Latest news with #TengkuZafrulAziz
Focus Malaysia
3 days ago
- 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
Free Malaysia Today
4 days ago
- Business
- Free Malaysia Today
French visit to yield RM4bil in potential investments, says Miti
Investment, trade and industry minister Tengku Zafrul Aziz said the mission's overall success reflects the foreign companies' continued confidence in Malaysia's investor-friendly policies. (Bernama pic) KUALA LUMPUR : Malaysia is expected to reap RM4 billion in potential investments and RM675 million in potential exports following the trade and investment mission to France led by Prime Minister Anwar Ibrahim on July 4. In a statement today, the investment, trade and industry ministry said Anwar met 40 representatives from France's industrial sector, with several companies expressing intention to invest in high-tech manufacturing, aerospace, renewable energy, tourism and hospitality, digital economy and sustainable infrastructure. 'As for potential exports, RM675 million was generated for high-impact sectors such as aerospace, automotive, renewable energy, pharmaceuticals, digital economy, lifestyle and halal industries. 'These are sectors targeted under the New Industrial Master Plan 2030 (NIMP 2030) and the Green Investment Strategy,' it said. Miti said several companies also shared their intention to continue investing in Malaysia, driven by key factors such as a conducive, stable and dynamic investment ecosystem; encouraging global demand for Malaysian-made products; efficient domestic supply chains; a highly skilled workforce; and investor-friendly government policies. The delegation included the minister, Tengku Zafrul Aziz, and representatives from the Malaysian Investment Development Authority (Mida) and Malaysia External Trade Development Corporation (Matrade). Tengku Zafrul said the mission's overall success reflected the foreign companies' continued confidence in Malaysia's investor-friendly policies, supply chain ecosystem, competitiveness and economic growth potential. 'The investment and trade potential to be realised will also provide business opportunities for local companies, including small and medium enterprises, and more high-paying jobs for Malaysians. 'All these are key in driving our economic transformation agenda,' he said.
Free Malaysia Today
03-07-2025
- Automotive
- Free Malaysia Today
Perodua in the frame to make Malaysia's best selling EV
Malaysia's motor industry has been a cornerstone of the nation's industrial ambitions since Volvo and Tan Chong-Datusn started their local assembly plants in the 1960s. National car makers Proton and Perodua came on the scene in the 1980s and 1990s, and a National Automotive Policy came into being in 2006. However, the sudden rise of China's car industry as a global powerhouse has necessitated an overhaul of strategies. The government set up a council of automotive eminent persons with the critical task of charting a viable path forward to recognise world trade disruptions and recent geo-political tensions. The council is expected to present its findings by August, marking a significant moment in Malaysia's industrial evolution, as indicated by Tengku Zafrul Aziz, the investment, trade and industry minister, It must, however, be noted that the council's mission could be strengthened if the finance minister was the co-chair. Otherwise, how could the council reasonably expect its suggestions on incentives and tax policies to be not whittled down by the Treasury? Change of vision The automotive industry in Malaysia began with the vision of transitioning from a commodities economy to a modern, high-value manufacturing economy. Over time, however, this vision has shifted. The sector is increasingly seen as a source of tax revenue, rather than solely a driver of industrial progress, as pointed out by FMT columnist Rosli Khan. This change is particularly evident in the impending implementation of a new excise duty on locally assembled cars based on their open market value. Starting Jan 1, this excise duty will add approximately RM500 to the price of entry-level Perodua models and up to RM30,000 for entry-level premium German cars. Initially postponed in 2020 due to the Covid-19 pandemic, its enactment may possibly reshape the automotive landscape. With locally-assembled premium cars becoming almost as costly as their CBU (completely built-up) counterparts, the premium car marques may abandon local assembly altogether and opt to import built-up cars assembled in Thailand. This potential shift poses significant challenges for the industry, requiring the eminent persons council to address key concerns surrounding competitiveness, tax policy, and industrial sustainability. Investment incentives A second factor enriching the council's deliberations is Malaysia's approach to attracting foreign direct investment in the automotive sector. Last year, menu-driven incentives were introduced, to attract global car companies. While the initiative represents progress over the opaque customised incentives it replaces, industry participants have noted that these incentives are less favourable compared to those already offered to low-volume manufacturers. For Malaysia to remain competitive, the council must explore strategies to refine and optimise these incentives to attract some of the biggest Chinese car companies which are not already heavily invested in Thailand and Indonesia. Despite these challenges, optimism remains. The global automotive industry can be reasonably expected to remain powered by three complementary drivelines — internal combustion engines, battery electric vehicles, and hybrids, including plug-in hybrids and range-extenders — well into 2050. This provides Malaysia with a few options in terms of being a regional hub in the automotive supply chain. Electronics and rare earths One strategic opportunity lies in the conversion of ADAS software from left-hand drive to right-hand drive vehicles. According to Chinese industry sources, this process is significantly more complex than simply shifting the steering wheel and controls. By incentivising Malaysia's electrical and electronics industry to expand further into automotive electronics, the country could become a hub for specialised research and development as well as automotive chips. Additionally, Malaysia's rare earth resources offer a promising avenue for growth. By consolidating these resources and promoting the manufacturing of super magnets and electric motors, Malaysia can position itself as an integral player in the global electric vehicle supply chain. Sustaining the energy transition Finally, to ensure Malaysia fulfils its commitments under the Paris agreement on climate change, the government should consider implementing an end-of-life vehicle system or cash-for-clunkers programme. Such initiatives would boost the energy transition by encouraging the replacement of older, less efficient cars with newer, greener alternatives. Since the major Chinese companies BYD, GWM, SAIC-MG are already invested in Thailand as their regional hub, Malaysia's fortunes as a car exporter will probably lie with Perodua, Proton, Chery and possibly Changan. Perodua's role Of these four, I would wager that Perodua offers the best hopes for Malaysia to reduce its severe trade deficit in cars assuming that its Japanese partners permit export sales. When Perodua as a national car maker was tasked by the government to make an EV, its technical partner and shareholder Daihatsu, which had little EV technology, gave permission to Perodua to integrate components and make its own EV. Allowed this latitude, Perodua has put in the R&D to integrate off-the-shelf electric motors, high-voltage battery pack and electrical control systems and launch the EV for sale later this year. And who knows, with the Myvi being Malaysia's best selling car for several years consecutively, Perodua's EV might well be Malaysia's best selling EV, if not Asean's best selling EV. The views expressed are those of the writer and do not necessarily reflect those of FMT.
Daily Express
01-07-2025
- Automotive
- Daily Express
Perodua in the frame to make Malaysia's best selling EV
Published on: Tuesday, July 01, 2025 Published on: Tue, Jul 01, 2025 By: Yamin Vong, FMT Text Size: MALAYSIA's motor industry has been a cornerstone of the nation's industrial ambitions since Volvo and Tan Chong-Datusn started their local assembly plants in the 1960s. National car makers Proton and Perodua came on the scene in the 1980s and 1990s, and a National Automotive Policy came into being in 2006. However, the sudden rise of China's car industry as a global powerhouse has necessitated an overhaul of strategies. The government set up a council of automotive eminent persons with the critical task of charting a viable path forward to recognise world trade disruptions and recent geo-political tensions. The council is expected to present its findings by August, marking a significant moment in Malaysia's industrial evolution, as indicated by Tengku Zafrul Aziz, the investment, trade and industry minister, It must, however, be noted that the council's mission could be strengthened if the finance minister was the co-chair. Otherwise, how could the council reasonably expect its suggestions on incentives and tax policies to be not whittled down by the Treasury? Change of vision The automotive industry in Malaysia began with the vision of transitioning from a commodities economy to a modern, high-value manufacturing economy. Over time, however, this vision has shifted. The sector is increasingly seen as a source of tax revenue, rather than solely a driver of industrial progress, as pointed out by FMT columnist Rosli Khan. This change is particularly evident in the impending implementation of a new excise duty on locally assembled cars based on their open market value. Starting Jan 1, this excise duty will add approximately RM500 to the price of entry-level Perodua models and up to RM30,000 for entry-level premium German cars. Initially postponed in 2020 due to the Covid-19 pandemic, its enactment may possibly reshape the automotive landscape. With locally-assembled premium cars becoming almost as costly as their CBU (completely built-up) counterparts, the premium car marques may abandon local assembly altogether and opt to import built-up cars assembled in Thailand. This potential shift poses significant challenges for the industry, requiring the eminent persons council to address key concerns surrounding competitiveness, tax policy, and industrial sustainability. Investment incentives A second factor enriching the council's deliberations is Malaysia's approach to attracting foreign direct investment in the automotive sector. Last year, menu-driven incentives were introduced, to attract global car companies. While the initiative represents progress over the opaque customised incentives it replaces, industry participants have noted that these incentives are less favourable compared to those already offered to low-volume manufacturers. For Malaysia to remain competitive, the council must explore strategies to refine and optimise these incentives to attract some of the biggest Chinese car companies which are not already heavily invested in Thailand and Indonesia. Despite these challenges, optimism remains. The global automotive industry can be reasonably expected to remain powered by three complementary drivelines — internal combustion engines, battery electric vehicles, and hybrids, including plug-in hybrids and range-extenders — well into 2050. This provides Malaysia with a few options in terms of being a regional hub in the automotive supply chain. Electronics and rare earths One strategic opportunity lies in the conversion of ADAS software from left-hand drive to right-hand drive vehicles. According to Chinese industry sources, this process is significantly more complex than simply shifting the steering wheel and controls. By incentivising Malaysia's electrical and electronics industry to expand further into automotive electronics, the country could become a hub for specialised research and development as well as automotive chips. Additionally, Malaysia's rare earth resources offer a promising avenue for growth. By consolidating these resources and promoting the manufacturing of super magnets and electric motors, Malaysia can position itself as an integral player in the global electric vehicle supply chain. Sustaining the energy transition Finally, to ensure Malaysia fulfils its commitments under the Paris agreement on climate change, the government should consider implementing an end-of-life vehicle system or cash-for-clunkers programme. Such initiatives would boost the energy transition by encouraging the replacement of older, less efficient cars with newer, greener alternatives. Since the major Chinese companies BYD, GWM, SAIC-MG are already invested in Thailand as their regional hub, Malaysia's fortunes as a car exporter will probably lie with Perodua, Proton, Chery and possibly Changan. Perodua's role Of these four, I would wager that Perodua offers the best hopes for Malaysia to reduce its severe trade deficit in cars assuming that its Japanese partners permit export sales. When Perodua as a national car maker was tasked by the government to make an EV, its technical partner and shareholder Daihatsu, which had little EV technology, gave permission to Perodua to integrate components and make its own EV. Allowed this latitude, Perodua has put in the R&D to integrate off-the-shelf electric motors, high-voltage battery pack and electrical control systems and launch the EV for sale later this year. And who knows, with the Myvi being Malaysia's best selling car for several years consecutively, Perodua's EV might well be Malaysia's best selling EV, if not Asean's best selling EV. # The views expressed are those of the writer and do not necessarily reflect those of FMT.
Daily Express
12-06-2025
- Business
- Daily Express
Investors hesitant amid global economic concerns, says Tengku Zafrul
Published on: Thursday, June 12, 2025 Published on: Thu, Jun 12, 2025 By: Minderjeet Kaur, FMT Text Size: Investment, trade and industry minister Tengku Zafrul Aziz said it is becoming increasingly difficult to make projections on investments. (Bernama pic) Kuala Lumpur: Foreign investors are taking a cautious approach towards new investments in Malaysia due to global economic uncertainties, investment, trade and industry minister Tengku Zafrul Aziz said today. He warned that attracting new investors would be challenging in the current climate, noting that while existing investors in Malaysia remained committed, newcomers were showing hesitation. Advertisement 'Those who have committed have not pulled out. But the ones that have not committed are now thinking (whether to invest or not),' he told reporters during the regional launch of the Asean Economic Community Strategic Plan 2026–2030. He also said it was becoming increasingly difficult to make projections on investments. 'When we have discussions with companies, we understand their concerns. Many (investors) are adopting a wait-and-see approach due to the dynamic geopolitical situation, especially between the US and China. 'New companies looking to invest want to assess the global situation first,' Tengku Zafrul added. When asked about Malaysia's RM89 billion in approved investments in the first quarter of the year – up 3.7% from the same period last year – Tengku Zafrul said it was 'pleasantly surprising' given typical first-quarter sluggishness. 'In terms of foreign investment, it is almost 70% of the investment. And at the same time, we see that the biggest sector is services, especially the digital economy,' he added. Tengku Zafrul is expected to travel to Washington on June 18 to continue negotiations over the US tariffs imposed on Malaysian goods. He said the Malaysian government hopes to persuade Washington to reduce import duties for certain sectors to below 10%. 'We also want to ensure that our local companies exporting to the US – especially in sectors such as furniture and downstream palm oil – are taken into account,' Tengku Zafrul said, adding that these sectors 'are not really in competition' with American industries. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
