Latest news with #NewIndustrialMasterPlan
New Straits Times
3 days ago
- Business
- New Straits Times
YCH Group's RM500mil logistics hub at SD Property's Bukit Raja township breaks ground
KUALA LUMPUR: Singapore-based YCH Group held a groundbreaking of its largest supply chain facility in Malaysia in Bandar Bukit Raja, Selangor today. Located at Sime Darby Property Bhd's Bukit Raja township, the RM500 million project reflects YCH's long-term commitment to Malaysia's regional supply chain development and a significant step in realising the country's vision as a leading logistics and trade hub in Asean. As part of YCH Group's SGConnect initiative, the project is poised to serve as a key enabler of regional connectivity, supporting smoother trade flows and future-ready logistics infrastructure. Investment, Trade and Industry Minister Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz hopes YCH's investment would be more inclusive by enabling SME exporters to also access the global market. "When trade flows seamlessly, investors see greater opportunities, fuelling further growth and innovation. "This is what will support our New Industrial Master Plan's goals to increase our competitiveness and position Malaysia a key manufacturing and services hub for Asean and beyond," he said. Malaysian Investment Development Authority (MIDA) chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said YCH, as the first recipient of MIDA's Smart Logistics Complex incentive, sets a powerful precedent for the nation's integrated smart logistics future. "This achievement reflects our commitment to attracting high-impact investments and strengthening Malaysia's supply chain ecosystem through innovation and automation. "The incentive aligns perfectly with thei Kuala Lumpur Declaration: Asean, supporting our vision of a digitally advanced, economically resilient Asean region," he added. YCH executive chairman Dr Robert Yap said the project is a major step forward in setting new standards of logistics excellence, supporting Malaysia's growth as a world-class supply chain leader. "Our investment in Fusionaris and advanced technologies reflect our commitment to regional connectivity, efficient operations and sustainable practices. "We are also dedicated to training local talent, empowering them with essential skills to support Malaysia's journey as a preferred destination for global businesses," he said. The Supply Chain and Logistics Academy (Scala), an industry-level development academy, will be hosted at the hub. It offers training programmes to equip local talent with the skills needed to thrive in tomorrow's logistics landscape, ultimately enabling Malaysia's workforce to remain competitive on the global stage. This milestone highlights the successful collaboration between YCH and SD Property in bringing a world-class supply chain hub to life within one of Selangor's most strategically connected and mature townships. Bandar Bukit Raja is a 2,158-hectare integrated township known for its sustainable design and thriving industrial ecosystem. With close to 60 per cent of its landbank allocated for industrial use, its is home to Malaysia's first GreenRE Platinum-rated managed industrial park, a preferred destination for multinational corporations seeking ready infrastructure, connectivity and ESG-aligned developments.
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.
The Sun
5 days ago
- Business
- The Sun
Nazir: Deeper Asean economic integration no longer optional – it's essential
KUALA LUMPUR: Asean stands at a critical juncture where accelerating economic integration is no longer optional – it is essential. In the face of a challenging and uncertain global environment, the region must urgently take concrete steps to strengthen internal collaboration. This means increasing trade and investment flows among member countries and creating a more unified economic front. Asean-BAC for Malaysia chairman Tan Sri Nazir Razak said despite significant progress in reducing tariffs – currently eliminated on 99% of goods within Asean – non-tariff barriers have been steadily rising. He said tackling these will require empowering Asean institutions to enforce rules more effectively and ensure greater compliance across member states. 'The message is clear: Asean must act decisively to deepen integration or risk missing a pivotal opportunity to secure long-term economic resilience. There is a need for stronger enforcement mechanisms and greater authority for Asean bodies to regulate and reduce trade barriers effectively. 'Further, operational flexibility must be improved. We should allow companies to establish operations wherever it makes the most economic sense within the region, without unnecessary red tape or restrictions,' he told reporters at the curtain raiser to the Asean Business Forum 2025 (ABF 2025) today. Malaysian Investment Development Authority (Mida) deputy CEO for investment promotion and facilitation Sivasuriyamoorthy Sundara Raja said Southeast Asia has been one of the fastest-growing economic regions over the past two decades, recording an average growth rate of 5.3%. Within this, Asean has maintained a steady growth rate of around 4%, creating a favourable environment for investment across the region. As a result, Sivasuriyamoorthy said, Asean now attracts about 17% of total global foreign direct investment (FDI) inflows – roughly one-fifth of the global total. The strong performance is driven not only by the region's economic potential but also by the strategic framework provided by the Asean Economic Community Blueprint. This blueprint has positioned Asean as a single production base, enhancing regional integration and economic certainty. Such stability and coordination have made Asean – and Malaysia in particular – an attractive destination for investors seeking to establish or expand their operations, he said. 'Moving forward, we are very confident in our ability to attract even more investments into Malaysia. There are several new growth areas have been identified under the New Industrial Master Plan and the National Energy Transition Roadmap. These include front-end semiconductor manufacturing, green investments, hydrogen technology, carbon capture, and digital infrastructure. 'We are actively positioning Malaysia as a hub for global players in the digital space – whether in data centres, AI or digital construction technologies. In addition, we are exploring opportunities in sustainable aviation fuel, biofuels, and critical minerals. 'These are all emerging sectors, and in this context, I believe Malaysia is taking on a leadership role within Asean, helping to drive investments into this dynamic and fast-evolving region,' he said. Focusing on SMEs, MBSB Bank Bhd group chief strategy officer Datuk Azlan Shahrim said across Asean and beyond, the focus of ABF 2025 extends to Malaysian SMEs operating domestically with ambitions to export within the region. He said it also includes Asean-based SMEs looking to establish operations in Malaysia, as well as companies that are integral parts of the regional supply chain. 'One way we support SMEs is through our unique blended finance approach. MBSB Bak Bhd, with its 75-year legacy, has long provided regional financing in Malaysia and Singapore, often in partnership with SMEs. Today, with MIDF – the development finance arm now part of the MBSB Group – we are able to offer a more integrated solution. 'When an SME needs financing, we can provide a combination of government grants, government-backed financing schemes, and guarantees, up to 80%, and complement that with traditional commercial banking facilities. 'For example, if an SME requires RM50 million in funding, they might receive RM10 million in the form of equity financing, government support, and guarantees, with the remainder structured as commercial loans. 'This blended model results in a more attractive overall financing rate, enabling SMEs to be more competitive in the market,' he said. ABF2025 will be held on Thursday alongside the 46th Asean Summit and the Asean-GCC+China Summit. Themed 'From Vision to Reality – Asean Partnerships Fuelling Sustainable Growth', the forum will spotlight corporate engagement and business matchmaking among top 25 corporations and investors from Asean and China. Co-hosted by Mida and Asean-BAC Malaysia, ABF 2025 is expected to attract over 500 participants, including more than 200 local and international companies.
New Straits Times
22-05-2025
- Business
- New Straits Times
Anwar: Malaysia to continue supporting digital, AI development in Asean
PUTRAJAYA: The government will continue supporting the development of digitalisation and artificial intelligence across Asean to position the region as a competitive and forward-looking digital hub. Prime Minister Datuk Seri Anwar Ibrahim said Malaysia's digital push was not solely for domestic growth, but also aimed at building a strong, integrated regional ecosystem that benefits all Asean member states. "(Malaysia) will also continue to support the development of digitalisation and AI in our neighbouring countries, because we want Asean, not just Malaysia, to become a more competitive digital hub," he said. Anwar said this in his keynote address at the launch of MaiStorage Techology here today. While highlighting Malaysia's progress and reputation as a stable and policy-driven tech destination, Anwar said digital transformation must be a collective Asean effort if the region is to remain competitive on the global stage. He cited Malaysia's collaboration with Vietnam and Singapore under the Asean Power Grid initiative as an example of how the region could work together on cross-border infrastructure projects, including those related to energy and digital connectivity. "The thrust of our Asean chairmanship has been energy transition, and we have seen some success through collaboration among Vietnam, Malaysia and Singapore on the power grid. "But, more importantly, the focus of our chairmanship is digital transformation. This is not just about platitudes or pronouncements, it is something we can be genuinely excited about. "Our neighbouring countries can share in and support this venture, just as we will continue to support digitalisation and AI development in the region." Anwar added that policy clarity and governance reform in Malaysia have created an enabling environment for technology and AI development. He credited the New Industrial Master Plan and other national strategies for providing clear direction and certainty for investors and innovators. "That said, the real challenge lies in effective execution, which is a common struggle for many countries including ours. "That is why when I began this journey with my team, we focused first on governance. Unless we establish sound governance, we cannot ensure business discipline, policy clarity and efficient, transparent execution. "If we do that, we can showcase Malaysia not only as a centre for AI development but also as a high-end innovation hub that adds real value to the industry."
Barnama
21-05-2025
- Business
- Barnama
Malaysia Intensifies Aerospace, Maritime Growth To Strengthen Economic Resilience
KUALA LUMPUR, May 21 (Bernama) -- The Malaysian Investment Development Authority (MIDA) reaffirmed the nation's commitment to accelerating growth in the aerospace, and shipbuilding and ship repair (SBSR) sectors to strengthen economic resilience. In a statement today, MIDA said that these industries are key pillars of the New Industrial Master Plan (NIMP) 2030, which aims to transform Malaysia into a future-ready, innovation-driven economy. 'As global supply chains face ongoing disruptions and the race for technological leadership intensifies, Malaysia is doubling down on its strategic industries to secure long-term economic resilience and regional influence,' it said. MIDA said Malaysia is leveraging its strategic location and skilled workforce to become a preferred hub for advanced aerospace and maritime industries. 'MIDA is actively supporting investors to pioneer sustainable technologies, strengthen supply chains, and build industrial ecosystems that withstand global headwinds,' it said. MIDA said it also aims to elevate Malaysia's status as a regional aerospace hub, particularly in maintenance, repair and overhaul (MRO), manufacturing, and engineering services. 'With the global aerospace value chain shifting towards Asia, Malaysia is seizing the opportunity to enhance its competitiveness and capabilities. 'Malaysia's aerospace ambitions gained significant momentum in 2024, with nine approved projects valued at RM1.4 billion, 71 per cent from international investors. 'This achievement underscores growing global confidence in Malaysia's comprehensive aerospace ecosystem, particularly in MRO, manufacturing and engineering services,' it said.
