logo
Onn Hafiz: JS-SEZ will anchor Johor's economic expansion and urbanisation

Onn Hafiz: JS-SEZ will anchor Johor's economic expansion and urbanisation

KLUANG: The development of the Johor-Singapore Special Economic Zone (JS-SEZ) is expected to benefit not only areas surrounding Johor Baru but also all 10 districts in the state, said Johor Chief Minister Datuk Onn Hafiz Ghazi.
He said the initiative would lead to the emergence of more satellite towns, ensuring that no district is left behind in terms of infrastructure and progress. In addition to driving economic growth, JS-SEZ would also serve as a catalyst for the tourism sector, positioning Johor as a major destination, he noted.
The state government, he said, would seize the opportunity to promote attractions throughout Johor in conjunction with the upcoming Visit Johor Year.
"Bit by bit, areas surrounding JS-SEZ are beginning to experience the spillover effects of development. For example, the areas of Simpang Renggam and Renggam in Kluang are already seeing its impact. This progress will gradually expand to other districts.
"If Seremban is known as a satellite city to the Klang Valley, we expect Kluang to become one of the main satellite cities as a result of the JS-SEZ development," he said at the launch of the Majestic Johor x Renggam Fiesta at Tunku Mahkota Ismail Youth Centre (TMIYC) Renggam today.
The JS-SEZ covers major development zones such as Iskandar Malaysia, Forest City, the Pengerang Integrated Petroleum Complex, and Desaru, with a total land area of approximately 357,128 hectares.
The Iskandar Malaysia region also includes strategic areas such as Johor Bahru City Centre, Iskandar Puteri, Tanjung Pelepas–Tanjung Bin, Pasir Gudang, Senai–Skudai, and Sedenak.
Further commenting, Onn Hafiz said that rapid development in the transport sector would also support connections between districts and the JS-SEZ, including the Johor Baru–Singapore Rapid Transit System (RTS) Link Project and the Gemas–Johor Baru Double Track Electrified Project.
"All these projects will enhance connectivity between Johor's districts and the key areas within the JS-SEZ, and the development will be carried out in phases," he added. - BERNAMA
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Inflation a key focus in Johor's bid for developed status by 2030, says MB
Inflation a key focus in Johor's bid for developed status by 2030, says MB

The Star

timean hour ago

  • The Star

Inflation a key focus in Johor's bid for developed status by 2030, says MB

JOHOR BARU: Tackling inflation will be a key focus for Johor as the state moves towards achieving developed status by 2030, says Mentri Besar Datuk Onn Hafiz Ghazi. He noted that the cost of living, particularly in Johor Baru, is becoming increasingly expensive for locals compared to other parts of the country. "My main challenge now is addressing inflation in Johor. Thousands of Singaporeans cross the Causeway, especially on weekends, to do their grocery shopping here, and we are seeing food and rental prices going up," he said. "For example, a plate of nasi lemak with fried chicken here is around RM9, while the same dish in Kuala Lumpur costs only RM7. That clearly shows Johor is becoming more expensive." He made these remarks during his speech at the Associated Chinese Chambers of Commerce and Industry of Malaysia's (ACCCIM) 79th annual general meeting at a hotel here on Sunday (July 13). Onn Hafiz emphasized the need for the state government to find effective mechanisms to tackle inflation and ease the financial burden on the people. "Recently, a developer told me that about 300 units of his housing project were sold out completely. This shows that properties here are selling like hotcakes. "But at the same time, property prices in Johor are either rising or already higher than some in Singapore. We need to develop more affordable housing so that locals still have a chance to own a home," he added. Onn Hafiz, who is also the Machap assemblyman, called on the business community to work closely with the state government to tackle these issues. "The reason I am raising this is because I know I cannot do this alone. We must work together to make Johor, and Malaysia as a whole, more prosperous. "We are ready to collaborate with you hand in hand to ensure that this is not a zero-sum game but a win-win situation for everyone, especially the people of Johor," he said.

Brisk ringgit transactions ensure Malaysian currency maintains high global standing
Brisk ringgit transactions ensure Malaysian currency maintains high global standing

New Straits Times

time2 hours ago

  • New Straits Times

Brisk ringgit transactions ensure Malaysian currency maintains high global standing

KUALA LUMPUR: Malaysia's brisk ringgit-denominated transactions will continue to entrench the local currency as among the top 20 currencies globally, a top wealth management company official said today. SPI Asset Management managing partner Stephen Innes said demand for transactions in ringgit would be driven by Malaysia's strong trading linkages, especially with China, Singapore and other Southeast Asian economies. Expanding usage of ringgit for currency settlements, bilateral agreements and portfolio inflows into the domestic bond market and encouraging growth have helped sustain demand for the local note. "This will help to keep the ringgit on the global radar," he told Bernama in an interview today. The ringgit strengthened to as high as 4.1990 against the US dollar on May 5, 2025, appreciating by about 6.2 per cent from the start of the year, marking its strongest level in 2025. To date, the local note was traded at 4.2475/2525 against the greenback. Innes was responding to a report by Seasia Stats, which compiled data from the Society for Worldwide Interbank Financial Telecommunication (SWIFT), that listed the ringgit as among the top 20 most influential currencies globally. Seasia Stats is a social media page and online platform that shares statistics and data visualisations about Southeast Asia. It covers a wide range of topics, including economics, demographics, culture, health and technology. Innes said trade, especially in the high-growth electronics and semiconductor sector, palm oil products as well as energy would stimulate demand for the ringgit. "Malaysia's regional financial integration also plays a significant role in enhancing the ringgit's global presence," he said. "The growing use of local currency settlement mechanisms, supported by bilateral agreements with Indonesia, Thailand and China, has increased the operational footprint of the ringgit in cross-border trade. "On the investment side, despite cyclical volatility -- Malaysia's bond market still attracts portfolio inflows due to its depth and relatively attractive yields," he said. He added that this consistent interest helps sustain demand for the ringgit among global asset allocators. Innes said Bank Negara Malaysia's ongoing efforts to upgrade financial infrastructure and promote digital payment connectivity have improved the ringgit's accessibility and efficiency in international systems. According to Seasia Stats data, the US dollar continued to dominate international transactions with a 49.68 per cent share, followed by the euro (22.24 per cent), British pound (6.51 per cent), and Japanese yen (4.03 per cent). The ringgit, along with the Hungarian forint and Thai baht, rounded out the top 20, each accounting for under 0.3 per cent of global usage. Innes said the ringgit's inclusion may be modest in scale, but it reflects a significant shift in the ringgit's regional relevance. "While its share of global transactions remains under 0.3 per cent, its presence on the list reflects more than just size — it points to Malaysia's strategic position within global trade and financial networks, particularly in the Asia Pacific. "The ringgit may not be a reserve powerhouse, but it's increasingly being used where it counts: in trade settlement, capital flows and regional currency cooperation," he added. Meanwhile, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the government's efforts to improve its fiscal position — which reduced the fiscal deficit to 4.5 per cent of gross domestic product (GDP) in the first quarter of 2025 from 5.7 per cent in the same period last year — have supported the ringgit's performance. Key fiscal measures — including the increase in the sales and service tax (SST) from six per cent to eight per cent on March 1, 2024 and the diesel subsidy rationalisation implemented in June — have helped strengthen government finances. This includes a 30.3 per cent increase in SST collection in the first quarter of 2025 and a reduction in spending on subsidies and social assistance. "On that note, that helped improve the ringgit as foreign investors were seen as net buyers in our bond markets, especially the Malaysian Government Securities (MGS) and Government Investment Issues (GII). He said BNM's foreign exchange reserves also rose from US$115.5 billion in January to US$120 billion at the end of June, further supporting the appreciation of the ringgit.

Brisk ringgit transactions ensure Malaysian currency maintains high global standing
Brisk ringgit transactions ensure Malaysian currency maintains high global standing

Malaysian Reserve

time2 hours ago

  • Malaysian Reserve

Brisk ringgit transactions ensure Malaysian currency maintains high global standing

KUALA LUMPUR — Malaysia's brisk ringgit-denominated transactions will continue to entrench the local currency as among the top 20 currencies globally, a top wealth management company official said today. SPI Asset Management managing partner Stephen Innes said demand for transactions in ringgit would be driven by Malaysia's strong trading linkages, especially with China, Singapore and other Southeast Asian economies. Expanding usage of ringgit for currency settlements, bilateral agreements and portfolio inflows into the domestic bond market and encouraging growth have helped sustain demand for the local note. 'This will help to keep the ringgit on the global radar,' he told Bernama in an interview today. The ringgit strengthened to as high as 4.1990 against the US dollar on May 5, 2025, appreciating by about 6.2 per cent from the start of the year, marking its strongest level in 2025. To date, the local note was traded at 4.2475/2525 against the greenback. Innes was responding to a report by Seasia Stats, which compiled data from the Society for Worldwide Interbank Financial Telecommunication (SWIFT), that listed the ringgit as among the top 20 most influential currencies globally. Seasia Stats is a social media page and online platform that shares statistics and data visualisations about Southeast Asia. It covers a wide range of topics, including economics, demographics, culture, health and technology. Innes said trade, especially in the high-growth electronics and semiconductor sector, palm oil products as well as energy would stimulate demand for the ringgit. 'Malaysia's regional financial integration also plays a significant role in enhancing the ringgit's global presence,' he said. 'The growing use of local currency settlement mechanisms, supported by bilateral agreements with Indonesia, Thailand and China, has increased the operational footprint of the ringgit in cross-border trade. 'On the investment side, despite cyclical volatility — Malaysia's bond market still attracts portfolio inflows due to its depth and relatively attractive yields,' he said. He added that this consistent interest helps sustain demand for the ringgit among global asset allocators. Innes said Bank Negara Malaysia's ongoing efforts to upgrade financial infrastructure and promote digital payment connectivity have improved the ringgit's accessibility and efficiency in international systems. According to Seasia Stats data, the US dollar continued to dominate international transactions with a 49.68 per cent share, followed by the euro (22.24 per cent), British pound (6.51 per cent), and Japanese yen (4.03 per cent). The ringgit, along with the Hungarian forint and Thai baht, rounded out the top 20, each accounting for under 0.3 per cent of global usage. Innes said the ringgit's inclusion may be modest in scale, but it reflects a significant shift in the ringgit's regional relevance. 'While its share of global transactions remains under 0.3 per cent, its presence on the list reflects more than just size — it points to Malaysia's strategic position within global trade and financial networks, particularly in the Asia Pacific. 'The ringgit may not be a reserve powerhouse, but it's increasingly being used where it counts: in trade settlement, capital flows and regional currency cooperation,' he added. Meanwhile, Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said the government's efforts to improve its fiscal position — which reduced the fiscal deficit to 4.5 per cent of gross domestic product (GDP) in the first quarter of 2025 from 5.7 per cent in the same period last year — have supported the ringgit's performance. Key fiscal measures — including the increase in the sales and service tax (SST) from six per cent to eight per cent on March 1, 2024 and the diesel subsidy rationalisation implemented in June — have helped strengthen government finances. This includes a 30.3 per cent increase in SST collection in the first quarter of 2025 and a reduction in spending on subsidies and social assistance. 'On that note, that helped improve the ringgit as foreign investors were seen as net buyers in our bond markets, especially the Malaysian Government Securities (MGS) and Government Investment Issues (GII). He said BNM's foreign exchange reserves also rose from US$115.5 billion in January to US$120 billion at the end of June, further supporting the appreciation of the ringgit. — BERNAMA

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store