Latest news with #SivasuriyamoorthySundaraRaja
The Sun
27-05-2025
- 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.
Malaysian Reserve
27-04-2025
- Business
- Malaysian Reserve
Malaysia-Japan JV powers ahead with RM142m solar project in Kedah
A NEW cross-border renewable-energy (RE) partnership is set to boost Malaysia's clean energy ambitions following the announcement of a RM142 million solar project in Gurun, Kedah. The initiative, unveiled at Expo 2025 Osaka, marks a significant milestone for Malaysia's positioning as a regional hub for sustainable investment. The 29.99 MW project will be developed under SM01 Sdn Bhd, a special-purpose vehicle jointly owned by Solarvest Asset Management Sdn Bhd, HSS Engineering Sdn Bhd and Shizen Malaysia Sdn Bhd, a subsidiary of Japan's Shizen Energy Inc. The project is expected to reduce over 1.1 million metric tonnes of carbon emissions throughout its lifetime. The development was facilitated by the Malaysian Investment Development Authority (MIDA) under the Corporate Green Power Programme and forms part of the government's broader Green Investment Tax Incentive initiative. The effort aligns with Malaysia's National Energy Transition Roadmap (NETR), which charts the country's path toward a low-carbon economy. 'This partnership exemplifies Malaysia's commitment to sustainable development and our position as a prime destination for green investments in the region. The SM01 project aligns perfectly with our National Energy Transition Roadmap, demonstrating how international collaboration can accelerate our journey toward a low-carbon future,' MIDA deputy CEO Sivasuriyamoorthy Sundara Raja said speaking at the launch. The equity structure of SM01 reflects a balanced international collaboration, with each partner holding an equal stake. The involvement of Shizen Malaysia brings valuable Japanese expertise in renewable energy financing, development, and engineering, while local partners Solarvest and HSS will drive project delivery, engineering and asset management. Solarvest Group CEO Davis Chong Chun Shiong said the support from MIDA underscores growing confidence in Malaysia's clean energy infrastructure players. 'This incentive boosts the financial sustainability of the SM01 project and demonstrates the value of international collaboration. We remain focused on delivering impactful, commercially viable clean energy projects by leveraging international partnerships and innovation-driven solutions,' he said. Shizen Malaysia CEO Reza Ikram noted that Malaysia's stable economic landscape and supportive regulatory framework make it an attractive destination for green investors. HSS Engineers Bhd executive vice chairman and acting group CEO Tan Sri Kuna Sittampalam said the group is proud to support the initiative as engineering and project management partner. Held under the theme 'Weaving a Future in Harmony', the Malaysia Pavilion at Expo 2025 Osaka is designed to showcase the country's inclusive and innovation-driven economic vision. The launch of SM01 further underscores Malaysia's intent to attract high-quality investments in renewable energy, green technology and ESG-aligned infrastructure. The SM01 project stands not only as a commercial success, but also as a symbolic leap forward in Malaysia-Japan bilateral collaboration in the RE sector. — TMR This article first appeared in The Malaysian Reserve weekly print edition
The Star
22-04-2025
- Business
- The Star
Jingxing Group commits RM1.9bil to Malaysia expansion
KUALA LUMPUR: Global paper manufacturer Zhejiang Jingxing Paper Joint Stock Co. Ltd's wholly owned subsidiary, Jingxing Holdings (M) Sdn Bhd, has committed RM1.9 billion to a phase two expansion of its operations in Banting, Selangor. In a joint statement on Monday, Jingxing Paper and the Malaysian Investment Development Authority (MIDA) said the expansion will introduce advanced manufacturing lines supported by integrated thermal power, water treatment and wastewater management systems. The project will add 600,000 metric tonnes of annual Kraft Liner production capacity, bringing the Chinese firm's total investment in Malaysia to RM3 billion. It said the facility's automation systems are expected to create 500 new jobs and generate over RM45 million in annual local operating expenditure. "The expansion strengthens Malaysia's export capabilities, with 70 per cent of production earmarked for international markets. "This investment builds on Malaysia's growing paper manufacturing sector, which attracted RM877.9 million in 2024, including RM578.4 million in foreign investments,' it said.. MIDA deputy chief executive officer (investment promotion and facilitation) Sivasuriyamoorthy Sundara Raja said Jingxing's latest commitment aligns with national priorities to promote sustainable industrial growth. "This facility stands out not only for its scale, but for its environmental engineering-from closed-loop water treatment systems to cogeneration-based energy recovery. "Malaysia offers a stable, rules-based investment environment, and we are seeing long-term commitments from strategic investors such as Jingxing,' he said. Meanwhile, Jingxing Malaysia director and deputy chairman Wang Zhiming said the company's decision to expand was underpinned by Malaysia's strategic location and continued support from federal and Selangor state governments. "The new plant, once completed, will further strengthen our product range and quality. We are focusing on service efficiency, local hiring, and supply chain integration. "We aim to drive technological innovation and build long-term partnerships in the paper industry, while continuing to meet customer expectations for sustainably produced goods,' he said. - Bernama
