Malaysia digital initiatives secures RM16.2 bil worth of investments in four months
GEORGE TOWN: The total approved investments under the Malaysia Digital (MD) initiative reached RM16.2 billion from January to April this year, backed by strong global investor confidence, said Digital Minister Gobind Singh Deo.
The minister said the investment momentum is expected to generate almost 6,500 job opportunities and reinforce Malaysia's position as a regional digital leader.
He said that out of the total approved investment, RM9.9 billion or more than 60 per cent, was contributed by data centres and cloud investments.
"From an innovation lens, AI (artificial intelligence) companies now make up the largest share of new MD status companies at 27 per cent, followed by data centres (23 per cent) and Global Business Services (11.5 per cent).
"Investor confidence in Malaysia remains strong. Our top five sources of foreign direct investments include the Netherlands, Singapore, Hong Kong, India and the United Kingdom, a reflection of our robust infrastructure and investor-friendly policies," he said when delivering his keynote speech at the MD Open Day 2025 here, today.
Also present were Penang Deputy Chief Minister II Jagdeep Singh Deo, Penang Infrastructure, Transport and Digital Committee chairman Zairil Khir Johari and Malaysia Digital Economy Corporation (MDEC) non-executive chairman Syed Ibrahim Syed Noh.
Therefore, Gobind said those achievements reaffirmed Malaysia's appeal as a leading digital investment destination and, more importantly, reflect the real-world impact we are driving across our economy and workforce.
Elaborating, he said to date, Malaysia has hosted 3,891 active MD companies, including 254 in the northern region, and currently, Penang alone has attracted RM1.23 billion in MD-approved investments, with 266 jobs expected to be created.
"While 93 per cent of these investments are driven by data centres and cloud, more than 60 per cent of job opportunities are in high-value sectors such as IC (integrated circuit) design and embedded software," he added.
The MD Open Day 2025 is a dedicated platform for engagement between MD-status companies, investors, government agencies, and key stakeholders within Malaysia's digital economy ecosystem.
The event also marked the official launch of the Digital Ministry's northern regional office, reinforcing the government's commitment to regional empowerment and nationwide alignment.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Sun
a day ago
- The Sun
Derivatives trading boom in India
MUMBAI: Half a dozen global trading giants, from Citadel Securities and IMC Trading to Millennium and Optiver are ratcheting up their presence in India's booming derivatives markets – fuelling a hiring spree and pushing exchanges to improve technology. The firms' hiring plans, being reported for the first time, come amid expectations that large domestic consumer and investor bases will help shield India from global turmoil sparked by the trade policies of US President Donald Trump. The South Asian nation made up nearly 60% of global equity derivative trading volumes of 7.3 billion in April, the Futures Industry Association says, while its regulators say notional turnover of the contracts has grown 48 times since March 2018. For Western firms, the gold rush is too big to ignore, particularly after US trading firm Jane Street earned US$2.34 billion (RM9.9 billion) from its India trading strategy last year, some of the firms' executives said. 'We have seen competition increasing both on the trading front, where you see more players going for the same opportunities, and on the job market as well,' said Jocelyn Dentand of global high-speed trader IMC Trading. The firm plans to grow its team by more than 50% by the end of 2026 to stand at more than 150, added Dentand, the managing director of its India unit. Foreign investors turned buyers of Indian stocks in April and May, purchasing a net US$2.8 billion, as they abandoned their previous selling stance from October 2024 to March 2025, prompted by high valuations and slower growth in earnings. US-based Citadel Securities, a market-making firm founded by well known investor Kenneth Griffin, runs a leaner team of around 10 in India but has ramped up capital allocation to its operations, said a source familiar with its plans. 'In India, we're constantly looking for talent and constantly hiring,' said the source, who sought anonymity in the absence of authorisation to speak to the media and declined to give details of the plan. Hedge fund Millennium is expanding its India desk via Dubai and Singapore, said a source with direct knowledge of the matter, who also sought anonymity on the same grounds. Millennium declined to comment for the story. Citadel Securities did not respond to an email seeking comment. Netherlands-based Optiver, which launched India operations in 2024, plans to grow its team to 100 by the end of 2025, a spokesman said, up from 70 now. 'Optiver is investing ambitiously in India, with a view to expanding to 100 FTEs by year-end and scaling further in the years ahead,' the spokesman added. Amsterdam-based trading firm Da Vinci and London-based Qube Research and Technologies are also recruiting for quantitative trading roles in India, public postings for jobs show. Global trading firms are also looking to expand in India by recruiting aggressively from top domestic universities and poaching from home-grown competitors. They have hired about 300 people in India in the last two years across the trading, technology, compliance, risk, and legal functions, Hong Kong-based recruiter Aquis Search estimates. 'We foresee a good run for the next few years,' said Annpurna Bist, its head of quant and tech. Intensifying competition has driven up salaries, with even junior traders paid more than double the figure of three years ago, said Bhautik Ambani, head of AlphaGrep Investment Management, one of India's leading quant trading firms. India's top engineering schools have become the favoured hunting grounds for talent. 'We almost solely hire our traders and software engineers from Indian Institutes of Technology (IITs),' said IMC's Dentand, referring to the country's chain of prestigious engineering schools. But hiring efforts are now being widened to the universities beyond the IITs, Dentand said. The influx of global trading firms has opened up opportunities for India's two main exchanges, which are both upgrading their tech infrastructure. The National Stock Exchange of India (NSE) plans to add 2,000 co-location racks over the next two years while older stalwart the Bombay Stock Exchange (BSE) aims to scale up to 500 by the end of fiscal 2026, from none in March 2024. Such racks are servers at exchanges that cut trade execution times to microseconds. 'We are a late entrant and need to provide additional value for the unfulfilled demand from high-frequency trading firms and quant firms, amongst others, for co-location racks,' said BSE CEO Sundararaman Ramamurthy. The exchange has spent between 4.5 billion rupees and 5 billion rupees (RM221 million to RM247 million) on technology in the last two years, he said. The NSE and regulator the Securities and Exchange Board of India did not respond to queries for the report. – Reuters
Malaysian Reserve
3 days ago
- Malaysian Reserve
USSFCU President & CEO Timothy L. Anderson Named 2025 CEO of the Year by MD
ALEXANDRIA, Va., June 18, 2025 /PRNewswire/ — The United States Senate Federal Credit Union (USSFCU) is proud to announce that their President and CEO Timothy L. Anderson has been named the 2025 CEO of the Year by the MD|DC Credit Union Association. This prestigious award honors Anderson's visionary leadership, deep commitment to the credit union movement, and dedication to building an inclusive, mission-driven culture at USSFCU. A People-First Approach to Leadership Since taking the helm in 2019, Anderson has led USSFCU with a strategic, people-first philosophy that has reshaped the organization's workplace culture. 'Tim has helped transform USSFCU from a workplace into a community,' said Board Chair Jay Moore. 'He empowers people to grow, champions internal talent, and invests in his team at every level.' His focus on employee development and wellbeing has earned USSFCU consecutive Top Workplace honors from The Washington Post and USA Today. Driving Member Growth and Innovation Under Anderson's leadership, USSFCU has surpassed $1.5 billion in assets and enhanced its member experience with innovations including: A modern, secure online and mobile banking platform An after-hours call center for extended support Interactive Teller Machines (ITMs) The elimination of overdraft and NSF fees These enhancements reflect Anderson's commitment to financial inclusion and service excellence. Investing in Community Impact Anderson has expanded USSFCU's role in the community through partnerships that provide free financial counseling, credit-building resources, and youth education programs. In 2024, USSFCU donated over $65,000 to local nonprofits and led seasonal donation drives benefiting regional causes. A Leader in the Credit Union Movement Nationally recognized as an innovative and mission-driven leader, Anderson previously chaired the African-American Credit Union Coalition (AACUC) and was inducted into its Hall of Fame in 2023. He currently serves on the boards of the MD|DC Credit Union Association and Credit Union Miracle Day and has held leadership roles with CUNA (now America's Credit Unions) and USSFCU's CUSO. With more than 30 years of executive experience, Anderson continues to influence the future of credit unions while advancing USSFCU's mission of financial empowerment. About USSFCUThe United States Senate Federal Credit Union has been proudly serving the Senate community and beyond for nearly 90 years. As a member-owned, not-for-profit financial institution, USSFCU is committed to providing exceptional service, competitive financial products, and educational resources to empower members on their financial journey. For more information, visit View this press release on our website at
Barnama
3 days ago
- Barnama
KUKA Robotics Expands Malaysian Footprint With New Penang Office, Strengthening Nation's Automation Hub Status
PENANG, June 18 (Bernama) -- KUKA Robotics Malaysia, a subsidiary of Germany-headquartered KUKA — a global leader in intelligent automation solutions and majority-owned by China's Midea Group – today marked a significant milestone with the official launch of its new Penang branch in Bandar Cassia, Batu Kawan. This strategic move reinforces the company's commitment to advancing industrial automation and robotics innovation in Malaysia and across the Asia-Pacific Economic region. The ceremony was graced by YB Tuan Jagdeep Singh Deo, Deputy Chief Minister II of Penang, alongside senior representatives from the Ministry of Investment, Trade and Industry (MITI), Malaysian Investment Development Authority (MIDA), InvestPenang, and key industry leaders.
