Kerjasama lebih erat antara MINTRED dan MITI tarik pelabur tenaga hijau ke Sarawak
KUCHING, 25 Mac: Dalam usaha menarik lebih banyak pelaburan ke Sarawak, Kementerian Perdagangan Antarabangsa dan Pelaburan (MINTRED) Sarawak menjalinkan kerjasama lebih erat dengan Kementerian Pelaburan, Perdagangan dan Industri (MITI). Timbalan Premier Sarawak Datuk Amar Awang Tengah Ali Hasan berkata perbincangan bersama Menteri Pelaburan, Perdagangan dan Industri, Tengku Datuk Seri Zafrul Tengku Abdul Aziz hari ini merangkumi untuk menjadikan Sarawak sebagai hab tenaga hijau dan diperbaharui di rantau ini. “Ia menjadi keperluan dalam menarik pelaburan yang betul terutamanya pemerangkapan, penggunaan dan penyimpanan karbon (CCUS) dan hidrogen hijau,” katanya dalam kenyataan. Awang Tengah yang juga Menteri Perdagangan Antarabangsa dan Pelaburan Sarawak berkata, perlu ada beberapa insentif disediakan kepada pelabur, malah dasar yang kukuh untuk memudahkan pertumbuhan industri ini. Perbincangan tersebut turut disertai Timbalan Menteri Perdagangan Antarabangsa dan Pelaburan Sarawak, Datuk Dr Malcom Mussen Lamoh, Penasihat MINTRED Dato Sri Mohd Naroden Majais, Setiausaha Tetap MINTRED, Dzulkarnain Misron dan Ketua Pegawai Eksekutif Lembaga Pembangunan Koridor Wilayah (RECODA), Datu Ismawi Ismuni dan Ketua Pegawai Eksekutif InvestSarawak, Timothy Ong – TVS
Dr Sim: Govt studying proposal to build railway linking Bintulu Port to Nusantara
KUCHING (March 24): The government is studying a proposal to build a railway linking Bintulu Port to the new capital of Indonesia, Nusantara, said Deputy Premier Datuk Amar Dr Sim Kui Hian. He said Bintulu Port’s strategic location in Borneo could facilitate the movement of goods from Sarawak to Indonesia using a shorter travel distance compared to shipping routes. “Can you imagine if the port does not belong to us (the state government) and we want to potentially build a railway line all the way to the new capital of Indonesia?” he said during an event distributing grants to 45 non-governmental organisations (NGO) at Sarawak United Peoples’ Party (SUPP) headquarters here today. Noting that the distance between Bintulu Port and Nusantara is only a few hundred kilometres, Dr Sim said a high-speed rail from China could cover the distance within three hours compared to ships which would take around two days. On Friday, a Memorandum of Understanding (MoU) was signed between federal Transport Minister Anthony Loke and state Deputy Premier Datuk Amar Douglas Uggah Embas to the facilitate the change of status of Bintulu Port from being a federal port to a state port by this year. The MoU signing, which was witnessed by Prime Minister Datuk Seri Anwar Ibrahim and Sarawak Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg, will also see the entire operation of Bintulu Port handed over to the Sarawak government by 2025. On another note, Dr Sim remarked that Sarawak has entered into a phase of nation building and the state government led by Abang Johari has taken the initiatives to take over Bintulu Port, MASwings and acquiring significant stakes in Affin Bank. He said the state government will also be providing free tertiary education at state-owned universities to about 20,000 Sarawakian students a year starting 2026 with a cost of about RM30,000 per year for each student. The deputy premier further highlighted that Sarawak aspires to achieve a gross domestic product (GDP) of RM282 billion in the next six years and the state has been counted as the fifth largest producer of gas in the world. Dr Sim also pointed out Sarawak is fast approaching towards an ageing society with the lowest birthrate in the country.
Singapore leads Asian peers in attracting foreign investments: Report
SINGAPORE – Singapore is the most attractive country in the region for foreign investments, but it falls behind some advanced economies in terms of environmentally friendly and socially inclusive growth, according to a new index. The Milken Institute’s Global Opportunity Index ranked Singapore first among its Asian neighbours in 2023, and 14th among the 130 countries studied globally – up four places from 2022. Hong Kong at 15th and Japan at one spot below were the other two Asian economies in the top 20 globally. Denmark came in first globally, with Sweden dropping to second, followed by Finland in third. The United States moved up one spot to fourth. Dr Maggie Switek, the Milken Institute’s senior director and the report’s lead author, told The Straits Times that Singapore’s climb up the league table was due to relatively strong economic growth. Its high position was also driven mainly by its strength in “business perception”, which measures the ease of doing business and the regulatory framework facilitating contract enforcement and dispute resolution. It also fared well in the “institutional framework” category, which assesses the extent to which a country’s institutions safeguard the rights of investors and the safety of their assets. The country led the way in the subcategories of investor rights and transparency. “It means that overall investment conditions remain strong, which is also reflected in Singapore’s capital inflows. The strength of investor rights coupled with its relatively low business constraints mean that investors should feel comfortable operating in Singapore,” Dr Switek said. Foreign direct investment (FDI) inflows to Singapore reached a record high of US$141.2 billion (S$189 billion) in 2022, up from US$131.1 billion in 2021, noted a United Nations report. This made the country the third-largest FDI recipient worldwide after the US and China. Singapore also accounted for almost two-thirds of flows to Asean countries. “However, the country could do better on its indicators related to environmentally friendly and socially inclusive growth, which are reflected in its relatively low ranking in ‘future environment for growth’,” said Dr Switek. Singapore scored below the average of advanced economies in the “economic fundamentals” category, which captured macroeconomic performance, workforce talent and efforts to create a resilient and sustainable economy and society. This was largely due to its relatively weak performance in the “future environment for growth” sub-category, which includes measures such as air pollution and the proportion of women in government. Dr Switek said Singapore also ranked below some of its regional competitors such as Japan and South Korea in this area. The Milken index is based on 100 indicators classified into five categories – business perception; economic fundamentals; financial services; institutional framework; and international standards and policy. The variables within the five categories measure all angles of a country’s investment potential, including economic openness and performance, business constraints and workforce talent and diversity. Data sources include the World Bank, the International Monetary Fund and the United Nations. Malaysia offered the best investment conditions among emerging and developing Asian economies. It ranked 27th globally, ahead of Thailand at 37th and 39th-placed China, which lost some appeal to investors due to rising geopolitical tensions with the US. The report noted a continued shift in investor sentiment in favour of Latin American countries as capital inflows to China turned negative in 2022 for the first time since 2015. Since then, Latin America has experienced a surge in investment inflows, with Mexico and Brazil jointly accounting for more than 60 per cent of foreign direct investment in the region. However, it noted a strong momentum behind China’s innovation economy that could rival the US and other advanced economies. The mainland surpassed the US in the annual number of scientific publications for the first time in 2019, and since then the gap has widened, it said.
Collaborate with Transport Ministry to encourage use of rivers to transport bulky goods, Lee to SRB
KUCHING (March 16): The Sarawak Rivers Board (SRB) is called to work alongside the state Transport Ministry to encourage the use of rivers for transportation of bulky goods instead of relying on roads, said its minister Dato Sri Lee Kim Shin. “If more heavy cargo can be transported via rivers, there will be less damage on our roads and this will also reduce traffic congestion and accidents,” he said. He said this during a courtesy call paid by newly-appointed SRB chairman Safiee Ahmad at Bangunan Baitulmakmur on Wednesday. Safiee was appointed to the post effective Jan 1 this year. Meanwhile, in a statement by the ministry, the courtesy call was to seek Lee’s advice on the ministry’s present and future plans, as well as the directions set for the board. During the meeting, Lee emphasised the ministry’s vision to develop and modernise Sarawak’s navigable commercial river system as part of the transportation and logistics network. He also requested Safiee work with SRB’s management to improve its organisational structure for more efficient and effective discharging of duties, responsibilities and service delivery. Also present were Deputy Minister of Transport (Riverine and Maritime) Datuk Henry Harry Jinep; the ministry’s permanent secretaries Dato Alice Jawan Empaling and Selamat Jati Yanjah; and ministry administrative officer Teo Swee Ann. Accompanying Safiee was SRB controller Lt Col (Rtd) Ding Tiew Wong.
Sumitomo eyes enhanced participation in S’wak’s green projects
SINGAPORE: Sumitomo Corporation (Sumitomo) has expressed its interest to have greater involvement in Sarawak’s green projects. Among the projects are biomass bamboo, renewal energy, carbon capture, utilisation and storage (CCUS), green metals, chemical and derivates. Deputy Premier Datuk Amar Awang Tengah Ali Hasan welcomes Sumitomo to explore and invest in the bamboo plantation project. He also invited Sumitomo to look into the new economic sectors including the green and digital economy. Earlier today, Awang Tengah, who is also Minister of International Trade, Industry and Investment, met with Sumitomo Corporation Asia and Oceania Group chief executive officer (CEO) Keigo Shiomi to discuss more collaboration opportunities. Sumitomo has several collaborations in Sarawak and is currently developing a hydrogen related production project in Bintulu. Meanwhile, also in attendance during the meeting were Sarawak Timber Industry Development Corporation (STIDC) general manager Zainal Abidin Abdullah, STIDC advisor Datuk Hashim Bojet, InvestSarawak CEO Timothy Ong, and PUSAKA Capital Sdn Bhd CEO Mohamad Nor Topek Julaihi.
Sarawak welcomes Singaporean investors
KUCHING: The Sarawak government has consulted with several Singaporean investors to explore investment opportunities especially in renewable energy, green energy and digital economy projects in the state. Deputy Premier, Datuk Amar Awang Tengah Ali Hasan who was in Singapore yesterday engaged with representatives from UOB Group, Eastspring Investments, TWO Family Office and Chemsains Konsultant Sdn Bhd. Awang Tengah welcomes the interest from these companies and expressed his appreciation towards their interests in Sarawak, in line with the Post Covid-19 Development Strategy 2030 (PCDS 2030) for the state to be a thriving society driven by data and innovation. During his visit there, he also met with Kuok Meng Wei who is representing Kuok Group, one of Singapore’s largest conglomerates to discuss potentials in green and renewable energy investment projects in Sarawak. For the record, Kuok is also the chief executive officer (CEO) and managing director of K2 Strategic, an international developer, owner and operator of hyper-scale digital infrastructure assets in the technology sector. Also in attendance were Sarawak Timber Industry Development Corporation (STIDC) general manager, Zainal Abidin Abdullah, STIDC’s advisor, Datuk Hashim Bojet, Invest Sarawak chief executive officer, Timothy Ong and PUSAKA Capital Sdn Bhd chief operating officer, Mohamad Nor Topek Julaihi.
The Netherlands announces subsidies for €998,330,000 for production of renewable hydrogen with a electrolysers
The Netherlands announces subsidies for €998,330,000 for production of renewable hydrogen with a electrolysers. Do you want to produce renewable hydrogen with an electrolyser? And do you have plans for this? Then you will soon be able to apply for a subsidy via the OWE scheme again. To help you prepare your application, we provide you with an overview of the changes compared to the OWE in 2023. What’s different in 2024? Requirements for the installation 🔥 What about we co-host a webinar? Let’s educate, captivate, and convert the hydrogen economy! Hydrogen Central is the global go-to online magazine for the hydrogen economy, we can help you host impactful webinars that become a global reference on your topic and are an evergreen source of leads. Click here to request more details Ranking of your application Your maximum subsidy amount Feasibility of your project New mandatory appendix: supply of renewable electricity purchase Realizing your installation
Abang Rahmat Yusuf is CEO of Sarawak Sovereign Wealth Future Fund
KUCHING: The Board of Guardians of the Sarawak Sovereign Wealth Future Fund has appointed Abang Rahmat Yusuf as the Chief Executive Officer (CEO), effective January 29 this year. The announcement was made after the Board meeting yesterday, according to a press statement. Abang Rahmat, 48, was formerly the head of Investment Banking (Malaysia) at CLSA Securities from 2019 to 2024. During his tenure there, he led the fund raising exercises including initial public offerings (IPOs) and placements for institutional and corporate clients. In the beginning of his corporate career, he was a director in the Investments arm at Khazanah Nasional in 2004 until 2019, during which he established and headed the Khazanah Turkey Regional Office in Istanbul covering Turkey, Middle East and North Africa (MENA) and Sub-Saharan Africa. He was also the Overseeing Director for Financial Institutions Group (FIG), which represented 20 per cent of Khazanah’s portfolio. He holds a Master in Public Administration from Harvard University.
Bintulu’s Samalaju Industrial Park nets RM111.73b approved investment since 2008 launch, says Sarawak premier
BINTULU, March 5 — Premier Tan Sri Abang Johari Openg said last night that Samalaju Industrial Park, which was launched by the then prime minister Tun Abdul Ahmad Badawi in 2008, has attracted an approved investment of RM111.73 billion to date. He said RM12.07 billion out of the total has gone towards commercial production, with direct employment for 9,293 workers. “The potential is there. We have a list of companies which are going to invest in the park, with an anticipated investment of RM15.66 billion,” he said during the 10th anniversary of Sakura Ferroalloys Sdn Bhd. He said there are also a few projects that are being enhanced, one of which is the 70km-long Bintulu-Samalaju gas pipeline that is scheduled for completion at the end of next year. “The operations of these projects will increase the distribution of gas supply to users in Samalaju Industrial Park including the combined cycle gas turbine which is currently under construction. “In other words, we are upgrading the gas supply as well as power to Samalaju Industrial Park,” he said. In his speech earlier, Sakura Ferroalloys Sdn Bhd chairman BH (Tiaan) van Aswegen said the company is in the process of constructing a new sinter plant at the site. “This US$30 million plant will be commissioned in the second half of 2024 and will contribute to further improve plant efficiencies and lower the cost base,” he said. He said a feasibility study to produce a value-added refined ferro-manganese product will be concluded by mid-year. “If the study results are positive, this might lead to a further investment of around US$100 million at Sakura,” he said, adding that studies to produce by-products from current waste streams, such as slag, fumes and gas, are being pursued.
EU official praises green energy push by Malaysia’s Sarawak
Bloc commits to mobilize $10.8bn for ASEAN sustainable projects Six major ports function as crucial transhipment hubs that play integral roles in the state’s supply chain by NURUL SUHAIDI KUCHING, Malaysia — Sarawak, a resource-rich state in Malaysia with an ambitioussustainable energy agenda, is drawing interest from the European Union, but the 27-nation group’s top official in the country says the bloc needs new cooperativemechanisms for its companies to take advantage of the opportunity. “We have seen the opportunities and the vision of the state, bringing in hydrogen,sustainable transition to green energy and energy transition,” Michalis Rokas, the EUambassador to Malaysia, said in a speech at the EU-Malaysia Business Day 2024 eventheld on Feb. 14 in Kuching, the capital of Sarawak, which is located on the island ofBorneo.Malaysia is the EU’s third largest trading partner in ASEAN, while the EU is the fourthlargest destination for Malaysian exports. The EU is also the second largest source offoreign direct investment for Malaysia at 25.2 billion euros in 2022. Still, Rokas acknowledged the limited presence of European businesses in Sarawak. Tobridge this gap, he proposed a “blending” model whereby European companies wouldtake the lead in strategic investments, while the EU would provide financial supportthrough grants, guarantees and concessional loans through the European InvestmentBank (EIB). This approach aims to de-risk projects and attract private capital,accelerating Sarawak’s green ambitions.Rokas also said the potential partnership aligns with the EU’s Indo-Pacific Strategy,which emphasizes fostering partnerships with regional countries on issues like climatechange and clean energy. Sarawak’s focus on developing hydrogen production,sustainable aviation fuel, and transitioning away from fossil fuels resonates with theEU’s own sustainability goals. The EIB has been active in Southeast Asia for over three decades, financing projects invarious sectors such as energy, transport, climate action and infrastructure. In 2022, itopened a regional representative office in Jakarta to further strengthen its engagementin Indonesia, Vietnam, Cambodia, Laos and the Philippines. Nikkei Asia understandsthat the bank has been attempting to operate in Malaysia since 2020. Its application ispending government approval for a framework agreement.Rokas also said during his speech that the EU and its 15 member states with a presencein Malaysia will be working on a plan to propose a Global Gateway flagship project inSarawak.Meanwhile, the state’s deputy premier Awang Tengah Ali Hassan welcomed thepotential partnership, highlighting the existing trade relationship between Sarawak andthe EU, which stood at 2.1 billion euros in 2022. He emphasized the state’s commitmentto renewable energy, with a target of generating at least 60% of its power from cleansources by 2030. Sarawak, abundant in oil, gas and timber, is the only Malaysian state with more than70% renewables in its energy mix, mainly from hydroelectric dams. It has threeoperational large-scale hydroelectric dams, with a fourth, Baleh, under construction.The total installed capacity of the operational large-scale hydroelectric dams in Sarawakis 3,452 megawatts. Once Baleh is completed, the total capacity will increase to 4,737MW.Last year, Sarawak announced plans to sell one gigawatt of renewable energy toSingapore via a 700km undersea cable by 2032.“We seek to establish a stronger connection between Sarawak and Europe,” Awang saidat the business event. “I hope this will serve as a venue to forming new networks andposing new paths which yield fruitful outcomes towards an inclusive economy.” Headded that Sarawak’s green push has led to collaborations with global players fromSouth Korea and Japan to develop the hydrogen industry in the state.Sarawak is already embarking on two major hydrogen production projects — withJapan’s Eneos and Sumitomo Corp. on one called H2ornbill, and South Korea’sSamsung Engineering, Posco and Lotte Chemical on another dubbed H2biscus — in theport town of Bintulu, where one of the world’s largest LNG complexes is located.The Sarawak state legislative assembly building and Sarawak River in Kuching, Malaysia. (Photo by Norman Goh)4/2/24, 2:01 PM EU official praises green energy push by Malaysia’s Sarawak – Nikkei Asiahttps://asia.nikkei.com/Business/Energy/EU-official-praises-green-energy-push-by-Malaysia-s-Sarawak 5/5Get our Asia daily briefing newslettersnewsletter@nikkeiasia.com RegisterThe two projects will have the potential to produce up to 238,000 tonnes of greenhydrogen annually, generating an estimated 2.4 billion ringgit to Sarawak’s grossdomestic product by 2030, according to Abang Johari, the state’s premier during hisannual new year address in January.Sarawak also boasts, according to the premier, ASEAN’s first integrated hydrogenproduction plant and refueling station, powering hydrogen buses in Kuching since 2018and a tram on a test basis beginning last year.Also, a third hyrdogen project is based in Rembus, near Kuching, for domestic use andis expected to be fully operational in 2025, according to state-linked company SEDCEnergy and the Sarawak Economic Planning Unit. On Monday, SEDC Energy signed anagreement with Gentari, a subsidiary Malaysia’s state energy conglomerate Petronas todevelop the Sarawak H2 Hub in Bintulu, according to a statement by Gentari.Total hydrogen industry investment in Sarawak is estimated to be worth at $4.2 billion,an SEDC Energy spokesperson told Nikkei Asia.Hydrogen produced in Sarawak is known as green hydrogen — produced via electrolysisand powered by renewable electricity from hydroelectric dams. Additionally, the state ispioneering the production of crude algae oil for sustainable aviation fuel usingmicroalgae.Timothy Ong, the chief executive of the newly established state investment promotionagency InvestSarawak said at a panel session that Sarawak is not only in competitionwith other regions of Malaysia, but with countries like Vietnam, Indonesia, Thailandand Singapore as well.“Although a lot of people come to Sarawak for renewable energy, I can comfortably tellyou today that we have more demand than available supply when it comes to renewableenergy,” Ong said. He added it is important for the state to understand that investmentbenefits must trickle down to the people of Sarawak and companies and not just remainin the hands of foreign or domestic investors.
