27/06/2025

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FRIDAY | JUNE 27, 2025

Short-term impact on oil prices from Israel-Iran conflict

DHL, Mida extend partnership to elevate M’sian logistics ecosystem KUALA LUMPUR: DHL has reaffirmed its longstanding partnership with the Malaysian Investment Development Authority (Mida) through the signing of a new memorandum of understanding. Under the renewed collaboration, all four DHL business divisions operating in Malaysia – DHL Express, DHL Supply Chain, DHL Global Forwarding, and DHL eCommerce – will work closely with Mida to strengthen the logistics and supply chain ecosystem, supporting Malaysia’s position as a leading hub for foreign investment. The latest MoU builds on a successful collaboration since 2023, where joint efforts with Mida’s global and local offices have yielded signi ficant investment outcomes. These span key priority sectors – including electrical and electronics, pharma ceutical, digital economy, aerospace, and chemicals – across eight states: Kedah, Penang, Perak, Johor, Malacca, Sabah, Sarawak and Selangor. Mida CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said,“Malaysia’s logistics sector has undergone a remarkable transformation, emerging as a powerhouse of innovation and techno logical advancement. We’re witnessing developments in digital technology and smart automation, from AI-powered route optimisation and real-time tracking to advanced warehouse robotics and autonomous delivery systems. “Through Mida’s proactive assistance and facilitation, we’ve created an ecosystem that nurtures these technological advancements and our renewed partnership with DHL represents a strategic alliance that will accelerate Malaysia’s journey towards becoming the region’s premier smart logistics hub.” DHL said in a statement it remains committed to elevating Malaysia’s profile among multinational corporations seeking to diversify their manufacturing and sourcing operations. With its strong presence in Malaysia and comprehensive end-to-end logistics and supply chain capabilities, DHL is well equipped to support foreign investors in enhancing supply chain resilience by leveraging Malaysia’s strategic location. Furthermore, DHL is strategically positioned to support Malaysia’s New Industrial Master Plan 2030 and its sustainable development targets. – Bernama KUALA LUMPUR: The entry of PricewaterhouseCoopers Malaysia Holdings Sdn Bhd (PwC Malaysia) into Tun Razak Exchange (TRX) as anchor tenant in a new building that is being developed positions Kuala Lumpur as a premier destination for global businesses. It also strengthens the 28.32 hectare TRX as an international financial centre, Finance Minister II Datuk Seri Amir Hamzah Azizan said. “Today’s groundbreaking ceremony

US$67 (RM283) per barrel after tensions eased and talks began. Meanwhile, a fragile ceasefire seemed to be holding for a second day yesterday. SME Bank launched a suite of strategic initiatives valued at RM211 million, reinforcing its commitment to advancing the government’s Madani Economic Framework and aligning with the bank’s mandate under Budget 2025. Focused on high-impact sectors such as technology, tourism, halal, and environment, social and gover nance, these initiatives also pro mote inclusivity by empowering B40 and asnaf entrepreneurs, rein forcing SME Bank’s role in building a resilient and future-ready MSME ecosystem. Amir Hamzah said the initiatives reflect the country’s future direction towards a more modern, sustainable, and competitive economy. In line with the Madani Economic Framework, Amir Hamzah, said Budget 2025 has provided extensive support for MSMEs. “This includes more than RM40 billion in the form of loans and guarantees, stamp duty exemptions to reduce the cost of financing access, and matching

world,” Amir Hamzah said. TRX City Sdn Bhd CEO Datuk Azmar Talib said the 250,000 square foot tower is being developed in response to rising demand for premium office space, with existing buildings in the district nearing full occupancy. TRX and PwC have signed a binding head of terms with TRX City to relocate its headquarters from KL Sentral to the new tower. “PwC is taking a 20-year lease on the new building,” Azmar said.– Bernama grants to support digitalisation and sustainable business practices.” He said the aim is to strengthen the competitiveness of MSMEs, while ensuring they remain relevant in a future economic landscape driven by technology and sustain ability agendas. “Therefore, for 2025, the govern ment has mandated SME Bank to roll out various initiatives with an allocation exceeding RM1 billion, including five new initiatives worth over RM200 million designed to support sustainable and inclusive growth for the MSME segment. “The launch of these strategic programmes by SME Bank today is to realise the government’s vision and aspiration to stimulate MSME driven growth, strengthen domestic economic resilience, and in turn help maintain investor confidence in Malaysia,” Amir Hamzah said. SME Bank acting group president and CEO Datuk Dr Mohammad Hardee Ibrahim shared initiatives, including MySMELady 2.0, Umbrella Ecosystem Financing, Dana Kelestarian Alam and Maju Usahawan Madani , which demon strate an approach to nation-build ing and a commitment to streng thening the national entrepre neurial landscape. “Additionally, we are also proud to roll out the fourth edition of the SME Bank iTekad Ishraf , a beyond financing initiative designed to equip the B40 and asnaf entre preneurs with the knowledge, skills and resources needed to sustain and grow their businesses,“ he said. Riding on this momentum, Mohammad Hardee said, the bank remains on track to achieve its RM3 billion approved financing target for this year, with continued emphasis on key strategic sectors, with RM2 billion already recorded as of May 2025. “These achievements reaffirm our sustained role in fostering MSME development, in alignment with the government’s Madani vision to build a more inclusive, resilient and future-ready Malaysia,” he said.

o Peace crucial for humanity and sustaining economic stability, Amir Hamzah says at launch of SME Bank’s initiatives totalling RM211 million under Budget 2025

Ű BY HAYATUN RAZAK sunbiz@thesundaily.com

“Oil prices rose sharply when the conflict occurred. However, with the onset of peace talks, prices have declined. For now, the overall impact appears to be short-term,” he told reporters at the Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank) 2025 Budget Initiative Launch yesterday. Amir Hamzah emphasised that peace is crucial not only for humanity but also for sustaining economic stability. “We hope that efforts towards peace talks will continue, and Malaysia will remain steadfast in supporting all initiatives to main tain peace in the region,” he said. Oil prices briefly jumped by about 7% earlier this month due to fears that the war between Israel and Iran could disrupt supply. But prices have since fallen back to around

KUALA LUMPUR: The Israel-Iran conflict is expected to have only a short-term impact on crude oil prices, according to Minister of Finance II Datuk Seri Amir Hamzah Azizan. He said that while oil prices surged sharply during renewed hostilities, oil prices quickly retreated as signs of peace talks and ceasefire efforts emerged between the two countries. Amir Hamzah highlighted that despite initial volatility, market stability returned as fears of pro longed conflict and supply disruption subsided, reinforcing the govern ment’s confidence in managing the situation amid ongoing global economic uncertainty.

From left: Mohammad Hardee,

Entrepreneur Development and Cooperatives Ministeer Datuk Ewon Benedick,

Amir Hamzah, Entrepreneur Development

and Cooperatives Deputy Minister

Datuk Seri Ramanan

Ramakrishnan and SME Bank chairman Datuk Muslim Hussain at the launch.

‘PwC entry into TRX bodes well for KL as international financial centre’

20,000 knowledge workers. Global leaders such as HSBC, Prudential, Huawei, Apple and Lendlease have all recognised the value of operating here, which is a clear testament to TRX’s growing global appeal, he said. “Let’s use TRX’s mandate as Malaysia’s international financial centre to complement Malaysia’s existing and robust pro-business policies, further strengthening our position as one of the best places to do business in the

opportunities and enhance regional integration across Asean and beyond, Amir Hamzah said. “Realising Kuala Lumpur’s full potential as a competitive international financial centre demands full alignment and coordinated execution across all arms of government. So we continue to strengthen KL’s centrality and competitiveness,” he said. Amir Hamzah said more than RM8 billion of investments have been realised in TRX, which has over

is more than just a success for TRX, it is a win for Kuala Lumpur,” he said in a speech delivered by Finance Ministry deputy secretary-general (investment) Datuk Shahrazat Ahmad at the groundbreaking ceremony for the 39 storey building, which will be TRX’s tenth office development. Once completed in the second quarter of 2029, PwC will be the anchor tenant. PwC’s presence in the district is expected to create high-quality job