Under Malaysia’s latest approved electricity generation plan, 37.81% of the nation’s installed electricity capacity in 2030 will be powered by renewable sources, said Natural Resources, Environment and Climate Change Minister Nik Nazmi Nik Ahmad.

This, he said in a written parliamentary reply on Thursday, is pursuant to the Power Development Plan (PDP) approved in the 2022 Planning and Implementation Committee for Electricity Supply and Tariff meeting held in February.

The committee holds meetings on an annual basis to determine the policy on the electricity sector’s fuel mix with the 20-year PDP.

As for the remaining electricity capacity in 2030, the PDP projects that 38.94% or 19,098MW will be generated with gas, while coal will still account for 23.25% (11,401MW). Renewable energy (RE) is expected to generate 18,545.05MW.

On behalf of our fellow member, JLL Property Services (M) Sdn Bhd, we would like to highlight several Budget 2024 proposals from the real estate point of view.

Budget 2024 was tabled in the Parliament on Friday, 13th October 2023 by Prime Minister and Minister of Finance, YAB Dato’ Seri Anwar bin Ibrahim. Based on the theme of “Reformasi Ekonomi, Memperkasakan Rakyat (Economic Reform, Empowering People)”, it will be the largest budget to-date, with an allocation of RM393.8B (approx. US$83.3B), surpassing Budget 2022's allocation of RM388.1B.

The 2024 budget is based on the MADANI Economic framework which is the main focus of the Unity Government in ensuring that the interests and needs of the people are taken into account in addition to driving the country's economic growth.

EUROCHAM Malaysia had the privilege of attending the Malaysian Dutch Business Council (MDBC) e-Invoicing event with Deloitte today.

As we align with the digitalisation goals set forth in the Twelfth Malaysia Plan, it's imperative to embrace the future of business operations. The government's phased mandatory implementation of the electronic invoicing system (e-invoicing) is a significant step in this direction, commencing from August next year for selected businesses and extending to all companies by 2025.

At this informative session, we delved into the intricacies of e-invoicing, covering essential topics such as an e-invoicing overview, the Malaysian e-invoicing model, deployment strategies, and lessons learned.

The Education Ministry (MOE) will intensify efforts to promote the fields of Science, Technology, Engineering, and Mathematics (STEM) and ensure that stakeholders understand that STEM studies can lead to bright careers.

Speaking at the Teacher Ambassador Award ceremony here on Wednesday night, its minister Fadhlina Sidek said there are students, especially those in Form Six, who have expressed concern about their career prospects if they opt for STEM courses.

“(It takes some) effort to talk to parents, which can be a bit challenging, to convince them that STEM has good career prospects.

“This is because parents tend to choose and determine the career choices and the future of their children, and there are constraints in convincing them to choose STEM as an option,” she said.

Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz has assured that there will be no changes in the prices of products in the industry sector when the sales and service tax (SST) is raised next year, but added that the ministry will continue to monitor the impact of the implementation on the sector.

"For any form of fiscal policy involving tax, there will always be something that the companies would have to incorporate as part of their business plan going forward.

"Whatever impact there is, that is why the prime minister excluded F&B (food and beverages sector) and also included the logistics sector. For the other sectors, we will see and monitor what transpires and what is the result of this decision," Tengku Zafrul told reporters at the sidelines of the Roundtable Dialogue discussing the New Industrial Master Plan 2030 (NIMP 2030) hosted by the Malaysian Industrial Development Finance Bhd (MIDF).

Tengku Zafrul said the government has a fiscal responsibility to increase its revenue, and that it is important for the industry to understand why Putrajaya is taking such a decision.

On behalf of our fellow bilateral Swedish Chamber of Commerce Malaysia (SwedCham), we would like to extend an invitation to our members to the upcoming Nordic Christmas Dinner & Dance.

Date: Saturday, 25 November 2023

Venue: Ritz-Carlton Kuala Lumpur