Latest news with #WongSiewHai
The Sun
15 hours ago
- Business
- The Sun
Malaysia navigating global challenges in digital transformation
KUALA LUMPUR: Malaysia is navigating a complex global environment shaped by geopolitical tensions, ongoing trade wars and the impact of tariffs across industries. Despite these challenges, the country is presented with significant opportunities in artificial intelligence, digital transformation and green technologies, requiring a thoughtful balance between risk and potential. Malaysia Semiconductor Industry Association president Datuk Seri Wong Siew Hai stated that Malaysia ranks 16th in global assembly production and 13th in assembly test capacity. 'But alongside these challenges, we also see significant opportunities in AI, digital transformation and green technologies, requiring us to balance both risk and potential thoughtfully,' he said during a panel discussion at the Malaysia Economic Forum 2025 today. In contrast, the global semiconductor market, valued at approximately US$600 billion (RM2.5 trillion) in 2023, is projected to grow rapidly and reach US$1 trillion by 2030, primarily driven by advances in artificial intelligence (AI) and digital transformation. Echoing this sentiment, eCouldvalley Technology Malaysia country director Sandy Woo emphasised that technology, especially digital and ICT, should be seen as a pervasive enabler that shapes lives, conducts business and protects national interests. 'Digitalisation is not just a trend – it is transforming public sector services and driving economic reform. 'We must continue to innovate, embracing tools like e-invoicing and adapting to new taxation landscapes, to strengthen business confidence and position Malaysia as a leader within Asean,' said Woo, who is also the National Tech Association of Malaysia councillor. Both agree that innovation – from digital public services to new taxation tools, such as e-invoicing – is vital to strengthening business confidence and positioning Malaysia as a leader within Asean. Wong said the semiconductor, electronics, and electrical industry in Malaysia, while representing about 1% of specific industry segments, contributes approximately 6% to the country's gross domestic product and supports employment for around 630,000 people, making it a significant sector in the national economy. Kenanga Investment Bank Bhd head of economic research Wan Suhaimie Wan Mohd Saidie said considering the current state of the economic system, it is clear that inflation is not just a temporary phenomenon. 'But rather a structural problem, resulting from a monetary system that is fundamentally engineered to produce inflation – where central banks respond to insufficient money in circulation by printing more, thereby perpetuating this inflationary environment for decades,' he shared. Wan Suhaimie added that if the conflict escalates in the Middle East and oil prices rise above US$80 per barrel – or even reach US$100 per barrel – this would compel governments to incur additional costs. FCA Capital Sdn Bhd chairman Dr Mazlan Ahmad said looking at the current state of globalisation, Malaysia must focus on leveraging and capitalising on its strengths, areas where the country already excel and have the potential to do even better. 'Although we face numerous crises globally, such as recent events in Iran and Ukraine, I choose to view these challenges as opportunities. Malaysia has the potential to become a haven for investment, business dealings, and education, as well as a destination for training and more. 'By fully exploring and utilising these abundant resources, I am confident that Malaysians will be able to secure a prosperous future – one where financial hardship and reliance on bank loans are minimised,' he said.
The Star
30-05-2025
- Business
- The Star
MSIA voices concern over tariffs
KUALA LUMPUR: The Malaysia Semiconductor Industry Association (MSIA) has released the latest findings from the MSIA Electrical and Electronics (E&E)/ Semiconductor Quarterly Pulse Survey for the first quarter of 2025. This ongoing survey aims to assess the sentiment, trends, challenges and opportunities within Malaysia's E&E or semiconductor industry on a quarterly basis. This quarter's survey is anchored on the implications of United States (US) tariffs, trade policies and international responses — particularly the ongoing investigation under Section 232 of the US Trade Expansion Act of 1962. While most E&E and semiconductor products have not yet been subjected to reciprocal tariffs, they are under review, which has raised alarm across the industry. The key findings are: MSIA members are currently studying the implications of the tariff to their respective companies. Companies surveyed expressed deep concern over what lies ahead. MSIA president Datuk Seri Wong Siew Hai said, 'Frequent changes to tariffs and export controls have disrupted supply chains, increased costs and slowed the global economy. 'These disruptions are expected to lower global demand, which will inevitably impact Malaysia and other major trading nations. 'MSIA is hopeful that the Malaysian Government will be able to negotiate with the United States for more favourable tariff terms — especially in light of Malaysia's five-decade-long contribution to the rise of the US semiconductor giants.' MSIA acknowledges and commends the constructive efforts of the Malaysian Government to defend the nation's interests. MSIA is actively engaging with relevant ministries and agencies to ensure the industry's concerns and recommendations are well represented in negotiations with the US.
The Star
27-05-2025
- Business
- The Star
Semiconductor industry experts brainstorm on sanctions compliance
Some of the participants at the industry engagement event to exchange insights on the practical realities of sanctions compliance. SANCTIONS compliance has emerged as one of the top three operational challenges for semiconductor companies, according to the majority of participants at an industry engagement. The recent event titled 'Strengthening Sanctions Compliance in the Global Semiconductor Sector' was jointly organised by Malaysia Semiconductor Industry Association (MSIA) and Deloitte. It brought together industry leaders and trade compliance experts in Penang to explore the increasing complexity of international sanctions regimes and their implications for the Malaysian semiconductor sector. The symposium provided a timely platform for stakeholders to exchange insights on the practical realities of sanctions compliance. Participants highlighted key concerns around export controls, dual-use technologies, supply chain transparency, and end-use or end-user monitoring. Key industry representatives and trade compliance specialists discussed how the Malaysian semiconductor sector could better navigate the increasingly complex environment shaped by international sanctions regimes. Industry leaders shared first-hand insights on operational realities, barriers to legitimate trade and the need for enhanced collaboration between industry and government to ensure compliance frameworks were effective, clear and actionable. The insights gathered will contribute to the development of practical guidance to improve industry understanding, enhance supply chain resilience and support global trade. Deloitte partner and forensic head Jules Colborne-Baber said sanctions compliance had become an operational imperative for the semiconductor sector globally. 'Today's dialogue in Penang demonstrates the industry's commitment to managing compliance risks proactively while continuing to drive innovation and competitiveness. 'Deloitte is proud to support this important conversation, helping to ensure that compliance frameworks are both effective and workable across global supply chains.' Malaysia Semiconductor Industry Association president Datuk Seri Wong Siew Hai said Malaysia's semiconductor industry must be both competitive and compliant to thrive globally. 'As trade rules evolve, so must our readiness. This collaboration with Deloitte strengthens our industry's ability to meet global standards and reinforces Malaysia's position as a trusted, forward-looking technology hub,' he said.
New Straits Times
16-05-2025
- Business
- New Straits Times
Semiconductor, E&E firms pressured by US tariff: MSIA
KUALA LUMPUR: Malaysia's semiconductor and electrical and electronics (E&E) companies will not be able to absorb the United States' (US) tariff implications or maintain prices for US customers, according to the Malaysia Semiconductor Industry Association (MSIA). Findings from the MSIA E&E/Semiconductor Quarterly Pulse Survey for the first quarter of 2025 revealed that 74 per cent of the respondents agreed that US policy and tariff will deter investments and weaken Malaysia's attractiveness, while 65 per cent said they will impact Malaysia's E&E industry negatively over the next 12 months. The quarterly ongoing survey, conducted among more than 300 members, assesses the sentiment, trends, challenges, and opportunities within Malaysia's E&E and semiconductor industry. It is anchored on the implications of US tariffs, trade policies, and international responses, particularly the ongoing investigation under Section 232 of the US Trade Expansion Act of 1962. In a statement, MSIA president Datuk Seri Wong Siew Hai said frequent tariff changes and export controls have disrupted supply chains, increased costs, and slowed the global economy. "These disruptions are expected to lower global demand, inevitably impacting Malaysia and other major trading nations. "MSIA is hopeful that the government will be able to negotiate with the US for more favourable tariff terms, especially in light of Malaysia's five-decade-long contribution to the rise of US semiconductor giants," he said. "MSIA acknowledges and commends constructive government efforts to defend the nation's interests, and actively engages with relevant ministries and agencies to ensure the industry's concerns and recommendations are well-represented in negotiations with the US," it said.
South China Morning Post
26-03-2025
- Business
- South China Morning Post
Malaysia tightens chip regulations amid US scrutiny over Nvidia diversions to China
Malaysia 's semiconductor industry has called for strict monitoring of chip movements throughout the supply chain, including those extending beyond its borders, as the US pushes for tighter regulations on the suspected diversion of sanctioned high-end chip shipments to China through the Southeast Asian nation. Advertisement Authorities in Singapore and the US are investigating claims that advanced chips from Silicon Valley giant Nvidia were fraudulently moved to China. The chips reportedly came from US$390 million worth of servers sent to Malaysia, potentially violating US sanctions on China 's access to high-end chips for artificial intelligence ( AI ) development. Malaysia's Trade Minister Tengku Zafrul Abdul Aziz said on Sunday that the government planned to tighten regulations to closely track semiconductor shipments, in response to US pressure. A senior industry representative said tightening regulations was a 'must do' if Malaysia hoped to placate US concerns, but added that it had to apply to the entire chain. 'The [production] system is far more complex than just building [servers] in Singapore or Malaysia. The flow can start all the way in other countries,' said Wong Siew Hai, president of the Malaysian Semiconductor Industry Association. Advertisement 'It is not just about building a server. It must cover the whole process flow, from the time you receive the chips to building the server and shipping it out. All of it has to follow the same tight control.'
