Tech index bucks market trend, national semiconductor strategy attracts RM63bil in investments
This may be due to Prime Minister Datuk Seri Anwar Ibrahim's announcement yesterday that the National Semiconductor Strategy (NSS), launched in May 2024, has attracted RM63 billion in investments, comprising RM58 billion in foreign direct investments and RM5.2 billion in domestic direct investments.
"Malaysia's transition from a back-end assembly base to a design-to-packaging semiconductor hub remains a work in progress.
"However, we are encouraged to see that the NSS is gaining investor traction, institutional support, and regional momentum. With RM63 billion in committed investments, an increase in local champions, and stronger ASEAN alignment, Malaysia is positioning itself as a neutral, indispensable node in the global chip supply chain,' it added.
CIMB affirmed that this is one of the key advantages in ensuring Malaysia remains an attractive destination for semiconductor manufacturing globally.
At lunch break, Vitrox shares went up 20 sen to RM3.99, Infomina was 11 sen better at RM1.07 and SMRT was 6.5 sen higher at 90.5 sen. - Bernama Trading ideas: MMAG, Keyfield, KAB, Rimbunan Sawit, Jentayu, AYS, Country Heights, Metronic, Nestle, ViTrox, Oriental Interest, KIP REIT, Luxchem, Betamek
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
New Straits Times
3 hours ago
- New Straits Times
Cross-border trade to thrive after high-level consultation
IT took bilateral summitry at the highest level to revive cross-border free-trade arrangement at the Tebedu-Entikong border crossing between Sarawak and West Kalimantan in Indonesia. This deal was one of the highlights of the 13th Malaysia-Indonesia Annual Consultation meeting between Prime Minister Datuk Seri Anwar Ibrahim and Indonesian President Prabowo Subianto in Jakarta this week. Also present were Sarawak Premier Tan Sri Abang Johari Openg and Sabah Chief Minister Datuk Seri Hajiji Mohd Noor. Sarawak had long sought to revive the free flow of goods since Indonesia unilaterally stopped it in 2016. Sarawak set up an inland port early in 2010 because it seemed to make good economic sense to transport goods from Kuching Port to West Kalimantan via the Tebedu inland port rather than all the way from Java. At its height in 2013, some RM700 million in goods were reported to be traded this way. Numerous Sarawak missions to Indonesia seeking to reinstate the free-trade arrangement since then had been fruitless. It, of course, hardly needs stressing that free trade benefits all who engage in it. It also makes geographic sense for transshipment of goods to and from West Kalimantan via Tebedu and Kuching. Naturally, it also needs to be acknowledged that West Kalimantan has similar aspirations to become a trade transshipment hub with the commissioning of a new deep sea port near Pontianak, the provincial capital. The new port will also be well-served by land adjoining it, which has been earmarked for the development of industries. It so happened that a trade delegation from Sarawak led by Deputy Premier Datuk Amar Awang Tengah Ali Hasan was in West Kalimantan and East Kalimantan, also this week. The main mission was, of course, to deepen the economic relationship not just with West Kalimantan bordering Sarawak but in East Kalimantan where the new Indonesian capital of Nusantara is being developed. Sarawak has already identified several joint-ventures in developing dams in Kalimantan and even major real estate developer Ibraco Bhd was scouting about for possible projects in Balikpapan, the major city adjoining Nusantara. Awang Tengah was reportedly also reviewing localities for setting up a Sarawak trade and tourism office in Pontianak. This comes on the heels of the revival of air connectivity between Kuching and Pontianak next month. There has been much clamour both in Sarawak and West Kalimantan for flights between the two cities to resume after they were stopped during the Covid-19 pandemic. People-to-people exchanges have come back strongly since as witnessed by the daily long queues at the Tebedu-Entikong main border crossing as well as other secondary border posts. All these positive developments must be sustained through regular high-level official exchanges, especially in showing to the Indonesian side that free trade and the free flow of people across our common border is not a zero-sum proposition benefiting only one side. What happened in Jakarta this week also shows that Sarawak and Sabah can and do benefit substantially from close state-federal ties and working in tandem to take the fullest advantage from similarly close Malaysia-Indonesia bilateral ties.
Borneo Post
5 hours ago
- Borneo Post
DCCI welcomes 13MP, urges strong execution to benefit Dayak community
DCCI described the 13MP as commendable, noting that its core elements were aligned with Sarawak's PCDS 2030. KUCHING (Aug 1): The Dayak Chamber of Commerce and Industry (DCCI) has welcomed the 13th Malaysia Plan (13MP), praising its alignment with Sarawak's development goals and calling for effective implementation to ensure tangible benefits for the Dayak community, particularly in clean energy, rural infrastructure, and Bumiputera economic empowerment. In a statement today, DCCI described the 13MP as commendable, noting that its core elements were aligned with Sarawak's Post Covid-19 Development Strategy 2030 (PCDS 2030). Among the initiatives highlighted is the development of the Sarawak Hydrogen Hub, a move that DCCI said would strengthen the state's energy infrastructure and open the door to high-value jobs for Sarawakians. 'We encourage the Dayak business community to explore and seize business opportunities generated by new industries from these energy hubs. 'We also support the plan's commitment to Bumiputera socio-economic development, particularly measures targeting the Dayak business community,' said the chamber. It also proposed for more proactive strategies to be implemented to identify and engage potential Bumiputera entrepreneurs, especially in rural Sarawak, and called for better mechanisms to monitor and evaluate the effectiveness of these programmes. 'Skill training programmes for rural communities must be intensified so that economic growth can be shared inclusively,' DCCI stated. Looking ahead, the chamber said it hoped the announcements made under the 13MP would be followed by further clarifications on implementation mechanisms, including specific directions and strategies to benefit the people. 'The relevant ministries must ensure that the commitments made under the 13MP are implemented properly, with strong execution and accountability, in accordance with the mandate of the people.' 13MP Dayak community DCCI
The Star
6 hours ago
- The Star
Backbenchers Club praises Anwar for US tariff reductions benefiting SMEs
PETALING JAYA: The Backbenchers Club (BBC) commended Prime Minister Anwar Ibrahim on the recent tariff reduction by the United States, as it also enables small and medium-sized enterprises (SMEs) to achieve long-term competitiveness in high-growth sectors. The tariff was reduced from 25% to 19%. 'These efforts are essential not only to absorb the impact of global trade fluctuations but to position Malaysian companies, especially SMEs, for long-term competitiveness in high-growth sectors,' said BBC in a statement on Friday (Aug 1). Although this is a positive step, the BBC highlighted the need to persist with economic reform, expand into new markets, and develop a resilient economy. 'I commend the Prime Minister for defending that space while keeping the door open to meaningful trade engagement with one of our largest partners,' said the statement According to a report in The Star, the new tariff structure would take effect in seven days and apply to goods entering the US for consumption, with limited exceptions for shipments already in transit.
