2 days ago
- Business
- Free Malaysia Today
Businesses want to see policy continuity for JS-SEZ, says UEM group MD
FMT managing director Azeem Abu Bakar (left) and UEM Group Bhd managing director Amran Hafiz Affifudin at the Nikkei Forum Medini, Johor 2025 today.
ISKANDAR PUTERI : Continuity and clarity in policy are crucial for the success of the Johor-Singapore Special Economic Zone (JS-SEZ), said UEM Group Bhd managing director Amran Hafiz Affifudin.
Describing continuity as the 'most important enabler' of business confidence, Amran said stable policies were vital to attract long-term investments into the region.
'As a member of the business community, we like to see continuity in policy, especially as an infrastructure company. Our investments are long-term, so clarity and continuity of policy are very important.
'We are a business with heavy capital expenditure. Policy stability is critical,' he said at the Nikkei Forum Medini, Johor 2025, co-organised by Iskandar Investment Bhd (IIB), here today.
FMT managing director Azeem Abu Bakar, who moderated the session, pointed to UEM Sunrise – UEM Group's property development arm – as an example of how policy shifts had influenced investor sentiment over time.
'When the Iskandar Puteri development corridor was first announced under former prime minister Abdullah Ahmad Badawi, UEM Sunrise's shares climbed to around RM3.
'Then came policy tightening from 2014, particularly restrictions on Singaporean buyers to cool rising property prices, and the share price fell to around RM1 before dropping further to about 20 sen during the Covid-19 pandemic,' he said.
He said that following the announcement of the JS-SEZ, UEM Sunrise's shares rebounded to above RM1.
Azeem asked what degree of policy clarity would be needed to sustain this momentum, especially in light of former economy minister Rafizi Ramli's resignation and the absence of a named successor.
A comprehensive blueprint for the JS-SEZ, led by Rafizi, was expected to be finalised and unveiled by the end of 2025. The plan outlines the zone's long-term vision, strategic direction, and investment opportunities to attract both domestic and international investors.
Following his defeat in the race for PKR deputy president, Rafizi submitted his resignation as economy minister to Prime Minister Anwar Ibrahim.
Before his departure, according to a Malay Mail report, Rafizi had assured stakeholders that the JS-SEZ's progress would not be affected by political changes, and that the government remained committed to its long-term development.
Amran also emphasised the need to build a strong talent pool in Johor and across Malaysia.
'Nurturing local talent from Johor is the number one priority. Secondly, we need to attract talent from other parts of Malaysia.
'The theme of this forum is 'Driving Asia's Innovation Hub'. If there's no talent, there's no innovation, which means there's no hub,' he said.
Despite the political changes, he expressed confidence in the collaboration between the federal and Johor state governments with Singapore in formulating incentives to drive growth.
'We hope whatever policies are being formulated now, and in the future, will make doing business in the JS-SEZ easy,' he said.
