Warisan rep demands proof of RM31b Esteel investment in Sabah
Sri Tanjong assemblyperson Justin Wong demanded that the Sabah state government provide clear evidence to support claims of a RM31 billion investment by Chinese firm Esteel Enterprise in the Sipitang Oil and Gas Industrial Park (Sogip).
Wong (above), who is from the opposition party Warisan, said Sabah's Industrial Development and Entrepreneurship Minister Phoong Jin Zhe should stop making statements about the potential of the project unless he can prove its legitimacy.
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New Straits Times
37 minutes ago
- New Straits Times
Architect of transformation: How Roslan Abdullah quietly reshaped Malaysia's auto landscape
KUALA LUMPUR: Former Proton Holdings Bhd deputy chief executive officer Roslan Abdullah has found a new challenge as he takes up position as chief operating officer of Great Wall Motors Malaysia, a Chinese carmaker that has been making waves in Southeast Asia, especially Thailand Having held key positions in Modenas, Isuzu, DRB-HICOM Bhd, Honda Malaysia and Proton, Roslan has a depth of experience that would serve Great Wall Motors well as they navigate the current challenging automotive landscape with technology changing quickly and competition heating up like never before. An independent automotive analyst Shamsul Yunos said during his tenure at Honda Malaysia, the brand saw a major resurgence, overtaking Toyota for the first time to take their place at the top of the non-national sales chart, an effort that is decades in the making. "Honda has almost always played second fiddle to Toyota for the last four decades despite their best efforts to offer models that are offer the latest technology and innovative styling. "His contributions to Honda was little known while he was on the job and were only shared by former team members after he has left the company, and indication that he isn't one for the spotlight, preferring quiet strategy over grand pronouncements," Shamsul told Business Times. Honda gained significant competitive advantage through pricing and innovative marketing strategies during his time and the change appeared seamless the outside although it must have required significant effort from everyone from the factory floor to the sales floor. Announcing his appointment on Monday, GWM Malaysia managing director Cui Anqi said Roslan leadership experience and strategic insight will be instrumental in strengthening its operations as a long-term player in Malaysia's automotive landscape "My vision is to position GWM as a trusted long-term mobility partner through a strong and reliable dealer and service network, a product portfolio that meets the needs of all Malaysians and a firm commitment to delivering seamless ownership experiences," Roslan said in a statement. Roslan is credited with a calm leadership style that allowed for continuous and measured growth at both Honda and Proton and upon news of his departure from Proton, numerous former staff expressed their best wish for a leader that is also seen as a team player. "When he accepted the job at Proton, many wondered why he volunteered for this highly challenging 'National Service' and over the years the transformation in Shah Alam was gruelling and the pace merciless as the company introduced new models from Geely and updated their local offerings," Shamsul said. "The stories of clash of cultures with the new technical partner were many and some quite fantastic but the media could never get anything other than positive tones from the Malaysian team that he headed," he added. Apart from organisational changes, Roslan faced a market that was unforgiving of Proton's past records when it comes to after sales and customer support. Changes he implemented in parts management and logistics did not make headline news but improved customer satisfaction and reduced negative association with the brand. His focus on improving after sales performance at Proton last was comprehensive, covering everything from technical training for workshop staff to management reorientation for business owners. Enriched by the challenges of taking a global brand to number one in the sales chart and nurturing a very vulnerable Proton back to health, his new role at GWM may prove to be the most challenging yet as China brands are currently battling for Malaysian market dominance. "While the post may seem like a downgrade from deputy CEO at Proton but the challenge is no less intense. "He lands at his new post as the company and whole industry is going through a brutal price war initiated by ambitious sales target set by Chinese carmakers for Malaysia and Southeast Asia, which is a known fortress for Japanese brands," Shamsul said. At Proton, Roslan had expressed concern that the heavy discounting and price war is not sustainable in any industry, much less a high investment, thin margin environment of the global automotive industry. So far GWM has been reluctant to participate in the price war. Shamsul said Roslan's journey in the automotive industry began in 1993 with a small wiring loom supplier in Terengganu after acquiring his accounting degree in Brighton a year earlier. This gave him first-hand experience of the automotive industry from lowest rung to the highest echelon. "This is a useful perspective for GWM as they navigate a difficult market like Malaysia, which has a very valuable local interest to protect in the automotive industry. "While the new players may be impatient to get market share, they should best follow the proven tracks of Japanese carmakers that grew together with Southeast Asia, giving back to the local economy as they enjoy warm market reception," he added.
The Star
an hour ago
- The Star
China reviews US data curb impact
BEIJING: China is reviewing effects on the nation's scientific research after US President Donald Trump's moves to withdraw funding from some US agencies and halt publication of certain categories of data. Several Chinese ministries and bodies had, in recent weeks, started assessing potential disruption to their work, and made efforts to determine the extent to which some activities had become reliant on data published by the United States, according to sources. Agencies carrying out reviews include the Chinese Academy of Sciences, China Meteorological Administration, Natural Resources Ministry and Agriculture and Rural Affairs Ministry. One area of work facing potential disruption has been studies of coral bleaching in the South China Sea. Chinese researchers had used a US National Oceanic and Atmospheric Administration product that published coastal water temperatures, which was decommissioned last month. The move comes as Beijing and Washington had been working to get bilateral relations back on track, with negotiators agreeing on a framework to ease trade tensions and revive the flow of sensitive goodss. But details are scarce and many issues remain unresolved, including China's massive trade surplus with the United States. Reviews being carried out by the Chinese ministries would examine if domestic sources can replace the use of US data that's now unavailable, the source said. Investigations are being conducted quietly to avoid giving the United States any potential bargaining chip. Beijing had sought to reduce its dependence on foreign sources for critical technology and products. Past US actions had only accelerated China's push for self-reliance, much like how US curbs on chip sales had spurred growth in the country's home-grown semiconductor industry. — Bloomberg
The Star
2 hours ago
- The Star
SoftBank seeks to raise $4.9 billion in T-Mobile share sale, Bloomberg News reports
FILE PHOTO: A T-Mobile logo is seen on the storefront door of a store in Manhattan, New York, U.S., April 30, 2018. REUTERS/Shannon Stapleton/File Photo (Reuters) -Japan's SoftBank Group Corp is looking to raise nearly $4.9 billion in an unregistered overnight block sale of T-Mobile shares, Bloomberg News reported on Monday. SoftBank is offering to sell 21.5 million shares for $224 to $228 each, Bloomberg said, citing the deal terms. Bank of America Corp is working on the deal. The sale represents a discount of more than 3% to T-Mobile's closing price of $230.99 on Monday, and the stake offered would represent about 1.9% of T-Mobile's outstanding shares, Reuters calculations showed. SoftBank and T-Mobile did not immediately respond to Reuters' requests for comment. In May, the Japanese technology investment group reported a 1.15 trillion yen ($7.94 billion) profit for the year ended March, compared with a loss of 227.6 billion yen a year earlier. SoftBank's approach of investing in high-growth technology companies is epitomized by the success of its investment in Chinese e-commerce leader Alibaba Group as well as the bankruptcy of U.S. office-space startup WeWork. ($1 = 144.7500 yen) (Reporting by Juby Babu in Mexico City; Editing by Anil D'Silva)
