Latest news with #ASEANSemiconductorSummit
The Sun
5 days ago
- Business
- The Sun
Malaysia seeks US tariff below 20 pct as talks intensify
PETALING JAYA: Malaysia is in active negotiations with the United States to secure a tariff rate below 20 per cent ahead of the scheduled 25 per cent hike set for August 1. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz confirmed the discussions, stating that an announcement will follow once terms are finalised. 'Discussions are ongoing. In fact, negotiations are continuing this week, so we remain on track to meet the deadline. Once the terms are agreed upon, I believe an announcement will be made,' he told reporters at the ASEAN Semiconductor Summit (ASEMIS) 2025. When asked about a potential extension of the deadline, Tengku Zafrul noted that the decision rests with the US administration under President Donald Trump. No formal talks on delaying the tariff implementation have taken place yet. 'Every country faces different challenges when it comes to what we can offer. We cannot offer things we don't have or things that we feel may be detrimental to the Malaysian industry. These are factors we must carefully consider,' he added. - Bernama
The Sun
5 days ago
- Business
- The Sun
Malaysia semiconductor exports grow 15.7 pct in 1H 2025
PETALING JAYA: Malaysia's semiconductor exports demonstrated strong resilience, expanding by 15.7 percent in the first half of 2025, significantly outpacing the country's overall export growth of 3.8 percent. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz highlighted the sector's economic impact, noting that every RM1 spent generates over RM2 in direct output across supply chains and supporting industries. Speaking at the ASEAN Semiconductor Summit (ASEMIS) 2025, Tengku Zafrul emphasized the sector's role as a key economic multiplier. 'In total, the industry generated RM4.9 trillion in economic output last year, underscoring its role as a national multiplier,' he said. Despite global economic challenges, Malaysia's semiconductor industry continues to thrive, reinforcing the country's competitiveness in the global market. The minister pointed out that growth is no longer confined to traditional hubs like Penang and Selangor but has expanded to Kedah, Negeri Sembilan, Perak, and Sarawak. The sector's expansion is also benefiting nearly 1,000 small and medium enterprises (SMEs), which form the backbone of the semiconductor ecosystem. 'What makes this industry so vital is also its far-reaching impact,' Tengku Zafrul added. - Bernama
Barnama
5 days ago
- Business
- Barnama
Malaysia In Active Talks With US, Aims To Secure Tariff Below 20 Pct
PETALING JAYA, July 24 (Bernama) -- Malaysia is actively engaging in discussions with the United States (US) over the impending 25 per cent tariffs set to take effect on Aug 1, aiming to secure a tariff rate below the 20 per cent level, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. He said an announcement is expected once the terms are finalised. 'Discussions are ongoing. In fact, negotiations are continuing this week, so we remain on track to meet the deadline. Once the terms are agreed upon, I believe an announcement will be made,' he told reporters at the ASEAN Semiconductor Summit (ASEMIS) 2025.
The Star
5 days ago
- Business
- The Star
Malaysia's semiconductor exports remain resilient, grow at 15.7% in 1H 2025
PETALING JAYA: Malaysia's semiconductor exports remained resilient, growing 15.7 per cent in the first six months of this year alone (1H 2025), outpacing overall export growth of 3.8 per cent, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. He said that every RM1 spent triggers over RM2 in direct output across the economy through supply chains, supporting sectors, and household incomes. "In total, the industry generated RM4.9 trillion in economic output last year, underscoring its role as a national multiplier,' he said in his remarks at the ASEAN Semiconductor Summit (ASEMIS) 2025, today. Tengku Zafrul said that, amid global headwinds, the 1H 2025 performance clearly shows Malaysia's relevance and competitiveness in the global semiconductor space. He said that what is equally important is that this growth is spreading -- from Penang and Selangor to Kedah, Negeri Sembilan, Perak and Sarawak. Moreover, he said it is not just lifting big players, but also nearly 1,000 small and medium enterprises that form the bedrock of its semiconductor ecosystem. "What makes this industry so vital is also its far-reaching impact,' he said. - Bernama
New Straits Times
5 days ago
- Business
- New Straits Times
Malaysia's semiconductor exports remain resilient, grow at 15.7pct in 1H25
PETALING JAYA: Malaysia's semiconductor exports remained resilient, growing 15.7 per cent in the first six months of this year alone (1H 2025), outpacing overall export growth of 3.8 per cent, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. He said that every RM1 spent triggers over RM2 in direct output across the economy through supply chains, supporting sectors, and household incomes. "In total, the industry generated RM4.9 trillion in economic output last year, underscoring its role as a national multiplier," he said in his remarks at the ASEAN Semiconductor Summit (ASEMIS) 2025, today. Tengku Zafrul said that, amid global headwinds, the 1H 2025 performance clearly shows Malaysia's relevance and competitiveness in the global semiconductor space. He said that what is equally important is that this growth is spreading -- from Penang and Selangor to Kedah, Negeri Sembilan, Perak and Sarawak. Moreover, he said it is not just lifting big players, but also nearly 1,000 small and medium enterprises that form the bedrock of its semiconductor ecosystem. "What makes this industry so vital is also its far-reaching impact," he said.
