Latest news with #ECERDC
The Star
01-07-2025
- Business
- The Star
‘Factual criticism on tax welcome'
PUTRAJAYA: In the name of transparency, the government is ready to accept criticisms of the taxation system, but concerns must be based on facts, says the Prime Minister. Datuk Seri Anwar Ibrahim said criticisms should be conveyed through the proper channels and not by slander or verbal abuse. 'I noticed some university students complaining about the electricity bill adjustment. 'Electricity rates have not gone up, so is it true they are affected? 'If it is indeed true, then we need to fix it because public universities are exempted,' he said at the Prime Minister's Department's monthly assembly, Bernama reported. 'Such matters, when spread in the name of freedom, can become avenues for slander and verbal abuse. 'Please provide facts. I have no issue with people complaining or offering criticism,' he said. The Prime Minister explained that the adjustment of electricity tariffs and the expansion of the Sales and Service Tax (SST) are to ensure that those with higher financial means contribute a fairer share, while protecting segments of the population from undue financial pressure. 'If possible, we would rather not burden the people with taxes. 'But if there are one or two cases where people are affected, we can make improvements. 'However, to outright oppose the electricity (tariff) adjustment, I think that's not right,' he said. On June 9, the government announced a targeted review of the Sales Tax rate and the expansion of the Service Tax scope, which will take effect today. The Energy Commission had announced that more than 23.6 million domestic users in Peninsular Malaysia will benefit from a fairer and more progressive electricity tariff structure that will be in effect from today to Dec 31, 2027. Meanwhile, the Prime Minister said the East Coast Economic Region Development Council (ECERDC) has successfully recorded RM6.4bil in realised investments in the first six months of this year. The ECERDC has also successfully created more than 2,800 jobs to date, he added. 'The amount of committed investments has reached RM10.4bil, surpassing the RM10bil target set for 2025,' he said in a post on his official Facebook page. Earlier, Anwar attended a meeting with the ECERDC to review the latest progress on key performance indicators for the economic corridor, and to discuss the development framework for the East Coast Economic Region (ECER). 'I emphasised the importance of prioritising the country's long-term interests in attracting investors, including ensuring technology and skills transfer elements in every approved investment. 'The ECERDC needs to maintain this momentum through an efficient and proactive facilitation process which will strengthen the region as a competitive investment destination both nationally and internationally,' he added. Meanwhile, the ECERDC said the manufacturing sector accounted for 59% of the RM6.4bil realised investments, with Pahang leading the list with RM4bil, followed by Terengganu (RM1.3bil) and Kelantan (RM1.1bil). Johor reported investments amounting to RM13.3mil in the agriculture sector, specifically from the establishment of a biocompost facility in Mersing.
Malaysian Reserve
30-06-2025
- Business
- Malaysian Reserve
PM Anwar: ECERDC records RM6.4b realised investments in 1H2025
KUALA LUMPUR — The East Coast Economic Region Development Council (ECERDC) has successfully recorded RM6.4 billion in realised investments in the first six months of this year, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar, who is also the Finance Minister, said the ECERDC has also successfully created more than 2,800 jobs to date. 'At the same time, the amount of committed investments has reached RM10.4 billion, surpassing the RM10 billion target set for 2025,' he said in a post on his official Facebook page today. Earlier on, Anwar attended a meeting with the ECERDC to review the latest progress on key performance indicators for the economic corridor, and to discuss the development framework for East Coast Economic Region (ECER) under the upcoming 13th Malaysia Plan, which is currently being formulated by the government. The Prime Minister said the government's strategic plans, especially through the ECER Development Plan, among others, will see eight strategic and high-impact projects scheduled for completion this year. 'I emphasised the importance of prioritising the country's long-term interests in attracting investors, including the importance of ensuring a percentage of technology and skills transfer elements in every approved investment. 'The ECERDC needs to maintain this momentum through an efficient and proactive facilitation process which will strengthen the East Coast Region as a competitive investment destination both nationally and internationally,' he added. In a separate statement, the ECERDC said the manufacturing sector accounted for 59 per cent of the RM6.4 billion realised investments. The council said Pahang led the list with realised investments totalling RM4 billion, followed by Terengganu (RM1.3 billion) and Kelantan (RM1.1 billion), while Johor saw RM13.3 million of investments in agriculture from the development of a biocompost facility in Mersing. 'Key realised investments also include a RM1 billion integrated oil refinery plant, a RM950 million tourism development, and a RM667 million facility to produce Maleic Anhydride in Pahang. 'In Kelantan, a RM1 billion 84-megawatt mini hydroelectric plant is being developed, while Terengganu secured a RM638 million investment for the processing of pulverised quartz,' it added. — BERNAMA
New Straits Times
30-06-2025
- Business
- New Straits Times
ECERDC hits RM6.4bil investments in first half of 2025
KUALA LUMPUR: The East Coast Economic Region Development Council (ECERDC) has achieved RM6.4 billion in realised investments in the first six months of 2025. In a statement, ECERDC said these realised investments are part of a broader pipeline of RM10.4 billion in committed investments, enabling ECERDC to exceed its annual investment target of RM10 billion for 2025. According to the council, the strong performance is expected to create 2,844 job opportunities across the region. It said the manufacturing sector is the main contributor, accounting for 59 per cent of total investments. Pahang led with realised investments worth RM4 billion, followed by Terengganu with RM1.3 billion and Kelantan with RM1.1 billion, while Johor saw investments in agriculture amounting to RM13.3 million from the development of a biocompost facility in Mersing. Key realised investments in the first six months of 2025 include a RM1 billion integrated oil refinery plant, a RM950 million tourism development, and a RM667 million facility to produce maleic anhydride in Pahang. In Kelantan, an RM1 billion 84-megawatt mini hydroelectric plant is being developed, while Terengganu secured an RM638 million investment for the processing of pulverised quartz. Prime Minister Datuk Seri Anwar Ibrahim said ECERDC continues to play a vital role in accelerating inclusive growth across the east coast region. "The investments secured signal that ECER remains a high-potential growth corridor for Malaysia. "These efforts are aligned with our national commitment to balanced regional development, ensuring that all Malaysians benefit from economic progress," he said after chairing the first ECER Council Meeting for 2025 in Putrajaya today. In tandem with its investment success, ECERDC said it is completing eight strategic and impactful projects in 2025, in line with the strategic thrusts outlined under the ECER Development Plan. Under the development plan, to enhance food security, ECERDC said it has completed the Goat Milk Collection Centres in Ketereh and Pasir Puteh, Kelantan (April 2025) and is undertaking the final stages of the Jemaluang Dairy Valley in Johor to strengthen the region's agro-based value chains. Supporting the development of new tourism destinations, the council said several projects are on track for delivery, including the Cherating Turtle Information and Conservation Centre in Pahang (April 2025), the Kuala Terengganu City Centre (KTCC) Promenade Phase 1, the Pulau Pemanggil Jetty in Mersing, and upgrading works on the access road to Johor's Endau Rompin National Park from Kahang to Sungai Emas. This includes the construction of the Palekbang–Kota Bharu Bridge, a catalytic project aimed at improving cross-river connectivity and unlocking economic opportunities in Kelantan, which began earlier this year and is progressing well. Under the high-value manufacturing and hard-to-abate thrust, ECERDC said it is strengthening the industrial ecosystem through the expansion of Kerteh Biopolymer Park (KBP) in Terengganu, supporting industries such as biopolymer, petrochemical, and advanced materials. It said the Phase 4A Package 1 was completed in 2024, while the SME Complex Phase 1B is nearing completion by mid-2025, and Phase 4A Package 2 is currently underway. ECERDC said the project is expected to attract RM4.4 billion in investments by 2029. In enhancing regional connectivity, the Kuala Terengganu Airport Road (Package 2) is under development to improve access and support the region's tourism and logistics ecosystems. ECERDC chief executive officer Datuk Baidzawi Che Mat said these strategic developments are laying the foundation for sustainable economic growth across ECER. "By strengthening key industrial ecosystems, improving accessibility, and supporting community-focused initiatives, we are enhancing the region's appeal to investors while delivering meaningful improvements to local communities," it added.
Malay Mail
30-06-2025
- Business
- Malay Mail
Anwar: East Coast Economic Region Development Council records RM6.4b realised investments in 1H2025
KUALA LUMPUR, June 30 — The East Coast Economic Region Development Council (ECERDC) has successfully recorded RM6.4 billion in realised investments in the first six months of this year, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar, who is also the Finance Minister, said the ECERDC has also successfully created more than 2,800 jobs to date. 'At the same time, the amount of committed investments has reached RM10.4 billion, surpassing the RM10 billion target set for 2025,' he said in a post on his official Facebook page today. Earlier on, Anwar attended a meeting with the ECERDC to review the latest progress on key performance indicators for the economic corridor, and to discuss the development framework for East Coast Economic Region (ECER) under the upcoming 13th Malaysia Plan, which is currently being formulated by the government. The Prime Minister said the government's strategic plans, especially through the ECER Development Plan, among others, will see eight strategic and high-impact projects scheduled for completion this year. 'I emphasised the importance of prioritising the country's long-term interests in attracting investors, including the importance of ensuring a percentage of technology and skills transfer elements in every approved investment. 'The ECERDC needs to maintain this momentum through an efficient and proactive facilitation process which will strengthen the East Coast Region as a competitive investment destination both nationally and internationally,' he added. — Bernama
Barnama
30-06-2025
- Business
- Barnama
ECERDC Records RM6.4 Bln Realised Investments In 1H2025
KUALA LUMPUR, June 30 (Bernama) -- The East Coast Economic Region Development Council (ECERDC) has successfully recorded RM6.4 billion in realised investments in the first six months of this year, said Prime Minister Datuk Seri Anwar Ibrahim. Anwar, who is also the Finance Minister, said the ECERDC has also successfully created more than 2,800 jobs to date. 'At the same time, the amount of committed investments has reached RM10.4 billion, surpassing the RM10 billion target set for 2025,' he said in a post on his official Facebook page today.
