 as an opportune time for real estate investments in Cambodia, noting an anticipated surge in interest from Malaysian companies.

“The market is experiencing a revival as it aligns with the country’s economic growth trajectory.

“Emerging from a prolonged period of stagnation, factors such as increased tourism, rapid urbanisation, and the expansion of the middle class are fueling the growing appeal of the region,” he told NST Property.

Source: NST

IQI to set up manufacturing hub in Cambodia, potentially drawing investors from Malaysia

Sunsuria Bhd has entered into a co-construction agreement with the Fuzhou Municipal People’s Government (Gulou district) for the construction of the Asean Digital Trade Industrial Park in Fuzhou, China. The agreement was signed on Dec 21 during the First Overseas Chinese Talent Conference for Development in Fuzhou, China. 

Sunsuria executive chairman Tan Sri Ter Leong Yap said: “Sunsuria, in collaboration with Fuzhou (Gulou district) to build the Asean Digital Trade Industrial Park in Fuzhou, welcomes outstanding talents and digital companies from China and Malaysia to join us and promote the developments of the digital economy in China and Malaysia.”

For the past 10 years, Ter shared that Malaysia had been one of the active Asean countries in rolling out various initiatives, such as the Multimedia Super Corridor (MSC Malaysia), Malaysia Digital Economy Blueprint and MyDigital, to promote the country’s potential and competitiveness in developing digital tourism, digital trade, digital agriculture and digital finance, among others. 

Digital companies Shanghai Bridge Digital Technology Group, Haohuo Network Technology Co Ltd, Fujian HealthyWay IT Co Ltd and AMG Advance Profitable Sdn Bhd were also signatories of the agreement on Dec 21.

Source: The Edge Malaysia

Sunsuria announces partnership to build Asean Digital Trade Industrial Park in Fuzhou