Perusahaan Otomobil Kedua Sdn Bhd (Perodua) will be ramping up its production capacity to “new highs” to fulfil outstanding orders.

President and chief executive officer Datuk Seri Zainal Abidin Ahmad, in a statement, said the third quarter of 2023 (3Q23) marked the start of efforts to increase monthly production beyond 30,000 units, as the supply of raw materials and parts can now meet the demand.

“This production surge underscores the potential of the Malaysian automotive ecosystem as it continues to enhance economies of scale without compromising quality and cost efficiency,” he said.

With these improvements, Zainal anticipates that Perodua’s production and sales outlook for 4Q23 will reach historic highs.

“We are steadfast in reducing our customers’ waiting period. We believe that the waiting period from January 2024 onwards will be better managed,” Zainal stated.

Year-to-date September 2023, Perodua has produced 245,341 units, marking a 18.6% increase from the 206,837 units in the same period last year.

Separately, Perodua vice-president Datuk Ahmad Suhaimi Hashim highlighted the company’s efforts to enhance productivity.

He said this year, the automaker successfully increased the speed of the assembly lines at Perodua Global Manufacturing Sdn Bhd, achieving a tact time of 1.1 minutes and thereby significantly boosting overall productivity.

Ahmad Suhaimi attributed the extended waiting period for Perodua’s top-selling cars to a shortage in semiconductor components.

He said that it’s not only Perodua facing challenges, but other original equipment manufacturers are also grappling with semiconductor supply issues.

“At the beginning of the year, the situation was more challenging. However, we managed to negotiate with the supplier, and to a certain extent, they agreed to increase the supply,” he told reporters during a media briefing at the Japan Mobility Show 2023.

Perodua’s year-to-date registrations totalled 233,227 units in the first nine months of this year, compared to 196,354 units sold in the same period last year.

Among the 233,227 units registered, the top-selling Perodua model over the nine-month period is the Perodua Bezza, followed by the Perodua Axia and the Perodua Myvi.

Perodua commands a noteworthy market share, representing over 40% of the cars on the roads in Malaysia.

In 2022, Perodua achieved a remarkable milestone by selling approximately 282,000 cars, maintaining a significant lead in the Malaysian automotive market.

This places them well ahead of Proton, the other prominent Malaysian local brand, which secured the second position with total sales exceeding 136,000 units last year.

Meanwhile, for 3Q23, Perodua saw a 28.3% jump in sales to 88,537 units compared with 69,011 units in the previous corresponding quarter as production factors kicked into high gear.

Perodua attributed its sales surge to improved production efficiency, with 91,528 units made, a 21.7% increase compared to 75,196 units in the same quarter of 2022.

For a month-on-month comparison, Perodua registered 28,995 units in September 2023, marking a 17.7% increase from 24,626 units in September 2022.

In terms of production, Perodua manufactured 31,447 cars in September 2023, representing a 8.2% increase from the 29,077 units produced in September 2022.

The Japan Mobility Show 2023, the first of its kind, featured environmentally friendly vehicles, underscoring the country’s commitment to carbon neutrality and potentially inspiring a spillover effect in Malaysia’s pursuit of sustainability.

Source: The Star

Perodua to ramp up production capacity

Glove maker Careplus Group Bhd yesterday announced that its joint venture company with Go Auto Group Sdn Bhd, Nexv Manufacturing Sdn Bhd (NMSB), has secured a manufacturing license for energy efficient vehicles (EEV).

The license from the Ministry of Investment, Trade and Industry (MITI) is for the manufacture and assembly of EEV passenger and commercial vehicles and electric motorcycles.

GoAuto is partly owned by Naza Group founder the late Tan Sri SM Nasimuddin Kamal’s son, Datuk Sheikh Mohamad Azli Sheikh Mohamad Nasimuddin Kamal.

In a filing with Bursa Malaysia Securities Bhd, Careplus said MITI had on October 24, 2023, granted a manufacturing license under the Industrial Co-ordination Act 1975 to NMSB.

Careplus plans to set up a new energy vehicle (NEV) manufacturing hub on 73.34 acre land in Chembong.

On October 25, 2023 it obtained shareholders approval to proceed with its plans to diversify into the EV business.

Careplus expects to submit the building plans for its manufacturing hub by the end of 2023, and start construction of the assembly line building (Phase 1) in the first quarter of 2024 with Phase 2 being the construction of the administrative block, body and paint production building in the third quarter of 2024.

The manufacturing license secured by NMSB is subject to, amongst others, the condition that the manufacturing and assembly activities comply with requirements by the Department of Environment.

Careplus’s share price unchanged at 26.5 sen a share yesterday.

Source: NST

Careplus’ JV secures energy efficient vehicle manufacturing license

The Automotive High-Tech Valley (AHTV) in Tanjung Malim is a major initiative expected to revitalise the Malaysian automotive industry, says Perak Menteri Besar Datuk Seri Saarani Mohamad.

Saarani said that the recent investment promotion mission to Shanghai, Hangzhou, Nanning and Guangzhou in China from Oct 15-21, 2023, successfully attracted potential investments into the state.

The project is expected to attract RM32 billion in investments over the next 10 years, creating thousands of job opportunities and position Malaysia to become a regional leader in the production of next generation vehicles. 

The establishment of a new High-tech Industrial Hub in Kerian, announced by the Prime Minister Datuk Seri Anwar Ibrahim in the recent Belanjawan 2024, is foreseen to greatly support high technology and capital incentive projects which will directly nurture Perak and further spur the conducive business environment for  investors, targeting especially the niche sectors, said Saarani at the Malaysian Investment Development Authority (MIDA) held  “MIDA Invest Series – Perak: Unfolding Its Business Potentials” at Perdana Hall, MIDA Sentral in Kuala Lumpur.

“The state government is committed to encouraging investments into the state, as it is willing and able to consider reasonable incentives or remove obstacles to facilitate investors,” he said.

MIDA’s programme’s objective is to promote high-impact projects in the state of Perak to potential investors, and has attracted the interest of over 250 participants. 

This programme is in collaboration with the Perak state government and is a significant initiative in the government’s efforts to highlight attractive investment opportunities in Perak.

“It stands as a pivotal initiative for the government’s ongoing efforts to spotlight compelling investment opportunities within Perak,” he added.

MIDA chief executive officer Datuk Wira Arham Abdul Rahman said Perak is a region brimming with potential, boasting manufacturing,  agriculture, and tourism sectors. 

“Hubs like the Automotive High-Tech Valley (AHTV) and  Lumut Maritime Industrial City (LuMIC) are driving investments and job creation, reflecting our commitment to progress,” he added. 

He said that in the first half of 2023, Malaysia achieved a remarkable RM132.6 billion in approved investments across the manufacturing, services and primary sectors. 

As of June 30, 2023 Perak has garnered over RM22.3 billion in realised investments from 283 manufacturing projects, creating more than 22,000 jobs. 

“For instance, esteemed companies such as Toyo Tire Malaysia, Coherent Malaysia, Murata Electronics, and Hume Cement are among many who have made their mark in Perak,” Arham added. 

At the MIDA Invest Series, which highlighted 4 new industrial park in Perak, Malaysian Resources Corp Bhd (MRCB) showcased their Ipoh Raya Integrated Park: A New Generation Integrated Park, which MRCB Land envisioned as a one-stop integrated development which is set to cater to multinational corporations seeking strategically located, sustainable and build-to-suit developments through customisation, creation of conducive working-living environments, innovative solutions and sustainable design. 

Perbadanan Pembangunan Kemajuan Negeri Perak (PKNP), which is spearheading Silver Valley Technology, aims to create a holistic ecosystem for infrastructure, digital connectivity, telecommunications, green solutions, housing, and industrial property developments, as well as port logistics. 

The Perak State Agricultural Development Corporation (Perak SADC) is inviting investors to tap into the Perak Halal Industrial Park (HiP) project with an estimated gross development value of RM1 billion for the next five years.

Strategically located near the West Coast Expressway (WCE) and major ports such as Port Klang, Lumut Port, and Penang Port, Perak Halal Industrial Park offers invaluable logistics advantages.

Perak SADC group chief executive officer Yahanis Yahya said the project will generate over 300–500 job opportunities for residents and opportunities for Bumiputera contractors. 

“We are looking for industry players and entrepreneurs involved in the meats and foods industry, heat and foods processing players, logistic players, agrotech players, food and beverages entrepreneurs, retail entrepreneurs, researchers, knowledge workers, ecosystem suppliers and others to tap into these opportunities.

Yahanis said the primary goal of Perak HiP development is to increase halal meat production in Malaysia, strengthen a sustainable and integrity-based supply chain, and expand the global market reach of Perak’s halal products. 

“With this integrated approach, Perak can meet the growing demand domestically and internationally,” he said at the Malaysian Investment Development Authority’s (MIDA) Invest Series – Perak: Unfolding Its Business Potentials.

The development of Perak HIP will involve an area of 43.127 ha, which will not only become a new economic hub for the state of Perak but also a platform for halal entrepreneurs and business owners to bring their products to the global market.

Yahanis said the first phase of the Perak HiP infrastructure development is expected to be completed in 2024 at a cost of RM100 million. HiP is scheduled to be fully operational by 2025.

“We are also expected to increase the self-sufficiency level of meats, which currently stands at 14.7 per cent,” he added.

Source: NST

4 new industrial parks set to boost Perak economy

Selangor plays an essential role in the nation’s reindustrialisation as it is already prepared for the second economic take-off for the industries, in line with the Federal government’s recent launch of the New Industrial Master Plan 2030 (NIMP 2030).

Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said this was also due to the opportunity to reform and transform Malaysian industries’ foundation.

“We want to make Selangor the (centre) of Malaysia because it already has the base and is more advanced,” he said during the 2024 Selangor Budget town hall session between the state government and the ministry in Kuala Lumpur today.

Also present were Menteri Besar Dato’ Seri Amirudin Shari, several state executive councillors, and representatives of state government agencies.

Apart from the manufacturing sector, Selangor is set to lead in various sectors, including artificial intelligence (AI), the halal industry, and green technology.

“Manufacturing is important to our country, with Selangor and Penang playing a major role, contributing 24 per cent to our Gross Domestic Product (GDP) and growing at a rate of six per cent (last year).

“Selangor is one of the major manufacturing exporters, and out of the 80 per cent, half of it is E&E (the electrical and electronic products industry), so it is one of the sectors with a lot of potential in the state as it can connect back to aerospace and many more since it is very broad.

“Selangor can also focus on AI as it cuts across all sectors, and when we do a study, Selangor has the talent and capacity to become a centre for Malaysia. Among others are EV (electric vehicle), aerospace, and CCU (carbon capture and utilisation),” Zafrul said.

He added that Selangor is reaching greater heights in Asean and has the potential to “be the heart of the region”, recording a significant GDP among other Asean countries.

“Selangor plays a role for Asean. If we calculate the GDP for Selangor in Asean, it is bigger than (some) countries in Asean itself.

“It is a logistics hub, with another big port coming in Pulau Carey. You can be the heart of Asean, so do not only look within Malaysia but look at Asean moving forward,” Zafrul said.

Citing data from the United Nations Conference on Trade and Development on global foreign direct investment (FDI) last year, the minister said while the figure dropped by 12 per cent, flows to Asean countries increased by five per cent.

According to the UNCTD data, flows to Malaysia grew by 39 per cent in 2022, a new record for the country.

“We have an opportunity this year and the next to focus… the window is not long. So, we will work closely with the state. While we have the opportunity for the realignment of supply chain as many have shifted to Asia and Southeast Asia, let us capture this, we do not know how long the window will be open,” he said.

Meanwhile, Zafrul is also cautious about China’s slow economic recovery, which would impact the country and the state’s economic growth.

Due to global trade slowing down, Malaysia’s challenges are reflected in the trade figures.

“When doing a simulation for Selangor, we need to take into account China’s slowdown, which will impact not just Malaysia but Selangor, as one of the key drivers of growth for the country (and) will be affected (as well).

“China has been our largest trading partner for 14 years consecutively, so we would be affected,” he said.

Source: Selangor Journal

Selangor plays key role in Malaysia’s reindustrialisation — Tengku Zafrul

The recovery of Malaysia’s exports will be championed by semiconductor and other electrical and electronics (E&E) products in the fourth quarter of this year, said MIDF Research.

This would be aided by no further tightening of monetary policy in major economies and better progress in China’s economic recovery as stimulus measures start to kick in, the research house said.

It said that although overall E&E exports fell marginally by 0.6 per cent year-on-year in the first nine months of 2023, more than 70 per cent of exports of E&E products continued expanding steadily so far this year.

“Apart from semiconductors, we noticed electrical switcher relays and circuits, electrical power machinery and electro-medical equipment increased by 3.1 per cent, 25.8 per cent and 7.8 per cent year-on-year, respectively, in nine months,” MIDF Research said in a note today.

By market structure, Malaysia’s E&E is shifting towards the semiconductor industry given that the ratio to E&E exports rose to the latest 67.7 per cent from 59.5 per cent in 2019.

The research firm also expects the ratio to reach a higher point in later years as guided by the New Industrial Master Plan 2030 strategies.

“Via the NIMP 2030’s mission-based champions, Malaysia is set to explore more high-end segments of the semiconductor supply chain, namely integrated circuit design and wafer fabrication.

“We foresee sanguine 2024 outlook for semiconductor and E&E amid NIMP 2030 strategies, better China’s economic recovery and improved global demand,” it added.

Source: Bernama

Semiconductor, E&E products to spur exports recovery in Q4 2023 — MIDF

Technology is the lifeblood of the electrical and electronics (E&E) industry, influencing every aspect of product design, production and functionality. Innovative technology pushes the boundaries of what is possible, from the miniaturisation of components to the integration of smart features.

In the semiconductor and E&E industry, staying at the forefront of technological advancements is imperative for companies to remain competitive.

Mimos Bhd president and CEO Dr Iskandar Samad points to four domains in this industry that are seeing a surge of tech innovations: chip design, advanced packaging technology, automated test equipment and wide bandgap semiconductors.

Iskandar and Jaffri Ibrahim, CEO of Collaborative Research in Engineering, Science and Technology (Crest), note areas where Malaysia is developing cutting-edge capabilities on the back of industry and government collaboration and extensive research and development (R&D).

Chip design

Semiconductor chips hold the data needed to use our computers, smartphones, appliances, cameras and cars. Three-nanometre (nm) chips are currently the most advanced, but 2nm nodes are making headlines. Nodes, or process nodes, refer to a semiconductor manufacturing process.

TIME magazine’s Best Inventions of 2022 (a list of groundbreaking inventions) highlights IBM’s 2nm chip. This technology puts 50 billion transistors, each the size of roughly five atoms, on a space no bigger than a fingernail.

IBM’s new chip, essentially a circuit of connected transistors, is much smaller than the eye can detect. Over the years, transistors have shrunk from an initial 10,000nm in 1971 to 5nm in 2020. The Apple MacBook currently has about 16 billion transistors within its total weight of just 3lbs.

“The 2nm chip technology will develop the world’s smallest and most powerful microchip,” observes Iskandar.

IBM forecasts that the use of this chip will generate an average increase of 45% in product performance. This could allow mobile phones to be charged once every four days rather than daily and autonomous cars to make smarter and quicker decisions. Furthermore, electronics that use this technology should be cheaper because smaller transistors should be less expensive to produce and use up to 75% less energy.

IBM is currently working with manufacturing partners in the US and abroad to begin mass production of 2nm semiconductors in 2024. Meanwhile, Samsung Electronics plans to start mass production of the 2nm process for mobile applications in 2025, high-performance computing in 2026 and automotive in 2027.

Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract manufacturer of semiconductor chips, has responded with its plans to offer the most advanced semiconductor technology globally. Its next-generation 2nm process technology will be introduced in 2025. Its 2nm technology is expected to provide up to 15% speed improvement over N3E (3nm class nodes) at the same power, up to 30% power reduction at the same speed and a chip density of over 15% greater than N3E.

Intel, one of the world’s largest chipmakers, has said it will officially leave nanometre-scale process nodes behind and start classifying chips with angstroms. An angstrom is 0.1nm but Intel’s naming is not based on size. The first chip, expected to launch in the second half of 2024, will be classed as an Intel 20Å node. Intel 20Å is a rebranding of Intel’s 5nm node. This will be followed by Intel 18Å in 2025. Industry observers say these are 5nm nodes with the “equivalent” of 2nm technology.

Advanced packaging technology

Artificial intelligence (AI) advancements are driving a new era in advanced packaging technology. Three-dimensional chip packaging, also known as 3D packaging or 3D integration, is an advanced semiconductor packaging technology that involves vertically stacking multiple integrated circuits or chips on each other within a single package.

In the past, chip packaging was seen as less technologically demanding than the front-end process of designing and fabricating semiconductor wafers. However, advanced packaging, introduced around 2000, started to gain attention as a way to improve chip performance further.

Applications that require high-performance, low-power chips that can rapidly process massive data, such as 5G, autonomous vehicles, Internet of Things devices, and virtual and augmented reality, will benefit from advanced packaging technology. Nvidia’s H100 GPU, which provides the computing power for the popular ChatGPT AI chatbot, uses TSMC’s advanced packaging process.

Yole Intelligence estimates that the market for advanced chip packaging services reached US$44.3 billion in 2022 and will hit US$78.6 billion (RM371 billion) by 2028, a compound annual growth rate (CAGR) of 10.6%.

In Malaysia, Penang will eventually become Intel’s largest production base for 3D chip packaging. The new factory will be Intel’s first overseas facility and the primary product hub for advanced 3D chip packaging using Intel’s Foveros technology. According to the US chipmaker, Amazon, Cisco and the US government have committed to using this advanced packaging technology.

There are opportunities for local E&E companies to move into the advanced packaging space.

“Advanced packaging used to be mundane work, but now it’s becoming essential globally. We have some excellent E&E companies in the country and they will require capabilities in this area. The geopolitical landscape is such that companies are looking for alternative places to build new semiconductor production facilities worldwide.

“These facilities will range from low- to high-end capabilities but will require some element of advanced packaging. While the local industry is unlikely to claim technological dominance, we must be ready to do some advanced packaging work,” says Jaffri.

“There is room for manufacturers to add value if they look at co-developing advanced packaging solutions. Some local companies are currently doing flip-chip packaging, so the challenge is to meet the next transitional shift. The packaging industry will be huge and there is much room for growth for everyone. Mimos hopes to assist local players with the advanced packaging fabrication technology that is needed to move up the value chain,” Iskandar says.

Advance packaging is an area that Mimos and Crest’s R&D activities have been focusing on. Crest has identified advanced materials and packaging as a technology cluster. This means the centre actively explores opportunities and fosters new areas of expertise and collaboration in this technology.

Automated test equipment

Another area where Mimos’ Iskandar sees opportunities for the local E&E industry is automated test equipment (ATE). The global ATE market serves diverse industry verticals from consumer electronics, telecommunications and defence to automotive and healthcare. Global trends such as interest in electric vehicles, implementation of 5G technology, Industry 4.0 and the use of AI are driving the growth of the ATE market.

ATE is used for front-end wafer testing and back-end semiconductor testing. This equipment can reduce a semiconductor manufacturer’s production costs and time, check the performance of electronic devices and prevent faulty devices from entering the market.

Market research firm MarketsGlob says the global semiconductor test equipment market reached US$2,076.5 million in 2022 and is expected to reach US$5,002.2 million in 2029, a CAGR of 3%.

Malaysian companies are already in this space. Locally-listed ATE makers include ViTrox Corp Bhd, Greatech Technology Bhd, Pentamaster Corp Bhd, Mi Technovation Bhd, QES Group Bhd, Aemulus Holdings Bhd, MMS Ventures Bhd, Elsoft Research Bhd and VisDynamics Holdings Bhd.

Greatech and Pentamaster are factory automation solution specialists whose clients include multinational corporations in the semiconductor sector. Generally, local ATE companies are not direct competitors as their products and services fulfil a specific need in the semiconductor industry.

“I think the local ATE manufacturers are a formidable force. Many companies are big-scale industry players and making strides towards developing new capabilities such as proprietary software electronic modules or wafer fabrication equipment,” says Iskandar.

Semiconductor wafer fabrication creates circuits used in E&E devices. Global semiconductor wafer fab equipment manufacturers include Applied Materials, ASML, TSMC, Motorola, Samsung and Lam Research.

Wide-bandgap semiconductors

Malaysia stands a good chance of becoming a prominent wide-bandgap semiconductor production hub on the back of its conducive ecosystem and capabilities.

In early 2022, German semiconductor manufacturer Infineon Technologies announced plans for a third manufacturing line to boost its production of wide-bandgap semiconductors that use silicon carbide (SiC) and gallium nitrate (GaN) as the base materials. Both Sic and GaN are high-performance semiconductor materials used in lighting, household appliances, consumer electronic equipment, energy vehicles, smart grids and military supplies.

According to Transparency Market Research, the global wide-bandgap semiconductor market will increase at a CAGR of 24.6% from 2022 to 2031. At the end of 2023, this market should reach a value of US$9.5 billion.

“The country has gained a strong foothold in GaN research and development. One of our greatest hits in collaborative research is in GaN. The Crest & ams-Osram programme positioned us at the forefront of GaN research for producing high-power light-emitting diodes or LEDs, the next generation of power electronics, radio,” says Jaffri.

“When we started this discussion in 2012, we had about a handful of GaN researchers in the country. Now, we have about 80 GaN researchers and companies have decided to invest here because of our capabilities and talent pool,” he adds.

Collaboration and government-guided initiatives to support innovation

In the ever-evolving landscape of global industries, the interplay between cooperation and rivalry is a dynamic force that can shape their future.

Mimos president and CEO Dr Iskandar Samad, Collaborative Research in Engineering, Science and Technology (Crest) CEO Jaffri Ibrahim and industry observers concur that fostering collaboration between the government, academia and industry can drive growth in Malaysia’s electrical and electronics (E&E) sector while bolstering its competitive edge in the high-tech global marketplace.

Government bodies such as Mimos and Crest create an environment conducive to innovation. This is achieved through various means, including funding for research and development, facilitating partnerships between industry and academia, and crafting policies that incentivise innovation.

In early September, industry-led Crest officially became an agency under the Ministry of Investment, Trade and Industry. Over 11 years, Crest has established itself as a premier platform for collaborative applied research in the E&E industry.

“Crest is a unique organisation because it represents different things to different parties and people. Along the journey, it has evolved (and is still evolving) to meet the needs of various stakeholders. These include the government, agencies, technology-driven multinational corporations, local listed companies and small and medium enterprises involved in high-tech manufacturing, as well as technopreneurs, inventors, researchers, graduates, undergraduates and students,” says Jaffri.

“Many governments have strategically intervened in technology-driven industries throughout history. Take Japan after World War II, for instance. The government initiated an industrial policy encouraging collaboration among agencies, academia and industry. The result? The emergence of a thriving camera industry with global powerhouse brands like Nikon and Canon, renowned for their innovative cameras, lenses and technology.

“Taiwan’s semiconductor industry, South Korea’s electronic goods sector and China’s domestic semiconductor research and manufacturing initiatives echo similar success stories,” says Iskandar.

“Considering the multitude of chip Acts on a global scale, it’s evident that the E&E industry is strategically important. Governments have plans and taken steps to join this trillion-dollar industry. From this vantage point, we require macro-level orchestration with a clear direction to meet the local industry’s evolving needs while advancing our technologies in the years ahead,” he adds.

The environment, social and governance arena provides fresh opportunities for government collaboration with semiconductor companies, encouraging new entrants to establish operations and engage with local players.

Jaffri observes that sustainability concerns are high on the agenda of global semiconductor firms, many of which are eager to take tangible and measurable steps towards more sustainable designs and operations.

In late 2022, the Semiconductor Climate Consortium was established by companies across the global semiconductor value chain, with members including industry giants like Intel Corp, Samsung Electronics, TSMC, Western Digital, Google and Microsoft. Like other industries, semiconductor companies that set and meet significant sustainability targets are poised to gain a competitive advantage in the market and attract top talent.

“Across the globe, semiconductor companies strive to attain their ESG objectives while adhering to government regulations and managing operating costs. ESG holds such paramount importance that industry players are willing to collaborate and share best practices. In regions where government-supported ESG partnerships exist, these companies will surely seek participation in such collaborations,” says Jaffri.

Source: The Edge Malaysia

Semiconductors: Tech innovations reshaping E&E industry

Saudi Aramco is committed to expanding its facilities at the Pengerang Integrated Complex, Johor by adding petrochemical and gas downstream activities for it to become the largest hub in Southeast Asia, said Prime Minister Datuk Seri Anwar Ibrahim.

He said the matter was conveyed to him by the management of the world’s largest oil and gas company during a discussion held with him at the Ritz-Carlton Hotel on Saturday morning.

Anwar, who is also the finance minister, met with Saudi Arabia’s Trade Minister Dr Majid Abdullah Alkassabi and the president and chief executive officer of Saudi Aramco Amin H Nasser to further discuss the company’s investment plans.

Previously, Saudi Aramco had voiced its intention to make Malaysia the hub of Saudi Arabia’s oil and gas development in the Southeast Asian region. In 2017, the national oil and gas company of Saudi Arabia established a joint investment with Petronas in Pengerang, Kota Tinggi.

The Fortune Global 500 in 2021 listed Saudi Aramco in the top six most profitable companies in the world, with revenues amounting to US$105 billion  (US$1=RM4.77).

Anwar said he also received a courtesy visit from the governor of the Public Investment Fund (PIF) of Saudi Arabia, Yasir Al-Rumayyan, who discussed the prospect of cooperation in the field of investment.

He said the PIF, whose role is the same as Khazanah Nasional in Malaysia, has agreed to cooperate with Permodalan Nasional Bhd and the Employees’ Provident Fund Fund.

“This is in line with efforts to increase joint investments, not only in Saudi Arabia but also in Malaysia. For starters, there is an intention to cooperate in Iraq and the African continent,” he added.

In addition, Anwar said there are other interesting developments involving several Malaysian companies in large projects in Saudi Arabia, including the construction of infrastructure for the NEOM project.

The Saudi Arabian luxury project is worth US$500 billion (RM2.24 trillion) and will set a record of its own when it houses a 120-kilometre-long skyscraper known as the Mirror Line, which will provide an amazing city life in the future.

Anwar said the Ministry of Investment, Trade and Industry and the Malaysian Investment Development Authority have been instructed to help coordinate efforts to increase the country’s investments.

Source: Bernama

Saudi Aramco committed to expanding facilities at Pengerang

Sabah will see the development of two new industrial parks in an effort to further stimulate the state’s economic growth and industries in line with the current state government’s investor-friendly approach.

Chief Minister Datuk Seri Hajiji Noor said one of the parks will be developed in Kimanis for the oil and gas industry while the other, to be located in the Kota Marudu-Kota Belud area, will be a general industrial park.

He said the move follows the two existing industrial parks — the Sipitang Oil and Gas Industrial Park and Kota Kinabalu Industrial Park — almost reaching full occupation.

“The effort is also in line with the commitment of the state government to further boost the development in Sabah as well as enhancing the people’s quality of life by implementing programmes and initiatives covering various growth sectors,” he said here on Saturday.

The chief minister was giving a speech at the investitute ceremony in conjunction with the 70th birthday of the Yang di-Pertua Negeri Tun Juhar Mahiruddin at Istana Seri Kinabalu, where 50 people were conferred awards, decorations and medals.

Hajiji also said the state development agenda, specifically the Sabah Maju Jaya (SMJ) road map, is currently on the right track and has begun to show positive results after just three years at the helm.

Source: Bernama

Hajiji: Two more industrial parks to be developed in Sabah to further boost the economy