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MIDF Research expects Malaysia’s external trade to likely recover in 2024, backed by a turnaround in electrical and electronics (E&E) trade.

In a research note today, it said the country’s export performance is set to rebound and grow at +5.2 per cent this year compared to 2023’s -8.0 per cent.

“Although the E&E exports remained below a year ago, the expected turnaround in the E&E trade will be one of the factors to support external trade recovery,” said MIDF Research.

Increased demand for petroleum products and palm oil could also support export growth this year.

Malaysia stands to benefit from the pick-up in regional production activities and improvement in global demand as the stronger-than-expected rebound in January 2024 was also in line with improving regional trade performance.

The nation’s total trade rebounded to +13.3 per cent year-on-year (y-o-y) in January 2024, marking the first growth in 11 months.

The better performance was due to increases in both exports (+3.4 per cent) and imports (+5.3 per cent) and the lower base effect.

Meanwhile, trade surplus amounted to RM10.1 billion and marked the 45th consecutive month of trade surplus since May 2020 due to the relatively stronger rise in imports.

“We still expect a pick-up in E&E trade, which will support the overall trade recovery and will continue to anchor for the continued trade surplus.

“We reiterate the reduced trade surplus mainly reflected dependency on imports for products such as transport equipment, machinery, chemicals, agriculture products and even crude petroleum,” it said.

Nevertheless, several downside risks could disrupt the trade outlook, including worsening geopolitical and trade tensions, lower demand from major trading partners, and prolonged weakness in global production activities.

MIDF Research also foresees Malaysia’s imports to rebound to +4.4 per cent this year from -6.4 per cent in 2023 on the back of expanding domestic demand and improvement in manufacturing activities.

“We believe the continued rise in imports of intermediate goods and capital goods is consistent with the better purchasing managers’ index (PMI) reading in January 2024, which pointed to stabilisation in the manufacturing sector activities and optimism that demand outlook will improve.

“Going forward, imports will continue to be driven by increased investment and business activities, including inventory restocking and sourcing of raw materials. In addition, imports of consumption goods will also expand on the back of growing domestic spending,” it said.

Source: Bernama

MIDF Research: E&E exports to pivot Malaysia’s external trade in 2024

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Bandar Enstek in Nilai has attracted RM420 million in new investments with the entry of four investors in various sectors.

Negeri Sembilan Menteri Besar Datuk Seri Aminuddin Harun said investors Educ8 Group, Gobuilders Netsoft, Malindo Airways and Meta Legends will offer more than 2,000 job opportunities for the community.

“For example, the entry of Educ8 Group can improve Bandar Enstek’s socio-economic and educational level and its surrounding areas collaborating with international sports and education academies such as the LaLiga Academy Malaysia and the Mouratoglou Academy,“ he said at the sale and purchase agreement signing ceremony between TH Properties Sdn Bhd and Bandar Enstek property buyers here today.

Meanwhile, Aminuddin described TH Properties’ involvement to attract investments via Bandar Enstek, and Techpark@Enstek as a major contribution to the state’s economic growth.

He said Techpark@Enstek attracted several local investments and global brands such as Dutch Lady Milk Industries Bhd, via the DLMI@enstek project involving almost RM600 million in investments and Mahsuri Food (M) Sdn Bhd with investments of over RM250 million.

He said Techpark@Enstek with its Halal Malaysia Industrial Park (HALMAS) status is the hub choice for big names like Ajinomoto Malaysia Bhd, Farm Fresh Bhd, Coca-Cola Bottlers (Malaysia) Sdn Bhd, Kellogg’s Malaysia and other investors operating in the 708.52-hectare industrial park.

“The state government continues to support and give opportunities to companies like TH Properties to expand business activities, for example, via its green policy. It has also reduced land premiums and land conversion premiums, and capital contribution charges (for infrastructure and utilities) and others,“ he said.

Meanwhile, TH Properties chairman Datuk Kartini Abdul Manaf said Bandar Enstek’s role in the development of Labu district can generate business and job opportunities and promote the district’s ecosystem and its surrounding areas.

“We develop Bandar Enstek with a vision that combines progress and sustainability in its commercial, residential, educational and industrial components,“ he said.

He said TH Properties will continue to strive to provide quality municipal facilities to ensure Bandar Enstek remains liveable with a high economic impact on the local community.

Source: Bernama

Bandar Enstek attracts RM420m new investments, offering 2,000 jobs

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A “bright spot of the world”, an “unprecedented success story”, a “raging bull”, etc — this is how the world’s leading industry captains, economists and policy-makers defined India at the recently concluded World Economic Forum at Davos 2024. The enthusiasm about India’s economic capabilities was not without reason, but rather is backed by solid growth credentials.

In the last decade, India has moved from being the 11th largest economy to the fifth largest and is poised to be the third largest by 2027. India’s solar energy capacity has grown 26 times in the same period. Since 2014, India has attracted over US$596 billion of foreign direct investment (FDI), positioning itself as a preferred global investment destination.

Backed by robust digital infrastructure through the Jan Dhan-Aadhaar-Mobile (JAM) trinity — i.e. bank accounts (financial inclusion), Aadhaar (unique identity) and mobile phones (digital access) — India is breaking records year after year in digital transactions, surpassing 100 billion last year. Today, there is not a single field of activity and place in the world which is not positively impacted by the rising New India.

Malaysia, an Enhanced Strategic Partner for India and a key collaborator for development and prosperity of the Global South, is an important partner in India’s ongoing growth trajectory. Bilateral investment linkages between the two countries have been strong and growing across an array of sectors. However, to forge an investment partnership for the next decade, Malaysia and India should foster stronger collaborations in the key focus areas of Renewable Energy, Semiconductors and Electronics Manufacturing and Startups.

Towards this end, an India Investment and Trade Promotion Roadshow 2024 is taking place from February 20-21, 2024 in Kuala Lumpur with a 20-member high-powered delegation from India comprising senior officials and industry leaders led by Rajesh Kumar Singh, Vice Minister, Ministry of Commerce and Industry of India in town. The investment Roadshow is being organised by Invest India, India’s National Investment Promotion and Facilitation Agency in collaboration with the High Commission of India in Malaysia, Malaysia-India Business Council, Federation of Malaysian Manufacturers and Malaysian Semiconductor Industry Associations; and with the active engagement of the Ministry of Investment, Trade and Industry (Miti) of Malaysia, Malaysian Investment Development Authority (Mida), and Malaysian External Trade Development Corporation (Matrade).

Today, India ranks as the world’s third largest energy consumer. India’s primary energy demand is expected to double by 2045. In anticipation of future requirements, India has adopted a sustainable approach by prioritising the development of environmentally sustainable renewable energy sources. India ranks fourth in global renewable energy installed capacity of over 180 GW. India has set itself the target of developing 500 GW of renewable energy capacity by 2030 and a net zero emission target by 2070.

India’s ongoing endeavour to ensure sustainable and affordable energy access to 1.4 billion people opens up vast opportunities for Malaysian companies particularly in ramping up India’s energy infrastructure and in key fields like solar rooftops, bio-fuels, green hydrogen, waste management (biogas sector), etc. Prime Minister Modi has recently launched a nationwide movement to embrace solar energy through his initiative to install solar rooftops in 10 million houses. India aims to achieve a 20% blending target by 2025 and to set up over 9,000 ethanol blending outlets across India. With the National Green Hydrogen Mission, India is striving to become a hub for hydrogen production and export.

Given this prospect, the renewable energy sector must figure prominently in the India-Malaysia investment mix. Malaysian companies are already realising the vast potential for investment collaboration in the green energy field with India. Since 2019, through Gentari, Petronas’ engagement in India’s RE sector has steadily grown, with Gentari’s acquisition of a 30% stake in India’s Greenko-owned firm AM Green Ammonia Holdings BV set to produce five million tonnes of green ammonia per annum by 2030; and Gentari’s joining India’s ReNew Energy Global to collaborate in a 50:50 joint venture for 5 GW of renewable energy capacity. Gentari has also partnered with India’s Tata Motors and Gati on electrical mobility. Such models of collaboration need to be replicated and more and more Malaysian-Indian ventures in green and renewable energy point the way forward.

Akin to the renewable energy sector, the electronics manufacturing and semiconductors sector is another key sector that holds vast potential for India-Malaysia collaboration. In the last nine years since 2014, India has achieved significant milestones in this sector. With electronics production crossing US$100 billion in 2023 (US$30 billion in 2014); the presence of over 200 mobile manufacturing units (from two units in 2014), and over 850 million broadband users (from 60 million in 2014), India has set itself an ambitious plan to achieve an output of US$300 billion in electronics manufacturing by 2025-26. India’s domestic market for semiconductors is expected to grow to U$110 billion by 2030. With dedicated industrial parks for electronics and semiconductor manufacturing, global players in the semiconductor sector are keen to set up shop in India. To encourage investments, India has launched key initiatives like the Production-linked Incentive Scheme (PLI) for Large-scale Electronics Manufacturing, Scheme for Promotion of Manufacturing of Electronic Components and Semiconductors (SPECS), etc.

Malaysia, with a strong E&E sector and contributing 15% to the global back-end semiconductor value chain, can emerge as a strong partner for India on technological collaboration, capacity building and skill development. Emphasis on the electronics and semiconductors sector in Malaysia’s New Industrial Master Plan (NIMP) fits well with India’s initiatives in this sector. A recent example of possible collaboration is the setting up of an India office at Bengaluru by Infinecs of Malaysia — a Penang-based company that offers electronics designing services.

The start-up sector is the third key sector that must be a core focus area for enacting the India-Malaysia partnership for next decade. Today, India is the third-largest start-up ecosystem in the world. From just 350 start-ups in 2014, India now boasts an armada of about 120,000 registered start-ups. India, which is home to one out of 10 unicorns globally, adds four start-ups every hour. While India and Malaysia have been collaborating in this field, it’s time to ramp up this collaboration significantly. Steps in this direction are taking place with Start-up India, India’s leading start-up promotion agency, and Malaysia’s Cradle Fund now working together to set up the India-Malaysia Start-up Bridge. Malaysian companies and Khazanah are investing in India’s start-ups. For example, recently Wow! Momo, an Indian food chain company, secured an investment of US$42 million from Khazanah. Similarly, Indian start-up unicorns such as OYO Rooms, Pine Labs, Razorpay and Ninacart have also increasingly been expanding their market into Malaysia. In the India-ASEAN Start-up Summit held in December 2023, 35 Indian start-ups and accelerators across sectors such edutech, health tech, deep-tech and ESG participated and forged fruitful collaborations with Malaysian investors, corporates and other stakeholders. With the Malaysia Startup Ecosystem Roadmap (SUPER) 2021-2030 aimed at generating 5,000 start-ups by 2025, India and Malaysia can be natural partners for collaboration in the start-up sector.

Since the formation of the Unity Government in Malaysia led by Malaysia’s Prime Minister, Datuk Seri Anwar Ibrahim, both governments have worked intensively to strengthen the India-Malaysia Enhanced Strategic Partnership and create a further rich environment for greater investment and trade promotion. Since December 2022, over 13 bilateral ministerial and deputy ministerial visits have taken place, further cementing bilateral and economic ties. The 6th India-Malaysia Joint Commission Meeting co-chaired by the foreign ministers of both countries held in New Delhi in November 2023 has further resolved to undertake several new initiatives including the Malaysia India Digital Council, India-Malaysia Start-up Bridge, India Malaysia Annual Energy Dialogue, etc, to drive the relationship forward. Against this backdrop, the India Investment and Trade Promotion Roadshow from February 20-21, 2024 in Kuala Lumpur is apt and timely, and provides an important event for charting a roadmap on collaboration for the next decade in key areas such as renewable energy, semiconductors and electronics manufacturing.

B N Reddy is the High Commissioner of India to Malaysia

Source: The Edge Malaysia

Charting a roadmap for future collaboration in India-Malaysia investment partnership

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Malaysia, with a credible and meaningful presence in aviation material and aircraft parts and components manufacturing, hopes to play a more important part in the global supply chain.

Deputy Investment, Trade and Industry Minister Liew Chin Tong said the aerospace sector plays an important role in advancing the four key missions outlined in the New Industrial Master Plan 2030 (NIMP 2030), this being advance economic complexity, tech up for a digitally vibrant nation, push for net zero and safeguard economic security and inclusivity.

“With NIMP 2030 in place, it could transform Malaysia into a global hub for aerospace manufacturing and services,” he said in his keynote address at the opening ceremony of the Malaysia-China Aviation Forum 2024.

Based on the Malaysian Aerospace Industry Blueprint 2030, Malaysia aims to be the main aerospace nation in Southeast Asia as well as an integral part of the global market by 2030, with an expected annual revenue of RM55.2 billion and over 32,000 high-income jobs created.

The blueprint encompasses five key subsectors in the aerospace industry, which include maintenance, repair and operations (MRO), aero manufacturing, system integration, engineering and design services and education and training.

The forum underscores a collaboration that brings together Chinese expertise and Malaysia’s aspiration to be an indispensable part of the global aerospace industry supply chain.

The forum is organised by the National Aerospace Industry Corporation Malaysia in partnership with the China Society of Aeronautics and Astronautics, International Association for Green Aviation, Volar Air Mobility, supported by Galleon (Shanghai) Consulting, Malaysia Autonomous Intelligence and Robotics Association, Malaysia Productivity Corporation and powered by Tahira Group.

“The collaboration between Malaysia and China in making this forum a success can be considered as part of the efforts to mark the 50th anniversary of diplomatic ties between both nations.

“I hope that this forum will evolve into a robust platform fostering commercial opportunities, forge new partnerships and explore new horizons together in the aerospace industry, especially in green aviation,” he said.

Source: Bernama

Malaysia eyes bigger role in global aviation supply chain – MITI

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The increase in investment in the fourth quarter of 2023 (4Q 2023) is a positive sign for Malaysia’s future economic growth, economist Dr Nungsari Ahmad Radhi said.

He told Bernama that the country saw capital formation increasing which underscores new capacities in the economy.

The Statistics Department (DOSM) 2023’s print on Friday showed that Malaysia’s international investment position registered higher net assets of RM119.4 billion at the end of 4Q 2023 versus RM94.9 billion in 3Q 2023.

Meanwhile, direct investment abroad amounted to RM662.8 billion with 69.4 per cent, or RM459.9 billion, in the services industry, 12.1 per cent (RM80.5 billion) in the mining and quarrying, and 9.0 per cent (RM59.9 billion) in the manufacturing sector.

The top three destinations were Singapore valued at RM150 billion, followed by Indonesia at RM70.6 billion and the Netherlands at RM40.5 billion.

DOSM said Malaysia’s foreign direct investments (FDI) rose by RM11.4 billion to RM926.3 billion at the end of 4Q, with 50.6 per cent, or RM468.4 billion, in the services sector, followed by manufacturing (42.2 per cent: RM390.8 billion) and mining and quarrying (4.5 per cent: RM42.1 billion).

The top three countries for FDIs were Singapore (RM 207.7 billion), Hong Kong (RM113.3 billion), the United States (RM97.4 billion).

“We need more of these both domestically, and via FDI. The economy needs to be structurally different as it gains competitiveness in new areas,” Nungsari said.

“Growing what we are already doing will not do. We have to invest in new capacities in new things. We need to have more of this,” he noted.

Source: Bernama

Rise in investment contribution good sign for Malaysia, says economist

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RHB Research expects Sarawak to transition into an economic powerhouse as it views that catalytic infrastructure enhancement will take place in light of the higher development expenditure allocated for the state.

This is further backed by the state’s post-Covid-19 Development Strategy 2030 which aims to reach a gross domestic product (GDP) of RM282 billion by 2030.

The research house has identified a few key infrastructure components to look out for in Sarawak including water projects, transportation projects like the Kuching Autonomous Rapid Transit and highways, renewable energy (RE) projects like hydropower, and potential data centre setups.

“New oil well discoveries offshore Sarawak combined with its location to be a prime spot for carbon capture and storage may also drive the demand for related infrastructures,” it said in a note today.

The research firm also said Sarawak is in a sweet spot to gain from foreign investments as the state has the most competitive unsubsidised electricity tariffs in Asean and business-friendly policies, while abundant RE sources have enabled it to attract foreign investors.

“Sarawak recorded RM14.6 billion worth in terms of the value of construction work done in 2023, the fourth largest after Selangor, Federal Territory, and Johor, representing a five-year compound annual growth rate of 4.5 per cent, which is commendable in comparison to most other states, which saw a decline,” it said.

In 2022, Sarawak recorded the fifth largest value of construction projects among the states in Malaysia, at RM9.9 billion.

Meanwhile, RHB Research said KKB Engineering is its top pick for Sarawak given its diverse infrastructure exposure, followed by IJM Corp which is gradually regaining its footprint in the state.

It also takes note of Gamuda’s track record in Sarawak via the Pan Borneo Highway and Second Trunk Road projects, and Ibraco as a non-rated idea for Sarawak.

The key risks for its recommendation include unforeseen pandemic outbreaks and an unexpected downward revision in the development expenditure for the state.

Source: Bernama

Sarawak set to transition into economic powerhouse, says research firm

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Sarawak’s first industrial microalgae production project led by Japan’s Chitose Group is set for a major expansion.

Known as Chitose Carbon Capture Central Sarawak (C4 Sarawak), the project, which also involves partners Sarawak Energy Bhd (SEB) and Sarawak Biodiversity Centre (SBC), was launched in Sejingkat near here in May 2023.

The Chitose Group, which is a family of biotechnology companies leading in the global bioeconomy space, is the primary contractor for the microalgae research project which is fully funded by New Energy and Industrial Technology Development Organisation and managed by Japan’s Ministry of Economy, Trade and Industry.

SEB, which operates the Sejingkat coal-fired power plant, is providing the necessary exhausted gas containing carbon dioxide from the plant through a flue gas delivery system to cultivate microalgae.

SBC, on the other hand, offers qualified researchers and skilled manpower to assist with the cultivation and production of high-quality microalgae biomass.

C4 Sarawak is currently the world’s largest microalgae production facility.

Chitose chief bio-engineer-cum-executive officer Takanori Hoshino said the five-ha microalgae production facility has been completed and microalgae production has begun.

“We plan to expand the microalgae production facility to cover an area of 100 ha,” he said after a Chitose delegation headed by group chief executive officer (CEO) Yomohiro Fujita met recently with Sarawak Premier Tan Sri Abang Johari Tun Openg to discuss the expansion project which is expected to commence shortly.

Fujita has pledged to continue expanding the C4 Sarawak project to achieve 2,000 ha by 2030.

Based on the preliminary estimates of the pilot facility at SBC, an investment into a 2,000-ha commercial plant can produce up to 140,000 tonnes of algae biomass annually.

Sarawak, according to Hoshino, was selected as a preferred location for the microalgae farm due to the state’s ideal temperature throughout the year, abundance of fresh water and the state being safe from major natural disasters like typhoons and earthquakes.

In addition, Sarawak is strategically located to access major international markets like Singapore, Japan, Taiwan and China, and the availability of a qualified and skilled local workforce.

Microalgae biomass can be processed for various commercial applications, such as jet fuel, paints, surfactants, truck fuel, proteins, feed and food products as well as for pharmaceutical and cosmetic purposes.

Starting from 2027, Hoshino said it is going to be mandatory for all airline companies globally to have certain percentage of their jet fuels to be mixed with bio-jet fuel, otherwise known as sustainable aviation fuel (SAF), and there is currently not enough supply of bio-jet fuel.

Once bio-jet fuel can be mass produced from microalgae biomass, Sarawak plans to export the fuel not only to South-East Asian countries but also the United States and Europe.

At the launch of C4 Sarawak, Abang Johari said that depending on technology used, some researches show that algae biomass of 350 tonnes per year could be generated from a five-ha farm, and can be processed into 87 tonnes of lipid capable of producing about 45 tonnes of SAF.

At the same time, this amount of biomass can also produce 192 tonnes of protein and 52 tonnes of carbohydrates.

He said Sarawak is fortunate to have 600 strains of various algae species that are kept in the depository for research at SBC.

The premier said by using carbon dioxide, a by-product of electricity production from the coal-fired plant, for microalgae production, C4 Sarawak is reducing emissions while contributing to Sarawak’s decarbonisation targets and Green Energy Agenda.

Additionally, he said C4 Sarawak can drive carbon capture, usage and storage exploration, which is crucial to fulfilling Sarawak’s Post-Covid-19 Development Strategy 2030, aiming it as an essential step forward into the journey towards a sustainable future.

Meanwhile, the SBC microalgae production facility has attracted foreign interest with the visit of an European Union (EU) delegation on Feb 15.

The delegation, which was led by ambassador and head of EU delegation to Malaysia, Michalis Rokas, was briefed and gained an understanding of the growing and processing methods used for algae production and its various applications.

Source: The Star

C4 Sarawak poised for major expansion

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As the world moves to reduce carbon emissions, the three core dimensions of energy sustainability in the forms of energy security, social equity and environmental impact mitigation are creating a trilemma for countries and policymakers.

For Malakoff Corporation Bhd, Malaysia’s largest independent power producer, the trilemma underscores the group’s energy transition approach, compelling it to reposition with a strategic focus on renewable sources while ensuring that the nation’s energy security is not compromised.

Managing Director and Group CEO Anwar Syahrin Abdul Ajib says the viability of thermal power plants is still relevant in the energy industry. This is because thermal plants can produce electricity with higher efficiency and provide power supply security for the country.

Winner of the Independent Power Producer of the Year award for biomass co-firing at Enlit Asia 2023, Malakoff’s existing thermal power plants supply 24.1% of Peninsular Malaysia’s total electricity generation. Through this, the group continues to support the nation’s power demand by addressing the country’s energy trilemma while balancing its own growth journey towards sustainability, in line with the government’s long-term aspirations.

Decarbonisation through co-firing

One of Malakoff’s key initiatives to significantly reduce greenhouse gas (GHG) emissions involves the decarbonisation of its largest thermal plant with a 2,100MW capacity through biomass co-firing. Both Malakoff and the Ministry of Plantation and Commodities have been designated to spearhead this flagship project and Malakoff is the only public-listed company in the National Energy Transition Roadmap to do so.

Biomass is considered a renewable energy source because it comes from organic materials such as wood, agricultural residues and organic waste. Unlike coal, which is a finite fossil fuel, biomass can be replenished through sustainable practices.

Moreover, biomass combustion generally releases fewer GHG emissions compared to coal. The carbon dioxide released during biomass combustion is part of the natural carbon cycle as plants absorb carbon dioxide during their growth.

“Many existing coal-fired power plants can be adapted for biomass co-firing, whereby biomass is burned alongside coal. This allows for a gradual transition without significant infrastructure changes,” Anwar Syahrin says.

Malakoff started its biomass co-firing project in December 2022 with a 12-day trial burn at its existing coal-fired Tanjung Bin Power Plant (TBPP) at a 0.5% biomass co-firing ratio, utilising one of its coal mills.

The initial pilot phase, featuring a 2% co-firing system, is expected to be installed and commence operations in 2024. Subsequently, a second pilot phase, incorporating a separate system with a capacity of 3% to 5% co-firing, is projected to be operational by 2025. These pilot-phase systems are anticipated to use empty fruit bunch pellets as the primary biomass fuel while TBPP continues its ongoing studies and assessments of other types of biomass fuels such as wood chip pellets, rice husk pellets and palm kernel shell, subject to their availability and feasibility for co-firing.

Through co-firing, TBPP is expected to significantly reduce its GHG emissions while providing grid stability at the same time. This fits into Malaysia’s commitment to a just energy transition, focusing on ensuring an equitable shift to a greener economy.

Anwar Syahrin points out that there have been a lot of successful projects worldwide in transitioning from coal to biomass firing, including Drax Power Station in the UK, the biggest plant that has fully converted several of its coal units to biomass.

Working with experienced consultants

Malakoff has engaged with experienced consultants who played pivotal roles in the successful transformation of these pioneering facilities, working with the same consultants who have worked on the Drax power plant.

“These established plants serve as inspiring examples of sustainable energy production, showcasing the feasibility and success of this transition,” Anwar Syahrin says.

“Their expertise and insights are invaluable assets as we navigate the complexities of transitioning to biomass firing, ensuring a smooth and effective adaptation that contributes to our commitment to this co-firing project,” he adds.

As part of the group’s commitments to transitioning towards a low-carbon economy, Malakoff has rolled out a sustainability framework to ensure adherence to its commitments to achieving sustainability goals. This includes achieving a renewable energy (RE) capacity of 1,400MW and reducing GHG emissions intensity by 30% by 2031 from a 2019 baseline. Other targets include 10,000 tonnes of waste collected per day by 2031 and a recycling rate of 15% to 20% from waste collected by Alam Flora Sdn Bhd by 2025.

Expanding RE portfolio

As part of plans to expand its renewable energy portfolio, Malakoff has agreed to install electric vehicle charging stations at Gas Malaysia headquarters and offices at Jalan Gurney in Kuala Lumpur. In addition, Malakoff has also entered into several strategic partnerships to advance in solar power, including a collaboration with Abu Dhabi Future Energy Company PJSC-Masdar to identify business opportunities in the investment and development of solar photovoltaic power plants with a target capacity of up to 1,000MW.

Malakoff has also secured the right to own, operate and maintain three small hydropower plants in Kuala Krai, Kelantan, with a total installed capacity of 84MW. The total net energy output produced annually by the project will offset over 272,424 tonnes of CO emissions.

“Malakoff’s key focus in the RE space is in solar, small hydro, biogas, biomass and waste-to-energy. These are key segments that provide significant growth opportunities as we pursue the energy transition pathway, in line with the government’s target of achieving a new RE capacity mix target of 70% by 2050,” Anwar Syahrin says.

Malakoff is realigning its businesses in the quest to stay relevant in a low-carbon economic model. These include finding tools that can help reduce electricity consumption in households by combining solar, battery and artificial intelligence devices that can anticipate electricity usage.

All said, Malakoff is always on the lookout for ways to bolster energy security for Malaysians while concurrently evolving the business to reduce its carbon footprint for a more sustainable and greener Malaysia, which is in line with its tagline of Enhancing Life, Enriching Communities.

Source: The Edge Malaysia

Malakoff champions biomass co-firing in Malaysia, pursues growth in renewable energy

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Sabah is seeking more cooperation with Japan to enhance development of biomass, green industries and renewable energy technologies in the state, says Datuk Phoong Jin Zhe.

The Sabah Industrial Development and Entrepreneurship Minister said it was important for Sabah to learn from Japan’s leadership and technology to drive sustainable growth and development in the state.

“We are enthusiastic about fostering better and closer ties with Japan and are excited about the potential collaboration between Sabah and Japan,” he said during a recent luncheon with Japan Ambassador to Malaysia Takahashi Katsuhiko.

“To further explore collaboration opportunities and welcome more potential investors to Sabah, our ministry will organise a business forum,” he said.

The discussion centred around potential collaboration between Sabah and Japan, focusing on industrial development and investments.

Also in attendance was the Japanese Consul-General in Kota Kinabalu Yamashita Yoshito.

Source: The Star

Sabah seeking collaboration with Japan to enhance green technology development

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Malaysia’s semiconductor sector is forecast to shine beginning in the second half of 2024 as the so-called ‘new oil’ in its recovery phase at a global scale post-2023’s downcycle.

Malaysia Semiconductor Industry Association’s (MSIA) confidence was based on World Semiconductor Trade Statistics (WSTS) prediction that the world semiconductor market would rebound by 13.1% this year to reach US$588 billion (RM2.8 trillion).

MSIA president Datuk Seri Wong Siew Hai said the global semiconductor sales dipped 8.2% to US$527 billion in 2023, but the Malaysian market was able to retain its strength throughout the year.

The evidence can be seen in last year’s electrical and electronics (E&E) sector, where exports decreased by only 3.0% to RM575.45 billion after 2022’s record year of 30% growth to RM593 billion, he told Bernama.

According to 2023’s full-year print, exports of semiconductor devices and integrated circuits (ICs) attained a growth of 0.03% to RM387.45 billion in 2023.

E&E products dominated Malaysia’s total exports in 2023, accounting for 40.4% share comprising products such as photosensitive semiconductor devices, batteries and electric accumulators, static converters, electric control panels, parts for switching apparatus and electric control panels as well as parts for diodes, transistors, piezoelectric crystals and other semiconductor devices.

The current prolonged geopolitical fragmentations are sending investors in search of new production homes or moving to trusted countries.

Wong said that following this many multinational companies in China diverted part of their production and supply chain as a mitigating strategy by selecting Malaysia as their “Plus One” location.

“The trend is likely to continue as many firms are currently evaluating Malaysia as their ‘Plus One’ location,“ he noted.

The “China Plus One” strategy emerged as a critical policy for companies to reduce their reliance on China by diversifying their supply chain activities to other markets.

He noted that the whole world is looking at enhancing supply chain resiliency.

“There are no simple solutions as the supply chain is very complex. Over the last two years, E&E companies have increased their productivity and acquired land to build factories to increase their capacities,” he added.

Hot competition in the electric car (EV) market is pushing local automakers to increase production and offer more affordable models.

In total, sales are expected to reach 14 million units by the end of 2023 after hitting the 10,000 mark a year before.

Following this everyone is keen on developing their domestic semiconductor ecosystem amid the full-speed race in the EV market, Wong said.

WSTS highlighted that all markets are poised for ongoing expansion in 2024 with the Americas and Asia-Pacific, in particular, forecast to demonstrate significant double-digit growth on a year-on-year basis.

In its December report, WSTS said the industry growth is expected to be primarily fuelled by the memory chip sector, which is set to soar 40% to around US$130 billion in 2024.

The majority of other principal segments, including discrete, sensors, analogue, logic and micro, are also expected to record single-digit growth rates.

Wong said Malaysia can play a critical role in the global supply chain, riding on its position as the 6th largest exporter of semiconductors in the world.

The country also controls 13% of the global market for packaging, assembly and testing services for semiconductors.

With the talent pool of more than 50 years of industry experience and the combined efforts of all stakeholders, Malaysia can succeed in this sector, Wong reckoned.

Given the importance of the E&E sector to the Malaysian economy and its place in the global supply chain, he emphasised the need for collaboration among all parties involved to optimise Malaysia’s potential in the E&E sector, given its significant economic contribution and pivotal position in the global supply chain.

“For a start, the country needs to improve its world competitive ranking, improve ease of doing business (some programmes already ongoing), enhance the E&E ecosystem and be ready to provide incentives in light of the global minimum tax implementation in 2025,” he said.

Wong believed Malaysia should continue to attract companies with state-of-the-art technology and encourage existing companies to go up the value chain.

He also recommended that the nation enhances its ecosystem by attracting more wafer fabs, establishing both local and foreign direct investments in IC design companies, advancing packaging in assembly and testing, and creating Malaysian global champions in automation.

Source: The Sun

MSIA: Local semiconductor sector to pick up in second half of 2024

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IN its quest to become a leader in green technology, Melaka has embarked on an ambitious path towards sustainability and energy independence. With a strategic focus on solar energy, the state is making significant strides in renewable energy investment, setting an example for Malaysia and beyond. This article explores Melaka’s journey, highlighting the solar projects that are central to its renewable energy strategy.

SOLAR POWER AT THE FOREFRONT

At the heart of Melaka’s green initiative is the development of solar energy projects. The KMB Solar Farm in Alor Gajah exemplifies the state’s commitment to harnessing the sun’s power. This project, among others, is instrumental in shifting the state’s energy mix towards cleaner sources, reducing carbon emissions and promoting environmental sustainability.

THE IMPACT OF SOLAR ENERGY IN MELAKA

The Alor Gajah solar farm and similar projects are crucial components of Melaka’s renewable energy portfolio. By tapping into solar power, Melaka is not only ensuring a sustainable energy supply but also fostering economic growth and innovation within the green technology sector. These initiatives support the state’s goal of reducing dependency on fossil fuels and minimising the environmental impact of energy production.

CHALLENGES AND OPPORTUNITIES

The transition to renewable energy is not without its challenges. Melaka faces the task of integrating solar power into the existing grid, managing variable energy output, and ensuring the financial viability of renewable projects. However, these challenges present opportunities for innovation, collaboration, and the development of new technologies that can further enhance the efficiency and effectiveness of solar energy generation.

THE ROAD AHEAD

Melaka’s investment in solar energy is a testament to its vision of a sustainable and green future. The state’s efforts align with Malaysia’s national objectives to increase the share of renewable energy in the energy mix. As Melaka continues to expand its solar projects, it serves as a model for renewable energy adoption, demonstrating the benefits of embracing green technology for sustainable development.

Source: NST

Shining a light on Melaka’s solar energy revolution

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Malaysia is looking forward to forging stronger cooperation in the development of Technical and Vocational Education and Training (TVET) and the halal industry with Japan, Datuk Seri Dr Ahmad Zahid Hamidi said.

The Deputy Prime Minister said this is the main focus among a slew of agendas lined-up during his maiden working visit to Japan.

Zahid, who is also the Regional and Development Minister, is undertaking a week-long working visit Japan until Feb 23.

“Alhamdulillah, I have arrived in Japan last night for my seven-day working visit which included Tokyo and Osaka.

“A series of courtesy calls and meetings will take place during my visit here.

“The main focus is to discuss efforts to further strengthen Malaysia-Japan cooperation in the efforts to empower TVET and the halal industry,” he said in a social media posting on his Facebook account today.

In a separate posting, Zahid said he has attended a meeting with representatives of the Malaysian Embassy (Malawakil) in Tokyo.

Also attending the meeting were representatives from the ministries and agencies involved in the arrangement of his working visit to Japan.

“We want to ensure that all programmes planned during this working visit will have a significant impact (towards the development of the country),” he said.

The Foreign Minister, in a statement yesterday, said Zahid is being accompanied by Higher Education Minister Datuk Seri Dr Zambry Abd Kadir, senior officials of the relevant ministries and agencies as well as representatives from the institutes of higher education during his visit to Japan.

Among the key highlights during the visit included an event in which Zahid will be conferred an honorary degree from Shibaura Institute of Technology (SIT), Tokyo in recognition of his contribution not only towards the strengthening of Malaysia-Japan technical education cooperation and effort in uplifting TVET.

Other programmes during his visit to Japan including a meeting with Japan Education, Culture, Sports, Science and Technology Minister Masahito Moriyama and courtesy call from Organisation for Industrial, Spiritual and Cultural Advancement (OISCA) International president Etsuko Nakano.

Zahid is also scheduled to visit the National Institute of Technology, Tokyo College (Tokyo KOSEN) to gain valuable insights into Japan’s exemplary TVET system.

Japan, the statement said, has been Malaysia’s fourth-largest trading partner globally since 2015.

The trade value between Malaysia and Japan last year reached RM156.64 billion (US $34.39 billion), which contributed 5.9 per cent of Malaysia’s total trade.

Source: NST

Malaysia to strengthen TVET, halal industry cooperation with Japan

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Sibu, which has an established shipbuilding and ship repair industry that has successfully penetrated the international market, is able to play a role as a hub for bunkering facilities in Sarawak to supply green methanol to international shipping lines.

Premier Tan Sri Abang Johari Tun Openg said this is due to Sarawak’s efforts to produce green methanol which is in high demand internationally as the world is now turning to green energy.

According to him, shipping companies today are changing engines that use oil to those that use green methanol to power their ships while most banks at the international level take into account the use of green energy when approving loans.

“Nowadays, Sibu produces a lot of ships and (owners) want to change from an engine that uses fuel oil to a methanol engine; so, of course, they would need green methanol to run the ship.

“This means (the shipbuilding and ship repair industry in Sibu) will promote our port as the bunkering facility hub for international shipping lines,” he said in his speech at the SUPP Sibu Chinese New Year Open House 2024 last night.

He said Sarawak is making strides actively towards a green economy.

“It is indeed necessary to make an adjustable green economy policy that can be according to current needs and requirements,” he said.

Meanwhile, Abang Johari expressed confidence that Sarawak’s revenue in 2024 will continue to record an increase compared to last year, when the state collected RM13 billion — up from RM11 billion in 2022.

The Premier said that in comparison, Sarawak was only able to record an income of RM6 billion in the preceding six years.

Despite the higher income, he assured that Sarawak will not spend extravagantly, as part of it will be saved for future needs.

In fact, he noted, Sarawak is the only state in Malaysia that has a sovereign wealth fund.

Source: Bernama

Abang Johari: Sibu set to become green methanol bunkering hub

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Penang, being the Silicon Valley of the East, is the breeding ground for successful stories of startups and large local companies (LLCs) that are at par with technology giants of the world.

One great example is homegrown industrial automation solutions provider Greatech Technology Bhd that was set up by Tan Eng Kee and Khor Lean Heng in 1997.

Prime Minister Datuk Seri Anwar Ibrahim visited Greatech’s factory in Penang during his visit to the state yesterday, accompanied by Bayan Baru Member of Parliament Sim Tze Tzin.

In his official Facebook post, Sim said Greatech produced the important machines to manufacture high tech products such as electric vehicle (EV) batteries, solar panel and artificial intelligence (AI) boards for global top high tech companies.

“Greatech is now the unicorn and success story of Malaysia’s high tech industry. All machines producing these high tech products are designed, manufactured and produced here in Greatech Penang.

“Greatech is at the forefront of AI, augmented reality, EV and green technology revolution. I am feeling so proud, I believe the Prime Minister feels the same too,“ he said.

He added that even more impressive is that all machine design and production are done by local Malaysian engineers.

Sim said this signifies that young people should take up science, technology, engineering and mathematics subjects because the future of jobs are in these high tech sectors and Malaysia has the capabilities in global high tech industries.

During his visit to Penang yesterday, Anwar attended the Madani Cheapest Sale event in Bandar Perda in the morning before attending the Penang Zakat International Conference at Universiti Sains Malaysia (USM).

He then performed Friday prayers and attended a community luncheon at Masjid Jamek Tengah Berapit in Permatang Pauh.

Following that, he officiated at the opening of the Penang Entrepreneurs Connectivity and Development Empowerment Carnival at Seberang Perai Polytechnic’s Dewan Seri Mutiara before concluding his visit with the groundbreaking ceremony of the Batu Kawan Industrial Park 3.

Source: Bernama

Penang the breeding ground of successful startups, large local companies – MP

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AS the unity government under Prime Minister Datuk Seri Anwar Ibrahim progressively consolidated its power last year, a new series of blueprints and measures had been rolled out with the aim of driving Malaysia towards a higher growth path and sustainable prosperity.

These fresh initiatives are said to reflect the unity government’s intention to sharpen the country’s focus on new growth areas such as green and renewable energy, and the digital economy.

They are also expected to create greater investment opportunities in Malaysia, and attract an increase in investment flows from the private sector to help drive growth.

New growth era

Laying the foundation for the “new structure” of the future for Malaysia is the Madani Economy framework.

Unveiled on July 27, 2023, the ambitious framework outlines seven main targets that will be achieved in the next 10 years to catapult Malaysia into a leading Asian economy, while elevating the quality of the rakyat’s life.

These targets include making Malaysia one of the Top 30 largest economies in the world and top 12 countries in the global competitiveness index; increasing the percentage of labour income to 45% of total income and the female labour force participation rate to 60%; ranking Malaysia among the top 25 countries in the world in the Human Development Index as well as among the top 25 in the Corruption Perceptions Index; and achieving fiscal sustainability with a fiscal deficit to gross domestic product (GDP) ratio of 3% or lower.

Immediately following the launch of the Madani Economy framework is the rollout of the National Energy Transition Roadmap (NETR) Phase 1 on the same day, and Phase 2 on Aug 28, 2023.

The roadmap charts Malaysia’s shift towards becoming a green and sustainable economy, with net-zero emissions by 2050.

To facilitate the shift, the NETR focuses on six energy transition levers, namely energy efficiency; renewable energy (RE); hydrogen; bioenergy; green mobility; and carbon capture, utilisation and storage (CCUS). These, in turn, have been strategically structured into 10 flagship projects, which are expected to attract investments exceeding Rm25bil.

Further, the responsible transition (RT) initiative, a key component of the NETR, is expected to yield investment opportunities worth RM1.2 trillion to RM1.3 trillion by 2050.

This trajectory foresees an additional contribution of Rm220bil to the country’s GDP and highlights the great potential in Malaysia’s energy sector.

In September 2023, the government introduced two other blueprints that will create even more investment opportunities in Malaysia.

These include the New Industrial Master Plan 2030 (NIMP 2030) to bolster the nation’s manufacturing sector and the 12th Malaysia Plan (2021 to 2025) Mid-term Review (12MP-MTR), which involves making modification and creating a transition for sustainable development.

The NIMP 2030 outlines six key goals to elevate Malaysia’s economic standing.

These include increasing economic complexity; creating high-value jobs opportunities; extending domestic linkages; developing new and existing clusters; improving inclusivity and enhancing environmental, social and governance practices.

Under the seven-year plan, nine mission-based projects have been identified to catalyse high value-added activities across key sectors in Malaysia through initiatives such as launching a locally-manufactured electric vehicle (EV) and transforming 3,000 factories into smart factories by 2030.

Essentially, the NIMP 2030 seeks to nurture high-value and innovation-driven sectors such as electrical and electronics (in particular, the integrated circuit design and wafer fabrication activities); specialty chemicals; aerospace; pharmaceutical; and medical devices.

The government also targets four additional growth sectors, namely, advanced materials, EVS, RE, and CCUS.

Importantly, the NIMP 2030 emphasises inclusivity and balanced development, with an aim to stimulate economic growth across all states based on their respective unique strengths.

From mineral-rich states such as Perak, Terengganu, Kedah, Pahang and Kelantan to renewable energy hubs such as Sabah and Sarawak, the potential of every state will be optimally harnessed.

Meanwhile, the 12MP-MTR outlines 17 “big bold” measures, covering important strategies and initiatives that will serve as the main catalyst in accelerating the efforts to reform the socioeconomic development of the nation in line with the Madani Economy framework.

Among these “big bold” measures are developing high growth high value (HGHV) industries, enhancing fiscal sustainability, retargetting subsidies, accelerating energy transition, advancing digitalisation and technology as well as empowering micro, small and medium entreprises.

The HGHV agenda will cover the digital and technology-based industries; electrical and electronics; agriculture and agro-based activities; rare earth; and energy transition.

In line with the national ambition, Budget 2024, unveiled on Oct 13, 2023, further introduced measures to support the implementation of key blueprints such as the NETR and NIMP 2030.

Among these initiatives are tax incentives to spur investments by both new and existing companies to transition to a low-carbon economy; an allocation of RM200mil as initial fund for the implementation of certain NIMP 2030 programmes; and a reinvestment tax incentive to encourage existing companies to plough back their capital into high-value activities.

Source: The Star

Enhancing investment opportunities

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The National Semiconductor Strategic Task Force (NSSTF) will focus on several aspects, namely incentives, talent and ecosystem, to transform and improve Malaysia’s electrical and electronics (E&E) industry.

When chairing the task force’s first meeting, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said among matters prioritised by the Ministry of Investment, Trade and Industry (Miti) and the NSSTF are the review and reform of the incentive policy.

He said this is to ensure Malaysia remains competitive in attracting foreign direct investment, as well as domestic direct investment, to generate growth in the E&E sector.

“Additionally, the development and production of quality talent will be prioritised to meet the dynamic demand of the industry, so that Malaysia’s position as a centre of innovation and excellence remains strong.

“The task force will also identify appropriate sectors to form the basis of sustainable growth, for example, through a local vendor development programme, as we also need to open up opportunities for local companies and small and medium enterprises to receive benefits from the development of our E&E industry ecosystem,” he said in a statement on Friday.

The NSSTF was established via the National Investment Council meeting on Jan 9, 2024, as a special platform to discuss and implement the development direction of the Malaysian semiconductor industry ecosystem, including efforts to attract strategic and quality investments.

In its first meeting, the NSSTF officially introduced 10 industry experts appointed as members of a special advisory panel to the task force, consisting of experts in several value and supply chains in the semiconductor industry in Malaysia, representing local companies, as well as multinational corporations.

“The special advisory panel has the role of providing insights and feedback to the NSSTF on strategies and policies to enable Malaysia to continue to grow and improve its position in the global semiconductor industry,” the ministry said.

Meanwhile, Collaborative Research in Engineering, Science and Technology (CREST) will function as a secretariat to coordinate knowledge-sharing and strategic planning activities via the NSSTF.

Source: Bernama

Semiconductor task force to focus on incentive, talent aspects of transforming Malaysia’s E&E industry

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Leasing activity for prime logistics warehouses particularly for the Klang Valley, Johor Bahru and Penang remained resilient, with expected rental growth in 2024, despite external headwinds and challenges.

In a statement today, Knight Frank Malaysia executive director of land and industrial solutions Allan Sim (pictured) said the growth is attributed to tight availability of grade A warehouses and strong leasing demand for specific grade A warehouses.

“This year could see rental growth due to price resistance from landlords due to higher construction and financing costs.

“As we witness a measured increase in rents, our emphasis remains on fostering innovation and sustainability in logistics spaces to meet the evolving demands of occupiers,” he said, adding that Kuala Lumpur is holding steady, showcasing stability in the face of global economic fluctuations.

Sim said the local market’s response to these changes underscores the adaptability and forward-thinking nature of Malaysia’s logistics industry.

The expected global recovery in the semi-conductor industry this year will increase the demand for the space particularly in Penang, Kulim, Melaka and Selangor, he said.

“There are more higher-end grade A warehouses scheduled to be completed in 2024 and landlords are increasingly reluctant to compromise on building specification for a lower rental rates.

“We shall also see more landlords undertake redevelopment on older factories/warehouses to modern and higher-specification warehouses,” he added.

Sim, however, said the performance of rental will be subject to the performance of foreign direct investment and domestic direct investment in 2024.

“As we navigate the path ahead, the outlook for logistics in Malaysia remains optimistic, bolstered by our resilience and strategic positioning in the Asia-Pacific landscape,” he said.

Source: Bernama

Prime logistics warehouse leasing activity to stay resilient, likely rental growth, says Knight Frank Malaysia

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Penang Development Corporation (PDC) is developing three industrial parks in the state involving a total investment of RM3.2 billion, including for infrastructure development, in a bid to stimulate the industrial sector’s growth.

Chief Minister Chow Kon Yeow (pictured), who is also the PDC chairman, said these industral parks in South Seberang Perai are expected to be fully completed in 2031, after development started in 2022.

“To continue its legacy of excellence, PDC is actively developing the three parks, namely the 154.6-hectare (ha) Bandar Cassia Technology Park, 251.7ha Batu Kawan Industrial Park 3 (BKIP3), and 70.5ha Penang Science Park South, with a total investment cost of RM3.2 billion.

“The three projects have been going on since 2022, and earthworks have been done prior to the infrastructure works. For the BKIP3, the ground-breaking ceremony will be officiated by Prime Minister Datuk Seri Anwar Ibrahim tomorrow (Friday),” Chow told a press conference here on Thursday.

He said PDC, which is currently seeking more land for industrial parks, had succeeded in making Penang a key investment destination that is dynamic and sustainable through its role in spearheading the development of industrial parks.

Chow said that over the 54 years since the corporation was established, nine industrial parks measuring about 6,100 acres (2,469 hectares) had been developed, including the Bayan Lepas Industrial Park, Seberang Jaya Industrial Park, Perai Industrial Park, Bukit Minyak Industrial Park, Penang Science Park, and Batu Kawan Industrial Park.

He said these industrial parks accommodate 350 multinational and local companies as well as offering job opportunities.

Meanwhile, on Phase 1 of the BKIP2 spanning 226.22ha in Byram, South Seberang Perai, Chow said the development will be carried out via a strategic partnership on a parcel of private land acquired by PDC through the state government, hence it will not involve any land owned by Sime Darby Plantation Bhd in the vicinity.

He said the strategic partnership approach is implemented by inviting property industry players to participate with PDC in industrial park development through an open tender that is now being advertised in stages starting from the pre-qualification stage. The completion of the pre-qualification evaluation will be followed by a request for proposals via invitation.

“The BKIP2 development will be done through a collaboration with the private sector in order to achieve several main goals, including expediting the preparation of industrial lots to be offered to potential investors at choice locations that suit their types of enterprise to ensure competitiveness, and that Penang remains a destination of choice for investors.

“The involvement of the private sector is expected to give rise to better industrial park development approaches and concepts on a par with those in developed countries, besides offering a conducive and diverse ecosystem at the international level,” he said.

Chow said the pre-qualification tender advertisements began appearing in major newspapers and the PDC website on Feb 8, and they will run for six weeks until March 21.

“We invite any experienced and interested company to be PDC’s collaboration partner by participating in the tender exercise,” he added.

Source: Bernama

Chow: PDC developing three industrial parks with total investment of RM3.2b

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PLUS Malaysia Bhd (PLUS) and the Malaysian Highway Authority (LLM) have agreed to simplify the process of developing and growing the number of electric vehicle (EV) charging stations along the PLUS highway, said the Ministry of Investment, Trade and Industry (Miti).

In a statement today, Miti said PLUS and LLM would identify the strategic locations at rest and recreation (R&R) areas and highway lay-bys along the PLUS highway for the charging stations.

“Apart from this, the government has requested sufficient electricity supply at approved EV charging station sites at R&R and the development of new substations at required locations,” the ministry said following the first National EV Steering Committee (NEVSC) meeting in 2024.

Miti said that Tenaga Nasional Bhd (TNB) also briefed the NEVSC that the utility company is analysing the power supply sourcing methods and power use over time to encourage the utilisation of renewable energy (RE) when charging EVs.

Minister of Investment, Trade and Industry Datuk Seri Tengku Zafrul Abdul Aziz elaborated that apart from charging EVs using RE, the government has welcomed suggestions to encourage new business models to optimise EV charging when electricity usage is low.

According to the ministry, port operator Northport (Malaysia) Bhd has raised a safety risk concerning the handling of EV charging in the logistics sector, and the NEVSC has agreed that best practice guidelines on EV charging when conducting logistics dealings are to be ready in six months, to be used as a reference for the industry.

Meanwhile, the NEVSC meeting, chaired by Deputy Prime Minister Datuk Seri Fadillah Yusof, who is also the energy transition and water transformation minister, also discussed issues on improving the procedures and licensing of EV charging stations.

Fadillah said the government has acknowledged the challenges EV charging services operators are currently facing.

“I have instructed the government agencies involved to coordinate and facilitate the relevant regulations, including those concerning licensing matters.

“This is to ensure the development and operation of EV charging stations nationwide will function smoothly and also to holistically support the development of the EV ecosystem without jeopardising the safety aspects,” he added.

Source: Bernama

MITI: PLUS, Malaysian Highway Authority agree to increase highway EV charging stations

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Selangor attracted investments totalling RM41.56 billion for manufacturing and services sectors from January to September 2023, according to Selangor Exco for Investment, Trade and Mobility, Ng Sze Han.

The manufacturing sector attracted RM16.96 billion, with the electronics and electrical (E&E) being the largest sub-sector, followed by fabricated metal products, plastic products, machinery and equipment, and food.

“The most significant sub-sector for the manufacturing sector is E&E which was RM9.75 billion, the second was fabricated metal products at RM2.65 billion, the third plastic products at RM1.18 billion, fourth was machinery and equipment at RM865 million and the fifth is food manufacturing at RM697 million. These are the five main sectors under the manufacturing sector,” Ng told reporters at a press conference to announce the Selangor Chinese New Year 2024 celebration today.

For the manufacturing sector, Selangor targeted RM12 billion last year but it already surpassed the goal by September, with investments for the first nine months of 2023 totalling more than RM16 billion. Foreign direct investment (FDI) for the manufacturing sector edged ahead at RM12.5 billion while domestic direct investment (DDI) stood at RM4.4 billion.

However, Ng stated that FDI and DDI hold equal significance for Selangor’s economic growth.

“We don’t really set the target for FDI and FDI. We set the total target. FDI and DDI are equally important to us. It’s not just about taking care of foreign investors, domestic investors are also very important,” he said.

Meanwhile, the services sector attracted RM24.59 billion with real estate, information and communication, and utilities being the main contributors.

“For the services sector, the most significant was from real estate at RM13.48 billion followed by information and communication at RM5.41 billion and utilities at RM1.9 billion,” said Ng.

He reiterated that Selangor’s investment target for 2024 was increased to RM50 billion compared with RM45 billion for 2023.

“We set a higher target each year so that we can continue to bring more investments into Selangor. Like this morning, the Invest Selangor team, along with the related agency, conducted site visits with investors who entered Selangor state to resolve the issues they faced so that their applications could be processed more smoothly. This is the task and responsibility that Invest Selangor is currently undertaking,“ Ng said.

Meanwhile, the Selangor government will organise the state-level Chinese New Year celebration on Feb 24 at IOI City Mall, IOI Resort City in Sepang, which will be graced by the Sultan of Selangor, Sultan Sharafuddin Idris Shah and Tengku Permaisuri Selangor, Tengku Permaisuri Norashikin.

Source: The Sun

Selangor: RM41.56b manufacturing, services investments in Jan-Sept 2023

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Asia-Pacific Economic Cooperation (Apec) must not falter from advocating open markets and economic cooperation to mitigate further global economic fragmentation, Tengku Datuk Seri Zafrul Abdul Aziz said.

The Investment, Trade and Industry Minister said the forum must amplify the benefits of multilateral trade agreements, exemplified by the Asean Free Trade Area (Afta), Regional Comprehensive Economic Partnership (RCEP), Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and Free Trade Area of the Asia-Pacific (FTAAP).

“These arrangements indeed offer frameworks for collaboration and avenues to collectively address challenges and foster regional economic integration,” he said during the APEC Business Advisory Council (ABAC) gala dinner tonight.

Tengku Zafrul said exposed vulnerabilities from the Covid-19 pandemic along with prolonged geopolitical tensions have led to issues such as disruptions of global supply chains and surge in the costs of goods and logistics.

“One of the key ways to weather this storm is by going at it together. As such, multilateral initiatives such as Apec is crucial to allow collective and continuous efforts to be taken,” he said.

Tengku Zafrul said as the world navigates the “turbulent waters”, APEC’s response must also be comprehensive and forward-looking.

“Therefore, I am pleased to hear that ABAC Peru will focus this year’s workplan on regional economic integration, human development, and sustainability.

“These pillars hold the key to steering the Asia-Pacific region by fostering economic resilience through integration, empowering a skilled and inclusive workforce, and promoting sustainable practices in ensuring long-term viability and global competitiveness,” he noted.

Sharing Malaysia’s perspective, the minister said Apec holds a distinctive significance for the nation.

“It serves as a fundamental pillar of our economic strategy, guiding the formulation of national policies aligned with the region’s collective aspirations.

“Malaysia’s initiatives, spanning the cultivation of a dynamic digital landscape to the preservation of our shared environment, resonate deeply with the core principles of APEC,” he said.

He added Malaysia has its clearest economic direction at present as outlined by the Madani Economy agenda, underpinned by several policies announced last year.

The policies are the New Industrial Masterplan 2030 and the National Energy Transition Roadmap.

The Investment, Trade and Industry Ministry also launched the Chemical Industry Roadmap and the National Industry ESG Framework last year, he noted.

“Similar to Apec’s core principles, Malaysia remains committed to being open and receptive to opportunities and investments, particularly from our long-standing partner economies,” he said.

Tengku Zafrul said in 2022, Apec economies made substantial contributions to the Malaysian economy, constituting an impressive 76.5 per cent of the country’s net foreign direct investment inflows.

“This underscores Malaysia’s steadfast dedication to fostering robust economic partnerships within APEC,” he said.

He also commended the first ABAC (ABAC 1) meeting for 2024 in Kuala Lumpur, which has been productive and fruitful thus far.

Tengku Zafrul said the significance of this three-day meeting that ends tomorrow cannot be overstated as it marks the official commencement of its 2024 workplan, a pivotal roadmap that will culminate in recommendations presented to APEC Economic Leaders at the end of the year.

“These recommendations will play a crucial role in guiding policy formulation to address the pervasive impacts stemming from ongoing economic and geopolitical challenges affecting the Asia-Pacific region,” he added.

Source: Bernama

Apec must not falter from advocating economic cooperation — Tengku Zafrul

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The medical device sector is projected to contribute RM20 billion to the country’s economy this year, supported by the increase in domestic and foreign investments in the sector.

Medical Device Authority Malaysia (MDA) chief executive Dr P. Muralitharan said the sector contributed RM15.1 billion last year which included foreign and domestic investments as well as business expansion and the procurement of related equipment.

“We found that there are several foreign countries which have pledged to invest and start their operations in Malaysia such as the Czech Republic and China.

“Hence, our projection is expected to reach close to RM20 billion this year,” he told the media after the soft launch of the Asian International Medical Technology Exhibition and Conference (Asian Medtec) by Health Minister Datuk Seri Dr Dzulkefly Ahmad here, today.

Muralitharan said Malaysia’s total market share in the medical technology and medical devices segment stood at around eight to 10 per cent of the global market worth €536 billion in 2021.

“We aim to increase the market share to about 10 to 15 per cent within the next few years,” he said.

Asian Medtec plays a pivotal role in solidifying Malaysia’s position as a key hub for medical technology development in Asia, he added.

Meanwhile, Dr Dzulkefly in his speech earlier said the government has listed the medical device sector as one of the key sectors in the National Industrial Master Plan 2030 alongside other major sectors.

“Indeed, this is the first time this sector has been acknowledged at a national level as one of the economic contributors to boost the nation’s economy,” he said, adding that the sector has created about 80,000 jobs since 2010.

Source: Bernama

Medical device sector expected to contribute RM20 bln to economy this year

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The Ministry of Investment, Trade and Industry (Miti) has emphasised the need for a new trade agenda which prioritises fair wages for workers and aims to uphold a robust middle class in both advanced and developing economies.

“Trade has to ensure that workers are well paid, and both advanced economies and developing countries could sustain a robust middle class,” Deputy Investment, Trade and Industry Minister Liew Chin Tong said when officiating the Apec Business Advisory Council (ABAC) meeting’s opening ceremony, hosted by ABAC Malaysia, on Thursday.

“Additionally, we need to ensure trade will help create a better society, and help the government to keep taxes. It’s important to ensure the government is not deprived of a tax base from multinationals. [It] would also have to place climate at its centre, while ensuring that states receive adequate taxes from multinationals to provide services, especially health services, and to ensure social cohesion.

“Trade needs to connect the dots between climate, the sustenance of middle-class society, and ensuring that the workforce is healthy and feels secure enough about their lives, so that they could consume as consumers, not just workers. This is just a general view to explain to Apec (Asia-Pacific Economic Cooperation) member economies that we need to think about the new trade agenda. It can’t be the regurgitation of old cliches, but rather a fresh approach,” he stressed.

ABAC Malaysia, tasked with offering a business perspective to the government for advancing trade in the region, is hosting its first meeting for the year, which provides an opportunity for Malaysia’s private sector to engage with business leaders from the 20 Apec economies, including the US, Australia, Japan, Singapore, and Indonesia. The three-day event is running until Friday.

ABAC Malaysia is represented by three permanent members. They are chairman of RM Capital Partners Datuk Rohana Tan Sri Mahmood, Westports Holdings Bhd executive chairman and group managing director Datuk Ruben Emir Gnanalingam Abdullah, and Petroliam Nasional Bhd (Petronas) president and group chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Aziz.

ABAC Malaysia is also represented by alternate ABAC member Keong Hann Yeoh, who is an executive director of YTL Power International Bhd.

Touching on domestic policies, Liew said Malaysia introduced two ground-breaking national policies last year, namely the New Industrial Master Plan 2030 and the National Energy Transition Roadmap, which is in line with the country’s commitment to APEC’s trade facilitation and closer economic cooperation priorities.

It also demonstrates Malaysia’s emphasis on creation and adoption of cutting-edge technology, prioritising environmental, social and governance (ESG) initiatives, acceleration of energy transition, as well as inclusive growth.

“Specifically on inclusive growth, I highly commend Apec Peru’s efforts this year to promote the transition of informal economic actors to the formal and global economy. Such an initiative resonates well with our priorities, due to the similarities in our economic make-up. As I have constantly advocated, Malaysia needs to envisage ourselves to become a middle-class society, with micro, small and medium enterprises playing a monumental role as the backbone of our economy.

“Through open communication, shared interest, and an unwavering commitment to economic cooperation, we can bridge divides, and fortify a more resilient Asia-Pacific. In order to tap into and leverage the boundless opportunities for growth, public-private partnerships and cooperation between Apec governments and the private sector are key if we are to achieve tangible outcomes,” Liew added.

Source: The Edge Malaysia

MITI calls for new trade approach focused on fair wages and sustaining a robust middle class

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Newly-launched investment and trade agency InvestSarawak will facilitate the ease of doing business in the state.

Deputy Premier Datuk Amar Awang Tengah Ali Hasan, who is Minister of International Trade, Industry, and Investment Sarawak, said InvestSarawak will serve as a one-stop centre and be the first point of contact for all investors.

“InvestSarawak, under the purview of my ministry, is a one-stop centre that aims to transform the investment landscape, as well as increase trade and talent attraction for Sarawak.

“They will play a key role serving as facilitator and adviser to provide invaluable local insights to all investors, both foreign and domestic,” he said during the agency’s launch here last night.

Awang Tengah, who is InvestSarawak board deputy chairman, said the agency will act as the key facilitator for investment projects in Sarawak, providing support across sectors in their development, applications, and approvals.

Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg, who also serves as InvestSarawak board chairman, launched the agency.

The launching ceremony, held in conjunction with the EU-Malaysia Business Day 2024 Networking Dinner, saw the attendance of 18 European Ambassadors led by Ambassador of the EU to Malaysia Michalis Rokas.

Among others present were Deputy Premier Datuk Amar Dr Sim Kui Hian; Minister for Utility and Telecommunication Dato Sri Julaihi Narawi; Women, Childhood and Community Wellbeing Development Minister Dato Sri Fatimah Abdullah; State Secretary Datuk Amar Mohamad Abu Bakar Marzuki; and InvestSarawak chief executive officer Timothy Ong.

Source: Borneo Post

InvestSarawak to be key facilitator for investment projects

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Ambassador of the European Union (EU) to Malaysia, Michalis Rokas, has lauded Sarawak’s move towards green economy, saying such aspirations almost match the green transition taking place in EU countries.

Given this scenario, he said the EU can come with projects and have ideas that can bring answers to these aspirations of Sarawak.

“Actually this is what we are going to explore. I am pretty confident that this type of connectivity, green transition, digitalisation and also all the infrastructure that needs to come with it, can be put together in a holistic project and then we need of course to mobilise EU businesses investments.

“(There is) a mix of grants and loans that come from the EU and they help towards sustainability goals.

“But, definitely hydrogen, sustainable aviation fuel (SAF), digitalisation and connectivity will be key areas where you can focus and create mutual opportunities and mutual benefits,” he said.

He was speaking at a press conference after the EU-Malaysia Business Day 2024 themed ‘Sarawak in Focus’ at Borneo Cultures Museum here yesterday.

Over 100 delegates comprising diplomats from EU countries and representatives from EU companies attended the event, which was graced by Sarawak Deputy Premier Datuk Amar Awang Tengah Ali Hasan.

Rokas said the event, held for the first time ever, was to seek opportunities for cooperation in areas that create sustainable future for everyone.

He revealed that some of those who travelled together included chief executive officers of companies who came to have exchanges with their Sarawak counterparts.

“What we expect is that when the event is over, is to be able to identify three to four or five areas and then prioritise,” he said.

He also revealed they also have the honour to be received by Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg tomorrow, where they will follow up on what they had discussed at the event.

“We will bring these discussions back to our respective capitals and EU headquarters and hopefully you will see us coming a lot more often to Sarawak,” he said.

Source: Borneo Post

Ambassador: Sarawak’s move towards green economy in tandem with aspiration of EU nations

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