Latest news with #JSL
The Star
2 days ago
- Business
- The Star
Johor receives RM16.71bil investments through cutting red tape, says MB Onn Hafiz
ISKANDAR PUTERI: The Invest Malaysia Facilitation Centre Johor (IMFCJ) has received more than 400 enquiries, including six confirmed investments, within just five months, says Johor Mentri Besar Datuk Onn Hafiz Ghazi. He said the IMFCJ, along with the Johor Super Lane (JSL) initiative, is transforming how investments are executed in the state by offering fast-track approvals for priority projects and eliminating unnecessary bureaucracy. 'The IMFCJ is more than a one-stop centre, it is a fully integrated federal-state facilitation platform, the first of its kind, and it is already delivering results. 'In just five months, we have received 439 enquiries, including 57 potential investments valued at RM26.18bil, and six committed investments amounting to RM16.71bil,' he said. He said this in his speech during the closing ceremony of the Nikkei Forum here on Thursday (June 19). Also present at the event here was Prime Minister Datuk Seri Anwar Ibrahim. Onn Hafiz added that the initiatives offer expedited approval processes for priority investments, significantly cutting down red tape and shortening timelines. 'The processing time has been reduced from three months to as little as one to 35 days. 'This is real efficiency. This is smart governance and this is how Johor is redefining investment facilitation,' he said. Onn Hafiz also said the sharp increase in investments this year compared to last year reflects investors' growing confidence in the state. 'Johor recorded RM30.1bil in investments in the first quarter of 2025, a significant leap from RM4.1bil during the same period last year. 'It took us nine months to reach that figure last year. This year, we achieved it in just three months. 'This reflects the trust that both domestic and international investors place in Johor. They see the state's potential, its stable environment, and the consistent spirit of progress that defines us,' he said. More to come
Business Standard
04-06-2025
- Business
- Business Standard
Jindal seeks duties on steel imports to shield MSMEs, boost Make in India
Jindal Stainless Chairman Ratan Jindal on Wednesday urged the government to protect the industry and livelihood of people by imposing appropriate duties on surging imports from select countries. The industry leader made the remarks while addressing the Global Stainless Steel Summit (2025) in Mumbai. "Today, low-priced imports from China and Vietnam persist across numerous industries, including stainless steel. In this context, it is essential that we collectively take a stand to protect our industry, particularly MSMEs, and the livelihood of our people, by imposing appropriate duties on these countries. I request the government's continuous support in this regard," he said while addressing the gathering. Jindal said many countries with excess production disrupt the level-playing field, particularly for the MSME sector. They divert surplus stainless steel through nations with free trade agreements with India or through ASEAN countries like Vietnam. "We have all witnessed how Indian industries like textiles, electronics, and machinery have been severely impacted by the aggressive export policies of countries like China and Vietnam," he said. India's installed stainless steel capacity stands at 7.5 MT, with a current utilisation of about 60 per cent, indicating significant potential for ramp-up, provided the right policy environment and demand momentum are sustained. He said future investment in stainless steel is bound to get impacted. As domestic capacities are lying idle and 30 per cent of the consumption is still coming from imports. He also advocated for a separate policy to promote the interests of stainless steel sector. "We, thus, need a policy ecosystem that is conducive to domestic manufacturing and consistent in favouring Make in India in the long term. "Only then will we be able to claim our rightful position in the global stainless steel industry," Jindal said. Later, addressing the media, JSL Director Vijay Sharma said on behalf of the industry, ISSDA will be filing and application with Directorate General of Trade Remedies (DGTR) this month to investigate the dumping of stainless steel items into the domestic market from select group of countries. India's stainless steel imports rose to 1.73 million tonnes in FY25, with China, Indonesia, Vietnam and South Korea being the major contributors to the shipments, as per the market research firm BigMint.
Time of India
04-06-2025
- Business
- Time of India
Jindal Stainless chairman urges govt to impose appropriate duties on imports from certain countries
Jindal Stainless Chairman Ratan Jindal on Wednesday urged the government to protect the industry and livelihood of people by imposing appropriate duties on surging imports from select countries. The industry leader made the remarks while addressing the Global Stainless Steel Summit (2025) in Mumbai. "Today, low-priced imports from China and Vietnam persist across numerous industries, including stainless steel. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Homeowners can claim a free boiler upgrade if they live in these postcodes Eco Green Tips Apply Now Undo In this context, it is essential that we collectively take a stand to protect our industry, particularly MSMEs, and the livelihood of our people, by imposing appropriate duties on these countries. I request the government's continuous support in this regard," he said while addressing the gathering. Jindal said many countries with excess production disrupt the level-playing field, particularly for the MSME sector. They divert surplus stainless steel through nations with free trade agreements with India or through ASEAN countries like Vietnam. Live Events "We have all witnessed how Indian industries like textiles, electronics, and machinery have been severely impacted by the aggressive export policies of countries like China and Vietnam," he said. India's installed stainless steel capacity stands at 7.5 MT, with a current utilisation of about 60 per cent, indicating significant potential for ramp-up, provided the right policy environment and demand momentum are sustained. He said future investment in stainless steel is bound to get impacted. As domestic capacities are lying idle and 30 per cent of the consumption is still coming from imports. He also advocated for a separate policy to promote the interests of stainless steel sector. "We, thus, need a policy ecosystem that is conducive to domestic manufacturing and consistent in favouring Make in India in the long term. "Only then will we be able to claim our rightful position in the global stainless steel industry," Jindal said. Later, addressing the media, JSL Director Vijay Sharma said on behalf of the industry, ISSDA will be filing and application with Directorate General of Trade Remedies (DGTR) this month to investigate the dumping of stainless steel items into the domestic market from select group of countries. India's stainless steel imports rose to 1.73 million tonnes in FY25, with China, Indonesia, Vietnam and South Korea being the major contributors to the shipments, as per the market research firm BigMint. PTI
Business Standard
04-06-2025
- Business
- Business Standard
Western Carriers gains on Rs 28-cr order from Jindal Stainless
Western Carriers (India) rose 1.53% to Rs 112.70 after the company announced that it has received a work order worth Rs 27.73 crore from Jindal Stainless (JSL) for trailer hiring and trip-based container movement within the JSL plant in Jajpur, Odish The contract, valued at Rs 27.73 crore, is scheduled to be executed over a period of two years. Western Carriers (India) is a player in the Indian logistics industry and engaged in providing single, multimodal, and other transportation services, warehousing, and other ancillary services. On the financial front, the companys consolidated net profit declined 41.8% to Rs 14.08 crore, despite a 6.7% rise in net sales to Rs 428.58 crore in Q4 FY25 over Q4 FY24.
Business Upturn
04-06-2025
- Automotive
- Business Upturn
Western Carriers secures Rs 27.73 crore work order from Jindal Stainless for trailer movement at Jajpur plant
By Aditya Bhagchandani Published on June 4, 2025, 13:28 IST Western Carriers (India) Limited has announced the receipt of a significant work order from Jindal Stainless Limited (JSL), valued at approximately Rs 27.73 crore. The contract pertains to the hiring of trailers on a trip basis for container movement within JSL's plant located in Jajpur, Odisha. According to the company's filing with BSE and NSE under Regulation 30 of SEBI (LODR) Regulations, the agreement will span a duration of two years. The nature of the contract focuses exclusively on domestic operations, with no related party involvement reported. This work order is expected to strengthen Western Carriers' logistics footprint in the industrial transport sector, particularly in handling operations for large-scale clients in the stainless steel industry. The company confirmed that the deal was secured through standard commercial procedures and does not fall under related party transactions. The development reflects Western Carriers' continued momentum in securing high-value domestic logistics contracts, further reinforcing its position in the container transport and trailer hire segment. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
