Johor-Singapore SEZ will transcend political cycles, says Rafizi
The Johor-Singapore Special Economic Zone (JS-SEZ), as a bilateral initiative, must transcend political cycles, Minister of Economy Datuk Seri Mohd Rafizi Ramli said on Monday.
The JS-SEZ must 'never depend on the sitting administration of the day, or the whims and desires of individual politicians', Rafizi said in his keynote address at the JS-SEZ Partners Dialogue: Advancing Facilitation event. The zone will continue to be a national priority in the coming years, he said.
'My time here is temporary, and there will eventually be another minister of economy to replace me,' he said. 'The last thing we need is for all the momentum, attention, and excitement to go to waste.'
The comment comes at a time when he is facing what analysts say is an uphill battle against Nurul Izzah Anwar, the daughter of Prime Minister Datuk Seri Anwar Ibrahim, for the deputy president post of Parti Keadilan Rakyat (PKR).
Rafizi has publicly vowed to resign from the Cabinet if he fails to retain the deputy presidency. Johor Menteri Besar Datuk Onn Hafiz Ghazi thanked Rafizi as the architect of the JS-SEZ and for his support to the state at the same event.
Early indicators are encouraging for the JS-SEZ, with foreign direct investment interest in Johor showing strong momentum, Rafizi said on Monday.
Rafizi also reiterated that coordination between federal and state authorities, particularly Johor, and collaboration with the Ministry of Investment, Trade and Industry have been central to maintaining the project's momentum.
Malaysia and Singapore formally signed an agreement in January 2025 to create the zone that aims to attract 100 projects worth RM100 billion within its first decade and create some 100,000 new jobs in high-value economic sectors.
To support the JS-SEZ, the government has announced incentives, including a special corporate tax rate, to lure investors to set up shop in the zone that stretches from Kulai and part of Pontian to Pengerang.
See Also:
Click here to stay updated with the Latest Business & Investment News in Singapore
Rafizi: Johor-Singapore SEZ comprehensive blueprint to be finalised by end-2025
Maybank targets JS-SEZ cross-border flows, steps up push in Asean and Hong Kong
JS-SEZ to bridge supply chain barriers in tariff wars
Read more stories about where the money flows, and analysis of the biggest market stories from Singapore and around the World
Get in-depth insights from our expert contributors, and dive into financial and economic trends
Follow the market issue situation with our daily updates
Or want more Lifestyle and Passion stories? Click here
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
9 minutes ago
- Yahoo
Oil price structure narrows, premiums fall as supplies rise, summer demand ends
By Florence Tan, Georgina McCartney and Robert Harvey SINGAPORE/HOUSTON/LONDON (Reuters) -Premiums for prompt benchmark oil prices globally are falling compared with those in future months on rising output from the Middle East, Latin America and Europe, just as peak summer demand ends, traders and analysts said on Thursday. Easing concerns that the U.S. could impose more sanctions on Russia and further disrupt oil supplies are also weighing on oil prices, they said. The six-month time spreads for Brent futures, U.S. West Texas Intermediate futures and Middle East marker Dubai have narrowed by more than $1 a barrel in backwardation since the start of the month. Backwardation refers to a market structure where prompt prices are higher than those in future months, indicating tight supply. A narrowing of the structure indicates a market view that supplies are expected to rise. "Brent and Dubai time spreads are softening mainly on expectations of incremental OPEC+ supply from September and easing fears of Russian disruption after recent steady flows via both Baltic and Black Sea," said Shohruh Zukhritdinov, a Dubai-based oil trader. "U.S. crude supply remains stable, but refinery runs will gradually decline into the shoulder season, easing prompt tightness," he said. U.S. President Donald Trump and Russian President Vladimir Putin will meet in Alaska on Friday to strike a ceasefire deal in Ukraine. Citi analysts said Brent could land in the low-$60s per barrel area, if there is progress towards a U.S.-Russia deal. RISING SUPPLY, END OF SUMMER Traders are bracing for more supplies after the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, agreed to increase September output, just as non-OPEC producers such as Guyana, Brazil and Norway launched new production. Peak oil demand during the Northern Hemisphere summer is also ending, cooling red-hot diesel margins in Europe and reducing the burning of crude for power in Saudi Arabia, the sources said. "We saw a lot of selling in the window, with expectation around crude demand revised down as refinery margins weaken as gasoil/diesel cracks unravel," said Harry Tchilinguirian, group head of research at Onyx Capital Group, referring to physical trade in the North Sea market. "Now that seasonal demand is going to unwind, and we cannot be sure that China will keep up elevated imports (for stockpiling), so where does the extra Saudi barrels go?" Meanwhile, spot premiums for Middle East benchmarks Dubai and Oman hovered at their lowest in more than a month for October-loading supply. [CRU/M] Still, Dubai is relatively stronger than Brent, keeping the price spread between the benchmarks - known as the Exchange of Futures for Swaps - narrow and allowing Atlantic Basin supply to head to Asia. Asian refiners have already snapped up millions of barrels of oil from the United States, Africa and Europe for delivery in September and October. Neil Crosby, analyst at Sparta Commodities, said there is still uncertainty over Russian supply with the world's third-largest oil importer India buying spot cargoes to replace Russian oil in recent weeks. "Some (Russian) Urals will go to China but the story is not over yet and there is still some tail risk over what happens to Russian (oil) that cannot clear which makes the EFS trade short term even trickier than normal," he said.
Yahoo
13 minutes ago
- Yahoo
To Vers or not to Vers: How will this scheme affect HDB prices?
The clock is ticking on the leases for older Housing Board flats, and an answer on what the Government plans to do about lease decay dropped earlier this week. National Development Minister Chee Hong Tat gave an update on the Voluntary Early Redevelopment Scheme (Vers) in an interview that was published on Aug 10, outlining in broad strokes the plans for flats nearing the end of their 99-year leases. The gist: Vers will let home owners of selected precincts that are aged about 70 and up choose if they want their homes to be acquired by the Government for redevelopment before their leases run out. The scheme will start in the 2030s, and will likely begin 'with a few selected sites', said Mr Chee. For many homeowners living in old flats, this announcement provides them with some direction on what happens should they choose Vers – or not. In this episode of The Usual Place, ST land use reporter Ng Keng Gene and Ms Christine Sun, chief researcher and strategist at Realion Group, join me to discuss how this announcement will affect housing prices and considerations for buying an old flat. Tune in at 12pm SGT/HKT to watch the livestream, and share your thoughts on our YouTube channel. Follow The Usual Place Podcast live at noon every Thursday and get notified for new episode drops: Channel: Apple Podcasts: Spotify: YouTube: Source: The Straits Times © SPH Media Limited. Permission required for reproduction Discover how to enjoy other premium articles here
Yahoo
33 minutes ago
- Yahoo
Oil price structure narrows, premiums fall as supplies rise, summer demand ends
By Florence Tan, Georgina McCartney and Robert Harvey SINGAPORE/HOUSTON/LONDON (Reuters) -Premiums for prompt benchmark oil prices globally are falling compared with those in future months on rising output from the Middle East, Latin America and Europe, just as peak summer demand ends, traders and analysts said on Thursday. Easing concerns that the U.S. could impose more sanctions on Russia and further disrupt oil supplies are also weighing on oil prices, they said. The six-month time spreads for Brent futures, U.S. West Texas Intermediate futures and Middle East marker Dubai have narrowed by more than $1 a barrel in backwardation since the start of the month. Backwardation refers to a market structure where prompt prices are higher than those in future months, indicating tight supply. A narrowing of the structure indicates a market view that supplies are expected to rise. "Brent and Dubai time spreads are softening mainly on expectations of incremental OPEC+ supply from September and easing fears of Russian disruption after recent steady flows via both Baltic and Black Sea," said Shohruh Zukhritdinov, a Dubai-based oil trader. "U.S. crude supply remains stable, but refinery runs will gradually decline into the shoulder season, easing prompt tightness," he said. U.S. President Donald Trump and Russian President Vladimir Putin will meet in Alaska on Friday to strike a ceasefire deal in Ukraine. Citi analysts said Brent could land in the low-$60s per barrel area, if there is progress towards a U.S.-Russia deal. RISING SUPPLY, END OF SUMMER Traders are bracing for more supplies after the Organization of the Petroleum Exporting Countries and their allies, known as OPEC+, agreed to increase September output, just as non-OPEC producers such as Guyana, Brazil and Norway launched new production. Peak oil demand during the Northern Hemisphere summer is also ending, cooling red-hot diesel margins in Europe and reducing the burning of crude for power in Saudi Arabia, the sources said. "We saw a lot of selling in the window, with expectation around crude demand revised down as refinery margins weaken as gasoil/diesel cracks unravel," said Harry Tchilinguirian, group head of research at Onyx Capital Group, referring to physical trade in the North Sea market. "Now that seasonal demand is going to unwind, and we cannot be sure that China will keep up elevated imports (for stockpiling), so where does the extra Saudi barrels go?" Meanwhile, spot premiums for Middle East benchmarks Dubai and Oman hovered at their lowest in more than a month for October-loading supply. [CRU/M] Still, Dubai is relatively stronger than Brent, keeping the price spread between the benchmarks - known as the Exchange of Futures for Swaps - narrow and allowing Atlantic Basin supply to head to Asia. Asian refiners have already snapped up millions of barrels of oil from the United States, Africa and Europe for delivery in September and October. Neil Crosby, analyst at Sparta Commodities, said there is still uncertainty over Russian supply with the world's third-largest oil importer India buying spot cargoes to replace Russian oil in recent weeks. "Some (Russian) Urals will go to China but the story is not over yet and there is still some tail risk over what happens to Russian (oil) that cannot clear which makes the EFS trade short term even trickier than normal," he said.