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An increase in investment inflows, improved tax collection relative to the gross domestic product (GDP), and a narrower fiscal deficit are positive catalysts expected to drive Malaysia’s economy to grow between 5.0 per cent and 5.5 per cent in 2024 and 2025.

Malaysian Rating Corporation Bhd (MARC) chief economist Ray Choy said that total approved investments have averaged over RM300 billion — a significant increase compared to the period from 2015 to 2019 when this figure stood slightly above RM200 billion.

“This represents a substantial rise in investments over time, reflected in the improvement in GDP growth and an increase in gross fixed capital formation, which indicates additional capacity building in the Malaysian economy,” he said during the virtual MARC360 Reflections: Analyses of Malaysia’s Budget 2025 and Post-Budget Debates event today.

Malaysia’s cyclical growth prospects remain strong, bolstered by a relatively elevated manufacturing Purchasing Managers’ Index (PMI) and improving business confidence.

“Malaysia’s PMI has improved. It is not just about whether PMI is below or above 50, but about the cyclical improvements we have observed since the third quarter of 2023.

“This improvement is mirrored across business confidence in services, wholesale and retail trade, as well as in construction and industry,” Choy said.

In October, the seasonally adjusted S&P Global Malaysia Manufacturing PMI remained unchanged at 49.5, with new orders rising for the first time since June.

S&P Global previously reported that, while the index slightly trailed the neutral 50.0 threshold, it indicated a slight softening in business conditions over the month.

He added that global semiconductor trends have shown improvement, benefiting Malaysia as well.

On the fiscal deficit target, Choy said the fiscal deficit-to-GDP ratio has shown consistent improvement, with government expenditure as a share of GDP expected to decline due to reduced subsidies and the careful management of development expenditure.

“Malaysia is increasingly utilising public-private partnerships to drive development, effectively managing development expenditure even with a slightly reduced allocation,” he said.

Commenting on the ringgit’s performance, Choy said the currency has performed well year-to-date, and Malaysia stands out for its GDP growth trajectory, which is slightly higher than pre-pandemic levels — an encouraging trend compared to other economies.

“This is drawing global investors to Malaysia-denominated assets,” he said.

Meanwhile, the MARC360 Reflections: Analyses of Malaysia’s Budget 2025 and Post-Budget Debates is the latest instalment of its MARC360 series, where economic experts, policymakers, and industry stakeholders explored Budget 2025 and its expected impacts on Malaysia’s economic landscape.

The session featured presentations and insights from prominent voices in economic and fiscal policies, including the Finance Ministry’s Fiscal and Economics Division’s deputy undersecretary (economic research) Nirwan Noh, Moody’s Ratings’s senior sovereign risk analyst Christian de Guzman, and the Center for Market Education’s chief executive officer Carmelo Ferlito.

Source: Bernama

Malaysia’s GDP growth for 2024, 2025 boosted by investment inflows, strong business confidence

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Prime Minister Datuk Seri Anwar Ibrahim reaffirmed Malaysia’s commitment to strengthening collaboration with China, emphasising both trade and broader global objectives.

During his courtesy call on President Xi Jinping at the Great Hall of People, Anwar expressed his gratitude for China’s continued support and emphasised the importance of shared values and vision between the two nations.

“I have followed you closely, Mr. President, especially your brilliant speech at the BRICS summit. Your support for our partnership with BRICS has been invaluable. More importantly, your vision for global security and development resonates deeply with us,“ said Anwar, referring to China’s President.

He further noted that China’s emphasis on “values and civilisation” sets it apart from many other world leaders, underscoring China’s passion for not only its people but also for the welfare of humanity.

“This is why we view China not just as a leader of the East but as a voice for the Global South, one that champions the interests of the developing world.”

The Prime Minister also highlighted the deepening ties between Malaysia and China, focusing on areas such as trade, investment, digital technology, energy, and training.

He said Malaysia particularly appreciates China’s willingness to embrace the nation as a partner in these key sectors.

“I spoke at Peking University earlier today on how I view China’s vision for a shared future, something that many developed countries have yet to embrace,“ he added.

“Your vision of a global community where China’s success is understood and shared with the international community is a powerful example of leadership.”

Looking ahead, Prime Minister Anwar also discussed Malaysia’s upcoming ASEAN chairmanship and the region’s growing ties with the Gulf Cooperation Council (GCC) and China.

He highlighted a notable achievement in ASEAN’s diplomatic efforts: the ASEAN-GCC-China partnership, which he believes will play a pivotal role in shaping the future of global trade and cooperation.

Despite challenges, the Prime Minister assured that Malaysia would continue to act in its national interest, citing the country’s independent decision-making process on issues such as 5G technology.

“We have decided that Chinese 5G technology will be a key part of Malaysia’s digital infrastructure, a choice made to benefit our country,“ he said.

The Prime Minister concluded his remarks by expressing confidence in the success of ASEAN’s future initiatives, with China’s involvement being essential to ensuring the region’s prosperity.

“We look forward to your continued support, Mr. President, as your presence is critical to the success of ASEAN,“ he said.

This statement reflects Malaysia’s increasingly strategic position on the global stage, positioning itself as a key player in both regional and international affairs.

Anwar arrived in Beijing on Wednesday, the last stop of his working visit to China from Nov 4 to 7. He arrived in Shanghai on Monday to attend the 7th China International Import Expo (7th CIIE).

Source: Bernama

PM Anwar: Malaysia committed to strengthening collaboration with China beyond trade

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From January to September 2024, Malaysia’s halal product exports increased to RM45.04 billion compared to RM39.36 billion in the same period in 2023.

Deputy Investment, Trade and Industry Minister Liew Chin Tong said Malaysia’s ability to dominate the halal market is still constrained by the low issuance of halal certificates by the Malaysian Islamic Development Department (JAKIM).

“Early analysis carried out under Halal Industry Master Plan 2030 (HIMP 2030) estimated the global halal market to be worth RM5 trillion,” he said when winding up the debate on the Supply (Budget) Bill 2025 at the policy stage for the Ministry of Investment, Trade and Industry (MITI) in the Dewan Rakyat today.

Liew was clarifying the issue of the Halal Development Corporation Bhd (HDC) and Malaysia External Trade Development Corporation(MATRADE) merger raised by several members of Parliament from the government bloc.

He said the merger between HDC and MATRADE was justified as part of the effort to increase the export value of halal products and to seek new markets, as MARTRADE has a network of ready markets that local halal industry players can capitalise on.

“MITI believes the merger will increase the HDC-MATRADE synergy and optimise ready resources, especially to promote the halal industry to become more effective and competitive.

“At the same time, efforts to develop a local halal champion to penetrate the export market will be focused on serious industry players,” he added.

Source: Bernama

Malaysia records RM45.04b in halal product exports from January to September 2024 – MITI

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Malaysia stands ready for a new era of investment, supported by a clear vision for economic transformation and a commitment to attracting investments aligned with the nation’s high-growth and sustainable future, said Finance Minister II Datuk Seri Amir Hamzah Azizan.

He said the government is committed to making Malaysia a top-tier investment destination, attracting high-value investments, as articulated in the New Investment Aspiration.

“As announced in the 2025 Budget, the MADANI Economy framework will continue its focus on reinvigorating the economy, driving reforms, and prospering the nation,” he said in his speech at the InvestMalaysia Portal launch today.

Among the growing investment landscape in Malaysia are the National Semiconductor Strategy (NSS), and the National Energy Transition Roadmap (NETR), as well as the New Investment Incentive Framework which is expected to be announced in the first quarter of 2025.

The framework aims to open new avenues for investors, including tax incentives and strategic investment funds.

Additionally, government-linked investment companies have collectively pledged to channel RM120 billion over the next five years in domestic direct investments towards high-growth and high-value industries, he said.

“Collectively, these reforms were built on the back of our solid fundamentals, strengthening our resilience and maximising the growth potential of local supply chains – positioning Malaysia as an ideal, high-returning, and safe investment destination,” he said.

Meanwhile, the government has launched the InvestMalaysia portal (www.investmalaysia.gov.my) to provide investors with essential information on investing in Malaysia.

The portal aims to reinforce Malaysia’s standing as a competitive and appealing investment destination by showcasing opportunities in the country’s financial markets to both domestic and international investors.

“Investors can obtain comprehensive information on Malaysia’s economic and investment policies, as well as gain real-time insights on not just the investment opportunities that Malaysia has to offer, but also the relevant steps to make the most of them.

“The portal will also redirect investors to the right path and links to the relevant agencies’ websites based on their investments of choice. Ultimately, the goal is to empower investors to independently assess Malaysia’s economic prospects and explore investment opportunities the country can offer,” he said.

He concluded that the InvestMalaysia Portal marks a significant advancement in bridging the gap between investment intention and action, simplifying access for investors, and making Malaysia’s investment landscape more navigable and rewarding.

“Together, the Investor Relations Office and the InvestMalaysia portal would act as navigators for portfolio investors looking to participate in the Malaysian market,” he said.

Bank Negara Malaysia (BNM) Governor Datuk Seri Abdul Rasheed Ghaffour said the platform is akin to an arbiter of Malaysia’s macroeconomic strength and investment potential.

“In this post-abundance world, often, it is not information that we lack but rather a mechanism to help us decide and evaluate our choices. This effort is imperative for Malaysia as we accelerate structural reforms to strengthen Malaysia’s long-term economic prospects,” he added.

Source: Bernama

Malaysia ready for new investment era with clear economic vision – MOF

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Huawei has provided hundreds of mobile network sites as well as cloud services and intelligent operation centres in Sarawak, which have helped improve wireless network coverage in remote areas, accelerating the country’s digital transformation, said Prime Minister Datuk Seri Anwar Ibrahim.

Through his visit and high-level meeting with the Huawei delegation earlier on Thursday in Beijing, the prime minister said he was informed about several Huawei technologies being utilised to address certain issues in Malaysia, particularly in bridging the digital divide.

“I was impressed by the technological progress and solutions developed by Huawei, which include 5.5G, cloud computing, and artificial intelligence (AI) that have catalysed digital transformation in government and industry sectors,” he said in his official Facebook post.

Earlier, Anwar, who is also the finance minister, visited the Huawei Executive Briefing Center in Beijing and was welcomed by Huawei’s senior leadership, who guided him through the company’s various technological advancements. He then led the Malaysian delegation in a high-level meeting with the Huawei delegation, headed by Liang Hua, chairman of the board of Huawei Technologies Co Ltd.

Anwar ends his four-day working visit to China on Friday, which kicked off on Nov 4.

Accompanying him during the China visit were Foreign Minister Datuk Seri Mohamad Hasan, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Aziz and Human Resources Minister Steven Sim Chee Keong.

Source: Bernama

Huawei helps to accelerate country’s digital transformation — PM

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The Penang government is dedicated to establishing a foundation rooted in technological
excellence and industrial expertise, positioning itself as a leader in hightech manufacturing and a key player in the global supply chain.

Penang Deputy Chief Minister II Jagdeep Singh Deo said the state’s focus is on creating an ecosystem that supports the entire innovation journey – from university research through to commercialisation and market entry.

“Recognised as Malaysia’s Silicon Valley, Penang’s strength provides a powerful platform for advancing
technology and developing human capital,” he said.

The State Human Capital Development, Science, and Technology Committee chairman emphasised that initiatives like Universiti Sains Malaysia (USM)’s INNOZILLA 2024 align with Penang’s broader vision by nurturing future talents and spurring innovation across various sectors.

“By integrating INNOZILLA into this vision, we reinforce our commitment to supporting industries, empowering youth, and sustaining Penang’s competitive edge,” he said during the launch of USM INNOZILLA 2024 at Dewan Utama Pelajar, USM, yesterday.

Jagdeep said Penang is well positioned to attract cutting-edge technology and high-value investments, particularly as a hub for semiconductor and electronics industries, adding that Penang’s strengths make it an ideal location for transforming innovative ideas into practical applications that can serve global markets.

USM INNOZILLA 2024, which runs until today, is a dynamic innovation exhibition and competition aimed at advancing the United Nations Sustainable Development Goals.

The event features 188 projects (143 physical and 45 virtual) from schools, colleges, universities, and startups across Penang and several other Malaysian states, as well as participants from Indonesia and
Singapore.

The event has also attracted over 30 industry players and government agencies, showcasing their support in helping academia and innovators transform their inventions into market-ready products.

Source: Bernama

Penang remains focused on maintaining tech, industrial excellence

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PLANS are afoot by SIRIM National Precision Tooling (NPT) for the establishment of a Centre of Excellence (COE) to cater for bumiputra-owned industries that utilise tools, dies and moulds (TDM).

With this centre, these companies in the TDM segment can have ready access to a Smart Factory that employs Industry 4.0 technologies.

It would serve as a hub of innovation, offering a scalable and adaptable environment where small and medium enterprises (SMEs), industry leaders and even academic institutions could collaborate seamlessly under one roof.

Recent developments with more modern manufacturing machines such as 3D printers would allow companies to combine such resources and utilise smart manufacturing technologies like the Internet of Things, artificial intelligence (AI) and machine learning to improve their manufacturing processes.

It would also be possible for them to monitor production in real-time, predict maintenance needs and optimise resource use with the use of these latest factory technologies.

These plans follow the success of the TDM 2.0 Project which saw selected beneficiary bumiputra-owned companies undergo capability developments under SIRIM NPT’s Coaching and Certification Building Program, Equipment Acquisition Program and Design Capability Development Program.

“Initially we started with the automotive sector, but now we are expanding it to cover three other industries – aerospace, medical devices and rail.

“So far, NPT has helped more than 40 companies – mainly SMEs from these four sectors – by providing access to modern equipments or machine tools such as the Computer Numerical Control (CNC) machine, which is crucial in the TDM sector,” NPT’s chief executive officer Ts. Mohd Fauzi says.

The planned COE is to be equipped with modern facilities which can communicate over the Internet cloud for product development.

“This serves as a heart for innovation, where the industry can collaborate seamlessly through a digital platform – the design can be done elsewhere and be manufactured here, for example.

“It will also be a centre for learning, especially for younger talents, to acquire knowledge and new technologies in the various industries,” Ts. Mohd Fauzi says.

SIRIM NPT also highlights its aim to develop 1,000 high-skilled talents in the TDM sector within five years.

“Let’s say there are 100 companies and each one develops two talents per year – in five years this will be 10. So from 100 companies, this will amount to 1,000 talents. The plan is for NPT to subsidise half of their salaries during the one-year period,” Ts. Mohd Fauzi says.

He notes that companies which hire talents from Technical and Vocational Education and Training (TVET) centres may find this useful.

“With this type of training, these are considered high-value added kind of jobs. This would also help to attract younger talents to the industry to ensure its sustainability moving forward,” he adds.

Ts. Mohd Fauzi hopes these initiatives can start in the year 2026.

“This is planned under the 13th Malaysia Plan. We have grown from 15 companies when we started this under TDM 1.0.

“And these latest plans will see NPT aim for 100 companies,” he adds.

Source: The Star

Enhancing skills in manufacturing

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The government plans to leverage Sabah’s local strengths and capabilities to attract investors in the high-tech manufacturing industry, with a focus on downstream activities.

Deputy minister of Investment, Trade and Industry Liew Chin Tong said that this aligns with Mission 4 of the New Industrial Master Plan (NIMP) 2030, which emphasises harmonising development plans between the federal and state governments.

Liew highlighted several potential downstream industrial activities in the Palm Oil Industrial Cluster (POIC) in Lahad Datu, covering sectors such as palm oil, biomass, and petrochemicals.

“POIC Lahad Datu has the potential to become a hub for palm oil-based products like oleochemicals, nutraceuticals, plastics, biofuels, and cosmetics. It also has potential for biomass-based products like biochemicals, biofuels, bioplastics, electricity, fuels, paper, pulp, and fibre,” he said during the question-and-answer session in Dewan Rakyat today.

Liew also noted that POIC Lahad Datu’s integrated port facilities including liquid, dry, and container terminals, support the handling of various types of cargo in the petrochemical industry cargo, such
as oil refineries, bulk storage, and product distribution.

He was responding to Riduan Rubin (Independent-Tenom), who inquired about the Ministry of Investment, Trade and Industry strategic framework to attract investors to Sabah’s high-tech
manufacturing sector.

The deputy minister pointed out that the initiative could create job opportunities for Sabah’s Technical and Vocational Education and Training (TVET) graduates, helping to strengthen local economic development.

Liew also said POIC Lahad Datu has the potential to become a logistics and transhipment hub, with facilities including a free trade zone, bonded warehouses, cold storage, food processing, oil and
gas storage, bunkering and bulking, and a supply base.

In the halal industry, POIC Lahad Datu has been recognised as the first industrial park with HALMAS status in Sabah, making it attractive to halal-based industries such as food, pharmaceuticals, and cosmetics.

“Its location near the container port also facilitates import and export activities,” he said.

According to Liew NIMP 2030 also emphasises skill development and job creation, targeting 3.3 million jobs in the sector, with three million aimed at high-skilled and semi-skilled jobs.

To support TVET graduates in Sabah, the government is taking steps to develop talent in the solar industry, with companies like SBH Kibing Solar New Materials (M) Sdn Bhd involved, he said.

“The Kota Kinabalu Industrial Training Institute (ILP) has conducted internal interviews to match skilled labour with job opportunities in the related industrial sectors.

“ILP Kota Kinabalu has also been designated as a talent development centre in solar technology, while ILP Sandakan focuses on talent for the electric vehicle and hydrogen industries,” he added.

Source: Bernama

Government to leverage Sabah’s strengths, capabilities to attract high-tech manufacturing investors – – MITI

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Malaysia’s strategic position and appeal as an investment destination, supported by a skilled workforce and government policies, were among the topics discussed by Prime Minister Datuk Seri Anwar Ibrahim with potential Chinese investors today.

Anwar, who is on a working visit to China, began the third day of his trip in Shanghai with a dialogue session organised by Khazanah Nasional Bhd (Khazanah) this morning.

The session brought together two Chinese investors, including representatives from Chengwei Capital, a leading venture capital firm with unique expertise and resources in the global semiconductor industry.

He also met with representatives from NRL Capital, a science and engineering company founded by individuals pivotal in the successful development of high-tech industrial clusters across China.

During the meeting, potential collaborations in technology and innovation investments in Malaysia were explored with the investors.

The investors are expected to partner with Khazanah to develop next-generation Malaysian companies and enhance Malaysia’s role in global supply chains, especially within high-tech sectors.

At the same time, Anwar held a closed-door, one-to-one business meeting with several Chinese companies from the banking, energy and chemical sectors.

This includes Bank of China, SinoChem, SICC Co, SEMCORP and Zhejiang Jiahua Energy Chemical Industry Co.

The prime minister also participated in a roundtable session with 24 ‘captains’ of industry.

Anwar is scheduled to depart for Beijing at 4pm today to visit the Huawei Executive Briefing Centre before a courtesy call with President Xi Jinping tomorrow.

The prime minister’s working visit to China is at the invitation of his counterpart, Li Qiang, to attend the 7th China International Import Expo (7th CIIE) in Shanghai.

For 15 years since 2009, China has been Malaysia’s largest trading partner.

In 2023, total trade with China was valued at RM450.84 billion (US$98.80 billion), contributing 17.1 percent to Malaysia’s global trade.

As of September this year, the total trade was recorded at RM355.15 billion (US$76.72 billion).

In the first half of 2024, a total of 15 manufacturing projects were implemented with investments totalling RM1.2 billion (US$252.5 million).

Source: NST

Anwar highlights Malaysia’s strategic role as investment hub with Chinese investors

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Chinese investors and companies are showing greater interest in Malaysia, said Prime Minister Datuk Seri Anwar Ibrahim.

“This is a very positive development,” he told Malaysian media after a roundtable session with over 20 industry leaders here today.

The Prime Minister said there were discussions on national policies, including on regulations and investment.

“I see rising enthusiasm and interest (shown by investors and companies from China),” he said.

Asked about potential investments secured during his visit, Anwar said: “We will announce the figure tomorrow.”

He started the day by attending a dialogue with Chinese investors, organised by Khazanah Nasional Bhd.

“It has been exhausting as there have been back-to-back meetings since morning, but I think it is beneficial,” he said.

Separately, the Prime Minister’s Office (PMO) said Anwar engaged in several productive discussions with Chinese investors on the third day of his working visit to China.

The investors include Chengwei Capital, a prominent venture capital firm with proprietary global semiconductor expertise and resources; and NRL Capital, whose founders have played instrumental roles in the successful development of hi-tech industrial clusters in China.

The PMO said the discussions anchored on Malaysia’s centrality and its attractiveness as an investment destination given its talented workforce and supportive government policies.

It said Anwar also discussed potential collaborations with these investors with regard to investing in technology and innovation in Malaysia.

“These investors will look at collaborating with Khazanah Nasional in building next-generation Malaysian companies to further boost Malaysia’s prominence in global supply chains, particularly in high technology sectors.

“This will drive the Madani Economy vision of fostering innovation and making technology more accessible and inclusive to all,” the PMO said in a statement today.

Besides attending the dialogue and roundtable sessions, Anwar also met with several companies in one-to-one business meetings.

They comprised representatives from the Bank of China, SinoChem, SICC Co Ltd, Semcorp, and Zhejiang Jiahua Energy Chemical Industry Co Ltd.

He is set to depart for Beijing this afternoon.

He is accompanied by Foreign Minister Datuk Seri Mohamad Hasan, Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz, and Human Resources Minister Steven Sim Chee Keong.

Anwar’s working visit to China is at the invitation of Premier Li Qiang, to attend the 7th China International Import Expo (CIIE) in Shanghai.

CIIE is a trade fair organised by the China government that provides a platform for countries involved in the Belt and Road Initiative to promote and export goods and services to the country.

For 15 years since 2009, China has been Malaysia’s largest trading partner.

In 2023, total trade with China was valued at RM450.84 billion, contributing to 17.1 per cent of Malaysia’s global trade.

As of September, total trade stood at RM355.15 billion.

In the first half of 2024, 15 manufacturing projects were implemented with investments totalling RM1.2 billion.

This trip marks Anwar’s third visit to China as Prime Minister, after his maiden visit in March 2023 that was followed by another in September the same year.

However, this is his first visit to Shanghai.

His four-day working visit will end in Beijing tomorrow.

Source: Bernama

Anwar sees rising interest in Malaysia among China investors, firms

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Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz has joined Prime Minister Datuk Seri Anwar Ibrahim in congratulating Donald Trump on his victory in the United States (US) presidential election.

Republican candidate Trump, 78, defeated Democrat Kamala Harris in the 2024 US presidential election held on Tuesday.

Tengku Zafrul in his posting on his ‘X’ platform today said that the US and Malaysia have an enduring economic as well as trade partnership.

“The US has consistently been one of Malaysia’s top trading partners and one of the largest investors in our country. Our people-to-people ties, spanning generations, extend across various areas like education, as well as family and friendships.

“I am keen — especially with Malaysia assuming the 2025 Chairmanship of ASEAN — to work with my counterparts in the new administration to strengthen and add mutual benefit to our relationship, whether on a bilateral or multilateral basis,” he said.

Source: Bernama

United States to remain top trading partner, largest investor in Malaysia – Tengku Zafrul

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Prime Minister Datuk Seri Anwar Ibrahim led a Malaysian delegation in one-on-one meetings with four leading companies in Shanghai before continuing his visit to Beijing today.

The Prime Minister, currently in China, said the sessions started with a meeting with a Bank of China delegation led by its chairman Ge Haijiao.

“Our discussion involves opportunities to strengthen Malaysia-China financial cooperation, including local currency trade settlements.

“This was followed by the petrochemical company Sinochem delegation, led by general manager Liu Chun, who expressed their intention to import chemicals for the manufacture of personal care products, cosmetics and the like, in line with Malaysia’s capabilities and strong network of manufacturers and suppliers, especially in the petrochemicals field,” he said in a post on X (formerly Twitter).

Anwar added that the next meeting was with SICC Co. Ltd, a leading semiconductor company that also expressed its intention to expand into Southeast Asia.

The delegation also met with SEMCORP, the world’s largest manufacturer of lithium-ion separator films, which wants to explore establishing a hub to meet the growing demand for electric vehicle components in the region.

“This series of discussions illustrates Malaysia’s growing attractiveness as a competitive investment destination, and the Madani Government wants to continue to attract quality investments, thereby creating more highly skilled jobs,” he said.

This is Anwar’s maiden visit to Shanghai and his third to China.

The Prime Minister made his maiden visit to the country in March 2023, followed by September the same year.

The four-day working visit will end in Beijing on November 7 and is at the invitation of his counterpart Li Qiang to attend the 7th China International Import Expo.

He was accompanied by Foreign Minister Datuk Seri Mohamad Hasan; Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, and Human Resources Minister Steven Sim Chee Keong.

Source: Bernama

Meetings with companies in Shanghai an opportunity to attract quality investments — PM

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Malaysia is set to launch a new investment incentive scheme by mid-2025, that aims to introduce stricter regulations for foreign investors to meet localisation requirements.

Deputy Minister of Investment, Trade and Industry Liew Chin Tong said the ministry is currently working with the Malaysian Investment Development Authority (Mida) and the Ministry of Finance (MOF) to propose the new scheme.

“This aligns with the National Investment Aspirations (NIA), as we will impose stricter rules to ensure that foreign direct investment benefits the local economy,” Liew told the Dewan Rakyat during an oral question-and-answer session on Wednesday.

Liew was responding to Bayan Baru Member of Parliament Sim Tze Tzin, who asked if the government would follow Indonesia’s approach of suspending sales of Apple’s iPhone 16 for allegedly failing to meet domestic content requirements.

In response, Liew stated that Malaysia might not adopt as stringent a measure as Indonesia, given Malaysia’s relatively smaller domestic market compared to the archipelagic state.

Indonesia’s population size exceeds 260 million, while Malaysia’s is just over 34 million.

“In drafting any policy, Malaysia needs to consider both the domestic and international markets,” Liew noted.

Nevertheless, Liew emphasised that under the current policy, Mida requires foreign firms receiving incentives from the authority to adhere to localisation programmes. These requirements include purchasing equipment locally or partnering with local contractors, as part of efforts to boost the domestic economy.

Source: The Edge Malaysia

Liew: Malaysia to introduce stricter localisation requirement for foreign investments

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The government, through the Ministry of Investment, Trade and Industry (MITI) and the Malaysian Investment Development Authority (MIDA), has introduced two new funds under the 12th Malaysia Plan (12MP), namely the Domestic Investment Accelerator Fund (DIAF) and the Foreign Investment Accelerator Fund (FIAF).

DIAF and FIAF build upon the Domestic Investment Strategic Fund (DISF) and the High Impact Fund (HIF), aligning with the government’s current policies under the MADANI Economy framework and the New Industrial Master Plan (NIMP) 2030, said MITI Deputy Minister Liew Chin Tong.

“DISF and HIF, which were allocated under the 10MP and 11MP, have been fully utilised, with approvals for 526 projects,” he said during a question-and-answer session in the Dewan Rakyat today.

Liew explained that DIAF aims, among other objectives, to support small and medium enterprises (SMEs) and mid-tier companies in obtaining certification or verification for adopting environmental, social and governance elements.

This will be done through matching grants, with a 50:50 or 70:30 ratio for eligible expenses, depending on project evaluation.

“DIAF will also offer a 3.0 per cent interest rate subsidy for hire purchase or term loans, with a 12-month tenure, on eligible capital expenditure for automation and digitalisation projects,” he added.

Liew further noted that FIAF was introduced to attract high-quality foreign direct investment, in line with targets under NIMP 2030.

“This fund is also a matching grant, with a 50:50 ratio for eligible expenses.

“FIAF covers two types of activities, namely research, development and Innovation carried out in Malaysia, and technical training for full-time local workers,” he said.

He was responding to a question from Sim Tze Tzin (PH-Bayan Baru) regarding the government’s plans to reinstate DISF and HIF to help local companies enhance technology and reach international standards.

Liew assured that MITI and MIDA would continue to assess the effectiveness of existing incentives in line with current government policies and industry needs, while ensuring these incentives enhance the competitiveness of local companies.

“In addition, high-impact incentives will attract more quality foreign investment, generating positive spillover effects, including increased technology adoption among local companies,” he added.

Source: Bernama

Govt introduces DIAF, FIAF to support businesses and attract FDI — MITI

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Malaysia should capitalise on the growth opportunities presented by BRICS while addressing the challenges ahead to enhance its competitiveness on the global stage, say industrialists.

Small and Medium Enterprises Association of Malaysia (Samenta) national president Datuk William Ng foresees a significant increase in trade missions, coupled with enhanced diplomatic and economic representation, following the country’s admission as a partner nation of BRICS.

He believes this will lead to greater overall trade and investment opportunities within the international bloc.

“Our inclusion as a partner country is an important first step in that direction. It offers Malaysian businesses greater opportunities in member countries that go beyond free trade agreements.

“It will also reinforce Malaysia’s standing as a non-aligned economy in an increasingly polarised world,” he said.

BRICS, originally comprising Brazil, Russia, India and China, was established in 2009 as a cooperation platform for emerging economies, with South Africa joining in 2010.

The grouping has since expanded to include Iran, Egypt, Ethiopia and the United Arab Emirates.

This year, Malaysia has been one of 13 nations officially added as a partner country to the bloc that collectively accounts for one-fifth of the global trade.

The other 12 are Indonesia, Thailand, Vietnam, Algeria, Belarus, Bolivia, Cuba, Kazakhstan, Nigeria, Turkiye, Uganda and Uzbekistan.

However, none of these countries have achieved full membership yet.

Looking ahead, Ng called for efforts to reduce non-tariff barriers among BRICS member and partner economies to encourage a smoother flow of people and goods.

“One low-hanging fruit to achieve is to negotiate visa-free movement across the bloc, if not for all travellers, then at least for business purposes.

“With the expected greater business exchanges via trade missions and perhaps the ‘upgrading’ of diplomatic and economic representations, we hope to see more trade and investments across the bloc,” he said.

Federation of Malaysian Manufacturers Penang (FMM Penang) chairman Datuk Seri Lee Teong Li said while Malaysia’s participation in BRICS presents exciting new opportunities, it also brings a set of challenges that need to be carefully considered.

“The business community feels cautiously optimistic but recognises the potential benefits and preparations for competitive challenges.

“There would be access to new market and trade opportunities, as BRICS membership could open doors for Malaysian businesses to access new and diverse markets in major economies like Brazil, Russia, India, China and South Africa, which collectively have substantial demand for various goods and services,” he said.

Lee also noted that Malaysia can reduce reliance on traditional trade partners.

“We can expect an increase in foreign direct investment (FDI), with member countries looking to expand in South-East Asia, and this will benefit local industries through capital inflow, technology transfer and job creation.”

He added that if BRICS pursues a shared currency or alternative trade mechanisms, local companies might benefit from lower transaction costs and reduce dependence on volatile currency exchange rates to enhance trade stability.However, Lee said regulatory and cultural differences are aspects to be looked into.

“Entering BRICS markets requires navigating varied regulations, business practices and cultural differences.

“Businesses may need support in these areas to fully capitalise on BRICS opportunities,” he said.

BRICS represents about 40% of the global population and accounts for a cumulative gross domestic product (GDP) of US$26.6 trillion, or 26.2% of the world’s GDP, nearly matching the economic strength of the Group of Seven (G7).

Source: The Star

‘BRICS set to bring more opportunities and competition’

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Prime Minister Datuk Seri Anwar Ibrahim has extended an invitation to Jiangsu Longda Superalloy Co Ltd to expand its business into Malaysia.

Based in China’s Wuxi, Jiangsu Province, the company is a leading manufacturer specialising in superalloys, which are essential for high-demand industries such as aerospace, gas turbines, and petrochemicals.

Anwar had extended the invitation following his meeting with the company’s founder, Pu Yi Long.

Also present was Investment, Trade, and Industry Minister Tengku Zafrul Abdul Aziz.

“I am impressed by the company’s work in producing high-temperature alloys for major aerospace players,” Anwar said after the 30-minute meeting.

The Prime Minister said Jiangsu Longda’s presence in Malaysia will strengthen the nation’s position as a key player in the global aerospace industry, boosting Malaysia’s local supply chain and creating high-skilled jobs.

Anwar is currently on a working visit to China from Nov 4 to 7 at the invitation of his Chinese counterpart Li Qiang to attend the 7th China International Import Expo (7th CIIE).

Aside from Tengku Zafrul, members of his delegation include Foreign Minister Datuk Seri Mohamad Hasan and Human Resources Minister Steven Sim Chee Keong.

Source: Bernama

Anwar invites Jiangsu Longda to expand business into Malaysia

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The impending rise in U.S. tariffs on China-made gloves presents an opportunity for Malaysian manufacturers to ramp up production.

However, Tradeview Capital fund manager Neoh Jia Man anticipates that the glove sector’s overall performance will likely remain subdued in the coming months, with variations among individual companies.

He said with the planned United States (US) import tariff hike on Chinese gloves taking effect in January 2025, Chinese manufacturers are likely to ramp up their marketing efforts in non-U.S. markets such as the European Union.

“This shift creates potential opportunities for local players that can expand their exports to the US, positioning them to benefit from increased demand in this key market.

“On the other hand, players who are unable to take advantage of higher U.S. demand might see a net negative impact from downward pressure on glove prices in non-US markets,” he told Business Times.

Neoh said volume increases may vary across local players, depending on differences in production capacity and pricing power.

“However, with no Malaysian firms currently facing export restrictions to the US, most players are likely to experience a boost in US-bound shipments, though this may come at the expense of reduced sales in other regions,” he added.

Hartalega Holdings Bhd expects its sales volume of generic medical nitrile rubber gloves to rise from 1.9-2.0 billion pieces per month in the second quarter of 2024 (Q2 2024) to 2.1-2.2 billion pieces per month in Q3 2024.

This volume is anticipated to increase further in Q4 2024, reaching 2.3-2.4 billion pieces per month, primarily due to trade diversion from U.S. customers spurred by tariff changes.

Hong Leong Investment Bank Bhd (HLIB Research) said that Hartalega has an edge over other local manufacturers due to its stable business relationship with the U.S.

The bank also noted that Hartalega has not been subjected to Withhold Release Orders (WRO) by U.S. Customs and Border Protection (CBP).

“Historically, Hartalega’s revenue exposure to the US was 40-50 per cent, but it expects this to increase to 60-70 per cent from January 25 onwards.

“We view the increasing US exposure positively given the more favourable pricing vs non-US customers,” it said in a note.

The research firm observed that Hartalega has seen a resurgence in the “US premium” for October and November orders, with a slight premium of under US$ 1 per 1,000 pieces over European orders.

Hartalega expects this premium to become more pronounced in December ahead of a US tariff increase on Chinese imports, rising from 7.5 per cent to 50 per cent in January 2025, which is likely to reduce the cost-effectiveness for Chinese producers.

“Consequently, Hartalega is quoting its December orders at US$22 to US$23 per 1000 pieces (versus US$24-26 per 1000 pieces in the pre-pandemic era) for its US customers, subject to acceptance.

“This price point implies a premium of US$3 to US$4 per 1000 pieces compared to its ex-USA customers in order to fully pass on the recent forex impact faced and potentially expand its margins.

For non-US markets, Hartalega has maintained competitive pricing at US$18 to US$19 per 1,000 pieces since May 2024, as Chinese manufacturers continue to offer lower prices at US$ 16 to US$17 per 1,000 pieces.

Before the pandemic, Hartalega was able to charge U.S. customers a premium due to stricter acceptable quality levels (AQL).

However, this premium plummeted in January 2023 due to intensified regional competition from Malaysia, Thailand, and China.

HLIB Research maintained its earnings forecasts for Hartalega for financial year 2025 (FY25)-FY27 as it believes the expected upcoming weaker Q2FY25 financial performance will be offset by a stronger Q4FY25.

It also maintained “Buy” on the stock with an unchanged target price of RM3.62.

Source: NST

‘Good opportunity to ramp up production’

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MALAYSIA and China are great friends committed to strengthening their partnership and advancing the region’s economic prosperity, said Prime Minister Datuk Seri Anwar Ibrahim.

During a bilateral meeting with Chinese Premier Li Qiang yesterday, Anwar expressed Malaysia’s deep appreciation for China’s support in various areas, including Malaysia’s participation in BRICS.

“I think things are going exceptionally well. We have expanded into all areas, including cooperation in the economy, education, technical and vocational education and training, military understanding and cooperation in protecting our borders.

“We are now two great friends. I look forward to when I assume the chairmanship of Asean. I hope we can work together to strengthen

Asean-China relations and help grow the Asean economy.”

Anwar thanked Li for visiting Malaysia in June to commemorate the 50th anniversary of diplomatic relations between the two countries.

He said since the visit, discussions on several issues and major investments had progressed at an accelerated pace.

“You spent so much time exchanging ideas with the Malaysian business community, the public and academics.

“For weeks, the media will be covering that you can become a threat to the Malaysian prime minister,” Anwar said in jest.

The bilateral meeting was held on the second day of Anwar’s working trip to China. During the 30-minute meeting, the leaders exchanged views on regional and international issues of mutual concern and interest.

Present at the meeting were Foreign Minister Datuk Seri Mohamad Hasan and Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

During the meeting, several memoranda of understanding were exchanged, including one on cooperation between the Malaysian National News Agency and the China Media Group.

Li’s June visit to Malaysia marked a significant step forward in bilateral relations. It was his first visit to Malaysia since taking office in March last year.

Analysts said the visit would elevate the comprehensive strategic relationship between the two nations to new heights.

Earlier in his keynote address at the opening of the 7th China International Import Expo, Anwar said as the world’s fifth largest economy, Asean had the potential to be the driving force behind inclusive socio-economic growth that leads the way to an unprecedented era of sustainable and shared prosperity.

“As you have seen here in China, where it promotes good governance and combating and rooting out corruption, as well as implementing socio-economic and industrial reform agendas, we are also leaving no stone unturned.

“We continue to be inspired by Premier Li Qiang’s extraordinary success in battling poverty, which clearly signifies a major achievement in social re-engineering.”

Anwar said Malaysia aims to enhance regional cooperation and promote an inclusive role based on the regional framework as it assumes the Asean chairmanship next year.

He said Malaysia would embrace the forward-looking and shared future principles that China championed to organise the Asean Summit.

Source: NST

Malaysia, China ties a boon for region

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The Sarawak government is taking strategic steps to develop the digital economy and green energy sectors in the state, said Deputy Premier Datuk Amar Douglas Uggah Embas.

The Universiti Malaysia Sarawak (Unimas) pro-chancellor stated that embracing digitalisation and environmental sustainability are vital to the state

“In this era of digital transformation, the state government has taken strategic steps to boost its digital economy; we see this as a key driver for job creation within the technology and creative sectors.

“It is hoped that Unimas will continue to drive digital research, foster digital literacy, and produce highly skilled graduates who are well-prepared for roles in the technology sector,” he said when speaking at the university’s 28th Convocation Ceremony today.

With Sarawak’s potential to become Malaysia’s hub for renewable energy, particularly in hydrogen and other renewable resources such as hydropower and solar energy, Uggah said that through Unimas’ support in green energy research, the state could position itself as Malaysia’s main supplier of clean hydrogen.

He emphasised the need for not only technical expertise in energy systems but also the wisdom to develop policies that support sustainable energy industries.

“With growing awareness around the impact of climate change, Sarawak is prioritising carbon footprint reduction and environmental protection.

“As part of this commitment, the state is taking decisive measures to conserve forests and natural ecosystems, which are essential in mitigating climate change.

“Through strategic collaboration with Unimas, the government aims to enhance research and awareness programmes centred on environmental conservation and sustainable practices,” he added.

Uggah encouraged graduates to play an active role in Sarawak’s development, urging them to use the knowledge and skills gained to build a brighter future for the state, their families, and generations to come.

A total of 1,073 students graduated during today’s convocation session. Over the three-day event, a total of 3,100 students will graduate from Unimas.

Source: Borneo Post

Uggah: Sarawak advances digital economy, green energy initiatives

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Global agri-commodity company Agrocorp International and Megmilk Snow Brand have partnered to invest in eco-friendly protein production, Agro Snow, in Johor Bahru.

This joint project aims to transform the plant-based food industry through innovative and sustainable production practices.

“By harnessing the power of pulses, such as lentils, chickpeas, and beans, the facility will produce high-quality plant-based protein with a significantly lower carbon footprint and water usage compared to traditional protein sources,” said Malaysian Investment Development AUthority (MIDA) in a joint statement released in conjunction with the groundbreaking ceremony for Agro Snow on Nov 4.

The companies highlighted that pulses, known for their low environmental impact and high nutritional content, will serve as the primary ingredient behind this facility’s eco-friendly production advantages.

Once operational, the factory will become a key supplier of affordable, sustainable protein to food manufacturers across Asia, helping to drive growth in the plant-based food sector and advance the region’s shift toward more sustainable dietary options.

The facility, with an annual production capacity of 6,000 metric tonnes of pulse protein isolates, is scheduled to be completed by the first quarter of 2026 and will employ around 80 local workers, fostering economic growth and job creation.

“This joint venture sets a strong example of how collaboration and innovation can drive positive change, paving the way for a more sustainable food system,” the companies said.

MIDA chief executive officer (CEO) Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said that the Agro Snow facility aligns with the New Industrial Master Plan (NIMP) 2030, enhancing Malaysia’s position in
the alternative protein segment while strengthening its reputation as a premium food ingredients hub.

Sikh Shamsul Ibrahim noted that the facility’s focus on functional foods, health-conscious trends, and halal certification opens new global opportunities.

He said that the incorporation of advanced technology and sustainable processes aligns with goals for safer, more efficient, and eco-friendly production.

This investment represents exactly what we envisioned: a perfect blend of advanced technology, environmental responsibility, and economic growth,” he said.

Agrocorp International CEO Vishal Vijay said, “We hope that the pedigree of our two companies, as well as the competitive advantage we gain from being in Johor, will allow Agro Snow to become a leading supplier of plant-based ingredients to the region.”

Meanwhile, Megmilk Snow Brand managing executive officer Takashi Mori stated that, with rising global demand for sustainable and diverse food sources, plant-based ingredients are becoming a vital solution.

“Leveraging our expertise and quality control from the dairy industry in Japan, we aim to revitalise the global plant-based food market and continue offering new, sustainable options through the production and sales from this project,” he added.

Source: Bernama

Agro Snow set to transform plant-based food industry

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Several industrial firms in China are eyeing investment opportunities in Labuan, particularly within the island’s financial and development sectors.

Minister in the Prime Minister’s Department (Federal Territories) Dr Zaliha Mustafa emphasised the significance of these interests, underscoring Labuan’s potential as a viable economic hub in Asia.

Dr Zaliha said her recent visit to key Chinese cities – Hangzhou, Shanghai, and Shenzhen – was instrumental in building relationships and fostering investor interest.

“During my visit, we engaged with potential investors who are keen to explore business opportunities in Labuan, particularly in financial and development fields,” she told reporters after the Labuan Para SUKMA athlete incentives presentation here tonight.

Dr Zaliha also stressed the importance of sustained engagement with these interested investors to ensure that proposed ventures come to fruition.

“Follow-ups with these parties are crucial to converting these discussions into concrete business investments that will benefit the island,” she said.

In support of Labuan’s growth, Dr Zaliha said Prime Minister Anwar Ibrahim has designated the island as a priority area within the national agenda to address basic amenities and security improvements.

Dr Zaliha said the Finance Ministry (MoF) has committed to providing funds, either directly or through various ministries, to support Labuan’s socio-economic development.

She also provided updates on several task forces set up to advance Labuan’s tourism, transhipment capabilities and connecting Labuan to Sabah via a bridge.

“The tourism task force is not only focused on enhancing Labuan’s tourism offerings but also aims to improve accessibility for tourists and locals alike.

“The transhipment task force is actively progressing, and the bridge linking Labuan to Sabah’s mainland is advancing with the Works Ministry approving a RM500,000 allocation for an initial feasibility study.

“These task forces are fully operational, and several key discussions have already taken place,” Dr Zaliha said.

Source: Bernama

Chinese investors eye opportunities in Labuan – Zaliha Mustafa

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Kenanga Investment Bank Bhd anticipates a rise in demand for cloud services, including graphics processing units-as-a-service pioneered by Maxis Bhd locally, as global cloud service providers continue to invest heavily in data centres, cloud, and artificial intelligence (AI) infrastructure in Malaysia.

In a research note yesterday, the investment bank noted that contrary to perception, the data centre boom is not creating an oversupply situation, and the power supply is not a constraint, as Tenaga Nasional Bhd (TNB) has sufficient capacity to meet demand.

“Thus, we believe players involved in various roles within the cloud industry, such as cloud service providers (CSP), distributors for global CSPs, managed-cloud service providers, software vendors and system integrators, stand to benefit, pointing the spotlight on Telekom Malaysia, Maxis, CelcomDigi, and OCK Group as well as Time, Dagang NeXchange, Vstecs and SNS Network,” it said.

Kenanga Investment Bank recently held a Data Centre and Cloud Day conference featuring spokespersons from YTL Power, Maxis, Telekom Malaysia, and TNB.

Meanwhile, the bank stated that TNB will be a long-term beneficiary, given the expected resilience in electricity demand from data centres.

“YTL Power does not expect delays in AI chip delivery to be delivered on schedule in the first quarter of 2025, while names to watch out for transmission and distribution include Southern Cable Group,” it said.

Kenanga Investment posited that local players involved in various roles within the cloud industry stand to benefit from higher adoption and demand for cloud services.

Additionally, it said these players may further boost earnings and differentiate their offerings by bundling connectivity solutions, including last-mile fibre and private 5G networks, with their integrated cloud offerings.

According to the note, TNB has received over 70 data centre project electricity supply applications in Johor and Klang Valley, with a total maximum demand exceeding 11,000 megawatts (MW).

“As of June 2024, 26 projects have signed energy supply agreements (ESA), with a total maximum demand of 4,000 MW.

“Of these, 16 projects (1,700 MW) have already been completed, and 190 MW of data centre capacity was operational as of June 2024, up from 150 MW in March 2024,” Kenanga said.

The bank said that after accounting for the schedules of expiring independent power producers and new plants coming online, TNB still has sufficient capacity to meet this high demand, assuming all 11,000 MW applications are approved.

Currently, Peninsular Malaysia’s total installed capacity is 27,385 MW, with grid demand at around 18,000 MW.

“On the other hand, TNB guarantees power supply once the ESA is signed.

“It has implemented a fasttracked green lane process for high-voltage (HV) data centre connections, reducing the timeframe to 12 months compared to the typical 36 months for normal HV bulk supply processes,” said the bank.

It said TNB needs to upgrade the transmission and distribution system to accommodate data centre demand.

Sosurce: Borneo Post

Rise in demand for cloud services expected thanks to more data centres

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Malaysia’s assumption of the Asean chairmanship next year will be a catalyst for the country’s adoption of advanced technologies, especially in digitalisation, and make it more appealing to foreign investors.

The CEO of German software company TeamViewer, Oliver Steil, said the company could be interested in investing in Malaysia in the next five years.

“No concrete plans at the moment, but we keep investing in different countries, so I would not be surprised if we build a presence (in Malaysia) over the next five years,” he told Bernama recently.

TeamViewer is known for its remote control software, which claims to connect everything from oil rigs to technology companies and even Formula One teams. Headquartered in the southern German city of Goppingen, the company’s remote control software is traditionally used by information technology support teams.

Steil said that against a backdrop of Malaysia’s push towards digitalisation both domestically and regionally, he sees Malaysia as having huge potential in the digitalisation of the economy.

“There is probably a lot of digitalisation (process and technology) coming to (Malaysia). The economy is strong in Malaysia, and there are some big companies that will drive technological advancements.”

Steil said TeamViewer, as a technology giant, was still focused on its business in Singapore and could serve Malaysia from the country. From a regional perspective, he added, Asean is an interesting growth area in which TeamViewer has put additional focus and investment.

Asean’s push towards digitalisation is amplified by the region’s Digital Economy Framework Agreement.

The agreement’s purpose is to provide an overarching framework for greater clarity on digital elements of Asean’s ongoing and future activities and to support a clearer ownership structure for sectoral bodies of issues and outcomes.

Asean’s digital economy is reportedly estimated to grow from US$300 billion to almost US$1 trillion (RM4.36 trillion) by 2030. The regional bloc is one of the world’s fastest-growing economies, with the International Monetary Fund forecasting its average real gross domestic product growth (GDP) to reach 4.6% in 2023 and 4.7% in 2024.

Concurring with Steil, TeamViewer Asia-Pacific president Sojung Lee said Asean holds huge opportunities for the technology industry as the region’s population of more than 670 million is double that of the United States.

“With an ageing workforce and the need to train the younger population no matter where they are, the only way to do this is by scaling up quickly with technological support. With Malaysia leading Asean via its chairmanship in 2025, it stands well positioned to effect this change.”
Lee said the need to shorten worker training times is a challenge many countries face. She said this is especially vital in Malaysia, where the service industry accounts for 50% of the country’s GDP.

“Therefore, the need for excellent customer service is critical. Integrating technology such as AI and AR into training and providing an immersive customer experience will be crucial for the region to continue to grow,” Lee said.

Source: Bernama

Malaysia’s chairmanship of Asean will catalyse country’s digitalisation, attract foreign investors: TeamViever

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The influx of multinational companies seeking regional headquarters in Kuala Lumpur (KL) is contributing to a more competitive office landscape, according to Knight Frank.

Knight Frank Malaysia executive director of office strategy and solutions Teh Young Khean said the global property consultancy remained positive on the office market outlook, with notable multinational companies expanding and setting up business in Malaysia, especially Kuala Lumpur.

In a statement, Teh attributed the trend to Kuala Lumpur’s competitive real estate costs and welcoming business environment.

“Despite higher vacancy rates among Asia-Pacific region, KL city continues to show steady signs of improved occupancy rate and rental rates of prime grade buildings from quarter-to-quarter (q-o-q),” he said.

The Knight Frank’s Asia-Pacific Prime Office Rental Index for the third quarter of 2024 (3Q 2024) revealed that prime office rents in Asia-Pacific are stabilising, falling 0.1 per cent q-o-q, suggesting a potential bottoming out of the market.

It noted that the trend is supported by growth in the Indian markets, which exhibit strong and sustained demand from offshoring operations and domestic businesses.

According to the report, 16 out of the 23 monitored cities reported stable or increasing rents year-on-year (y-o-y), up from 15 in 2Q 2024, with rents declining 2.5 per cent y-o-y, an improvement from the 2.8 per cent drop observed in 2Q 2024.

Global head of occupier strategy and solutions Tim Armstrong noted that global economic uncertainties have led to more cautious capital expenditure strategies among occupiers, favouring renewals and consolidating office footprints.

“When relocations do occur, companies are opting for smaller, higher-density spaces, aligning with cost mitigation needs and the growing acceptance of hybrid work models.

“While the business sentiment may improve as the United States Federal Reserve eases monetary policy, demand will continue to be tempered by prudent spending and workplace strategies focused on maximising space utilisation,” he said.

However, he said that as the region’s development peak subsides, any significant uptick in leasing activity could rapidly tighten the availability of prime spaces.

He added that the scenario may accelerate the flight-to-quality trend as tenants seek to upgrade their portfolios in a potentially more competitive market.

Source: Bernama

Influx of MNCs boost Kuala Lumpur’s office market competitiveness: Knight Frank

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The government has initiated an administrative review of anti-dumping duties with regard to imports of cold rolled stainless steel in coils, sheets or any other form from China, Indonesia, South Korea, Taiwan, Thailand and Vietnam, said the Ministry of Investment, Trade and Industry (Miti).

The ministry said in a statement that the initiation of the administrative review is based on information received by the government and pursuant to Paragraph 28(1)(c) and (f) of the Countervailing and Anti-Dumping Duties Act 1993 (Act 504), and Regulation 34 of the Countervailing and Anti-Dumping Duties Regulations 1994.

“Interested parties who wish to participate in this administrative review may provide their views in writing and additional supporting evidence to Miti by Nov 15, 2024.

“In the event the interested parties do not provide the necessary information, or the information and views are not received in an adequate form within the specified time limit, the government may make its determination based on the available facts,” it said.

Source: Bernama

MITI initiates administrative review of anti-dumping duty for stainless steel imports

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