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Driven by the semiconductor boom and trade diversion, Penang’s approved manufacturing investments hit an all-time high of RM76.2 billion in 2021. Not only that the figure surged 440% year-on-year, it also exceeded the cumulative investments garnered from 2012 to 2020 amounting RM73.1 billion.

Unfortunately, the massive flow of investments into the island state has created an unwanted consequence — a huge shortage of talent. It is estimated that more than 12,000 jobs have been created from the manufacturing investments in 2021 alone.

Last month, The Edge travelled to Penang to meet captains of industry in the semiconductor and electrical and electronics sectors. Surprisingly, most of them are not overly worried about the global chip downturn. Instead, their bigger concern is the shortage of human talent in the Silicon Valley of the East.

In an interview with The Edge, Invest-in-Penang Bhd (InvestPenang) chief executive officer Datuk Loo Lee Lian shares her views on the talent shortage issue, and reveals the agency’s plans to develop, attract, and retain human talent.

But first, she says, Penang has to take a breather while waiting for the talent and labour market to consolidate, because it is important for the state to “expand responsibly” when it comes to attracting new foreign investments.

Meanwhile, Micron Technology Inc president Datuk Sanjay Mehrotra and ViTrox Corp Bhd co-founder Chu Jenn Weng stress the importance of building a strong culture within their companies, so that they could continuously attract the right talent.

They also share views on the global semiconductor downcycle and when the chip industry could recover.

Besides, Datuk Seri Lee Kah Choon, a special adviser to the chief minister of Penang on economic affairs, as well as Sunway University Business School professor of economics Dr Yeah Kim Leng believe the Government and the Ministry of Education could do more in addressing the talent shortage issue.

Last but not least, The Edge has also compiled infographics to show an overview of Penang’s economic performance and its labour force.

Source: The Edge Markets

Penang — No short of investments, but of talent

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Local oil and gas (O&G) players are expected to benefit from the rise in domestic capital expenditure (capex) by Petroliam Nasional Bhd (Petronas), said analysts.

Maybank IB Research, citing a 34% year-on-year (y-o-y) increase in Petronas’ domestic capex, said its top picks in the sector include Yinson Holdings Bhd, Dialog Group Bhd and Hibiscus Petroleum Bhd.

“Meanwhile Bumi Armada Bhd, Velesto Energy Bhd, Wah Seong Corp Bhd and Malaysian Marine & Heavy Engineering [Holdings Bhd] are our small and mid caps ‘buy’,” it said.

It said Petronas is on track to meet its RM100 billion earnings target for FY2022 after the national oil company posted strong nine-month financial results with core net profit of RM72 billion, up 173% y-o-y.

“We expect oil price to remain elevated, as the winter period approaches and geopolitical risk remains high,” it said, adding that crude oil average estimate for FY2022 is unchanged, at US$100 per barrel (Brent).

“We do not rule out a higher oil price outlook in FY2023 considering the continued tightness in the global supply market, due to the prolonged structural under-investment since 2015,” it added.

Maybank also noted Petronas’ efforts in carbon emissions abatement and scaling up investment allocation on carbon neutral projects.

“With its NZCE 2050 pathway announced on Nov 1, 2022, Petronas has set a near-term target to cap operational emission to 49.5 million tonnes of CO2e by 2024 in Malaysia and achieve 25% absolute emissions reduction groupwide by 2030 (based on 2019’s baseline),” it said.

It said for this, Petronas will allocate 20% of its capex for decarbonisation projects and expansion into cleaner energy solutions over the next five years (2023 to 2026). Petronas targets 50% improvement in cashflows from operations by 2025 and 30% growth in revenue from new non-traditional business by 2030.

External headwinds remain

The Bursa Energy Index continues to track the falling crude oil prices, which fell to almost a year low of US$77.69 per barrel on Thursday (Dec 8) morning.

At 11am, the index was down 12 points at 775.81, with more losers (12) than gainers (five).

Leaders include Wah Seong Corporation Bhd (up 5.7% at 64.5 sen), Reach Energy Bhd (up 10% at 5.5 sen) and Icon Offshore Bhd (up 3% at 15.5 sen). Among the laggards were Dayang Enterprise Holdings Bhd (down at 3% at RM1.30), Hibiscus Petroleum (down 3.17% at RM1.02) and Petron Malaysia Refining & Marketing Bhd (down 0.94% at RM4.22).

Investors are assessing the implications from the price cap imposed on Russian crude, and China’s relaxation on Covid measures on crude oil prices.

Meanwhile, International Energy Agency (IEA) in a recent statement said the energy security concerns caused by Russia’s invasion of Ukraine have motivated countries to increasingly turn to renewables such as solar and wind to reduce reliance on imported fossil fuels, whose prices have spiked dramatically.

Global renewable power capacity is now expected to grow by 2,400 gigawatts (GW) over the 2022-2027 period, an amount equal to the entire power capacity of China today, according to Renewables 2022, the latest edition of the IEA’s annual report on the sector.

Source: The Edge Markets

Local O&G sector to benefit from higher Petronas capex

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Investments from Singapore amounting to RM3.968 billion is one of the highlights of the Johor Economic Trade and Cultural Office’s (JETCO) achievements.

State Investment, Trade and Consumer Affairs Committee chairman Lee Ting Han cited the milestone as to how the setup of the office had pushed foreign direct investment into Johor.

He said the foreign injection was also aided by Malaysian Investment Development Board (MIDA) and Invest Johor.

Lee said there were 15 discussions with various agencies in Singapore via JETCO. Three series of familiarisation visits involving businessmen from Singapore to Johor were also organised.

“As of June this year, RM6.668 billion in investment in the manufacturing sector was recorded, of which RM5.65 billion was foreign direct investment (FDI).

“Out of that RM5.65 billion, RM3.968 billion was from Singapore mostly in electric and electronics (E&E) as well as medical equipment.

“This is among JETCO’s success stories. Next year, the state government will ramp up its efforts to attract more outside investments including those from Singapore,” he said at the Johor State Assembly here today.

He said this when answering a supplementary question from R .Vidyananthan (BN-Kahang) on the effectiveness of JETCO in bringing investment from Singapore to Johor.

To a question, Lee said JETCO also embarked on numerous innitiatives to attract more investment and collaboration opportunities through smart partnerships with relevant agencies from Singapore.

“JETCO also participated in three expos related to trade and tourism in Singapore.

“All these efforts are seen to have a very positive and encouraging impact on Johor,” he said.

Earlier, former Menteri Besar, Datuk Seri Hasni Mohammad (BN- Benut) asked Lee on the initiatives that JETCO would conduct to target the republic and multiply opportunities for Johor-Singapore cooperation in the field of sustainable development.

Source: NST

RM3.968 billion investments from Singapore among key successes of Johor’s JETCO

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The Malaysian Technology Development Corporation (MTDC) expects the country’s technological developments to accelerate, backed by a thriving entrepreneurial ecosystem which is increasingly supported by the youth.

MTDC chief executive Datuk Norhalim Yunus said more and more youths are keen to delve into the technology fields.

“Many young entrepreneurs dare to take risks to commercialise the technology they had developed and are willing to wait a long time (for their products to be successfully commercialised),“ he told reporters after MTDC’s 30th Anniversary Celebration themed ‘Odyssey Beyond The Horizon’ on Dec 7.

Norhalim said the MTDC is currently focusing on “deep tech” which requires in-depth research and development, and subsequently the scaling up of the results so that products can be created according to the required standards and quality.

Priority areas include biomedical and electrical and electronic, he said.

“Moving forward, we will move vertically towards chip design. We hope that one of the companies we invested in will be listed on Bursa Malaysia very soon, and three more are expected to be listed in the first and second quarters of next year.

“One of them is TT Vision, a company that is engaged in providing machine vision solutions and development of automation and robotics, the second is a company involved in Industry 4.0 technologies, while the third is an engineering manufacturing services company,“ he said.

MTDC’s 30th-anniversary celebration was a commemoration of its 30-year journey in developing technology-based companies, including one of the earliest companies to receive MTDC’s investment, namely Globetronics Technology Bhd back in 1993, as well as the commercialisation of new technologies,

Additionally, a coffee table book entitled “30 Techno Dream”, featuring 30 companies of various stages of progress, size and investment history was also launched in conjunction with the celebration.

To date, MTDC has funded and invested in over 850 Malaysian companies, some of which have been successfully listed on local and international bourses, achieving more than RM1 billion in market capitalisation.

Source: Bernama

MTDC expects Malaysia’s tech development to accelerate

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United States-based automation company Lanco Integrated expects its newly launched manufacturing facility at the Batu Kawan Industrial Park (BKIP) here to be ready to start shipping its products by year-end.

Vice-president of sales and marketing Barry Rahimian said the establishment of the new facility, which also marked the relocation of its headquarters in Asia to Penang from Hong Kong, will construct, design and build a customised engineered turnkey automated assembly system.

“The system is used in various industries including the medical industry, commercial industrial, automotive, aerospace, consumer products and more.

“About US$3 million (RM13.19 million) was allocated for this facility and it is expected to create about 15 to 20 job opportunities,” he told reporters at the grand opening ceremony of the facility here on Dec 8.

Commenting on the reason behind the relocation of its Asian headquarters, he said Penang offers a competent platform considering its versatile talent pool, supportive infrastructure and strong industry clusters.

He said this would enable industry players to enjoy far-reaching benefits in terms of operational advantages.

“We certainly believe that this facility will play a key role in establishing Lanco as a leading automation company to serve our customers in the region,” he said.

He said there are plans to expand the manufacturing facility as well as to set up sales and service offices in Malaysia and regionally such as Thailand, the Philippines, Singapore and Vietnam in the next few years.

Meanwhile, Penang state executive councillor for trade, industry and entrepreneurial development Datuk Abdul Halim Hussain said the state is pleased to be the location of choice for Lanco’s new manufacturing facility.

Source: Bernama

Lanco’s new facility to start shipping products by year-end

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Malaysia is predicted to be relatively resilient among Asean economies, according to the Institute of Chartered Accountants in England and Wales (ICAEW).

In a statement on Wednesday (Dec 7), ICAEW said China’s plus one strategy, which involves the diversification of business investment and supply chain ecosystems, is vital to the growth of Asean’s economy.

Placed favourably in the diversification of ecosystems, ICAEW cited Malaysia, for instance, as being well placed to pick up mid- to high-value supply chain systems, with Indonesia looking to catch up aggressively.

ICAEW noted further that due to Malaysia’s gross domestic product (GDP) being relatively less dependent on net trade and tourism compared to other emerging economies in Asean, it is projected to also be less impacted by exogenous factors and the global recession being forecast next year.

However, Malaysia has one of the highest gross government debt-to-GDP ratios in the region, and given that the budget deficit is not projected to drop by much, ICAEW viewed that there is limited fiscal space for policy offsets, and GDP growth in Malaysia is projected to shrink from 9.2% in 2022 to 2.7% in 2023.

Meanwhile, countries like Vietnam remain a paramount source of labour-intensive manufacturing and production, and as such, ICAEW expects Asean to still see promising growth in years to come.

According to ICAEW, Malaysia’s long-term growth prospects remain positive, with domestic demand in 2022 projected to contribute the highest percentage over the last two decades to GDP.

However, just as economic activity is picking up, with businesses adjusting to new ways of working and benefiting from pent-up customer demand, ICAEW noted that it now sees spiralling energy and input costs, high inflation and weak consumer confidence leading to a global recession.

Additionally, international travel to Southeast Asia is also expected to see less of a recovery in 2023 compared to the South Asia and Oceania regions.

“The global economy is facing new headwinds, partly due to Russia’s invasion of Ukraine, but also due to changes in the wider economic, social, and political landscape.

“Our institute and members will be at the forefront, as we help businesses and economies through these difficult times, much like how we did during the Covid-19 pandemic,” said ICAEW president Julia Penny during her opening address at the fourth-quarter ICAEW Economic Insight Forum webinar on Dec 1.

Key findings from the economic forecasts were presented by Priyanka Kishore, Oxford Economics’ head of India and Southeast Asia macro services.

She was joined by other panellists, namely PwC Malaysia risk assurance partner Nik Shahrizal, ICAEW head of financial services Reuben Wales and World Bank Group senior economist Wael Mansour, in a panel discussion about economic transformations that countries may face following elections, long-term investment decisions, rising interest rates and inflation.

Source: The Edge Markets

ICAEW: Malaysia predicted to be relatively resilient among Asean economies

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Malaysia remains the preferred investment destination among Chinese investors in the digital economy despite global macroeconomic turmoils, said Malaysia Digital Economy Corporation (MDEC) chief digital investment officer Raymond Siva.

He said some of the prominent companies from China awarded Malaysia Digital Status recently are Bytedance, Chin Data, ChinaSoft International and GDS Data Centers.

Raymond was speaking at a seminar on ASEAN Media’s View on Digital China Media Tour 2022: A New Chapter in Smart City held online on Wednesday.

On July 2022, the government launched the MD initiative, which will succeed Multimedia Super Corridor (MSC) Malaysia to drive digital transformation in focus areas that present high-growth potential, opportunities, importance to boost the national digital economy.

The Malaysian Government, through MDEC, will award Malaysia Digital Status to eligible companies to participate and undertake any of Malaysia Digital’s activities. Malaysia Digital Status companies will be entitled to a set of incentives, rights and privileges from the government, subject to necessary approvals, compliance to applicable conditions, laws and regulations

Raymond said within just two months since its launch, MD has successfully brought in RM42 billion worth of foreign direct digital investments and RM4.76 billion from expanding domestic direct digital investment (DDI), generating 6,000 high-value jobs.

Meanwhile, ASEAN China-China Centre Secretary-General Shi Zhongjun said as the world’s fifth and second-largest economies in the world and with a combined population of over two billion, ASEAN and China are highly complementary in the digital economy.
The ASEAN Digital Masterplan 2025, he said, sets the vision to transform ASEAN as a leading digital community and economic bloc while China is at the forefront of digital economy development with world-leading digital infrastructure.

“Promoting the ASEAN-China digital economy partnership will help the two sides overcome current economic difficulties caused by Covid-19, gain greater growth momentum and achieve common development and prosperity,” he said.

ASEAN Media’s View on Digital China Media Tour 2022, organised by China Daily and ASEAN-China Centre and co-organised by China Daily Website and Cyberspace Administration of Shenzhen, is a platform to bring new insights, new proposals to ASEAN and China’s digital cooperation.

Source: Bernama

Malaysia a preferred investment destination among Chinese investors — MDEC

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Clean energy specialist Solarvest Holdings Bhd is venturing into the electric vehicle (EV) charging port market, with the launch of EV charging and mobility solutions called PowerBee.

“Leveraging on our existing renewable assets and expertise in solar, we are confident in Solarvest’s development of green charging infrastructure (PowerBee) to provide reliable, accessible, and affordable clean energy solutions,” Solarvest chief strategy officer Leon Liew Chee Ing said in a virtual press conference on Wednesday (Dec 7).

Liew listed three target market segments and product positioning for PowerBee: the residential segment with seven to 22 kilo-watt (kW) alternate current charger, commercial and industrial (C&I) with slow charging of 11 to 22kW or fast charging of 30 to 60kW, and highways with 60-180kW.

“[The main target segments] will be the high-rise buildings (residential), and our existing customer portfolio in C&I,” he added, noting that these segments are the “low-hanging fruit” that most of the big players will not venture into.

Liew highlighted that Solarvest does not plan to compete with bigger EV infrastructure players like Petroliam Nasional Bhd and Tenaga Nasional Bhd, but will instead aim to utilise the company’s engineering expertise to work with and complement them.

“Most of the players [in the EV charging infrastructure market] will be able to complement and work together with each other to fast-track the adoption of EVs in the market. That is our main goal,” he added.

Liew said that PowerBee will be starting small in phases of deployment and subsequently proceeding with scaling up, depending on the uptake of users, noting that Solarvest is maintaining focus on a profitable return.

“We will start with a minimum of one to two chargers per high-rise building and eventually phase up to five, 10, or 20 once we have the [required] number of [EV] users coming in.

“It will be based on case to case, the scale will not be too much, but [the capital expenditure] we are looking at is a few million, but we are looking for a profitable return before we deploy more infrastructure,” he said.

Meanwhile, Liew said that he foresees EV adoption to be ramped up when automakers such as Perusahaan Otomobil Kedua Sdn Bhd or Proton Holdings Bhd introduce affordable options to the market, which he believes may occur in the next two to three years.

“Also, it depends on the policy of Malaysia, as our gasoline price is still one of the cheapest in the region, a lot cheaper than in Indonesia and neighbouring countries. So it depends on the policymakers, and how [they] balance between the subsidy on the internal combustion engine and the future subsidy of the EV to have the same level playing field,” he added.

Liew noted that as of now, there may be only around 2,000 EVs on Malaysian roads, but he added that two or three years down the road, that number may go up to the tens or hundreds of thousands.

“But we do not want to be late to the game, we want to go in with a phased approach. We are not going to put in large capital to deploy, we have to wait for the long term before we can see any profit coming in.

“So we will do a phased approach to go at a smaller scale and when we see the adoption picking up, we will increase from there,” he said.

Liew said that once PowerBee’s offering in Malaysia is firmed up, Solarvest plans to expand the company’s EV charging and mobility solutions overseas to Indonesia, the Philippines, Vietnam and Taiwan.

As of 11.56am on Wednesday (Dec 7), shares of Solarvest stood unchanged at 80.5 sen, giving the company a market capitalisation of RM537.38 million.

Source: The Edge Markets

Solarvest eyeing a piece of EV infrastructure pie with PowerBee launch

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Malaysia received US$5 billion (RM22.06 billion) in health-related greenfield investments from 2008 to 2021, according to a recent report by the United Nations Economic and Social Commission for Asia and the Pacific (Escap).

In a statement on Wednesday (Dec 7), Escap said the ongoing Covid-19 pandemic has exposed critical cracks in health sector investments in Asia and the Pacific, with the sector’s foreign direct investment (FDI) dropping by 45% from 2019 to 2020 and continuing to decline to 34% in the first three quarters of 2022.

The Asia-Pacific Trade and Investment Trends 2022/2023 by Escap further highlighted that the pharmaceutical industry attracted the highest amount of FDI (US$32 billion) between 2008 and 2021 — significantly more than investments in the medical devices (US$20 billion), biotechnology (US$17 billion) and healthcare (US$10.8 billion) subsectors.

It said the US was the largest investor, making up 35% of all health-related greenfield investments (2008-2021), followed by Switzerland, Japan, Germany and France.

China (US$33 billion) was the largest receiver in the same period, followed by India (US$14 billion), Singapore (US$9 billion) and Malaysia (US$5 billion).

Escap said many countries in the region such as Sri Lanka, Brunei, Bhutan, Timor-Leste and Thailand have invested in the health sector as a core policy objective.

However, it said certain key challenges continue to exist, such as the limited capacity of countries to attract the quantity and quality of investment needed due to poor regional and domestic investment ecosystems, poor infrastructure and related services, as well as the lack of capital, technology and skills.

United Nations under secretary general and executive secretary of ESCAP, Armida Salsiah Alisjahbana, said regional cooperation and political commitment to openness for investment will be crucial to helping economies build back better and harness the potential of FDI.

Escap said regional merchandise trade growth will be limited in 2022 following a global demand slowdown in the second half of this year. Escap forecast merchandise trade to total US$19 trillion, with real exports expected to grow by 3% while imports are seen to contract by 0.3%.

It said inflationary pressures also dominated in 2022 with varying impacts across the region.

Assuming that inflation will be effectively curbed during next year, regional merchandise trade is expected to continue growing modestly in 2023 with 1.6% growth in real exports and 0.7% in real imports, it said.

The agency said Asia and the Pacific services exports are expected to grow at above the global average of 8.7% while imports are expected to grow at above the global average of 9.8% in 2022, supported by a vigorous travel sector, heightened demand for ICT services and a less constrained transport sector.

However, for 2023, Escap estimated the value of these sectors to grow slightly below this year’s performance, at 7.5% for exparts and 5% for imports.

Escap said greenfield investments in the region have remained resilient, growing by 6% in 2022 despite the global geopolitical and economic pressure.

For the first time, India outpaced China and became the largest destination and source of greenfield FDI (US$60 billion of inward FDI and US$35 billion in outward FDI).

Source: The Edge Markets

Malaysia received US$5 bil in health-related greenfield investments from 2008 to 2021

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The Sustainable Energy Development Authority (SEDA) has awarded 32 companies the Feed-in Tariff (FiT) quotas this year with a total capacity of 111.407MW, which is expected to generate investments worth RM1.14 billion.

SEDA said the FiT quota applications for the year 2022 will also create as many as 540 job opportunities in the renewable energy (RE) industry.

“The FiT quota was fully available via an e-bidding exercise for biogas, biomass and small hydropower sources in August 2022 with a total quota offered of 187MW,” it said in a statement.

SEDA revealed it received encouraging participation from 68 companies with a total capacity of 312.007MW.

The FiT mechanism was introduced back in 2011 to encourage energy generation through renewable sources.

These approved RE projects are expected to generate and supply electricity starting in 2025 and 2027.

“This is part of the government’s efforts to boost the country’s economic growth, particularly in the development of the RE sector while supporting the target of 31% installed capacity of RE by 2025 and 40% by the year 2035,” SEDA said.

Since the FiT mechanism was introduced back in 2011, a total of 1,423.96MW quotas had been approved for all renewable sources involving 10,480 projects nationwide.

The 2022 FiT quota application results can be accessed through the SEDA Malaysia portal at www.seda.gov.my.

Source: Bernama

32 companies awarded FiT quotas, set to generate RM1.14 bil investments

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Gamuda Berhad has signed a subscription and shareholders’ agreement (SSA) with ERS Energy Sdn Bhd and its shareholders to subscribe for RM200mil worth of new shares in ERS Energy.

With the SSA, Gamuda will own a 30% equity interest in the homegrown solar energy service provider.

This affiliation between Gamuda – a regional leader in delivering innovative breakthrough solutions for infrastructure – and ERS Energy, a leading solar engineering, procurement, construction, and commissioning company in the Asean region, will see both parties forging a strong collaborative partnership in renewable energy (RE), leveraging on each other’s expertise and track records.

The strategic investment in and partnership with ERS Energy will also fast-track Gamuda’s RE plans, as it will enable the group to actively participate in the world’s transition to net zero and to grow its RE asset portfolio to over 800MW in the next few years. This could position the group to be Malaysia’s largest private RE producer.

It will also serve as a springboard for the group in pursuing much wider energy-related opportunities presented by the trajectory of the global energy transition, including energy storage, smart grids and associated infrastructure.

According to Gamuda deputy group managing director Mohammed Rashdan Yusof, the equity participation in ERS Energy is aligned with group’s sustainability and decarbonisation commitments outlined in its Gamuda Green Plan 2025.

“Following the launch of Gamuda Green Plan 2025 last year, we hinted at this significant foray into renewable energy. The Gamuda Green Plan 2025 commits the group to reduce our carbon emissions intensity by 30% in 2025 and 45% in 2030.

“The closure of this deal came at an opportune time, given the recent successful sale of our four highway concessions,” he says.

He adds that investing in RE and other green vertical businesses is one of the company’s strategies to build a new baseline recurring income stream for the group.

ERS Energy managing director and co-founder Jonathan Kan notes that the strategic partnership will strengthen its foothold in the regional RE markets.

“This alliance will boost greater clean energy adoption and accelerate the momentum of the sustainability agenda towards reducing carbon emissions in Malaysia and the region,” he says.

Established in 2009, ERS Energy is one of the early entrants to Malaysia’s solar scene and has more than 13 years of experience in the solar energy industry.

Since then, it has evolved into a major full-fledged solar turnkey service provider in Asean – including presence in Vietnam, the Philippines, Indonesia and Singapore – with more than 695MW solar capacity installed.

It is currently building utility-scale projects totalling 557MW, bringing the aggregate capacity to 1.2GW.

The subscriptions, which will see Gamuda surface as the single largest corporate shareholder of ERS Energy, will play an integral role in delivering Gamuda’s RE aspirations for its Penang South Islands (PSI) project.

Gamuda has committed to delivering 100% RE supply to the proposed 283-hectare Green Tech Park located within Island A of the PSI, an industrial zone designed with comprehensive green features catering for the next generation of technology players with aggressive carbon reduction commitments.

ERS Energy is developing a 39MW solar power plant under the New Enhanced Dispatch Arrangement (NEDA) framework, which will form the base of the recently announced Corporate Green Power Programme (CGPP).

A programme that allows corporate consumers to purchase RE virtually, the CGPP will be the main delivery pathway for PSI investors to meet their RE commitments.

In addition, ERS Energy’s expertise and capabilities in offering tailored renewable energy solutions will also support the group’s scope 2 emission reduction efforts.

Source: The Star

Gamuda’s investment in ERS Energy to fuel RE drive

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THE Pengerang Municipal Council (MPP) held a mini showcase highlighting its smart city initiative in line with the Johor Smart City Agenda 2030 which shed light on its development plans.

MPP president Fizwan Mohd Rashidi said the showcase aimed at sharing some milestones that it had achieved and future plans to improve the living conditions and socio-economic status of Pengerang folk.

“We want the public to know that they are crucial in every development and policy that is approved.

“The showcase not only caters for what we have planned in Pengerang but also for Kota Tinggi in general, on how we plan and streamline our development so that it is inclusive and sustainable,” he said, adding that the one-day showcase was launched by Kota Tinggi district officer Datin Paduka Hazlina Jalil.

Fizwan shared that MPP had organised a sharing session with the Malaysian Institute of Estate Agents (Johor) on its initiatives.

“Some of the plans discussed include placing smart CCTVs in designated areas, smart traffic lights, digital banners and adopting the econtract system.

“We also shared our smart waste management system, which is in line with the low carbon society agenda,” he said, adding that these developments were important in attracting more investors to the district.

Meanwhile, Hazlina said the showcase also shared the six initiatives to strengthen investment activities introduced by the state government to achieve its target of becoming a developed state by 2030.

“This includes practising smart and green management in our day-to-day work, such as introducing an online payment initiative and placing a mobile counter away from the office.

“Kota Tinggi has the potential to become the gateway for international tourism activities with the opening of the Desaru Ferry Terminal and the ongoing development at the Tanjung Belungkor Ferry Terminal and Tanjung Pengelih Ferry Terminal,” she said.

Hazlina shared that besides tourism, the Kota Tinggi district also focused on developing the oil and gas hub namely the Pengerang Integrated Complex and Pengerang Deepwater Terminal.

“These projects have given life to the district as the main international investment destination, so we need to organise a better strategy to attract more investors to the area so that we can create a more vibrant development,” she added.

Source: The Star

Paving the way for smart city

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KUALA LUMPUR (Dec 6): Malaysia’s electrical and electronics (E&E) sector is expected to contribute RM120 billion to the country’s gross domestic product (GDP) and generate RM495 billion in export earnings by 2025, as Malaysia continues to attract high-quality investments and is expected to uphold its growth trajectory.

Malaysian Investment Development Authority (Mida) deputy chief executive officer of Investment Promotion and Facilitation Sivasuriyamoorthy Sundara Raja said the manufacturing sector attracted RM43.1 billion in investments for the first half of 2022 (1H2022).

“Among the sub-sectors of the Malaysian manufacturing industry, E&E proves its mettle and robustness by continuously attracting the highest number of investments.

“During this period, the industry recorded a total of RM19.49 billion in approved investments and we expect to generate over 13,000 job opportunities, including highly-skilled positions such as managerial, engineers and technicians,” he said during his opening speech at the Malaysia National Electrical and Electronics Forum 2022 here on Tuesday (Dec 6).

Sivasuriyamoorthy said the E&E industry is integral to the manufacturing sector and serves as a vital element to the nation’s economic prosperity.

“The sector is also a veritable cornerstone of the global semiconductor industry, producing 13% of the world’s backend semiconductors in 2021, with exports accounting for 40% of total national output.

Sivasuriyamoorthy said some of the most prestigious and innovative electronics businesses in the world, such as Intel, STMicroelectronics, Infineon and others, have increased their presence in Malaysia.

“MIDA is committed to building a resilient and sustainable electronics supply chain in the Asean region.

“Apart from local industry players, we are expanding the benefits of our manufacturing ecosystem to global businesses and brands,” he said.

Resilent, sustainable supply chains

Up until early this year, the biggest challenge facing the global semiconductor industry was shortages, mainly triggered by soaring demand for electronic consumer products such as PCs and smartphones during the Covid-19 pandemic, Sivasuriyamoorthy said.

He said US-China trade tensions also added difficulties for some global semiconductor players and resulted in global supply chain disruptions.

“To further strengthen the semiconductor supply chain, Malaysia has signed the US-Malaysia Memorandum of Cooperation (MOC) in May 2022 on Semiconductor Supply Chain Resilience, which aims to provide guiding principles for both our nations,” he added.

Sivasuriyamoorthy said Mida is committed to building resilient and sustainable electronics supply chains in the Asean region.

“Apart from local industry players, we are expanding the benefits of our manufacturing ecosystem to global businesses and brands.

“The growing participation and research and development efforts in the different layers of our domestic and foreign investors will also enhance the industry’s value chain,” he added.

He said businesses could capitalise on the E&E sector’s potential growth, which will further boost the nation’s economy with the correct strategies and knowledge.

Source: Bernama

E&E sector to generate RM495 bil in export earnings by 2025, says MIDA

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The Malaysian Investment Development Authority (MIDA) is prepared to support small and medium enterprises (SMEs) in adopting Enterprise Resource Planning (ERP) solutions through the allocation of government grant.

MIDA has signed a Memorandum of Understanding (MoU) with the Collaborative Research in Engineering and Science and Technology Centre (CREST) and Dassault Systèmes Singapore Pte Ltd on ERP adoption today.

MIDA chief executive officer Datuk Wira Arham Abdul Rahman said MIDA is committed to help SMEs through government grants, especially those wishing to take part in Industrial Revolution 4.0.

“This timely initiative aims to elevate our local SMEs and equip them with the latest technology to enhance their business efficiency through adopting world-class ERP solutions.

“We take great pride in MIDA’s involvement in this initiative to empower Malaysian firms and SMEs to fortify their technical capabilities and embrace modern technology, thus enabling them to progress and flourish,” he told a press conference after the signing ceremony here today.

The partnership aims to create a steering committee to discuss the scope, requirements, roles and plans in supporting Malaysia’s SMEs in their transformation journey to Industry 4.0 as well as enhancing cloud-based collaboration through adopting world-class ERP solutions.

The ERP solutions will leverage on Dassault Systèmes’ virtual twin technologies via its 3DEXPERIENCE platform, specifically in its computer-aided design software and Product Lifecycle Management solutions, which are used in various industries including manufacturing, engineering and life sciences.

Meanwhile, CREST CEO Jaffri Ibrahim said the MoU aimed to provide a platform that allows Malaysian businesses to thrive in a competitive business environment post-pandemic.

“We constantly seek opportunities to collaborate with the government, industry leaders and academia to advance scientific knowledge in the country. In turn, we aim to strengthen homegrown innovation and research while we help local businesses navigate their challenges and opportunities in the new normal,” he added.

Source: Bernama

MIDA ready to assist SMEs to adopt ERP Solutions through govt grant

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The Malaysian Investment Development Authority (MIDA) and the United Nations Development Programme (UNDP) of Malaysia, Singapore, and Brunei Darussalam are set to launch the inaugural Malaysian Sustainable Development Goals (SDG) Investor Map in 2023

MIDA said that the map will provide insights and tools needed by the private sector to increase their investments towards the SDGs and fill the financing gap faced by the government with regard to meeting the SDG targets.

“The SDG Investor Map will assist in unveiling untapped opportunities that have the potential to spur rapid development,” said MIDA chairman Tan Sri Sulaiman Mahbob in a statement.

He said that it will also provide the government with a clear direction to focus on new areas that could benefit from policy implementation and provision of resources, such as human capital and capacity-building initiatives.

Meanwhile, the UN under-secretary-general and UNDP associate administrator Usha Rao-Monari said that now is the time for private businesses and investors to place their bets on climate-sensitive investments and not just hedge their climate risks.

“(They are able) to make real business value from green products and services, (as well as from) climate mitigation and adaptation solutions.

“By venturing into new products and services that contribute to climate solutions, businesses can gain good market returns and be a leader in their respective industries,” she said.

Accordingly, MIDA noted that as reported by the Global Commission on Adaptation in 2019, a US$1.8 trillion (US$=RM4.40) investment in climate change adaptation measures is expected to bring a return of US$7.1 trillion in avoided costs and other benefits

Both Sulaiman and Usha were giving their remarks at the ‘Private Sector Dialogue on the SDG Investor Map,’ themed “Sustainability Does Matter: Investing for a Better Future”, coorganised by UNDP and MIDA here today.

The dialogue aimed at engaging with industry players in identifying new investment opportunities with potential contributions to SDGs, while generating attractive market returns.

Source: Bernama

MIDA, UNDP set to launch Malaysian SDG Investor Map in 2023

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TO some, wastewater is seen as something to be disposed of, but with climate change and the many challenges we face today, this could potentially be a valuable resource for recovery.

For Indah Water Konsortium (IWK) Sdn Bhd, the term “wastewater” does not have to be discarded as waste, but instead be given new life after it is treated.

In its Sustainability Report 2021 entitled Embracing Change, its chief executive officer Narendran Maniam said IWK is a purpose-driven company with a core focus on ensuring our treated water is clean, safe and sustainable to the environment.

“We want to make sure the integrity of the water ecosystem of Malaysia’s wastewater industry is kept intact through a proper and well-maintained sewerage system. We are committed to taking a leadership role in addressing our sustainability approach through adherence to environmental, social and governance disciplines,” said Narendran in the report.

As such, Narendran added, IWK has embarked on wastewater treatment and reuse, leveraging green technology and giving meaning to its tagline “New Life for Water”.

IWK is able to produce 5,092MLD-treated bio-effluent (treated wastewater). That is equivalent to a whopping 2,000 Olympic-sized swimming pools, before they are released in a safe form into bodies of water.

Apart from treating wastewater to safely return it to the environment, IWK can convert it for other uses with the help of green technology. One of them is through imposing further treatment to turn the bio-effluent into non-potable water for the next use such as irrigation, industrial use and agriculture in a way that does not harm the plant and soil.

There is so much potential for the reclamation of bio-effluent. The treated bio-effluent can supplement the usage of water by industries and commercial businesses daily, which is a fundamental product for nearly every step of the manufacturing and production practices around the world, whether it is used for producing, processing, washing, diluting and cooling among others.

By using reused treated wastewater, it could contribute to efforts in preserving the nation’s clean water resources, which eventually could ease the pressure on water sources and promote circular economy practices.

IWK embarked on a water reclamation initiative whereby wastewater treated from IWK’s sewage treatment plant will go through additional processing in order to be repurposed for non-potable uses by industrial sectors.

Forming a partnership with water operator Pengurusan Air Selangor (Air Selangor) Sdn Bhd, the companies will jointly manage wastewater discharged from IWK sewerage treatment plants though a special-purpose vehicle company, Central Water Reclamation Sdn Bhd (which is co-owned by Air Selangor and IWK).

Through this cooperation, the bio-effluent treated by IWK will be supplied to Central Water’s facilities to produce non-potable treated water.

In the report, Narendran also said: “To date, I am pleased to report that our Setia Alam region STP has commenced non-potable water operations since May 2021, capable of yielding 4MLD on non-potable water for industrial use since it started operations. Apart from this, via our partners, we also have started discussions with potential customers in reclaimed water business in Shah Alam and Melaka with the aim of rolling out the non-potable initiatives there soon.”

As early as 2015, IWK has taken steps to start small-scale projects with the local authorities to reuse treated effluent to water landscape crops. This showcases IWK’s longstanding commitment to sustainability and efforts in protecting the environment and its clean water sources.

In addition to this, IWK is also embarking on treating trade effluent discharged from Food and Beverage (F&B) industries.

With the adoption of biological processes and designed with some flexibility, some of the STPs operated by IWK have the potential to accept and treat additional loadings from industrial wastewater that are compatible with domestic sewage characteristics.

This would mean that the food and beverage (F&B) industry and industries that are producing biodegradable waste can optimise investment costs of operating industrial wastewater treatment plants and leave it to specialists to treat its trade effluent.

By loading trade effluent into the STPs operated by IWK for treatment, this would also bring immense benefit to the environment. It will reduce the pollution’s point of source, ensuring waste discharged is treated properly and effectively before it is released back into water sources.

IWK seeks to maximise water reuse options to ensure that Malaysia’s clean water sources are not stressed by industrial consumption, and as such looks at alternative solutions such as the reuse of its treated effluent.

Sustainability is at the heart of IWK’s operation and the company continues to find new ways to manage its processes and downstream by-products sustainably. These are just some examples of IWK’s waste-to-wealth initiatives to reduce wastage of resources and turn them into renewed outcomes.

Source: The Star

Turning wastewater into a valuable resource

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Mattel Malaysia Sdn Bhd (MMSB) is expected to increase its manufacturing capacity to produce half a billion Hot Wheels toy cars annually by 2025.

Mattel Operations Asia senior vice-president in global manufacturing Soo Teck Heng said its Malaysian unit which began operations in Perai, Penang in 1981 now produces nine million toy cars a week.

“This translates to 1,000 toy cars every minute,” he said at the 40th anniversary celebration of the toy manufacturer here today.

He said Mattel Malaysia is currently expanding its plant with two buildings under construction adjacent to the current facility.

“The expansion will bring our production up by 20 per cent by 2025,” he said.

He added that the expansion will add 400 new jobs across Mattel’s operations in Penang.

“This expansion will work towards strengthening MMSB and Mattel Development and Tooling Sdn Bhd’s role as a global hub for die-cast production and is part of a larger investment in our Malaysian operations,” Soo said.

He said Mattel Malaysia currently makes about 440 million toy cars a year and foresees production to increase by about 20 per cent through the expansion plan, enabling it to manufacture half a billion Hot Wheels annually.

The plant is currently at maximum output capacity and all of the products made here are exported worldwide, he said.

“Mattel Malaysia is the world’s only manufacturer of Hot Wheels singles – the world’s top-selling toy in 2021 according to The NPD Group,” he said.

Mattel Incorporated president and chief commercial officer Steve Totzke announced a licence partnership with Proton to develop a Hot Wheels car modelled after the original Proton Saga.

He said the model will now become a part of Hot Wheels’ singles collection.

“The licence partnership between Mattel and Proton is significant for Malaysians as they witness Malaysia’s first car transformed into a 1:64 scale model to ignite the passion of car enthusiasts both in Malaysia and worldwide,” Totzke said.

Soo said the Proton Saga Hot Wheels will be available in the market soon, but did not commit to a date.

Source: Malay Mail

Mattel Malaysia to roll out half a billion Hot Wheels annually from 2025

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Mattel Malaysia Sdn. Bhd. (MMSB) commemorated its 40th anniversary in Malaysia today with the announcement of a plant expansion, expected to be completed in January 2023. Located in Penang, Malaysia, MMSB is the world’s largest Hot Wheels manufacturing plant, with a current average output capacity of approximately 9.0M cars per week. According to Mattel, it expects this targeted, strategic investment to increase manufacturing capacity, improve productivity, and leverage technological capabilities, while reducing cost and enhancing operational efficiencies. The plant expansion will support Hot Wheels growth, and MMSB expects a 20% increase in production capacity by 2025.

Established in 1981 in Perai, Penang, MMSB was Mattel Inc.’s (NASDAQ: MAT) first manufacturing plant in Malaysia. Malaysia plays an important role in Mattel’s supply chain for the company’s manufacturing, tooling, and commercial operations. According to Mattel, MMSB currently employs almost 3,900 workers and has consistently invested in and upskilled its workers, while hiring talent with technical backgrounds. The plant expansion is estimated to increase the total workforce by approximately 10% to nearly 4,300 employees at MMSB. This expansion will also benefit Mattel Development and Tooling Sdn. Bhd. (MDT). MDT, established in 1985, is Mattel’s second manufacturing plant in Malaysia and a state-of-the-art facility for product development, digital model making, mould design, and manufacturing.

Chief Minister of Penang, YAB Tuan Chow Kon Yeow (pix), stated, “We are proud that Mattel continues to invest in Penang as a key destination within its global supply chain. This is a strong indication of the state’s efforts and commitment to developing a welcoming environment for industry players and positioning the state at the forefront of industrialisation.” He added: “Throughout the years, Mattel has also succeeded in developing a thriving ecosystem for the toy industry in the Perai Free Trade Zone, across industries. It is heartening to see the positive spillover effects that Mattel has brought to the homegrown companies.”

Datuk Wira Arham Abdul Rahman, Chief Executive Officer (CEO) of the Malaysian Investment Development Authority (MIDA), stated: “I want to extend my heartiest congratulations to Mattel Malaysia on their latest corporate milestone. Malaysia has a vibrant ecosystem that supports companies in their innovation journey. We look forward to Mattel Malaysia’s continued growth and contributions to the nation’s economy.”

He added, “Malaysia aims to distinguish itself as the country of choice for manufacturing location in Southeast Asia based on a variety of intangible factors, including our established pro-investment policies, reliable supply chain and industrial ecosystem, and conducive business environment. Our highly skilled workforce also provides a pipeline of talent to support the front, middle and backend operations.”

Ching Chiau Lee, General Manager, MMSB, stated, “Today, we celebrate and reaffirm our long-term presence in Malaysia. Over the last 40 years, we have succeeded in developing a thriving ecosystem for the local industry in the Perai Free Industrial Zone across industries such as packaging, paint, material supplies, and machine design.”

Ms. Ching continued, “MMSB plays an important role in our global supply chain operations, providing a strategic footprint in the region and supporting our transformation strategy for growth as an IP-driven, high-performing toy company. We are excited for our future as we continue to exemplify progress in the technology-driven Malaysian manufacturing sector.”

In conjunction with Mattel’s continued investment and commitment to its Malaysian operations, Steve Totzke, President and Chief Commercial Officer of Mattel, announced that Hot Wheels will be collaborating with PROTON, Malaysia’s iconic national automotive brand, to produce a 1:64 scale model of a Proton SAGA, the first model manufactured by PROTON.

Source: Bernama

Mattel Malaysia celebrates its 40th Anniversary and announces plant expansion to be completed in January 2023

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National automaker Proton Holdings Bhd said the company is on track to have its best sales year since 2013, with January to November sales reaching 126,682 units.

In a statement, Proton said the year-to-date (YTD) sales have eclipsed its full-year sales in 2021 by 10.4%, with YTD export sales climbing 66.6% to 5,028 units from 3,018.

This comes on the back of 11,316 units delivered in November, despite the company having to grapple with temporary supply issues that led to a month-on-month decrease of 13.1% from October 2022.

“November was an eventful sales month for Proton, as we experienced some temporary supply issues that prevented us from achieving our full potential. We are confident of being able to rectify them in December, and remain positive about closing out the year strongly,” said Proton deputy chief executive officer Roslan Abdullah.

According to Roslan, Proton will end 2022 with a fourth consecutive year of sales growth, and that the increase in sales in the year has also increased the volume of parts purchased from local vendors, increased its number of dealers, and created jobs for the automotive ecosystem.

“With the new model introductions in the pipeline for 2023, we hope to be able to increase our contribution to the Malaysian economy by making more local investments, selling more vehicles, and further growing our export market,” he added

On the specific performance of the automaker’s car models, Proton said five already exceeded their total volume in 2021, adding that two models in particular — Proton X50 and Exora — have been leading their respective segments throughout 2022.

“Market share for the month (November) is estimated to be 17.7%, and for the year (2022), Proton retains its hold on the second position in the sales table, with 19.7% of total vehicle sales,” the company said.

The company expects total industry volume in 2022 to set a record and approach 700,000 units, as Malaysia’s automotive market enjoyed a fourth consecutive month of more than 60,000 units in sales.

At the noon break on Tuesday (Dec 6), Proton’s parent company DRBHicom Bhd was trading two sen or 1.28% lower at RM1.54 a share, giving the group a market capitalisation of RM2.98 billion.

Source: The Edge Markets

Proton on track to achieve best sales since 2013 after selling 126,682 units in Jan-Nov

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Anak syarikat milik penuh Malaysia Airports Holdings Bhd (MAHB), KLIA Aeropolis Sdn Bhd (KASB) diberikan hak pembangunan bagi merancang, mereka bentuk, membangun dan membina KLIA Aeropolis Land di kawasan tanah seluas 3,454.93 hektar.

Pengendali lapangan terbang itu dalam makluman kepada Bursa Malaysia berkata, hak itu diberikan bagi tempoh 99 tahun bermula daripada 17 November 2022, tertakluk kepada terma dan syarat Perjanjian Pembangunan.

“Syarikat mempunyai perjanjian susulan dengan kerajaan bagi pembangunan dan operasi Lapangan Terbang Antarabangsa Kuala Lumpur (KLIA) bagi perjanjian operasi antara kerajaan, MAHB dan Malaysia Airports (Sepang) Sdn Bhd (MA Sepang) bertarikh 12 Februari 2009, bagi tempoh 25 tahun sehingga 11 Februari 2034.

“Perjanjian lain adalah Perjanjian Pajakan antara Pesuruhjaya Tanah Persekutuan dan MA Sepang bertarikh 12 Februari 2009 bagi tempoh 25 tahun sehingg 11 Februari 2034,” katanya.

MAHB berkata, keputusan itu adalah sejajar dengan objektif nasional untuk memangkinkan pembangunan ekonomi menerusi KLIA, selari dengan lapangan terbang lain di negara-negara maju.

“Berdasarkan libat urus dengan pelbagai pelabur dan perniagaan berpotensi, syarikat mengakui akan cabaran yang dihadapi oleh pelabur dan perniagaan ini untuk mendapatkan pulangan pelaburan yang memuaskan berikutan tempoh berbaki pajakan tanah yang pendek.

“Sehubungan itu, syarikat mengadakan libat urus dengan kerajaan untuk menyusun terma yang lebih baik bagi meningkatkan pelaburan domestik dan juga pelaburan langsung asing,” katanya.

Sumber: Bernama

Unit MAHB dapat hak bangunkan KLIA Aeropolis Land

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The Negeri Sembilan government has launched the Negeri Sembilan Development Plan 2021-2025 (RPNS 2021-2025) and the Negeri Sembilan Digital Economy Plan 2027 (PEDNS 2027) documents which outline economic development policy in the state.

Menteri Besar Datuk Seri Aminuddin Harun said the 2021-2025 RPNS framework is comprehensive in addition to contributing to local economic progress that utilises local resources, reducing the gap in the quality of life of urban and rural residents and empowering infrastructure.

“It also provides a policy intervention direction that goes beyond 2025 with some policy interventions being of a long-term nature such as the development and operation of catalytic economic activities in the Malaysia Vision Valley 2.0 (MVV 2.0) region.

“Taking into account the expectation that the national economy will reach pre-pandemic levels in 2023, this situation is expected to also affect the magnitude of the state’s economic movement,” he said at the launch of the documents here today.

Aminuddin said PEDNS 2027, which aims to accelerate the development of the digital economy throughout the state until 2027, also aims to ensure the implementation of the Malaysian Digital Economy Blueprint (RTEDM) at the national level in line with the state level.

It opens up space and opportunities for all levels of society in this state, he said, adding that the plan would be a reference to set the state’s achievement targets for the next five years through the setting of priority areas in line with the direction of the Negeri Sembilan government administration.

“The main content of PEDNS 2027 is divided into four components which are the digital economy ecosystem in Negeri Sembilan, vision and direction and governance structure, effectiveness studies and future planning,” he said.

Aminuddin explained that the development of the digital economy in the state can be implemented through three approaches, namely a government driven by digitisation, industries centred on digitisation, and the people of the state with good digital literacy.

“People need to be given the opportunity to improve the level of digital skills to ensure that digital inclusivity occurs systematically and parallel with the development of the digital economy that will change the entire global economic landscape,” he said.

Aminuddin also said through the RPNS 2021-2025, the state government has set targets including gross domestic product (GDP) growth of 4.5 per cent compared to 2.6 per cent in 2016-2019, as well as per capita GDP of RM46,534 compared to RM41,079 (2016-2019).

“The state government also aims to transform government services into 100 per cent digital services, increase the per capita income of the state’s citizens to more than RM50,000 in addition to recording more than 6.0 per cent of the country’s GDP in the field of digital services,” he said.

RPNS 2021-2025 contains 13 chapters with three themes, namely economic sustainability, the well-being and prosperity of the people, and environmental sustainability.

The plan is supported by policy catalysts which will focus on developing infrastructure and information technology facilities.

Source: Bernama

N. Sembilan govt launches economic development policy documents

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The signing of the agreement between Petronas and Abu Dhabi National Oil Company (Adnoc) is a reflection of Malaysia’s international relations and strategic cooperation with various countries, said Prime Minister Datuk Seri Anwar Ibrahim.

Petronas Abu Dhabi Sdn Bhd, a wholly-owned subsidiary of Petronas, has signed a historic agreement with Adnoc to explore and evaluate Unconventional Onshore Block 1, covering a concession area of 2,000
square kilometres in the Al Dhafra region.

“I pay tribute to the role of the Yang di-Pertuan Agong, Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah, who is the main driving force behind the success of this effort.

“The signing of this cooperation is a reflection for us to build more precise international relations and forge strategic cooperation with various countries when the world is in recovery after Covid-19 and the uncertainty of the global economy,” he said in a post on Facebook on Tuesday (Dec 6).

Anwar, who is also the finance minister, said he welcomes the historic agreement and has full confidence that local companies and talents would be able to take the lead and explore ideas and opportunities to compete at the global level.

Petronas will hold a 100% equity and control to explore and evaluate unconventional oil in the concession area for a period of up to six years.

After a successful evaluation phase, partners can enter a production concession, in which Adnoc has the option to hold a 50% stake.

Source : Bernama

Petronas-Adnoc agreement reflects Malaysia’s international relations with various countries, says PM

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The Northern Corridor Implementation Authority (NCIA) will continue to work with the Ministry of International Trade and Industry (MITI) to bring high-impact domestic and foreign investments to the Northern Corridor Economic Region (NCER) to strengthen and sustain Malaysia’s economic growth momentum.

In a statement today, NCIA said that it is looking forward to more collaborations with MITI, the Malaysian Investment Development Authority (MIDA), as well as the state governments of Perlis, Kedah, Penang, and Perak going into 2023 and beyond.

“The region is ready to invest in new technologies and innovation to remain competitive and relevant for the current and future economic landscape,” it said.

NCIA chief executive Mohamad Haris Kader Sultan said the authority will continue to strengthen investor confidence in NCER beyond electrical and electronics, mechanical and electrical, as well as medical devices sectors in the development of industry-relevant, high-value, high-tech and high-skilled local talent.

He said NCER is also facilitating and enhancing industry players to become more export-oriented by providing them with incentives to lower the cost of business, be more competitive globally, have access to various markets, and be in the area of compliance.

“However, we must also be wary of the economic headwinds that are predicted to affect the global economy next year.

“NCER is mindful of the daunting task of reining in inflationary pressures, the high cost incurred in the technology cold war between the United States and China, as well as the ongoing war between Russia and Ukraine that disrupts global supply chain,” he said.

Despite these challenges, he noted that it is also an opportunity for industry players in NCER to strengthen their operations and enhance talent via new investments, especially in the semiconductor industry.

Source: Bernama

NCIA, MITI to continue collaboration, bring high-impact investments to NCER

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THE Malaysia National E&E Forum returns for its 2022 edition tomorrow, Dec 6.

It will be held in a hybrid format – physically at MIDA Sentral in Kuala Lumpur and virtually over Zoom – from 8.30am to 1pm (GMT+8).

The theme for this year is ‘Powering Semiconductor Growth During These Challenging Times’ and will feature an esteemed line-up of panelists.

They will touch on the success of the electrical and electronics (E&E) industry in Malaysia, whose exports for the first nine months of the year (Jan to Sept 2022) was up 35% from a year ago. Meanwhile, investments in 2021 were a record RM148bil.

However, the industry is facing headwinds – with slowing global demand, rising costs and geo-political developments with the CHIPS Act and the Russia-Ukraine conflict posing challenges.

Indeed, sustainability from economic, environmental and social standpoints is something that not only affects the E&E sector, but also the world as a whole.

So how do people integrate sustainability in business and innovations? How does one address areas of concern such as climate change, developing green practices and reducing carbon emissions in the E&E industry? Join the forum to find out.

The keynote speaker for this year is STMicroelectronics Asia-Pacific executive vice-president for Asia public affairs and Singapore managing director Bertrand Stoltz.

Panelists who will speak on the CHIPS Act and US Restrictions are Semiconductor Industry Association vice president for global policy Jimmy Goodrich, managing director and head of Taiwan research Credit Suisse and Asia semiconductors Randy Abraham, as well as Deloitte Consulting (SEA) Sdn Bhd executive director for consulting Jan Thomas Nicholas.

For the segment on ‘sustainability’ in the E&E industry, panelists include Western Digital senior vice president for global flash backend operations K.L. Bock, Ernst and Young climate change and sustainability services partner Arina Kok, SEMI sustainability programmes vice president Dr Mousumi Bhat and Dell Technologies Delivery Centre of Excellence, global sales learning and development senior advisor K.B. Chan.

MIDA deputy chief executive officer S. Sivasuriyamoorthy will present the opening speech. The event is free for both in-person and virtual attendees. However, in-person seats are limited and available on a first-come-first-served basis.

All professionals in the semiconductor industry as well as members of the public are welcome to join.

Source: The Star

National E&E Forum 2022: Integrating sustainability in business and innovations

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Sabah is hoping that the Malaysia-India bilateral trade relationship will provide a positive impact to the state economy.

State Chief Minister Datuk Seri Hajiji Noor said the existing ties between both countries have been forged for a long time, with India being one of the main trade partners of Malaysia.

The trade relationship comprised many sectors in Malaysia, including the Information and Communications Technology, biotechnology, manufacturing and financing services.

“As the chief minister, I also welcome investors and foreign visitors from other countries, including India, to help spur the economy and tourism sectors in the state.

“The Sabah government will ease the business activities as part of the measures to encourage more investors in the state.

“This is in line with the Sabah government’s commitment in practising an investment-friendly policy,” he said during the Sabah Indian Association’s 75th anniversary at the Sabah International Convention Centre here last night.

Hajiji’s speech was read by his Assistant Minister Datuk Seri Abidin Madingkir.

Present were Indian High Commissioner to Malaysia B.N. Reddy, Sabah Indian Association president Datuk Dr P. Muthusamy and organising chairman Datuk Dr G. Mohan.

Earlier, he said the Indian community in Sabah had come to the state as army, police, and government servants during colonial rule and later became doctors, teachers, engineers and businessmen after the formation of Malaysia in 1963.

“It is undeniable that the Indian community has contributed towards early development in Sabah especially in engineering, health and education.

“The Sabah government will always appreciate the sacrifices and contributions by the community to the state for the past few decades.

“For 2023, the state government has allocated more than RM54 million for mission and Chinese schools, as well as other non-Muslim religious institutions in the state.”

Source: NST

Sabah CM hopes Malaysia-India trade ties will also benefit the state

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