Latest news with #NIMP2030
The Star
6 days ago
- Business
- The Star
YCH Group's smart logistic hub in Klang seen as boost to regional connectivity
From left: YCH Group Malaysia country general manager Ryan Yap, Malaysian Investment Development Authority CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, YCH Group executive chairman Dr Robert Yap, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Singapore Acting High Commissioner to Malaysia Shivakumar Nair, ASEAN-BAC, Malaysia Chapter chairman Tan Sri Nazir Razak and Sime Darby Property group managing director & chief executive officer Datuk Seri Azmir Merican during the groundbreaking ceremony of YCH's RM500mil Supply Chain City Malaysia. SHAH ALAM: Singapore-based supply chain management and logistics company, YCH Group's RM500 million Supply Chain City Malaysia (SCC MY), a smart logistic complex in Bandar Bukit Raja, Klang, is expected to serve as a key enabler of regional connectivity. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the hub which would be completed within the next two-and-a-half years is the first project under Malaysia's New Industrial Master Plan 2030 (NIMP 2030) which aimed to accelerate industrial transformation through advanced supply chain solutions and logistics innovation. He said as Malaysia cements its role as ASEAN's preferred investment destination, the logistics sector plays a critical role in driving the nation's industrial and trade growth. He was confident that SCC MY would align with the vision of NIMP 2030 and the ASEAN Smart Logistics Network (ASLN) by strengthening connectivity, enhancing trade efficiency and optimising supply chain operations. "In 2024, Malaysia achieved a significant RM378.5 billion in approved investments, a 14.9 per cent increase from the previous year. These investments, spanning 6,700 projects, will create over 207,000 new jobs for Malaysians. "Such figures highlight not only the confidence global investors have in Malaysia but also our ability to navigate economic uncertainties with strength and agility," he said during SCC MY's groundbreaking ceremony here today. Tengku Zafrul said the project which will integrate LEARN ecosystem, in collaboration with Singapore's Supply Chain and Logistics Academy (SCALA), will ensure the local logistics talent is equipped with the necessary skills and expertise to thrive in an evolving industry. He noted that this project also offers the potential for the adoption of smart logistics solutions, further enhancing efficiency and transparency in supply chains, aligns with national agenda to embrace the digital economy and leverage technology for economic advancement. "This initiative reflects our national commitment to building a high-skilled workforce that can support Malaysia's transformation into a regional logistics powerhouse. "Beyond its technological advancements, the project is also expected to offer both skilled and semi-skilled job opportunities, further strengthening Malaysia's SMART Warehouse and logistics ecosystem," he said. - Bernama
The Sun
26-05-2025
- Business
- The Sun
Accountants play critical role in improving companies sustainablity practices — Amir Hamzah
KUALA LUMPUR: Accountants play a critical role in guiding companies to improve their sustainability practices, particularly in governance by ensuring high-quality, reliable disclosures are aligned with international standards, said Finance Minister II Datuk Seri Amir Hamzah Azizan. He said that as sustainability becomes central to business strategy, accountants play a pivotal role in integrating environmental, social, and governance (ESG) and sustainability considerations into business strategy and initiatives and corporate reporting. 'This enhances transparency, supports climate action, and helps steer Malaysia towards a low-carbon, resilient economy,' he said in his keynote address at the Malaysian Institute of Accountants (MIA) International Accountants Conference 2025 here today. Amir Hamzah, who launched the conference, said today's accountants are not just financial stewards; they are sustainability champions. 'With the right frameworks, capabilities, and support, you are well-positioned to drive meaningful change, catalyse green financing, and support Malaysia toward a low-carbon, inclusive future envisioned by the MADANI administration,' he said, adding that the profession's sustainability advocacy is well aligned with state policy, namely the National Energy Transition Roadmap (NETR) and the New Industrial Master Plan 2030 (NIMP 2030). In addition, Amir Hamzah said ensuring equitable tax systems and addressing the informal economy are also vital for fiscal sustainability, as accountants contribute to policy development and enforcement mechanisms that promote compliance and fairness. 'Addressing non-compliance and systemic inefficiencies in the tax system is a priority under the MADANI economic framework. 'The government's efforts to broaden the tax base, including taxing the shadow economy, require accountants to advocate for tax compliance and assist businesses in understanding and fulfilling their tax obligations. 'This support is vital for enhancing tax collection, which is critical for funding the nation's developmental expenditures and long-term reforms,' he said. Meanwhile, Amir Hamzah said that with Malaysia holding the ASEAN chairmanship, harmonising regional standards and promoting initiatives like the ASEAN Chartered Professional Accountant (CPA) qualification will enhance cross-border collaboration and economic integration. 'Accountants can contribute further by aligning their professional practices with regional frameworks and supporting the adoption of sustainability assurance standards across ASEAN,' he said. MIA International Accountants Conference 2025 coincides with the ASEAN Summit 2025. The conference is held at the Malaysia International Trade and Exhibition Centre (MITEC) on May 26 and 27, under the theme 'Collaborative Leadership for a Sustainable Future'. This year, the conference has attracted close to 3,800 delegates attending both physically and virtually.
The Sun
26-05-2025
- Business
- The Sun
Accountants key to boosting companies' sustainability efforts
KUALA LUMPUR: Accountants play a critical role in guiding companies to improve their sustainability practices, particularly in governance by ensuring high-quality, reliable disclosures are aligned with international standards, said Finance Minister II Datuk Seri Amir Hamzah Azizan. He said that as sustainability becomes central to business strategy, accountants play a pivotal role in integrating environmental, social, and governance (ESG) and sustainability considerations into business strategy and initiatives and corporate reporting. 'This enhances transparency, supports climate action, and helps steer Malaysia towards a low-carbon, resilient economy,' he said in his keynote address at the Malaysian Institute of Accountants (MIA) International Accountants Conference 2025 here today. Amir Hamzah, who launched the conference, said today's accountants are not just financial stewards; they are sustainability champions. 'With the right frameworks, capabilities, and support, you are well-positioned to drive meaningful change, catalyse green financing, and support Malaysia toward a low-carbon, inclusive future envisioned by the MADANI administration,' he said, adding that the profession's sustainability advocacy is well aligned with state policy, namely the National Energy Transition Roadmap (NETR) and the New Industrial Master Plan 2030 (NIMP 2030). In addition, Amir Hamzah said ensuring equitable tax systems and addressing the informal economy are also vital for fiscal sustainability, as accountants contribute to policy development and enforcement mechanisms that promote compliance and fairness. 'Addressing non-compliance and systemic inefficiencies in the tax system is a priority under the MADANI economic framework. 'The government's efforts to broaden the tax base, including taxing the shadow economy, require accountants to advocate for tax compliance and assist businesses in understanding and fulfilling their tax obligations. 'This support is vital for enhancing tax collection, which is critical for funding the nation's developmental expenditures and long-term reforms,' he said. Meanwhile, Amir Hamzah said that with Malaysia holding the ASEAN chairmanship, harmonising regional standards and promoting initiatives like the ASEAN Chartered Professional Accountant (CPA) qualification will enhance cross-border collaboration and economic integration. 'Accountants can contribute further by aligning their professional practices with regional frameworks and supporting the adoption of sustainability assurance standards across ASEAN,' he said. MIA International Accountants Conference 2025 coincides with the ASEAN Summit 2025. The conference is held at the Malaysia International Trade and Exhibition Centre (MITEC) on May 26 and 27, under the theme 'Collaborative Leadership for a Sustainable Future'. This year, the conference has attracted close to 3,800 delegates attending both physically and virtually.
The Sun
20-05-2025
- Business
- The Sun
Naico Malaysia forges partnerships to advance country's aerospace sector
LANGKAWI: National Aerospace Industry Corporation Malaysia (Naico Malaysia) has signed four memorandums of understanding (MoU) to advance Malaysia's aerospace sector and reinforce the nation's agenda for building a resilient, competitive and future-ready sector. Naico Malaysia established strategic partnerships with Perkeso (Social Security Organisation), Exim Bank Malaysia Bhd, MBSB Bank Bhd and i-CATS University College. The MoUs reflect Naico Malaysia's focus on ecosystem streamlining, ensuring companies have access to financial instruments, skilled human capital, and regulatory support. 'These partnerships and recognitions are not only timely – they are strategic. They demonstrate our shared commitment to drive sustainable talent development, enhance supply chain integration, and propel Malaysia's aerospace industry to new heights under MAIB 2030 and NIMP 2030,' Naico Malaysia CEO Professor Shamsul Kamar Abu Samah said at the signing event today. The event also witnessed the launch of the AeroPN Tech-Up Financing Programme by Malaysia Productivity Corporation. This initiative aims to support aerospace SMEs in scaling up technological capabilities and improving operational efficiency. In line with Malaysia's aerospace quality transformation goals, the ceremony featured the presentation of AS9100 Aerospace Quality Management Systems Certificates by Sirim QAS to several local aerospace companies. These certifications are key to Malaysia's ambition of integrating deeper into the global aerospace supply chain. They reflect a collective industry commitment to excellence, compliance, and global competitiveness. Naico Malaysia said it remains committed to its role as the industry development agency under the Ministry of Investment, Trade and Industry, bridging government, industry and academia to realise Malaysia's ambition to become the leading aerospace hub in Southeast Asia.
New Straits Times
19-05-2025
- Business
- New Straits Times
Sabah launches TVET Council to boost skills training
KOTA KINABALU: Sabah has launched a Technical and Vocational Education and Training (TVET) Council to boost youth development through industry-aligned training. Chief Minister Datuk Seri Hajiji Noor said the move would position the state as a hub of skilled labour. TVET, he added, was also a key driver in the state's development goals under Sabah Maju Jaya 2.0 and aligned with national strategic plans, such as the Sustainable Development Goals (SDG 2030), the New Industrial Master Plan (NIMP 2030) and the National Energy Transition Roadmap (NETR). Hajiji said the ongoing technological revolution, including artificial intelligence (AI), meant that the younger generation had equip themselves with new, adaptive and innovation-oriented skills. "The world of work is changing. If Sabah's youth is not equipped with relevant skills, we will fall behind. "TVET is the best platform for developing a highly skilled workforce that will drive our state's progress," he said during the launch of the council at a hotel here. His speech was read by Deputy Chief Minister Datuk Shahelmey Yahya. Hajiji said the council was not just an administrative body, but a strategic platform that united government agencies, training institutions, industry sectors and key TVET players within a well-organised and inclusive ecosystem. "The council will also serve as a policy coordinator, a driver for skill training direction and a strategic link for development funding applications from the federal government. "It also supports the youth empowerment agenda and the employability of graduates, while enhancing recognition and certification of skills at the state level. "I urge the youth of Sabah not to hesitate in joining the TVET field. "Now is the time to change the perception and see TVET as a smart choice that opens doors to becoming professionals, entrepreneurs and innovators," he said, adding that there were 160 TVET institutions in the state.
