Latest news with #Esteel
Borneo Post
3 days ago
- Business
- Borneo Post
Malaysia to continue negotiations with US on tariffs, says Anwar
Anwar speaking at the launch of Esteel Enterprise Sabah Sdn Bhd Phase 1 on Friday. KOTA KINABALU (May 30): Malaysia maintains its stance on negotiation to resolve the issue of tariffs imposed by the administration of US President Donald Trump. Prime Minister Datuk Seri Anwar Ibrahim said negotiations are crucial to ensuring strong Malaysia-US bilateral relations, as the US is Malaysia's third-largest trading partner after Singapore and China. 'We live in challenging times where we face significant direct and indirect impacts from the tariffs announced by the US. However, let's look at this positively — we will continue negotiations because the US is a key investor in Malaysia. American investments are among the highest in Malaysia, and we must maintain good relations with them,' he said at the launch of Esteel Enterprise Sabah Sdn Bhd (Esteel) Phase 1 on Friday. Anwar stressed that Malaysia's position is also important to ensure that any trade agreements or tariffs are fair and comply with international laws. 'I will meet with US officials and also Singaporean President Lawrence Wong to discuss Malaysia-Singapore dialogue, showing that both nations will maintain strong ties as key trading partners,' he explained. He added that Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz had also gone to the US to negotiate, presenting Malaysia's stance alongside ASEAN nations, as well as Korea, Japan, and China, which support bilateral trade relations and oppose unilateral actions.
Borneo Post
3 days ago
- Business
- Borneo Post
Esteel's RM31 bln project major economic milestone for Sabah - Hajiji
Prime Minister Datuk Seri Anwar Ibrahim and Chief Minister Datuk Seri Panglima Hajiji Noor with the Esteel top guns KOTA KINABALU (May 30): The RM31 billion three-phase project by Esteel Enterprise Sabah Sdn Bhd at the Sipitang Oil and Gas Industrial Park (SOGIP) represents a significant milestone for Sabah as the state seeks to explore new horizons and realise its full potential. Chief Minister Datuk Seri Hajiji Noor said that the project will create jobs and improve the livelihoods of people in Sipitang and the entire state. 'I want all industry players to invest in the training and development of our local workforce and to comply with this fundamental requirement as a core principle of our commitment to local development,' he said. Hajiji made these remarks during the launch of Esteel's RM6.4 billion Phase One project at the Sabah International Convention Centre (SICC), here on Friday. Prime Minister Datuk Seri Anwar Ibrahim officiated the launch. The chief minister emphasised the importance of prioritising Sabahans to ensure the local workforce possesses the necessary skills and knowledge to meet industry demands. Hajiji reaffirmed that Sabah will maintain its investor-friendly stance, noting that the state has implemented policies to attract more investors. 'We are committed to creating a conducive environment that nurtures investments and fosters collaboration,' he said, adding that besides SOGIP, the Kota Kinabalu Industrial Park has seen increased tenancy over the past four years. Due to high investor demand, Hajiji said the state government has approved three new industrial parks in Kota Belud, Beaufort, and Kudat for the Blue Economy Industrial Park. 'We understand the importance of creating a stable, transparent, and supportive environment for investments to flourish,' Hajiji noted. —Bernama
