Latest news with #TengkuZafrulAziz
Daily Express
12-06-2025
- Business
- Daily Express
Investors hesitant amid global economic concerns, says Tengku Zafrul
Published on: Thursday, June 12, 2025 Published on: Thu, Jun 12, 2025 By: Minderjeet Kaur, FMT Text Size: Investment, trade and industry minister Tengku Zafrul Aziz said it is becoming increasingly difficult to make projections on investments. (Bernama pic) Kuala Lumpur: Foreign investors are taking a cautious approach towards new investments in Malaysia due to global economic uncertainties, investment, trade and industry minister Tengku Zafrul Aziz said today. He warned that attracting new investors would be challenging in the current climate, noting that while existing investors in Malaysia remained committed, newcomers were showing hesitation. Advertisement 'Those who have committed have not pulled out. But the ones that have not committed are now thinking (whether to invest or not),' he told reporters during the regional launch of the Asean Economic Community Strategic Plan 2026–2030. He also said it was becoming increasingly difficult to make projections on investments. 'When we have discussions with companies, we understand their concerns. Many (investors) are adopting a wait-and-see approach due to the dynamic geopolitical situation, especially between the US and China. 'New companies looking to invest want to assess the global situation first,' Tengku Zafrul added. When asked about Malaysia's RM89 billion in approved investments in the first quarter of the year – up 3.7% from the same period last year – Tengku Zafrul said it was 'pleasantly surprising' given typical first-quarter sluggishness. 'In terms of foreign investment, it is almost 70% of the investment. And at the same time, we see that the biggest sector is services, especially the digital economy,' he added. Tengku Zafrul is expected to travel to Washington on June 18 to continue negotiations over the US tariffs imposed on Malaysian goods. He said the Malaysian government hopes to persuade Washington to reduce import duties for certain sectors to below 10%. 'We also want to ensure that our local companies exporting to the US – especially in sectors such as furniture and downstream palm oil – are taken into account,' Tengku Zafrul said, adding that these sectors 'are not really in competition' with American industries. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Malay Mail
11-06-2025
- Business
- Malay Mail
Mida: Malaysia secures RM89.8b approved investments in Q1 2025, up 3.7 pc y-o-y
KUALA LUMPUR, June 11 — Malaysia has secured RM89.8 billion in approved investments for the first quarter of 2025 (1Q 2025), a steady 3.7 per cent year-on-year increase despite a challenging global economic backdrop. In a statement today, the Malaysian Investment Development Authority (Mida) said these investments, spread across 1,556 projects in manufacturing, services, and primary sectors, are set to generate over 33,300 new employment opportunities for Malaysians. 'The results reflect continued investor confidence in the country's clear policies and long-term fundamentals, bucking the trend of cautious international capital flows due to geopolitical and macroeconomic volatility, and the intensifying global competition for fresh investments. 'Foreign investments (FIs) dominated the investment landscape, contributing RM60.4 billion or 67.3 per cent of total investments, while domestic investments (DIs) accounted for RM29.4 billion or 32.7 per cent,' it said. Besides job creation, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Aziz said the increase in the Managerial, Technical, and Supervisory (MTS) index to 46.3 per cent from 44.2 per cent in the same quarter last year reflects the country's success in creating higher-skilled, better-paying jobs. 'With a better integrated Asean economy, which we are working hard on as Asean chair, we are also paving the way for Malaysia's continued positioning as a manufacturing and services hub to this fast-growing 680-million strong region,' he said. He said the investment environment in 2025 is expected to remain challenging due to continued geopolitical and macroeconomic headwinds from the US-China trade war. 'Nonetheless, although major markets' protectionist policies and supply chain frictions continue to weigh in on companies' investment decisions, Malaysia's clear policies should be able to attract more investments from Asia's growing economy, which is expected to expand to about 42 per cent of global gross domestic product by 2040,' he said. Besides bringing in good jobs and business opportunities, Mida chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the projects secured by Mida for 1Q 2025 supported the national effort to build a more diversified and resilient economy. 'To remain a choice location for high-performing companies, we will strengthen our local ecosystem as enablers and prepare our workforce to seize new job and leadership opportunities. 'By ensuring Malaysia remains relevant in global value chains, we can attract and anchor investments that benefit our economy, enterprises and people for the long haul,' he said. As of June 10, 2025, Mida is actively managing a robust pipeline of proposed projects, collectively valued at RM48.5 billion. 'The services sector leads this momentum, with 683 projects accounting for RM27.6 billion, while the manufacturing sector contributes RM20.9 billion across 89 projects. 'Complementing this pipeline, an additional RM59.3 billion in high-potential investment leads are currently under negotiation. These figures signal not only a healthy appetite for investment but also a growing confidence in Malaysia's economic fundamentals and policy direction,' it said. — Bernama
The Star
03-06-2025
- Politics
- The Star
A shot in the arm for PKR with Tengku Zafrul
THERE isn't going to be any by-election called to make way for Datuk Seri Tengku Zafrul Aziz to contest in Selangor. There is no compelling reason for anyone to make way immediately for the Investment, Trade and Industry Minister, who has announced his decision to quit Umno and plans to join PKR. His term as a Senator will only expire at the end of the year, which means he still has about six months to go as minister. At this point, all talk that he is eyeing a Selangor state seat is mere speculation by the media. Why not a safe parliamentary seat in Kuala Lumpur where the options are wider and better? Selangor Mentri Besar, Datuk Seri Amiruddin Shari has already said he is remaining as the Mentri Besar. It is also no secret that the Selangor palace expects the Mentri Besar to complete his full term as chief executive of the state. Whether the newly-elected PKR vice-president will decide to focus instead on a parliamentary seat in the next general election, expected to be held within two years, is another matter. But as of now, there is no likelihood of any change in Selangor. There has been much debate over Tengku Zafrul's next political plan. Umno is understandably upset that the party would lose a Federal Cabinet post and there have been accusations that he is not a loyal member of the party. Amidst all the noise, the harsh reality is that Selangor Umno is in the doldrums. It hasn't recovered from its beating in the last general election and seems to be heading nowhere. Umno contested in 22 seats in the 2022 General Election, and lost all. Tengku Zafrul himself lost to Amanah's Datuk Seri Dr Zulkefly Ahmad in the Kuala Selangor parliamentary seat. The political prospects for Selangor Umno haven't improved and despite the hue and cry over Tengku Zafrul's resignation, no one has a clue as to how Selangor Umno can recover its lost seats. While there have also been brickbats over whether a newbie deserves a ticket to contest for PKR, no one has disputed Tengku Zafrul's capability. Let's face it, all parties have fielded young and new faces in every election. It has never been about the length of a candidate's membership in the party. As Malaysia navigates a critical juncture in its economic and political journey, the role of capable, forward-looking leaders has never been more crucial. Tengku Zafrul entered politics as a technocrat but his alignment with the unity government has led to intense private conversations about his potential future within PKR. Without a doubt, the Prime Minister is comfortable with his role as MITI Minister. This is especially so when Malaysia needs to negotiate with the unpredictable Trump administration and its retaliatory tariffs. Like him or loath him, no one would dare say he has not done his job well as a Minister. Should he proceed to join PKR - and if his application is approved - it will certainly strengthen Malaysia's reformist agenda as well as multi-racial politics. Urbane, professional and approachable, he has global networking. At a personal level, he enjoys a wide circle of multi-racial contacts, friends and supporters. More importantly, he brings a rare and valuable experience from both the public and private sectors. He is a natural bridge between the government and private sectors, and we do need politicians who understand investments, digital transformation, green energy, the semi-conductor industry and industrial transformation. Unlike some Malay politicians who thrive on race and religion, Tengku Zafrul has stayed above such communal agenda. Instead, he maintains a moderate voice and prefers to focus on results and policies. Malaysians are sick and tired of chest thumping politicians who polarise the nation with the narrative of race and religion. A stable and progressive government with plans for long-term reforms, and a performance-driven leadership, is needed more than ever. Tengku Zafrul's entry into PKR will add depth to the party's economic branch and reinforce the image that the party places importance on competence.
Borneo Post
30-05-2025
- Politics
- Borneo Post
Tengku Zafrul quits Umno, seeks new start with PKR
Tengku Zafrul is also vacating his seat on the Umno supreme council as well as his position as its Kota Raja division chief. – Bernama photo KUALA LUMPUR (May 30): Datuk Seri Tengku Zafrul Aziz has resigned from Umno and announced plans to apply for membership in political ally PKR. The investment, trade and industry minister is also vacating his seat on the Umno supreme council as well as his position as its Kota Raja division chief. 'I have submitted my resignation letter to the top leadership of Umno,' he wrote in an Instagram post tonight. He said the decision was not made lightly and came after extensive reflection and consultation with colleagues inside and outside the party, including Umno president Datuk Seri Ahmad Zahid Hamidi. 'I took quite a long time to deeply reflect on this decision, especially since Umno is the only political party I have ever joined, since 1997,' he said. He confirmed that he has informed PKR's leadership of his intent to join and will go through the usual membership process. 'I will follow the usual application process to become a member of the People's Justice Party,' he added. He ended his announcement by thanking Umno members and supporters for their backing over the years. – Malay Mail lead pkr quite Tengku Zafrul Umno
The Sun
28-05-2025
- Business
- The Sun
MITI studying proposal to merge HDC and MATRADE
KUALA LUMPUR: The Investment, Trade and Industry Ministry (MITI) is studying the merger of the Halal Development Corporation (HDC) and the Malaysia External Trade Development Corporation (MATRADE). Its Minister Datuk Seri Tengku Zafrul Aziz said the matter is under discussion because there were several other proposals put forward such as strengthening the country's halal industry. 'We want to strengthen the halal industry by focusing on halal development and do not want any overlap in terms of halal trade. 'We want MATRADE to focus more on halal trade in terms of providing access to halal products, while we want to ensure that HDC focuses more on halal development,' he told reporters after the ASEAN-GCC Economic Forum 2025 here today. Tengku Zafrul said the Malaysian Investment Development Authority (MIDA) would focus on investments involving the halal industry. MITI announced recently that MATRADE and HDC would be merging to form a stronger and more cohesive halal trade and industry ecosystem. The ministry said a pro-tem committee for the strategic merger has been established to align resources and operational frameworks while ensuring that the consolidation of functions and jobs is equitably managed. 'The merger aims to enhance Malaysia's leadership and competitiveness in the global halal market, which is projected to reach US$5 trillion by 2030,' MITI said in a statement. Meanwhile, Tengku Zafrul said the Malaysian Halal Council secretariat has proposed the establishment of a Halal Commission, which will be brought to the Cabinet's attention soon. He said the objectives to establish the commission will be announced after obtaining approval from the Cabinet meeting. 'At the moment, it is still in 'circulation' and we are gathering comments and feedback from other ministries. 'Once approved, we will be able to provide clarity regarding the establishment of this commission,' he said.
