Latest news with #StateInvestment
New Straits Times
13 hours ago
- Business
- New Straits Times
Johor first state to launch cooking oil subsidy sales via eCOSS app
JOHOR BARU: Johor has become the first state to roll out retail sales of subsidised cooking oil packets through the eCOSS mobile application, covering 29 "point of sale" (POS) locations under Phase Two of the Subsidised Cooking Oil Distribution Programme. State Investment, Trade, Consumer Affairs and Human Resources Committee chairman Lee Ting Han said the eCOSS (Cooking Oil Price Stabilisation Scheme) app records each 1kg subsidised cooking oil packet transaction, from manufacturers, packagers, wholesalers, and retailers, down to final consumer purchases. The pilot programme, previously tested under the Madani Rahmah Sales initiative, is now extended to participating supermarkets, with purchases limited to three packets per transaction to prevent leakages and ensure supplies reach eligible Malaysians. "To ensure a smooth implementation, Johor Domestic Trade and Cost of Living Ministry officers will be stationed at all 29 outlets between Aug 11 to 15 to assist with registration, app usage, and conduct 'training of trainers' sessions for shoppers and supermarket staff," Lee said after launching the initiative at the Maslee B5 Supermarket today. The federal government allocates 3.3 million subsidised packets monthly to Johor, with RM5 per packet borne by the government. Supplies will be replenished regularly by 19 packaging and wholesale firms to guarantee availability, particularly for B40 households. Lee said the system would strengthen supply chain monitoring and address past complaints of shortages in certain areas. "If it proceeds smoothly, eCOSS will be expanded to other locations," he said. The eCOSS app is available for download on Google Play and the App Store.
New Straits Times
31-07-2025
- Business
- New Straits Times
JS-SEZ, RTS and Digital Push: Johor backs 13th MP as roadmap to future
JOHOR BARU: Johor welcomed the 13th Malaysia Plan (13MP) as a strategic and timely blueprint that aligns with its Maju Johor agenda and ambition to become a developed state by 2030. Johor Maju is the state's vision to achieve developed status by 2030 through inclusive, sustainable, and high-impact growth. It focuses on strengthening the economy, upgrading infrastructure, and improving the rakyat's quality of life. Key priorities include the Johor-Singapore Special Economic Zone (JS-SEZ), digital transformation, and green development. State Investment, Trade, Consumer Affairs and Human Resources committee chairman Lee Ting Han said Johor recorded the highest gross domestic product (GDP) in the country with 6.4 per cent. "It proves Johor is on the right track, and 13MP will further fuel this "The 13MP supports Johor's vision through the recognition of JS-SEZ as a regional economic driver, and by streamlining cross-border investment via the Invest Malaysia Facilitation Centre Johor (IMFC-J)," he said in a statement today. Key infrastructure projects under 13MP include the Gemas–Johor Baru double-tracking, the Elevated ART (E-ART) system in Iskandar, and Senai Utara–Machap PLUS upgrades, all aimed at strengthening regional mobility and logistics. The RTS Link to Singapore was described as a "transformational project" that will ease border congestion, support daily commuter flows, and enhance Johor–Singapore economic integration. Lee also welcomed the planned expansion of Tanjung Pelepas port to boost maritime trade capacity and Malaysia's regional logistics standing. On social development, the inclusion of the Sultanah Aminah Hospital 2 will ease congestion in Johor's healthcare system and expand public access to medical services. Johor also lauded the plan's focus on AI adaptation, digital infrastructure and high-value data centre investments, in line with its growing role as a national leader in digital, renewable energy and semiconductor industries. 13MP's support for green economy efforts, including AIR2040 water reform, smart grid systems, and battery energy storage, he said was timely to reinforced Johor's sustainability agenda. The recognition of Johor as a host state for the Strategic Tourism Investment Zone (STIZ) was also welcomed. Lee said it will boost tourism growth in the run-up to Visit Johor Year 2026. "RMK13 is a comprehensive roadmap that will elevate Johor's development, empower its people, and reinforce our position as a new engine of national growth," he added.
Irish Times
26-07-2025
- Business
- Irish Times
Amazon is not the only multinational losing confidence in Ireland. Will a €102bn plan fix it?
This week we got a State investment plan with no list of projects and a pre-budget document with no estimate of the likely position of the public finances next year. Economic nerds like me felt short-changed. The first document was all uppy stuff about boosting investment and securing the future. The second doubled down on the scary backdrop provided by a changed world and the unpredictable actions of Donald Trump . The Government has clearly made a political decision to 'go for it' on State investment. But the document published this week was more a manifesto for the multinationals than a plan. It was a pitch to foreign investors, who have become increasingly outspoken about Ireland's energy and water infrastructure and the lack of housing for their staff . And it was a bid to try to allay public concern – on housing in particular. The head-wrecking details, including how to deliver it all – most notably in housing – are still being worked out. The decision by Amazon to abandon a project in northwest Dublin because of problems getting an electricity connection is by no means a first. There has been a building crisis of confidence in corporate headquarters in the US about Ireland's ability to deliver on these areas – and this week's plans are an attempt to send a message to these American boardrooms, who are central to our economic wellbeing. They will also look for evidence that Ireland can actually make this happen - reassurances over the years that the key infrastructure areas were being addressed have not been delivered on. READ MORE And so we have a €102 billion, five-year investment plan. It is, for sure, heading in the right direction. The Fiscal Council has estimated that Ireland's infrastructure is 20 per cent to 25 per cent behind other richer EU countries. In this context, the recent growth rate of the economy has been remarkable. But Ireland is now running hard into the infrastructural buffers. Turning this investment manifesto into a fully coherent plan and then implementing it will be a big task. Ireland has struggled to deliver on the scale of promised investment in recent years; Covid was factor, for sure, but the State missed opportunities to cash in on a time of fiscal plenty. Now, it plans to boost investment plans just as the outlook is getting uncertain. It is necessary – but it also carries some risk. It looks like a turning point may be approaching in the national finances, when more difficult decisions await and trade-offs have to be faced up to. The State has been swimming in cash in recent years – but the budget surplus is being eaten away. And this means some politically difficult choices, which have yet to be squarely faced. Corporate tax is still funding a spending rise across the board. The Government plans to increase current spending by almost 6.5 per cent next year, well ahead of inflation. However, the combination of a big investment plan and Donald Trump's policy decisions are changing Ireland's fiscal arithmetic. In the spring, the forecast budget surplus of revenue over spending for next year was €6.3 billion. And that was before any tariffs. This week's document does not update that figure. But on the basis of what we now know from this week's documents, economists have cut this forecast to around €2 billion. [ Taoiseach to 'delve into' Amazon's scrapping of Dublin plant over failure to secure power supply Opens in new window ] As Goodbody stockbroker economist Dermot O'Leary pointed out, this is a small margin for error in the light of the tariff threats and the hugely concentrated nature of our tax base. And the gamble is not so much that the State might have to borrow a bit for a few years to ramp up investment. It is that a bigger hole might appear, because such a large part of our corporate tax is potentially transitory – based on multinational tax planning rather than economic activity here – and that policy changes in the US could lead to some of this cash leaving. The Fiscal Council estimates that subtracting the tax planning froth, the public finances would be heading for a deficit next year of €13 billion. [ Corporation tax surge a sign investors have not been put off by economic uncertainty just yet Opens in new window ] Now we are, of course, into 'crying wolf' territory here. The council, Central Bank, Department of Finance and most of us who write about economics have been warning about this risk for years. In the meantime, the tax paid by multinationals has just kept heading higher. And this may not be over yet. The Fiscal Council has said that corporate tax may again outperform this year compared to forecasts, which could give the Government some leeway in 2026. But that does not remove the risk of hanging on to a tax pile which has grown so large than it has now attracted jealous eyes not only from the rest of the EU but from Washington DC. And the State investment plans lower the room for manoeuvre if something goes wrong. If you plan to spend another €34 billion over the next five years, it has to come from somewhere, and using an expected budget surplus each year to help pay is part of the plan. Already, there are signs of the budget scope tightening. We are seeing the potential juggling in Budget 2026, with the hospitality VAT rate possibly deferred until midyear to leave scope for an income tax package. But that is a bet that the cash will be there to pay for a full-year VAT cut in 2027. And this is really only budgetary small beer, if the Government is to really slow the growth of day-to-day spending to leave room for more State investment. If it does not, then any fall-off to corporate tax will leave tricky decisions. For example, the Government is committed to putting money into two State funds for the future. It is legally obliged to do so, though can stop if there is a downturn. But if the numbers do get tight, does the State borrow cash to then invest in these funds – which would look very strange? Or does it divert money from other cash holdings? Sitting watching will be the National Treasury Management Agency, which was set up to borrow on behalf of the State. It has had a quiet time on this front in recent years, with the budget in surplus and a requirement just to keep things ticking over and refinance maturing debt. Now, as the State finances tighten, it may soon be back in business.
New Straits Times
18-07-2025
- Business
- New Straits Times
Johor drafting measures to tackle rising food, transport and housing costs
KULAI: The Johor government is formulating mitigation measures to address rising food, transportation and housing costs, particularly in Johor Baru. State Investment, Trade, Consumer Affairs and Human Resources Committee chairman Lee Ting Han said a discussion on the matter was held today with the relevant state executive councillors. The meeting also touched on efforts to improve public transportation services and expand the Muafakat Johor bus network, while seeking ways to ease the people's financial burden. "We take note of public concerns raised during on-the-ground engagement and through social media. "The people of Johor are worried about what's to come, given the state's rapid economic growth. "So, how do we ensure that people can benefit from this growth, so that everyone, especially the younger generation, chooses to remain in Johor and has access to promising career prospects? "These are some of the challenges we must address," he told a press conference after attending the Sirim Silaturasa 2025 event at the Sirim Johor office today. He was commenting on a recent statement by Menteri Besar Datuk Onn Hafiz Ghazi, who said that Johor Bahru's cost of living had surpassed that of several other major Malaysian cities. Lee said that supply and demand are among the factors contributing to the rising costs, in addition to the state's rapid economic growth. "On housing, we've received feedback that rental rates are quite high. "As announced by the menteri besar, we will accelerate the construction of affordable housing. "Initially, we aimed to build 30,000 units by 2030, but the menteri besar has raised the target to 100,000 units by that time. "We are now making plans to meet this target," he said. Lee said Onn Hafiz is expected to announce initiatives addressing these concerns in the upcoming Johor Budget 2026, scheduled in November. – Bernama
The Sun
18-07-2025
- Business
- The Sun
Johor drafting measures to tackle rising food, transport and housing costs
KULAI: The Johor government is formulating mitigation measures to address rising food, transportation and housing costs, particularly in Johor Bahru. State Investment, Trade, Consumer Affairs and Human Resources Committee chairman Lee Ting Han said a discussion on the matter was held today with the relevant state executive councillors. The meeting also touched on efforts to improve public transportation services and expand the Muafakat Johor bus network, while seeking ways to ease the people's financial burden. 'We take note of public concerns raised during on-the-ground engagement and through social media. The people of Johor are worried about what's to come, given the state's rapid economic growth. 'So, how do we ensure that people can benefit from this growth, so that everyone, especially the younger generation, chooses to remain in Johor and has access to promising career prospects? These are some of the challenges we must address,' he told a press conference after attending the SIRIM Silaturasa 2025 event at the SIRIM Johor office here today. He was commenting on a recent statement by Menteri Besar Datuk Onn Hafiz Ghazi, who said that Johor Bahru's cost of living had surpassed that of several other major Malaysian cities. Lee said that supply and demand are among the factors contributing to the rising costs, in addition to the state's rapid economic growth. 'On housing, we've received feedback that rental rates are quite high. As announced by the Menteri Besar, we will accelerate the construction of affordable housing. 'Initially, we aimed to build 30,000 units by 2030, but the Menteri Besar has raised the target to 100,000 units by that time. We are now making plans to meet this target,' he said. Lee said Onn Hafiz is expected to announce initiatives addressing these concerns in the upcoming Johor Budget 2026, scheduled in November. - Bernama
