Latest news with #MBInc
New Straits Times
14-06-2025
- Business
- New Straits Times
Zahid: Ensure fair pay, opportunities for locals in Bagan Datuk fishery hub
BAGAN DATUK: Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi has called for deep-sea resource harvesting licences under the Bagan Datuk International Fishery Industrial Park (BDIFIP) to be awarded to local communities, especially those from Perak. Zahid, who is also the rural and regional development minister, said the Fisheries Department could work with Menteri Besar Incorporated (MB Inc) to identify potential local operators who could be granted licences under the RM2 billion project. The Bagan Datuk MP said that he would work with financial institutions to ensure eligible fishermen receive assistance or loans, thereby ensuring that the benefits of the project are shared fairly between foreign investors and the local community. "This is how we create balance, so that Malaysians, especially those in Perak, are not left with just low-paying jobs of RM1,700, watching others benefit from the project," he said at the BDIFIP pre-launch ceremony here today. He also expressed hope that local workers at BDIFIP would not be paid minimum wages while foreign investors offer significantly higher salaries for similar roles in their home countries. "Do not exploit the hard work of our local youth. "Fair wages must be ensured, especially for those with skills and the Malaysian Skills Certificate (SKM). "I will personally monitor the progress of this industrial zone and ensure all timelines are fully met," he said. At the event, Zahid also witnessed the exchange of an agreement between MB Inc. Perak and Younchang Engineering & Construction (M) Sdn Bhd, as well as the signing of a Memorandum of Agreement (MoA) between Younchang Engineering and MingCheng Group Co Ltd, paving the way for broader international collaboration in the project's investment ecosystem. Earlier, Perak Menteri Besar Datuk Seri Saarani Mohamad said the BDIFIP project, involving investments of more than RM2 billion, will be developed in phases starting in 2027 across a 126.4ha site. The project is expected to elevate Bagan Datuk into an international seafood trading hub.
Barnama
14-06-2025
- Business
- Barnama
Local Fishermen Should Benefit From BDIFIP Project
BAGAN DATUK, June 14 (Bernama) -- Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi has called for deep-sea resource harvesting licences under the Bagan Datuk International Fishery Industrial Park (BDIFIP) to be awarded to local communities, especially those from Perak. Ahmad Zahid, who is also the Minister of Rural and Regional Development, said the Fisheries Department could work with Menteri Besar Incorporated (MB Inc) to identify potential local operators who could be granted licences under the RM2 billion project. The Bagan Datuk MP added that he would work with financial institutions to ensure eligible fishermen receive assistance or loans, thereby ensuring that the benefits of the project are shared fairly between foreign investors and the local community. 'This is how we create balance, so that Malaysians, especially those in Perak, are not left with just low-paying jobs of RM1,700, watching others benefit from the project,' he said at the BDIFIP pre-launch ceremony here today. He also expressed hope that local workers at BDIFIP would not be paid minimum wages while foreign investors offer significantly higher salaries for similar roles in their home countries. 'Do not exploit the hard work of our local youth. Fair wages must be ensured, especially for those with skills and the Malaysian Skills Certificate (SKM). 'I will personally monitor the progress of this industrial zone and ensure all timelines are fully met,' he said. At the event, Ahmad Zahid also witnessed the exchange of an agreement between MB Inc. Perak and Younchang Engineering & Construction (M) Sdn Bhd, as well as the signing of a Memorandum of Agreement (MoA) between Younchang Engineering and MingCheng Group Co Ltd, paving the way for broader international collaboration in the project's investment ecosystem. Earlier, Perak Menteri Besar Datuk Seri Saarani Mohamad said the BDIFIP project, involving investments of more than RM2 billion, will be developed in phases starting in 2027 across a 126.4-hectare site. The project is expected to elevate Bagan Datuk into an international seafood trading hub. -- BERNAMA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial , @bernamatv , @bernamaradio Twitter : @ , @BernamaTV , @bernamaradio Instagram : @bernamaofficial , @bernamatvofficial , @bernamaradioofficial TikTok : @bernamaofficial
Free Malaysia Today
30-05-2025
- Business
- Free Malaysia Today
Kelantan govt seals rare earths pact with Lynas
Lynas Rare Earths CEO and managing director Amanda Lacaze said Malaysia is already recognised as a rare earths centre of excellence through Lynas's operations. (AP pic) PETALING JAYA : The Kelantan government's investment arm has struck an agreement with Australia's Lynas Rare Earths Ltd to develop the state's rare earth resources that are essential for high-tech industries. The Australian mining company said today it has signed a memorandum of understanding with the state's Menteri Besar Inc (MB Inc) that provides a framework to negotiate a deal for the future supply of mixed rare-earths carbonate feedstock to Lynas. Under the non-binding agreement, the parties will cooperate on the growth of the rare earths industry in Kelantan and work towards developing Malaysia's locally sourced and separated rare earth products. 'Malaysia's ionic clay deposits have excellent potential as future feedstock for Lynas Malaysia, particularly given their high proportion of heavy rare earths which are in demand for future facing technologies including electric vehicles and electronics,' Lynas CEO Amanda Lacaze said in a statement. She said this initiative brings together Lynas Malaysia's expertise on the rare earths industry spanning more than a decade and Kelantan's rare earth resources. 'We look forward to working with MB Inc to ensure the (rare earths) it produces meets the high environmental and technical standards required by Lynas and our customers in Malaysia as well as global manufacturing supply chains,' she added. Lynas has been operating a processing plant on the outskirts of Kuantan, Pahang, since 2012. The miner currently sources all of its rare earths from the Mt Weld mine in Western Australia. The Kelantan land and minerals office previously stated that rare earth elements have been found in large quantities in Jeli and Gua Musang. Last December, the department said it deployed drones to monitor remote locations identified as having rare earth elements to prevent illegal mining activities. News reports then indicated police had arrested 55 individuals after uncovering an illegal rare earth mining operation in Gua Musang. Meanwhile, the federal government is encouraging state administrations to allow rare earth mining. Outgoing natural resources and environmental sustainability minister Nik Nazmi Nik Ahmad was reported to have said Malaysia aims to position itself as a regional hub for rare earth mining and processing. 'Lynas's plant in Malaysia is the first plant outside China that can process heavy rare earth elements,' he said during a visit to the Lynas plant earlier this month. He added this achievement increased the nation's competitiveness in the rare earth elements market. Rare earths and geopolitics Geopolitical tension is fuelling interest in finding new sources of rare earths supply. After the US slapped ultra-high reciprocal tariffs on China last month, the Asian giant retaliated by tightening restrictions on the export of rare-earth materials, targeting US manufacturers, including Tesla. With the Trump administration now having a truce with China over its tariffs, exports of rare earths restarted this month for some companies. China remains in the driving seat as it currently refines almost all of the world's heavy rare earth elements, including dysprosium and terbium. Lynas has been seeking to break that stranglehold, and recently began commissioning a new separation circuit that will make it the only commercial producer of separated heavy rare earth products outside of China. Ironically, the opposition-controlled state of Kelantan may turn out to be a starting point in helping the US and its allies break China's virtual monopoly in rare earth elements.
Barnama
30-05-2025
- Business
- Barnama
Lynas, Kelantan Ink MoU For Mixed Rare Earths Carbonate Supply
KUANTAN, May 30 (Bernama) – Lynas Rare Earths Ltd and the Kelantan state government's investment arm, Menteri Besar Incorporated (MB Inc), have signed a memorandum of understanding (MoU) for the supply of mixed rare earths carbonate (MREC). In a statement today, Lynas said the MoU is non-binding and remains subject to the negotiation and finalisation of definitive agreements. It said the memorandum outlines a framework for both parties to strengthen, promote and develop cooperation to advance the Malaysian rare earths industry in Kelantan. 'It also provides a basis for MB Inc and Lynas to negotiate a definitive agreement for the supply of MREC feedstock to the Lynas Malaysia Advanced Materials Plant in Kuantan once the project commences production,' it added. Lynas Rare Earths chief executive officer and managing director Amanda Lacaze said Malaysia is already recognised as a rare earths centre of excellence through Lynas' operations, and the MoU marks a significant step towards developing locally sourced and separated rare earth products. 'Lynas is delighted to sign this MoU with the Kelantan state government's MB Inc. This is a significant step for Lynas and the Malaysian rare earths industry, bringing together Lynas Malaysia's over a decade of rare earths industry expertise and Kelantan state's rare earth resources,' she said. Lacaze noted that Malaysia's ionic clay deposits have strong potential as future feedstock for Lynas Malaysia, particularly due to the high concentration of heavy rare earths, which are in demand for advanced technologies such as electric vehicles and electronics. 'We look forward to working closely with MB Inc to ensure that the MREC produced meets the high environmental and technical standards required by Lynas and our customers across Malaysian and global manufacturing supply chains,' she added. -- BERNAMA
The Star
30-05-2025
- Business
- The Star
Lynas, Kelantan ink MoU for mixed rare earths carbonate supply
KUANTAN: Lynas Rare Earths Ltd and the Kelantan state government's investment arm, Menteri Besar Incorporated (MB Inc), have signed a memorandum of understanding (MoU) for the supply of mixed rare earths carbonate (MREC). In a statement today, Lynas said the MoU is non-binding and remains subject to the negotiation and finalisation of definitive agreements. It said the memorandum outlines a framework for both parties to strengthen, promote and develop cooperation to advance the Malaysian rare earths industry in Kelantan. "It also provides a basis for MB Inc and Lynas to negotiate a definitive agreement for the supply of MREC feedstock to the Lynas Malaysia Advanced Materials Plant in Kuantan once the project commences production,' it added. Lynas Rare Earths chief executive officer and managing director Amanda Lacaze said Malaysia is already recognised as a rare earths centre of excellence through Lynas' operations, and the MoU marks a significant step towards developing locally sourced and separated rare earth products. "Lynas is delighted to sign this MoU with the Kelantan state government's MB Inc. This is a significant step for Lynas and the Malaysian rare earths industry, bringing together Lynas Malaysia's over a decade of rare earths industry expertise and Kelantan state's rare earth resources,' she said. Lacaze noted that Malaysia's ionic clay deposits have strong potential as future feedstock for Lynas Malaysia, particularly due to the high concentration of heavy rare earths, which are in demand for advanced technologies such as electric vehicles and electronics. "We look forward to working closely with MB Inc to ensure that the MREC produced meets the high environmental and technical standards required by Lynas and our customers across Malaysian and global manufacturing supply chains,' she added. - Bernama
