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New Straits Times
2 days ago
- Business
- New Straits Times
Johor-Singapore Economic Zone draws billions as Malaysia eyes high-value growth
ISKANDAR PUTERI: The Johor-Singapore Special Economic Zone (JS-SEZ) is rapidly gaining traction as global investors bet on Johor's strategic location and policy stability to anchor their expansion into Southeast Asia. Speaking at the Nikkei Forum Medini Johor 2025, Invest Johor chief executive officer Natazha Harris said the agency had received over 400 investment enquiries from multinational companies since the zone's formal establishment in January. "Regardless of global headwinds, Johor is seen as a pocket of stability and a strong business hub," Natazha said, adding Malaysia offers peace, stability, resilience and real opportunities. He was referring to the escalating geopolitical tensions and shifting trade dynamics, with tariffs imposed by U.S president Donald Trump. The JS-SEZ, a joint initiative between Prime Minister Datuk Seri Anwar Ibrahim and Singapore's Prime Minister Lawrence Wong, spans 3,571 sq km, nearly five times the size of Singapore. It aims to catalyse bilateral integration and position southern Malaysia as a high-value investment gateway to Asean. The momentum is already visible. According to the Malaysian Investment Development Authority (MIDA), Johor pulled in RM48.5 billion in foreign direct investment (FDI) in 2024 -a 13 per cent increase from the year before. MIDA deputy chief executive officer Sivasuriyamoorthy Sundara Raja said in just the first quarter of 2025, FDI into Johor stood at RM27.4 billion, driven by the services and manufacturing sectors. "With facilitation measures in place, Malaysia is well-positioned to attract quality investments," he said. Meanwhile, Iskandar Investment Bhd chief executive officer Datuk Idzham Mohd Hashim, said Malaysia does not view Singapore as a competitor, but a strategic partner in a "natural symbiotic relationship." "We are not 'taking' companies from Singapore," he said. "We are working with Singaporean firms and authorities to draw multinationals to the region. "Johor offers up to 60 per cent cost savings compared to Singapore, and about 30 per cent compared to Kuala Lumpur," Idzham said. He added that the JS-SEZ's vision is not merely to be a low-cost extension of Singapore, but to drive high-value growth. Malaysia is targeting 100 strategic investment projects and 20,000 skilled jobs over the next decade. Proposed incentives include a 5 per cent corporate tax rate for 15 years on new manufacturing investments, and a 15 per cent income tax for knowledge workers. Iskandar Regional Development Authority chief executive officer Datuk Noorazam Osman, said almost 300,000 Johoreans cross into Singapore daily for higher wages. "This time, we are tightening bilateral coordination and adopting sector-specific approaches." The JS-SEZ is prioritising digital economy, advanced manufacturing, logistics, and green energy. "The area enjoyed a spike in data centre investments, with tech majors including ByteDance, Microsoft, and Japan's telecommunication company- Nippon Telegraph and Telephone Corporation announcing major expansion plans. The two-day forum co-organised by IIB and Japan's Nikkei Inc. concludes today. The event was hosted by the Johor state government with support from Invest Johor, the Johor Economic Planning Division and the Iskandar Puteri City Council. It is part of ongoing efforts to anchor Johor as a regional innovation hub, supporting the JS-SEZ's vision of deeper cross-border integration with Singapore.
Borneo Post
13-06-2025
- Business
- Borneo Post
RM27.4 mln allocated for three new devt projects in Kabong
Mohd Chee (centre) highlights some points during the meeting at Baitulmakmur II. KUCHING (June 13): A total of RM27.4 million has been approved for the implementation of three new development projects under the trade, tourism and rural sector in Kabong. According to a Sarawak Public Communications Unit (Ukas) report, Kabong assemblyman Dato Mohd Chee Kadir said the three projects were among 11 discussed during the Betong Division Development Agency (BDDA) Trade, Tourism and Rural Sector Committee Meeting No. 2/2025, held at Baitulmakmur II in Petra Jaya on Thursday. 'The three major projects for Kabong are the upgrading of facilities at Tanjung Kembang Beach worth RM10 million; the development of a food court and homestay in the same area costing RM15.9 million; and riverbank protection works at Sungai Seblak valued at RM1.5 million,' he said. Mohd Chee, who also chairs the BDDA Trade, Tourism and Rural Sector Committee, said the projects are currently at the planning stage. He added that the initiative is part of the Sarawak government's efforts through BDDA to boost the trade and tourism development in coastal and rural areas in an inclusive manner. He also emphasised the importance of collaboration and commitment from all relevant agencies to ensure smooth implementation. 'Our people are eager for progress, and I hope that all involved will play their part responsibly so that the community can truly benefit from these developments,' he said. allocation Dato Mohd Chee Kadir development projects Kabong
Barnama
09-06-2025
- Business
- Barnama
IMFC-J Succesfully Facilitates Five Projects Worth RM16.5 Bln In JS-SEZ To Date
BUSINESS KUALA LUMPUR, May 19 (Bernama) -- Five major investment projects have been fully facilitated through the Invest Malaysia Facilitation Centre Johor (IMFC-J) to date, representing RM16.5 billion in committed investment in the Johor-Singapore Special Economic Zone (JS-SEZ), said Johor Menteri Besar Datuk Onn Hafiz Ghazi. He said the IMFC-J is currently in active engagement with 47 more investors, with potential investments totalling RM40.1 billion, across key sectors such as manufacturing, data centres, and energy from key markets such as Singapore, China, and South Korea. "In just over two months since its launch, IMFC-J has received more than 300 investor enquiries, with 100 focused on the Forest City Special Financial Zone alone. "But as a facilitator, the job of the IMFC-J is also to convert the very real interest into actual investments, and that is exactly what it has been delivering on," he said during his opening address at the 'JS-SEZ Partners Dialogue: Advancing Facilitation' forum today. IMFC-J was launched last February in collaboration with federal partners, jointly operated and led by Iskandar Regional Development Authority (IRDA), Invest Johor, and Malaysian Investment Development Authority (MIDA) to remove bottlenecks and fast-track investor journeys within the JS-SEZ. In the meantime, Onn Hafiz highlighted that Johor has secured RM27.4 billion in total approved investments in the first quarter of 2025 - a record-breaking achievement - as it took the state nine months in 2024 to reach the same milestone. "We currently have an additional RM23 billion in the investment pipeline, expected to materialise by the end of this quarter. If these numbers hold, and we believe they will, Johor will exceed RM50 to RM60 billion in total investments in 2025, surpassing last year's RM48.5 billion - this will position Johor yet again in the top three investment destinations in Malaysia," he added. -- BERNAMA
New Straits Times
05-06-2025
- Business
- New Straits Times
Johor records RM27.4bil FDI in Q1, fuelled by JSSEZ
KOTA TINGGI: The impact of the Johor-Singapore Special Economic Zone (JS-SEZ) is already being felt, with Johor recording RM27.4 billion in foreign direct investment (FDI) in the first quarter of this year. Johor Menteri Besar Datuk Onn Hafiz Ghazi said this was a substantial increase from RM4 billion achieved in the same period last year. "Last year, in the first quarter of 2024, we only achieved RM4 billion in FDI. That means, if you compare quarter to quarter, there's an increment of RM24 billion just within one year, and this is just the beginning," he said. He noted that the federal government has allocated about RM5 million to upgrade infrastructure within the SEZ area, which includes Desaru Coast, to ensure they are world-class standards. "As you can see, we've started widening highways, including the North-South Expressway, and upgrading the Senai-Desaru Expressway. The Rapid Transit System is also progressing and is expected to be operational by 2027," he added. Onn Hafiz made these remarks during the signing ceremony of a new hotel management agreement and a press conference to announce the appointment of a new operator for Desaru Coast here, today. The ceremony marked the transition of Desaru Coast's flagship luxury resort from One&Only to Mandarin Oriental, a move expected to boost the destination's appeal to high-net-worth travellers from Singapore and the wider region. Meanwhile, the JS-SEZ is a landmark bilateral initiative aimed at strengthening economic integration, connectivity, and cooperation between Malaysia and Singapore, particularly through Johor. A Memorandum of Understanding was signed in January 2024, followed by a formal Agreement of Cooperation in January 2025. Onn Hafiz said to ensure the success of the SEZ, the government is also focusing on human capital development through the Johor Talent Development Council. "We're working with the hotel industry to ensure our people receive training that meets industry standards. Whatever we do, it must have positive impact on our people. Out of 1,500 employees in Desaru Coast, 70 per cent are Johoreans," he added.
The Star
24-05-2025
- Business
- The Star
OpenAI teams up with former Apple design chief Jony Ive as AI race heats up
Jony Ive, a former Apple executive known for designing the iPhone, is joining forces with OpenAI, the San Francisco startup behind popular chatbot ChatGPT. On Wednesday, OpenAI said it's buying io, an AI devices startup that Ive founded a year ago, for nearly US$6.5bil (RM27.66bil) in an all-stock deal, the largest acquisition in OpenAI's history. "We have the opportunity here to kind of completely reimagine what it means to use a computer," OpenAI chief executive Sam Altman said in a video with Ive about the partnership. The pair don't specify what AI devices they're working on, but Altman called it "the coolest piece of technology that the world will have ever seen." The partnership shows how OpenAI is taking on some of the world's most powerful tech companies including Google, Apple and Meta that are also working on AI-powered devices to shape the future of computing. Chirag Dekate, a VP analyst at Gartner, said the announcement reflected an "inflection point" in the tech industry, where future products and services will offer users more personalized and proactive assistance. "This shift suggests a future where technology is less about the tools themselves and more about the intelligently orchestrated experiences they enable," he said in an email. Globally, spending on generative AI is expected to total US$644bil (RM27.4 trillion) in 2025, an increase of 76.4% from 2024, according to a forecast by Gartner, a research and advisory firm based in Connecticut that focuses on technology. The race to build AI-powered wearable gadgets and roll out more AI tools that can generate video, text and code and help people shop also means that major tech companies are recruiting top-tier talent. Earlier in May, OpenAI hired Fidji Simo, a former top Meta executive and the chief executive of grocery delivery startup Instacart, to lead the startup's applications team. Ive, a British American designer, is a well-known figure in the tech industry because he designed some of Apple's iconic products such as the Macbook, iPhone, iPad and iPod. Joining Apple in the 1990s, Ive became Apple's chief design officer in 2015. He left the company in 2019 and started LoveFrom, a creative collective and design firm that worked with brands including OpenAI. Silicon Valley tech companies have been working on gadgets, including headsets and glasses, for years but they're still not as ubiquitous as the smartphone. There have also been major flops such as Humane's AI pin, a wearable virtual voice-operated assistant that was criticised for various issues such as providing inaccurate information and overheating. In February, San Francisco-based Humane shut down the AI pin after it was acquired by Hewlett-Packard. But the fumbles haven't stopped tech companies from barreling forward with building glasses, brain-computer interfaces and humanoid robots as they look to a future beyond the smartphone. When Google released smart glasses in 2013 that could shoot photos and videos, the company faced concerns about people using the device to surreptitiously record other people or read text while ignoring others. But the gadget resurfaced years later. This week, Google unveiled a prototype of its AI smart glasses at its annual I/O developer conference in Mountain View, demonstrating how people can use the device to search for information about a painting, travel and other topics without having to type on their smartphone. The search giant is partnering with eyewear brands Warby Parker and Gentle Monster on smart glasses. Last year, Santa Monica, California-based Snap unveiled the fifth generation of Spectacles, its augmented reality glasses that overlay digital objects on the physical world. The device, which was only available for developers, allowed people to play with virtual pets, conjure up images with a voice command or swing a virtual golf club. Meta teamed up with Ray-Ban on smart glasses that include an AI assistant that can answer questions, translate and help take a photo. It's also working on a more powerful pair of AR glasses that lets people take video calls, get recipe recommendations and multitask in other ways. And Apple, which unveiled a pricey mixed-reality headset known as the Vision Pro in 2023, is also reportedly working on smart glasses. In the video with Altman, Ive said the products that people use to connect to technology are decades old, so it's "just common sense to at least think surely there's something beyond these legacy products." "I have a growing sense that everything I've learned over the last 30 years has led me to this place and to this moment," Ive said in the video. – Los Angeles Times/Tribune News Service
