01/07/2025

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TUESDAY | JULY 1, 2025

Major boost for Malaysia’s regional EV hub ambitions o Shenzhen Senior Technology Material subsidiary’s launch

US$119.59b official reserve assets at end of May: BNM KUALA LUMPUR: Malaysia’s official reserve assets amounted to US$119.59 billion (RM503.77 billion) as at end-May 2025, while other foreign currency assets stood at US$955.2 million, according to Bank Negara Malaysia (BNM). The central bank said the detailed breakdown of international reserves provides forward-looking information on the size, composition and usability of reserves and other foreign currency assets, in accordance with the International Monetary Fund’s Special Data Dissemi nation Standard (IMF SDDS) format. It also provides guidance on the expected and potential future inflows and outflows of foreign exchange of the federal government and BNM over the next 12 month period. “Overall, the detailed breakdown of international reserves under the IMF SDDS format indicates that as at end-May 2025, Malaysia’s international reserves remain usable,” it said in a statement yesterday. BNM stated that for the next 12 months, the predetermined short-term outflows of foreign currency loans, securities and deposits, which include, among others, the scheduled repayment of external bor rowings by the government and the maturity of foreign currency Bank Negara interbank bills, amount to US$13.43 billion. “The net short forward positions amounted to US$24.18 billion, reflecting the management of ringgit liquidity in the money market,” it added. In line with the practice adopted since April 2006, the data excludes projected foreign currency inflows arising from interest income and the drawdown of project loans, BNM said, adding that the projected foreign currency inflows amount to US$2.63 billion in the next 12 months. The central bank said the only contingent short-term net drain on foreign currency assets is government guarantees of foreign currency debt due within one year, amounting to US$419.0 million. “There are no foreign currency loans with embedded options, and no undrawn, unconditional credit lines provided by or to other central banks, international organi sations, banks, and other financial insti tutions. “BNM also does not engage in foreign currency options vis-à-vis the ringgit,” it said. – Bernama

PETALING JAYA: Malaysia has taken a major leap forward in its ambitions to become Southeast Asia’s leading electric vehicle (EV) with the official launch of INV New Material Technology Sdn Bhd’s cutting-edge lithium ion battery separator facility at Penang Technology Park@Bertam, Kepala Batas. The RM3.2 billion investment establishes Malaysia’s first commercial facility of its kind, positioning the country as the region’s largest producer of battery separators. The ceremony was officiated by Penang Chief Minister Chow Kon Yeow on Friday. The newly launched facility will produce 1.3 billion square metres of wet-processed and coated lithium-ion separators – an essential component in EV battery manu facturing. The project has generated over 2,000 job opportunities, including more than 550 high skilled technical roles with wages exceeding RM3,000 per month. It serves as a launchpad for technology and knowledge transfer, equipping Malaysian talent with practical exposure to advanced equipment, structured training programmes and collaboration with global experts. This holistic approach significantly upskills the workforce in advanced materials and engineering plastics, cultivating a future ready talent pipeline vital for Malaysia’s long term growth in the EV and high-tech sectors. Malaysian Investment Development Authority CEO Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said, “The launch of INV New Material Technology’s facility marks a transformative step in Malaysia’s electric vehicle journey. Anchored in the New Industrial Master Plan 2030 and the Chemical Industry Roadmap 2030, this investment bridges a critical gap in our EV ecosystem and embeds advanced materials into our supply chain. It sets a new standard for high-tech manufacturing, while strategically catalysing broader industrial growth, and attracting more global and local players to strengthen Malaysia’s position in the global EV value chain.” INV New Material Technology (M) Sdn Bhd CEO Liu Rui said they are honoured to be part of Malaysia’s journey in building a robust, forward-looking electric vehicle eco system. “This facility is not just an investment in

of cutting-edge facility in Penang positions country as largest producer of battery separators in Southeast Asia

Chow (right) and Shenzhen Senior Technology Material Co Ltd chairman Chen Xiufeng at the launch of INV New Material Technology’s facility at Penang Technology Park @ Bertam on Friday. – BERNAMAPIC

as a model for responsible, future-forward manufacturing– a clear signal of Malaysia’s readiness to lead the next wave of industrial transformation. With this milestone, Malaysia further cements its position as a dynamic and trusted destination for high-value EV manu facturing and next-generation technology investments. INV New Material Technology, established in August 2023, is the Malaysian subsidiary of Shenzhen Senior Technology Material Co Ltd. The Penang plant is the company’s first foray into manufacturing in Malaysia.

infrastructure, but a long-term commitment to sustainability, innovation, and talent development. Malaysia offers the strategic advantages, talent pool, and government support we need to make this vision a reality, and we are proud to call it home to our first facility in the Asean region.” INV’s plant also sets a benchmark in Industry 4.0 adoption. The facility integrates advanced automation, smart manufacturing systems, and digital technologies to maximise operational efficiency, enhance precision, and promote sustainable practices. It stands

Adopt AI to meet ESG goals and thrive in future economy, SMEs told KUALA LUMPUR: Malaysian small and medium enterprises need to embrace digital tech nology, especially artificial intelli gence (AI), to meet the environ mental, social and governance (ESG) expectations and thrive in the future economy, said Digital Minister Gobind Singh Deo ( pic ). “SMEs make up a large portion of businesses in our country, about 97% of the entire national economy, so they play a crucial role in helping to boost the nation’s digital economy. Malaysia (ESGAM) and iForte Intelligence Sdn Bhd that provides an integrated digital eco system supported by an Al virtual assistant to help businesses navigate the ESG value chain. In a statement, ESGAM said the platform offers ESG learning and talent development, digital assessment tools to identify ESG gaps and a sector-specific marketplace that con nects businesses with verified partners including ESG consultants, trainers, auditors and solution providers. financing and grants hub links businesses with government assistance schemes and green loan facilities, catalysing ESG growth and unlocking new investment opportunities,” it said. Meanwhile, ESGAM honorary adviser and strategic alliance chair Eric Chong said the platform is expected to reach to 1.2 million SMEs in Malaysia through their collaboration with MDEC, National Tech Association of Malaysia, SME Association of Malaysia and Malaysian CSO-SDG Alliance.

“I hope that the collaboration with Malaysia Digital Economy Corporation (MDEC) and the Ministry of Digital will support our efforts to raise awareness among all SMEs about the importance of ESG in the coming years,” he said after launching ESGAMConnect here

He said his ministry aims to build an ecosystem that enables the digital transformation of the country, one of which is through

He said the platform, which is currently in its first phase, will be improved based on customer feedback and is expected to be enhanced in its second phase by the third or fourth quarter of this year. – Bernama

“It also supports ESG reporting and audit readiness, provides referrals to accreditation bodies and recommends relevant carbon credit platforms and markets. “In addition, ESGAMConnect’s dedicated

yesterday. ESGAMConnect is an Al-powered ESG platform developed by the ESG Association of

the initiative launched yesterday – the ESGAMConnect platform, which is aimed at helping SMEs achieve their ESG targets.