Global forum for thought leaders coming to Medini
Over 500 business and government leaders from across Asia are set to convene in Medini, Iskandar Puteri.
Iskandar Investment Bhd (IIB) president and chief executive officer Datuk Idzham Mohd Hashim said Japan's Nikkei Forum, a series of global events organised by Nikkei Inc, would explore critical themes like digital transformation, sustainable development and emerging technologies.
'The event will help shape the future of the region by creating opportunities for businesses and policymakers to connect, grow and drive economic progress.
'The forum is also a golden opportunity to present Johor's dynamic investment landscape to the world and position the state as a leading meetings, incentives, conferences and exhibitions (MICE) hub for investment and business development in Asian markets,' he said in an interview.
Idzham added that in the past, the forum had attracted delegates from about 40 countries with the objective of fostering collaborations and creating strategic partnerships.
Last December, IIB, Nikkei Inc and Nikkei Business Publications signed a memorandum of understanding to jointly host the Nikkei Forum in Medini.
The Nikkei Forum was founded in 1999 as a platform for thought leadership in Asia.
Idzham added that the partnership reflected a shared vision to promote meaningful exchanges across Asia.
It would also build on strong historical ties between Japan and Malaysia in sectors such as manufacturing, automotive and electronics.
'As the strategic developer of Medini, IIB plays a critical role in driving regional growth and innovation.
'Medini, located some 30km from Singapore, is rapidly developing into a technology focused urban hub with projects such as Tech Medini, which emphasises artificial intelligence, blockchain and robotics,' he added.
Idzham said the location and support for cross-border economic activity made it an ideal destination for businesses looking to expand in South-East Asia.
The event would further highlight the region's growing role as an innovation and investment hub, added Idzham. — By YEE XIANG YUN
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
an hour ago
- The Star
Japan posts unexpectedly strong GDP, helped by resilient exports
This photo taken on April 21, 2025 shows a customer walking past a display of instant noodles at a branch of Japanese discount retailer Don Quijote, also known overseas as Don Don Donki, in the Shibuya district of central Tokyo. (Photo by Richard A. Brooks / AFP) TOKYO: Japan's economy grew much faster than expected in the second quarter as export volumes held up well against new U.S. tariffs, giving the central bank some of the conditions it needs to resume interest rate hikes this year. Gross domestic product (GDP) rose 1.0% on an annualised basis, government data showed on Friday, marking the fifth straight quarter of expansion after the previous quarter's contraction was revised to growth. However, analysts warn global economic uncertainties fuelled by U.S. tariffs could weigh on the world's fourth-largest economy in the coming months, especially as automakers struggle to keep prices down for American customers. "The April-June data masked the real effect of Trump's tariffs," said Takumi Tsunoda, senior economist at Shinkin Central Bank Research Institute. "Exports were strong thanks to solid car shipment volumes and last-minute demand from Asian tech manufacturers ahead of some sectoral tariffs. But these aren't sustainable at all." The increase in GDP was helped by surprisingly resilient exports and capital expenditure and compared with median market expectations for a 0.4% gain in a Reuters poll. It followed a 0.6% rise in the previous quarter, which was revised up from a 0.2% contraction. The reading translates into a quarterly rise of 0.3%, better than the median estimate of a 0.1% uptick. The strong data contrasts with China, which saw factory output growth hit an eight month low and retail sales slow sharply in July. Private consumption, which accounts for more than half of Japan's economic output, rose 0.2%, compared with a market estimate of a 0.1% increase. It grew at the same pace as the previous quarter. Consumption and wage trends are factors the Bank of Japan is watching to gauge economic strength and determine the timing of its next interest rate action. Capital spending, a key driver of domestic demand, rose 1.3% in the second quarter, versus a rise of 0.5% in the Reuters poll. Net external demand, or exports minus imports, contributed 0.3 of a point to growth, versus a 0.8 point negative contribution in the January-March period. The United States imposed 25% tariffs on automobiles and auto parts in April and threatened 25% levies on most of other Japanese imports. It later struck a trade deal in July that lowered tariffs to 15% in exchange for a U.S.-bound $550 billion Japanese investment package. Japanese economy minister Ryosei Akazawa told a press conference that the latest GDP results confirmed that the country's economy was recovering modestly. "Looking ahead, we expect better employment and income conditions and policy measures to support the modest recovery," he said. "But we need to be mindful of downside risks from U.S. trade policies." Akazawa said the U.S. tariffs are likely to push down Japan's real GDP by 0.3-0.4%. The government last week cut its inflation-adjusted growth forecast for this fiscal year to 0.7% from the initially projected 1.2%, predicting U.S. tariffs would slow capital expenditure while persistent inflation weighs on consumption. Exports have so far avoided a major hit from U.S. tariffs as Japanese automakers, the country's biggest exporters, have mostly absorbed additional tariff costs by cutting prices in a bid to keep domestic plants running. The economic resilience, along with a U.S.-Japan trade deal struck last month, supports views the BOJ could hike interest rate later this year. However, economists expect exports will suffer in the coming months as they start passing on costs to U.S. customers. "It's possible the economy could slip into decline in the July-September quarter as exports slow," Shinichiro Kobayashi, principal economist at Mitsubishi UFJ Research and Consulting, said. "For the economy to fully pick up, private consumption holds the key. Consumption could improve towards the end of the year as inflation gradually slows and sentiment recovers," he said. (Reporting by Makiko Yamazaki and Kantaro Komiya; Editing by Sam Holmes)
New Straits Times
3 hours ago
- New Straits Times
Asia markets stumble as hot PPI print reins in Fed rate cut hype
SINGAPORE: Stocks in Asia made an uneven recovery as higher-than-expected producer price inflation dampened expectations of a jumbo rate cut at the Federal Reserve's September meeting, while US bonds and equity futures stabilised. MSCI's broadest index of Asia-Pacific shares outside Japan was down 0.3 per cent after a report on Thursday from the Bureau of Labor Statistics which showed the Producer Price Index increased 0.9 per cent in July on a month-over-month basis, well above economists' expectations. "What it did was to get rid of all the chat about a 50 basis point cut," said Mike Houlahan, director at Electus Financial Ltd in Auckland. The market is currently pricing in a 92.1 per cent probability of a 25 basis point rate cut at its September meeting, compared with a 100 per cent likelihood of a cut on Thursday, according to the CME Group's FedWatch tool. The chance of a jumbo 50 basis point cut fell to 0 per cent from an earlier expectation of 5.7 per cent a day ago. US stock futures were flat in early Asian trading after ending a choppy trading session on Wall Street with mild gains on Thursday. The yield on the US 10-year Treasury bond was down 1 basis point at 4.2829 per cent. The two-year yield, which is sensitive to traders' expectations of Fed fund rates, slipped to 3.7304 per cent compared with a US close of 3.739 per cent. Nasdaq futures extended losses into a third consecutive day, sliding 0.1 per cent lower. The dollar index, which tracks the greenback against a basket of currencies of other major trading partners, retraced some gains after the PPI data release, last trading down 0.1 per cent at 98.143. The Nikkei 225 rebounded 0.4 per cent after snapping a six-day winning streak on Thursday with its biggest one-day selloff since April 11, as Japanese GDP data showed the economy expanding by an annualised 1.0 per cent in the April-June quarter, beating analyst estimates. The dollar weakened 0.3 per cent against the yen to 147.64. Australian shares were last up 0.2 per cent, while stocks in Hong Kong were down 0.9 per cent following losses on Thursday for US-listed exchange-traded funds tracking Chinese companies. The CSI 300 gave up early gains and was last trading flat after the release of weaker-than-expected Chinese economic data for July including retail sales and industrial production. Markets in India and South Korea are closed for public holidays. Cryptocurrency markets stabilised after a new record for bitcoin of US$124,480.82 on Thursday proved fragile and promptly crumbled after falling short of its next key milestone. The digital currency was last up 0.7 per cent, recovering some ground, while ether gained 1.7 per cent. "Bitcoin's failure to conquer the US$125,000 resistance signals another consolidation phase," said Tony Sycamore, a market analyst at IG in Sydney. In commodities markets, Brent crude was flat at US$66.94 per barrel ahead of a meeting in Alaska between US President Donald Trump and Russian leader Vladimir Putin. Gold was slightly lower as the markets digested the path of inflation-adjusted interest rates, which typically move in the opposite direction from bullion prices. Spot gold was trading up 0.1 per cent at US$3,339 per ounce.
The Star
20 hours ago
- The Star
Strong India-Singapore ties key to economic growth amid ‘volatile landscape': DPM Gan
NEW DELHI: As India and Singapore explore newer areas of cooperation such as nuclear energy and green initiatives, Deputy Prime Minister Gan Kim Yong said the two Asian partners needed to collaborate even more, given the increasingly 'volatile landscape' globally. DPM Gan, who was on an official trip to India earlier this week, visited the financial capital Mumbai on Tuesday (Aug 12) to look at Singapore projects. He then led the Singapore delegation at the third edition of the India-Singapore Ministerial Roundtable (ISMR) in the capital city New Delhi on Aug 13. The ISMR, which held its first meeting in 2022, is a high-level ministerial gathering that is now at the heart of engagement between the two countries, with both sides exploring and implementing cooperation in a wide range of areas – from nuclear energy and semiconductors to skills training in India. Speaking to the Singapore media late on Aug 13 in New Delhi, DPM Gan said Singapore could learn from India's experience in nuclear power, as the Republic keeps the option open for future deployment of such energy. While Singapore has not made a decision on its nuclear energy plans, it is studying developments in the field, such as small modular reactors (SMRs), as other nations in South-east Asia move towards nuclear energy. SMRs are advanced and compact reactors that can be factory-assembled and installed in dense urban areas. They are also known to be safer than traditional large reactors, but are mainly still in a research phase. India, which has over two dozen nuclear reactors, is now developing SMRs as part of its transition to clean energy. The South Asian country is committed to achieving net-zero emissions by 2070 and has taken the decision to expand its nuclear power capability from 8.88 gigawatts (GW) at present to 100 GW by 2047. DPM Gan said India had agreed to help Singapore connect with its atomic agencies 'to see how we can work together to learn about safety standards and... their practices and their regulations on nuclear safety'. He added that Singapore will 'continue to keep this option open and to study the potential deployment of such nuclear technology'. 'But, it's still early days,' he noted. India has a strict nuclear liability law that places the responsibility for any accident on the operator of a nuclear power plant, not the manufacturer. The law has spooked foreign firms, with countries including the US seeking an easing of the law, which India is reportedly looking into. DPM Gan said: 'We are still continuing to explore different technologies, because some of the technologies are not mature yet, and therefore we will continue to monitor the development of nuclear technology, particularly in nuclear energy.' In 2024, Singapore and the US signed an agreement to deepen cooperation on peaceful uses of nuclear energy, including SMRs. The Republic also signed a broad agreement with France in May on nuclear energy to facilitate cooperation on safety, workforce development, research and environmental protection, among others. Singapore's desire to learn from India on nuclear energy also underpins their close political and economic ties and strong people-to-people links. Successive leaders in Singapore have seen the potential benefit of pursuing close ties with India even before the country started registering rapid economic growth over the past two decades. The current Singaporean leadership has maintained its positive outlook towards India, despite the trade chaos caused by US President Donald Trump's tariffs. The Trump administration has imposed 50 per cent tariffs on Indian goods, while Singapore has faced a 10 per cent tariff. 'And going forward the next five, 10 years, I think the outlook, as I highlighted, is very uncertain,' DPM Gan said. 'Even as we confront a more challenging and more uncertain, more volatile landscape that we are seeing going forward, it is very important for countries that are like-minded to come together, to work together, to see how we can further deepen our collaboration and deepen our integration so that we can continue to explore opportunities for our businesses and our people,' he added. 'I think we are optimistic, as Singapore and India can work towards a stronger partnership going ahead.' This year marks 60 years of diplomatic relations and the 10th anniversary of the bilateral strategic partnership. DPM Gan termed closer collaboration in various sectors 'a win-win proposition' for both countries. 'By strengthening this partnership between Singapore and India, we will create opportunities for Singapore companies to continue to grow, to expand, to enlarge their market,' he said. 'It helps to grow the Indian economy because we are investing in India, but at the same time, our investments will provide returns for Singapore and company investors, and that will, in turn, strengthen Singapore's economy and continue to grow and enhance Singapore's economic strength.' Opportunities for Singapore firms include India's focus on boosting infrastructure; expanding green initiatives including civilian nuclear energy; and developing its high-tech capabilities, such as semiconductors. Within the ISMR, the two sides are also discussing setting up a sustainable green industrial park in Rajasthan state and collaboration in other green initiatives, such as green fuel exports through a green maritime corridor from India to Singapore. A memorandum of understanding on a green and digital shipping corridor is under discussion. 'I think the idea is that climate change is going to be an existential challenge, and therefore, a lot of the industries, businesses are on this transition journey... towards a low-carbon future. So I think India is very keen to develop new industrial parks that have this sustainability in mind,' DPM Gan said. Discussions also centred on cross-border carbon credit trading and the potential of other green energy collaboration. For instance, Singapore firms have expertise in building and operating solar and wind farms. DPM Gan, who is also Minister for Trade and Industry, had inaugurated CapitaLand Investment's first data centre in Navi Mumbai on Aug 13. He noted that the firm is also keen to explore opportunities to invest in green energy to support the needs of their data centre. 'So I think there are many opportunities for collaboration in the sustainable and green economy,' he said. The other two areas where collaboration between India and Singapore is growing quickly are in upskilling and semiconductors. In 2024, Singapore and India exchanged a memorandum of understanding to partner and cooperate in the field of semiconductors. Major companies such as American chipmaker Micron Technology and Taiwan-based multinational electronics contract manufacturer Foxconn are in the midst of plans to manufacture chips in India, with the demand for supportive industries going up. This is where Singapore firms can play a role. 'From Singapore's point of view, it will allow our semiconductor industries to be more resilient in terms of their supply chain. From India (perspective), this will create investment opportunities and job opportunities for the Indian economy,' he said. Some Singapore firms are already in India, while others are looking at the opportunities in the Indian market. Skilling workers remains a major challenge for India, with a large proportion of its people under 35 years old – more than 65 per cent of the total population – requiring skills training. Helping India train workers in the semiconductor sector would also be helpful for Singapore, noted DPM Gan. He said the two sides discussed the setting up of a training centre, particularly on semiconductors, and another training centre on MRO – maintenance repair and overhaul – business for the aviation sector. 'And in order for Singapore companies to be able to do so, we will have to ensure that the skills in India are able to meet the needs of these investors and also to make sure that there is an entire semiconductor ecosystem to be able to support the investments of semiconductor industries,' he added. Singapore is also working with India to improve the training of nurses. The demand for more nurses in Singapore is due to the high rate of attrition in recent years and growing global demand for such professionals. 'We hope to be able to continue to work with India to improve the standards of training so that they are more aligned with the needs of Singapore, because different countries have different curriculum, different approaches to training, and when they come to Singapore, they may need to undergo certain refresher, certain additional training to be aligned with practices in Singapore,' DPM Gan said. Singapore is working with training institutes in India 'to see how we can adjust and fine-tune the curriculum and training approach so that they are more aligned with what Singapore needs. So I think this will enhance the flow of nurses to Singapore,' said DPM Gan. Still, the growing economic and business links between India and Singapore are not without challenges. DPM Gan noted that Singaporean firms needed to understand that India is very different from Singapore. While India has been improving the ease of doing business over the years, it still has multiple challenges, ranging from regulatory hurdles for businesses to the need for more skilled workers and further improvement of infrastructure. 'I think for companies that are interested in exploring opportunities in India, they should always bear in mind that India is a different country, a different regime, a different system from Singapore. They have to keep their minds open and, as they come to India, get to know about the Indian operating environment, work with business leaders here, and get to understand how businesses operate in India,' he said. In addition, he advised Singapore firms to look for a local partner to guide them in India. These issues were also discussed during the third India-Singapore Business Roundtable (ISBR), which was also held on Aug 13. The ISBR is a business-led forum that brings together select leaders to identify initiatives that could strengthen the partnership between the business communities in India and Singapore, as well as forge cultural and people-to-people ties. At the ISMR, DPM Gan was joined by Coordinating Minister for National Security and Minister for Home Affairs K. Shanmugam, Foreign Minister Vivian Balakrishnan, Minister for Digital Development and Information Josephine Teo, Minister for Manpower and Minister-in-charge of Energy and Science & Technology Tan See Leng, as well as Acting Minister for Transport and Senior Minister of State for Finance Jeffrey Siow. The Indian side was represented by Minister of Finance and Corporate Affairs Nirmala Sitharaman, Minister of External Affairs S. Jaishankar, Minister of Commerce and Industry Piyush Goyal, and Minister for Electronics and Information Technology, Railways, Information and Broadcasting Ashwini Vaishnaw. DPM Gan noted that despite the challenges for Singapore firms in India, he had a positive outlook of India. He said the two countries 'can leverage on the understanding and trust' built over the years to forge a way forward. 'I think I'm quite happy with the progress we have made so far because of the understanding and trust that we have built over the last 60 years between the two countries, between the two leaders, and between the two governments at the minister level and at the business level.' - The Straits Times/ANN
