EXIM Bank Malaysia Supports Mac World Industries' Expansion Into The Gulf Region With Strategic Financing
EXIM Bank is supporting Mac World's ambitious expansion with Shariah-compliant financing, to support the construction and operational needs of its cutting-edge packaging facility in Dubai Industrial City. The 9,287-square-metre site will strengthen Mac World's capabilities as a regional leader in edible cooking oils, driving growth across the UAE and GCC markets. Building on its impressive RM1.7 billion sales in 2024, this strategic investment positions Mac World for sustained growth and market leadership.
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The Star
an hour ago
- The Star
Leaders set on resolving border issues, boosting ties
Strategic partnerships: Anwar and Prabowo walking together ahead of their bilateral meeting at the Presidential Palace in Jakarta. — AFP JAKARTA: Malaysia and Indonesia reached several important agreements at the 13th Annual Consultation, including border issues, economic cooperation and the implementation of new energy projects, says Datuk Seri Anwar Ibrahim. The Prime Minister said among the main achievements of the talks were the signing of four memoranda of understanding covering border issues including Pulau Sebatik, health, information and communication and Internet governance. 'We touched on important issues including a US$30bil (RM127bil) bilateral trade target, investment cooperation in Ibu Kota Nusantara and smoother cross-border access facilities in Entikong,' he said at a press conference after the talks. The Prime Minister was in Indonesia for a two-day working visit in conjunction with the 13th Malaysia-Indonesia Annual Leaders' Consultation. Earlier, he was received by Indonesian President Prabowo Subianto at the Merdeka Palace, after which the two leaders held a bilateral meeting to discuss various issues of mutual concern. Anwar said Malaysia's investments in strategic sectors in Indonesia were based on the spirit to strengthen regional prosperity. Malaysia's aim, he said, was to be an honest and trustworthy development partner in various fields, including renewable energy with Sarawak as an export hub for infrastructure, housing, education and technology. On the issue of maritime boundaries in the Sulawesi Sea, the Prime Minister said discussions were held based on international law, particularly the UN Convention on the Law of the Sea, as well as the interests of both countries, Bernama reported. 'Our spirit is to safeguard each other's interests while respecting the boundaries established in accordance with international law. We will continue with that spirit so that there is no tension.' He said Malaysia and Indonesia also agreed to boost cooperation through the Trilateral Cooperative Arrangement framework to maintain peace in the Sulu Sea and Sulawesi Sea. At a dialogue session with the Association of Malaysian-Indonesian Journalists earlier, the Prime Minister said Malaysia has never adopted an aggressive stance in addressing maritime border issues with Indonesia, including the long-standing dispute in the Sulawesi Sea. He said Malaysia remains committed to the legal framework and diplomatic negotiations. 'We follow the legal path. We do not take an aggressive stance. Both sides must avoid encroaching into each other's territory.' The dispute in the Sulawesi Sea involving overlapping maritime claims between East Kalimantan and southeastern Sabah has persisted since Malaysia published a map of its maritime boundaries in 1979. According to a written reply dated July 22 on the Malaysian Parliament portal, the Foreign Ministry said that the ND6 and ND7 oil exploration blocks in the Sulawesi Sea fall within Malaysian sovereign territory under international law. The ministry said Malaysia's stance was based on international legal principles, including the 2002 ruling by the International Court of Justice over nearby territorial disputes.
The Star
an hour ago
- The Star
Business groups say swift ceasefire will prevent disruptions
Soldiers react as they receive flowers from members of a royalist group in support of the military at the Royal Thai Armed Forces Headquarters, on the day military negotiations are set, after the leaders of Cambodia and Thailand agreed to a ceasefire on Monday effective midnight, in a bid to bring an end to their deadliest conflict in more than a decade after five days of fierce fighting, in Bangkok, Thailand, July 29, 2025. REUTERS/Chalinee Thirasupa PETALING JAYA: The ceasefire between Thailand and Cambodia is much needed to restore peace and regional stability at a time when employers are grappling with a complex global business environment, say business groups. The Malaysian Employers Federation (MEF) described the ceasefire as a positive development in light of slow global trade, ongoing geopolitical tensions and disruptions linked to US tariff rates. 'On behalf of Malaysian employers, including those with regional operations, supply chains and investment footprints in both Thailand and Cambodia, we express our deep appreciation for the Prime Minister's bold diplomatic intervention and rapid resolution of the escalating tensions along the Thai-Cambodian border. 'Employers across the region, particularly those in labour-intensive manufacturing, agribusiness, logistics and cross-border retail, now have the opportunity to continue operations without disruption while maintaining the safety of their workforce and facilities. 'MEF commends the commitment of both Thailand and Cambodia's peaceful conflict resolution through Asean platforms,' said its president Datuk Dr Syed Hussain Syed Husman. He added that since Malaysia maintains substantial trade and investment ties with both Thailand and Cambodia, any instability would pose real threats to business continuity, supply chains and regional confidence. Syed Hussain said the swift de-escalation will ease concerns raised by many members with direct operations or investment interests in both nations and help prevent further commercial losses, supply chain disruptions and reputational risks that can emerge from prolonged conflicts. Thailand is one of Malaysia's top trading partners in Asean with bilateral trade exceeding RM100bil annually. Cambodia, while smaller in volume, is a growing trade partner with Malaysia's total investments crossing RM12bil in recent years. The Malaysia-Cambodia Business Association (MCBA) also commended Malaysia's leadership role in brokering the ceasefire. MCBA founding president Datuk Seri Ricky Yaw praised Datuk Seri Anwar Ibrahim for his proactive diplomacy, especially in bringing the leaders of both countries together for urgent dialogue. 'This ceasefire is a critical step towards restoring peace and regional stability. We extend our highest respect to Malaysia for the leadership demonstrated in facilitating this breakthrough. 'We also pay high tribute to Cambodian Prime Minister Hun Manet and Thailand's Acting Prime Minister Phumtham Wechayachai for their political foresight and courage in making responsible decisions that balance national interest with regional peace,' Yaw said.
The Star
3 hours ago
- The Star
Boosting investor sentiment
PETALING JAYA: As Malaysia gears up to roll out a new investment incentive framework (NIIF) this year, economists believe the country must double down on administrative efficiency and investor support to stand out as a preferred investment destination in an increasingly competitive region. They said that the missing link may no longer be in the policies – but in ensuring the operating environment is truly conducive. Sunway University economics professor Yeah Kim Leng, who also serves as one of five advisers in the Policy Advisory Committee to the prime minister, said that having an attractive investment environment is no longer sufficient. 'We know there are general requirements for creating an attractive investment environment that encourages and fosters investor confidence. 'But that's not enough – confidence also depends on having a conducive operating environment,' Yeah told StarBiz. He said this includes ease of doing business, faster clearance and 'an efficient operating environment that allows them to operate in a more efficient and competitive manner at the lowest possible cost'. While Malaysia has made strides in improving its business environment, Yeah believes further regulatory and legal reforms – particularly at the operational and startup levels – are needed to boost investor sentiment. 'Support should not be limited to financial assistance, but also in terms of administrative and regulatory requirements,' he said. 'We must show our superior hand-holding strategies so that investors are comfortable and can implement their projects quickly.' Despite global headwinds, Malaysia continued to record strong investment numbers. In 2024, the country achieved a record RM378.5bil in approved investments, up 14.9% year-on-year – with domestic investments (DI) making up 55% or RM208.1bil, while foreign investments (FI) accounted for RM170.4bil. The momentum has continued this year. In the first quarter (1Q25) alone, Malaysia secured RM89.8bil in approved investments, up 3.7% from the same period last year – with FI contributing RM60.4bil or 67.3% of total investments, while DI accounted for RM29.4bil or 32.7%. Notably, RM48bil – or 53.4% – of total investments in 1Q25 aligned with focus sectors under the National Investment Aspirations, which prioritise economic complexity, high-value jobs, environmental, social and governance (ESG) adoption and strong domestic linkages. As of June 10, the Malaysian Investment Development Authority (Mida) was managing a pipeline of proposed projects worth RM48.5bil, alongside another RM59.3bil in potential leads currently under negotiation. On these fronts, Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said the government should examine how well existing tools and support mechanisms are being utilised. 'I suppose we need to go back to the basic question – in light of the existing free trade agreements, what is the utilisation rate among Malaysian firms? Similarly, given all the government assistance which can take the form of grants, microfinancing, tax deductions etc, how much has been utilised,' he questioned. 'If the answer is low, then the government needs to find ways on how the utilisation can be improved.' Mohd Afzanizam also stressed the importance of a smooth experience when navigating government processes. 'At the end of the day, it is about a pleasant experience, especially when dealing with the various levels of government agencies.' He noted that the investment ecosystem spans federal and state authorities, investment promotion agencies and local councils – all of which must coordinate to reduce bureaucratic friction. 'This would mean that the degree of bureaucracy can be quite complicated and therefore, addressing such issues would make the country stand out from the rest of the pack.' Meanwhile, Yeah added that Malaysia could take a leaf out of Singapore's book, especially in terms of administrative efficiency. 'That efficiency, including fast approval and easy access to resolving investors' problems, make up part of the success story of Singapore being able to attract nearly 60% of the total foreign direct investment or FDI inflow into the Asean region.' Commenting on the upcoming NIIF – a new investment incentive structure set to be implemented in 3Q25 – Yeah said that while there is not much information yet, it is expected to enhance Malaysia's competitiveness by aligning incentives with investors' expectations. Still, he believes other key investors' concerns, such as the shortage of skilled labour, must also be addressed. 'There must be a programme to provide win-win solutions for both the government and investors. We can actually focus on fostering greater industry collaboration to provide specialised training,' he said. In the case of the semiconductor industry, for instance, he suggested Malaysia could consider a temporary freeze on foreign talent while ramping up local talent development. The country recently climbed 11 spots to 23rd place in the 2025 World Competitiveness Ranking – its best ranking since 2020, up from 34th last year. The annual report, published by the Switzerland-based Institute for Management Development, evaluates countries based on their ability to create and sustain a business-friendly environment that fosters long-term prosperity. Under the Madani Economy framework, Malaysia is aiming to break into the world's top-12 most competitive economies by 2033. The Ministry of Investment, Trade and Industry (Miti) recently reaffirmed in Parliament its commitment to attracting high-quality investments that align with Malaysia's long-term economic objectives. Together with Mida, Miti said global trade uncertainties call for effective strategies to keep Malaysia attractive to investors and stimulate private investment. 'The government prioritises quality investments that will enhance economic complexity, create high-value jobs for Malaysians, expand domestic linkages, develop new economic clusters and strengthen existing ones, improve inclusivity, and support the ESG agenda.' Miti said the upcoming NIIF, set to be implemented in 3Q25, marks a shift from the current practice of offering incentives based on specific products or activities. 'The NIIF will introduce a new evaluation mechanism for incentive offerings to ensure that better incentives are awarded to high-quality investments,' it said.
