Latest news with #NIMP2030
The Star
5 days ago
- Business
- The Star
Boeing opens KL office to support Malaysia's aerospace aspirations
KUALA LUMPUR: Boeing's new office in the heart of Kuala Lumpur will serve as a pivotal hub to strengthen the aerospace company's customer support, aviation safety, sustainability and supply chain in Malaysia, according to its president, Penny Burtt. In a statement today, she said the company is honoured to support the nation's vision of becoming a key aerospace node in the region as outlined in the country's Aerospace Blueprint 2030, noting that Malaysia is home to one of the largest aviation markets in Asia-Pacific "The opening of Boeing's new expanded corporate office in Kuala Lumpur reflects our deep commitment to the Malaysian government, our employees, customers and partners in the country," she said. The opening ceremony of the aviation giant's corporate office in Menara Hap Seng 3 here today was officiated by the Deputy Minister of Investment, Trade and Industry (MITI) Liew Chin Tong, United States Ambassador to Malaysia Edgard D. Kagan and National Aerospace Industry Coordinating Office (NAICO) chief executive officer Shamsul Kamar Abu Samah. In his opening remarks, Liew said the new office is a testament to Boeing's commitment to Malaysia as a part of the nation's aerospace journey. "Boeing's journey with Malaysia spans over 70 years, beginning with the delivery of the Douglas DC-3 aircraft in 1947. "Since then, Boeing has played an important role in supporting our aviation and aerospace growth," he said. Liew added that to date, more than 140 Boeing aircraft have been delivered to Malaysian carriers, including over 100 Boeing 737s to Malaysia Airlines. "The Malaysia Aviation Group (MAG) has also announced its intention to purchase 30 Boeing 737 MAX 8s and an option to procure 30 more. "This provides Boeing and Malaysia the opportunity to collaborate on the next phase of aerospace development, from local supply chain expansion to talent upskilling and sustainability leadership," he said. The New Industrial Master Plan 2030 (NIMP 2030) lists aerospace as a priority sector to drive innovation, deepen economic complexity, and achieve net-zero ambitions. The initiatives for the aerospace industry under NIMP 2030 are spearheaded by the National Aerospace Industry Corporation Malaysia, the key implementing agency. Liew noted that Boeing's presence in Malaysia goes beyond aircraft sales, as the company has also set up its sole wholly owned manufacturing facility in Southeast Asia in Bukit Kayu Hitam, Kedah. "With a workforce of nearly 1,000 Malaysians, the Boeing Composites Malaysia has an impeccable record in producing composite parts for the 737, 767, 777, and 787 programmes-contributing directly to Boeing's global production network," he added. - Bernama
Malay Mail
5 days ago
- Business
- Malay Mail
Boeing opens new Kuala Lumpur office to boost support for Malaysia's aerospace goals
KUALA LUMPUR, July 16 — Boeing's new office in the heart of Kuala Lumpur will serve as a pivotal hub to strengthen the aerospace company's customer support, aviation safety, sustainability and supply chain in Malaysia, according to its president, Penny Burtt. In a statement today, she said the company is honoured to support the nation's vision of becoming a key aerospace node in the region as outlined in the country's Aerospace Blueprint 2030, noting that Malaysia is home to one of the largest aviation markets in Asia-Pacific 'The opening of Boeing's new expanded corporate office in Kuala Lumpur reflects our deep commitment to the Malaysian government, our employees, customers and partners in the country,' she said. The opening ceremony of the aviation giant's corporate office in Menara Hap Seng 3 here today was officiated by the Deputy Minister of Investment, Trade and Industry (Miti) Liew Chin Tong, United States Ambassador to Malaysia Edgard D. Kagan and National Aerospace Industry Coordinating Office (Naico) chief executive officer Shamsul Kamar Abu Samah. In his opening remarks, Liew said the new office is a testament to Boeing's commitment to Malaysia as a part of the nation's aerospace journey. 'Boeing's journey with Malaysia spans over 70 years, beginning with the delivery of the Douglas DC-3 aircraft in 1947. 'Since then, Boeing has played an important role in supporting our aviation and aerospace growth,' he said. Liew added that to date, more than 140 Boeing aircraft have been delivered to Malaysian carriers, including over 100 Boeing 737s to Malaysia Airlines. 'The Malaysia Aviation Group (MAG) has also announced its intention to purchase 30 Boeing 737 MAX 8s and an option to procure 30 more. 'This provides Boeing and Malaysia the opportunity to collaborate on the next phase of aerospace development, from local supply chain expansion to talent upskilling and sustainability leadership,' he said. The New Industrial Master Plan 2030 (NIMP 2030) lists aerospace as a priority sector to drive innovation, deepen economic complexity, and achieve net-zero ambitions. The initiatives for the aerospace industry under NIMP 2030 are spearheaded by the National Aerospace Industry Corporation Malaysia, the key implementing agency. Liew noted that Boeing's presence in Malaysia goes beyond aircraft sales, as the company has also set up its sole wholly owned manufacturing facility in Southeast Asia in Bukit Kayu Hitam, Kedah. 'With a workforce of nearly 1,000 Malaysians, the Boeing Composites Malaysia has an impeccable record in producing composite parts for the 737, 767, 777, and 787 programmes — contributing directly to Boeing's global production network,' he added. — Bernama
The Sun
5 days ago
- Business
- The Sun
Ops Metal key to restoring supply chain integrity and investment confidence
KUALA LUMPUR: The Malaysia Steel Association (MSA) has emphasised the importance of the Malaysian Anti-Corruption Commission's (MACC) 'Ops Metal' in safeguarding supply chain integrity and reinforcing investor trust. The operation targets illegal scrap metal exports, which have cost Malaysia RM950 million in lost tax revenue over six years. The MSA stressed that unchecked scrap outflows threaten industrial resilience, climate targets, and job creation. It urged stronger frameworks for transparent domestic scrap circulation to support low-emission steel production and circular economy goals. 'Multi-agency collaboration is vital to curb smuggling and align with Malaysia's infrastructure and climate commitments,' the MSA stated. The recent raids, including at NationGate Solution (M) Sdn Bhd, uncovered systemic tax evasion averaging RM160 million annually. The steel sector, contributing 2.5% to GDP and supporting 112,000 jobs, faces supply shortages and inflated costs due to illegal exports. The MSA warned these activities jeopardise Malaysia's Net Zero 2050 target and NIMP 2030's green economy vision. MITI's actions against tariff circumvention were commended, with the MSA reiterating the need for market discipline to sustain economic stability and supply chain security. - Bernama
Malaysian Reserve
6 days ago
- Business
- Malaysian Reserve
Tech exports and project delivery show progress under NIMP
by AUFA MARDHIAH MALAYSIA is seeing strong gains in exports and industrial execution under the New Industrial Master Plan 2030 (NIMP 2030), with higher tech exports and faster delivery of approved projects, according to the Ministry of Investment, Trade and Industry (MITI). Manufacturing value-added rose 4.1% year-on-year (YoY) in the first quarter (1Q25) to RM95.7 billion, while median wages in the sector increased to RM2,745. Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz (picture) said the median wage increased by RM145 to RM2,745 compared to RM2,600 in 1Q24 for the manufacturing sector. As part of NIMP's push to boost economic complexity, Malaysia has secured RM52 billion in advanced industry investments so far, with 23,211 potential jobs created and over 4,500 engineers trained. Exports in targeted sectors also saw solid growth between January and May this year. Electrical and electronics (E&E) exports rose 20%, machinery and equipment by 14.6% and medical devices by 7.8%. From 2021 to 1Q25, 86.4% of approved manufacturing projects were implemented — totalling over 3,000 projects — a move Tengku Zafrul said helps small and medium enterprises (SMEs) benefit faster from investment inflows. 'Of the total approved investments, a small number of projects may not proceed due to reasons such as changes in the company's strategic direction, but this accounts for less than 3%,' he said today. Digital investments continue to rise, with RM310.7 billion approved since 2021, mostly in data centres. 'Every ringgit spent on data centres yields a RM6.60 return for the wider economy,' he added. To support exporters, MITI disbursed RM15 million in Market Development Grants in the first half of 2025 (1H25), generating RM2.88 billion in export sales. Focus markets include Latin America, Africa, West Asia and ASEAN. Malaysia also improved its global competitiveness, rising 11 places to 23rd in the IMD World Competitiveness Ranking — its best showing since 2020. 'These improvements were driven by strong export growth and market diversification,' Tengku Zafrul said.
New Straits Times
11-07-2025
- Business
- New Straits Times
Malaysia's aerospace industry revenue to expand up to 25pct this year
Bernama KUALA LUMPUR: Malaysia's aerospace industry revenue is projected to grow 20 to 25 per cent this year from RM25.1 billion (US$5.93 billion) in 2024, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. He said the country also secured RM1.5 billion in approved investments and achieved export values of RM8.17 billion, clear indicators of growing global confidence in Malaysia's capabilities, resilience, and talent pool in the sector. "Our 30,000-strong aerospace workforce continues to demonstrate excellence across the entire value chain, from aircraft structure manufacturing and engine components to avionics and maintenance, repair and overhaul (MRO), as well as systems integration. "Such achievements are only possible through the strength of the triple helix model - government, academia and you, the captains of industry - working in unison to propel Malaysia's aerospace sector to greater heights," he said in his keynote speech at the Malaysia Aerospace Industry Association (MAIA) President's Dinner 2025 here tonight. Tengku Zafrul noted that there were already positive signals of industry confidence, especially when he accompanied Prime Minister Datuk Seri Anwar Ibrahim's official visit to France with Malaysia Airlines having doubled its commitment to the Airbus A330neo and exercising options for 20 additional aircraft, bringing its total order to 40 A330neo planes. AirAsia, on the other hand, has signed an agreement to purchase 50 Airbus A321XLR aircraft with options for 20 more. "This move supports its ambition to expand into long-haul low-cost markets, especially in Europe and North America, powered by more fuel-efficient and range-optimised aircraft." "These fleet expansion efforts are not only a strong vote of confidence in Airbus - but also in positioning Malaysia as a regional hub for MRO, parts supply, and aerospace talent," he said. Tengku Zafrul said the regional and global aerospace industry is entering a period of accelerated transformation and growth, with increasing demand for green aviation solutions, digital systems integration, and resilient supply chains; hence, Malaysia must continue to adapt, lead and innovate. "To remain competitive, we must strengthen our position not just as a supplier, but as a strategic partner in global aerospace supply chains, capable of co-developing future technologies." "This is where the alignment between the Malaysian Aerospace Industry Blueprint 2030 (MAIB 2030) and the National Industrial Master Plan 2030 (NIMP 2030) and real-time industry feedback is so important," he added. Tengku Zafrul encouraged the MAIA and the National Aerospace Industry Corporation (NAICO) Malaysia to continue this close collaboration, especially in areas such as talent pipeline planning, technology localisation and small and medium enterprise development. Under both MAIB 2030 and NIMP 2030, the aerospace industry is recognised as a high-growth, high-value sector that will contribute significantly to increasing economic complexity and global competitiveness. "With clear policy direction through NIMP 2030 and MAIB 2030, we are well-positioned to elevate our aerospace ecosystem to the next level," he said.
