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Focus Malaysia
07-07-2025
- Business
- Focus Malaysia
Perhaps time to ban, erase 'potential investments' from vocab of PMX, M'sian ministers, trade agencies
'POTENTIAL investment' has become a despicable economic term overnight in Malaysia after Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Aziz incurred the wrath of Malaysians for claiming RM4 bil in 'potential investments' are coming Malaysia's way from France. This comes a day after Prime Minister Datuk Seri Anwar Ibrahim literally got grilled 'left, right and centre' after being accused of trying to deceive man-on-the-street Malaysians by unveiling RM8.13 bil in 'potential investments' from Italy as fruits from his week-long three- nation tour. Certainly, the PKR-bound technocrat Tengku Zafrul should have better anticipated the backlash before volunteering to be the Madani spokesman for 'potential investments' is now perceived as belittling the intellect of Malaysians after it has become synonymous with PMX's overseas trips. Bluntly put it, wised up Malaysian who are today very much internet-savvy are increasingly perceiving 'potential investments' as a self-glorifying gimmick for the ultimate outcome could be extremely far-fetched from 'approved, actual or realised' investments. 'Only if my boss allowed me to use the same term 'potential' in monthly sales meeting' is one hell of a reaction that encapsulates ground sentiment as every action of PMX and his Madani government goes under the microscope of Malaysians. The above thought emerged the most liked comment in The Star's Facebook post of Tengku Zafrul who claimed that several French companies have expressed their intention to invest a cumulative value of RM4 bil in sectors such as high-tech manufacturing, aerospace, renewable energy, tourism and hospitality, digital economy and sustainable infrastructure. 'As for potential exports, RM675 mil was generated for high-impact sectors such as aerospace, automotive, renewable energy, pharmaceuticals, digital economy, lifestyle and the halal industry,' the former UMNO supreme council member had said in a statement yesterday (July 6). To paint the degree of frustration/betrayal at the Madani government for dishing out a slew of new taxes that only aggravate the cost of living of B40 and M40 Malaysians, another commenter cited the famous quote of US first president Abraham Lincoln: 'You cannot fool all the people all the time'. Few commenters harped on the disparity between outflow and inflow of investments given French President Emmanuel Macron had on Friday (July 4) revealed a historic deal between Airbus and Malaysia as he hosted PMX in Paris. This was followed by a Bloomberg report that AirAsia and Malaysia Airlines sealed Airbus SE deals worth US$20 bil (RM84.45 bil) as PMX wrapped up his European tour to head to Rio de Janeiro to attend the 17th BRICS Leaders' Summit. AirAsia reached a tentative agreement to purchase as many as 70 extended-range Airbus single-aisle jets that could reach US$12.3 bil. Meanwhile, Malaysia Airlines Bhd ordered 20 more A330neo wide-body planes in a deal worth US$7.5 bil, according to Bloomberg calculations before industry discounts are applied. – July 7, 2025
Focus Malaysia
06-07-2025
- Business
- Focus Malaysia
PMX gets all-round grilling after his RM8.13b 'potential investments' from Italy unveiling
ONCE bitten twice (or many times) shy. Man-on-the-street Malaysians are certainly getting bolder by the day for they already know how to distinguish between potential or pledged investment from actual, realised or approved investment. Such rudimentary economic knowledge is essential given every time Prime Minister Datuk Seri Anwar Ibrahim embarks on an official visit abroad, the 'billion-ringgit sign' is bound to flash as fruits from his overseas exploits. But as the degree of trust deficit widens in tandem with expansion in the Sales and Service Tax (SST) scope effective July 1, it seems that Malaysians at large who have grown accustomed to the 'potential investment' phrase have begun to equate it as nothing more than a 'promotional gimmick'. As spill-over effect from the SST and electricity tariff review will prompt traders to raise prices, thus burning a bigger hole in their pockets (coupled with concerns over the RON95 subsidy pullback soon), it seems that every action of the Madani government has come under scrutiny. This is evident with a ' self-praise' post on the PKR Facebook page of PMX unveiling that 'Malaysia is successful of netting RM8.13 bil in potential investment in Italy' which has since garnered 15K likes, 8.3K comments and 381 shares at the time of writing. 'What has been the outcome from potential investments unveiled during previous trips? Have they been realised? Hope there is news coverage on this … Or is the so-called 'potential'(investment) merely a DREAM,' wondered a commenter whose comment top the list with 1.3K likes. Others snubbed PMX for either deceiving either Malaysians with his 'billion' trademark every time he steps out of the country or 'only bring home rude surprises (ie in the form of new taxes)'. This is when a commenter advised PMX 'not to disclose (the figures) when still in 'potential' stage' but only to do so once he can confirm that the investments he brought home had been realised or approved. This led to Madani government chieftain been hailed as 'Bapa Potensi' (on top of few other earlier unceremonious titles such as Cukaiman and father of national taxation) with some commenters bluntly ticking him off 'for glaringly bluffing the masses'. Opposition has a field day Adding fuel to fire is the opposition faction with twice former premier and PMX's former mentor-turned-nemesis Tun Dr Mahathir Mohamad leading the chorus with his sarcasm, 'Bapa FDI is at it again'. 'Already RM680 bil (BILLION) has come (in). You cannot see it because the factories are invisible,' teased the centenarian who is now the Perikatan Nasional (PN) adviser in a post on X. BAPA FDI 1. Hooray. 2. Now Italy 'is set to invest RM8.13 billion in Malaysia'. Great! 3. Wait for France and Brazil? More billions. 4. 'Bapa FDI' is at it again. 5. Already RM680 bil. (BILLION) has come. 6. You cannot see it because the factories are… — Dr Mahathir Mohamad (@chedetofficial) July 4, 2025 'In the meantime, (the) Mahakaya have to pay tax. Not the Mahamiskin (yet) somehow indirectly the miskin suffers. We want more visit to foreign countries so that more invisible FDI will come.' Former Barisan Nasional (BN) strategic communication deputy director Datuk Eric See-To applauded PMX's latest economic gallantry by listing down a slew of previously reported 'potential investments' (from various overseas trips since PMX assumed premiership on Nov 24, 2022). Referring to The Star report, pro-opposition cybertrooper jediMASTER (@jedimaster909) enlightened that what claimed to be 'potential investment' is 'Malaysia paying out to Italy' for the purchase of: 28 Leonardo AW149 helicopters Multi Role Support Ships (MRSS) Littoral Mission Ships (LMS) Two maritime patrol aircrafts So Anwar & PH claiming RM8 billions deals signed in Italy! Msia to purchase: – 28 Leonardo AW149 Helicopters – Multi Role Support Ships (MRSS) – Littoral Mission Ships (LMS) – 2 Maritime Patrol Aircraft's 🤦♀️🤦♂️ This is Msia Paying Out to Italy! — jediMASTER (@jedimaster909) July 4, 2025 Central PAS Information Committee Research and Policy Department director Nurul Islam Mohamed Yusoff wondered if the magical RM8.13 bil was 'recycled from an old investment report' of a joint venture between PETRONAS and Eni S.P.A in Pengerang, Johor in the sustainable aviation fuel sector. 'If you research, you will find news about the collaboration which was announced on July 26, 2024 whereby. PETRONAS, Eni S.P.A and Euglena Co Ltd reached an investment agreement to build a bio-refinery in Pengerang,' revealed the PAS activist in a Facebook post. 'This story has long settled but because we want to paint a beautiful picture from PMX's latest trip, the best resort is to recycle an old story'. – July 6, 2025
New Straits Times
05-07-2025
- Business
- New Straits Times
The 'Italian challenge' facing Malaysia
Prime Minister Datuk Seri Anwar Ibrahim's official visit to Italy is emblematic of Malaysia's growing ambition on the global stage — not just as a middle power, but as the chair of Asean. While the RM8.13 billion in potential Italian investments in the petrochemicals, electronics and oil and gas sectors made headlines, the more significant development lies in Italy's evolving role — not merely as a development partner, but as Asean's strategic development partner. This elevation is not symbolic. It reflects Italy's deeper integration into the region's diplomatic, economic and security architecture. It also enhances Asean's multilateral toolkit at a time when the Indo-Pacific faces mounting geopolitical, environmental and technological disruptions. For Malaysia, it signals a deft balancing act between economic diversification and defence readiness — particularly in the maritime domain. The Royal Malaysian Navy has been undergoing a structural rethink. Force Structure 2040 seeks to modernise the fleet, improve operational readiness and assert maritime sovereignty — especially in contested waters. In this context, Italy has emerged as a strategic partner, offering advanced naval technology and bilateral defence cooperation. Its contribution goes beyond defence procurement. It enhances Malaysia's maritime surveillance and disaster response capacity — capabilities that are vital for both national security and Asean's regional humanitarian and emergency response systems. As Asean chair, Malaysia is responsible for convening key dialogues on regional security — including within the Asean Regional Forum and East Asia Summit. Italy's inclusion in these conversations, particularly around disaster preparedness, maritime law and freedom of navigation, aligns with Asean's evolving security agenda Italy brings Nato-standard training, interoperability know-how and a rules-based approach to maritime operations. These are not peripheral contributions — they are foundational to helping Asean respond to emerging maritime risks in crowded and contested waters. Malaysia's original naval transformation strategy — the 15-to-5 Programme — sought to streamline the navy's assets from fifteen classes of ships to five. The logic was sound: reduce operational redundancies, improve interoperability and lower long-term maintenance costs. Yet that clarity of vision now faces pressure from a growing pool of capable international suppliers. Italy, Turkiye, France and South Korea all offer sophisticated maritime platforms — but with differing combat systems, training protocols and communication architectures. The unintended result is strategic fragmentation. For example, a littoral mission ship requires a core crew size of around 61. But differences in platform design and system integration mean each vessel demands distinct technical training and support infrastructure. This creates operational silos — a serious liability in times of crisis or joint operations. This is where Malaysia's defence planners must exercise strategic discipline. Procurement should be guided not by availability alone, but by doctrinal coherence and fleet-wide interoperability. Malaysia's Asean chairmanship presents an opportunity to link domestic reforms — including naval modernisation — with region-wide initiatives on regional maritime security. This is the challenge and opportunity before Malaysia: to use Italy's partnership as a test case for how a middle power can diversify defence cooperation without sacrificing the cohesion of command. Italy's rising role in Asean reflects a broader global shift. Southeast Asia, once seen as a passive recipient of great power overtures, is now shaping its partnerships with clarity and intention. Malaysia has reinforced this trend — choosing to engage with not just those who offer capital and platforms, but also those who align with Asean's strategic priorities. But the true test lies ahead: can Malaysia align Italy's contributions with a cohesive national and regional maritime strategy? Can Asean build a multilateral security system where partners from Europe bring more than symbolism? Naval strength lies not only in the quality of ships, but also in their coordination — in their ability to sail in formation, united by a shared sense of strategic purpose.
The Star
03-07-2025
- Business
- The Star
Malaysia succeeds in attracting RM8.13bil potential investments from Italy
Prime Minister Datuk Seri Anwar Ibrahim. ROME: Potential investments worth RM8.13 billion have been achieved through the Malaysia-Italy economic cooperation roundtable meeting and meetings with companies here, said Prime Minister Datuk Seri Anwar Ibrahim. The roundtable meeting involved the participation of 41 Italian companies and agencies, comprising 23 companies from the manufacturing sector, nine companies from the service sector, two companies from the trade sector as well as five government agencies and two industrial organisations. "The potential investments achieved through these two meetings are worth RM8.13 billion in the petrochemical, machinery and equipment, electrical and electronics, and oil and gas services and equipment sectors,' he said at a press conference at the end of his visit to Rome, Italy. Anwar, who is also the Finance Minister, said the potential exports generated were worth RM425 million for oleochemical products, renewable energy, biofuel feedstocks, animal feed additives and food. The roundtable meeting allowed potential companies in Italy an opportunity to express their desire to collaborate with Malaysian companies in various sectors such as high-tech manufacturing, renewable energy, digital economy and sustainable infrastructure. Meanwhile, Anwar said that in a bilateral meeting with his counterpart Giorgia Meloni, Rome and Putrajaya would increase cooperation in the energy, solar, geothermal and hydrogen sectors. Among the collaborations are the Petronas and Eni SpA joint venture in Pengerang, Johor in the sustainable aviation fuel (SAF) sector; Perodua and Magna Styer for electric vehicle batteries; and collaboration and investment in the modernisation of the electricity grid, including the ASEAN Power Grid (APG). In the discussion, the Prime Minister said he also applied for recognition of the Malaysian Sustainable Palm Oil (MSPO) certification from Italy, in addition to requesting support for a fairer assessment of the European Union Deforestation-Free Products Regulation (EUDR) Implementation. Malaysia aims to be in the low-risk category in the EUDR benchmark system when the rating is reviewed by 2026. Meanwhile, Malaysia has also sought Italy's support in concluding negotiations on the Malaysia-European Union Free Trade Agreement (FTA). The Prime Minister arrived here on Tuesday for a three-day working visit to Italy, the third largest economy in the EU. The visit was at the invitation of Meloni. Throughout the visit, Anwar was accompanied by Foreign Minister Datuk Seri Mohamad Hasan, Transport Minister Anthony Loke, Agriculture and Food Security Minister Datuk Seri Mohamad Sabu, Defence Minister Datuk Seri Mohamed Khaled Nordin and Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. Also joining the delegation was Deputy Energy Transition and Water Transformation Minister Akmal Nasrullah Mohd Nasir. In 2024, total trade between Malaysia and Italy recorded an increase of two per cent to US$3.18 billion (RM14.61 billion) compared to the same period in 2023. For the period from January to May 2025, total trade between the two countries continued to show positive performance with an increase of 3.3 per cent to US$1.48 billion (RM6.5 billion) compared to the same period in 2024. The Prime Minister departed for France for an official visit on July 3 and 4 after concluding his visit to Italy. - Bernama
The Sun
03-07-2025
- Business
- The Sun
Malaysia succeeds in attracting RM8.13b potential investments from Italy
ROME: Potential investments worth RM8.13 billion have been achieved through the Malaysia-Italy economic cooperation roundtable meeting and meetings with companies here, said Prime Minister Datuk Seri Anwar Ibrahim. The roundtable meeting involved the participation of 41 Italian companies and agencies, comprising 23 companies from the manufacturing sector, nine companies from the service sector, two companies from the trade sector as well as five government agencies and two industrial organisations. 'The potential investments achieved through these two meetings are worth RM8.13 billion in the petrochemical, machinery and equipment, electrical and electronics, and oil and gas services and equipment sectors,' he said at a press conference at the end of his visit to Rome, Italy. Anwar, who is also the Finance Minister, said the potential exports generated were worth RM425 million for oleochemical products, renewable energy, biofuel feedstocks, animal feed additives and food. The roundtable meeting allowed potential companies in Italy an opportunity to express their desire to collaborate with Malaysian companies in various sectors such as high-tech manufacturing, renewable energy, digital economy and sustainable infrastructure. Meanwhile, Anwar said that in a bilateral meeting with his counterpart Giorgia Meloni, Rome and Putrajaya would increase cooperation in the energy, solar, geothermal and hydrogen sectors. Among the collaborations are the Petronas and Eni SpA joint venture in Pengerang, Johor in the sustainable aviation fuel (SAF) sector; Perodua and Magna Styer for electric vehicle batteries; and collaboration and investment in the modernisation of the electricity grid, including the ASEAN Power Grid (APG). In the discussion, the Prime Minister said he also applied for recognition of the Malaysian Sustainable Palm Oil (MSPO) certification from Italy, in addition to requesting support for a fairer assessment of the European Union Deforestation-Free Products Regulation (EUDR) Implementation. Malaysia aims to be in the low-risk category in the EUDR benchmark system when the rating is reviewed by 2026. Meanwhile, Malaysia has also sought Italy's support in concluding negotiations on the Malaysia-European Union Free Trade Agreement (FTA). The Prime Minister arrived here on Tuesday for a three-day working visit to Italy, the third largest economy in the EU. The visit was at the invitation of Meloni. Throughout the visit, Anwar was accompanied by Foreign Minister Datuk Seri Mohamad Hasan, Transport Minister Anthony Loke, Agriculture and Food Security Minister Datuk Seri Mohamad Sabu, Defence Minister Datuk Seri Mohamed Khaled Nordin and Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. Also joining the delegation was Deputy Energy Transition and Water Transformation Minister Akmal Nasrullah Mohd Nasir. In 2024, total trade between Malaysia and Italy recorded an increase of two per cent to US$3.18 billion (RM14.61 billion) compared to the same period in 2023. For the period from January to May 2025, total trade between the two countries continued to show positive performance with an increase of 3.3 per cent to US$1.48 billion (RM6.5 billion) compared to the same period in 2024. The Prime Minister departed for France for an official visit on July 3 and 4 after concluding his visit to Italy.
