Kedah secures RM4.2 billion investments in first quarter, says Sanusi
ALOR STAR: Kedah recorded RM4.2 billion in investments in the first quarter of this year, creating more than 1,400 job opportunities, said Menteri Besar Datuk Seri Muhammad Sanusi Md Nor.
He said the numbers underscored the state's steady march towards realising its Greater Kedah vision, and showed it was firmly on course to harnessing its full potential and resources for sustainable growth.
"Investor confidence, both domestic and foreign, has kept Kedah among Malaysia's top investment destinations.
"For the manufacturing sector alone, Kedah booked RM3.9 billion in investments, ranking it third highest in the country," he said in his speech during an investiture at Istana Anak Bukit held in conjunction with sultan of Kedah Sultan Sallehuddin Sultan Badlishah's 83rd birthday celebration.
Sanusi expressed confidence that high-value manufacturing would weather global political and economic headwinds, spurred by the expansion of Kulim Hi-Tech Park Phases 4A and 5, the Kulim Industrial Corridor (KIC), as well as emerging industrial clusters, such as Kedah Rubber City (KRC) and the Kedah Science Technology Park (KSTP).
"The willingness of investors to choose Kedah is a manifestation of the stability, transparency and effectiveness of our policies. We are thankful for this trust," he said.
He said the establishment of The Greater Kedah Secretariat, in strategic collaboration with the State Economic Planning Division, also ensured that all strategic plans and initiatives were systematically monitored and aligned with clear key performance indicators.
Sanusi also highlighted the state's accelerating border corridor development, citing the launch of a new logistics hub at the Delapan Special Border Economic Zone (Delapan SBEZ) in Bukit Kayu Hitam.
"This facility alone is expected to divert an additional 240,000 TEUs of container traffic from southern Thailand, contributing up to RM843 million a year to Kedah's gross domestic product," he said.
To further boost cross-border trade, he said, a new road connecting the Bukit Kayu Hitam ICQS to Thailand's Sadao ICQS is expected to be completed by September.
"This strategic link is projected to help raise Malaysia–Thailand two-way trade from RM117 billion in 2023 to RM141 billion by 2027, with Kedah benefiting from the spillover.
"This translates to more job opportunities, increased revenue for the state and sustained fiscal health as demonstrated by our revenue collection in 2024 which surpassed projections," he added.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
2 days ago
- The Sun
Nike to cut China output for US market to ease tariff blow
BENGALURU: Nike said it would cut its reliance on production in China for the US market to mitigate the impact from US tariffs on imports, and forecast a smaller-than-expected drop in first-quarter revenue, sending its shares up 11% in extended trading. US President Donald Trump's sweeping tariffs on imports from key trading partners could add around US$1 billion (RM4.2 billion) to Nike's costs, company executives said on a post-earnings call after the sportswear giant topped estimates for fourth-quarter results. China, subject to the biggest tariff increases imposed by Trump, accounts for about 16% of the shoes Nike imports into the US, chief financial officer Matthew Friend said. But the company aims to cut the figure to a 'high single-digit percentage range' by the end of May 2026 as it reallocates China production to other countries. 'We will optimize our sourcing mix and allocate production differently across countries to mitigate the new cost headwind into the US,' he said on a call with investors. Consumer goods is one of the most affected areas by the tariff dispute between the world's two largest economies, but Nike's executives said they were focused on cutting the financial pain. Nike will 'evaluate' corporate cost reductions to deal with the tariff impact, Friend said. The company has already announced price increases for some products in the US 'The tariff impact is significant. However, I expect others in the sportswear industry will also raise prices, so Nike may not lose much share in the US,' said David Swartz, analyst at Morningstar Research. CEO Elliott Hill's strategy to focus product innovation and marketing around sports is beginning to show some fruit with the running category returning to growth in the fourth quarter after several quarters of weakness. Having lost share in the fast-growing running market, Nike has invested heavily in running shoes such as Pegasus and Vomero, while scaling back production of sneakers such as the Air Force 1. 'Running has performed especially strongly for Nike,' said Citi analyst Monique Pollard, adding that new running shoes and sportswear products are expected to offset the declines in Nike's classic sneaker franchises at wholesale partner stores. Marketing spending was up 15% year-on-year in the quarter. On Thursday, Nike hosted an event in which its sponsored athlete Faith Kipyegon attempted to run a mile in under four minutes. Paced by other star athletes in the glitzy and live-streamed from a Paris stadium, Kipyegon fell short of the goal but set a new unofficial record. – Reuters
Barnama
4 days ago
- Barnama
Malaysia Records FDI Inflow Of RM51.5 Bln In 2024 -- DOSM
Credit: Department of Statistics Malaysia (DOSM) Malaysia Records FDI Inflow Of RM51.5 Bln In 2024 -- DOSM KUALA LUMPUR, June 25 (Bernama) -- Malaysia recorded a net inflow of foreign direct investment (FDI) totalling RM51.5 billion in 2024, up from RM38.6 billion in the preceding year, according to Department of Statistics Malaysia (DOSM). In a statement, the department noted that total income earned by foreign companies in Malaysia rose to RM99.8 billion compared to RM88.4 billion in 2023. This increase was mainly driven by income from equity and investment fund shares which amounted to RM95.9 billion, and interest income of RM3.9 billion. "As of the end of 2024, the country's cumulative FDI position stood at RM995.5 billion, up from RM924.0 billion in previous year," it said. Meanwhile, DOSM said FDI flows in the form of equity and investment fund shares recorded a net inflow of RM28.0 billion, contributing to an accumulated position of RM832.9 billion. Debt instruments registered a net inflow of RM23.5 billion with the position valued at RM162.6 billion. By sectors, it said the services sector contributed the highest FDI inflows at RM39.4 billion, with a total position of RM524.8 billion. This was followed by the manufacturing sector which generated the highest FDI income valued at RM54.6 billion, followed by services sector. In 2024, the largest FDI inflows geographically originated from the Asian region, totalling RM50.3 billion, with Singapore and Hong Kong as the primary sources. Investors from this region also recorded the highest income, amounting to RM46.5 billion. -- BERNAMA
New Straits Times
4 days ago
- New Straits Times
Malaysia must strengthen role as strategic AI, data hub, says HLIB
KUALA LUMPUR: Malaysia must reinforce its position as a neutral, stable, and indispensable hub for data and artificial intelligence (AI) development to remain competitive in the rapidly evolving digital economy, said Hong Leong Investment Bank Bhd (HLIB) chief executive officer Lee Jim Leng. Lee said this goal demands bold, future-ready policies that not only catalyse homegrown AI innovation and uphold data sovereignty, but also accelerate the development of energy-efficient, sustainable data centre infrastructure, critical components of any advanced digital ecosystem. Lee added that deeper collaboration between the government, industry players, and academia will be crucial to ensuring Malaysia builds long-term competitiveness in high-performance digital infrastructure. "Malaysia is entering the era of Data Centre 2.0, a phase where the focus moves beyond basic co-location services to advanced, high-performance computing infrastructure that supports AI workloads, green innovation, and data sovereignty. "With RM6.7 billion in approved investments and another RM3.9 billion currently in advanced hyperscale discussions, Malaysia is no longer a peripheral player in the region. "Malaysia should now be positioning itself as a key digital infrastructure hub," she said at the Bursa Malaysia–HLIB Stratum Focus Series, themed "Data Centre 2.0: The Ecosystem and What's Next for Malaysia?" held here today. Lee noted that the global AI revolution is transforming every industry, and data centres are the backbone of this new digital era. However, she cautioned that this transformation is unfolding amid growing geopolitical tensions, particularly the recent US restrictions on exports of advanced AI chips, which have sent shockwaves through the global technology supply chain. "While Malaysia is not a direct target of these restrictions, we remain a vital node in an interconnected global economy. "Any disruption to the supply of high-performance chips from giants like NVIDIA and AMD will directly affect the cloud providers, hyperscalers, and enterprises that are powering our digital future," she said. Despite these global challenges, Lee believes Malaysia has a real opportunity to solidify its position. She said this shift is backed by data reflecting rising investor confidence and market interest. She pointed out that the Malaysian Investment Development Authority (MIDA) has already approved RM6.7 billion in data centre investments. While that figure is impressive, she said the additional RM3.9 billion currently under advanced discussion signals the massive opportunities still ahead. "This domestic boom is also further validated by our growing presence on the regional stage. "According to global real estate services firm Jones Lang LaSalle (JLL), Malaysia now attracts 38 per cent of all new data centre investments across the Asean region. "Even more notably, JLL projects that our market share could surpass 40 per cent by next year. "This isn't just growth. It marks a consolidation of our role as the destination of choice for digital infrastructure investment. "The momentum is clear, with RM2 billion worth of data centre construction contracts already awarded this year, proving that these multi-billion-ringgit commitments are moving quickly from blueprints to physical infrastructure," she said. Furthermore, Lee said global tech giants such as Google, Microsoft, and AWS are not only investing in Malaysia — they are doubling down, recognising the country's immense potential as a regional data powerhouse. She noted that demand for data centres continues to rise, fuelled by the rapid expansion of AI and cloud computing. Overall, Lee said the transition to Data Centre 2.0 presents both a challenge and an opportunity, but with the right strategies, Malaysia can turn global uncertainty into a national advantage and cement its leadership as Asean's digital infrastructure hub.
