Latest news with #IMFC-J
New Straits Times
19-05-2025
- Business
- New Straits Times
Johor eyes over RM50bil in FDI for 2025, driven by JS-SEZ momentum
KUALA LUMPUR: The Johor state government is confident of surpassing RM50 billion in foreign direct investments (FDI) by year-end, exceeding the RM48.5 billion recorded in 2024. Menteri Besar Datuk Onn Hafiz Ghazi credited this positive outlook to the rising prominence of the Johor-Singapore Special Economic Zone (JS-SEZ), which he described as a major catalyst for investment inflows and economic transformation in the state. "The JS-SEZ is not just a concept on paper but has proven to be a convincing investment magnet. Investor confidence in Johor's future continues to strengthen," he said. Onn Hafiz revealed that Johor recorded approved investments amounting to RM27.4 billion in the first quarter of 2025—equivalent to what was achieved over the first nine months of the previous year. He added that the state has an additional RM23 billion in potential investments that are expected to be finalised by the end of this quarter. "If this momentum continues, I believe Johor can achieve between RM50 billion and RM60 billion in investments this year, placing the state among the top three investment destinations in the country," he said during the JS-SEZ Strategic Partners' Dialogue: Advancing Facilitation yesterday. "I'm confident that Johor could rival Klang Valley in the next decade," he added. He also highlighted that attracting investments goes beyond opportunities alone, relying heavily on an efficient and strategic facilitation system. "To this end, the state government, in collaboration with the Ministry of Investment, Trade, and Industry (MITI) and related agencies, launched the Johor Malaysia Investment Facilitation Centre (IMFC-J) in February this year. "This pioneering initiative serves as a one-stop centre jointly managed by the Iskandar Regional Development Authority (IRDA), Invest Johor, and the Malaysian Investment Development Authority (MIDA) to expedite investment processes within the JS-SEZ," he explained. As of now, IMFC-J has received over 300 investor enquiries, including 100 specifically related to the Forest City Special Financial Zone. He further noted that five major investment projects worth RM16.5 billion have been fully facilitated by IMFC-J, with approval processes streamlined from three months to as little as one to 35 days. "Currently, negotiations are actively underway with 47 investors from Singapore, China, and South Korea, involving potential investments worth RM40.1 billion. "IMFC-J is not just about attracting interest but ensuring that this interest materialises into actual investments—and that is precisely what we are achieving now," he added.
New Straits Times
13-05-2025
- Business
- New Straits Times
Johor clarifies JS-SEZ amid fears of local marginalisation
ISKANDAR PUTERI: Johor state government is finalising a detailed roadmap for the Johor-Singapore Special Economic Zone (JS-SEZ), following growing calls from business leaders for clearer policy direction, regulatory details and local inclusion. State investment, trade and consumer affairs committee chairman Lee Ting Han said the government welcomes the feedback and is taking concrete steps to enhance transparency and accessibility for investors, including local entrepreneurs. "We recognise the need for greater clarity. A comprehensive JS-SEZ roadmap will be released this year, outlining sectoral focus, regulatory frameworks, infrastructure development and incentives," Lee told the New Straits Times when contacted today. Lee was responding to recent concerns raised by local industry players, including the Johor Associated Chinese Chambers of Commerce and Industry president, who said many foreign investors remain in the dark over the SEZ's 11 focus areas and their respective industrial applications. Johor has since launched the official Invest Malaysia Facilitation Centre Johor (IMFC-J) website - to provide up-to-date information and investor guidance. Lee said the IMFC-J office in Forest City has received over 400 investment enquiries since the start of the year, reflecting strong momentum. He also sought to allay fears that local businesses may be sidelined amid rising costs, wage competition and multinational dominance. "We are committed to ensuring local SMEs and entrepreneurs are part of this journey. Targeted programmes are being explored to link local supply chains with global companies," he said, urging for "further engagement to ensure inclusive, broad-based growth." His remarks come after Johor business chambers cautioned that local players risk being left behind if timely information and support mechanisms are not in place. The association president Datuk Jeffrey Lai voiced his concerns to the media. Lai acknowledged that JS-SEZ is a golden opportunity to attract global capital, but emphasised that it must also uplift homegrown businesses - particularly micro and small enterprises, which form the bulk of Malaysia's business ecosystem. He also called for equal support, citing that SMEs are not footloose like multinationals. They are rooted in Johor, and they need guidance, financing and access, he said. Meanwhile, Johor Bumiputera Chambers of Entrepreneurs and Traders vice-president Datuk Abd Latif Bandi echoed Lai's sentiments. He warned that local businesses, especially startups may risk missing out on first-mover advantages. "There are opportunities in logistics, printing, and supply chain support. But clearer guidelines and business matching are needed," he said. Latif also called for regulatory flexibility and swifter updates to financial status records that can affect loan eligibility, saying that unnecessary delays are hurting genuine businesses trying to grow. Lee, however, maintained that competition from foreign entrants should be seen as an opportunity to uplift local standards and incomes. "In the long run, inviting healthy competition may raise wages and create better opportunities for all," he said.
New Straits Times
13-05-2025
- Business
- New Straits Times
JS-SEZ Blueprint in the works, Johor vows local support
ISKANDAR PUTERI: The Johor state government is finalising a detailed roadmap for the Johor-Singapore Special Economic Zone (JS-SEZ), following growing calls from business leaders for clearer policy direction, regulatory details and local inclusion. State Investment, Trade and Consumer Affairs committee chairman Lee Ting Han said the government welcomes the feedback and is taking concrete steps to enhance transparency and accessibility for investors, including local entrepreneurs. "We recognise the need for greater clarity. "A comprehensive JS-SEZ roadmap will be released this year, outlining sectoral focus, regulatory frameworks, infrastructure development and incentives," said Lee when contacted today. Lee was responding to recent concerns raised by local industry players, including Johor Associated Chinese Chambers of Commerce and Industry (JACCI) president Datuk Jeffrey Lai, who said many foreign investors remain in the dark over the SEZ's 11 focus areas and their respective industrial applications. Johor has since launched the official Invest Malaysia Facilitation Centre Johor (IMFC-J) website, to provide up-to-date information and investor guidance. Lee said the IMFC-J office in Forest City has received over 400 investment enquiries since the start of the year, reflecting strong momentum. He also sought to allay fears that local businesses may be sidelined following rising costs, wage competition and multinational dominance. "We are committed to ensuring local SMEs and entrepreneurs are part of this journey. "Targeted programmes are being explored to link local supply chains with global companies," he said, urging further engagement to ensure inclusive, broad-based growth. His remarks come after Johor business chambers cautioned that local players risk being left behind if timely information and support mechanisms are not in place. Lai said the JS-SEZ is a golden opportunity to attract global capital but emphasised that it must also uplift homegrown businesses, particularly micro and small enterprises, which form the bulk of Malaysia's business ecosystem. He also called for equal support, citing that SMEs are not footloose like multinationals. "They are rooted in Johor, and they need guidance, financing and access," he said. Johor Bumiputera Chambers of Entrepreneurs and Traders vice-president Datuk Abd Latif Bandi echoed Lai's sentiments. He warned that local businesses, especially startups, risk missing out on first-mover advantages. "There are opportunities in logistics, printing and supply chain support. But clearer guidelines and business matching are needed," he said. Latif also called for regulatory flexibility and swifter updates to financial status records that can affect loan eligibility, saying that unnecessary delays are hurting genuine businesses trying to grow. Lee, however, maintained that competition from foreign entrants should be seen as an opportunity to uplift local standards and incomes. "In the long run, inviting healthy competition may raise wages and create better opportunities for all," he said.
New Straits Times
30-04-2025
- Business
- New Straits Times
JS-SEZ to bolster Asean supply chain, drive regional innovation
KUALA LUMPUR: The Johor-Singapore Special Economic Zone (JS-SEZ) is poised to play a key role in enhancing Asean's supply chain efficiency and resilience, thanks to its strategic location, said CIMB Securities Sdn Bhd. Seen as a key driver of Asean's shift from globalised to regionally integrated supply chains, the JS-SEZ is expected to transform Malaysia and Singapore from conventional manufacturing centres into thriving hubs of innovation and technology. CIMB Securities noted that 80 per cent of Johor's approved investments in 2024 were located within the JS-SEZ, including RM23 billion worth of new projects recorded in April 2025 alone—building on the RM27.4 billion in investments secured during the first quarter of the year. "About 560 investment schemes from over 700 projects approved for Johor by the Malaysian Industrial Development Authority (MIDA) in 2024 were in the JS-SEZ. "Of these, more than 50 projects are in the high-value, high-growth sectors, such as medical and semiconductor industries," it said in a note after attending the JS-SEZ joint business and investment forum on April 21-22. To accelerate development, CIMB Securities said Malaysia established the Invest Malaysia Facilitation Centre-Johor (IMFC-J), cutting investment lead times by 10 months. Singapore, meanwhile, has formed a joint agency to aid company expansion into the zone. The firm also highlighted the importance of accelerating infrastructure development in the region, including the JB-Singapore RTS Link, which is expected to launch by end-2026, and the upcoming Johor e-ART transit system that is drawing strong investor interest. CIMB Securities noted that property and construction players such as Sunway, IJM, UEM Sunrise and Mah Sing are set to benefit. Sunway, for instance, is developing an RM2.6 billion transit-oriented development near the Bukit Chagar RTS station. Meanwhile, UEM Sunrise and GuocoLand's memorandum of understanding could unlock the long-term value of UEM Sunrise's development pipeline in Johor, particularly the group's industrial land bank. According to the firm, UEM Sunrise is building a 16-hectare renewable energy park at its proposed industrial park in Precinct 2 of Gerbang Nusajaya. At Sunway City Iskandar Puteri, the first warehouse at the carbon-neutral Equalbase Sunway 103 commercial zone, with an indicative gross development value of RM8 billion, is already under construction. "In our view, these sustainable-friendly initiatives are in tandem with Malaysia's aspirations to promote green industrial parks that supply renewable energy, for which roughly 100 companies are keen to lend their expertise," CIMB Securities added. To retain and attract talent, the firm said an attractive income tax rate of 15 per cent over 10 years is offered for knowledge workers employed in the JS-SEZ. This forms part of the Johor government's efforts to fill the 100,000 quality jobs expected to be curated under the JS-SEZ, in addition to offering attractive starting salaries of RM4,000–5,000 a month.
The Star
23-04-2025
- Business
- The Star
32 local, foreign companies show interest in opening business operations in Forest City SFZ
Johor investment, trade, consumer affairs and human resources committee chairman Lee Ting Han. JOHOR BAHRU: A total of 32 local and foreign companies, including those from Singapore and Thailand, have expressed interest in opening business operations in the Forest City Special Financial Zone (SFZ). Chairman of the Johor Investment, Trade, Consumer Affairs, and Human Resources Committee, Lee Ting Han, said that 19 companies from the three countries, including Malaysia, have shown interest in establishing family offices, with two already receiving approval from the Securities Commission Malaysia (SC). "The renowned Malaysian investment company, CMY Capital and Yow Kee Family Office, have obtained SC approval, making them the first group to open family offices that will operate in Forest City SFZ," he said in a statement today. He said the opening of the two companies would have a direct impact, with more family offices and financial institutions expected to begin operations in Forest City this year. According to him, this achievement also reflects that all the planning by the state and federal governments to ensure the success of Forest City as an SFZ and the Johor-Singapore Special Economic Zone (JS-SEZ), more broadly, is on the right track. Lee said the Ministry of Finance is currently finalising the incentive package announced earlier. "This includes a zero corporate tax rate for family offices, a corporate tax rate of zero to five per cent for businesses, and an average income tax rate of 15 per cent for highly skilled workers, which is expected to be enforced soon. "During that period, accepted applications will be processed individually to expedite approvals and simultaneously attract more investments to SFZ," he said. Lee noted that the recent visit of Chinese President Xi Jinping to Malaysia brought significant development opportunities, particularly in economic and trade cooperation between the two countries, thereby providing further investment prospects for Johor, including the Forest City SFZ. "His Majesty, Sultan Ibrahim, the King of Malaysia, stated that there is great potential for companies and investors from China to explore opportunities in Malaysia, aligning with the interests of regional connectivity and high-quality development under China's 'Belt and Road' Initiative," he said. Therefore, he said the Malaysia Investment Facilitation Centre in Johor (IMFC-J) has been established as a one-stop centre for investors, where an account manager is assigned to review each investment file and profile. "The role of the account manager is to facilitate transactions between investors and local authorities, federal government agencies, and utility companies," he said. Lee added that since January 2025, the IMFC-J office has received more than 250 enquiries from interested investors. - Bernama
