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New Straits Times
23-05-2025
- Business
- New Straits Times
Li Qiang at Asean-GCC-China Summit boosts regional cooperation
KUALA LUMPUR: Chinese Premier Li Qiang's presence at the inaugural Asean-Gulf Cooperation Council (GCC)-China Summit in Kuala Lumpur next week reflects China's strong commitment to regional cooperation. President of the Asean Development Partnership Chamber of Commerce Datuk Tee Siew Kiong said Li's attendance is also expected to inject fresh impetus into Asean-China economic and trade relations. According to Tee, in the current climate of global economic uncertainty, countries are actively seeking new strategic partners to reduce reliance on a single economic bloc and to enhance economic resilience. "China's rise as a global economic power has opened significant opportunities for regional countries," he told Bernama. Tee said China's proposed "dual circulation" development strategy, which combines domestic market development with international cooperation, has immense potential for Asean member countries. He said China could increase investment in technology and resources in Asean, using local raw materials to produce goods and subsequently export them to the Chinese market, fulfilling domestic demand while driving mutual economic growth. For example, he noted that agricultural cooperation between Malaysia and China has a promising future. In addition to importing durians and young coconuts from Malaysia, both countries could expand collaboration in agricultural technology and green agriculture. Through technological innovation, the value add from agriculture can be improved, and a sustainable supply chain can be established. "As Asean economies grow, they will also import more products from China. If these transactions are conducted using the renminbi, it will strengthen regional financial cooperation," he said. Tee also emphasised that Asean-China cooperation should be mutually beneficial based on win-win outcomes, and not via the influx of cheap goods that harm local retail industries. "Healthy cooperation boosts mutual competitiveness and brings prosperity to both sides," Tee said. He added that Asean's economic rise will amplify its voice and influence on the international stage, making the region more resilient in facing global economic uncertainties. Therefore, Tee is hopeful that the summit will stimulate the Malaysian and regional economy. "Leaders must reach consensus on strengthening intra-Asean trade, harmonising regulatory frameworks, and reducing trade barriers to build a more robust and resilient regional economic system," he added.
New Straits Times
18-05-2025
- Business
- New Straits Times
Malaysia's NES to expand exports to North America, South Asia and Middle East
KLANG: Residential security door specialist NES Security Door Marketing Sdn Bhd has outlined an export expansion targeting Taiwan, the Philippines and Australia this year. NES' future plans are to venture into North America, South Asia and the Middle East. The company took a major step forward with the opening of its new factory at the Meru Barat industrial area in Klang, Selangor. Founder and chief executive officer Datuk Seri Dom Tee said the new factory will boost NES' production capacity from 800 to 2,000 units per month. "The opening of the new plant is timely and aligns with the company's strategy to penetrate the growing export market." Tee said in 2024, export-oriented industries contributed 70.1 per cent of total national manufacturing sales, a 7.1 per cent increase from the previous year. "This reflects a strong indicator of Malaysia's global competitiveness. "With an annual growth target of 20 per cent, NES aims to generate RM45 million in annual export revenue by 2027," he said at the launch on Saturday. NES also formalised an international partnership with Switzerland's Skinrock AG, a pioneer in ultra-thin natural stone veneer technology, through a memorandum of understanding (MoU). According to Tee, the agreement is not just about expanding operations, but marks the beginning of NES' long-term strategy to produce design-driven, technology-enabled and uniquely material-based products with a clear mission to enter the global premium market. "This agreement is a significant milestone, but it's just the beginning of a larger journey. We're not just making doors. What we're building is a brand capable of competing globally. "Our goal is to be publicly listed by 2028, with a target market valuation of RM400 million. With strategic partnerships and consistent growth, we believe we can become a platform for local companies to shine on the global stage," he said. One of the initial initiatives from the partnership is the launch of a new 'NES x Skinrock' series, featuring natural stone veneer as a key design element. "This range will also showcase the Master Craft's Artist special collection – limited edition doors co-designed with both local and international designers, blending artistic creativity with local craftsmanship. "This initiative not only strengthens NES' position in the market but also demonstrates how local industry players can harness global technology to create competitive, unique, world-class products," Tee said. Skinrock founder Uelli Stiffler said the company is excited to break into the Southeast Asian market through its partnership with NES. "Working with NES opens up new opportunities to explore applications of our material technology and bring this natural stone veneer innovation to a broader market. "We hope this collaboration will inspire more cross-border partnerships between European and Malaysian industries," he said.
The Sun
08-05-2025
- Business
- The Sun
Kerjaya Prospek, Majestic Gen in RM162m Johor deal
KUALA LUMPUR: Construction company Kerjaya Prospek Group Bhd's wholly owned subsidiary Kerjaya Prospek (M) Sdn Bhd has accepted a letter of award from Majestic Gen Sdn Bhd for a building contract worth RM162 million in Johor Bahru. The contract entails main building works for Gen Rise, a 47-storey transit-oriented serviced apartment development near the customs, immigration and quarantine (CIQ) and Bukit Chagar Rapid Transit System (RTS). The project comprises a single block with 732 units, nine levels of podium parking, and other supporting facilities. Construction, scheduled to commence on Aug 1, is expected to be completed within 36 months. Kerjaya Prospek CEO and executive director Tee Eng Tiong said the construction of Majestic Gen's is the company's maiden project in Johor and its first contract win in the state for 2025. 'Geographically, our focus remains on three growth regions namely Klang Valley, Penang and Johor, where we see strong demand and vibrant development activities continue to shape the future of urban living. 'With this latest RM162 million job, our year-to-date new contract wins have reached RM870.3 million, placing us well on track to achieve our RM1.6 billion target for the year,' he said in a statement. Tee said the total outstanding order book now stands at RM4.6 billion, providing healthy earnings visibility and a solid foundation for continued growth over the next four financial years. Majestic Gen CEO Datuk Hoo Kim See said the company had appointed Kerjaya Prospek, a reputable construction firm, to build Gen Rise – its first project in Johor. 'This is a truly momentous occasion for both companies as we aim to deliver quality and sustainable products to our esteemed buyers. 'We hope that this collaboration will further boost the market's confidence in our current and future developments with an estimated GDV of RM3.7 billion,' he said.
The Star
06-05-2025
- Business
- The Star
Support for Miti as issuer of certs
Ministry's decision will reinforce Malaysia's export credibility, say groups PETALING JAYA: The appointment of the Investment, Trade and Industry Ministry (Miti) as the sole issuer of Non-Preferential Certificates of Origin (NPCO) has received broad support from business chambers and trade groups, who say the measure will help protect Malaysia's trade integrity, particularly with the United States. However, industry leaders caution that the possibility of poor execution, lack of preparedness and insufficient infrastructure could result in bottlenecks and delays, potentially disrupting shipments and hurting exporters nationwide. The Malaysian International Chamber of Commerce and Industry (MICCI) said the government's decision to centralise the issuance of the certificates will reinforce Malaysia's export credibility and protect legitimate trade flows, particularly to the United States. ALSO READ: Experts: Move will address issue of transhipment 'Exporters are advised to stay updated on the revised application procedures and to engage closely with the ministry to ensure full compliance with the new requirements,' MICCI president Christina Tee said. To support compliance and reduce the risk of transhipment-related offences, MICCI is urging exporters to maintain clear, comprehensive and transparent supply chain records. 'Businesses must declare origin of products accurately and avoid any practices that could be perceived as relabelling or misrepresentation,' she added. ALSO READ: Miti to be sole issuer of certificates of origin for US-bound shipments She also encouraged companies to take part in awareness and capacity-building programmes organised by Miti and the Royal Malaysian Customs Department, and to cooperate fully during verification and audit exercises. However, Tee acknowledged that recent tariff measures imposed by the United States could present challenges by increasing operational costs and reducing competitiveness in the US market. 'To remain resilient, MICCI encourages its members to diversify their markets, invest in value-added strategies and enhance their product offerings. 'At the same time, businesses must maintain full compliance with all trade regulations.' Tee said MICCI supports the government's continued engagement with US counterparts to address these concerns and to promote a fair, open and rules-based trading environment. Previously, NPCOs for US-bound exports were issued by business councils, chambers or associations appointed by Miti. These trade documents verify the origin of goods for international shipments, though they are not used to claim preferential tariff rates. Tee said the chamber is prepared to forgo earnings from issuing NPCOs in the interest of national priorities. 'MICCI is willing to let go of that revenue and support Miti in issuing NPCOs so that the nation can emerge stronger during this period,' she said. Tee added that while NPCOs are a source of income, US-bound exports make up only about 15% of MICCI's certification activities. She was responding to the announcement by Miti on Monday that the ministry would serve as the sole issuer of NPCOs for US shipments effective yesterday. The ministry cautioned that any attempt to circumvent tariffs – including making false or misleading declarations of value or origin – will be treated as a serious offence. Malaysia Consortium of Mid-Tier Companies (MCMTC) honorary president Callum Chen raised concerns over Miti's preparedness to handle the new system. He said the absence of a dedicated facility and trained personnel could result in delays, as exporters now have only one access point instead of several. 'Does Miti have enough space and officers? How long will verification take, and how will exporters outside the Klang Valley be accommodated?' he asked. Chen stressed the need for a comprehensive nationwide solution. 'It's not just about space – it's about managing crowds, traffic, parking and logistics,' he said. 'Execution is key, even with a good plan,' he said, highlighting concerns from exporters in Johor, Penang, Sabah and Sarawak. The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) also called for a smoother transition as Miti takes over full responsibility on the issuance of the certificates. Its treasurer-general Datuk Koong Lin Loong proposed that the chambers assist by reviewing and verifying applications before Miti's final approval to help reduce the ministry's workload and ensure efficiency. 'We support the centralisation, but caution against implementing it too abruptly. Many exporters have yet to secure their certificates and a sudden change could lead to disruptions,' he said. Similarly, SME Association of Malaysia president Chin Chee Seong said Miti's ability to manage the transition effectively will depend on robust digital integration and timely support. He urged continued collaboration with industry associations to ensure accessibility and a better understanding of businesses' backgrounds. 'With every export requiring a certificate, this change impacts every transaction. There must be a clear, efficient process to avoid delays. The success of this transition will become clearer in the weeks ahead,' he said.
The Star
06-05-2025
- Business
- The Star
MICCI backs Miti as issuer of certs for US exports
MICCI president Christina Tee. KUALA LUMPUR: The Malaysian International Chamber of Commerce and Industry (MICCI) supports the government's decision to appoint the Investment, Trade and Industry Ministry (Miti) as the sole issuer of non-preferential certificates of origin (NPCO) for exports to the United States. Previously, business councils, chambers, or associations appointed by Miti were responsible for issuing NPCOs to the US market. MICCI president Christina Tee said the chamber is prepared to forgo some of its revenue from the issuance of the certificates in the interest of national economic priorities. 'As MICCI, we are willing to let go of that revenue and support Miti in issuing the NPCOs so that the nation can come out strong during this time,' she said during a media luncheon to celebrate the chamber's 188-year legacy in championing the business community and supporting Malaysia's economic growth. While NPCOs represented a source of income for the chamber, US-bound exports accounted for about 15% of its certifications. 'We cannot have it both ways. If we want the nation to succeed, we must make sacrifices,' she said. Tee also highlighted MICCI's stringent NPCO issuance policy, saying the chamber only issues them to members subject to annual reviews. 'If the members are not genuinely manufacturing here, we will not issue the certificate. MICCI has always maintained transparency and strict adherence to guidelines,' she said. Tee expressed confidence in Miti's experience, pointing to the certificates for countries such as India and Turkiye, which had import tax constraints. 'The concern now is whether the system can handle the significantly high workload,' she said. Previously, certificates to Turkiye or India could be processed within two weeks. With the United States now in the picture, the workload has grown, but Tee noted that Miti's team is hardworking and dedicated. 'For sea shipments, there is usually a two-week window between loading and arrival, which gives sufficient time for the certificate of origin to be processed and sent. 'The certificate can be emailed later, allowing the process to run parallel with shipment preparations. This can help avoid delays,' she added. — Bernama
