Latest news with #Mida
The Sun
3 days ago
- Business
- The Sun
Coherent opens new research facility
PETALING JAYA: Coherent Corp, a global leader in photonics, opened its new Datacom Research and Development Centre in Gelugor, Penang, yesterday, underscoring the company's strategic commitment to serving its rapidly growing global markets. Situated at Menara IJM Land, the Penang R&D Centre joins the company's expanding network in Malaysia, complementing its larger manufacturing sites in Ipoh, Perak and Perai, Penang, further maximising transceiver supply from Malaysian factories. Malaysian Investment Development Authority (Mida) CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the National Semiconductor Strategy (NSS), introduced in 2024, lays out Malaysia's plan to strengthen its position in the global semiconductor supply chain. 'One of the NSS's core priorities is supporting high-value R&D and advanced technologies exactly the kind of work Coherent is doing here in Penang. 'The strategy also aims to deepen Malaysia's local capabilities in areas like chip packaging, photonics, and silicon technologies, creating the kind of ecosystem that benefits global innovators.' Sikh Shamsul said as Coherent develops next-generation optical transceiver technologies at this new facility, it stands to gain from the strong pipeline of talent being built through the NSS. 'Mida is committed to supporting Coherent's journey not only in the past and present, but well into the future.' Coherent vice-president and managing director Jimmy Ling said: 'Coherent Malaysia takes pride in how strategically we are positioned to support the company's overall growth. 'Our successful establishment over nearly 25 years has played a critical role in strengthening our global value chain through ongoing expansion plans, and we are confident that our footprint in Penang will spearhead innovation in advanced photonics technology.' Meanwhile, vice-president of engineering, Asia R&D Jimmy Wu said: 'Penang is an ideal location, thanks to its well-established high-tech industry and a strong pool of technical talent capable of supporting our R&D growth plans.' The new centre comes equipped with impressive capabilities that put it at the forefront of optical technology, that is, next-generation silicon photonics solutions for optical transceivers; advanced development facilities for 400G, 800G, and 1.6T optical transceiver modules and specialised testing environments for AI and cloud computing applications This expansion strengthens Coherent's ability to serve its global markets while creating valuable connections between its manufacturing sites in Ipoh and Perai and its R&D operations in Shanghai.
Malay Mail
3 days ago
- Business
- Malay Mail
Miti to roll out reforms, new incentive framework to attract high-quality investments, Parliament told
KUALA LUMPUR, July 29 — The Ministry of Investment, Trade and Industry (Miri) and the Malaysian Investment Development Authority (Mida) will intensify efforts to introduce policy reforms to boost investor confidence and strengthen Malaysia's position as a preferred investment destination. Miti said the ministry is aware that the uncertainty in global trade due to volatile geopolitical conditions requires an effective approach to ensure that Malaysia remains relevant as a preferred investment hub in the region through the implementation of measures and strategies to stimulate private investment. 'Among the approaches and strategies that have been and are currently being implemented through a whole-of-government approach to spur private investment include reforming the mechanism for the provision of tax incentives,' it said in a written reply uploaded on the Parliament website yesterday. Miti was responding to Datuk Seri Hasni Mohammad (BN–Simpang Renggam), who asked about the ministry's approach to stimulating private investment, which is expected to decline due to global trade uncertainties. Miti noted that the New Investment Incentive Framework (NIIF) will be implemented starting from the third quarter of 2025, with the framework focusing on high-value activities and economic spillover effects. 'The NIIF will introduce a new evaluation mechanism for the granting of incentives, ensuring that better incentive rates are given to high-quality investments,' it said. Miti added that the government prioritises quality investments that can enhance economic complexity, create high-value job opportunities for the people, and expand domestic supply chains. Attention is also being given to developing new economic clusters and strengthening existing ones, while also increasing inclusivity and supporting the environmental, social and governance agenda. Meanwhile, Miti said the Malaysia External Trade Development Corporation (Matrade) has also taken mitigation steps to address the impact of reciprocal tariffs by diversifying the country's export markets and exploring new destinations in non-traditional markets. It noted that Malaysia is currently negotiating several new free trade agreements (FTAs), including the Asean-Canada, Malaysia-South Korea, Malaysia-European Union, and Malaysia-Gulf Cooperation Council (GCC). 'At the same time, the Ministry is also studying the potential of FTAs with other countries such as Bangladesh and Sri Lanka,' said Miti in response to a question from Tan Sri Abdul Hadi Awang (PN–Marang) regarding the situation surrounding tariffs from the United States. Abdul Hadi had asked about Malaysia's policies to protect the people's economy, particularly the lower-income groups, in the face of high tariffs from the US, and how effective Asean trade strengthening strategies are in mitigating the negative impacts. — Bernama
Free Malaysia Today
22-07-2025
- Business
- Free Malaysia Today
Sustainable data centre framework set for October launch
Investment, trade and industry minister Tengku Zafrul Aziz said the agreement was reached during the third meeting of the Data Centre Task Force for 2025 today. (X pic) PETALING JAYA : A framework for sustainable data centres is expected to be introduced in October, according to investment, trade and industry minister Tengku Zafrul Aziz. Tengku Zafrul said the framework, which will come under the purview of the digital ministry, will include strategic coordination with all relevant agencies and state governments regarding the implementation of data centre development projects. He said the agreement was reached during the third meeting of the Data Centre Task Force for 2025, which he co-chaired today with digital minister Gobind Singh Deo. 'The Malaysian Investment Development Authority (Mida) will serve as the focal point for all applications for new data centre projects and expansions. 'This will ensure all initiatives and projects proceed smoothly, avoid duplication of functions, and support the development of a more sustainable and strategic national data centre ecosystem,' he said in a post on X tonight. Tengku Zafrul said the meeting was crucial to ensure the development of Malaysia's data centre industry becomes more sustainable, competitive and investor-friendly. The task force is a multi-agency strategic platform led by his ministry and the digital ministry to coordinate the planning and implementation of data centre projects holistically.
The Star
06-07-2025
- Business
- The Star
Potential RM4bil investments from Anwar's visit to France, says Zafrul
PETALING JAYA: Malaysia has successfully attracted potential investments worth RM4bil from French companies, following Prime Minister Datuk Seri Anwar Ibrahim's recent visit, says Datuk Seri Tengku Zafrul Aziz ( pic ). The Investment, Trade and Industry Minister said representatives from the Malaysian Investment Development Authority (Mida) and the Malaysia External Trade Development Corporation (Matrade) were also part of the Malaysian delegation led by Anwar. During the visit, Anwar met with 40 representatives from French industry. "Several French companies expressed the intention to invest a cumulative value of RM4bil in sectors such as high-tech manufacturing, aerospace, renewable energy, tourism and hospitality, digital economy and sustainable infrastructure. "As for potential exports, RM675mil was generated for high-impact sectors such as aerospace, automotive, renewable energy, pharmaceuticals, digital economy, lifestyle and the halal industry," it said in a statement on Sunday (July 6). All these are sectors targeted under the New Industrial Master Plan 2030 (NIMP 2030) and Green Investment Strategy. Companies shared their intention to continue investing in Malaysia, driven by key factors such as a conducive, stable and dynamic investment ecosystem; encouraging global demand for Malaysian-made products; efficient domestic supply chains; a highly skilled workforce; and investor-friendly government policies," it added. Meanwhile, Tengku Zafrul said the overall success of this mission reflects the continued confidence of many foreign companies in Malaysia's investor-friendly policies, supply chain ecosystem, competitiveness and economic growth potential. "The investment and trade potential to be realised will also provide business opportunities for local companies, including Small and Medium Enterprises, and more high-paying jobs for Malaysians. All these are key in driving our Madani economic transformation agenda," he said. The visit was part of the Prime Minister's official working visit to Italy, France and Brazil from July 1 to 8.
Malay Mail
04-07-2025
- Business
- Malay Mail
MOF introduces transitional measures to ease SST compliance for industry players
KUALA LUMPUR, July 4 — The Finance Ministry (MOF) has agreed to provide transitional support to industry players during the change in the scope of the Sales and Service Tax (SST), following feedback regarding difficulties in complying with all operational requirements. In a statement today, MOF said the government will allow service providers to manually submit statements for the taxable period from July 1 to Sept 30, 2025. 'However, the Service Tax (ST) must still be charged and collected during this period. 'The Madani government understands that service providers need more time to upgrade their systems for tax compliance and implementation,' MOF said. Meanwhile, MOF said registered manufacturers are required to impose and collect Sales Tax (ST) starting July 1, 2025, and are eligible to apply for exemptions on raw materials used in the manufacturing of taxable goods. Additionally, companies that have already received ST exemptions via the tax exemption committee under the Malaysian Investment Development Authority (Mida) before July 1 will continue to enjoy the exemption, subject to the terms and duration previously set. 'However, if these companies manufacture finished taxable goods after July 1 and meet the specified threshold value, they are required to register as registered manufacturers and may apply for exemption via the MySST portal at 'MOF hopes that these measures will help facilitate business operations and ease compliance for companies affected by the SST scope expansion,' the statement added. Business and members of the public can contact the Royal Malaysian Customs Department Call Centre hotline at 1-300-888-500 for more information. — Bernama
