Latest news with #MICCI
The Sun
11 hours ago
- Business
- The Sun
Penang stays resilient, innovative amid world trade tensions
GEORGE TOWN: Penang has reaffirmed its commitment to resilience, innovation, and maintaining global competitiveness amid world's trading environment which remains tense, said Chief Minister Chow Kon Yeow. He said during the Malaysian International Chamber of Commerce and Industry (MICCI) Northern Annual Luncheon Dialogue 2025 here today that Penang remains open for business, innovation and collaboration because the state has always been about resilience. 'From our trading port roots to our rise as a global electronics and innovation hub, we have learned to pivot when the world shifts and this moment is no different. Our economy is tightly integrated into global supply chains whether it's semiconductors, electronics, precision tools or medical devices. 'So when shocks happen, they are felt in Bayan Lepas and Batu Kawan just as much as in Shanghai (China) or San Jose (California). But I always say, we must look for silver linings, not all is doom and gloom,' he said. Chow pointed out that multinational firms reassess their regional footprints and many are looking to move into more politically stable, efficient and transparent ecosystems. Thus, Penang with robust infrastructure, skilled workforce, and business-friendly environment is a natural choice, he said. He also praised Malaysia's proactive diplomatic efforts due to indications that tariffs on Malaysian goods may be capped at 10 per cent as opposed to the feared 24 per cent or more by US President Donald Trump. 'As our Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz rightly pointed out, this is a favourable shift and one that reflects, in part, Malaysia's proactive diplomatic efforts. 'I applaud the Prime Minister (Datuk Seri Anwar Ibrahim) for taking a direct and decisive approach, including writing personally to Trump to propose a US-ASEAN Special Summit. This shows that Malaysia is not just reacting but taking leadership in shaping trade outcomes for the region,' he added. The luncheon were also attended by MICCI Northern Branch chairman Datuk Brian Tan Guan Hooi together with 200 attendees from various industries and related sectors.
The Sun
11 hours ago
- Business
- The Sun
Penang on track for large scale projects, pledge effective traffic management
GEORGE TOWN: The Penang state government has assured that effective traffic management strategies will be implemented to minimise disruptions during the construction of upcoming large scale projects. Chief Minister Chow Kon Yeow said the projects including Penang South Islands (PSI) project, the Mutiara Line Light Rail Transit (LRT) and the Juru-Sungai Dua Elevated Highway may cause temporary traffic congestion but it is a part of the development process. 'Many years ago when our team visited Gamuda in Kuala Lumpur, where they were at that time implementing the LRT project, we were introduced to the various traffic management strategies and a program that they managed at that time during the construction phase. 'I believe all contractors appointed for this massive project in Penang will take note of traffic dispersal and the key consideration is to maintain the number of lanes during construction, despite having to take away certain parts of the roads away from the vehicles, additional space would have to be created so that the original number of lanes will be retained,' he said. Chow said this while responding to questions during the Malaysian International Chamber of Commerce and Industry (MICCI) Northern Annual Luncheon Dialogue 2025, here today and also attended by MICCI Northern Branch Chairman Datuk Brian Tan Guan Hooi together with 200 attendees from various industries and related sectors. With a proper traffic management and patience from all road users, Chow is confident the state government will be able to mitigate and make travelling more comfortable despite the congestion. He also confirmed that the Penang LRT project is expected to begin in the third quarter of this year, with completion projected within six to seven years, while the Juru–Sungai Dua Elevated Highway is scheduled to commence by the end of the year. Prime Minister Datuk Seri Anwar Ibrahim in tabling Budget 2025 on Oct 18 last year, announced several projects in Penang, including the Juru-Sungai Dua Elevated Highway, Mutiara Line LRT, the expansion of Penang International Airport (LTAPP) and the Batu Kawan Industrial Park 3 project. The 29.5-kilometre Mutiara Line LRT will feature 21 strategically located stations and is designed to enhance connectivity between Penang Island and the mainland, reduce road congestion, and improve overall accessibility. Meanwhile, Chow also noted that the state-led PSI project continues to make progress with some 60.71 hectares of land already reclaimed over the past 18 months. He said the state government is awaiting 'good news' from the federal government regarding the incentive packages for potential purchasers of the land for industrial development. PSI or Silicon Island, with a land area of 930.78 hectares, is a reclamation project owned by the Penang government.
The Sun
12 hours ago
- Business
- The Sun
Penang on track for large scale projects
GEORGE TOWN: The Penang state government has assured that effective traffic management strategies will be implemented to minimise disruptions during the construction of upcoming large scale projects. Chief Minister Chow Kon Yeow said the projects including Penang South Islands (PSI) project, the Mutiara Line Light Rail Transit (LRT) and the Juru-Sungai Dua Elevated Highway may cause temporary traffic congestion but it is a part of the development process. 'Many years ago when our team visited Gamuda in Kuala Lumpur, where they were at that time implementing the LRT project, we were introduced to the various traffic management strategies and a program that they managed at that time during the construction phase. 'I believe all contractors appointed for this massive project in Penang will take note of traffic dispersal and the key consideration is to maintain the number of lanes during construction, despite having to take away certain parts of the roads away from the vehicles, additional space would have to be created so that the original number of lanes will be retained,' he said. Chow said this while responding to questions during the Malaysian International Chamber of Commerce and Industry (MICCI) Northern Annual Luncheon Dialogue 2025, here today and also attended by MICCI Northern Branch Chairman Datuk Brian Tan Guan Hooi together with 200 attendees from various industries and related sectors. With a proper traffic management and patience from all road users, Chow is confident the state government will be able to mitigate and make travelling more comfortable despite the congestion. He also confirmed that the Penang LRT project is expected to begin in the third quarter of this year, with completion projected within six to seven years, while the Juru–Sungai Dua Elevated Highway is scheduled to commence by the end of the year. Prime Minister Datuk Seri Anwar Ibrahim in tabling Budget 2025 on Oct 18 last year, announced several projects in Penang, including the Juru-Sungai Dua Elevated Highway, Mutiara Line LRT, the expansion of Penang International Airport (LTAPP) and the Batu Kawan Industrial Park 3 project. The 29.5-kilometre Mutiara Line LRT will feature 21 strategically located stations and is designed to enhance connectivity between Penang Island and the mainland, reduce road congestion, and improve overall accessibility. Meanwhile, Chow also noted that the state-led PSI project continues to make progress with some 60.71 hectares of land already reclaimed over the past 18 months. He said the state government is awaiting 'good news' from the federal government regarding the incentive packages for potential purchasers of the land for industrial development. PSI or Silicon Island, with a land area of 930.78 hectares, is a reclamation project owned by the Penang government.
The Star
06-05-2025
- Business
- The Star
Support for Miti as issuer of certs
Ministry's decision will reinforce Malaysia's export credibility, say groups PETALING JAYA: The appointment of the Investment, Trade and Industry Ministry (Miti) as the sole issuer of Non-Preferential Certificates of Origin (NPCO) has received broad support from business chambers and trade groups, who say the measure will help protect Malaysia's trade integrity, particularly with the United States. However, industry leaders caution that the possibility of poor execution, lack of preparedness and insufficient infrastructure could result in bottlenecks and delays, potentially disrupting shipments and hurting exporters nationwide. The Malaysian International Chamber of Commerce and Industry (MICCI) said the government's decision to centralise the issuance of the certificates will reinforce Malaysia's export credibility and protect legitimate trade flows, particularly to the United States. ALSO READ: Experts: Move will address issue of transhipment 'Exporters are advised to stay updated on the revised application procedures and to engage closely with the ministry to ensure full compliance with the new requirements,' MICCI president Christina Tee said. To support compliance and reduce the risk of transhipment-related offences, MICCI is urging exporters to maintain clear, comprehensive and transparent supply chain records. 'Businesses must declare origin of products accurately and avoid any practices that could be perceived as relabelling or misrepresentation,' she added. ALSO READ: Miti to be sole issuer of certificates of origin for US-bound shipments She also encouraged companies to take part in awareness and capacity-building programmes organised by Miti and the Royal Malaysian Customs Department, and to cooperate fully during verification and audit exercises. However, Tee acknowledged that recent tariff measures imposed by the United States could present challenges by increasing operational costs and reducing competitiveness in the US market. 'To remain resilient, MICCI encourages its members to diversify their markets, invest in value-added strategies and enhance their product offerings. 'At the same time, businesses must maintain full compliance with all trade regulations.' Tee said MICCI supports the government's continued engagement with US counterparts to address these concerns and to promote a fair, open and rules-based trading environment. Previously, NPCOs for US-bound exports were issued by business councils, chambers or associations appointed by Miti. These trade documents verify the origin of goods for international shipments, though they are not used to claim preferential tariff rates. Tee said the chamber is prepared to forgo earnings from issuing NPCOs in the interest of national priorities. 'MICCI is willing to let go of that revenue and support Miti in issuing NPCOs so that the nation can emerge stronger during this period,' she said. Tee added that while NPCOs are a source of income, US-bound exports make up only about 15% of MICCI's certification activities. She was responding to the announcement by Miti on Monday that the ministry would serve as the sole issuer of NPCOs for US shipments effective yesterday. The ministry cautioned that any attempt to circumvent tariffs – including making false or misleading declarations of value or origin – will be treated as a serious offence. Malaysia Consortium of Mid-Tier Companies (MCMTC) honorary president Callum Chen raised concerns over Miti's preparedness to handle the new system. He said the absence of a dedicated facility and trained personnel could result in delays, as exporters now have only one access point instead of several. 'Does Miti have enough space and officers? How long will verification take, and how will exporters outside the Klang Valley be accommodated?' he asked. Chen stressed the need for a comprehensive nationwide solution. 'It's not just about space – it's about managing crowds, traffic, parking and logistics,' he said. 'Execution is key, even with a good plan,' he said, highlighting concerns from exporters in Johor, Penang, Sabah and Sarawak. The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) also called for a smoother transition as Miti takes over full responsibility on the issuance of the certificates. Its treasurer-general Datuk Koong Lin Loong proposed that the chambers assist by reviewing and verifying applications before Miti's final approval to help reduce the ministry's workload and ensure efficiency. 'We support the centralisation, but caution against implementing it too abruptly. Many exporters have yet to secure their certificates and a sudden change could lead to disruptions,' he said. Similarly, SME Association of Malaysia president Chin Chee Seong said Miti's ability to manage the transition effectively will depend on robust digital integration and timely support. He urged continued collaboration with industry associations to ensure accessibility and a better understanding of businesses' backgrounds. 'With every export requiring a certificate, this change impacts every transaction. There must be a clear, efficient process to avoid delays. The success of this transition will become clearer in the weeks ahead,' he said.
The Star
06-05-2025
- Business
- The Star
MICCI backs Miti as issuer of certs for US exports
MICCI president Christina Tee. KUALA LUMPUR: The Malaysian International Chamber of Commerce and Industry (MICCI) supports the government's decision to appoint the Investment, Trade and Industry Ministry (Miti) as the sole issuer of non-preferential certificates of origin (NPCO) for exports to the United States. Previously, business councils, chambers, or associations appointed by Miti were responsible for issuing NPCOs to the US market. MICCI president Christina Tee said the chamber is prepared to forgo some of its revenue from the issuance of the certificates in the interest of national economic priorities. 'As MICCI, we are willing to let go of that revenue and support Miti in issuing the NPCOs so that the nation can come out strong during this time,' she said during a media luncheon to celebrate the chamber's 188-year legacy in championing the business community and supporting Malaysia's economic growth. While NPCOs represented a source of income for the chamber, US-bound exports accounted for about 15% of its certifications. 'We cannot have it both ways. If we want the nation to succeed, we must make sacrifices,' she said. Tee also highlighted MICCI's stringent NPCO issuance policy, saying the chamber only issues them to members subject to annual reviews. 'If the members are not genuinely manufacturing here, we will not issue the certificate. MICCI has always maintained transparency and strict adherence to guidelines,' she said. Tee expressed confidence in Miti's experience, pointing to the certificates for countries such as India and Turkiye, which had import tax constraints. 'The concern now is whether the system can handle the significantly high workload,' she said. Previously, certificates to Turkiye or India could be processed within two weeks. With the United States now in the picture, the workload has grown, but Tee noted that Miti's team is hardworking and dedicated. 'For sea shipments, there is usually a two-week window between loading and arrival, which gives sufficient time for the certificate of origin to be processed and sent. 'The certificate can be emailed later, allowing the process to run parallel with shipment preparations. This can help avoid delays,' she added. — Bernama
