logo
Johor-Singapore SEZ will transcend political cycles, says Rafizi

Johor-Singapore SEZ will transcend political cycles, says Rafizi

Yahoo23-05-2025
Rafizi has publicly vowed to resign from the Cabinet if he fails to retain the deputy presidency of Parti Keadilan Rakyat (PKR)
The Johor-Singapore Special Economic Zone (JS-SEZ), as a bilateral initiative, must transcend political cycles, Minister of Economy Datuk Seri Mohd Rafizi Ramli said on Monday.
The JS-SEZ must 'never depend on the sitting administration of the day, or the whims and desires of individual politicians', Rafizi said in his keynote address at the JS-SEZ Partners Dialogue: Advancing Facilitation event. The zone will continue to be a national priority in the coming years, he said.
'My time here is temporary, and there will eventually be another minister of economy to replace me,' he said. 'The last thing we need is for all the momentum, attention, and excitement to go to waste.'
The comment comes at a time when he is facing what analysts say is an uphill battle against Nurul Izzah Anwar, the daughter of Prime Minister Datuk Seri Anwar Ibrahim, for the deputy president post of Parti Keadilan Rakyat (PKR).
Rafizi has publicly vowed to resign from the Cabinet if he fails to retain the deputy presidency. Johor Menteri Besar Datuk Onn Hafiz Ghazi thanked Rafizi as the architect of the JS-SEZ and for his support to the state at the same event.
Early indicators are encouraging for the JS-SEZ, with foreign direct investment interest in Johor showing strong momentum, Rafizi said on Monday.
Rafizi also reiterated that coordination between federal and state authorities, particularly Johor, and collaboration with the Ministry of Investment, Trade and Industry have been central to maintaining the project's momentum.
Malaysia and Singapore formally signed an agreement in January 2025 to create the zone that aims to attract 100 projects worth RM100 billion within its first decade and create some 100,000 new jobs in high-value economic sectors.
To support the JS-SEZ, the government has announced incentives, including a special corporate tax rate, to lure investors to set up shop in the zone that stretches from Kulai and part of Pontian to Pengerang.
See Also:
Click here to stay updated with the Latest Business & Investment News in Singapore
Rafizi: Johor-Singapore SEZ comprehensive blueprint to be finalised by end-2025
Maybank targets JS-SEZ cross-border flows, steps up push in Asean and Hong Kong
JS-SEZ to bridge supply chain barriers in tariff wars
Read more stories about where the money flows, and analysis of the biggest market stories from Singapore and around the World
Get in-depth insights from our expert contributors, and dive into financial and economic trends
Follow the market issue situation with our daily updates
Or want more Lifestyle and Passion stories? Click here
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Wilmar to become AWL Agri majority shareholder
Wilmar to become AWL Agri majority shareholder

Yahoo

time23 minutes ago

  • Yahoo

Wilmar to become AWL Agri majority shareholder

Wilmar International is set to become the majority owner of India-based AWL Agri. The Singapore group has agreed to buy more shares in the Fortune edible-oils maker from Indian conglomerate Adani Enterprises. Wilmar International and Adani Enterprises had been partners in the former Adani Wilmar venture until December. Adani Enterprises decided to leave the alliance to invest further in energy, utilities, transport and logistics. At the time, Wilmar International struck a deal buy 31.1% of the venture, which has been renamed AWL Agri. A month later, Adani Enterprises sold another 13.5% stake. In a stock-exchange filing yesterday (17 July), Wilmar said it held 43.9% of AW Agri, with Adani Enterprises retaining 30.4%. Wilmar has agreed to purchase another tranche of shares, representing a further 11-20% of AWL Agri, at Rs275 ($3.19) a share. When this new deal is finalised, Wilmar will hold between 54.9% and 63.9% of the business. The company said it will 'endeavour to bring in strategic partners/ identified investors' for the chunk of the new stake it does not take up. The remaining 10.4% Adani Enterprises owns in AWL Agri will be sold 'to a set of pre-identified investors', the Indian group said. Established in 1999, the now AWL Agri is headquartered in Ahmedabad. The business runs 24 factories in 15 cities. Its operations span edible oils, a wider range of food products and a third division called Industry Essentials, which takes in chemicals. Earlier this week, AWL Agri reported its fiscal first-quarter results covering the three-month period to the end of June. Revenue rose 22% to Rs17.06bn despite a 2% fall in volumes. The company booked higher revenues across its three divisions, although volumes from its edible oils and food and FMCG units fell. 'The company witnessed a temporary volume decline, primarily influenced by the consolidation of its regional rice operations and muted consumer demand. Encouragingly, the core categories delivered healthy volume growth and revenue rose 21% year on year, driven by higher edible oil realisations,' MD and CEO Angshu Mallick said. Profit after tax fell 24% to Rs238m. Last month, Wilmar agreed to acquire UK consumer goods company PZ Cussons' 50% equity stake in their Nigerian edible-oils joint venture for a cash consideration of $70m. "Wilmar to become AWL Agri majority shareholder" was originally created and published by Just Food, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.

Rabid RFK Jr. Bites Foreign Dignitary
Rabid RFK Jr. Bites Foreign Dignitary

The Onion

time3 hours ago

  • The Onion

Rabid RFK Jr. Bites Foreign Dignitary

WASHINGTON—In what may be their first apology issued for the behavior of a Cabinet member, White House officials reportedly apologized to a foreign dignitary Tuesday after the man was bitten by a rabid Robert F. Kennedy Jr. 'Sorry, sorry, that's just our health secretary—I don't know what's gotten into him!' senior aide Tasha Sturbridge said as Kennedy snarled and sank his teeth deep into the leg of Japanese envoy Haruto Tanaka, with eyewitnesses reporting a mixture of blood and frothed saliva ringing the secretary's mouth as his eyes rolled back in his head. 'Bobby, let go. Let go! Someone throw him some of his favorite zebra meat so he'll go for that instead. Mr. Tanaka, my apologies, but you should probably get that looked at. The secretary definitely isn't up to date on his shots.' At press time, reports con- firmed rabies cases were sky- rocketing in the D.C. area after Kennedy bolted out an open door of the White House.

DBS conferred three global awards, including the most prestigious 'World's Best Bank' accolade, by Euromoney
DBS conferred three global awards, including the most prestigious 'World's Best Bank' accolade, by Euromoney

Yahoo

time4 hours ago

  • Yahoo

DBS conferred three global awards, including the most prestigious 'World's Best Bank' accolade, by Euromoney

Also recognised as 'World's Best Bank for Customer Experience' and 'World's Best Bank for Corporate Responsibility' SINGAPORE, July 18, 2025 /PRNewswire/ -- DBS scored a hat-trick win at the Euromoney Awards for Excellence 2025. This included receiving the "World's Best Bank" accolade, marking the third time that the bank has clinched Euromoney's top accolade since 2019. The recognition is a testament to DBS' solid financial performance, unwavering commitment to customer excellence, relentless focus on innovation and strong sense of purpose. DBS was also named the inaugural winner in the "World's Best Bank for Customer Experience" category and "World's Best Bank for Corporate Responsibility" for the second time. "At a time of economic uncertainty and rapid technological change, DBS stands out for its future-forward approach, focus on trust and reliability, and proven ability to realise value from technology investments," said Dominic O'Neill, Head of Banking, Euromoney, in its award citation. "The bank's agile-at-scale transformation has shown fruits in revenues and customer satisfaction, and low staff turnover rates are a result of investing in its employees throughout their careers, and of an underlying sense of purpose, including to social and environment causes. DBS has also demonstrated how banks can steer their organisations towards excellence in customer service. All this has had an impact on its financial results and shareholder returns, which have both reached record levels." In 2024, DBS' total income of SGD 22.3 billion and net profit of SGD 11.4 billion were both at new highs. Return on equity of 18.0% was one of the highest among developed market banks. The bank was also the first Singapore-listed company to cross USD 100 billion in market capitalisation. On the customer front, DBS has continued to innovate to make banking simpler, more effortless and highly personalised. In 2024, this included engaging more than 13 million customers across the region through 1.2 billion AI-powered personalised nudges to guide them towards better investment and financial decisions. Last year, the bank more than doubled economic outcomes from AI to SGD 750 million through over 370 use cases. It also continued to mature the way it manages through journeys, improving customer satisfaction, turnaround times and other customer outcomes in the process. DBS' commitment to corporate responsibility cuts across the environmental, social and governance pillars. To help drive Asia's transition to a low-carbon economy, DBS has committed SGD 89 billion in sustainable financing commitments net of repayments. It has also pledged up to SGD 1 billion and over 1.5 million volunteer hours in the coming decade, starting 2024, to improve lives and livelihoods of the low-income and underprivileged in Asia. Tan Su Shan, DBS CEO, said: "We are very honoured to be conferred three global awards, including the 'World's Best Bank' accolade, by Euromoney. Innovation and purpose are integral to the DBS culture, driven by our desire to make banking simpler and more effortless for customers, as well as to do real things for real people. To be recognised for our commitment to customers and society, who are at the heart of everything we do at DBS, is very gratifying. We will continue to be that trusted, purpose-driven and transformative partner that everyone can count on." DBS received its first global Best Bank title in 2018, when New York-based Global Finance named it the Best Bank in the World. That same year, The Banker, a publication by the Financial Times, awarded DBS the title of Global Bank of the Year. In the years that followed, DBS continued to earn top honours, with Euromoney and Global Finance conferring their highest accolades in 2019 (Euromoney), 2020 (Global Finance), and 2021 (Euromoney). This latest World's Best Bank win marks the eighth time DBS has been recognised for its global leadership. About DBSDBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world. Recognised for its global leadership, DBS has been named "World's Best Bank" by Global Finance, "World's Best Bank" by Euromoney and "Global Bank of the Year" by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named "World's Best Digital Bank" by Euromoney and the world's "Most Innovative in Digital Banking" by The Banker. In addition, DBS has been accorded the "Safest Bank in Asia" award by Global Finance for 16 consecutive years from 2009 to 2024. DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region's most dynamic markets. DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience. With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit View original content to download multimedia: SOURCE DBS BANK LTD

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store