Latest news with #ASW
The Hindu
14 hours ago
- Business
- The Hindu
Keel laying of eighth anti-submarine warfare ship held
The keel laying of the eighth anti-submarine warfare (ASW) ship being built for the Indian Navy was held at Cochin Shipyard Limited (CSL) by Vice Admiral Rajaram Swaminathan, Controller of Warship Production and Acquisition, on May 29, 2025. Among those present were Madhu S. Nair, Chairman and Managing Director, CSL, and Rear Admiral Vishal Bishnoi, Assistant Controller of Warship Production and Acquisition. The contract for building eight ASW ships was signed between the Ministry of Defence (MoD) and CSL on 30 April 2019. The Mahe class of ships will replace the in-service Abhay class ASW corvettes of the Indian Navy and are designed to undertake anti-submarine operations in coastal waters, low-intensity maritime operations, mine-laying operations, and subsurface surveillance. The vessels are capable of a maximum speed of 25 knots and have an endurance of 1,800 nautical miles. They are fitted with indigenously developed, state-of-the-art sonars for underwater surveillance. This exemplifies India's capability to manufacture high-end, technology-intensive warships with a high indigenous content under the 'Aatmanirbhar Bharat' initiative.
Malaysian Reserve
3 days ago
- Business
- Malaysian Reserve
Tengku Zafrul urges ASEAN to focus on resilience, digital trade
By HIDAYATH HISHAM BUSINESSES must now incorporate resilience, agility and adaptability into their long-term strategies to navigate global supply chain disruptions. Investment, Trade and Industry Minister Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz said the increasingly volatile global landscape — driven by geopolitical tension — demands that regional cooperation play a central role in ensuring supply chain continuity. 'In today's globalised economy, supply chain disruptions resulting from geopolitical tensions have become the norm. Businesses must now plan for resilience, agilit and adaptability,' he said during the Supply Chain City Malaysia groundbreaking ceremony in Bandar Bukit Raja, Klang on Thursday. Tengku Zafrul said under Malaysia's leadership, ASEAN is poised to tackle key challenges such as digital transformation, climate change and ongoing recovery from global crises. He said Malaysia is working with its ASEAN counterparts to implement the ASEAN Comprehensive Recovery Framework (ACRF) — aimed at enabling a robust and sustainable economic recovery across the region. One of the core priorities under ACRF is strengthening the ASEAN Single Window (ASW), a trade facilitation platform that integrates and streamlines customs and clearance procedures across member states. 'By reducing bureaucracy and improving trade efficiency, the ASW will play a pivotal role in strengthening regional supply chains and boosting intra-ASEAN trade, which currently accounts for nearly 25% of total ASEAN trade,' he said. Malaysia is also pushing for the ASEAN Digital Economy Framework Agreement (DEFA), which aims to harmonise digital trade regulations and accelerate cross-border e-commerce adoption across the region. 'This initiative will not only enhance digital connectivity but also create new opportunities for businesses and consumers across ASEAN,' he added. Tengku Zafrul said the government remains committed to fostering stronger partnerships within ASEAN, citing the recently concluded ASEAN–GCC–China Summit as a key example of regional coordination. 'This summit sent a clear message to the world, that ASEAN is open for business and we are ready to lead in building a more resilient and interconnected global economy,' he said. He also mentioned ASEAN's growing significance in global trade, noting its combined GDP of over US$3.6 trillion (RM15.26 trillion) and population of more than 680 million people. 'As the world's fifth-largest economy, ASEAN is a critical player in the global supply chain, accounting for nearly 7% of global trade,' he added. Tengku Zafrul said the Supply Chain City Malaysia reflects Malaysia's aspirations to elevate its logistics industry through automation, artificial intelligence (AI)-driven systems and sustainable growth, while enhancing trade efficiency and connectivity across the region.
The Sun
4 days ago
- Business
- The Sun
Supply chain challenges demand resilience and agility from businesses
KLANG: Businesses are encouraged to integrate resilience, agility and adaptability into their strategies to navigate global supply chain disruptions, as geopolitical tensions have become increasingly common in today's globalised economy. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the current landscape demands regional cooperation in maintaining supply chain continuity. He reaffirmed Malaysia's commitment as a key player in ASEAN to foster stronger regional partnerships to address these challenges. 'Just a couple of days ago, we concluded the ASEAN-GCC-China Summit, a historic gathering that showcased the strength and coordination of ASEAN in navigating global challenges. 'The summit sent a clear message to the world, ASEAN is open for business, and we are ready to lead in building a more resilient and interconnected global economy,' he said at the groundbreaking ceremony of Singapore-based YCH Group's smart logistics complex, Supply Chain City Malaysia, here today. The minister added that Malaysia is working with its ASEAN partners to implement the ASEAN Comprehensive Recovery Framework (ACRF), which aims to enable robust and sustainable economic recovery across the region. Tengku Zafrul said that one of Malaysia's priorities is to enhance the ASEAN Single Window (ASW), a digital platform designed to streamline trade processes among member states by reducing bureaucracy and improving trade efficiency. 'The ASW will play a pivotal role in strengthening regional supply chains and boosting intra-ASEAN trade, which currently accounts for nearly 25 per cent of total ASEAN trade,' he said. Tengku Zafrul highlighted that Malaysia is also pushing for the ASEAN Digital Economy Framework Agreement (DEFA), which aims to harmonise digital trade regulations and accelerate cross-border e-commerce adoption across the region. He said ASEAN's growing importance in global trade, noting its combined GDP of over US$3.6 trillion and population of more than 680 million people. 'As the world's fifth-largest economy, ASEAN plays a critical role in the global supply chain, accounting for nearly seven per cent of global trade,' Tengku Zafrul said.
The Sun
4 days ago
- Business
- The Sun
Supply chain challenges demand resilience, agility from businesses
KLANG: Businesses are encouraged to integrate resilience, agility and adaptability into their strategies to navigate global supply chain disruptions, as geopolitical tensions have become increasingly common in today's globalised economy. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the current landscape demands regional cooperation in maintaining supply chain continuity. He reaffirmed Malaysia's commitment as a key player in ASEAN to foster stronger regional partnerships to address these challenges. 'Just a couple of days ago, we concluded the ASEAN-GCC-China Summit, a historic gathering that showcased the strength and coordination of ASEAN in navigating global challenges. 'The summit sent a clear message to the world, ASEAN is open for business, and we are ready to lead in building a more resilient and interconnected global economy,' he said at the groundbreaking ceremony of Singapore-based YCH Group's smart logistics complex, Supply Chain City Malaysia, here today. The minister added that Malaysia is working with its ASEAN partners to implement the ASEAN Comprehensive Recovery Framework (ACRF), which aims to enable robust and sustainable economic recovery across the region. Tengku Zafrul said that one of Malaysia's priorities is to enhance the ASEAN Single Window (ASW), a digital platform designed to streamline trade processes among member states by reducing bureaucracy and improving trade efficiency. 'The ASW will play a pivotal role in strengthening regional supply chains and boosting intra-ASEAN trade, which currently accounts for nearly 25 per cent of total ASEAN trade,' he said. Tengku Zafrul highlighted that Malaysia is also pushing for the ASEAN Digital Economy Framework Agreement (DEFA), which aims to harmonise digital trade regulations and accelerate cross-border e-commerce adoption across the region. He said ASEAN's growing importance in global trade, noting its combined GDP of over US$3.6 trillion and population of more than 680 million people. 'As the world's fifth-largest economy, ASEAN plays a critical role in the global supply chain, accounting for nearly seven per cent of global trade,' Tengku Zafrul said.
New Straits Times
4 days ago
- Business
- New Straits Times
Malaysia ready to lead partnerships to address supply chain disruptions: Tengku Zafrul
KLANG: Malaysia is ready to foster and lead regional partnerships to tackle the challenges posed by supply chain disruptions stemming from geopolitical tensions, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Aziz. Malaysia recently concluded the Asean-GCC-China Summit, which highlighted Asean's unity and ability to address global challenges effectively, Tengku Zafrul said. "This summit sent a clear message to the world: Asean is open for business, and we are ready to lead in building a more resilient and interconnected global economy," he said at the groundbreaking ceremony of YCH Group's Supply Chain City Malaysia (SCC MY) today. He added that Asean, guided by Malaysia's leadership, is ready to tackle critical issues including supply chain disruptions, digital transformation and climate change. "We are working closely with our Asean partners to implement the Asean Comprehensive Recovery Framework (ACRF), which aims to ensure a robust and sustainable recovery from the economic impacts of recent global crises. "One of our key priorities is to enhance the Asean Single Window (ASW), a digital platform that streamlines trade processes across member states," he added. Tengku Zafrul said by reducing bureaucracy and enhancing trade efficiency, the ASW will be instrumental in reinforcing regional supply chains and increasing intra-Asean trade, which presently makes up nearly 25 per cent of total Asean trade. He added that Malaysia is leading the development of the Asean Digital Economy Framework Agreement (DEFA), aimed at harmonising digital trade regulations and encouraging cross-border e-commerce. "This initiative will not only enhance digital connectivity but also create new opportunities for businesses and consumers across the region," Tengku Zafrul said. Singapore-based YCH held a groundbreaking ceremony today for its largest supply chain facility in Bandar Bukit Raja, Selangor. Situated within Sime Darby Property Bhd's Bukit Raja township, the RM500 million project demonstrates YCH's strong long-term commitment to advancing Malaysia's role in regional supply chain development.
