Latest news with #Johor-SingaporeSpecialEconomicZone
The Sun
2 days ago
- Business
- The Sun
Launch of premium yachting activities enhances Desaru Coast's appeal
PETALING JAYA: Desaru Coast's introduction of premium yachting experiences marks a strategic enhancement to its luxury tourism portfolio – an initiative welcomed by Minor International, a global leader in hospitality and real estate. Following a landmark agreement between Desaru Coast and ONE°15 Marina, a premier luxury waterfront marina based in Singapore, Malaysia's leading integrated resort destination is poised for a strategic expansion of its maritime infrastructure and high-end charter services. As a premier leisure and lifestyle hub, Desaru Coast spans 4,000 acres along the southern coastline of Johor, featuring luxury resorts, championship golf courses, a waterpark, premium residences – including Anantara Desaru Coast Residences – and a ferry terminal connecting it to Singapore. Through the new partnership, ONE°15 Marina Desaru Coast will manage both wet and dry berths at the Desaru Coast Ferry Terminal, introducing curated sailing activities for visitors and reinforcing Desaru Coast's appeal to both holidaymakers and investors. The initiative reflects increasing investor confidence in Desaru Coast. It also highlights the strengthening economic ties between Singapore and Johor, supported by the upcoming Johor-Singapore Special Economic Zone (JS-SEZ), where Desaru Coast has been identified as a flagship development area. With a focus on cutting-edge industries, the zone is expected to create 20,000 skilled jobs within its first five years and facilitate the expansion of 50 projects, driving demand for premium real estate. Strategically located within Desaru Coast, Minor International's Anantara Desaru Coast Residences is well positioned to capitalise on the momentum from the JS-SEZ development and the launch of premium yachting experiences, delivering an exceptional lifestyle proposition for discerning homeowners and visitors alike. 'With exclusive access to premium marina facilities and curated sailing experiences, residents and visitors alike can enjoy world-class hospitality, blending refined living with dynamic maritime adventures. This partnership has the potential to attract luxury segment customers, both international and local, to our property,' Minor International's chief operating officer of lifestyle and real estate, Micah Tamthai, said in a statement. The initiative aligns with Desaru Coast's long-term strategy to enhance tourism infrastructure by leveraging existing assets such as the ferry terminal. Additionally, the partnership is expected to enhance maritime access, further solidifying Desaru Coast's position as a premier gateway for exclusive seaborne travel and leisure experiences.
Barnama
2 days ago
- Business
- Barnama
JCorp Focuses On Empowering Bumiputera Entrepreneurs To Compete Within Regional Supply Chains
REGION - SOUTHERN > NEWS By Mohd Khairi Idham Amran JOHOR BAHRU, May 30 (Bernama) -- Johor Corporation (JCorp) is focused on empowering Bumiputera entrepreneurs to compete within regional supply chains linked to the Johor-Singapore Special Economic Zone (JS-SEZ). Its president and chief executive, Datuk Syed Mohamed Syed Ibrahim, said the state government-owned company provides support to Bumiputera entrepreneurs through initiatives ranging from enterprise upskilling at the Johor Skills Development Centre (Johor Skills) to procurement readiness, sectoral certification and financing support through collaborations with Tabung Ekonomi Kumpulan Usaha Niaga (TEKUN), SME Corp and Majlis Amanah Rakyat (MARA). bootstrap slideshow He emphasised that these are not standalone programmes but part of a deliberate strategy to integrate Bumiputera SMEs into high-growth sectors such as logistics, digital services, and agri-food. 'Inclusion without capability leads to dependency. We're building businesses that can stand, scale and stay relevant in tomorrow's economy,' he told Bernama in an interview recently. Syed Mohamed said JCorp is also working with partners to create industry mentorship pathways and market access platforms to ensure long-term business viability, not just short-term participation. Additionally, he said JCorp has also been planning for areas outside of JS-SEZ and the primary economic corridor to benefit from the economic development. 'We are doing so by planning from the outset for spillover, not sprawl. We plan intentionally for balanced growth, ensuring development reaches areas beyond primary corridors. 'Balanced growth requires intentional design. We don't wait for the market to trickle as we seed development where it's needed most,' he said.
Business Times
3 days ago
- Business
- Business Times
Asean-BAC to launch private-markets association in bid to attract US$60 billion regional funding
[KUALA LUMPUR] The Asean Business Advisory Council (Asean-BAC) plans to establish a regional private-markets association by year end to unlock as much as US$60 billion in private equity and venture funding to support small and medium-sized enterprises and startups across South-east Asia. Speaking at the Asean Business Forum 2025, Asean-BAC Malaysia chairman Nazir Razak said the move comes amid growing concerns that Asean's private-capital ecosystem remains underdeveloped, representing just 0.5 per cent of the region's gross domestic product – far below the global average of 1.5 per cent. He noted that the council has been working with the governments of Malaysia, Singapore, Thailand and Indonesia to formalise the Asean Private Markets Association. The entity will serve as a platform to advise governments on policy reforms aimed at unlocking long-term capital. 'The idea is to help shape policies that support the growth of private markets in Asean,' Nazir told reporters on Thursday (May 29) after delivering his keynote address. 'Without reforms, capital will remain fragmented and difficult to monetise.' Beyond private markets, Asean-BAC is also pushing for the creation of an Asean Business Entity – a proposed classification that would allow companies to operate across member states with greater flexibility, said Nazir. He added that the new framework would facilitate cross-border outsourcing and mobility of talent, helping businesses tap the region's collective advantages. A NEWSLETTER FOR YOU Friday, 8.30 am Asean Business Business insights centering on South-east Asia's fast-growing economies. Sign Up Sign Up Despite the ambitious plans and growing investor interest, panellists at the forum acknowledged that execution remains a major hurdle. 'When I mention the lack of execution in Asean, I'm not just pointing at governments or the regional organisation,' pointed out Nazir. 'The private sector has also fallen short. Are we doing the right deals – whether in mergers and acquisitions, supply chains, or trade? I don't think so.' He added that the momentum behind regional corporate champions has slowed since the late 2000s, raising questions about whether Asean is still fulfilling its potential to attract global capital. The evolving consensus-based model Khairy Jamaluddin, director of CGS International, said Asean's traditional model of consensus-based decision-making has long been a double-edged sword. 'There is no agreement until everyone agrees,' he noted, adding that such a move has slowed progress in many areas. However, Khairy said the region is beginning to evolve beyond rigid consensus. 'We're starting to see a 'consensus-plus' approach, where like-minded countries move forward together even if the full bloc isn't on board.' OCBC chief economist Selena Ling said this approach is already bearing fruit. She cited the Asean Power Grid and the Johor-Singapore Special Economic Zone (JS-SEZ) as examples of cross-border initiatives that demonstrate scalable cooperation among willing member states. 'Asean cooperation may be slow, but it is steady,' Ling noted. 'Intra-region trade is still relatively low – around 21 per cent of total trade, compared to 60 per cent in the European Union – but there's growing potential through cross-border investments and government-to-government partnerships.' The JS-SEZ, launched earlier this year, has created new economic opportunities for both Malaysia and Singapore, and is now being viewed as a potential template for broader regional collaboration. Singapore plays a key role in region In a separate panel discussion, Rachel Eng, council member of Asean-BAC Singapore, said the region's cohesion will be critical in navigating rising geopolitical and economic challenges. 'Singapore stands together with our Asean brothers and sisters. If others in the region suffer, we suffer too,' she added. Eng pointed out that while Singapore remains the largest recipient of foreign direct investment in the region, a substantial portion of that capital is routed to other Asean countries. She highlighted Singapore's strengths as an efficient financial centre, citing its 80-plus double-taxation agreements. 'It's very easy to set up a business here… we have no exchange controls, and our system is entirely rules-based. Yet, much of this capital finds its way into Malaysia, Vietnam, Indonesia, and our other neighbours.' Eng sees Singapore playing a critical role in facilitating stronger investment flows to Asean. 'Regardless of tariffs, we will remain open, transparent, and committed to deepening our financial ties with the region.' During the forum, China Galaxy Securities (CGS) and CGS International Securities Group signed five strategic memorandums of understanding with regional partners. Among them was a deal with Bursa Malaysia and Shanghai-based Fullgoal Asset Management to facilitate the listing of foreign-underlying exchange-traded funds on Bursa Malaysia, offering local investors broader exposure to global markets. CGS and CGS International also signed a letter of intent for the China-Asean Investment Programme aimed at establishing a private-equity fund to invest in high-growth sectors including healthcare, semiconductors, renewable energy and agriculture. The fund, with Malaysia as a key regional anchor, is designed to facilitate the transfer of technology and industry expertise from China to Asean.
New Straits Times
3 days ago
- Business
- New Straits Times
JCorp actively redefining Johor's economic architecture, according to its chief
JOHOR BAHRU: Johor Corporation (JCorp) is actively redefining Johor's economic architecture beyond traditional sectors by shaping the next wave of industry platforms, from advanced manufacturing and food tech to digital infrastructure, circular economy systems and artificial intelligence (AI)-enabled agriculture. President and chief executive Datuk Syed Mohamed Syed Ibrahim said that through these, the state government-owned company is building industries and shaping a responsible, future-ready economy. "JCorp is focused on execution-building ecosystems, enabling capital flows and driving long-term growth aligned with Maju Johor 2030." "We are not waiting for growth to happen, we are shaping its direction through bold investments, system-level design and long-term execution," he told Bernama in an interview recently. He said as Johor accelerates into a new economic chapter shaped by global megatrends and catalysed by the Johor-Singapore Special Economic Zone (JS-SEZ), JCorp is strategically placed to function as an enabler of growth and collaboration. "We are leveraging the JS-SEZ to position Johor as a high-value innovation corridor. With Singapore on our doorstep, Johor has the advantage of proximity and potential, making it ideal for next-generation industries such as electrical and electronics, digital economy, green economy, halal industry, food technology, agritech and renewable energy. "Our single most strategic initiative within the JS-SEZ, Ibrahim Technopolis (IBTEC), is poised to generate strong multiplier effects, particularly in job creation and business opportunities," he said. He said IBTEC is designed to support infrastructure development, innovation clusters and platforms in line with sustainability principles and the New Industrial Master Plan (NIMP) 2030. Syed Mohamed said JCorp is also working closely with agencies such as the Malaysian Investment Development Authority (MIDA) and Invest Johor to streamline investor facilitation and enable regulatory alignment. He said JS-SEZ provided a foundation for inclusive industrialisation and JCorp is prioritising initiatives that create entry points for local talent and businesses within this framework while also attracting high-impact global players. "JCorp sees both tracks as essential. We are investing in the growth of Johor-based companies to scale regionally while building the infrastructure and conditions to attract high-impact global players," he said. He said JCorp's role is to develop industrial ecosystems that allow Johor-based companies to scale by connecting them to international markets as well as enabling infrastructure and collaborative platforms. Elaborating further, he said these environments are designed not just to host businesses but to help them grow through co-location, shared services and innovation-driven partnerships. "At the same time, we are curating environments where foreign investors don't simply extract value but contribute meaningfully to the local economy through technology transfer, supplier integration and talent development "Foreign partnerships matter but scaling local champions is how Johor wins," he said. Syed Mohamed said JCorp is also actively participating in talent development to ensure an ample supply of workforce. "Critically, we are ensuring that talent development keeps pace. Johor Skills Development Centre and our partnership with the Johor Talent Development Council (JTDC) are building a robust talent pipeline through targeted technical education and cross-border industry immersion programmes. He said Johor Skills is delivering modular programmes focused on sectors such as advanced manufacturing, renewable energy and data infrastructure. "In collaboration with Republic Polytechnic and the Institute of Technical Education Singapore, we aim to upskill or reskill 10,000 workers per year by 2027 to support sector-specific workforce readiness in the JS-SEZ," he said. JS-SEZ is a joint initiative by Malaysia and Singapore to create a dynamic and competitive economic hub in Johor by leveraging synergies between both countries with the aim of attracting investment, enhancing connectivity and fostering inclusive growth through tax incentives, infrastructure development and streamlined business processes.
Straits Times
4 days ago
- Business
- Straits Times
Economy Minister Rafizi resigns from PM Anwar's Cabinet after losing in PKR polls
Economy Minister Rafizi Ramli has resigned from Cabinet on May 28, as promised after losing the Parti Keadilan Rakyat deputy presidency. PHOTO: BERNAMA – Economy Minister Rafizi Ramli resigned from Cabinet on May 28, as promised, after suffering defeat at the hands of Prime Minister Anwar Ibrahim's daughter at the ruling party's polls on May 23. His departure, to take effect on June 17, will leave a gap at a time when Malaysia's economic reforms are stalling due to global headwinds. Datuk Seri Rafizi's ally, Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad, also announced his exit from Cabinet effective July 4, confirming a report by The Straits Times. He cited his failure to defend his position as one of four vice-presidents for stepping down. Mr Rafizi and Mr Nik Nazmi will be on leave immediately. In the campaign leading up to Parti Keadilan Rakyat's (PKR) internal elections, Mr Rafizi had said that he would leave Cabinet should he fail to defend the deputy presidency. Ms Nurul Izzah Anwar took close to three quarters of the vote. Most of those in Mr Rafizi's slate were also defeated in the polls, which were marred by accusations of nepotism, money politics and fraud. 'I joined politics to inculcate a new political culture based on accountability and the people's mandate. My loss at the recent PKR elections means I no longer have the mandate from my party to translate the people's agenda,' he said in a statement on May 28. Mr Rafizi noted that the practice in any nation that places importance on democratic principles is for leaders who lose in party polls to make way for the winners to take positions in government. Ms Nurul, in addressing allegations of nepotism when announcing her candidacy for the PKR's No. 2 spot on May 9, had said: 'I am not interested in a Cabinet position.' The 44-year-old former parliamentarian said in response to Mr Rafizi's resignation: 'His ideas will not be forgotten but will be continued, refined and implemented, not because they came from him or myself but because they are what is best for Malaysia.' Mr Rafizi's resignation leaves his former ministry, which is charged with economic planning, in the lurch ahead of the parliamentary tabling of the 13th Malaysia Plan, a five-year development blueprint, that must now be helmed by his replacement less than two months before the federal legislature reconvenes. 'My final duty as economy minister has been completed, with the 13th Malaysia Plan finalised and now set to be tabled at the next Parliament sitting. I hope the Cabinet retains several bold reforms that involve the Education Ministry,' Mr Rafizi said. Among major projects spearheaded by him were subsidy rationalisation across a broad spectrum of products, especially energy, progressive wages and the Johor-Singapore Special Economic Zone (JS-SEZ). After the planning phase, these initiatives are usually handed over to the relevant ministries. Investors are still waiting on final blueprints for the JS-SEZ's nine flagship zones to boost growth, while a closely watched revamp of the entry-level RON95 petrol price is still being fine-tuned. Mr Nik Nazmi was also a key figure in the retargeting of electricity subsidies before the energy portfolio was handed over to Deputy Prime Minister Fadillah Yusof. Datuk Seri Anwar has thus far not responded to the two ministers quitting his administration, but he had earlier on May 28 replied to reporters 'who told you?' when asked if Mr Rafizi was leaving Cabinet. The PKR president could avoid an immediate reshuffle by appointing acting ministers from the existing Cabinet members. By the end of 2025, he will also have to select a new investment, trade and industry minister as Tengku Zafrul Aziz's final term as senator ends. Aside from picking the best people for the respective portfolios, selecting a Cabinet that is representative of the ruling alliance is a difficult juggling act due to the disparate nature of his multi-coalition government of former bitter foes. Shannon Teoh is The Straits Times' bureau chief for Malaysia, where he has reported on various beats since 1998. Join ST's Telegram channel and get the latest breaking news delivered to you.
