Latest news with #WongSiewHai
The Sun
a day ago
- Business
- The Sun
MSIA: Miti move shows Malaysia's seriousness in complying with international trade obligations
KUALA LUMPUR: The trade permit imposed for US origin high-performance artificial intelligence (AI) chips reaffirms Malaysia's commitment as a trusted hub for managing advanced technology exports, transshipments, and transits. In stating this, Malaysia Semiconductor Industry Association (MSIA) president Datuk Seri Wong Siew Hai said the measure sent a strong signal of Malaysia's seriousness in complying with international trade obligations, including the US export controls. 'The trade permit makes it clear that the government will not tolerate any abuse of exports, transshipment, or illicit trading,' Wong told Bernama when asked to comment on the current measures announced by the Ministry of Investment, Trade and Industry (Miti) on Monday. He added that many Malaysian firms have already taken proactive steps, including internal audits, to ensure they adhere to local and global regulations. 'We in Malaysia, both the private sector and government, take this very seriously. We want to make sure everything is fully compliant.' However, Wong said there is a need for greater clarity from the government on specific reporting obligations under the strategic trade permit. 'We need to know what needs to be reported and what constitutes notification to authorities. Once this is clear, companies can incorporate any additional steps needed to meet compliance,' he said. Miti on Monday announced that, effective immediately, all exports, transshipments, and transits of US-origin high-performance AI chips would be subject to a Strategic Trade Permit under Section 12 of the Strategic Trade Act 2010 (STA 2010), also known as the Catch-All Control provision. Under the provision, individuals or companies are required to notify authorities at least 30 days in advance if they intend to export, transship, or transit any unlisted item that may be suspected of being misused or involved in restricted activities. Meanwhile, Pacific Research Center of Malaysia principal adviser Oh Ei Sun said the move would not affect local data centre or AI development projects, as it pertains primarily to the transshipment or export of US-made chips, not their import into Malaysia for domestic use. 'I would not say Malaysia's industry lacked transparency before this. But the US is now taking this issue very seriously, and we are acting accordingly because we value our overall relationship with the US,' he said.
The Sun
a day ago
- Business
- The Sun
AI chip trade permit ensures Malaysia's compliance, credibility
KUALA LUMPUR: The trade permit imposed for United States (US) origin high-performance artificial intelligence (AI) chips reaffirms Malaysia's commitment as a trusted hub for managing advanced technology exports, transshipments, and transits. In stating this, Malaysia Semiconductor Industry Association (MSIA) president Datuk Seri Wong Siew Hai said the measure sent a strong signal of Malaysia's seriousness in complying with international trade obligations, including the US export controls. 'The trade permit makes it clear that the government will not tolerate any abuse of exports, transshipment, or illicit trading,' Wong told Bernama when asked to comment on the current measures announced by the Ministry of Investment, Trade and Industry (MITI) on Monday. Wong added that many Malaysian firms have already taken proactive steps, including internal audits, to ensure they adhere to local and global regulations. 'We in Malaysia, both the private sector and government, take this very seriously. We want to make sure everything is fully compliant,' he added. However, Wong said there is a need for greater clarity from the government on specific reporting obligations under the strategic trade permit. 'We need to know what needs to be reported and what constitutes notification to authorities. Once this is clear, companies can incorporate any additional steps needed to meet compliance,' he said. MITI on Monday announced that, effective immediately, all exports, transshipments, and transits of US-origin high-performance AI chips would be subject to a Strategic Trade Permit under Section 12 of the Strategic Trade Act 2010 (STA 2010), also known as the Catch-All Control provision. Under the provision, individuals or companies are required to notify authorities at least 30 days in advance if they intend to export, transship, or transit any unlisted item that may be suspected of being misused or involved in restricted activities. Meanwhile, Pacific Research Center of Malaysia principal adviser Oh Ei Sun said the move would not affect local data centre or AI development projects, as it pertains primarily to the transshipment or export of US-made chips, not their import into Malaysia for domestic use. 'I would not say Malaysia's industry lacked transparency before this. But the US is now taking this issue very seriously, and we are acting accordingly because we value our overall relationship with the US,' he said. - Bernama
Bloomberg
2 days ago
- Business
- Bloomberg
MSIA's Wong: Tariffs To Impact Malaysia's Growth, Demand
Malaysia Semiconductor Industry Association President Wong Siew Hai believes trade tariffs would impact Malaysia's growth and demand. He speaks with Haslinda Amin on "Insight with Haslinda Amin." (Source: Bloomberg)
The Star
5 days ago
- Business
- The Star
Chip firms in Malaysia pause investment plans on tariff angst
Chip firms in Malaysia are holding back on investment and expansion as they await clarity on tariffs from the US, according to Malaysia Semiconductor Industry Association President Datuk Seri Wong Siew Hai. The companies are hoping that the US government would continue to exempt semiconductors from tariffs beyond Aug. 1, the deadline for higher levies announced by President Donald Trump, Wong said in an interview with Bloomberg TV's Haslinda Amin. "That situation, if it's clear, then I think investments will continue,' he said. "Everyone is waiting to see how it all plays out.' Trump has said he is weighing further tariffs on select industries, including semiconductors. On Monday he announced that Malaysia could see a 25% levy - "separate from sectoral tariffs' - on Aug. 1, unless it reaches an agreement with his administration. The nation was initially hit with a 24% levy in April before the US announced a 90-day pause, which moved the level to 10% on goods to facilitate talks. The US is Malaysia's third-largest market for semiconductor exports. Malaysia packages roughly a tenth of the world's semiconductors, while about two-fifths of exports are made up of electric and electronic products. Wong said the industry is already seeing a slight increase in the cost of doing business after Malaysia expanded its sales and service tax from July 1, with some firms seeing a bigger impact than others. While he was unable to quantify the impact, he said it was something that companies would have to live with. "Malaysian companies will have to double up on their productivity improvement through AI, through automation, robotics and become globally competitive,' he said. The Southeast Asian nation last year pledged at least 25 billion ringgit ($5.9 billion) to support its semiconductor industry, seeking to increase its role as tensions between the US and China shake up global supply chains. The industry aims to double its exports to 1.2 trillion ringgit by 2030, cementing its position as the sixth-largest chip exporter in the world. Malaysia hosts a number of chip-packaging facilities for Intel Corp., GlobalFoundries Inc. and Infineon Technologies AG, making it a key regional hub in the global supply chain. - Bloomberg
Free Malaysia Today
5 days ago
- Business
- Free Malaysia Today
Chip firms in Malaysia pause investment plans on tariff angst
Last year, Malaysia pledged at least RM25 billion to support its semiconductor industry. (EPA Images pic) KUALA LUMPUR : Chip firms in Malaysia are holding back on investment and expansion as they await clarity on tariffs from the US, according to Malaysia Semiconductor Industry Association president Wong Siew Hai. 'The companies are hoping that the US government will continue to exempt semiconductors from tariffs beyond Aug 1, the deadline for higher levies announced by President Donald Trump,' Wong said in an interview with Bloomberg TV's Haslinda Amin. 'That situation, if it's clear, then I think investments will continue,' he said. 'Everyone is waiting to see how it all plays out,' he added. Trump has said he is weighing further tariffs on select industries, including semiconductors. On Monday, he announced that Malaysia could see a 25% levy – 'separate from sectoral tariffs' – on Aug 1, unless it reaches an agreement with his administration. The nation was initially hit with a 24% levy in April before the US announced a 90-day pause, which moved the level to 10% on goods to facilitate talks. The US is Malaysia's third-largest market for semiconductor exports. Malaysia packages roughly a tenth of the world's semiconductors, while about two-fifths of exports are made up of electric and electronic products. Wong said the industry is already seeing a slight increase in the cost of doing business after Malaysia expanded its sales and service tax from July 1, with some firms seeing a bigger impact than others. While he was unable to quantify the impact, he said it was something that companies would have to live with. 'Malaysian companies will have to double up on their productivity improvement through AI, through automation, robotics and become globally competitive,' he said. The Southeast Asian nation last year pledged at least RM25 billion (US$5.9 billion) to support its semiconductor industry, seeking to increase its role as tensions between the US and China shake up global supply chains. The industry aims to double its exports to RM1.2 trillion by 2030, cementing its position as the sixth-largest chip exporter in the world. Malaysia hosts a number of chip-packaging facilities for Intel Corp, GlobalFoundries Inc and Infineon Technologies AG, making it a key regional hub in the global supply chain.
