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Denmark is deeply committed to supporting Malaysia’s green transition through knowledge, strong public-private partnerships, and investments, said Danish Foreign Minister Lars Løkke Rasmussen.

He said Danish companies are eager to contribute Danish solutions to Malaysia through the newly established Green Transition Alliance, which will be a part of Denmark’s future strategic activities in this country.

“The Alliance aims to support Malaysia’s green transition by bringing together green thought leaders, expertise from Denmark’s green transition journey, and key local stakeholders to explore joint public-private opportunities,” he said during the reception at the official reopening of the Royal Danish Embassy in Malaysia here on Wednesday night.

According to Rasmussen, there is already a strong Danish commercial presence in Malaysia, particularly in the renewable energy, green fuels, energy efficiency, and water and waste management sectors.

The Embassy of Denmark in Kuala Lumpur, in a posting on its Facebook page, said Rasmussen launched the Green Transition Alliance – a partnership to foster even closer cooperation within green transition – during his two-day visit here.

The Alliance will provide a strong platform for Danish companies to showcase solutions that can help fulfil Malaysia’s ambitious goal of carbon neutrality by 2050, the posting added.

Rasmussen noted that Malaysia and Denmark have a longstanding partnership on sustainable development – from the Danida Environment Programmes which started in the 1990s and ran until 2010 – to the current Memorandum of Understanding on Food and Agriculture.

On the reopening of the Royal Danish Embassy here, the Foreign Minister said it demonstrates Denmark’s strong wish to strengthen bilateral ties, seize upcoming opportunities, and build on the great potential of both countries’ growing collaboration.

“Malaysia is too important for us not to be here,” he added.

The Royal Danish Embassy here was closed in 2021 before resuming in August this year.

Between January and October 2024, Malaysia’s total trade with Denmark has increased by 12.9 percent to RM2.19 billion (US$1=RM4.45), compared with the corresponding period in 2023.

As of June 2024, there are more than 100 Danish companies in Malaysia, with investments in the manufacturing sector valued at over RM2.2 billion, creating 5,024 job opportunities, according to Malaysia’s Foreign Ministry.

Source: Bernama

Denmark pledges support for Malaysia’s green transition initiatives

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Sabah’s vision to tap into the billion-ringgit waste-to-wealth industry potentials in oil palm biomass is set for a huge take-off at the POIC Lahad Datu industrial park.

This follows the signing of a sale and purchase agreement for a 19.5-acre land at POIC Lahad Datu for the production of sustainable aviation fuel, biodiesel, and carbon-based products such as carbon black, activated carbon and biochar.

(Carbon black – derived from partially combusting oil palm waste. It is used as pigments and colourants in rubber products, such as tyres.

Activated carbon is used to filter contaminants in air and water. It has also many pharmaceutical applications.

Biochar is made by burning biomass through pyrolysis. It is mainly used in agriculture to restore soil health, raise yield, remediating polluted soil.)

Sabah-based Legenda Biomass Sdn Bhd, which has a sister company operating a waste management and recovery operations at POIC Lahad Datu, seeks to invest RM400 million leading to a comprehensive utilisation of the estimated 20 million metric tonnes of biomass generated mainly by about 124 oil palm mills spread all over Sabah.

From oil palm plantations to oil palm processing mills, the industry is known for producing biomass in the form of trunks (when old trees are fell for replanting, fronds (cut in the process of harvesting oil palm fruits), empty fruit bunches (EFB), when fresh fruit bunches (FFBs) are stripped of their fruits, mesocarp fibres (waste left after oil is squeezed, and palm kernel shells (PKS) are hard shells left after the oil palm kernels are squeezed off their oil. Mills also produced POME (palm oi mill effluent) which has nutrients, residue oil but emits harmful methane.

Although the potential of oil palm biomass is well-established, its full utilization remains elusive. Palm kernel shells (PKS), with their high combustibility, are being exported for green power generation in Thailand and Japan, and some local mills use PKS for energy. There are also limited applications for empty fruit bunches (EFB) and fibers, as well as power generation through methane capture. However, overall biomass utilization remains relatively low.

Sabah’s adoption of a the Sabah Biomass Policy and the imposition of 7.5% export tax on biomass are expected to have a major bearing on sentiments and direction of the biomass industry going forward.

The development of biomass industry in Sabah has been hampered mainly by supply chain challenges although its economic potentials were recognised since the launch of the National Biomass Policy in 2011.
Legenda Biomass’s latest ventures are expected to catalyse an uptake in port operations at POIC Lahad Datu as most of its products are for the export market. POIC Lahad Datu is serviced by a container terminal, a liquid bulk terminal, dry bulk terminal and a barge berth.

“Aside from taking today’s signing as a statement of confidence in POIC Lahad Datu, we see Legenda’s investment in biomass utilisation as a potential game-changer because it represents a major pivot in oil palm value chain in Sabah,” said Datuk Fredian Gan, the Group CEO of POIC Sabah Sdn Bhd who signed the sales and purchase agreement on behalf of the state-owned company, POIC yesterday.

Datuk Tan Pek Chian, the Managing Director of Legenda Biomass, signed on behalf of his company.
The signing held at the POIC Sabah office here was witnessed by POIC Sabah chairman Datuk Seri Panglima Yong Teck Lee and members of the Board.

“Today marks a significant milestone for POIC, as several key agreements are being signed, paving the way for exciting developments ahead,” said Yong.

Tan whose Bumimas business group has waste management-related operations in Kota Kinabalu, Labuan and Lahad Datu, stressed his company’s desire to see wider compliance of the environmental, social and governance (ESG) concept.

“We hope that our biomass centre at POIC Lahad Datu will provide a one-stop solution for biomass downstream processing, and hopefully our entry will attract more investment to POIC Lahad Datu,” he said.

Source: Borneo Post

Sabah`s biomass industry set for major take-off

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NCT Group has formed a partnership with the Malaysia Enterprises Investment Association to draw investments and collaborations to accelerate growth of its smart industrial park in Selangor.

The partnership is centred on advancing the NCT Smart Industrial Park (NSIP), positioning it as a global industrial hub by attracting foreign direct investment (FDI) and fostering innovation.

With a specific focus on collaboration with stakeholders from China’s Guangdong province, the partnership includes investor relations programmes, targeted marketing campaigns, knowledge-sharing initiatives and business development opportunities with key cities such as Foshan and Guangzhou.

NCT Group founder and executive director Datuk Joe Yap Fook Choy said the collaboration with MEIA is instrumental to the development of NSIP.

“MEIA’s expertise in fostering trade and investment partnerships, particularly with stakeholders in China, strengthens NSIP’s position as a global industrial hub.”

“By streamlining business establishment processes and aligning with regional development plans, NSIP is fully equipped to attract foreign investors and encourage sustainable FDI into Malaysia.”

MEIA chairman Million Lo Wei Hong said it aim to position NSIP as a model for industrial excellence that attracts investments and fosters economic progress on a global scale.

Lo underscored the importance of leveraging advanced technologies such as IoT and AI to ensure operational efficiency and sustainability within NSIP.

Situated within the Integrated Development Region in South Selangor, NSIP is a trailblazing industrial park combining advanced technologies and sustainable practices with the aim to achieve net-zero carbon emissions by 2050.

Speaking at the signing, Selangor executive council for investment, trade and mobility Ng Sze Han reiterated the state government’s commitment to fostering partnerships that drive industrial progress.

Initiatives like NSIP, he said, is key in generating economic opportunities and enhancing Selangor’s reputation as a center for innovation and global trade.

Source: NST

NCT Group, MEIA to attract investments, collaborations to smart industrial park

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Malaysia is strategically positioned as it hosts a significant presence of global solar panel producers and benefits from abundant sunshine, said Deputy Investment, Trade and Industry Minister Liew Chin Tong.

He said Malaysia needs to enhance its capabilities in battery storage to complement its solar energy initiatives.

However, he noted that few countries outside the United States (US), China and Europe possess a well established solar panel supply chain.

Solar panel manufacturers in Malaysia previously concentrated primarily on the US market.

“But it is now time to use their Malaysian capacity to deliver green transition in Malaysia and Southeast Asia at an affordable rate.

“Malaysia should use the sweet spot we are in, such as the manufacturing capacity and the sunshine, to speed up on popularising the adoption of household solar solutions, hastening the pace of green transition,” he said at the launch of Senheng Electric (KL) Sdn Bhd’s solar solutions today.

Additionally, Liew hoped Malaysia will soon adopt a ‘popularising the green transition’ mentality so that the masses or the ordinary people would adopt solar solutions and many other green technologies.

“There is so much we could do to change through the adoption of green technologies,” he said.

Meanwhile, he said climate change is not going to go away and it will remain a major challenge the world will have to grapple with in the decades to come.

The government has stated Malaysia’s net zero commitment from “as early as 2050” to “reaching net zero by 2050”. It is a significant pledge, he said

“One of the key documents guiding the current government is the National Energy Transition Roadmap (NETR), which aspires to align capital, finances and green transition,” he added.

Source: Bernama

Malaysia positioned as key player in solar panel production – Liew

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Malaysia remains committed to increasing productivity, increasing national income and making Malaysia a more attractive destination for high-value investments.

The Budget 2025, presented on October 18 by Datuk Seri Anwar Ibrahim, focuses on advancing Ekonomi Madani through reforms, reducing bureaucracy, and addressing rising living cost.

It primarily supports key initiatives including the New Industrial Master Plan (NIMP), National Energy Transition Roadmap (NETR), and Bumiputera Economic Transformation Plan.

Fiscal policies will align with the Public Financial Management and Fiscal Responsibility Act, alongside targeted subsidy reforms. Governance improvement will be guided by the National Anti-Corruption Strategy and streamlined processes.

The Budget 2025 supply bill is built on the Ekonomi MADANI framework, focusing on reinvigorating the economy; driving reforms; and prospering the rakyat.

The government aims to drive sustainable growth and innovation with strategic investments and targeted policies.

This includes promoting green technology, energy efficiency, and supporting SMEs and mid sized companies.

The team with Public Investment Bank Bhd (PublicInvest Research) said in spite of a gradual reduction in fiscal deficit, the government continues to maintain an expansionary budget with the highest ever announced for 2025 at RM421 billion.

This covers RM335 billion operating expenses and RM86 billion development spending.

In addition, public-private joint ventures worth RM9 billion as well as domestic direct investment by GLIC companies worth RM25bn would bring the total development expenditure to RM120 billion in 2025.

The government will continue its fiscal reform agenda to broaden its revenue base as the share of tax collection in GDP remains the lowest in the region at 12.6 per cent versus the average of 14.6 per cent in 2023.

Hence, Budget 2025 would entail progressive expansion of tax revenue and targeting of subsidies only to the majority of people in need.

The government will stimulate growth through PPPs by prioritising strategic infrastructure projects such as the Johor-Singapore RTS Link, the expansion of Kulim Hi-Tech Park and other state specific developments such as the Integrated Green Industrial Park in Perak.

These projects will improve connectivity and increase Malaysia’s attractiveness as an investment hub.

Exports and trade facilitation

To increase the country’s income, Malaysia’s export facilitation will focus on enhancing the competitiveness of its industries.

Strategic export hubs will expand to include semiconductors, pharmaceuticals and green technology, leveraging Malaysia’s strengths in these sectors. Efforts will be directed towards streamlining the approval process and reducing bureaucratic inefficiencies.

PublicInvest Research noted that a total of RM40 billion has been allocated to the economic sector in 2025, aimed at enhancing national competitiveness by improving infrastructure and supporting investment.

“Key subsectors receiving the largest allocations include transport, environment, and trade and industry,” it said in its analysis.

“The transport subsector, receiving RM17.6 billion, focuses on enhancing connectivity in rural areas and alleviating congestion in more developed regions.

“Notable projects include the construction of a bridge and road from Ng Belawai to Song-Kapit in Sarawak, and an additional lane for the PLUS Highway (Phase 3: Simpang Renggam-Machap) in Johor.

“Ongoing projects include the Pan Borneo Highway Sabah and the Sabah-Sarawak Ring Roads.”

To drive future industrial growth and support Malaysia’s sustainable energy transition, RM3.1 billion will be allocated to the trade and industry subsector, with RM200 million for the NIMP 2030 and RM306 million for the National Energy Transition Roadmap (NETR).

Digital infrastructure

Malaysia will continue to advance its digital infrastructure through the implementation of 5G technology by Digital Nasional Berhad (DNB).

This second 5G network is expected to drive competitiveness in the ICT sector, create new opportunities for high-income jobs, attract advanced technology investments and drive the adoption of 5G in line with Malaysia’s aspirations as the ASEAN Chair 2025.

Analyst Jeffrey Tan from RHB Investment Bank Bhd (RHB Research) noted that improvement in Malaysia’s broadband connectivity remains a key thrust with continued allocations for rural areas, schools, and public universities under the Point of Presence (PoP) projects.

“These projects aim to close the digital gap in rural areas by using schools as a hub for the provision of fibre broadband infrastructure – hence, enabling schools, government premises, and surrounding housing areas to have access to fibre broadband services,” he said.

Funded by the Communications Ministry, Phase 1 of these PoP projects – which involved an allocation of RM673 million for 677 locations nationwide – have been largely completed.

Meanwhile, Phase 2 at RM3.9 billion – which commenced in Dec 2022 and involves 3,693 sites – is ongoing with target completion of end 2025.

“The PoP projects will see a further allocation of RM800 million under Budget 2025, with a RM100 million allocation under a new fibre broadband infrastructure connectivity programme for schools in villages and rural areas.”

Meanwhile, several initiatives in green technology and renewable energy continue to be introduced to increase the country’s productivity. Malacca Securities Sdn Bhd (Malacca Securities) noted that the facilitation fund for the NETR will be raised from RM100 million to RM300 million.

A total of RM100 million was allocated for solar and hydrogen energy projects in Terengganu. Budget 2025 also introduced carbon tax, affecting iron and steel and energy in Malaysia by the year 2026 aims to encourage the use of low carbon technology.

“We are positive for the solar and electronic vehicles segment as green energy policies are extended,” Malacca Securities said.

Improving energy security

To support productivity, the government will focus on energy security, ensuring reliable and affordable energy supply, and investments in sustainable energy projects.

PublicInvest Research analyst Khairul Fahmi saw that generally, Budget 2025 is fine tuning the implementation of the NETR to achieve Net Zero aspiration in 2050.

About more than RM300 million under the budget is allocated for the National Energy Transition Facility fund as compared with RM100 million in 2024.

The budget highlighted two projects that have entered implementation phase, which are the Kenyir Hybrid Hydro Floating Solar farm to power up 1000MW to the grid (half of the capacity to be used for the first green hydrogen hub project in Terengganu) and the 2,000MW Large Solar Scale, which is is currently in bidding stage until December 2024.

Meanwhile, five initiatives have been introduced to enhance renewable energy (RE) accessibility.

They include the extension of Net-Energy-Metering (NEM) scheme until 30 June 2025 (from the current 31 December 2024) to encourage household rooftop solar; and the the continuation of Green Technology Financing Scheme (GTFS) amounted to RM1.0bn for the period until 31 December 2026.

Also, UEM Lestra and TNB to invest RM16bn to increase transmission and distribution network capacity and decarbonisation within industrial areas.

An initiative will enable corporations to access renewable energy from selected independent power producers (IPP) via Third Party Access (TPA) i.e Corporate Renewable Energy Scheme (CRESS) Programme.

Budget 2025 also introduced a special programme to focus on dual function RE design concepts such as agrivoltaic to reduce negative impact of RE power plants on food production.

Ssource: Borneo Post

Malaysia committed to attracting high value investments

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Penang has attracted patients from across the globe, particularly from Indonesia, Singapore and China as the state has emerged as a leading hub for medical tourism in Southest Asia over the last 10 years.

Chief Minister Chow Kon Yeow said it is because Penang is renowned for its world-class healthcare facilities, skilled medical professionals and competitive pricing besides offering a blend of high-quality medical care and the allure of vibrant tourist destinations.

“It’s attracting patients from across the globe and the numbers are growing exponentially. Over the years, this has triggered ripple effect in both incoming foreign direct investment (FDI) and (DDI) for the MedTech sector in Penang.

“As a result, we have seen rapid growth of a new industrial cluster,” he said in the Penang Adventist Hospital 100th Anniversary Celebration here on Thursday night.

Chow pointed out that Penang Adventist Hospital’s reputation, particularly in specialised treatments and surgical procedures, has helped position the state as one of the leading medical service providers in the region.

Meanwhile, the Adventist College of Nursing and Health Sciences has created opportunities for youth, contributing to Penang’s talent pool while ensuring the healthcare sector remains competitive, he said.

Penang generates 45% of Malaysia’s revenue in the medical tourism sector and is the number one in the sector.

Source: Bernama

Penang has emerged as leading hub for medical tourism in Southeast Asia — Chow

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Malaysia has experienced a transformative shift in its technology (tech) landscape this year marked by historic investments, visionary initiatives, and forward-thinking policies that are reshaping the nation’s digital and tech ecosystem.

Malaysia has emerged as a regional leader in the digital economy, attracting global attention and reaffirming investor confidence in its potential.

In a landmark year, global technology powerhouses including Amazon Web Services (AWS), Google, and Microsoft committed or expanded investments amounting to a staggering US$16.9 billion (RM74.80 billion), further cementing Malaysia’s position as a prime destination for tech-driven growth.

Unprecedented Investments in Malaysia’s Tech Ecosystem

AWS has announced its commitment of US$6.2 billion (RM29.2 billion) to establish the AWS Asia Pacific (Malaysia) Region as part of its long-term commitment until 2038.

This investment is expected to contribute US$12.1 billion (RM57.3 billion) to Malaysia’s gross domestic product (GDP) by 2038 and create 3,500 full-time jobs annually.

This follows several other investments announced since December 2023 by global tech leaders such as Nvidia, Google, Microsoft, Infineon and many more.

Among others, Microsoft announced an investment of US$2.2 billion (RM10.5 billion) in the country’s cloud and artificial intelligence (AI) segment over the next four years.

Its chief executive officer Satya Nadella said Malaysia is a rapidly growing market on GitHub, the Microsoft-owned software development, collaboration and innovation platform, with almost 680,000 of the nation’s developers using GitHub in 2023, representing 28 per cent year-on-year growth.

Four weeks after Microsoft announced its investment in Malaysia, the tech giant Google is also set to invest US$2 billion (RM9.4 billion), including the development of its first Google data centre and Google Cloud region to meet the growing demand for cloud services locally and around the world, and Al literacy programmes for students and educators.

Its investment is estimated to support more than US$3.2 billion (RM15.04 billion) in positive economic impact and 26,500 jobs by 2030, with the data centre powering its popular digital services, such as Search, Maps, and Workspace, which are used daily by billions of people and organisations worldwide, including in Malaysia.

Additionally, the United States-based Enovix Corporation, which inaugurated its first high-volume battery manufacturing facility (Fab2) in Malaysia on Aug 8, plans to invest a total of US$1.2 billion (RM5.8 billion) in Malaysia over the next 15 years.

Collectively, proposed investments from US tech firms, including Google, AWS, Microsoft, and Enovix Corp, amounted to US$14.7 billion (RM63.02 billion).

At the recent APEC CEO Summit in Peru, Google and Microsoft commended Malaysia’s efforts in developing its AI infrastructure and roadmap.

Google vice-president of government affairs and public policy Karan Bhatia highlighted that Malaysia’s strategic approach to AI infrastructure was a key factor behind Google’s decision to invest in a data centre in the country

Similarly, Microsoft vice-president of data and AI Zia Mansoor lauded Malaysia’s progress, particularly in creating the national artificial intelligence roadmap.

Record-breaking Digital Investment Milestones

Malaysia’s digital economy is poised to reach US$31 billion (RM138.4 billion) in gross merchandise value in 2024, an increase of 16 per cent from 2023.

In the first half of 2024, the Malaysia Digital initiative, led by the Malaysia Digital Economy Corporation (MDEC), achieved unprecedented success.

Approved digital investments reached RM66.22 billion, surpassing the total recorded in the financial year of 2023, created 25,498 high-skilled jobs and generated RM1.94 billion in export opportunities, representing a 43 per cent increase from the previous year.

As for digital export, as of June 2024, MDEC’s partnerships and business matching programmes have garnered export opportunities worth more than RM1.94 billion, involving 228 companies in 11 countries.

This is an increase of over 43 per cent from the export opportunities value for the first half of 2023 (RM1.35 billion).

Major Frameworks Developments On Jan 2, the government launched the Central Database Hub (PADU) as a part of the effort towards “govtech” (government tech) via the provision of a safe, comprehensive, and “near real-time” national main database, allowing the production of more accurate data analytics.

Meanwhile, on May 28, Prime Minister Datuk Seri Anwar Ibrahim unveiled the National Semiconductor Strategy to realise the country’s aspiration to become a major global player in technology powered by the semiconductor industry.

Under the strategy, Malaysia is set to woo at least RM500 billion of investments during the plan’s first phase. In addition, the National Cloud Policy is expected to fuel economic expansion by enabling businesses, strengthening user trust and data security, and empowering citizens through digital inclusivity.

The government also aims to position Malaysia as a hub for generative AI.

Thus, AI and investments from tech partners will be critical in building a robust and secure digital infrastructure.

Looking ahead, the MADANI government has proposed an allocation of RM10 million for the National AI Office and an increase in research and development funding to RM600 million under Budget 2025.

Additionally, RM50 million has been earmarked to enhance AI-related education at research universities, while RM20 million will go to Universiti Teknologi Mara to train more electrical and electronics engineers.

These initiatives underscore the government’s commitment to strengthening participation in critical growth sectors like the semiconductor sector.

With Malaysia continuing to attract significant investments, the Ministry of Digital remains confident that the digital economy will achieve, or even surpass, its target of contributing 25.5 per cent to Malaysia’s GDP by the end of 2025.

Source: Bernama

Malaysia’s tech sector powered up with unprecedented investments in 2024

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Malaysia is well-positioned to establish itself as a regional leader in the development and production of Sustainable Aviation Fuel (SAF), supported by government initiatives and ongoing policy enhancements, according to the International Air Transport Association (IATA).

The association’s director for energy transition Hemant Mistry said Malaysia’s push toward SAF is part of its broader ambition to achieve net-zero carbon emissions by 2050, led by the Climate Change Action Council.

“The government’s plans under the National Energy Transition Roadmap (NETR), aimed to accelerate energy transformation and create a high-value green economy, is a key step to accelerating SAF production.

“To develop the SAF ecosystem further, the recent publication of the Malaysia Aviation Decarbonisation Blueprint (MADB) outlines a whole-of-government and whole-of-society approach to work together to do what is needed in addressing climate action,” he told Bernama on the sidelines of IATA Global Media Day 2024, here on Wednesday.

These measures are an innovative and essential element to start a new ecosystem, Mistry added.

Additionally, the Ministry of Plantation and Commodities has also signalled its commitment to boosting SAF production through ongoing discussions about tax incentives.

These measures are expected to attract foreign investment and establish Malaysia as a hub for SAF production in the region, said Mistry.

“The introduction of targeted incentives and the formalisation of policies to support the transition from renewable diesel to SAF at existing facilities are crucial steps.

“This will not only enhance current production but also attract private sector investment to harness the region’s sustainable feedstock potential,” he said.

It was reported that Plantation and Commodities Ministry is collaborating with the Ministry of Investment, Trade and Industry (MITI) to develop a document on a national strategy for SAF to support Malaysia’s SAF production and consumption industries.

As the world’s second-largest palm oil producer, Malaysia is in a strategic position to become a leading global SAF producer, said KPK minister Datuk Seri Johari Abdul Ghani.

He said this aligns with the MADB and supports the nation’s goal of becoming Southeast Asia’s leading SAF producer.

Meanwhile, Petronas is set to establish Malaysia’s first SAF production facility by 2028, marking a major step forward in meeting the rising demand for SAF within the region.

Source: Bernama

IATA: Malaysia poised to become regional leader in sustainable aviation fuel development

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South Korean engineering firm Samsung E&A said on Thursday that it has been awarded a contract to build a refinery in Malaysia to produce sustainable aviation fuel (SAF) and other biofuels.

The contract from Italian oil supermajor Eni SpA on behalf of a joint venture with Malaysia’s Petroliam Nasional Bhd (Petronas) and Japan’s Euglena Co Ltd, is valued at US$955 million (RM4.43 billion), Samsung E&A said in a statement. The contract is expected to be signed by the end of January 2025.

The engineering, procurement, construction and commissioning (EPCC) contract’s completion date was not specified, though the Euglena has previously said the biorefinery is expected to be operational by the second half of 2028.

The EPCC contract follows a final investment decision made by Petronas and its partners to develop the project, which is worth over RM6 billion. Petronas and Eni will each initially hold a 47.5% stake in the joint venture, while Euglena will start with 5%, with the option to raise its stake to 15%.

This biorefinery will be located within the Pengerang Integrated Complex in Johor, and upon completion, handle up to about 650,000 tonnes per year of raw materials to produce SAF, hydrogenated vegetable oil, and bio-naphtha.

The planned feedstock will comprise used vegetable oils, animal fats, waste from the processing of vegetable oils, and other biomass, including microalgae oils, which will be explored in the mid-term.

The project comes at a time when major economies are mandating the adoption of SAF.

The European Union (EU) will require at least 2% SAF blends in aviation fuel at the region’s airports from next year onwards, while Singapore will introduce a 1% or higher SAF requirement by 2026. South Korea also plans to introduce mandatory SAF blending from 2027.

Source: The Edge Malaysia

Samsung E&A to build biofuel refinery in Johor worth over RM6b

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TMK Chemical Bhd is doubling down on its core business with strategic acquisition plans and the construction of a new plant to meet growing market demand.

Non-independent executive director and deputy chairman Leong Chao Seong revealed that the company is in the early stages of evaluating acquisition targets closely aligned with its existing operations.

“We are not looking to diversify but rather to integrate further within our industry,” he said at a press conference following TMK’s listing on Bursa Malaysia’s Main Market today.

While specifics of the acquisition targets remain under wraps, it has been confirmed that the company’s focus is on bolstering its existing strengths rather than entering new markets.

In addition to the potential acquisition, Leong said, the company is progressing with the construction of a plant slated for completion by 2026.

“Once operational, the new plant will double the current production capacity to 352,254 tonnes of chlor-alkali derivatives, which has already reached the rate disclosed in the prospectus. The plant expansion reflects our commitment to meeting growing market demand and maintaining our competitive edge.”

Leong said the company remains bullish on its growth prospects, citing Malaysia’s robust economic recovery and increased foreign direct investment (FDI) as key drivers. “We see a strong manufacturing rebound over the next two years, supported by new factory developments and industrial activity,” he added.

While remaining optimistic, Leong said, the company acknowledges challenges, particularly in scaling operations beyond its existing markets in Malaysia, Singapore and Vietnam. “Expansion into Indonesia is on the radar, though it will proceed cautiously.”

Leong highlighted Malaysia’s strategic advantage amid global shifts such as the China-Plus-One strategy, noting strong demand for industrial land. “We are seeing real demand with industrial land prices climbing significantly. This reflects investor confidence in Malaysia as a manufacturing hub,” he said.

TMK Chemical shares made a commendable debut on Bursa Malaysia, opening at RM1.97, a 12.6% premium over the initial public offering (IPO) price of RM1.75. The opening price valued the chemical trading and storage company at RM2 billion. The shares closed at RM1.92 on volume of 47.49 million units.

The IPO attracted significant interest, with the public portion oversubscribed by over 14 times. Institutional investors also fully subscribed to the offering, underscoring confidence in the company’s growth potential. The IPO raised RM385 million in fresh capital.

Source: The Sun

TMK Chemical evaluating acquisition targets, proceeding with capacity expansion

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The country’s policy consistency and adaptability have encouraged investors to implement longer-term commitments while equipping the nation with the capacity to navigate evolving global challenges effectively, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He said Malaysia’s commendable performance in securing RM254.7 billion in approved investments during the first nine months of 2024 is a testament to investors’ unwavering confidence in our economic policies and direction.

“This 10.7 per cent year-on-year growth and the creation of over 159,000 jobs speak volumes of Malaysia’s strategic frameworks and our concerted efforts to attract high-impact investments for sustainable growth,” he said in a post on his official X account today.

Tengku Zafrul noted that as the nation progresses towards becoming one of the top 30 global economies by 2033, the MADANI government is steadfast in its commitment to fostering an environment where both domestic and international investors can thrive.

“Our focus extends beyond achieving investment targets; we are laying the foundation for a sustainable and inclusive economy that will empower all Malaysians,” he added.

Source: Bernama

Malaysia’s policy consistency, adaptability attract long-term investment commitments – Tengku Zafrul

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Prime Minister Datuk Seri Anwar Ibrahim stressed on Thursday that building a strong digital ecosystem through the establishment of the National Artificial Intelligence Office (NAIO) is a must in a bid to elevate Malaysia to a high-income nation status.

Speaking at the NAIO launch on Thursday, Anwar said this is because the status of a high-income nation can only be achieved if driven by digital use.

“Some 20, 30 years ago, when I helmed the Ministry of Finance, these things were only considered an initiative, a beginning, but it has now become a must that is called empowerment.

“That is why I once again emphasise why we (Malaysia) are among the first few countries in the world to have a Digital Ministry, because this will determine the success of our country,” he said.

Anwar also described the establishment of the NAIO as a historic moment, and a testament to the country’s determination and commitment to implement digital transformation, thus driving Malaysia to the level of an innovative country.

Anwar, however, said the effort should start with increasing digital literacy among all segments of society, starting from basic education, universities and the public service.

He said that early digital exposure can bring a paradigm shift to national management and avoid bureaucracy, especially in the public service.

“Of course, we accept the fact that the old ways and methods of doing work must undergo a transition or paradigm shift, which requires approach and systemic change.

“We cannot, for example, aspire to make Malaysia a digital country but be bound by the old, outdated framework of thought; what more, if we want to involve, for example, large companies.

“This is because large companies will not bring good to the country, if they do not integrate with civil servants, SMEs (small and medium enterprises) and MSMEs (micro, small and medium enterprises), which must also be encouraged (to go digital), so as to provide and implement innovative solutions that require them to bring about change,” he said.

Meanwhile, the prime minister also expressed hope that 50,000 students can be trained in the field of AI, programming and data analysis, through the MyMahir platform by the end of 2025.

He said that training the capabilities of local children is important in shaping the country’s AI values and ethics, based on the true Malaysian identity.

“That is why we must train local children to provide input (in the programming and data analysis), so that whatever is generated by AI will also include our input, not just based on the input from the West, or the East, or any other systems, but something specific from us,” he said.

Source: Bernama

PM: Strong digital ecosystem via National AI Office will help Malaysia become high-income nation

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Solarvest Holdings Bhd is partnering with Singapore-based renewable energy (RE) company, Vista Contracting and Investment Global Pte Ltd, to jointly develop rooftop and utility-scale solar projects in Malaysia, Brunei, Taiwan and Cambodia.

In an exchange filing on Thursday, Solarvest said it has entered into a Memorandum of Understanding (MOU) with Vista for the collaborations, which is effective for at least two years.

Vista is principally involved in the investment and development of RE projects, with a specific focus on rooftop and utility-scale solar power systems, according to Solarvest. The company specialises in the promotion, implementation and management of solar energy solutions.

“The parties [Solarvest and Vista] desire to combine their expertise and experience to ensure commercial and strategic advantages,” it said.

Currently, the MOU is not expected to have any material impact on Solarvest’s earnings for the financial year ending March 31, 2025.

“Upon the successful implementation and fulfilment of the proposed collaboration, it is expected that the proposed collaboration will contribute positively to the future financial performance of Solarvest,” it added.

Shares in Solarvest closed one sen or 0.61% lower at RM1.62 on Thursday, with a market capitalisation of RM1.17 billion.

Source: The Edge Malaysia

Solarvest partners Singapore RE firm to develop rooftop solar projects for Asian markets

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A total of 25 companies from Malaysia have sent letters of intent to invest in Indonesia’s Nusantara Capital City (IKN) so far, says Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Of that, he said two companies have passed the final evaluation stage, with investment potential of RM7.79bil and RM10.47bil, respectively.

“Proposed activities or industries (for investment in IKN) include energy, urban development, manufacturing, infrastructure, waste management solid and consulting services.

“The involvement of companies from Malaysia in the development of IKN is expected to boost bilateral trade and investment relations between Malaysia and Indonesia,” he said.

Source: Bernama

Local firms keen to invest in Nusantara

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According to the Malaysian Investment and Development Authority (MIDA), 11 companies have expressed interested in setting up operations in Forest City’s Special Financial Zone (SFZ) as of November. Of which, eight have expressed their interest to set up family offices — four of whom hail from Malaysia, while the others are from Singapore, Indonesia and Taiwan, says Lee Ting Han, Johor state EXCO member for investment, trade, consumer affairs & human resources at a media doorstop on Dec 11.

Under the newly announced SFZ, several incentives have been announced. These include a 0% corporate tax rate for family offices, a 0% to 5% corporate tax rate and a 15% flat income tax rate for knowledge workers. Lee says that as at December, the Malaysian ministry of finance is working on making the incentive packages legally binding, which is scheduled to be in place by 1Q2025.

Forest City isn’t the only area that is attracting investments. In July, The Edge Singapore reported that data centres with capacity of 1GW are being built in Johor. DC Byte reports that capacity is now at 1.5GW.

Bernama says 10 data centres had begun operations as of October this year, while seven were in the process of development in Johor.

Gregory Seow, Singapore head of global banking, and global head of financial institutions group, group global banking, Maybank, says: “We’ve spoken to many clients and they have discussed some pain points.”

Infrastructure, security, ease of clearing customers, harmony of both currencies ease of payment and free movement of capital were some of the pain points discussed by Seow with his clients. “Forest City is supposed to be the administrative headquarters, and the authorities are proposing a financial hub. But connectivity is required,” Seow observes. Some projects require just Johor state’s approval, some may need federal approval. “That complicates the issue. I hope they have navigated those issues back in April. Prime Minister Anwar also demonstrated his support. Banks like ourselves want to be the go-to bank,” Seow says.

One of the projects that requires federal approval is Johor’s Autonomous Rapid Transit (ATS) system which is required to link commuters from the Johor-Singapore Rapid Transit System (RTS) that is operational from end-2026.

“More importantly, our Singapore-based clients have signalled interest. Last month, I had a chairman-level lunch with a very established conglomerate in Hong Kong. They signalled their interest in obtaining a piece of land [in Johor] and getting contracts. The Chinese companies are debating whether they should go to the Eastern Economic Corridor (EEC) in Thailand, or here,” Seow says. “Hopefully we are not let down by the political agenda.”

Source: The Edge CEO Morning Brief

MIDA: Eight Companies Interested to Set Up Family Offices in Forest City

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FEYTECH Holdings Bhd has entered into a joint venture agreement (JVA) with Wuhu Ruitai Auto Parts Co Ltd, a subsidiary of China’s Chery Group, to jointly design, manufacture, and assemble automotive seat components for domestic and international markets.

A new entity, JV Co, will be established with Feytech holding a 51% stake and Ruitai 49%.

The joint venture involves an initial investment of RM6 million, followed by an additional RM7.73 million in the second year, funded proportionally.

Feytech will utilise internally generated funds for its share.

Feytech CEO Connie Go emphasized the partnership’s alignment with Malaysia’s National Automotive Policy, which aims to foster technology transfer, create high-value jobs, and boost exports.

The collaboration positions Malaysia as Chery’s Southeast Asian manufacturing hub, enhancing Feytech’s reach in international markets.

The JV Co will supply complete knock-down components for automotive seats, primarily for Chery Automobile Co Ltd and its affiliates, marking a strategic move to elevate Malaysia’s role in the regional automotive industry.

Source: The Malaysian Reserve

Feytech partners with China’s Ruitai for RM14m automotive seat JV

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The development of a data centre in Bagan Datuk, Perak, slated to commence in the third quarter of 2025, is set to be a game-changer for Malaysia in its bid to be a major player in the global digital economy, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

He said the project, undertaken by MARA Incorporated Sdn Bhd and FELCRA Berhad, is a critical infrastructure that will support modern business operations and create opportunities in sectors such as financial services, e-commerce and high-tech industries.

“The establishment of the Fourth Tier Data Centre in Bagan Datuk will demonstrate that this district has the potential to thrive in the technology sector, on par with metropolitan hubs around the world.

“This world-class facility also has the potential to attract foreign investments, particularly from multinational corporations, further solidifying Malaysia’s position as a regional technology hub,” he said.

Ahmad Zahid said this during the signing of a Memorandum of Agreement (MOA) between MARA Incorporated and FELCRA for the data centre development in Bagan Datuk, held at Sofitel Hotel today.

Ahmad Zahid, who is also the Member of Parliament for Bagan Datuk, highlighted that the strategic location not only suits the requirements of a data centre but could also catalyse economic transformation in nearby rural areas, providing significant economic benefits to local communities.

He noted that this would not be Malaysia’s first data centre project. A few months ago, Prime Minister Datuk Seri Anwar Ibrahim officiated at the groundbreaking ceremony of a RM8.2 billion Google Cloud data centre in Selangor.

According to Ahmad Zahid, this development aligns with an October report by RHB Research predicting that Malaysia could become the largest data centre hub in ASEAN, with inventory expected to reach four gigawatts (GW) within four to five years.

“This development strengthens Malaysia’s position as the fastest-growing data centre location in the region. It not only drives digital economic growth but also serves as a catalyst for the country’s transition to Renewable Energy (RE),” he said.

Ahmad Zahid, who is also the Minister of Rural and Regional Development, added that the project, expected to be completed within 10 years, will generate job opportunities across various fields, including technical, construction and management sectors.

Source: Bernama

Bagan Datuk data centre to be a game-changer for digital economy – Ahmad Zahid

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Prime Minister Datuk Seri Anwar Ibrahim said today Malaysia welcomes investments from Denmark in high-value sectors.

In a Facebook post, he said the investments in green energy, renewable energy, digital economy and healthcare from the country were welcomed by the government.

This followed a visit by Danish Foreign Minister Lars Løkke Rasmussen in Parliament this afternoon.

“I also appreciate the investors from Denmark who have established regional hubs here, especially Maersk and United Plantations,” he said.

Additionally, he said that during the visit, the aspects of bilateral relations and cooperation between the two countries were discussed between him and Rasmussen.

He also welcomed the reopening of the Danish embassy in Kuala Lumpur last August.

Source: NST

Anwar welcomes Danish investments in high-value sectors

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The Ministry of Investment, Trade and Industry (Miti) and the Malaysian Investment Development Authority (Mida) are collaborating with Sirim Bhd to set up a star rating system for industrial parks to ensure that every industrial park in Malaysia meets “acceptable standards”, said Deputy Minister Liew Chin Tong.

Expected to be established next year, Liew said the star rating system would evaluate four key parameters, namely planning and management, infrastructure and business competitiveness, environmental sustainability, as well as social responsibility.

“These measures will ensure that every industrial park in Malaysia meets acceptable standards, and call out those which do not meet the standards.

“Soon, these guidelines will be seamlessly integrated into the MYSite Selection portal, empowering investors with detailed, transparent assessments,” he said at the launch of the portal and the Malaysia Industrial Park Directory here on Wednesday.

Liew was representing Minister Tengku Datuk Seri Zafrul Abdul Aziz on behalf of Miti.

The digital portal developed by Mida is set to revolutionise industrial site selection in Malaysia, where it combines advanced geospatial analytics with comprehensive industrial data, offering investors an unprecedented tool for location decision-making. Users could access real-time information about industrial parks across all Malaysian states, complete with infrastructure details, connectivity options, and sustainability metrics.

In addition to the digital platform, Mida and the Federation of Malaysian Manufacturers (FMM) also launched on Wednesday the Malaysia Industrial Park Directory, a comprehensive directory providing detailed information about industrial parks across the country.

“Malaysia’s ambition is to build a resilient supply chain for various industries, including strategic sectors like semiconductors.

“The MYSite Selection portal and Malaysia Industrial Park Directory would facilitate this journey by allowing investors to swiftly identify areas with the best suitability for their operations, and tap into our robust and mature manufacturing ecosystem,” said Liew.

The portal’s features include intelligent filtering systems for precise location matching, real-time analytics and data visualisation, comprehensive geospatial mapping, and a user-friendly interface for seamless navigation.

Mida chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the portal and directory are not just tools but also catalysts for smarter, faster, and more efficient decision-making in the industrial sector.

Meanwhile, FMM president Tan Sri Soh Thian Lai said the publication of the directory in collaboration with Mida, now in its second edition, would provide manufacturers with a comprehensive guide for identifying optimal locations that align with their strategic needs, while also supporting the establishment of smart factories and other high-value investments.

Soh also said that Malaysian small and medium enterprises need to level up their playing field by collaborating with advanced players like those from China, Japan, South Korea and some European Union to improve their efficiency, productivity, and adoption of the latest technology to reduce their reliance on foreign workers while tapping into international markets.

Source: Bernama

MITI to set up star rating system for industrial parks next year, says Liew

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Malaysia has approved investments totalling RM254.7 billion in the first nine months of 2024, an increase of nearly 11% when compared to the same period last year, a government agency said.

A total of 4,753 new projects have been approved in the period of January-September 2024, Malaysian Investment Development Authority (Mida) said in a statement. The agency said it is still actively pursuing more than 1,400 proposals worth RM62.0 billion, and is in talks for high-potential leads valued at RM70.6 billion.

“We are committed to ensuring these investments translate into tangible economic benefits, quality job opportunities, and long-term prosperity for all Malaysians,” said Mida chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid.

The services sector accounted for the bulk of approved investments at RM160.7 billion, followed by manufacturing at RM88.8 billion, and RM5.2 billion in the primary sector of the economy, a segment that typically covers raw commodity production and extraction, such as mining and plantation.

In terms of states, the approved investments went most into Selangor, followed by Kuala Lumpur, Kedah, Penang and Johor.

Domestic investments accounted for 58% of the approvals, while foreign investments contributed 42%, with the top five sources being from Germany, China, the US, the Netherlands, and Singapore.

“This healthy ratio between robust domestic participation and strong foreign interest forms a solid foundation for Malaysia’s future economic growth and resilience,” Mida noted.

Source: The Edge Malaysia

Malaysia approves RM254.7b in total investments from January-September, MIDA still chasing projects worth RM62b

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The approved investments of RM254.7 billion for the first nine months of 2024 (9M’24), underscore investors’ unwavering confidence in Malaysia’s economic policies and direction, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

In a statement today, Tengku Zafrul said the 10.7% year-on-year growth and the creation of over 159,000 jobs speak volumes of Malaysia’s strategic frameworks and the government’s concerted efforts to attract high-impact investments for sustainable growth.

He added that Malaysia’s policy consistency and adaptability have encouraged investors to implement longer-term commitments while equipping the country with the capacity to navigate evolving global challenges effectively.

“As we progress towards our goal of becoming one of the top 30 global economies by 2033, the Madani Government is steadfast in its commitment to fostering an environment where both domestic and international investors can thrive. Our focus extends beyond achieving investment targets; we are laying the foundation for a sustainable and inclusive economy that will empower all Malaysians,” Tengku Zafrul said.

Malaysian Investment Development Authority (Mida) CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the agency is committed to ensuring these investments translate into tangible economic benefits, quality job opportunities, and long-term prosperity.

He added that Mida has seen a remarkable value of approved investments in the 9M’24, reflecting its strategic commitment to building a thriving, innovation-driven economy.

“The continued growth in domestic investments highlights the strong confidence of local businesses in Malaysia’s robust investment ecosystem. As we approach the end of the year, Miti and Mida’s priority remains focused on enhancing Malaysia’s competitiveness in an ever-evolving global market,“ said Sikh Shamsul Ibrahim.

Domestic investments led the way, accounting for 58.1% of the total approved investments in 9M’24, valued at RM148 billion, while foreign investors contributed RM106.7 billion, or 41.9%.

Mida said domestic businesses rose and displayed commendable resilience despite current challenging times.

“This healthy ratio between robust domestic participation and strong foreign interest forms a solid foundation for Malaysia’s future economic growth and resilience,” it added.

Selangor (RM66.8 billion in approved investments), Kuala Lumpur (RM63.9 billion), Kedah (RM34.0 billion), Penang (RM22.6 billion) and Johor (RM18.1 billion) were the top-performing states.

Germany (RM30.9 billion), China (RM10.8 billion), the United States (RM8.4 billion), the Netherlands (RM4.9 billion) and Singapore (RM4.4 billion) were the top five in foreign investments.

The National Investment Aspirations sectors, comprising electrical and electronics, pharmaceuticals, digital economy, aerospace and chemicals, were the key catalysts for economic transformation. The sectors secured RM119.9 billion involving 882 high-impact projects and are expected to create 55,892 skilled jobs.

Tengku Zafrul said the Madani Government is steadfast in its commitment to fostering an environment where both domestic and international investors can thrive as Malaysia progresses towards becoming a top 30 global economy by 2033.

“Our focus extends beyond achieving investment targets; we are laying the foundation for a sustainable and inclusive economy that will empower all Malaysians,” he added.

The services sector continues to drive Malaysia’s economic growth, with RM160.7 billion in approved investments, or 63.1% of the total approvals. They are expected to create 100,914 new jobs. Domestic investments were instrumental in this growth, contributing RM121.5 billion, or 75.6%.

Foreign investments contributed RM39.2 billion, representing 24.4%.

Top performers were information and communications at RM71.1 billion, real estate RM48.8 billion, support services RM10.3 billion, distributive trade RM8 billion and utilities RM6.8 billion.

The manufacturing sector remains the cornerstone of industrial growth, attracting RM88.8 billion in approved investments in 9M’24 with foreign investments leading the way, contributing RM66.9 billion (75.4%), while domestic investments accounted for RM21.9 billion (24.6%).

Source: Bernama

Nine-month approved investments up 10.7% year-on-year to RM254.7 billion

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Malaysia has approved a total of RM254.7 billion investments in the first nine months of 2024 (9M 2024).

This marks a steady 10.7 per cent increase from RM230.2 billion in the same period last year, according to Malaysian Investment Development Authority (MIDA).

The agency said the strong performance reflects Malaysia’s sustained economic momentum, propelled by the services, manufacturing, and primary sectors.

The services sector led with RM160.7 billion, followed by manufacturing (RM88.8 billion), and primary sectors (RM5.2 billion).

“A total of 4,753 new projects have been approved during this period, set to create 159,347 new jobs for Malaysians. “This strong performance underscores Malaysia’s enduring appeal to investors, despite the threat of global uncertainties,” it said in a statement today.

According to MIDA, the growth in job creation surged 75.9 per cent while project approvals rose 20.7 per cent year-on-year.

It said that domestic investments (DI) accounted for 58.1 per cent (RM148 billion) of total approvals, while foreign investments (FI) contributed 41.9 per cent (RM106.7 billion).

The top-performing states by investment value are Selangor (RM66.8 billion), Kuala Lumpur (RM63.9 billion), Kedah (RM34 billion), Pulau Pinang (RM22.6 billion), and Johor (RM18.1 billion).

The top five foreign investments came from Germany (RM30.9 billion), China (RM10.8 billion), United States (RM8.4 billion), Netherlands (RM4.9 billion) and Singapore (RM4.4 billion).

The National Investment Aspirations (NIA) sector contributed RM119.9 billion, representing 47.1 per cent of total approved investments across various economic sectors.

Investment, Trade and Industry Minister (MITI), Tengku Datuk Seri Zafrul Abdul Aziz said the total approved investment reflects the unwavering confidence investors have in the nation’s economic policies and direction.

He stated that the surge in investments and jobs creation speak volumes domestic strategic frameworks and the concerted efforts to attract high-impact investments for sustainable growth.

“Clearly, Malaysia’s policy consistency and adaptability have encouraged investors to implement longer-term commitments, while equipping us with the capacity to navigate evolving global challenges effectively.”

“Our focus extends beyond achieving investment targets; we are laying the foundation for a sustainable and inclusive economy that will empower all Malaysians,” Tengku Zafrul said.

Source: NST

Malaysia approves RM254.7bil in investments in first 9 months of 2024

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The Malaysian Investment Development Authority (Mida) and the Federation of Malaysian Manufacturers (FMM) have launched MYSite Selection Portal, an innovative digital platform to transform the way industrial sites are chosen in Malaysia.

In addition to this digital platform, Mida and FMM also introduced the Malaysia Industrial Parks Directory, a comprehensive directory providing detailed information on industrial parks across the country.

Deputy Investment, Trade and Industry Minister Liew Chin Tong said Malaysia’s ambition is to build a resilient supply chain for various industries, including strategic sectors such as semiconductors.

“The MYSite Selection Portal and the Malaysia Industrial Parks Directory will facilitate this journey by enabling investors to identify the most suitable locations for their operations and leverage our strong and mature manufacturing ecosystem,” he said during the launch of MYSite and the Malaysia Industrial Parks Directory today.

Liew noted that while Malaysia has successfully attracted global supply chain players, it has done so for its ecosystem rather than the sheer number of industrial parks.

He underscored the necessity of creating resilient, horizontally linked supply chains that integrate domestic industries, ensuring Malaysia’s position as an indispensable middle link in global manufacturing.

“This approach aligns with the global shift from ‘just-in-time’ supply chain strategies to ‘just-in-case’, a move driven by recent geopolitical and pandemic-related disruptions. By embedding supply chain resilience into its industrial parks, Malaysia can attract high-value investments and safeguard its manufacturing future,” Liew said.

In line with these efforts, he said, one of the key paradigm shifts proposed is the development of livable communities within industrial parks.

“We must move from building for foreign workers to creating livable spaces for Malaysian engineers and workers,” he said, highlighting the need to reduce reliance on foreign labour and prevent the outflow of Malaysian talent to neighbouring countries such as Singapore.

With 50% of Malaysians earning less than RM2,600 per month, he stressed that wage growth must be tied to job quality and better living conditions.

“By providing affordable housing near workplaces, industrial parks can help employers offer competitive compensation packages, allowing local talent to thrive without relocating abroad,” Liew said.

Furthermore, he emphasised that industrial parks in Malaysia need to be redesigned boldly to address issues such as wage stagnation and to ensure the sustainability of the nation’s manufacturing ecosystem. “They must evolve beyond mere real estate projects and transform into supply chain integration hubs, livable communities, and places to retain talent.”

As part of efforts to attract high-value investments, Malaysia is developing a star rating system to assess and rank industrial parks nationwide.

“Scheduled for launch in 2025, this initiative aims to provide investors with a clear and transparent evaluation of industrial parks, enabling them to make more informed decisions about where to establish their operations,” Liew said.

The star rating system, currently being finalised by Mida, will consider various criteria, including infrastructure quality, connectivity, sustainability features, and readiness for Industry 4.0 technologies.

“By standardising these evaluations, the government hopes to create healthy competition among industrial parks, driving improvements in facilities and services offered to investors. This rating system will allow industries to identify the most suitable locations for their needs and ensure better alignment with Malaysia’s economic priorities. MIDA is expected to complete this work next year and officially launch it in 2025,” Liew said.

Source: The Sun

MIDA and FMM team up to launch MYSite Selection Portal, Malaysia Industrial Parks Directory

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After missing the chance to achieve high-income nation status twice, Malaysia is on track to achieve it between 2027 and 2029.

Economy Minister Rafizi Ramli said the 13th Malaysia Plan (13MP) would be geared towards ensuring Malaysia achieved the target.

“We missed the opportunity to achieve high-income nation status twice in 2012 and 2016 due to the circumstances then.

“Based on the projections, we were close to achieving high-income nation status.

“Nevertheless, we have done well. If we can keep up the momentum, we can achieve high-income nation status as early as 2027.”

He said this after the Libat Urus Rancangan Malaysia Ketiga Belas programme with the state government at the Setia Spice Convention Centre in Bayan Lepas here.

Present was Chief Minister Chow Kon Yeow.

Elaborating, Rafizi said the threshold for high-income nation changed every two years.

He said for example, the gross national income per capita was US$14,000 in 2022.

“We were not far from the threshold then.

“If we can maintain our economic growth and grow as fast as other nations, then we are on track to achieving high-income nation status.”

Earlier, Rafizi said the 13MP would focus on further developing the artificial intelligence industry.

He said the government needed to see how to build the overall ecosystem.

“Our presence now is in the data centre (sector).

“After this, we need to ensure we build the value chain to encourage local companies to participate.

“The economic opportunity is huge. Our focus is Penang as the state is at the forefront.”

Source: NST

Rafizi: Malaysia on track to achieve high-income status

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According to Lee Ting Han, Johor state EXCO member for investment, trade, consumer affairs & human resources, 11 companies have expressed interested in setting up operations in Forest City’s Special Financial Zone (SFZ) as of November. Of which, eight have expressed their interest to set up family offices — four of whom hail from Malaysia, while the others are from Singapore, Indonesia and Taiwan, says Lee at a media doorstop on Dec 11.

Bernama says 10 data centres had begun operations as of October this year, while seven were in the process of development in Johor.

Infrastructure, security, ease of clearing customers, ease of payment and free movement of capital were some of the pain points discussed by Seow with his clients. “Forest City is supposed to be the administrative headquarters, and the authorities are proposing a financial hub. But connectivity is required,” Seow observes.

Some projects require just Johor state’s approval, some may need federal approval. “That complicates the issue. I hope they have navigated those issues back in April. Prime Minister Anwar also demonstrated his support. Banks like ourselves want to be the go-to bank,” Seow says.

One of the projects that requires federal approval is Johor’s Autonomous Rapid Transit (ART) system which is required to link commuters from the Johor-Singapore Rapid Transit System (RTS) that is operational from end-2026.

In October, Asean and China successfully concluded the negotiations for the Asean-China Free Trade Area (ACFTA) 3.0 upgrade. The upgraded agreement aims to modernise and enhance the existing trade framework by deepening commitments in traditional areas while introducing new domains of collaboration, including the digital economy, green economy, supply chain connectivity, competition and consumer protection, and support for micro, small, and medium enterprises (MSMEs).

OCBC Global Market Research says investment flows from Hong Kong and China into Malaysia are likely to continue in 2025. Investment commitments from China and Hong Kong into Malaysia’s manufacturing sector have been broadly stable over the past few years it indicates. “The initiation of the [JS-SEZ] can catalyse further diversification out of China into the SEZ,” OCBC Global Market Research says.

PM Anwar visited China from Nov 4 to 7 while Malaysian Agong Ibrahim Sultan Iskandar also visited China from Sept 19 to 22. “With US-China trade tensions rising, the risk is that Malaysia is caught between the rock and the hard place. This was implied when Deputy Trade Minister Liew Chin Tong, suggested that Chinese companies avoid using Malaysia as a base to ‘rebadge’ products between the rock and the hard place,” OCBC cautioned.

Source: The Edge Singapore

Forest City manages to attract family offices; Johor continues to attract investments

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