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After successfully producing and exporting methanol, Sarawak Petchem Sdn Bhd is now setting sights on another new product – green methanol.

Sarawak Premier Tan Sri Abang Johari Tun Openg set the wheels in motion when he performed the ground-breaking ceremony for the green methanol plant project at Tanjung Kidurong, Bintulu last week.

State-owned Sarawak Petchem chairman Tan Sri Abdul Aziz Husain said green methanol could be used as a sustainable marine fuel for the shipping industry, contributing to a significant reduction in carbon dioxide emissions, which is crucial in addressing climate change.

“This green-methanol project is an important step in our journey towards sustainable energy solutions. With this initiative, we are not only addressing the energy needs of today but also moving towards a more sustainable and climate-resilient future,” he added.

Abdul Aziz said the project would employ water electrolysis technology powered by renewable energy, along with captured carbon dioxide as feedstock in the synthesis of methanol.

Lauding Sarawak Petchem for embarking on the green methanol plant project, Abang Johari said this would serve as a global model of Sarawak’s active participation in shaping the transition to green energy.

“I just came back from Japan and Japanese firms need green energy sources to power ships in an effort to mitigate carbon emission, and they are opting to use methanol or ammonia, particularly green ammonia.

“We know that green ammonia is combined with carbon. By mixing carbon with hydrogen produced using renewable energy, like solar and hydro, we can produce green methanol,” he added.

At the event, the premier also witnessed the official departure of 20,000 tonnes of methanol from Sarawak Petchem in two vessels to China from the Sarawak Methanol Complex in Tanjung Kidurong.

Sarawak Petchem is Malaysia’s second-largest methanol producer after Petronas Chemicals Group Bhd.

According to earlier media reports, some Rm7bil had been invested in the Sarawak Methanol Complex project.

The methanol plant, which was built by South Korea’s Samsung Engineering Co Ltd, has an annual production capacity of 1.75 million tonnes.

The plant is expected to become a catalyst for future growth of the downstream oil and gas sector in Bintulu.

Meanwhile, Sarawak is expected to partner Japanese investors in a joint venture to produce ammonia and hydrogen.

A memorandum of understanding on the partnership is due to be signed in May.

Abang Johari said the planned project will produce hydrogen using the methanol-to-hydrogen process and the cyclohexane process to generate liquid hydrogen for energy.

“Additionally, hydrogen,when mixed with carbon, will produce synthetic gas, which can also serve as a new energy source.

“Japanese Prime Minister Shigeru Ishiba has asked Sarawak to collaborate with Japan to produce ammonia, and we will further use feedstock hydrogen,” he said during a townhall session here last week.

The event marked Abang Johari’s eighth anniversary as Sarawak premier.

Prime Minister Anwar Ibrahim and Abang Johari had held talks with Shiba on various issues, including transforming Sarawak into a regional energy hub, during the latter’s official visit to Malaysia recently.

And according to Deputy Primer Minister and Energy Transition and Water Transformation Minister Datuk Seri Fadillah Yusof, during the Anwar-shibaabang Johari meeting, they had discussed and jointly committed to Sarawak becoming a centre for the development of hydrogen, which will be exported not only to Japan but also other regions as well.

Japan has pledged to invest in Sarawak’s hydrogen-energy sector.

Fadillah said Sarawak’s advancement in hydrogen research has attracted investment interest from countries beyond Japan and South Korea, adding that this would help to position Sarawak as a potential primary hub for the hydrogen economy in Asia.

Anwar had expressed hope that clean hydrogen energy and decarbonisation project between Sarawak Economic Development Corp, Petroleum Sarawak Bhd (Petros) and a Japanese consortium could be facilitated by May this year.

The consortium comprises Japan Petroleum Exploration Co Ltd, GC Holdings Corp and Kawasaki Kisen Ltd.

On Feb 26, 2024, Petros, Petronas CCS Ventures Sdn Bhd and the Japanese consortium signed a Storage Site Agreement for the depleted M3 oilfield, off Sarawak.

The agreement not only enables the feasibility studies of the carbon dioxide storage sites, starting with the depleted M3 field, but also the planning of carbon dioxide storage sites, including onshore terminals and transportation pipelines as well as assessment of its technical and commercial feasibility.

Source: The Star

Sarawak sets sights on green methanol

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The logistics sector in Johor remains poised for growth, bolstered by the productivity of Johor Port and the Port of Tanjung Pelepas (PTP), both of which continue to maintain low vessel dwell times.

Industry experts believe planned developments, such as the Johor-Singapore Special Economic Zone (JS-SEZ), are expected to further solidify Johor’s position as a key logistics hub in Southeast Asia.

MMC group managing director Tan Sri Che Khalib Mohamad Noh Johor continues to be a major logistics hub due to its strategic location, comprehensive land, sea, and air transport infrastructure, deep connectivity and green lanes to Singapore, ample land availability, as well as a strong labour supply.

Che Khalib said the proposed initiatives under the JS-SEZ will foster greater cross-border movement of people, integration, and connectivity between Johor and Singapore, which will in turn intensify cross-border trade and logistics.

“The JS-SEZ will also promote renewable energy, green industrial parks, and one-stop investment centres, which would attract high-value investors that prioritise ESG and reduced carbon emissions,” he told Business Times.

Meanwhile, transport consultant Wan Agyl Wan Hassan said with larger warehousing capacities compared to Singapore and access to well-established ports such as PTP and Johor Port.

“Johor’s proximity to Singapore gives it a golden opportunity to shine as a logistics hub.

“Singapore’s reputation as a global logistics leader is unmatched, but rising costs and limited space there mean Johor can step up as the affordable and scalable alternative,” he said.

Meanwhile, Wan Agyl said the global logistics industry’s current turbulence—driven by the Red Sea crisis and the rising trend of regionalisation—has further highlighted Johor’s potential.

He noted that companies are now seeking alternative routes and warehousing solutions closer to their production and consumption hubs.

“Yes, the Red Sea crisis is a challenge, but it’s also a wake-up call. Global logistics is shifting towards regionalisation, sustainability, and resilience. Johor must seize this moment to position itself not just as a backup to Singapore but as a vital player in the global trade network.

“By focusing on these strategies, Johor might have the chance to thrive in the face of global disruptions,” he said.

Kenanga Investment Bank Bhd has maintained its “neutral” stance on the seaport and logistics sector as the shipping diversion from the Red Sea continues to weigh down on global trade.

However, the firm expects the domestic logistics sector to play a key role in connecting economies that benefitted from the trade diversion due to the United States (US)-China trade tensions.

“Nevertheless, we continue to see a bright spot in the domestic logistics sector, benefiting from the booming e-commerce, the global tech upcycle driven by demand for artificial intelligence, and a resilient US economy,” it added.

Source: NST

Johor’s logistics sector set for growth, driven by Johor Port and PTP productivity

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Malaysia can expect an increase in investment and trade with the United Kingdom (UK) as both countries will have a free trade agreement for the first time through the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz said the CPTPP was a good beginning for companies to gain access into markets in each country from the aspect of tariffs and accessibility.

“This (CPTPP) will certainly encourage our companies to export goods and services to the UK,” he told the Malaysian media covering Prime Minister Datuk Seri Anwar Ibrahim’s working visit to the UK.

Tengku Zafrul said the impact of the CPTPP on bilateral relationships between both countries was discussed when Anwar met his counterpart Sir Keir Starmer on Jan 15 here.

Malaysia ratified the CPTPP in October 2024, joining Peru, Japan, Singapore, Chile, New Zealand and Vietnam in doing so, while the UK joined last December.

CPTPP is an Asia-Pacific trade bloc made up of 11 countries plus the UK. The 11 original members are Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.

On Thursday, Tengku Zafrul and UK Minister of State for Trade Policy and Economic Security, Douglas Alexander held the inaugural ministerial-led Joint Economic and Trade Committee (JETCO) meeting to explore ways to increase bilateral trade and investment.

On future prospect of investment from the UK, Tengku Zafrul said more companies are looking to venture into Malaysia or increase their investments there.

“We managed to get RM11 billion in potential investments during the prime minister’s visit here. The biggest amount is for data centres, with one company wanting to further invest RM5 billion,” he added.

Tengku Zafrul said potential investors were keen to hear from the prime minister himself the situation in Malaysia, and the policies under his administration.

During Anwar’s visit, he attended a roundtable meeting with captains of industry and Invest Malaysia, as well as launching YTL Group’s £2 billion (RM11 billion) housing development and arena north of Bristol, UK.

He also launched Tenaga Nasional Bhd’s 102 megawatt (MW) Eastfield and Bunkers Hill solar farms, as well as visiting the Battersea Power Station, which is Malaysia’s largest investment involving public funds in Europe.

“These are private investments. Yet they are expected to bring tremendous benefits to Malaysia through profits, dividends and also imports of goods and services from Malaysia for their projects here,” he added.

The UK is Malaysia’s fourth largest trading partner in Europe, with total bilateral trade amounting to RM15.3 billion (US$3.34 billion) in the first 11 months of 2024.

Source: Bernama

Increase in investment, trade with UK amid CPTPP: Tengku Zafrul

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Malaysia can generate potential investments of RM11 billion and potential exports of RM500 million following Prime Minister Datuk Seri Anwar Ibrahim’s official visit to the United Kingdom (UK).

“The potential investments involve the renewable energy, digital economy, automotive, banking, real estate and petrochemical sectors.

“While the potential exports generated are for equipment and aircraft components, furniture and food and beverages,“ said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz in post on X on Sunday.

For 2024, the total Malaysia-UK trade up till November was RM15.3 billion, with exports worth RM7.83 billion and imports worth RM7.47 billion.

“In terms of investment performance, as of September 2024, a total of 486 manufacturing projects by UK companies had been implemented with a total investment of RM12.49 billion generating 41,630 job opportunities for Malaysians,” he added.

The UK is Malaysia’s fourth largest trading partner in Europe.

Source: Bernama

Malaysia attracts potential investments of RM11b, RM500m potential exports to UK

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Malaysia is the perfect gateway into Southeast Asia, especially with the participation of the United Kingdom (UK) in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) of which Malaysia is also a member.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz had in a session organised recently by Standard Chartered Bank, the UK-ASEAN Business Council and the British Malaysian Chamber of Commerce, explained the various advantages of Malaysia as a regional hub for UK companies.

“It would be a pity if UK companies don’t take advantage of this unfolding opportunity to explore business opportunities in Malaysia and ASEAN,” he said in a post on X on Sunday.

Tengku Zafrul was one of the Cabinet ministers who followed Prime Minister Datuk Seri Anwar Ibrahim on a five-day working visit to UK.

Malaysia ratified the CPTPP in October 2024, joining Peru, Japan, Singapore, Chile, New Zealand and Vietnam in ratifying the agreement, while the UK joined last December.

Source: Bernama

Malaysia the gateway into Southeast Asia market – Tengku Zafrul

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Prime Minister Datuk Seri Anwar Ibrahim’s visit to the United Kingdom (UK) has successfully attracted RM11 billion in potential investments across various sectors, including renewable energy and the digital economy.

Speaking to the Malaysian media during a press conference here, Anwar also highlighted that the export potential to be generated over the next five years amounts to RM500 million, encompassing products such as aircraft equipment and components, furniture, as well as food and beverages.

He said that this development reflects strong international confidence in Malaysia’s economy and signifies the growing cooperation between Malaysia and the UK government.

“There has been a noticeable surge in interest and readiness to invest during discussions with business leaders facilitated by the Malaysian Investment Development Authority (Mida), the Malaysia External Trade Development Corporation (Matrade), and the Investment, Trade and Industry Ministry (MITI),” he said.

During his five-day working trip to the UK, the prime minister also met with several major UK corporations, including Standard Chartered and Jaguar Land Rover.

Anwar said that the UK government, led by its Prime Minister, Keir Starmer, is set to strengthen its cooperation and relations with Malaysia, with plans for a visit from UK Development Minister Anneliese Dodds to Malaysia next month, followed by Indo-Pacific Minister Catherine West in March.

“This indicates the commitment to invest RM11 billion across various sectors, including automotive, digital, renewable energy, banking, real estate, and petrochemicals,” he said.

Anwar’s visit marked his first trip to the UK as prime minister, where he met with Starmer at No. 10 Downing Street on Wednesday.

After the meeting, Starmer posted on X, describing the relationship between the UK and Malaysia as “close and historic,” emphasising that “from investment to trade and education, the UK’s ties with Malaysia are stronger than ever.”

Anwar noted that trade between the two nations is expected to grow, particularly with the UK’s inclusion in the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

“Through the CPTPP, Malaysian companies’ participation in contracts, professional services, and the export of goods from Malaysia will be easier.

“Major companies such as YTL, Tenaga Nasional Bhd, Gamuda, and EcoWorld, which have significant investments and projects in the UK, will also benefit from it,” he explained.

Additionally, under the CPTPP, Malaysia’s palm oil and rubber exports, which were previously subject to tariffs of 12 per cent and 6.5 per cent, respectively, will now benefit from tariff-free access to the UK market.

Source: Bernama

Anwar’s UK visit attracts potential investments worth RM11 billion

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Deputy Sarawak Premier and Minister of Public Health, Housing and Local Government Datuk Amar Prof Dr Sim Kui Hian welcomes small and medium enterprises (SMEs) to explore the vast potential of business opportunities in Sarawak.

He said that Sarawak’s economy has been at the forefront recently, compared to the past when its economy has been lagging behind.

However, Dr Sim said Sarawak has abundant resources and potential, and “will surely catch up and surpass West Malaysia.”

“Sarawak’s future economic sector focuses on the development of new energy and green economy, including hydrogen energy.

“Also, with the aging population and rising medical costs, small and medium-sized enterprises can also explore the potential in related fields, especially in the field of medical research,” he said.

He made his remarks during the East-West Business Networking Event organised by the Sarawak SME Association on Saturday night. The event acts as an investment attraction for Sarawak and sharing Sarawak’s economy and potential areas with business representatives from China and West Malaysia.

Dr Sim jokingly mentioned that there were “too many people wanting to invest in Sarawak”.

“In other words, the threshold for investing in Sarawak has been raised,” he affirmed.

President of SME Association Sarawak, Jordan Ong, noted that the East-West Business Networking Event attracted about 150 business representatives.

“We have several associations joining us tonight – we have 20 members from the Malaysian Chamber of Commerce and Industry (MayCham) in China, coming all the way from Guangzhou.

“We also have about 20 representatives from the Youth Entrepreneurs Division of SME Malaysia, which is our sister association.

“The last association is the Malaysia-China Chamber of Commerce (Sabah Branch). Through their support, they have about 50 over entrepreneurs flying over.”

Ong said the networking event serves as a point to link with other regions like Sabah and West Malaysia.

“To us, I feel that it is a good platform, not only for our members in Sarawak, but also for them to explore Sarawak.

“We want to attract more investment, policy investment into Sarawak, so we can build the economy together.”

Source: The Borneo Post

Dr Sim: Plenty of investment opportunities in Sarawak

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Prime Minister Datuk Seri Anwar Ibrahim held one-onone business meetings with several leading companies during his visit to the United Kingdom.

One of the meetings was with Standard Chartered Bank (SCB), which was led by its chief executive officer Bill Winters.

According to Malaysian officials, SCB is exploring collaboration with the Malaysian and Singapore governments to facilitate global business entry into the Johor-singapore Special Economic Zone (SEZ).

Anwar also met officials from Jaguar Land Rover, Raw Energy and Yondr, which has an ongoing project at Sedenak Tech Park, Johor, Bernama reported.

Also present were Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, Higher Education Minister Datuk Seri Dr Zambry Abdul Kadir and Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani.

Earlier, Anwar attended a roundtable meeting with captains of industry in the United Kingdom, joined by 53 leading industry players from 30 companies and organisations.

Among them were Airbus UK, GKN Aerospace, British Malaysian Chamber of Commerce, Shell and BAE Systems.

Both Malaysia and the United Kingdom have also held their first ministerial-led Joint Economic and Trade Committee meeting, marking the strengthening of already robust trade relations.

The United Kingdom was Malaysia’s 21st largest trading partner from January to November last year, as well as the fourth largest trading partner in Europe.

Bilateral trade in goods between the two countries amounted to Rm15.29bil.

This could grow further now that the United Kingdom has joined the Comprehensive and

Progressive Agreement for Transpacific Partnership (CPTPP), giving Malaysia and the United Kingdom their first formal free trade agreement.

The United Kingdom’s participation in the CPTPP came into force on Dec 15, 2024.

A statement from the Investment, Trade and Industry Ministry said yesterday that Tengku Zafrul and the United Kingdom’s Trade Policy and Economic Security Minister Douglas Alexander held positive discussions in London to explore ways to enhance bilateral trade and investment.

“Both ministers support an ambitious joint working plan to strengthen bilateral cooperation in priority areas such as legal services, education, standards and compliance assessments, agriculture, and small and medium-sized enterprises,” the statement said.

The meeting also touched on potential cooperation in areas such as customs, Islamic finance, cooperatives and social enterprises.

“Both parties are committed to continuing close cooperation to support businesses in Malaysia and the United Kingdom, effectively leveraging this (first and formal free trade agreement),” the ministry added.

Source: The Star

PM meets leading UK companies to boost trade ties

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Malaysia is gearing up to launch its second chip design park less than a year after establishing the first in Selangor, as it seeks to solidify its global semiconductor supply chain position.

Prime Minister Datuk Seri Anwar Ibrahim said Malaysia was establishing itself as a prime mover in data centres and artificial intelligence among Asean countries while advancing efforts to explore the myriad possibilities of cryptocurrency.

However, he said Malaysia must remain focused on progress rather than celebrating short-term achievements.

“Recently, we launched our National Semiconductor Strategy, which earmarks game-changing incentives and investment to make Malaysia indispensable to the global semiconductor supply chain.

“(Malaysia) is already the world’s sixth largest exporter of semiconductors and is now aiming to move further up the value chain through a targeted focus on front-end activities.

“And we are hitting the ground running: in the coming weeks, we will launch our second chip design park less than a year after our first,” he said during his lecture entitled “The Adaptive Edge: Malaysia’s Global Strategy in an Uncertain Era” at the London School of Economics and Political Science today.

Anwar, who is also finance minister, said that while Malaysia is moving forward in semiconductor development, it is also making efforts to do this sustainably.

“Malaysia is committed to moving away from existing conventional power generation, increasing renewable energy composition to 70 per cent of the total generation capacity by 2050.”

Malaysia previously launched its first semiconductor integrated circuit (IC) design park in Puchong as part of Malaysia’s plans to move up the value chain in the semiconductor industry and “Made by Malaysia” ambitions.

The Malaysia Semiconductor IC Design Park, set up in collaboration with the federal government, international semiconductor firms, and venture capitalists, aims to position Malaysia as a potential powerhouse in the global IC design industry.

The strategic initiative is designed to leverage Malaysia’s technological capabilities and resources, foster innovation, and advance the country’s reputation in high-tech manufacturing and design.

The park site was meticulously chosen after an extensive evaluation process among the locations in Klang Valley.

Anwar: Malaysia solidifying global semiconductor position with 2nd chip design park

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The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) sets the stage for greater growth in trade, investment, and the exchange of knowledge and know-how between Malaysia and the United Kingdom (UK), but hard work lies ahead.

In making the remark, Prime Minister Datuk Seri Anwar Ibrahim said: “We have promises to keep, and miles to go before we can call it a day. Hard work still lies ahead.”

He emphasised the need for proactive capacity building and technical cooperation under CPTPP, not only among large companies but especially with the millions of small and medium enterprises across Malaysia and the UK.

His comments were made in a lecture at the London School of Economics, titled “The Adaptive Edge: Malaysia’s Global Strategy in an Uncertain Era”, which was attended by about 500 students.

“Only by doing so can Malaysia and the UK truly optimise linkages and maximise the agreement’s potential to realise complementarities, supercharge shared growth, and create opportunities that are inclusive for businesses and communities on both sides,” said Anwar, who is also the Finance Minister.

“(Hence), we look forward to taking these ties to newer heights through the CPTPP. Malaysia lauds and welcomes the UK’s recent accession, marking the first free trade agreement that connects our two nations.”

With high-quality provisions, including comprehensive tariff reductions, streamlined rules, and enhanced investment protection, CPTPP opens new markets for both British and Malaysian companies, Anwar added.

CPTPP is an Asia-Pacific trade bloc comprising 11 countries plus the UK. The original 11 members are Australia, Brunei Darussalam, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam.

Source: Bernama

Malaysia, UK must proactively capitalise on CPTPP benefits – PM Anwar

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NexV Manufacturing Sdn Bhd (NMSB) and Global NEV Technology Sdn Bhd (GNEV) have inked a memorandum of understanding (MoU) to explore strategic collaborations in the assembly and manufacturing of new energy vehicles (NEVs) in Malaysia.

A joint statement said the collaboration aims to enhance the NEV ecosystem in Malaysia, and will initially focus on knocked-down operations while GNEV intends to enter into a contract assembly arrangement with NMSB.

“The primary objective of this MoU is to establish a framework for collaboration between NMSB and GNEV in developing Malaysia’s green technology facility dedicated to manufacturing and assembling NEVs.

“Specific activities under the MoU will be detailed in a definitive agreement, which both parties aim to sign by mid-February 2025,” it said.

Once a definitive agreement is signed, the collaboration may see its first commercial electric vehicle roll out from the NMSB’s production line as early as the first quarter of 2026 (1Q 2026), the statement said.

NMSB, a joint venture between Careplus Group Bhd and GoAuto Group Sdn Bhd, aims to lead Malaysia’s transition to sustainable and green automotive technology by constructing the country’s first dedicated green technology manufacturing facility.

The NEV plant in Chembong, Negeri Sembilan, is set to open in 2Q 2025, and will support Malaysia’s shift to sustainable mobility while boosting the economy and creating jobs in the region.

Source: Bernama

NexV Manufacturing, Global NevTechnology ink partnership for commercial EV assembly

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The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade agreement is a critical vehicle to expand and facilitate investment and trade between Malaysia and the United Kingdom.

Prime Minister Datuk Seri Anwar Ibrahim said this was made possible by the move by both countries to enter the agreement.“In fact, I chose to express my appreciation to the United Kingdom premier for successfully entering the CPTPP agreement. It takes serious political commitment on the part of the United Kingdom and Malaysia, focusing on economic fundamentals in the interest of both nations to promote free trade,” he said here.

Anwar was speaking at the launch of the YTL Group’s Brabazon New Town development in Bristol, the largest city in the South West of England.

Malaysia ratified the CPTPP in October 2024, joining Peru, Japan, Singapore, Chile, New Zealand and Vietnam in doing so, while the United Kingdom formally joined last December. Under this framework, tariffs for products by member countries will be reduced to zero.

The premier also praised YTL, which is the largest Malaysian investor in the United Kingdom, for its resilience and for continuing to make strides in the country.

Source: Bernama

PM: CPTPP a critical vehicle to expand investment

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Malaysia, as Asean Chair, is committed to fostering even closer integration, deepening trade, economic and energy integration within the region and with the rest of the world, says Datuk Seri Anwar Ibrahim.

The Prime Minister said a prime example is the Johor-Singapore Special Economic Zone (JS-SEZ), which is set to unlock Johor’s potential while leveraging its proximity to Singapore to attract investments and create high-value economic opportunities.

“Likewise, we will prioritise enhancing regional energy cooperation through the Asean Power Grid, a critical initiative for advancing the region’s energy transition,” he said at the InvestMalaysia programme here yesterday.

Malaysia is Asean Chair for 2025.

On Jan 7, Singapore and Putrajaya exchanged an agreement on the JS-SEZ, a unique initiative where two countries work together to help promote both nations and attract investments.

Anwar said that key steps include integrating Thai and Laos energy grids into the broader Asean network and exporting Sarawak’s hydroelectric power to Singapore.

These efforts mark a significant stride towards strengthening energy security and accelerating clean energy transition in the Global South.

He said Malaysia will also ensure that Asean remains a neutral platform for dialogue and cooperation in the Asia Pacific region.

Lauding the United Kingdom’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Anwar this will unlock access to key markets for Malaysian exports such as palm oil, rubber and timber.

“At the same time, we are eager to explore partnerships with other economies in the Global South, including BRICS nations, to open new channels of commerce,” he said, Bernama reported.

Earlier in his address to an esteemed group of investors, Anwar said that Malaysia’s economic outlook for 2024 and beyond is increasingly positive, emerging as a beacon of growth and resilience in South-East Asia and bolstered by its Asean chairmanship.

He said strong gross domestic product growth, policy stability and rising foreign direct investment have rekindled global interest in Malaysia’s capital markets and positioned the country as one of the leading investment destinations in the region.

Anwar said the government has dedicated the past two years to improving governance, enhancing transparency, intensifying anti-corruption efforts and at the same time implementing comprehensive fiscal reforms.

“To this end, my administration has dedicated the past two years to strengthening governance by enhancing transparency and intensifying anti-corruption efforts,” he said.

He said the government has also pursued comprehensive fiscal reforms, with a strong commitment to gradually and sustainably reducing the fiscal deficit while reinforcing fiscal responsibility to ensure long-term economic resilience and stability.

Source: The Star

Malaysia offers huge potential to investors, says PM

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Business sentiment among Japanese companies in Malaysia has improved for the fourth consecutive year, even as competition intensifies, according to the Financial Year 2024 Survey by the Japan External Trade Organisation Kuala Lumpur (Jetro).

In a statement, Jetro said Malaysia’s profitability rate exceeds the Asean average, with the expected operating profit margin for 2024 at 70.8 per cent, and the nation stands out as the only major Asean country to record consistent growth over the past four years.

According to the survey, 48.9 per cent of the companies plan to promote local human resource development and employment and are mulling on expanding their business in the post-Covid era.

The Survey on Business Condition of Japanese Companies Operating Overseas Asia/Oceania Edition involved Japanese companies operating in 20 countries and regions, conducted from Aug 20-Sept 18, 2024.

“The operating profit outlook for 2025 shows that the percentage of companies expecting an improvement has increased in all countries compared to 2024, with Malaysia’s forecast showing a slight increase to 41.9 per cent.

“In the post-Covid era, Malaysia has outperformed other major countries in several initiatives: local human resource development (58.8 per cent), employment increase (35.8 per cent), and the promotion of decarbonisation (24.9 per cent),” it said.

The survey also revealed that the percentage of companies considering business expansions in the next one to two years remains at 48.9 per cent.

Over 70 per cent of the respondents are concerned about rising labour costs, and high employee turnover is the most serious problem among major Asean countries.

It also found that inflation-related cost increases will affect supply chain management, leading to the transfer of electrical and electronics production to Malaysia.

Additionally, 83.5 per cent of companies responded that they are either already working on or planning to take on decarbonisation efforts.

Source: Bernama

Survey: Japanese firms rank Malaysia as Asean’s profitability leader

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Malaysia’s economic outlook for 2024 and beyond is increasingly positive as the country emerges as a beacon of growth and resilience in South-east Asia, bolstered by its Asean Chairmanship in 2025.

Prime Minister Datuk Seri Anwar Ibrahim said strong gross domestic product (GDP) growth, policy stability, and rising foreign direct investment (FDI) have rekindled global interest in Malaysia’s capital markets and positioned the country as one of the leading investment destinations in the region.

Malaysia’s GDP growth forecasts have been revised upward and are likely to exceed 5.0 per cent in 2024, with a further robust growth of 4.5 per cent to 5.5 per cent expected in 2025.

In 2024, Malaysian equities also broke years of regression, buoyed by a string of upgrades from leading global research firms.

Malaysia also led Asean in initial public offering (IPO) activities, closing the year as one of Southeast Asia’s best-performing benchmark indices.

In his address to an esteemed group of investors in London, United Kingdom, Anwar, who is also the finance minister, said the government has dedicated the past two years to improving governance, enhancing transparency, and intensifying anti-corruption efforts.

At the same time, comprehensive fiscal reforms have been implemented, with a focus on gradually reducing the fiscal deficit while ensuring long-term stability.

“To this end, my administration has dedicated the past two years to strengthening governance by enhancing transparency and intensifying anti-corruption efforts,” he said.

The prime minister said the government has also pursued comprehensive fiscal reforms, with a strong commitment to gradually and sustainably reducing the fiscal deficit while reinforcing fiscal responsibility to ensure long-term economic resilience and stability.

This, in turn, is underpinned by Malaysia’s forward-looking policy roadmaps, including the New Industrial Master Plan (NIMP) 2030, National Energy Transition Roadmap (NETR), and National Semiconductor Strategy (NSS), Anwar said.

He said these policies are bolstering Malaysia’s role in the global semiconductor value chain and helping us to support the surging demand for artificial intelligence (AI), data, and computing power across Asia.

Hence, Anwar said Malaysia is committed to building on these strong foundations in the year ahead and aims to attract high-quality investments that advance economic complexity, accelerate progress toward net-zero goals, safeguard economic security, and drive technology adoption.

He added that all these offer immense potential for investors.

Source: Bernama

Malaysia projects 5pc GDP growth in 2024 as PM Anwar courts London investors

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Sime Darby Property Bhd is joining hands with Singapore-based YCH Group, a supply chain solutions outfit, to develop logistics hubs in Malaysia, Vietnam and other Asean markets.

The two companies inked a memorandum of understanding (MOU) for the proposed partnership at the sidelines of the 102nd Asean Business Advisory Council (Asean-BAC) Meeting on Thursday.

According to Asean-BAC, the first major milestone will be the development of a landmark logistics facility in Sime Darby Property’s port-centric township of Bandar Bukit Raja in Klang, Selangor. The facility is expected to cost at least RM300 million and will be modeled after YCH’s flagship Supply Chain City in Singapore.

“The collaboration aims to boost economic growth through durian exports, strengthen ties among Asean member states, enhance Philippine agricultural practices, create jobs, and pave the way for future food security projects,” said Asean-BAC in a statement.

The MOU was one of three announced during a press conference by the Asean-BAC on Thursday, including one signed by Malaysia’s Bornion Green Sdn Bhd and the Philippines’ Yovel East Research and Development Inc to establish a Musang King durian plantation in the Philippines.

The third MOU was one entered into between the Canada-Asean Business Council and Asean-BAC to boost trade and investment between Asean and Canada, particularly via the Asean-Canada Free Trade Agreement (ACAFTA).

Sime Darby Property’s shares closed unchanged at RM1.47 on Thursday, giving the group a market capitalisation of RM10 billion.

Source: The Edge Malaysia

Sime Darby Property to partner Singapore’s YCH Group to develop logistics hubs in SEA

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Malaysia’s supply chain and logistics industry received a boost today as over 150 industry leaders convened for the “Future of Supply Chains: Optimising, Planning, and Automating for Success” forum, co-organised by the Malaysian Investment Development Authority (MIDA) and Ally Logistic Property (ALP).

The forum focused on digitalisation, automation, and sustainable practices in logistics, aiming to strengthen Malaysia’s position as a logistics hub amid global supply chain shifts.

In a statement joint statement with ALP today, MIDA deputy chief executive officer (investment development) Zalina Zainol said the government is committed to supporting the sector’s transformation through targeted incentives and initiatives.

“The country is well positioned to seize the opportunities created by global shifts in supply chains, but to fully capitalise on these opportunities, we must ensure that our infrastructure and logistics services are equipped to meet evolving demands.

“The government is assuming a proactive role to encourage innovation through the introduction of the income tax exemption for Smart Logistics Complex companies in Budget 2025, promoting the adoption of Industry 4.0 technologies in warehousing and logistics to drive smarter and more efficient operations,” she said.

Zalina added that at MIDA, the focus is on promoting innovation and sustainability, with initiatives like the Domestic Investment Accelerator Fund (DIAF) playing a key role in helping businesses, especially small and medium enterprises (SMEs), adopt smarter and more sustainable practices.

“We are also committed to supporting the digital transformation of Malaysian logistics companies, especially in areas like e-commerce and e-fulfilment.

“As of September 2024, MIDA has approved 111 Integrated Logistics Services (ILS) projects worth RM12.85 billion and granted International Integrated Logistics Services (IILS) status to 301 companies,” she said.

Meanwhile, the statement said the forum featured two key sessions, the first focusing on supply chain optimisation, with SPX Express and Ninja Van sharing strategies for improving workflows, inventory management, and last-mile delivery through digital transformation.

The second addresses automation, with insights from 7-Eleven Malaysia and Quicktron Singapore on robotics and software in logistics. “Participants gained invaluable hands-on exposure to cutting-edge technologies and witnessed live demonstrations throughout the forum.

“The event served as a powerful platform for strategic partnership building during targeted networking sessions and offered comprehensive insights into government initiatives supporting automation and digitalisation,” the statement added.

Source: Bernama

Over 150 Industry Leaders Attend MIDA-ALP Forum On Future Of Supply Chains

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Malaysia stands out as a noteworthy destination for investors, supported by the country’s political stability and its capacity to adapt to the rapidly evolving technological landscape.

Prime Minister Datuk Seri Anwar Ibrahim said these are significant factors capturing the interest of global investors.

Additionally, the government’s strategic focus on critical sectors such as energy, artificial intelligence, and semiconductors are also making the country more attractive among global investors, he said in his Facebook post on Thursday (Jan 16).

Anwar said these factors were highlighted during his address at the launch of the YTL Group’s Brabazon New Town development in Bristol on Wednesday, the largest city in the South West of England.

The prime minister is currently on a five-day working visit to the United Kingdom which started on Tuesday (Jan 15).

He is accompanied by Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Higher Education Minister Datuk Seri Dr Zambry Abdul Kadir, and Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani.

Source: Bernama

Malaysia stands out as noteworthy investment destination, says Anwar

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A significant simplification of the nation’s research and development (R&D) tax incentives, alongside reformation of the grant system, will be included in the 13th Malaysia Plan (13MP), according to Economy Minister Datuk Seri Rafizi Ramli.

He said the changes aim to address long-standing concerns about the complexity and accessibility of existing mechanisms supporting innovation and business growth.

“The new R&D tax incentive framework will streamline processes, removing unnecessary bureaucratic hurdles that have deterred businesses, particularly small and medium enterprises, from fully benefiting from such schemes.

“The focus is on making the system user-friendly, ensuring that businesses can easily understand and claim these incentives,” Rafizi said at a 13MP engagement session with industry players today.

In addition to the tax incentive reforms, a comprehensive overhaul of the grant system will be included in the plan, Rafizi disclosed.

“This initiative seeks to reduce the layers of complexity that currently hinder businesses from accessing critical funding. By simplifying application processes and eligibility criteria, the government aims to foster a more inclusive and efficient allocation of resources.”

Rafizi said the reforms are part of a broader strategy to enhance the nation’s competitiveness in the global market while ensuring that public resources are effectively utilised.

“The new measures will include clearer guidelines and improved communication with stakeholders, ensuring businesses understand how to navigate the updated systems. The goal is to build trust and confidence among businesses that these incentives and grants can deliver meaningful support,” he explained.

Rafizi said businesses and industry groups have long advocated for such reforms, pointing to the barriers posed by overly complicated processes. “These updates are expected to alleviate frustrations and encourage broader participation across sectors.”

The government will release further details on the implementation timelines and specific changes to the R&D tax incentives and grants soon.

Despite allocating more than RM1 billion annually for R&D, Rafizi noted, there remain significant gaps in translating research into market-ready innovations.

He shared that his ministry, alongside the Ministry of Investment, Trade and Industry, is working on a comprehensive plan to also enhance R&D commercialisation, and foster collaboration among academia, public institutions and the private sector.

“This initiative, expected to be presented to the Cabinet within the next few months, will play a crucial role in positioning Malaysia as a leader in high-value industries and global competitiveness,” he added.

Furthermore, Rafizi said, the 13MP will not only focus on reforming R&D tax incentives and the grants system but also address broader systemic challenges to strengthen the country’s economic structure.

“We are taking a sector-specific approach to economic reform, including energy transition plans under the National Energy Policy. These reforms aim to create a robust foundation for Malaysia’s economic growth and its ability to adapt to global changes.”

The minister said one key focus is optimising Malaysia’s supply chain and logistics system, pointing out that inefficiencies in the supply chain, such as the high logistical costs of moving goods across regions unnecessarily, have hindered economic efficiency.

“By investing in infrastructure, data systems, and regulatory frameworks, the government plans to enable regional distribution systems that minimise costs and improve transparency in pricing. These efforts are part of a broader strategy to streamline the movement of goods and ensure consistency in the supply chain,” he added.

Rafizi also said SMEs face challenges in scaling up and integrating into larger value chains.

“Efforts to strengthen the SME sector will focus on addressing structural barriers and creating opportunities for growth, ensuring that SMEs continue to drive innovation and economic resilience,” he added.

Source: The Sun

Rafizi: R&D tax incentive, grant frameworks will be simplified, overhauled under 13MP

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Malaysia’s economic outlook for 2024 and beyond is increasingly positive as the country emerges as a beacon of growth and resilience in Southeast Asia, bolstered by its ASEAN Chairmanship in 2025.

Malaysia’s GDP growth forecasts have been revised upward and are likely to exceed 5.0 per cent in 2024, with a further robust growth of 4.5 per cent to 5.5 per cent expected in 2025.

In 2024, Malaysian equities also broke years of regression, buoyed by a string of upgrades from leading global research firms.

Malaysia also led ASEAN in initial public offering (IPO) activities, closing the year as one of Southeast Asia’s best-performing benchmark indices.

In his address to an esteemed group of investors in London, United Kingdom, Anwar, who is also the Finance Minister, said the government has dedicated the past two years to improving governance, enhancing transparency, and intensifying anti-corruption efforts.

At the same time, comprehensive fiscal reforms have been implemented, with a focus on gradually reducing the fiscal deficit while ensuring long-term stability.

“To this end, my administration has dedicated the past two years to strengthening governance by enhancing transparency and intensifying anti-corruption efforts,” he said.

He added that all these offer immense potential for investors.

Source: Bernama

Malaysia’s economic renaissance offers immense potential for investors – PM Anwar

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Malaysian Investment Development Authority (MIDA) has co-organised a forum on supply chain with Ally Logistic Property (ALP) to explore innovative solutions and opportunities for reshaping Malaysia’s supply chain landscape.

The “Future of Supply Chains: Optimising, Planning and Automating for Success” forum saw participation from 150 industry leaders and featured two high-impact sessions addressing the industry’s most critical challenges and opportunities

MIDA deputy chief executive officer (investment development) Zalina Zainol said Malaysia has always been recognised as a reliable and well-connected logistics hub.

The country, she added, is well positioned to seize the opportunities created by global shifts in supply chains.

However, to fully capitalise on these opportunities, it must ensure that its infrastructure and logistics services are equipped to meet evolving demands.

“The government is assuming a proactive role to encourage innovation through the introduction of the income tax exemption for Smart Logistics Complex companies in Budget 2025.

“This initiative promotes the adoption of the Industry 4.0 technologies in warehousing and logistics, driving smarter and more efficient operations,” she said.

As of September 2024, MIDA approved 111 integrated logistics projects projects worth RM12.85 billion and granted International Integrated Logistics Services status to 301 companies.

ALP Omega 1 Bukit Raja is backed by the Employees Provident Fund which holds a 70 per cent stake in the project.

“The integration of smart technologies into logistics is not just the way forward— it is a game-changer that will shape the future of our industry,” said ALP chief executive officer Charlie Chang.

Source: NST

MIDA, EPF-linked ALP hold forum on reshaping Malaysia’s supply chain landscape

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The potential implementation of export limitations by the US government on artificial intelligence (AI) chips is not expected to impact the operations of existing data centres in Malaysia, according to deputy minister of investment, trade and industry (Miti) Liew Chin Tong.

After his keynote speech at the CEO Series: Economy & Business Forum on Thursday, Liew said the Malaysian government will take a cautious, evaluative stance to better understand how these proposed restrictions might influence future developments and partnerships.

“We will engage in internal discussions, collaborate with key stakeholders, and also reach out to the incoming US administration to gain a clearer understanding of the extent of the regulatory changes,” he said.

Liew added that Malaysia, along with other countries classified under Tier 2, has prepared strategies to manage the potential challenges.

Under these proposed restrictions, the American companies would be permitted to request blanket approval for shipping chips to data centres globally, with stipulations that no more than 25% of their total computational capacity is located outside of Tier 1 nations, and no more than 7% is situated in any single Tier 2 country.

Meanwhile, Liew highlighted the importance of Malaysia fortifying its internal economic infrastructure to foster mutual benefits for both local and foreign investors, noting that many of Malaysia’s industrial parks have become overly concentrated on real estate development, which fails to advance the nation’s broader economic objectives.

“As the global supply chain has shifted over recent years, it is clear that investors are drawn to Malaysia not simply because of our numerous industrial parks, but because of the strength and depth of our ecosystem,” Liew explained.

He added that while factories may be interconnected on a global scale, they often lack sufficient domestic linkages.

Source: The Edge Malaysia

Malaysia’s data centres unaffected by US AI chip export restrictions, says deputy Miti minister

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A local vendor development programme jointly curated by the Malaysian Investment Development Authority (Mida) and Infineon Technologies (Kulim) Sdn Bhd will benefit 139 local companies.

The programme, which has attracted over 190 participants, is a new initiative aimed at enhancing the capabilities of local companies to support the growing semiconductor industry in Malaysia.

Mida chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said that developing a resilient and competitive semiconductor ecosystem requires both technological advancement and human capital development

“At Mida, we are providing local suppliers with structured platforms to enhance their technological capabilities while ensuring their workforce is equipped with the skills needed for next-generation semiconductor manufacturing,” he said in a joint statement on Wednesday.

He added that the Mida-Infineon partnership has fostered high-value collaborations that drive industrial transformation and competitiveness.

Infineon senior vice president and managing director Ng Kok Tiong emphasised Infineon Kulim’s commitment to supporting local vendors in understanding the complex requirements of high-technology wafer fabrication manufacturing.

“By creating a pool of vendors who can provide high-value and reliable services, we can directly support our growth in Malaysia.

“Sustainable vendor development is crucial in today’s dynamic and challenging business environment,” he said.

Meanwhile, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said that Mida and Infineon’s public-private programme enables Malaysian companies to harness advanced manufacturing technologies, including artificial intelligence (AI) and smart connectivity solutions.

“This is exactly the kind of initiative envisaged by the New Industrial Master Plan 2030 and National Semiconductor Strategy towards strengthening our industrial ecosystem.

“As we empower local vendors to integrate cutting-edge technologies and drive efficiency within global companies’ supply chains, Malaysia will also be in a better position to benefit from the AI revolution while attracting further investments into the country,” he added.

In August 2024, Infineon inaugurated the first phase of its highly efficient 200-millimeter silicon carbide (SiC) power fabrication in Kulim.

This investment has significantly strengthened the local semiconductor ecosystem and solidified Infineon’s role as a reliable partner within the growing semiconductor hub in Malaysia.

Source: Bernama

MIDA-Infineon local vendor development programme to benefit 139 Malaysian companies

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Investors have full freedom to choose where to invest in Malaysia, without government restrictions, whether the states are governed by the ruling party or the opposition, said a senior aide to Prime Minister Datuk Seri Anwar Ibrahim.

“After discussions are carried out, it is the investors themselves who choose the state based on their suitability,” said Datuk Azman Abidin, political-secretary to Anwar yesterday.

“For instance, if an investor feels that their investment would be suitable in Perlis and receives good cooperation in the state, they are welcome to invest in Perlis, Kedah, or any state, including those under the opposition.”

Azman said that government agencies such as the Malaysia External Trade Development Corporation (MATRADE) and the Ministry of Investment, Trade and Industry (MITI) can facilitate investors looking to invest in opposition states.

“MATRADE and MITI can act as facilitators to assist these investors who wish to invest in opposition-led states. This includes verification matters before they negotiate with local representatives,” he said.

Azman said Anwar’s growing international reputation has positively influenced investors’ confidence to invest in Malaysia.

“I can say that foreign investors are eager to invest in this country because they are impressed with our hardworking and globally recognised Prime Minister. For example, Japan’s Prime Minister (Shigeru Ishiba) chose Malaysia recently, saying that one of his primary reasons was to meet Datuk Seri Anwar Ibrahim, as he had heard about his remarkable reputation and global popularity,” he said.

Malaysia continues to hold a prominent position on the global investment radar. In the first half of 2024, the country secured RM160 billion in investments, an 18 per cent year-on-year increase, driven by strong economic fundamentals.

Azman, who was on a one-day visit to Perlis, engaged with 600 underprivileged individuals across the three constituencies of Kangar, Arau, and Padang Besar. At the Ihsan Madani Contribution event, Azman disbursed a total of RM120,000 in cash, with each recipient receiving RM200.

Source: NST

Investors free to choose business locations, says PM’s aide

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The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) trade agreement will be a critical vehicle to expand and facilitate investment and trade between Malaysia and the United Kingdom (UK).

Prime Minister Datuk Seri Anwar Ibrahim said this was made possible by the move by both countries to enter the agreement.

“In fact, I chose to express my appreciation to the UK premier for successfully entering the CPTPP agreement.

“It takes serious political commitment on the part of the UK and Malaysia, focusing on economic fundamentals in the interest of both nations to promote free trade,” he said here on Wednesday.

Anwar was speaking at the launch of the YTL Group’s Brabazon New Town development in Bristol, the largest city in the South West of England.

Malaysia ratified the CPTPP in October last year, joining Peru, Japan, Singapore, Chile, New Zealand and Vietnam in doing so, while the UK formally joined last December.

Under this framework, tariffs for products by member countries will be reduced to zero.

Anwar also praised YTL, which is the largest Malaysian investor in the UK, for its resilience and for continuing to make strides in the country.

YTL made its first investment in the UK in 2002 with the acquisition of Wessex Water.

The award-winning Bristol Brabazon development is set to transform the historic Filton Airfield site into a Copenhagen-inspired project that will allow people to access the essential services they need such as workplaces, schools, shops, public transport, healthcare and green spaces within a 15-minute radius of their home.

Besides the 6,500 high-quality sustainable homes, it will also house three new schools and a new urban park, the largest to be built in the South West in over 50 years.

At the launch, YTL Group executive chairman Tan Sri Sir Francis Yeoh Sock Ping said YTL is committing to invest a further £4 billion (RM21.96 billion) into the UK over the next five years.

Anwar, who is here for a five-day working visit, said that by participating in overseas ventures, Malaysian businesses could deepen their global market ties, contributing to Malaysia’s aspirations of expanding its trade footprint through international frameworks such as the CPTPP.

During the visit, Anwar is accompanied by Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Higher Education Minister Datuk Seri Dr Zambry Abdul Kadir, and Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani.

Source: Bernama

PM: CPTPP a critical vehicle to expand investment, trade between Malaysia and UK

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