Kuala Lumpur, 20 March 2024 – The Malaysian Investment Development Authority (MIDA) and Enterprise Singapore (EnterpriseSG) had enhanced the jointly managed Malaysia-Singapore Business Development Fund (MSBDF) for Third Countries. Businesses are highly encouraged to tap into the fund, which was first established in 2004 to strengthen cooperation between the private sectors of both countries.

A significant enhancement to the provisions of the MSBDF agreement was agreed upon on 30 October 2023 between YB Senator Tengku Datuk Seri Utama Zafrul Aziz, Malaysia’s Minister of Investment, Trade, and Industry (MITI) and H.E. Gan Kim Yong, Singapore’s Minister of Trade and Industry. The fund facilitates both countries to jointly pursue opportunities in third countries and conduct joint pilots in each other’s country, especially in emerging areas such as green economy and digital economy.

Tengku Zafrul said, “Malaysia and Singapore’s unique relationship is underscored by our geographical, as well as long-standing economic and shared cultural ties. The joint business objectives MSBDF reflect the depth and breadth of those ties, making it easier to leverage on existing synergies for both nations’ private sectors to explore business and investment opportunities in third countries. The enhancements to MSBDF make it more conducive for future collaborative efforts. We strongly encourage businesses to tap into the MSBDF, another important platform through which we can create and deliver more tangible benefits for our people and businesses.”

Reinforcing this viewpoint, Datuk Wira Arham Abdul Rahman, the Chief Executive Officer of the Malaysian Investment Development Authority (MIDA), expressed his contentment with the ongoing collaboration. “Our partnership with Enterprise Singapore highlights Malaysia’s prominent role in fostering regional economic growth. We are committed to significantly expanding our economic cooperation, encouraging the private sectors of both countries to delve into the digital and green economies. Through initiatives like Joint Trade Missions, Joint Feasibility Studies, and Joint Pilots, we are dedicated to promoting economic expansion. Moreover, MIDA is poised to facilitate companies that are keen to explore these new avenues, ensuring a streamlined process for those looking to capitalise on the opportunities presented by the MSBDF.”

The MSBDF, administered by MIDA and Enterprise Singapore (EnterpriseSG), welcomes applications from Malaysian and Singaporean businesses and associations.

Malaysian SMEs can visit MIDA’s official website https://www.mida.gov.my/invest-in-malaysia/business-facilitation/ for further details on guidelines, eligibility criteria, application procedures and funding mechanisms.

***THE END***

About MIDA

MIDA is the Government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

For media enquiries please contact:

Mr. Nazuki Abdullah
Director of Cross Border Investment Division Malaysian Investment Development Authority (MIDA)
Email: [email protected] / [email protected] | DL: +603-2267 6688

Companies Encouraged to Utilise Malaysia-Singapore Business Development Fund (MSBDF) to Tap Into Commercial Opportunities in Third Countries

PENANG, 18 MARCH 2024 – QES Group Berhad (QES), a global leader in the semiconductor industry, is advancing in its commitment to sustainable practices and innovation, aligning with Malaysia’s vision to be a front-runner in Environmental, Social and Governance (ESG) leadership in Southeast Asia.  This commitment is exemplified through its latest initiative; the establishment of RM40 million plant in Batu Kawan Industrial Park, Penang (QES 2@BKIP) and its adoption of solar energy as a renewable source to decrease reliance on conventional electricity.

QES 2@BKIP is designed to minimise its environmental impact and integrate with its surroundings, aiming to achieve green building certification by utilising eco-friendly materials and implementing renewable energy solutions. This project is expected to create 100 high-quality job opportunities within 3 years.

YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of Investment, Trade and Industry (MITI) remarked, “The New Industrial Master Plan (NIMP) 2030 has clearly laid out Malaysia’s industrial reform journey towards achieving higher economic complexity, technological prowess, sustainability, as well as economic inclusivity. The convergence of two or more of these objectives through NIMP’s target sectors will help speed up our industrial reform, and we see this in QES’s upcoming plant where innovative hi-tech semiconductor manufacturing meets sustainability. Such convergence will also help Malaysia’s manufacturing sector move up the global value chain more quickly, while creating better-paying jobs for our people, and contributing to our net zero future.”

Datuk Wira Arham Abdul Rahman, CEO of the Malaysian Investment Development Authority (MIDA), highlights the significance of the ESG theme in reshaping contemporary business practices, particularly within the semiconductor industry. He commends QES, stating, “QES’s sustainability goals dovetail seamlessly with the prevailing trend among companies and investors to prioritise ESG considerations. I am heartened to see their dedication to innovation and sustainability, evidenced by their prioritisation of renewable energy solutions and eco-friendly materials. With ESG now a top priority, collaborative partnerships are essential for semiconductor firms to make progress on decarbonisation. MIDA stands fully supportive of such endeavours, recognising their potential to not only generate high-quality job opportunities but also shape a more sustainable future for generations to come.”

“QES is committed and taking significant steps in achieving our ESG milestones as we recognise the undeniable importance of sustainable practices, therefore we prioritise achieving operational profitability whilst focusing on the ESG criteria as critical components in business sustainability. QES is confident that QES 2@BKIP will further reinforce our presence and foster our efforts for growth and success” said Chew Ne Weng, Group Managing Director of QES Group Berhad.

Simultaneously, QES 2@BKIP will be used to house the joint venture company, Applied Engineering Technology (M) Sdn. Bhd. (“AETM”) with its USA counterpart Applied Engineering Inc. This will double AETM’s factory space from its current rented facility of 18,000 square feet to approximately 30,000 square feet and doubling its manpower requirements over the next 3 years.

With a focus on ESG principles, QES is poised to lead the way towards a more sustainable future, positioning the company as a leader in the semiconductor industry and in Malaysia’s vision for a sustainable future.

– End –

About MIDA
MIDA is the government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram, Facebook, LinkedIn, TikTok and YouTube.

About QES Group Berhad
QES Group Berhad (“QES” or the “Group”) is listed on the Main Board of Bursa Malaysia Securities Berhad. Through its subsidiaries, QES Group is principally involved in the manufacturing, distribution, and provision of engineering services for inspection, test, measuring, analytical and automated handling equipment.

The Group serves customers from a broad range of industries primarily semiconductor, electrical & electronics, automotive & metal, petrochemical and mining industry.

QES is listed under the Industrial Products & Services Sector (Name & Code: QES & 0196).

For more information about QES Group Berhad, please visit https://www.qesnet.com/.

For more information, please contact:

MIDA
Ms. Zakiah Sajidan
Director of Machinery & Metal Technology Division
T: 03-2267 6769
E: [email protected]

QES Group Berhad
Ms. Alicia Chan
Sr. Personal Assistant to the Group Managing Director
Telephone: 03-5882 6668
Email: [email protected]

QES Group Berhad Empowers ESG via Its New RM40 Million Manufacturing Plant in Penang

• In Emerging and Developing Asia, Malaysia excels, especially in Financial Services and Institutional Framework, surpassing the regional average.

• Globally ranked 5th for Investors’ Rights, highlighting Malaysia’s dedication to securing a trustworthy investment environment.

• High rankings in Business Perception, Financial Services, and Institutional Framework categories underscore Malaysia as a comprehensive investment destination.

• Malaysia stands above the rest in Emerging and Developing Asia by exceeding the average in all GOI categories, showcasing its broad-based appeal.

• With solid investment conditions, Malaysia offers a relatively lower-risk environment, promising stability and growth potential.

Kuala Lumpur, Malaysia, 15 March 2024 – In light of the recent Global Opportunity Index (GOI) 2024 report by the Milken Institute, which distinguished Malaysia as the leading nation among Asia’s emerging and developing countries in terms of overall investment conditions, the Malaysian Investment Development Authority (MIDA) proudly acknowledges this landmark achievement. Malaysia’s commendable global rank of 27, surpassing regional competitors like Thailand and China, marks a significant milestone in the nation’s economic development journey.

Highlighted in the report, Malaysia emerges as a standout among the top ten (10) countries in emerging and developing Asia, boasting a strong institutional framework and balanced strengths across economic, financial, and regulatory domains. Surpassing its counterparts in all five (5) categories of the Global Opportunity Index, Malaysia offers a comparatively lower-risk investment landscape, setting it apart from other developing Asian markets.

This prestigious ranking is a direct reflection of the relentless efforts by the Malaysian Government, spearheaded by the Ministry of Investment, Trade and Industry (MITI), with MIDA playing a crucial role in enhancing the ease of doing business and smoothing out the investment process across the nation. From extensive trade and investment missions to forging international partnerships, Malaysia’s concerted efforts are bearing fruit, unlocking potential investments worth billions. Notably, the recent strategic Working Visit to Germany, led by the Prime Minister Dato’ Seri Anwar Ibrahim, together with the Minister of Investment, Trade, and Industry YB Senator Tengku Datuk Seri Utama Zafrul Abdul Aziz, marked a significant milestone with prospective investments amounting to RM45.4 billion. This venture, coupled with a similarly fruitful mission to Australia, which resulted in commitments from Australian companies to invest RM24.5 billion, underscores Malaysia’s adeptness in navigating the international investment landscape.

A Commitment to Excellence and Continuous Improvement

MIDA has been at the forefront of implementing strategies and initiatives aimed at improving Malaysia’s investment landscape. By focusing on reducing bureaucratic hurdles, enhancing transparency, and ensuring a competitive and supportive environment for both domestic and international investors, MIDA has contributed significantly to this international recognition.

“MIDA is dedicated to building upon this success by continually enhancing our services and support systems for investors,” said Datuk Wira Arham Abdul Rahman, Chief Executive Officer of MIDA. “Our goal is to not only maintain Malaysia’s position as a prime investment destination in Asia but also to elevate our standing on the global stage. We are devoted to making Malaysia the ultimate investment sweet spot by ensuring a more seamless and efficient investment process across the nation.”

In alignment with the sentiments expressed by the MITI Minister YB Senator Tengku Datuk Seri Zafrul Abdul Aziz, MIDA reiterates its commitment to addressing the key pain points along the investor’s journey and optimising the investment climate in Malaysia. Future initiatives will focus on digitalisation, sustainability, and innovation, ensuring Malaysia remains attractive to sectors that are pivotal for future economic growth, aligning with policies in place such as the New Industrial Master Plan 2030, the National Energy Transition Roadmap and the Twelfth Malaysia Plan.

MIDA’s strategic approach includes enhancing partnerships, both locally and internationally, to foster a collaborative investment environment. These efforts are part of a broader national strategy to secure Malaysia’s position as the gateway to Asia for investors seeking growth, innovation, and sustainability.The recognition by the Milken Institute underscores the effectiveness of Malaysia’s economic policies and the concerted efforts of all stakeholders, including government agencies, industry players, and the investment community. MIDA, in collaboration with MITI and other Ministries and Agencies at both federal and state levels, will continue to drive forward Malaysia’s investment agenda and ease-of-doing-business, leveraging the country’s strategic location, political stability, robust infrastructure, and dynamic workforce.

As Malaysia strides into the future, MIDA invites investors from around the globe to explore the diverse opportunities in the country that is not only strategically positioned but is also committed to fostering responsible and sustainable investments and building an inclusive economic landscape for the nation.

***THE END***

About MIDA

MIDA is the Government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

For media enquiries please contact:

Ms. Fatmah Ahmad
Director of Corporate Communications Division
Malaysian Investment Development Authority (MIDA)
Email: [email protected] | DL: +603-2267 2428

MIDA Celebrates Malaysia’s Top Ranking in Global Investment Conditions by Milken Institute

Bukit Tagar, Selangor, 13 March 2024 – J&T Berjaya Alam Murni Sdn. Bhd. (JBAM), a collaborative venture among Berjaya Enviro Holdings, J&T Recycling Corporation of Japan, and JFE Engineering (M) Sdn. Bhd. is proud to announce the inauguration of its state-of-the-art Waste-to-Energy (SWTE) Plant at Bukit Tagar Enviro Park (BTEP). This cutting-edge SWTE facility, integral to the Sustainable Scheduled Waste Treatment Centre (SSWTC), features a highly efficient thermal scheduled waste treatment system in compliance with the standards set by the Department of Environment (DOE) Malaysia.

The opening ceremony was graced by YBrs. Dr. Norhazni Binti Mat Sari, Deputy Director General of Operation, DOE Malaysia, Ministry of Natural Resources and Environmental Sustainability. Among the distinguished guests were Mr. Sivasuriyamoorthy Sundara Raja, Deputy Chief Executive Officer, Investment Promotion and Facilitation, of the Malaysian Investment Development Authority (MIDA) and H.E. Katsuhiko Takahashi, Ambassador of Japan to Malaysia.

Datuk Wira Arham Abdul Rahman, Chief Executive Officer of MIDA, commended JBAM’s partnership on pioneering waste management solutions in Malaysia, stating, “This venture addresses growing need for comprehensive waste management facilities driven by our nation’s industrial growth. Waste management stands as a critical issue in the country, and the Malaysian Government is proactively enhancing the system to address environmental concerns and promote sustainable waste practices. The SSWTC plant exemplifies JBAM’s commitment to corporate responsibility, setting a benchmark for local businesses to address the scarcity of such facilities. In an era where environmental, social, and governance (ESG) principles are paramount, initiatives like these are crucial for promoting sustainable development and effectively tackling climate change challenges.”

In his address, Mr Koh Chee Yong, the Managing Director of JBAM, emphasised the successful realisation of the SWTE project is the culmination of efforts involving dedicated team members, crucial support from government authorities and various stakeholders. This includes DOE, MIDA, Malaysian Green Technology and Climate Change Corporation (MGTC), JFE Engineering, Amita Corporation and the project’s financier, Ambank Group.

The event marks an ultimate milestone in the strategic collaboration between Berjaya Enviro Holding, J&T Recycling Corporation and JFE Engineering (Malaysia) since the conceptualisation of the project back in 2017 and is looking forward to continue the collaboration with JFE in exploring future opportunities for the development of environmental related projects in Malaysia.

“We would like to thank Government Authorities, DOE Malaysia, MIDA, MGTC, Ambank and all our customers from industrial and private sectors for the continuous support and wish to reiterate that the SWTE plant is another significant step by BTEP towards the aspiration of effectively “Setting the Benchmark for Sustainable Waste Management”.”

“The SWTE plant is our newest facility within the SSWTC inside BTEP designed for thermal treatment of scheduled waste with a heat energy recovery system to increase the recycling rate of scheduled waste via our synergistic operations in BTEP.  It is also worth to note that 250 direct jobs have been created to support the management and operation and maintenance of the SWTE Plant,” he added.

BTEP stands as an integrated treatment centre for both municipal solid waste and scheduled waste in Malaysia, reflecting Berjaya Enviro Group’s commitment to advancing the circular economy. Aligned with the Cradle-to-Cradle concept promoted by the DOE, the modern facilities, including the 12 MW Landfill Gas to Renewable Energy plant and the 100% Scheduled Waste to Alternative Raw Material (ARM) Recycling plant, assume pivotal role in transforming waste into valuable resources and renewable energy.

These initiatives resonate with our nation’s sustainability agenda and green technology development goals. Notably, these projects have received significant supports from MIDA, through tax incentives and facilitation of collaborations with various government agencies.

The aspirations set forth in the New Industrial Master Plan 2030, particularly within Mission 3: Push for Net Zero, are significantly bolstered by robust waste management strategies. JBAM aims to foster sustainable economic growth and pave the way for a more environmentally conscious future in Malaysia. This project is particularly warmly embraced, aligning seamlessly with our promoted activities, as underscored by the enhanced tax incentives announced in the Budget 2024. The optimistic anticipation is for the actualisation of additional waste management facilities, fulfilling the objective of efficient waste management and the adoption of high technology and high value-added practices.

***End***

About MIDA
MIDA is the government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram, Facebook, LinkedIn, Tik Tok and YouTube.

About J&T Berjaya Alam Murni Sdn Bhd (JBAM)
J&T Berjaya Alam Murni Sdn Bhd (JBAM) is a joint-company comprise of Berjaya Enviro, J&T Recycling Corporation of Japan and JFE Engineering (M) Sdn Bhd to undertake the development and management of Sustainable Schedule Waste Treatment Centre (SSWTC) located in Bukit Tagar, Hulu Selangor, Malaysia. The SSWTC is an Integrated Waste Management Facility approved by the Department of Environment that can receive, treat and disposed 76 out of 77 Scheduled Waste Codes, namely clinical, toxic and hazardous waste generated from medical facilities, small, medium and heavy industries.

For media enquiries, please contact:

MIDA
Mr. Nelson Samuel
Director of Green Technology Division
Tel:03-22673635
Email: [email protected]

J&T Berjaya Alam Murni Sdn Bhd
Mr. Peter Wong
Chief Executive Officer
Tel: 03-26886333
Email: [email protected]

JBAM Inaugurates Its RM172 Million New and State-of-the-Art Scheduled Waste-to-Energy Plant

Achieving over 60% Completion Towards Yielding Abundance Economic Spillovers Across Four States

Kuala Lumpur, March 8, 2024 – The Malaysian Investment Development Authority (MIDA) has organised the first-of-its-kind Seminar on the East Coast Rail Link – Economic Accelerator Project (ECRL-EAP) Business and Investment Opportunities together with our strategic partners, the Malaysia Rail Link Sdn. Bhd. (MRL) and PLANMalaysia. This milestone event marks a significant stride forward following the signing of the Memorandum of Understanding (MoU) between the MIDA and China Communications Construction Company Ltd. (CCCC) in 2019 in Beijing, China.

The seminar was officially inaugurated by YB Senator Tengku Datuk Seri Utama Zafrul Abdul Aziz, Minister of Investment, Trade and Industry (MITI), and witnessed the attendance of key figures Federal and State Governments such as Chairman of MIDA, Tan Sri Dato’ Seri Dr. Sulaiman Mahbob; CEO of MIDA, Datuk Wira Arham Abdul Rahman; CEO of MRL, Datuk Seri Darwis Abdul Razak; and Director General of PLANMalaysia, TPr Dr. Alias Rameli, as well as State Executive Council Members from Kelantan, Terengganu, and Selangor: YB Mejar (B) Dato’ Haji Md Anizam Bin Ab Rahman, YB Tuan Mohd Nurkhuzaini Ab Rahman, and YB Tuan Ng Sze Han; Deputy State Secretary (Development) of Pahang, YH Dato’ Ali Syahbana Bin Sabaruddin. This gathering of over 200 participants from GLICs, property developers, industry leaders, SMEs and business associations underscored the seminar as a vital platform for fostering networking, collaboration, and insight sharing.

In his keynote address, YB Senator Tengku Datuk Seri Utama Zafrul Abdul Aziz, Minister of MITI lauded, “The ECRL is poised to be a game-changer for Malaysia, linking us more closely to the Pan-Asia railway network and enhancing our connectivity with ASEAN and the EURASIA regions. Valued at almost RM75 billion, the ECRL – linking Kelantan, Terengganu, Pahang and Selangor – is also a cornerstone for socio-economic growth and is expected to increase Malaysia’s GDP by 3.78% by 2047.”

He highlighted that, as of February 2024, the project has reached an impressive completion rate of 62.4%, with the alignment in each state progressing steadily towards the finish line. This current completion rate underscores the ECRL-EAP’s crucial role in driving economic parity across Malaysia, in line with the New Industrial Master Plan 2030 agenda, especially Mission 4, which focuses on safeguarding economic complexity and security, to further promote inclusivity and shared prosperity.

Chairman of MIDA, Tan Sri Dato’ Seri Dr. Sulaiman Mahbob, expressed, “As we aim for a united, prosperous, and dignified Malaysia, it’s essential to focus on restructuring our economy towards innovation and high-value, knowledge-based activities. The ECRL project is a cornerstone of this vision, promising to generate business and employment opportunities, particularly in industrial parks, logistics hubs, and transit-oriented developments.”

The Chief Executive Officer (CEO) of MRL, Datuk Seri Darwis Abdul Razak said, “We anticipate the ECRL to accelerate the shift of cargo movements from road to rail to help ease congestion and environment-related concerns such as lower carbon footprints when it operates in less than three years’ time. Furthermore, the ECRL will be an electrified rail network that will be operated with renewable energy, thus, providing green logistics for Peninsular Malaysia and in particular the East Coast states.”

He further added, “The ECRL–EAP aims to maximise the potential of the 20 ECRL stations that will be featured along the ECRL corridor, consisting of 10-passenger only stations and another 10 stations combining for passenger & freight. This corresponds with the business model projection of the ECRL, wherein it anticipates that 70 percent of its revenue will primarily come from the freight sector, with the remaining 30 percent stemming from passenger services.”

A highlight of the event was the official handover of the ECRL Integrated Land Use Master Plan (PeGTaECRL) from Director General PLANMalaysia to the CEO of MIDA. This momentous occasion signifies a new chapter in Malaysia’s strategic development, with the PeGTaECRL, serving as a blueprint for development along the ECRL routes. Focused on the 20 strategically identified stations, the plan aims to attract investments and foster harmony between the country’s East and West Coast regions. The collaboration between PLANMalaysia and MIDA underscores a commitment to integrated planning, economic growth, and regional connectivity. By aligning land use planning with transportation infrastructure, the PeGTaECRL aims to optimise development opportunities, enhance connectivity, and promote balanced progress across the country’s east and west coasts.

MIDA, alongside its strategic partners, is committed to promoting the ECRL-EAP to its fullest potential. Local and international investors are invited to participate in these economic transformative projects, while stakeholders are encouraged to engage in capacity-building activities to drive the project’s success.

-END-

About MIDA
MIDA is the government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

About MRL
MRL, a wholly-owned subsidiary of the Minister of Finance (Incorporated) [MOF (Inc.)], is the project owner of the ECRL. It is an electrified railway project by the Government of Malaysia linking the East Coast states (Kelantan, Terengganu, Pahang) to the Klang Valley region.  ECRL connects state capitals, major urban centres, industrials hubs, ports, airports, and tourism zones and it interchanges with existing railway line in Peninsular Malaysia. ECRL is poised to help boost Malaysia’s economy and is also part of the East Coast Economic Region (ECER) Masterplan to achieve equitable growth and development between the east coast and west coast of Peninsular Malaysia. The ECRL is scheduled for operation in January 2027 and expected to link Kota Bharu to ITT Gombak in 4 hours as compared to 7 hours by road transport or some 12 hours or more during festive seasons.

For more information, please contact:

MIDA
Sukri Abu Bakar
Director, Domestic Investment Division
Tel.: +603-2267 3685
Email: [email protected]

MRL
Yong Min Wei
Tel.: +6012 3866 123
Email: [email protected]

The First-Of-Its-Kind Seminar on East Coast Rail Link – Economic Accelerator Project (ECRL – EAP) Business and Investment Opportunities

Kuala Lumpur, 8 March 2024 – The Ministry of Investment, Trade and Industry (MITI) and the Malaysian Investment Development Authority (MIDA) are taking proactive and positive steps in response to Goodyear’s decision to close its manufacturing facility in Shah Alam. It’s essential to highlight the ongoing strategic dialogue between MITI, MIDA, and Goodyear that precedes this announcement. This dialogue, a testament to our collective preparedness, has ensured that the closure aligns with broader strategic objectives and exemplifies the adaptability and strength of our partnership.

Importantly, Goodyear, alongside its shareholders, has been in close coordination with the Government well before this decision was publicised, working diligently to establish a support framework for the employees. This pre-emptive collaboration demonstrates our collective commitment to the well-being of the workforce, underlining that our efforts to assist the affected employees is undertaken with foresight and responsibility.

Approximately 550 employees will be directly affected by the shutdown. Goodyear emphasises its dedication to handling this transition with the utmost respect and transparency for all its employees and associates. This development is part of Goodyear’s global move aimed to achieve USD1.0 billion in annualised cost savings by 2025. The company has been operating at a loss since 2017, prompting a strategic shift towards optimising its operations. As part of its restructuring, Goodyear has indicated plans to transition from manufacturing to a distributor business model, focusing on premium profitable segments, building capability in sales and marketing, strengthening the distribution network, and improving the cost structure.

To mitigate the impact on the affected workforce of Goodyear, the Government, through initiatives led by MITI and MIDA, has mobilised specialised team to facilitate job placements, as well as offering upskilling and reskilling programmes. In helping affected parties for job placement, previous efforts have been shown effective, turning challenges into opportunities.Leveraging its experience, MIDA has actively engaged with PERKESO and Jabatan Tenaga Kerja through the newly formed Invest Malaysia Facilitation Centre to facilitate job placement assistance for employees from various sectors. This collaborative effort underscores the potential for similarly effective support mechanisms to be extended to those affected by the Goodyear’s Shah Alam plant closure, demonstrating a committed approach to workforce transition and resilience.

This intervention is a testament to our unwavering commitment to supporting our local workforce through transformative industrial changes, drawing on previous successful collaborations with companies undertaking similar rationalisation as part of their business plans for closure or downsizing, ensuring workers are well-positioned for new and fresh job opportunities. This situation underlines the importance of MITI and MIDA’s commitment to supporting affected workers and fostering resilience.  This also reflects our adaptability and determination to secure the well-being of the workforce and the economic vitality of the nation.

Building on this resilient foundation, Malaysia achieved a historic investment performance in 2023. With a remarkable RM329.5 billion of approved investments across various economic sectors, this is a testament to the strength of the country’s policies designed to foster growth and investment opportunities. Notably, within the manufacturing sector alone, which accounted for RM152 billion of the total approved investments, a significant portion—62.9%, or RM95.5 billion—originated from existing businesses expanding and diversifying their operations. This indicates a strong vote of confidence from established companies in Malaysia’s economic stability and growth prospects.

MIDA’s analysis of annual project implementation reveals a consistent and noteworthy trend: over 85% of approved manufacturing projects in 2021 and 2022 have been implemented. For approved projects in 2023, already 50.1% of these have reached the implementation stage. It is to be noted that this is highly encouraging, considering that manufacturing projects will generally take 18 to 24 months to complete, depending on the level of complexity of each project.

Such achievements reflect Malaysia’s substantial potential for delivering attractive returns amidst its journey towards becoming a developed and inclusive economy. Moreover, the nation’s notable improvement from 32nd to 27th in the 2023 IMD World Competitiveness Ranking serves as a clear testament to the confidence placed in Malaysia by the global investment community.

The Government, through MITI and MIDA, remains steadfast in our dedication to advancing our goals under the MADANI Economy Framework, driving quality job creation and economic benefits to our rakyat. Our emphasis on innovation and sustainability positions Malaysia as a global model of progress and environmental stewardship, ensuring a prosperous and responsible future for all.

***THE END***

About MIDA

MIDA is the Government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

For media enquiries please contact:

Ms. Fatmah Ahmad
Director of Corporate Communications Division
Malaysian Investment Development Authority (MIDA)
Email: [email protected] | DL: +603-2267 2428 

MITI and MIDA’s Proactive Response and Support Amid Goodyear’s Shah Alam Plant Shutdown

The new facility will serve as a hub for research and development (R&D), manufacturing and distribution of furniture fittings, catering to global customers’ demands

Penang, 5 March 2024 – Actiforce, a global leader in the furniture components industry originating from the Netherlands, has officially achieved a new milestone in Malaysia with the opening of its new state-of-the-art plant in Penang. The high-technology facility stands as a testament to Actiforce’s commitment to innovation, sustainability, and continued growth. The RM50 million manufacturing facility will be instrumental in the comprehensive production of integrated furnishing tools for ergonomic furniture designs and solutions, with a focus on using the finest raw materials, ensuring product quality control and meeting distribution targets.

Actiforce has been elevating work spaces since 2004, catering to international markets while constantly improving processes for sustainable manufacturing to meet customers’ demands in lifestyle improvement. As part of Germany’s Hettich Group, one of the world’s largest and most successful manufacturers of furniture fittings, Actiforce will be able to benefit from the Group’s extensive worldwide network. ‘Hardware manufacturer’, Hettich Group develops and produces innovative functional fittings and convertible platforms – from drawer and runner systems to hinges and foldings, and sliding door systems, combining intelligent technology, multifunctionality, comfort and design for homes, offices, industry, hospitality, education and healthcare needs.

Actiforce’s new plant will serve as the hub for R&D, manufacturing and distribution of furniture fittings to cater to international markets, namely Europe and The United States of America. It will be instrumental in Actiforce’s global expansion. The move to consolidate manufacturing capabilities in one area, creating a comprehensive one-stop centre, exemplifies Actiforce’s commitment to lean manufacturing and delivering better value to customers. The company aims to enhance the local economy, generate employment opportunities for the local community, and solidify its position as a key contributor to regional prosperity.

Actiforce is committed to smart manufacturing practices with its state-of-the-art facility equipped with the latest technology and cutting-edge machinery. Investments in special robotic welding and Trumpf machines are designed to revolutionise manufacturing processes, ensuring precision, speed, and adaptability. This will enable Actiforce to enhance productivity, reduce wastage, prioritise sustainability and workplace safety in an effort to manufacture exceptional and efficient products that are industry-relevant, and that distinguish itself in the market.

YAB Tuan Chow Kon Yeow, Chief Minister of Penang stated, “Often lauded for its well- developed industrial ecosystem, Penang is proud to host Actiforce as the State continues to showcase its capacities and capabilities to support the needs of industrial players in next- generation technologies and growth strategies. I am optimistic that Actiforce will continue to reap many benefits from its operation in Penang, the Silicon Valley of the East.”

Datuk Wira Arham Abdul Rahman, Chief Executive Officer of the Malaysian Investment Development Authority (MIDA) underscores Actiforce Mechatronic Technology (M) Sdn.

Bhd.’s commitment to Malaysia’s industry supply chain stating, “The Government affirms Actiforce’s confidence in Malaysia’s furniture parts and fittings sector, recognising its potential to meet global demand. The presence of premium components and skilled expertise not only enhances the nation’s competitiveness in furniture manufacturing but also stimulates growth across the value chain of various industries and consumer products.”

“The nation proudly boasting 2,600 established projects in fabricated metal-based products with investments over RM40 billion and supported by 170,000 skilled workforce to welcome more global manufacturers, like Actiforce leverage on Malaysia’s robust industrial ecosystem. With the increasing technological development and advancement of high-quality components by companies like Actiforce, Malaysia’s position as a global supply chain and distribution hub is further solidified,” he added.

The opening of the new plant will pave the way towards creating employment opportunities for local talents across various categories. Currently, Actiforce has over 50 high-quality talents. As the business expands, the workforce is expected to triple with job opportunities for a broader range of specialists and generalists. In addition to creating jobs, Actiforce is committed to equipping talents with the right skills as they immerse themselves in new technologies, and comprehensive training programmes in specialised fabricated tools. Experts and specialists from Hettich headquarters are also ready to guide and upskill the local talents. Actiforce has allocated 2,000 hours of employee training by German experts to introduce these new technologies. This reflects Actiforce’s commitment to not just create jobs but also invest in relevant programmes to boost their skills and expertise across different roles throughout the organisation.

The new state-of-the-art facility located at Bukit Minyak Industrial area, spans approximately 13,300 sq ft. Actiforce projects that the new plant will generate a revenue of RM148 million for the year 2024, with 99% contributing to the export market.

Mr. Harry Slingerland, the Chief Financial Officer of Actiforce commented, “We are thrilled to inaugurate our new facility in Penang, a significant milestone in our journey of global expansion. This state-of-the-art facility reflects our commitment to pushing the boundaries of innovation and delivering unparalleled quality in our products and services. Penang has proven to be an ideal location for Actiforce due to its strategic positioning, skilled workforce, and the supportive business environment provided by the local community and government. We are excited about the opportunities that this facility will bring, not only for Actiforce but also for the Malaysian economy.

“We appreciate our working relationship with MIDA and the Penang State government. Their invaluable support has paved the way for our growth, and we eagerly anticipate a fruitful and lasting business partnership as Actiforce extends its footprint in Penang,” concluded Mr. Slingerland.

-END-

About MIDA
MIDA is the government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

About InvestPenang
InvestPenang is the Penang State Government’s principal agency for promotion of investment. Its objectives are to develop and sustain Penang’s economy by enhancing and continuously supporting business activities in the State through foreign and local investments, including spawning viable new growth centers. To realize its objectives, InvestPenang also runs initiatives like the SMART Penang Center (providing assistance to SMEs), Penang CAT Center (for talent attraction and retention) and i4.0 seed fund (a catalyst for the startup ecosystem). For more information, please visit https://investpenang.gov.my/ and follow InvestPenang’s social media channels: Facebook ; LinkedIn.

About Actiforce:
Actiforce Factory is our state-of-the-art manufacturing division located in Penang, Malaysia. The factory is responsible for the entire production process, from purchasing raw materials to product quality control to distribution. Since 2004, Actiforce has manufactured for all our international markets, creating a movement that provides solutions with constant focus and improvement on the processes for a more sustainable manufacturing to ensure we live up to people´s expectations and demands of a good partner for a better lifestyle. [www.actiforce.com]

Part of something bigger:
Actiforce is part of one of the world’s largest and most successful manufacturers of furniture fittings, Hettich [www.hettich.com], founded in 1888 with more than 8,000 employees in almost 80 countries. We work together towards the goal of developing intelligent technology for furniture.

The new facility in Penang marks a significant milestone in the company’s journey, solidifying its position as a key player in the global marketplace.

For more information, please contact,

MIDA
Manjit Kaur Balkar Singh
Director, Food Technology & Resource Based Industries
+603-2267 3509 | [email protected]

InvestPenang
Elaine Cheah / Arief Ferdaus Communication & Business Intelligence
[email protected] / [email protected]

Actiforce
Michael Woedd
Global Marketing Director [email protected]

Actiforce Establishes a RM50-Million, State-Of-The-Art Manufacturing Facility in Penang

Empowering Healthcare Innovation, Revolutionising Patient Care

Pasir Gudang, Johor, 5 March 2024 – Masimo Medical Technologies Malaysia Sdn. Bhd. (Masimo Malaysia), a mission-based medical device and technology company known for solving “unsolvable” problems in patient care, proudly announces the grand opening of its first facility in Pasir Gudang, Johor. This milestone event marks the culmination of months of meticulous planning, dedication, and collaboration, positioning Masimo as a leading player in advancing medical technology and patient care in Malaysia. In recognition of Malaysia’s essential role in fostering medical innovation and investment, the grand opening ceremony was attended by distinguished guests and dignitaries, including government officials from the Malaysian Investment Development Authority (MIDA).

Masimo Malaysia, stands as the sole manufacturer in the country, producing the “Pulse Oximetry Adhesive Sensor and Pulse Oximeter.” These testing tools used to measure the pulse rate and the level of oxygen (oxygen saturation) in the blood. The “Pulse Oximetry Adhesive Sensor” is a disposable, single-patient-use sensor designed for use with the Masimo system, particularly SET (Signal Extraction Technology – The technology that allows accurate monitoring of arterial oxygen saturation and pulse rate, even during motion). Meanwhile, the “Pulse Oximeter” is designed as a portable, handheld, and battery-powered continuous pulse oximeter monitoring device.

Strategically located near key seaports and international airports, the 133,000 square feet facility boasts cutting-edge production areas and warehouse spaces designed to facilitate the development and distribution of innovative medical solutions. With a total build-up area of 133,000 square feet, including a production area spanning 81,220 square feet and a warehouse area covering 46,631 square feet, the company is poised to enhance its manufacturing capabilities and meet the growing demand for high-quality medical devices.

Datuk Wira Arham Abdul Rahman, CEO of MIDA, expressed, “The opening of Masimo Medical Technologies Malaysia’s facility is a clear testament to the country’s growing influence in the global medical technology landscape. It is not only signifying a major leap for Masimo Malaysia but also strengthens the medical devices ecosystem in the Southern Region. It underscores the confidence in Malaysia’s business-friendly environment and the robustness of our medical device supply chain, affirming the country’s status as a preferred destination for high-value manufacturing and innovation-driven investments. This fully export-oriented project will be supported by Malaysian technical workforce with more than 27% of the total manpower ranging from managerial, technical, and supervisory category.”

“The initiative aligns with the New Industrial Master Plan 2030, aiming for a more integrated medical devices industry to enhance competitiveness through better resource use, cost savings, increased innovation, and advanced product development. MIDA is excited to support Masimo Malaysia’s growth, which complements our strategy to make Malaysia a leading hub for medical technology development and manufacturing.”, added Datuk Wira Arham.

“We are thrilled to celebrate the grand opening of Masimo Medical Technologies Malaysia Sdn. Bhd. and reaffirm our commitment to advancing medical technology and patient care in Malaysia,” said Mr. Jayakumar Krishnan, Plant Manager of Masimo Medical Technologies Malaysia Sdn. Bhd. “Our cutting-edge facility represents a significant investment in the future of healthcare, and we are excited to leverage Malaysia’s strategic location and robust infrastructure to drive innovation and growth in the region.”, he added.

Since its inception in September 2022, Masimo Medical Technologies Malaysia Sdn. Bhd. has made significant strides in establishing its presence in the region. From the commencement of the hiring process and site commissioning to the completion of production area renovations and commencement of direct labour hiring, the company has demonstrated unwavering commitment and determination in realising its vision of improving patient outcomes and reducing the cost of care.

As the company embarks on this new chapter of growth and expansion, it remains steadfast in its mission to improve patient outcomes and revolutionise the healthcare industry through innovation, collaboration, and excellence.

In 2023, the medical devices industry saw the approval of 26 projects, attracting investments totalling RM2.1 billion. Among these, nine new projects accounted for RM773.9 million (36.3%) of the investments, while the remaining 17 were expansion or diversification projects, contributing RM1.4 billion (63.7%).

– End –

About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram, Facebook, LinkedIn, Tik Tok and YouTube.

About Masimo

Masimo (NASDAQ: MASI) is a global medical technology company that develops and produces a wide array of industry-leading monitoring technologies, including innovative measurements, sensors, patient monitors, and automation and connectivity solutions. In addition, Masimo Consumer Audio is home to eight legendary audio brands, including Bowers & Wilkins, Denon, Marantz, and Polk Audio. Our mission is to improve life, improve patient outcomes, and reduce the cost of care. Masimo SET® Measure-through Motion and Low Perfusion™ pulse oximetry, introduced in 1995, has been shown in over 100 independent and objective studies to outperform other pulse oximetry technologies.1 Masimo SET® has also been shown to help clinicians reduce severe retinopathy of prematurity in neonates,2 improve CCHD screening in newborns,3 and, when used for continuous monitoring with Masimo Patient SafetyNet™ in post-surgical wards, reduce rapid response team activations, ICU transfers, and costs.4-7 Masimo SET® is estimated to be used on more than 200 million patients in leading hospitals and other healthcare settings around the world,8 and is the primary pulse oximetry at 9 of the top 10 hospitals as ranked in the 2022-23 U.S. News and World Report Best Hospitals Honor Roll.9 In 2005, Masimo introduced rainbow® Pulse CO-Oximetry technology, allowing noninvasive and continuous monitoring of blood constituents that previously could only be measured invasively, including total hemoglobin (SpHb®), oxygen content (SpOC™), carboxyhemoglobin (SpCO®), methemoglobin (SpMet®), Pleth Variability Index (PVi®), RPVi™ (rainbow® PVi), and Oxygen Reserve Index (ORi™). In 2013, Masimo introduced the Root® Patient Monitoring and Connectivity Platform, built from the ground up to be as flexible and expandable as possible to facilitate the addition of other Masimo and third-party monitoring technologies; key Masimo additions include Next Generation SedLine® Brain Function Monitoring, O3® Regional Oximetry, and ISA™ Capnography with NomoLine® sampling lines. Masimo’s family of continuous and spot-check monitoring Pulse CO-Oximeters® includes devices designed for use in a variety of clinical and non-clinical scenarios, including tetherless, wearable technology, such as Radius-7®, Radius PPG®, and Radius VSM™, portable devices like Rad-67®, fingertip pulse oximeters like MightySat® Rx, and devices available for use both in the hospital and at home, such as Rad-97® and the Masimo W1® medical watch. Masimo hospital and home automation and connectivity solutions are centered around the Masimo Hospital Automation™ platform, and include Iris® Gateway, iSirona™, Patient SafetyNet, Replica®, Halo ION®, UniView®, UniView :60™, and Masimo SafetyNet®. Its growing portfolio of health and wellness solutions includes Radius T°® and Masimo W1 Sport.

Additional information about Masimo and its products may be found at www.masimo.com. Published clinical studies on Masimo products can be found at professional.masimo.com/evidence/featured-studies/feature/.

MIDA

Ms. Azlina Hamdan
Director, Life Sciences & Medical Technology Division
Tel: +603-2267 3791 Email:  [email protected]

Masimo

Ms. Daphne Tan
PR Director, XIN° Communications
Email: [email protected]

Masimo Malaysia Unveils Its First Medical Device Production Facility in Johor

IPOH, PERAK, MALAYSIA, 1 MARCH 2024 – China-based manufacturer of solar encapsulant film, Zhejiang Sinopont Technology Co., Ltd. established its first manufacturing facility outside China in Ipoh, Perak today. The opening ceremony was officiated by the Menteri Besar of Perak State, Yang Amat Berhormat Dato’ Seri Saarani Mohamad.

The opening ceremony was also attended by Perak State EXCO for Tourism, Investment, Industry and Corridor Development YB Loh Sze Yee, Chairman of Zhejiang Sinopont Technology Co., Ltd. Mr. Xianglai Cao, Director of the Malaysian Investment Development Authority (MIDA) Perak Office, Mr. Mohd Fairuz Iqbal Mohd Akhbar and and other government officials.

Zhejiang Sinopont Technology Co., Ltd. through its fully-owned subsidiary in Malaysia, Sinopont Everthriving (Malaysia) Sdn. Bhd. will immediately commence its operation in Tasek Industrial Park, Ipoh, Perak, producing solar cell encapsulant film with production capacity of 85 million square meter encapsulants to cover about 10 GW demand. Sinopont’s investment in Perak will be implemented in a few phases, and expected to reach the production capacity of 300 million square meter encapsulants to cover about 30 GW demand. Perak State and Sinopont will continue to collaborate in planning for future potential expansion projects in Perak, including potential to establish a comprehensive ecosystem for solar industry in Perak.

During Perak Menteri Besar’s investment promotion mission to the People’s Republic of China (PRC) in October 2023, Perak Investment Management Centre (InvestPerak) has signed a Memorandum of Understanding (MoU) with Sinopont Everthriving (Malaysia) Sdn. Bhd. to reinforce cooperation between both parties in ensuring project implementation in Perak including future project expansion will be successfully realized.

The Perak Menteri Besar in his opening ceremony speech mentioned “Sinopont’s decision to invest in the state of Perak not only reflects the advantages of our state’s business environment, but also demonstrates our shared commitment to promote economic growth while preserving the environment for future generations. Perak is now an investment destination that is increasingly attracting the interest of various investors both from domestic and foreign investors, further strengthened by the rapid growth of infrastructure, skilled workforce, and active support from the government to industry players in line with the “Pelan Perak Sejahtera 2030” agenda, which focusing on investor friendly program. These factors make Perak an attractive choice destination for companies looking for a strategic location to start and expand their business operations.”

Datuk Wira Arham Abdul Rahman, Chief Executive Officer of MIDA expressed his support and excitement, saying “This collaboration between Zhejiang Sinopont Technology Co., Ltd. and Malaysia, facilitated by MIDA, reflects our commitment to reinforcing Malaysia’s stature as a central hub in the global renewable energy landscape. The establishment of Sinopont’s manufacturing facility in Perak not only positions Malaysia for a more influential role in the global solar market but also leverages our strategic advantages to spur innovation and sustainable growth within the renewable energy sector. This landmark investment is in line with the objectives of Malaysia’s New Industrial Master Plan (NIMP) 2030, aimed at focusing on advancing economic complexity and fostering innovation-driven growth.”

“I am confident that this venture of Sinopont will contribute to Malaysia’s ecosystem in developing the circular economy industry and will strengthen the resilience of our supply chains landscape,” added Datuk Wira Arham.

The CEO of InvestPerak, Mr. Mohamad Hashim Abdul Ghani highlighted “The investment made by the company is a testimony of strong confidence showed by foreign investors to Perak. The State government will assist, provide support, and facilitate any new investments coming to Perak. For strategic project, InvestPerak will issue a ‘fast-track letter’ to expedite approvals required by company from authorities to ensure smooth implementation of the project. InvestPerak will continuously working hand in hand with MITI and MIDA to promote Perak as the preferred investment destination in Malaysia.”

The investment by Sinopont Everthriving (Malaysia) Sdn. Bhd. is expected to create employment opportunities to about 300 Malaysian once it is running at full capacity. Through this project, Sinopont will strengthen the ecosystem of solar panel manufacturing industry in Malaysia, particularly within the Northern Region of Malaysia.

****

About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of Investment, Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on X, Instagram, Facebook, LinkedIn, TikTok and YouTube.

About InvestPerak:

Perak Investment Management Centre (PIMC) also known as InvestPerak, was established in January 2006 to serve as the ‘First Point of Contact for Investors’ in the manufacturing and services sectors in Perak. It primarily acts as the principal investment promotion agency of the Perak State Government and reports directly to the YAB Menteri Besar Perak. Perak State Government have mandated InvestPerak as the secretariat for Centre of Investment (COI), which empowereds the function of InvestPerak as the facilitator in assisting investors to invest in Perak. To facilitate the implementation of investment projects in Perak, COI@InvestPerak have has the authority to issue ‘Fast-Track Letter’ for strategic projects, which put the investment projects as a priority for all relevant agencies in their approval process. Apart from that, InvestPerak complements the role that the Malaysian Investment Development Authority (MIDA) plays at the Federal Government level, in terms of investment promotion and relevant incentives offering. InvestPerak also works closely with other related government departments and agencies, business chambers and industrial associations to ensure that the industries in Perak continue to grow and flourish.

About Zhejiang Sinopont Technology Co., Ltd.:

Sinopont is one of the leading enterprises in encapsulant film in China. We are a solid national high-tech enterprise engaged in the research and development, production, and sales of unique polymer films. We are the only authorized manufacturer and distributor of 3M POE & EVA films worldwide. Since its establishment, the company has been committed to the research and development, production, and sales of high-end functional films, including pure POE, EVA, and white film. We are at the forefront of the industry in terms of product performance. Our products have passed the tests and certification of TUV, SGS, UL, and other professional institutions, as well as ISO9001 certification, 14000 environmental system certifications, and certification for the mark of manufactured products in Zhejiang. Since the company’s inception, the total number of employees has exceeded 1,200 and the size of the company continues to grow.

Media Contacts

MIDA
Ms. Siti Halimaton binti Mohd Rejab
Director of Chemical Division and Advance Materials
T: +603 2267 6701
E: [email protected]

InvestPerak
Mr. Mohamad Noor Arif Zakaria
Investor Relations Manager
T: +6013-4475312
E: [email protected]

Zhejiang Sinopont Technology Co., Ltd
Mr. Siyu Zhai
Assistant General Manager
Sinopont Everthriving (Malaysia) Sdn. Bhd.
[email protected]
05-5412255

Zhejiang Sinopont Technology Co., Ltd. Establishes Its First Manufacturing Facility Outside China in Perak, Malaysia

Kuala Lumpur, 9 March, 2023 — The Malaysian Investment Development Authority (MIDA) and the Johor State Government have successfully organised the Invest Series: Unfolding States ‘Business Potential’ – Johor programme to showcase the untapped investment opportunities in the state. The event which took place at MIDA Headquarters, attracted 400 participants, including captains of industry, government officials, entrepreneurs and senior managements from various sectors.

The programme started with a welcome address by Datuk Wira Arham Abdul Rahman, Chief Executive Officer (CEO) of MIDA and was followed by the keynote address by YAB Datuk Onn Hafiz Ghazi, Menteri Besar Johor. Also present at the event were YB Tuan Liew Chin Tong, Deputy Minister Of International Trade And Industry (MITI); YB Tuan Lee Ting Han, Chairman of Johor State Investment, Trade and Consumer Affairs Committee; YBhg. Tan Sri Dato’ Seri Dr. Sulaiman Mahbob, Chairman, Malaysian Investment Development Authority (MIDA); YB Dato’ Haji Mohammed Ridha Dato’ Haji Abd Kadir, Deputy State Secretary of Johor Development, Johor State Secretary’s Office; YBhg. Dato’ Badrul Hisham Kassim, Chief Executive, Iskandar Regional Development Authority, YBrs. Puan Zarina Abdul Kadir, Chief Executive, Invest Johor and head of state and federal and government department and agencies.

YAB Datuk Onn Hafiz Ghazi, Menteri Besar Johor in his address shared the latest Johor Development Plan and emphasised Johor’s investment aspirations, stating that it is the “Southern Jewel of Malaysia.”

“Johor’s total approved investments for 2022 reached an all-time high of RM 70.6 billion, which is the highest in Malaysia. Since taking over the helm of the State Government last year, my colleagues and I have worked tirelessly to enhance our economic resilience by assisting the people in cushioning the impact from price increases and facilitating businesses recovery. In tandem, we have sought to generate quality investments, secure more job opportunities, and put in place the building blocks of a more dynamic, inclusive, and sustainable economy. We are consistent in our efforts to ensure the rapid recovery of our economy, while strengthening its resilience to new challenges posed by the changing landscape of the global economy. There is a lot to be done still, and we must keep focused on the bigger picture and the longer game of creating a dynamic, inclusive, and sustainable economy for Johor and Malaysia.” said YAB Datuk Onn Hafiz Ghazi.

Datuk Wira Arham, CEO of MIDA highlighted on the recently announced Malaysia’s investment performance in 2023, said “Malaysia has successfully attracted RM264.6 billion worth of approved investments in the services, manufacturing and primary sectors for 2022, creating 140,370 job opportunities in the country. Johor played a significant role, accounting for a substantial proportion of the approved investments at RM70.6 billion. Congratulations to Johor for showcasing its economic potential through its attractive investment climate and strategic location, and for its outstanding contribution to Malaysia’s economy.”

“As part of its commitment to boosting domestic investment, the Government, in collaboration with MIDA, has undertaken several initiatives aimed at attracting investment in Johor and other states. From the MIDA Invest Series Conference to the Domestic Investment Coordination Platform (DICP) initiative, the SME Investment Desk and joint programmes with local industry associations and chambers of commerce, these efforts are designed to create a conducive environment for businesses to thrive. The Domestic Investment Seminar, the Domestic Specific Project Mission (DSPM), and the Industry Linkage Program (ILP) / Supply Chain Programme are also in place to help foster partnerships and drive innovation.” added Datuk Wira Arham.

Over the years, Johor has remained a crucial gateway for the country, thanks to its advanced infrastructure projects. One of the most vital infrastructure developments in Johor are the connections to Singapore, including the Johor-Singapore Causeway built in 1924, and the Tuas Second Link bridge constructed in 1998, both of which have played a significant role in linking Singapore and Malaysia via Johor. In addition, Johor offers other excellent infrastructures for investors such as the international airport (Senai) and three ports (Pasir Gudang Port, Tanjung Pelepas Port, and Tanjung Langsat Port), thus, positioning Johor as a hub for investments.

MIDA continues to aggressively promote the digital tech sector, including data centres, cybersecurity, artificial intelligence (AI), creative and digital content such as gaming and animation, as well as system integrators and solution providers, to make Malaysia the region’s tech launchpad. The data centre investments into Johor accounted for RM51.1 billion of the investment in 2022, and MIDA welcomes investments from leading data centre companies to tap into the vast market demand for such services by building a critical presence in Malaysia.

The Invest Series: Unfolding States ‘Business Potential’ – Johor programme was a significant success, highlighting Johor’s investment landscape and its potential to attract investors. With its excellent infrastructure, strategic location, and dynamic ecosystem, Johor is one of the promising destinations in the country for investment, and MIDA remains committed to supporting and facilitating investments in the state.

*****

About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn, TikTok and YouTube.

About Invest Johor

Invest Johor is a one-stop-centre that represents the state of Johor in dealing with investors and helps to position Johor as an attractive destination for investment. Invest Johor plays an important role in matters related to the promotion, facilitation, coordination, and development or investments in a broad sector of industries. Ultimately, Invest Johor strives to help transform Johor into a regional hub for high-technology, knowledge-based, and capital-intensive industries.

For more information, please contact:

MIDA
Mr. Sukri Abu Bakar
Director, Domestic Investment Division, MIDA
Email: [email protected] | DL: + 603- 2267 368

Invest Johor
Ms. Zarina binti Abd Kadir
Chief Executive, Invest Johor
Aras 3, Bangunan Dato Abdul Rahman Andak,
Kota Iskandar
79000 Iskandar Puteri, Johor
Email: [email protected] | Tel: (6) 07-290 9000 | Fax: (6) 07-290 8000

MIDA Collaborates with Johor State Government to Highlight the State’s Investment Landscape and Its Vast Potential

Both parties have signed an MOU that extends DHL Express’ role in attracting multinational companies to Malaysia

Kuala Lumpur, 30 March 2023 – DHL Express, the world’s leading international express service provider, and the Malaysian Investment Development Authority (MIDA) have entered into a Memorandum of Understanding (MOU), to strengthen the country’s position as ideal destination for foreign direct investment (FDI). The partnership aims to further consolidate the contribution of the supply chain industry toward national economic growth.

The agreement builds on a longstanding partnership, leveraging DHL Express’ global network and local expertise to attract multinational companies to enter and expand in Malaysia. Both parties are set to intensify joint efforts to drive overseas inflows of capital, infrastructure, and knowledge to develop key priority sectors. These include electrical and electronics, pharmaceutical, digital economy, aerospace, and chemicals.

The MOU was formalised today by Sivasuriyamoorthy Sundara Raja, Deputy Chief Executive Officer of Investment Promotion and Facilitation of MIDA, and Julian Neo, Managing Director of DHL Express Malaysia and Brunei. YBhg. Tan Sri Dato’ Seri Dr. Sulaiman Mahbob, Chairman of MIDA was also present as the witness of the ceremony.

In 2022, Malaysia recorded approved investments totalling RM264.6 billion (USD59.9 billion), from 4,454 projects, and creating 140,370 job opportunities. The services sector represented the largest chunk of total approved investments with RM154 billion (USD34.8 billion), followed by RM84.3 billion (USD19.1 billion) in the manufacturing sector. Notably, Foreign Direct Investment (FDI) was the major contributor to the total approved investments at 61.7% or RM163.3 billion (USD36.9 billion), while Domestic Direct Investment (DDI) contributed 38.3% or RM101.3 billion (USD23 billion); proving that Malaysia continues to inspire confidence and remains a preferred destination for global investors seeking stable, long-term opportunities.

YBhg. Tan Sri Dato’ Seri Dr. Sulaiman Mahbob, Chairman of MIDA, noted the heightened investor confidence in Malaysia while welcoming MIDA and DHL Express’ renewed partnership.

In his welcoming speech, he stated, “Despite the unexpected challenges that our initial formalised MOU in 2019 encountered with the advent of the COVID-19 pandemic, today’s signing ceremony reaffirms our commitment to strengthening the robust partnership between MIDA and DHL Express Malaysia. With this new agreement, we are confident that Malaysia will continue to shine brightly as the preferred investment destination for global investors, further solidifying our nation’s position as a beacon of stability, progress and prosperity in the region and beyond.”

“Our stakeholders can also look out for more focused, specific seminars on targeted industries, particularly in key sectors such as green technology, oil and energy, manufacturing, aerospace, e-commerce, as well as global and regional distribution centres. We are hopeful that this strong private and public partnership will help solidify our investors’ confidence and broaden business opportunities. Essentially, ensuring that there is a continuous sustainable stream of quality investment activities in the country in line with our nation’s New Investment Policy.” he added.

Indeed, Malaysia is well ahead of its peers in terms of the depth of its globalisation. According to the latest DHL Global Connectedness Index 2022—a study on the flow of trade, people, capital, and information worldwide—Malaysia ranks second (2^nd) in Trade Connectivity in Southeast Asia, and 14th out of 171 economies globally. Malaysia is also among the top ten with the largest connectedness improvements over the data period of 2001 to 2021.

“DHL Express’ growth is very much tied to Malaysia’s own since establishing our roots here 50 years ago,” said Julian Neo. “Through our shared history, we experienced a strong economy that has become the fifth largest in ASEAN. The MOU with MIDA reaffirms our collaborative relationship to facilitate the rising investment interest. With presence that spans 220 countries and territories, DHL Express is well equipped to support companies looking to diversify their supply chains in Malaysia.”

DHL Express Malaysia operates a robust aviation and ground network encompassing six gateways, 21 service centers, 185 retail points of sale, more than 300 vehicles, over 60 weekly flights, four dedicated aircrafts, and more than 1,500 employees to ensure comprehensive service coverage.

-ENDS-

About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn, TikTok and YouTube.

About DHL – The Logistics Company for the World

DHL is the leading global brand in the logistics industry. Our DHL divisions offer an unrivalled portfolio of logistics services ranging from national and international parcel delivery, e-commerce shipping and fulfillment solutions, international express, road, air and ocean transport to industrial supply chain management. With about 395,000 employees in more than 220 countries and territories worldwide, DHL connects people and businesses securely and reliably, enabling global sustainable trade flows. With specialized solutions for growth markets and industries including technology, life sciences and healthcare, engineering, manufacturing & energy, auto-mobility and retail, DHL is decisively positioned as “The logistics company for the world”.

DHL is part of Deutsche Post DHL Group. The Group generated revenues of more than 94 billion euros in 2022. With sustainable business practices and a commitment to society and the environment, the Group makes a positive contribution to the world. Deutsche Post DHL Group aims to achieve net-zero emissions logistics by 2050.

For media enquiries, please contact:

MIDA
Mr. Faizal Jalaludin
Director, Foreign Investment Division, MIDA
T: +603-2267 6650
E: [email protected]

DHL Express Malaysia
Tristan Toh
Corporate Communications, Brand, and Sustainability
T: +6012 719 2021
E: [email protected]
Website: dhl.com.my
Facebook: DHL Express Malaysia
Twitter: @DhlExpressMY
Instagram: @dhlexpressmalaysia

MIDA and DHL Express Partner to Promote Foreign Direct Investment to Malaysia

PENANG, Malaysia — 22 March 2023 — Critical areas of semiconductor industry growth including sustainability, smart manufacturing, smart mobility, smart medtech and workforce development will take center stage at SEMICON Southeast Asia as the industry’s premier global electronics manufacturing and supply chain event returns to Penang 23-25 May at the Setia SPICE Convention Centre. SEMICON Southeast Asia 2023 is organized in partnership with Malaysia Ministry of International Trade & Industry (MITI), Malaysian Investment Development Authority (MIDA) and InvestPenang. Registration is open.

Themed Boosting Agility and Resiliency for the Electronics Supply Chain, SEMICON Southeast Asia 2023 will also gather industry leaders to explore ways for the electronics industry to build a more robust supply chain as it navigates the current economic downturn and ongoing disruptions.

“With global electronics supply chains being redrawn as a result of geopolitical forces, more global players are shifting their attention to Southeast Asia, where much of the world’s semiconductor manufacturing capabilities are concentrated,” said Linda Tan, President of SEMI Southeast Asia. “There is no better time for the region to bolster its position as a key hub for electronics manufacturing and deepen its integration with global value chains. We look forward to hosting industry leaders at SEMICON Southeast Asia 2023 as they gather to discuss how they can build on Southeast Asia’s strengths to help increase global supply chain resilience, and better position the industry to seize the innovation and growth opportunities ahead.”

SEMICON Southeast Asia 2023 Highlights

• CxO Summit on Boosting Agility and Resiliency for the Electronics Supply Chain in SEA
  
  
• Roundtable discussion on investment opportunities in Southeast Asia

• Workforce Development
  • Career fair and talksSEMI SEA University Bootcamp
  • Launch of SEMI University, an online learning management system comprising courses targeted towards industry professionals in the semiconductor and electronics industry.

• Forums  
  • SMART MobilityMarket and Industry trendsSMART EnterpriseAdvanced PackagingSMART MedTechAdvanced Product Testing
  • Sustainability

• Smart & Sustainable Manufacturing Journey to help expand the adoption of Industry 4.0 best practices in the semiconductor industry. 

• Start-ups Showcase featuring the latest innovative semiconductor manufacturing solutions that are available in the market.

• Industry VIP Networking Night for attendees to connect with industry leaders and experts.

What SEMI Southeast Asia partners have to say

YBhg. Datuk Wira Arham Abdul Rahman, Chief Executive Officer, Malaysian Investment Development Authority

“As Southeast Asia’s semiconductor hub, Malaysia has vast potential to leverage global demand and expand its already robust existing semiconductor ecosystem in the coming years. I am proud to announce that Malaysia’s attraction as a top investment destination in the region remains strong, with a steady influx of high-quality investments in the manufacturing sector. This sector continues to contribute significantly to the Malaysian economy and in 2022, recorded a total of RM84.3 billion (USD19.1 billion) or 31.9 per cent of total approved investments in various economic sectors. Electrical and electronics (E&E) remained the top-performing industry in the manufacturing sector, with a total of approved investments of RM29.3 billion (USD6.6 billion).”

“SEMICON Southeast Asia presents a great platform for businesses to connect, engage and widen their strategic networks. With the presence of international firms at the event, Malaysia will showcase the vibrancy of its E&E industry and offer more opportunities for global industry players to expand their supply chains to include this key sector.”

Right Honourable Mr. Chow Kon Yeow, Chief Minister of Penang

“The theme for this year’s SEMICON Southeast Asia aligns with Penang’s longstanding focus to strengthen our competitiveness in the global arena. Having built a significant presence in the semiconductor industry, Penang is often lauded for its areas of expertise along the value chain. Beyond that, the state, via InvestPenang, commits to nurture the growth of emerging subsectors, extend Penang’s depth and breadth in the semiconductor industry to offer a portfolio of capabilities that speaks of our robust semiconductor ecosystem.”

For the full event agenda, please visit the Semicon Southeast Asia website.

About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.  

About InvestPenang

InvestPenang is the Penang State Government’s principal agency for promotion of investment. Its objectives are to develop and sustain Penang’s economy by enhancing and continuously supporting business activities in the State through foreign and local investments, including spawning viable new growth centers. To realize its objectives, InvestPenang also runs initiatives like the SMART Penang Center (providing assistance to SMEs) and Penang CAT Center (for talent attraction and retention). For more information, please visit https://investpenang.gov.my/ and follow InvestPenang’s social media channels: Facebook and LinkedIn.

About SEMI

SEMI^® connects more than 2,500 member companies and 1.3 million professionals worldwide to advance the technology and business of electronics design and manufacturing. SEMI members are responsible for the innovations in materials, design, equipment, software, devices, and services that enable smarter, faster, more powerful, and more affordable electronic products. Electronic System Design Alliance (ESD Alliance), FlexTech, the Fab Owners Alliance (FOA), the MEMS & Sensors Industry Group (MSIG) and SOI Consortium are SEMI Strategic Technology Communities. Visit www.semi.org, contact one of our worldwide offices, and connect with SEMI on LinkedIn and Twitter to learn more.

Media Contacts

Ryan Teo/SEMI Southeast Asia
Phone: +65 9859 0883
Email: [email protected]

Michael Hall/SEMI US
Phone: 1.408.943.7988
Email: [email protected]
Reshvinder Kaur/Din Communiations
Phone: +6017 275 7985
Email: [email protected] / [email protected]

SEMICON Southeast Asia 2023 to Spotlight Electronics Supply Chain Resilience, Sustainability, Smart Tech and Talent

• SKC is exploring the possibility of making additional investments in the EV segment in Malaysia.
• POSCO Holdings is planning to develop a Carbon Capture Storage (CCS) project and further expand its steel processing plant in Malaysia to support new business segments such as EV, batteries, and green energy.
• COWAY’s decision to establish its first manufacturing hub and R&D facilities outside ROK demonstrates the company’s confidence in Malaysia’s economic fundamentals and conducive business environment.
• LOTTE Fine Chemical proposed a project that will further enhance local production capabilities, support the transition of industries value chain to the next level, and create more high-income and knowledge-intensive jobs.

21 March 2023 – The recently concluded Trade and Investment Mission (TIM) to the Republic of Korea (ROK) has secured a staggering RM24 billion in potential investments for the country. The TIM, held from 14 to 17 March 2023 was led by Minister of International Trade and Industry (MITI), YB Senator Tengku Datuk Seri Utama Zafrul Bin Tengku Abdul Aziz. It was also joined by high-level officials from MITI, MIDA, MATRADE and various Investment Promotion Agencies, as well as representatives from regional development corridors and Malaysian companies.

Datuk Wira Arham Abdul Rahman, CEO of MIDA, expressed his excitement in facilitating these investments, stating, “The remarkable achievement of securing RM24 billion in potential investments for Malaysia through the Trade and Investment Mission to the Republic of Korea (ROK) stands as a testament to our country’s steadfast commitment to attracting top-tier investments and augmenting the participation of local companies in the global supply chains.”

He also expressed his enthusiasm for the longstanding strategic partnership between Malaysia and the ROK, forged through the Look East Policy over the past four decades. Thanks to this collaboration, the ROK has become one of Malaysia’s top 10 major investors. “We are eager to welcome even more investments from the ROK. The focus will be on new growth areas such as high technology, innovation, knowledge-based and skills-intensive industries, which will create vast opportunities for the sustainable and green agenda advocated by both nations. The Malaysian Government is also placing a strong emphasis on energy and high-value manufacturing activities, including transport technology, such as the electric vehicle and its ecosystem, which is poised to deliver significant economic potential and long-term sustainable growth,” he added.

SKC, POSCO Holdings, Coway and LOTTE Fine Chemical were among the companies that expressed interest in investing in Malaysia.

SKC is exploring the possibility of making additional investments in the EV segment in Malaysia. Mr. Jae Hong Yi, Chief Executive Officer of SK Nexilis, shared, “Due to the increasing demand for Li-ion batteries in various industries worldwide, SKC is exploring the possibility of making additional investments in the EV segment in Malaysia. Malaysia is a strategic location for rapid global expansion of EV investments as it has started to develop the necessary infrastructure and materials to support the expansion of EV battery production.”

POSCO Holdings reaffirmed the company’s potential investment in Malaysia. POSCO Holdings is planning to develop a Carbon Capture Storage (CCS) project and further expand its steel processing plant in Malaysia to support new business segments such as EV, batteries, and green energy. Mr. Yoo Byeong-Og, Senior Executive Vice President and Head of Green Materials & Energy Business Team at POSCO Holdings, said, “Malaysia has high potential for carbon storage, which is in line with Malaysia’s commitment towards the ESG agenda, including achieving net-zero greenhouse gas (GHG) emissions by 2050 at the earliest.”

Coway’s CEO, Mr. Jangwon Seo, expressed the company’s confidence in the country’s economic fundamentals and pro-business environment by announcing their decision to establish their first manufacturing hub and R&D facilities outside of ROK. The establishment of the R&D center is aligned with Malaysia’s National Investment Aspirations (NIA) to develop high-value, innovative, and advanced technology products, creating high-income and knowledge-intensive jobs for Malaysian. Mr. Seo said, “We are confident that the favourable business climate and talented workforce in Malaysia will be key drivers in enhancing our market presence and contributing to the growth of the nation’s economy.” Mr. Yong Seok Kim, President and CEO of LOTTE Fine Chemical, shared, “LOTTE Fine Chemical sees great potential in diversifying its investments in Malaysia. The chemical industry is a crucial sector in Malaysia, ranking fourth in terms of industry size and third in terms of imports. The country offers a resilient supply chain, a skilled local workforce, and a strategic business ecosystem that can further support the company’s expansion plans. With this proposed project, LOTTE Fine Chemical aims to enhance local production capabilities, enabling the transition of the industry’s value chain to produce more advanced and high-value products”.

In 2022, MIDA announced approved investments in various economic sectors totalling RM264.6 billion (USD59.9 billion). Of this amount, a total of 15 manufacturing and services projects under MIDA’s purview with Korean participation have been approved with total investment worth USD1.42 billion. These projects generated potential employment for 1,389 people and the ROK is now ranked as the 7th largest foreign investor in terms of approved investments for 2022.

The TIM mission kicked off with a seminar titled “Malaysia: Your Profit Centre in Asia” which had attracted more than 250 distinguished business leaders from ROK and Malaysia. The main aim of this mission was to attract investments from various sectors, including electrical and electronics (E&E), environmental, social & governance (ESG), transport technology, metal, hydrogen, and chemical and chemical products.

The continuous investments by investors from the ROK validate the success of the nation’s ongoing efforts in attracting quality investments and in enhancing participation of local companies in high-value global supply chain. The strong interest shown by ROK companies garnered during the mission serves as a major catalyst in expanding the bilateral trade and investment relations, most notably in areas that support the sustainable and green agenda advocated by both nations.

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About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

For more information, please contact:

MIDA

Mr. Faizal Jalaludin
Director, Foreign Investment Division
E: [email protected]   I   T: +60322676650

Malaysia Secures RM24 Billion of Potential Investments From Trade and Investment Mission to The Republic of Korea (ROK)

21 March 2023 – The Malaysian Investment Development Authority (MIDA) has successfully organised an inaugural seminar with the theme ‘Hydrogen Economy – Building a Sustainable Ecosystem in Shaping the Future of Energy, Materials & Infrastructure today at Perdana Hall, MIDA Sentral, Kuala Lumpur. The seminar was held to promote investments in the hydrogen economy to support the government’s agenda in attracting quality and sustainable investments in the new economy that uses innovative and cutting-edge technologies to boost industrial production and economic growth.

The Deputy Minister of International Trade and Industry (MITI), YB Liew Chin Tong, in his keynote address, expressed “While hydrogen has been identified as a fuel for the future in Malaysia’s National Energy Policy, we are still in the process of developing a

comprehensive roadmap and strategy for the hydrogen economy. The Ministry of Science, Technology, and Innovation, together with the National Nanotechnology Centre, are currently drafting the National Hydrogen Strategy. Once the National Hydrogen Strategy is agreed upon and implemented, MITI will engage relevant stakeholders to identify the right incentives and facilities, such as tax breaks, capital allowances, financial assistance, and R&D, to attract investments in hydrogen production, infrastructure, and ecosystem development. This will facilitate the country’s transition to a hydrogen economy, benefiting both industry and the rakyat.”

The seminar started with a welcome address by MIDA Chairman, YBhg. Tan Sri Dato’ Seri Dr. Sulaiman Mahbob, followed by a keynote address by YB Liew Chin Tong, the Deputy Minister of International and Industry (MITI). Malaysia’s renowned researchers and experts in hydrogen technology, YBhg. Prof. Dato’ Ir. Dr. Wan Ramli Wan Daud and YBhg. Prof. Dato. Ir. Dr. A Bakar Jaafar, also attended. Additionally, Mr. Mikaa Mered, a French Hydrogen Task Force member and Green Hydrogen Ambassador for IAHE, joined virtually from Marseille, France. YBhg. Tan Sri Datuk Seri Dr. Sulaiman Mahbob, Chairman of MIDA, highlighted, “Hydrogen has the potential to play a key role in a clean, secure and affordable energy in the future. “Green” hydrogen is the term used to describe the production of hydrogen from renewable energy sources. Given our country’s abundant and widely spread solar resources as well as the government’s commitment to shift towards renewable energy, the time is suitable for industry players and investors to tap into the potential of “green” hydrogen production.”

Tan Sri Sulaiman mentioned that MIDA is currently providing comprehensive support and facilitation to the Sarawak Economic Development Corporation (SEDC) Energy Sdn. Bhd. and relevant stakeholder to realise the investments in green hydrogen and related projects in Sarawak. “Malaysia is poised to play a pivotal role in the global shift towards a sustainable future through its investment in green hydrogen projects and related ecosystem development “ he added.

YB Liew Chin Tong also launched the Malaysian Association of Hydrogen Energy (MAHE) to the industry players during the seminar. MAHE is a platform to synergise efforts towards the development of a Malaysian Hydrogen Energy Blueprint, establishing academia-industry project collaborations, development of hydrogen project demonstrations, consultations for knowledge and technology transfers, and planning for human capital development.

This event has successfully promoted the hydrogen economy and its potential to shape the future of energy, materials, and infrastructure. The Malaysian government and relevant agencies are committed to supporting the development of a sustainable ecosystem for hydrogen production and infrastructure, and to attract investments in this new economy.

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About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn, TikTok and YouTube channels.

For more information, please contact:

MIDA

Mr. Syed Kamal Muzaffa bin Syed Hassan Sagaff
Director, Advanced Technology and Research & Development Division
MIDA Email: [email protected] | DL: + 603- 2267 3636

MIDA Spearheads The Investment Promotion In Hydrogen Economy

17 March 2023 – The Ministry of International Trade and Industry (MITI), successfully secured a total of RM24 billion potential investment and RM4.24 billion of potential exports of products and services, through the recently concluded Trade and Investment Mission to the Republic of Korea (ROK). The Mission, led by MITI Minister, YB Senator Tengku Datuk Seri Utama Zafrul Aziz from 14 – 17 March 2023, was part of MITI’s continuous efforts in attracting quality investments and enhancing participation of local companies in higher value global supply chain.

During the Mission, Tengku Zafrul had a bilateral meeting with his counterpart, H.E. Dukgeun Ahn, Minister for Trade, Ministry of Trade, Industry and Energy (MOTIE) ROK, to discuss, among others, the proposed resumption of bilateral free trade agreement negotiation between both countries; the formation of a Ministerial Trade Cooperation Dialogue; as well as potential cooperation in digital economy, green economy, renewable energy, supply chain and economic cooperation under the platform of the Indo Pacific Economic Framework (IPEF) and Regional Comprehensive Economic Partnership (RCEP). The Mission also featured a business seminar, a reception and a Venture Capital (VC) Investors’ Round.

Tengku Zafrul said, “The strong interest shown by Korean companies garnered during the Mission is a major catalyst for expanding Malaysia-South Korea bilateral trade and investment relations, particularly in the sustainable and green technology sectors, such as Carbon Capture Storage, Hydrogen Energy and Electric Vehicle. Malaysia’s economic competitiveness in the future will depend on whether we can secure access to and master green technology. Therefore, it is crucial for Malaysia to work with investors that can help us unlock growth in areas that support our sustainable agenda. I hope South Korea can work closely with us on this, as we chart a more resilient journey together for the challenges ahead.”

Among the new investment projects deliberated during the mission were by Samsung Engineering, SKC, Lotte Fine Chemicals, Hyundai, COWAY and a consortium of Korean companies. Lotte Energy Materials, Samsung Engineering and POSCO Holdings have also expressed their commitment to inject new investments in Malaysia, as well as ensure the transfer of new technology, high-value job creation, talent development, ecosystem creation and collaboration with local universities and industries, particularly among small and medium enterprises (SMEs). This is a manifestation of Malaysia’s earnest effort towards attaining sustainable and inclusive economic growth objectives under the New investment Policy (NIP).

The business seminar, which attracted more than 250 captains of industry from both Malaysia and the ROK, provided an update of Malaysia’s pro-trade and pro-investment policies, as well as opportunities for Korean companies to explore in Malaysia. Apart from the seminar, more than 150 individual business meetings were also arranged between Korean companies and Malaysian business delegation.

Another key feature of the mission was the Venture Capital (VC) Investors Round which was chaired by Tengku Zafrul and participated by more than 20 Korean VC investors, who indicated their interests to locate their robotics and AI-based businesses in Malaysia. Tengku Zafrul also witnessed the exchange of four memorandum of understanding (MOUs) with a few Korean VCs’ commitment to invest up to US$400 million in Malaysia.

To commemorate the 40th Anniversary of the LEP between Malaysia and the ROK this year, MITI and the Embassy of Malaysia in the ROK, also organised a Reception which was also graced by H.E. Park Jin, Minister of Foreign Affairs of the ROK and the Vice Minister, Mr. Lee Do-hoon. The Reception was also attended by the business community and government officials from both countries as well as Malaysian professionals and students in the ROK. In 2022, the ROK stood as the eighth largest trading partner for Malaysia with total trade amounting to RM114.21 billion (USD25.94 billion), an increase of 29.3% compared to RM88.31 billion (USD21.01 billion) in 2021. In terms of investment, the ROK has been one of Malaysia’s top sources of Foreign Direct Investment (FDIs) for the manufacturing sector. As of June 2022, a total of 374 projects worth USD9.2 billion (RM32.9 billion) have been implemented, generating 46,260 jobs.

MINISTRY OF INTERNATIONAL TRADE AND INDUSTRY (MITI)

MITI Secures RM24 Billion Potential Investments And RM4.24 Billion Potential Exports From Mission To South Korea

• A Smart Warehouse and International Procurement Centre will also be built in Sg. Petani to support industrial clusters in Kedah and Penang.
• Committed to economic vibrancy through continuous investment, high-technology transfer and ‘hire locals first’ policy.

Seberang Perai, Penang, 17 March 2023 – Electronic Manufacturing Services (EMS) provider EG Industries Berhad (EG Industries) is set to build a RM180 million Smart ‘Lights-Out’ Factory 4.0 in Batu Kawan, Penang, which is expected to be a game-changer for the Northern Peninsular. The factory will  be producing new 5G Advanced High Speed Optical Signal Transmitter and Receiver for 5G wireless network (“Optical Modules”), using  photonics and semiconductor technologies through technology transfer from its US-based customer Cambridge Industries Group (“CIG”).   

The Batu Kawan plant, which commenced construction in January 2023, will initiate the first pioneer technology transfer in South East Asia. This is expected to raise the skillset and competitiveness of the local workforce and is set to hire approximately 1,000 high-skilled talents upon completion in the first half of 2024.Today, EG Industries hosted a delegation from the Malaysian Investment Development Authority (MIDA) in Sg. Petani, led by Ms. Lim Bee Vian, Deputy Chief Executive Officer (Investment Development), in conjunction with their expansion plan announcement. Also present at the event was YB Dato’ Wira Dr. Ku Abd Rahman, Senior State Executive Council Member (Kedah) and Member of Parliament Kubang Pasu, Kedah.

EG Industries, who currently employs 3,000 staff representing about 1 per cent of the Sg. Petani population, intends to actively collaborate with local universities and colleges to train fresh graduates to become industry-savvy. With its ‘hire local first’ policy, EG Industries prioritises employing Malaysians from the surrounding vicinity, enabling it to reduce dependency on foreign labour.

Ms. Lim Bee Vian, DCEO (Investment Development) of MIDA congratulated EG Industries, said, “We are pleased to see that EG Industries is actively collaborating with local universities and colleges to train fresh graduates to become industry-savvy. With their ‘hire local first’ policy, we applaud the company for providing job opportunities to Malaysians in the surrounding area, reducing dependency on foreign labor, and therefore helping our locals to increase their source of livelihood. Certainly, EG Industries’ expansion plans align with the National Investment Aspirations (NIA) of attracting high-value investments to deliver sustainable and holistic economic growth.”

“We welcome EG Industries’ expansion project leveraging on cutting-edge 5G technology, which is in line with the government’s mandate for MIDA to spearhead rapid digital transformation in the manufacturing sector. This will pave the way for enhancement on productivity, job creation, and the deepening of Malaysian’s skill set,” added Ms. Lim Bee Vian.

The new plant will deploy Lights-Out methodology, creating a fully networked environment that digitises material flow for autonomous manufacturing. This will be managed by a remote team of highly-specialised experts responsible for data management, production planning and quality control. 

Apart from Batu Kawan, the EMS player is extending its presence further to build Smart Warehouses and an International Procurement Centre featuring Kedah’s first Vendor Management Inventory (VMI) system to serve its own increasing requirements as well as that of the surrounding industrial cluster in Sg Petani, Kedah and Batu Kawan, Penang. The RM40 million facilities are slated for completion in 2024.

EG Industries’ Group Chief Executive Officer (CEO) Dato’ Alex Kang said that the smart facilities were timely given the Group’s expansion journey, from providing Printed Circuit Board Assembly (PCBA) and full-product box-build assembly, to producing upstream 5G routers and soon 5G optical modules.

Dato’ Alex Kang, Group Chief Executive Officer and Executive Director of EG Industries Berhad said, “Even before COVID, EG Industries had put strategies in place to improve our standing, by building our team’s mindset to emphasise on excellence, safety and innovation; serving more international customers to become their EMS partners; and improving efficiency of resource planning and sourcing, especially from local vendors. This has helped us to build our profile to retain our position as top 50 EMS players in the world today. While we are proud of our track record, we believe in enabling our fellow industries in Sg Petani to move forward as a collective unit. This is why we chose to build the Smart Warehouses and IPC, so that every industry player can utilise system-based technologies and have opportunity to scale up their operations.”

“We would like to cooperate more closely with Government authorities and agencies like MIDA to bring up the economic value in the state. Thus far our current plant in Sg. Petani has benefitted from grants to encourage exports and innovation, and we are hopeful for the continued support for future expansion plans. Apart from grants, we always appreciate open sessions for dialogue and feedback on current policies, so that Government agencies are kept abreast of latest developments and challenges of industry players, and formulate a mutually-beneficial solution,” added Dato’ Alex Kang.

Having achieved more than RM1 billion in annual revenue in the financial year ended 30 June 2022 (FY2022), the EMS player currently contributes approximately 2 per cent of Kedah’s Gross Domestic Product (GDP).

-ENDS-

About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn, TikTok and YouTube.

About EG Industries Berhad (“EG 工业”, www.eg.com.my)

Main Market Bursa Malaysia Securities Berhad; Bloomberg: EG:MK

EG Industries is a leading Electronic Manufacturing Services (EMS) and Vertical Integration provider for world-renowned brand names of electrical and electronic products for several industries including consumer electronics, ICT, medical, automotive and telecommunications. The Group has a workforce of approximately 3,000 employees in its manufacturing plants in Kedah, Malaysia and Prachinburi, Thailand.

Listed as one of the top 50 EMS players in the world, EG Industries provides services in original equipment manufacturing and original design manufacturing with full turnkey solutions for completed final products assembly (box-build), printed circuit board assembly and modular components assembly.

For media enquiries, please contact:

MIDA
Ms. Noor Suziyanti Binti Saad
Director, Electrical and Electronics Division, MIDA
T: +603-2267 3575
E: [email protected]

EG Industries
Ms. Julia Pong
T: +603-2711 1391/+6012-3909 258
E: [email protected]

EG Industries’ Smart ‘Lights-Out’ Factory 4.0 in Batu Kawan Set to Be A Game-Changer in the Northern Peninsular

• The Malaysia Madani concept emphasises the concepts of innovation, inclusivity and sustainability, where economic growth is achieved in a balanced and equitable manner, taking into account environmental, social and governance (ESG) factors. In this context, the positive trend in approved investments across Malaysia’s services, manufacturing, and primary sectors is a promising sign for the country’s focus towards achieving a more sustainable economy.
• In 2022, Malaysia recorded approved investments totalling RM264.6 billion (USD59.9 billion). This translates to 4,454 projects, with 140,370 job opportunities to be created.
• The services sector is the major contributor with RM154 billion (USD34.8 billion), followed by a RM84.3 billion (USD19.1 billion) boost in manufacturing sector, and RM26.3 billion (USD6 billion) in the primary sector.
• Foreign Direct Investment (FDI) remained the major contributor to the total approved investments at 61.7% or RM163.3 billion (USD36.9 billion), while Domestic Direct Investment (DDI) contributed 38.3% or RM101.3 billion (USD23 billion).
• The People’s Republic of China (PRC) dominated foreign investments totalling RM55.4 billion (USD12.5 billion) or 33.9% and followed by The United States of America (17.9%) The Netherlands (12.5%), Singapore (8.3%) and Japan (7%).
• Five (5) states that have recorded significant investment value to the total approved investments include, Johor (RM70.6 billion) (USD16 billion), Selangor (RM60.1 billion) (USD13.6 billion), Sarawak (RM28.2 billion) (USD6.4 billion), Wilayah Persekutuan Kuala Lumpur (RM25 billion) (USD5.7 billion) and Pulau Pinang (RM16.3 billion) (USD3.7 billion).
• Malaysia’s services sector secured a total of 3,581 projects worth RM154 billion (USD34.8 billion) for the period of 2022.

Kuala Lumpur, 8 March 2023 – With the announcement of RM264.6 billion in approved investments for 2022, the Malaysian Investment Development Authority (MIDA) has demonstrated Malaysia’s status as a preferred investment destination. Under the theme “Sustainable Investments for Growth,” the country’s manufacturing, services, and primary sectors have demonstrated resilience in the face of a challenging economic landscape, proving that Malaysia continues to inspire confidence and remains a preferred destination for global investors seeking stable, long-term opportunities.

During the Annual Media Conference (AMC), YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of International Trade and Industry (MITI) emphasised the importance of investing in sustainable technologies. He stressed, “As the world increasingly confronts the realities of climate change,
the urgency of investing in sustainable technologies and solutions cannot be overstated. MITI is taking sustainability seriously as we craft policies to incentivise companies and industries to help us lay the groundwork for a more sustainable and equitable world. This must be a whole-of-nation effort, as we want to attract the right investments that will support local SMEs and supply chains, as well as give the rakyat more job opportunities. Ultimately, it is all about achieving inclusive socio-economic benefits to secure a brighter future for all Malaysians.”

Of the approved investments of RM264.6 billion (USD59.9 billion), this include a total of 4,454 projects, and expected to create 140,370 job opportunities for Malaysians.

Foreign Direct Investment (FDI) accounted for 61.7% of total investments, or RM163.3 billion (USD36.9 billion). Domestic Direct Investment (DDI) recorded 38.3%, or RM101.3 billion (USD23 billion).

The People’s Republic of China (PRC) led the way in total approved investments with RM55.4 billion (USD12.5 billion), followed by The United States of America (RM29.2 billion) (USD6.6 billion), The Netherlands (RM20.4 billion) (USD4.6 billion), Singapore (RM13.5 billion) (USD3.1 billion), and Japan
(RM11.4 billion) (USD2.6 billion).

Five (5) states have seen significant investment activity, with Johor having the most approved investments, totaling RM70.6 billion (USD16 billion). This is followed by Selangor (RM60.1 billion) (USD13.6 billion), Sarawak (RM28.2 billion) (USD6.4 billion), Wilayah Persekutuan Kuala Lumpur (RM25 billion) (USD5.7 billion) and Pulau Pinang (RM16.3 billion) (USD3.7 billion).

YBhg. Tan Sri Dato’ Seri Dr. Sulaiman Mahbob, Chairman of MIDA, in his Welcome Remarks stated that the significant investment results are the outcome of a collective effort by stakeholders in promoting economic growth, social stability, talent development, sustained economic inclusivity and the advancement of Malaysia’s digital economy.

The AMC theme reflects MIDA’s incorporation of the New Investment Policy (NIP) and Environmental, Social and Governance (ESG) principles into its strategies. The goal is to produce sustainable, long-term investments, as well as to collaborate with partners who prioritise “impact investment”.

Services Sector Dominates the Investment Landscape

Malaysia’s services sector recorded 3,581 projects worth RM154 billion (USD34.8 billion). This represents a 58.8% increase over the previous year’s investments of RM97 billion (USD23.3 billion), which is expected to create 63,464 new jobs.

Foreign investment accounted for 55.1% of total approved investments in the services sector, or RM84.9 billion (USD19.2 billion), with domestic investment accounting for the remaining 44.9%, or RM69.1 billion (USD15.6 billion).

The information and communications sub-sector dominated the services sector, with approved investments worth RM84.7 billion (USD19.2 billion), or 55%. There were five (5) projects related to Information and Communication Technology (ICT) services, including data centres and cloud computing services, with an investment value of RM72.4 billion (USD16.4 billion), or 85.5% of the approved investments in the information and communication subsector.

Real estate (RM28.9 billion) (USD6.5 billion), financial services (RM11.2 billion) (USD2.5 billion), utilities (RM10.8 billion) (USD2.4 billion), and distributive trade (RM6.2 billion) (USD1.4 billion) were among the other sub-sectors that contributed to the amount of investments approved.

Investment in Manufacturing Sector

Malaysia’s attraction as a top investment destination in the region remains strong, with a steady influx of high-quality investments in the manufacturing sector. This sector contributed RM84.3 billion (USD19.1 billion), or 31.9% of total approved investments in various economic sectors.

FDI accounted for 78.3% of total approved investments, totaling RM66 billion (USD14.9 billion), with DDI contributed for the remaining 21.7% (or RM18.3 billion) (USD4.2 billion).

The number of approved expansion/diversification projects in the manufacturing sector recorded 385 projects worth RM49.3 billion (USD11.2 billion), while the number of new projects approved were 416, with a value of RM35 billion (USD7.9 billion).

Electrical and electronics (E&E) are the top-performing industries in the manufacturing sector (RM29.3 billion) (USD6.6 billion), followed by machinery and equipment (RM8.4 billion) (USD1.9 billion), transport equipment (RM8 billion) (USD1.8 billion), chemical and chemical products (RM7.4 billion) (USD1.7 billion), petroleum products (including petrochemicals) (RM5.9 billion) (USD1.3 billion), non-metallic mineral products (RM5.8 billion) (USD1.3 billion), scientific and measuring equipment (RM4.7 billion) (USD1.1 billion) and rubber products (RM3.6 billion) (USD0.8 billion). These industries comprise for RM73.1 billion (USD16.5 billion), or 86.7% of total approved investments in this sector.

A total of 76,093 potential new job opportunities is expected to be created in the manufacturing sector, where it will require 27,894 (36.7%) positions for managerial, professional/technical/supervisory and skilled employment, reflecting the higher value chain transition of the manufacturing sector.

Investment in Primary Sector

The primary sector registered a total of RM26.3 billion (USD6 billion) in approved investments, or 9.9% of total approved investments in the various economic sectors, an increase of 52.3% from RM17.3 billion (USD4.1 billion) in 2021.

Domestic investment dominated the primary sector, accounting for RM13.9 billion (USD3.1 billion), or 52.9%, with foreign investment recording for the remaining 47.1%, or RM12.4 billion (USD2.9 billion).

The plantation and commodities sub-sector recorded RM2.2 billion (USD0.5 billion) of approved investments (2021: RM211.4 million or USD50.7 million). Meanwhile, the agricultural sub-sector attracted RM154.4 million (USD34.9 million) in total approved investments (2021: RM20.5 million or USD4.9 million).

MITI and MIDA Continues to be at the Forefront in Attracting Investments

Despite the global economic landscape’s challenges, Malaysia has shown unwavering determination in navigating these difficult times. MITI and MIDA have continued to play a proactive role in ensuring a steady flow of domestic and foreign investment, which has contributed to the country’s resilience.

MIDA has a number of promising projects in the works, with potential investments totalling RM14.6 billion (USD3.3 billion), indicating great potential for the Malaysian economy. The manufacturing sector has 31 projects with a potential investment of RM10.6 billion (USD2.4 billion), while the services sector has 218 projects with a potential investment of RM4 billion (USD0.9 billion). Moreover, the recent commitment by Tesla and Amazon Web Service (AWS) to invest in Malaysia is a testament to Malaysia’s political stability and institutional strengths. Overall, this reflects MITI’s and MIDA’s commitment to promoting sustainable economic growth and job creation in Malaysia.

“Moving forward, as Malaysia strives to become Asia’s investment gateway, we are making every effort to quickly emerge as ASEAN’s digital hub, owing to our highly developed ICT infrastructure, talented STEM pool, strong intellectual property protection framework, and rule of law. The revised New Industrial
Master Plan 2030 will set the tone for Malaysia’s industrial development by outlining new growth opportunities, improving ease of doing business, and attracting high-quality digital investments. To reduce our carbon footprint and promote sustainable development, we will prioritise investments that benefit the people, planet, and profit, as well as funding for green projects and renewable energy. Our goal is to create high-paying jobs for Malaysians while also ensuring that growth is equitable and beneficial to all stakeholders.” added Tengku Zafrul.

MITI and its agencies, such as MIDA, will continue to work hard to attract highquality digital investments, generate more value and opportunities for growth through data and cloud-based technologies, and create high-paying jobs for Malaysians. As the country aspires to become Asia’s investment gateway, the
Government will also ensure that growth is balanced and beneficial to all stakeholders via sustainable economic growth and prosperity for the rakyat.

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About MIDA

MIDA is the Government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

For media enquiries please contact:

Ms. Fatmah Ahmad
Director, Corporate Communications Division
Email: [email protected]| DL: +603-2263 2428

Malaysia Attracted RM264.6 Billion (USD59.9 Billion) in Approved Investments for 2022, to Focus on Investments that Promote Sustainable Economic Growth and Prosperity for the People

KUALA LUMPUR – 2 March 2023 – Amazon Web Services (AWS) celebrated a significant milestone today with the announcement of plans to open a Cloud Computing Infrastructure in Malaysia. The Malaysian Investment Development Authority (MIDA) views AWS’s plans to invest approximately RM25.5 billion (USD6 billion) by 2037 to establish an AWS Region, a testament to their confidence in Malaysia’s promising digital economy and its capacity to drive long-term growth. This investment will advance nationwide digitalisation, foster a spirit of creativity, and cultivate a world-class digital workforce to accomplish Malaysia’s ambition of becoming a cloud-first nation.

Datuk Seri Anwar Ibrahim, Prime Minister of Malaysia, announced AWS’s investment at the AWS Cloud Day Malaysia event, which was attended by YB Senator Tengku Datuk Seri Utama Zafrul Bin Tengku Abdul Aziz, Minister of International Trade and Industry (MITI); YB Rafizi Ramli, Minister of Economy; YB Teo Nie Ching, Deputy Minister of Communications and Digital; and YB Tuan Mustapha Sakmud, Deputy Minister of Human Resources.

Minister of MITI, YB Senator Tengku Datuk Seri Utama Zafrul Aziz applauded AWS’s decision to establish its Cloud Computing Infrastructure in Malaysia. “We welcome AWS’s investment to bring an infrastructure for cloud computing to Malaysia, which will create value and opportunities for growth using data and cloud-based technologies. By embracing cloud, Malaysia will enhance its global competitiveness by attracting foreign investors and creating market-ready talent, Equally important is the empowerment of all industries and local SMEs to expand their operations and pursue innovation. We also look forward to AWS’s continued investment in talent training and development, particularly on cloud-based technologies among Malaysia’s workforce. On a personal level, I am also pleased that the relations I have built with AWS in the last two years have finally borne fruit for Malaysia’s benefit,” said Tengku Zafrul.

Datuk Wira Arham Abdul Rahman, Chief Executive Officer of MIDA, attended the event and expressed, “MIDA has been facilitating and assisting AWS on their investment in the country, and we are proud and excited to witness this momentous event today. Malaysia already has a reputation as a “rising star” of the global data centre sector and by having AWS, the world’s leading cloud provider, make this investment in Malaysia will solidify our position as a data centre hub in the region. The investment and initiatives from AWS will provide Malaysia with cutting-edge technologies, which provides competitive edge to local businesses especially SMEs, and MNCs, helping them to grow.”

Malaysia has one of the most developed data centre markets in Southeast Asia, valued at RM4.7 billion (USD1.06 billion) in 2021 according to market analyst organization Arizton. This figure is expected to grow rapidly in the near future, rising to RM7 billion (USD1.57 billion) by 2027.

From January to September 2022, the information and communications sub-sector recorded approved investments valued at RM69.2 billion (USD14.9 billion). From the total approved investments of this sub-sector, RM60.7 billion (USD13.1 billion) investments for data centre activity were approved.

The Digital Investment Office (DIO) is at the forefront of facilitating digital investments, helping investors connect with local partners and navigate regulatory requirements. Through DIO, the Malaysian Government’s objective of attracting RM70 billion in digitalisation investments by 2025 is on track.

This is being further facilitated by strong investment in a range of other tech areas, including the communication network infrastructure as the nation transitions to 5G, which is also in tandem with a business-beneficial geographical location, abundant natural resources and a skilled workforce.

Key to developments to date – and more to come in the future – is the support from the Malaysian Government, with MIDA taking the lead to attract quality investments, harness the vast possibilities opened up by the digital revolution and leverage technology to navigate the challenges ahead.

Note: 1USD = RM4.48

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About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 21 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my  and follow us on Twitter, Instagram, Facebook, LinkedIn, TikTok and YouTube channel.

Media Contacts

Ms. Rosedalina Ramlan
Director, Business Services and Regional Operations, MIDA
Email: [email protected] | DL: +60322673515

Amazon Web Services (AWS) Announces RM25.5 Billion Investment to Launch an AWS Cloud Computing Infrastructure In Malaysia

The game changing initiative will be phased out as Malaysia’s borders open on 1 April 2022

Kuala Lumpur, 31 March 2022 – Following the recent announcement made by YAB Dato’ Sri Ismail Sabri Bin Yaakob, Prime Minister of Malaysia, that the country is transitioning into the endemic phase, Malaysia is set to reopen its border for international travellers including business travellers effective 1 April 2022. Thus, the One Stop Centre (OSC) which was established by the Malaysian Government on 2 October 2020 to facilitate the movement of business travellers following the gradual opening of the local economy post Movement Control Order (MCO) period, will be phased out effective 1 April 2022.

This is a positive step forward to economic recovery and Malaysia’s ability to continue attracting high-value and high-impact investments. Fully vaccinated travellers may enter Malaysia without prior approval from Malaysian authorities and are not subject to mandatory quarantine upon arrival.

Drawing the curtains of the OSC’s platform for Short Term Business Travellers entering Malaysia, investors are no longer required to apply for Entry Permission and Quarantine Mandatory Exemption to the OSC platform through the Safe Travel portal (https://safetravel.mida.gov.my/).

The Malaysian Investment Development Authority (MIDA), manages the Centre, which is a collaborative effort between the Ministry of International Trade and Industry (MITI), Ministry of Health (MOH), and Immigration Department of Malaysia (IMI) to ensure the legitimacy and health status of travellers entering Malaysia. The Business Travellers Centre (BTC) at Kuala Lumpur International Airport (KLIA) was also established as a key component of the OSC to facilitate Business Travellers movement – from entry to exit point.

Datuk Arham Abdul Rahman, Chief Executive Officer (CEO) of MIDA expressed, “These initiatives were a quick response by the Government during a trying time globally to ensure Malaysia’s competitiveness and availability as an investment destination were not compromised and that the country remained open for business despite the national health emergency. Throughout its operations, the OSC and BTC facilitated a total of 3,223 companies approved for Short-Term Business Travellers, with an estimated total investment value of RM171.82 billion.”

“With the establishment of the OSC, investors’ travel requests were expedited for approval, allowing them to continue doing business in Malaysia. The initiative, with the tagline, “Welcoming Investors, Keeping you Safe”, was instrumental in facilitating high-profile foreign investment projects as investors were able to visit the country to cement their decision to invest and operate in Malaysia.” he added.

The Government through MIDA has been proactive in facilitating investors during the border closure. It will take an ongoing effort to protect public health and strengthen the Malaysian economy. MIDA commits to be responsive in undertaking innovative and aggressive investment promotion initiatives that are aligned with Malaysian investment aspirations as the country transitions to endemicity.    

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About MIDA

MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube channel.

For more information, please contact:

Aizah Abdullah
Director of Industry Talent Management and Expatriate Division
Tel.: + 603-2267 3529
Email: [email protected]

The Closure of the One Stop Centre (OSC) for Business Travellers

Selangor, 18 March 2022 – Volvo Car Malaysia Sdn. Bhd., (Volvo Car Malaysia) a prominent automobile manufacturer announced the company’s electrification plan to produce its first assembled electric vehicle (EV). The company plans to manufacture the Complete Knocked Down (CKD) unit of electric vehicle (EV) at its manufacturing facility in Shah Alam, Selangor. Volvo Car Malaysia will be the first automotive brand in Malaysia that has a completed plug-in hybrid (PHEV) line for all car models.

In the Electrification Plan launching held at Petaling Jaya, Volvo Car Malaysia announced that the company will begin producing fully EV models in Malaysia. They introduced the XC40 Recharge Pure Electric model during the event. The production of this model will be the first electrification effort by Volvo Car Malaysia in the country and the company’s plans to continue leading the early automobile electrification initiative by exporting the locally assembled XC40 Recharge Pure Electric model to the ASEAN market. Moving forward, Volvo Car Malaysia plans to launch one (1) new locally assembled EV model every year beginning from 2022. This is in line with the company’s plan for going into full electrification by year 2030.

At the launching ceremony, Dato’ Seri Mohamed Azmin Ali, Senior Minister and Minister of International Trade and Industry (MITI) said, “The National Automotive Policy (NAP) 2020 has emphasised the need for adoption of Energy Efficient Vehicles (EEV) including EV in line with Malaysia’s commitment to reduce carbon emissions under the United Nation Framework Convention on Climate Change. The NAP has also outlined several specific initiatives to strengthen the EEV and EV ecosystem that will spur technology transfer and develop know-how for the local automotive industry to continue to thrive.

One pivotal project under the Twelfth Malaysia Plan (12MP) is the Centre of Excellence for Future Industry which operates as a high-end shared facility on the advancement of future technologies and innovations in Malaysia. This will be a key catalyst to the development of the Next Generation Vehicle, which includes EV with intelligent mobility functions, and will enhance our local industry capabilities not only in hardware but software solutions.”

The Senior Minister also added that Volvo’s move on making Malaysia one of its electrified vehicle hubs with models assembled here not only to serve the Malaysian market but also as an ideal gateway for the ASEAN market could not have come at a more opportune time. This is aligned to the Government’s pledge to drive sustainability and inclusivity as outlined in the Twelfth Malaysia Plan (12MP), with the commitment to achieve net-zero GHG emissions by 2050 earliest.

Datuk Arham Abdul Rahman, Chief Executive Officer (CEO) of the Malaysian Investment Development Authority (MIDA) echoing the Senior Minister stated, “MIDA welcomes this project and acknowledge the importance of EV as the future of mobility. Indeed, this project will encourage similar investments in line with the Government’s National Investment Aspirations (NIA) and the Environmental, Social and Governance goals. Moving forward, we hope to develop our very own EV industry and its ecosystem.”

As technology-driven trends such as diverse mobility, autonomous driving, EVs and connectivity will shape the industry over the next 10 to 15 years, the National Automotive Policy 2020 was developed to advance Malaysia as a regional leader in automotive manufacturing, engineering, technology, and sustainable development. Potential investors are welcome to make strategic investments into the areas of electric and autonomous vehicles, Next-Generation Vehicles (NxGV) and their related core and critical components such as engines, powertrains, Light and Radio Detection and Ranging (LIDAR and RADAR), Advance Driver Assistance System (ADAS), EV batteries, and battery management systems.

Charles Frump, Managing Director of Volvo Car Malaysia, said “Volvo Car Malaysia is ready to implement Volvo’s global plan for a fully electric line-up by 2030, starting with the launch of the XC40 Recharge Pure Electric model.

The XC40 Recharge Pure Electric is just one of our many steps to encourage consumers to adopt EVs for a more sustainable future. By mid-decade, Volvo aims to reduce its overall carbon dioxide (CO2) lifecycle emissions per car by 40 per cent. This means more than simply reducing tailpipe emissions – electrification is not enough. We must also reduce CO2 emissions across our operations and supply chain.”

Malaysia is the third largest automotive market in ASEAN, making the automotive industry a strategic perk of the country’s manufacturing sector. There are currently 28 manufacturing and assembly plants in Malaysia producing motor vehicles (passenger vehicles, commercial vehicles, motorcycles, and scooters); and automotive parts and components. The automotive ecosystem also encompasses research and design, product and process development, materials management, and after-sales services.

The production of the first locally assembled EV by Volvo Car Malaysia will be the catalyst to advance the automotive industry in line with the NAP 2020 and propel Malaysia to become a hub for EV in the ASEAN region.

As of 2021, MIDA has approved 36 projects within the EEV ecosystem with an approved investments amounting to RM1.9 billion. Most of the approved investments were from foreign sources amounting to RM1.1 billion (58 per cent), while the remaining of RM0.8 billion (42 per cent) were from domestic direct investments. More specifically, Malaysia secured ten (10) investment projects related to the manufacturing and assembly of electric vehicles and their components. These projects worth of RM1.2 billion investments will create more than 900 employment opportunities in the country.

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About MIDA
MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube channel.

About Volvo Car Malaysia
Volvo Cars established its presence in Malaysia in the early 1960s through an independent importer and distributor – Federal Auto Cars, before formally establishing Volvo Car Malaysia in 1999. Since then, Volvo Car Malaysia has gone from strength to strength and built a network of 14 dealers across the country.

The popularity and demand for Volvo cars locally had led to the establishment of the Volvo Car Manufacturing Malaysia in 1967 (previously known as Swedish Motor Assemblies), which is now Malaysia’s oldest and longest-running vehicle assembly plant. In 2016, Volvo Car Malaysia was the first market to locally assemble the XC90 PHEV outside of Sweden, which paved the way for the assembly of other Volvo PHEVs and recharge the brand’s commitment to providing a sustainable and safe driving experience. Volvo Car Malaysia sells premium-segment car models in two versions: sedans (S60 and S90) and SUVs (XC40, XC60 and XC90).

As of February 2021, it became the first automotive brand in Malaysia to offer a full range of PHEVs for all its models. In line with its global vision of becoming climate neutral by 2040, Volvo Car Malaysia is committed to bringing greater awareness on the current climate challenges to Malaysians and aims to become a leader in sustainability in the automotive industry through its product offerings, business operations, and local initiatives.

For more information, please contact:

MIDA
Mr. Nazuki Abdullah
Director, Transportation Technology Division, MIDA
Telephone: 03-2267 6688
Email: [email protected]

Volvo Car Malaysia
Ms. Elaine Ng
Telephone: +60 12-290 1108
Email: [email protected]

Volvo Car Malaysia Announced To Produce Its First Assembled Electric Vehicle (EV) In Malaysia

Connecting dreams, empowering futures

Kulim, Kedah, 28 March 2022 – A landmark event for Malaysia and the local automotive industry today, Sime Darby and Porsche rolled out the first locally assembled Cayenne for the domestic market. The premiere took place at the inaugural launch of the first assembly facility for Porsche vehicles outside of Europe at Sime Darby’s motor vehicle production and assembly facility in Kulim, Kedah.

A testament to the long-standing and trusted partnership built for well over a decade, Sime Darby and Porsche are connecting more Malaysian Porsche fans to their dream sports car, while at the same time empowering futures by unlocking the potential of the local community and workforce. The Cayenne models with right hand drive are only available in the domestic market.

The launch was officiated by the Raja Muda of Kedah, Duli Yang Teramat Mulia Tengku Sarafudin Badlishah Ibni Al Aminul Karim Sultan Sallehuddin, with Menteri Besar of Kedah Yang Amat Berhormat Dato’ Seri Haji Muhammad Sanusi Md Nor in attendance, along with the members of the Board and Management of Sime Darby Berhad, and members of the Executive Board and Management of Porsche AG and Porsche Asia Pacific.

The local assembly facility underscores Porsche’s commitment to Malaysia as well as the ASEAN region and demonstrates Sime Darby’s dedication to expanding its high value assembly capabilities as a critical element for growth for its Motors’ business.

Sime Darby Berhad Group Chief Executive Officer Dato’ Jeffri Salim Davidson said, “We are honoured by Porsche’s continued trust in Sime Darby, as we deliver a product consistent with Porsche’s highest standards for quality, performance and driving experience. The facility, which is 100% staffed by highly skilled Malaysians, not only supports the growth of our businesses across the automotive value chain in Malaysia; but also creates a pipeline of jobs to empower the local community.”

Detlev von Platen, Member of the Executive Board for Sales and Marketing at Porsche AG, said, “Today we have reached a new milestone, rolling out the first locally assembled Cayenne and fulfilling the sports car dream of even more Malaysian Porsche fans. Our growth strategy underlines the importance of Malaysia for Porsche as we look to expand our presence in the ASEAN region. And it demonstrates our confidence in Sime Darby as a strong partner on our side.”

Driving Sustainable Futures

“The new assembly site in Malaysia meets specific market needs and operates alongside Porsche’s established network of production sites in Europe. In particular it meets comprehensive quality standards set forth by Porsche when assembling Porsche sports cars,” said Albrecht Reimold, Member of the Executive Board for Production and Logistics at Porsche. “Additionally, the facility was built alongside our production philosophy: smart, lean and green.” Therefore, the new assembly facility is not only a benchmark in efficiency and quality, but also in sustainability.

With this in mind the local assembly facility is designed to meet high sustainability standards: on the roof, solar panels provide all the power needed for operation, and on the ground, rainwater harvesting technologies ensure wastewater is kept to a minimum.

The Sime Darby local assembly facility is staffed by a team of highly skilled and 100% Malaysian talent, all of whom have received comprehensive training from Porsche.

The assembly is further supported by a network of local suppliers and contracted service providers in the area, empowering the futures of the local community with job opportunities, upskilling prospects, and potential for further expansion.

Senior Minister and Minister of MITI, Dato’ Seri Mohamed Azmin Ali welcomed Porsche’s expansion in Malaysia and expressed that this development is aligned to the National Automotive Policy (NAP) 2020, which aims to advance Malaysia as a regional leader in automotive manufacturing, engineering, technology, and sustainable development. Sime Darby and Porsche choose Malaysia for its first assembly facility outside of Europe, signifying the company’s confidence in Malaysia’s conducive ecosystem and strength to support their long-term growth. This assembly facility in Kulim, Kedah also acknowledges the capability of Malaysia’s local talent of highly skilled engineers and technicians towards expanding their footprint in the ASEAN region.

He also said that the Government views the automotive industry as a strategic economic sector acting as a gateway to boundless precision engineering possibilities. Established automotive-producing nations have demonstrated the vibrancy of the global supply chain’s development, which has been instrumental in the substantial growth of creating jobs and skilled workforce as well as generating many business opportunities for Small and Medium Enterprises.

Datuk Arham Abdul Rahman, MIDA CEO further concurred, “This new assembly facility in Kulim indicates Porsche and Sime Darby’s assured commitment and trust in the Malaysian business ecosystem, especially in assembling OEM parts and devices. The Malaysian Government will strive to build a conducive environment for the foreign and domestic industry leaders to do business in Malaysia given the nation’s readiness to provide long term business opportunities and connect to capable technology partners. With Porsche’s reputation as a high-performance car manufacturer that demands state-of-the-art technology and precision engineering, this partnership is indeed strategic to our efforts to promote and enable high-value; high-technology; knowledge, capital and skill-intensive; as well as high income employment to solidify Malaysia’s position as a competitive and profitable investment destination.”

In 2021, MIDA has approved 36 projects within the Energy Efficient Vehicle (EEV) ecosystem, amounting RM1.9 billion. Majority of the approved investments were from foreign sources, amounting to RM1.1 billion (58 per cent), while the remaining RM0.8 billion (42 per cent) were from the domestic direct investments.

Locally Assembled, World-Class Quality

The Porsche Cayenne has long been the symbol of Porsche’s broadening horizons, appealing to new customer segments by combining an elegant interior and unparalleled comfort with robust dynamism and functional off-road abilities.

Today, it becomes another symbol of Porsche’s global expansion, as the first locally assembled Cayenne rolled off the assembly line of Sime Darby’s facility for Porsche.

The locally assembled right hand drive Cayenne comes with an elevated and enhanced standard equipment range specified exclusively for the Malaysian market, with a specially- curated Porsche Exclusive Manufaktur option package and a special Porsche Design timepiece available for further personalisation. A wide range of lifestyle-oriented Tequipment accessories are also available on request.

The inaugural launch of this new local assembly facility for Porsche forms the latest highlight amid numerous exciting developments in the country: Porsche Malaysia recently announced the first high performance enroute charging network in partnership with Shell which will be finalized this year; a new Porsche Centre in Johor Bahru, complementing the existing facilities in Kuala Lumpur and Penang, is also scheduled to open later this year.

Find out more about the Cayenne at your nearest Porsche Centre, at mycayenne.online or visit www.porsche.com.my for more information.

About Sime Darby Berhad
Sime Darby Berhad is a partner of choice for the world’s best brands in the Industrial and Motors sectors. We deliver sustainable value to our stakeholders through operational ex- cellence, high performance standards and good corporate governance. Founded in 1910, Sime Darby Berhad today has a workforce of approximately 20,000 employees and a pres- ence in 19 countries across the Asia Pacific region. It is listed on the main market of Bursa Malaysia with a market capitalisation of RM15.53 billion (USD3.71 billion) as at 27 March 2022. For more information, please visit www.simedarby.com.

Sime Darby Berhad
Group Communications
Tan Yee Pheng
E-Mail: [email protected]

About Sime Darby Auto Performance Sdn. Bhd.
Sime Darby Auto Performance (SDAP) is a subsidiary of the Motors Division of Sime Darby Berhad. SDAP has been the authorised importer of Porsche in Malaysia since 2010, and distributes Porsche vehicles and parts, as well as provides after sales services for Porsche vehicles in Malaysia through its three Porsche Centres nationwide, namely Porsche Centre Ara Damansara, the largest Porsche Centre in a single facility within Asia Pacific, Porsche Centre Sungai Besi and Porsche Centre Penang. Porsche Centre Johor Bahru is slated to be launched in Q3 2022.

For media queries, kindly contact
Sime Darby Auto Performance Sdn. Bhd.
Public Relations and Media
Shammi Chung
E-Mail: [email protected]

About MIDA
MIDA is the government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube.

For media queries, kindly contact:

MIDA
Mr. Nazuki Abdullah
Director, Transportation Technology Division, MIDA
Email: [email protected]
Tel: 03-22676688

Sime Darby and Porsche roll-out first locally assembled Cayenne at launch of first assembly facility outside Europe