Selangor has made a bold move to strengthen its semiconductor industry with the opening of an integrated circuit (IC) design park in Puchong, offering competitive salaries that rival those in Singapore and Vietnam. According to Yong Kai Ping, the chief executive officer of the Selangor Information Technology and Digital Economy Corp (Sidec), this initiative is part of the state’s strategy to secure the...

The Malaysian government is set to review the nation's minimum wage, with a proposal expected to be presented to the Cabinet next month, according to Human Resource Minister Steven Sim. This announcement follows the submission of a report and recommendations by the National Wages Consultative Council, chaired by Tan Sri Zainal Rahim Seman. Upcoming Cabinet Review Minister Sim confirmed that his...

Kuala Lumpur has emerged as one of the top 100 global science and technology (S&T) clusters, according to the latest findings from the 2024 edition of the Global Innovation Index (GII), released by the World Intellectual Property Organization (WIPO). The report highlights Kuala Lumpur’s growing importance as a hub of innovation and technological development, placing it 93rd on the global list. The...

The ongoing trade tensions between the United States and China have led to a significant shift in the relocation of data centres to emerging markets like Malaysia. This trend is expected to have a ripple effect, positively impacting various sectors across the value chain, according to Moody's Ratings vice-president and senior credit officer, Nidhi Dhruv. Beneficial Impact Across Multiple...

Maybank Investment Bank Bhd (Maybank IB) has recently upgraded its outlook on Malaysia's property sector from "neutral" to "positive," highlighting the sector's strong fundamentals and the attractive valuations revealed by a recent sell-down. This upgrade signals a favorable investment environment, driven by resilient property sales and burgeoning interest in industrial properties. Resilient Property...

In a significant move to strengthen tax compliance across Klang Valley, the Inland Revenue Board (LHDN) and the Royal Malaysian Customs Department have launched Ops Metro 2024, a large-scale operation aimed at ensuring businesses adhere to tax regulations. The operation, announced by LHDN chief executive officer Datuk Dr. Abu Tariq Jamaluddin, will see over 1,000 officers from both agencies inspecting...

Tropicana Corporation Berhad, a prominent Malaysian property developer, has announced the disposal of a substantial 68.457-acre freehold land parcel in Johor Baru, Johor, to the Japanese multinational information technology service and consulting firm, NTT Data Group. The transaction, valued at RM383.13 million, is a strategic move by Tropicana to unlock the value of its land assets, providing the company...

The Johor government has endorsed the need for improved connectivity between Forest City and Singapore, proposing a direct link to attract more investors to the Special Financial Zone (SFZ) and the Johor-Singapore Special Economic Zone (JS-SEZ). State Trade Investment and Consumer Affairs Committee chairman Lee Ting Han emphasized the importance of seamless transportation to Singapore as a critical factor...

Even if the United States Federal Reserve (US Fed) proceeds with the anticipated interest rate cuts, Bank Negara Malaysia (BNM) is likely to maintain the Overnight Policy Rate (OPR) at 3% through the end of 2025, according to Maybank Investment Bank Bhd (Maybank IB). This forecast comes amid a strengthening ringgit and persistent domestic inflationary pressures. Fed Rate Cuts and BNM's OPR...

Malaysia’s total population has now reached 34.1 million, according to the Department of Statistics Malaysia (DOSM) in its Current Population Estimates 2024 released today. This represents a growth of 0.7 million people compared to the 33.4 million recorded for the same period last year. Population Growth and Composition Shifts While Malaysia's population has grown overall, the composition of...