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KUALA LUMPUR : UDA Holdings Bhd has announced the appointment of Johari Shukri Jamil as its new president and chief executive officer, effective immediately. Johari brings over two decades of experience in real estate and corporate leadership, having previously served as managing director of Pasdec Holdings Bhd. In a statement issued on Friday, UDA described Johari as a proven leader in transformation and value creation, positioning him to steer the company into its next phase of growth. “Johari is expected to inject ideas and innovations through new dimensions, methods and approaches while prioritising the original objective of UDA’s establishment to fulfil the Bumiputera social and economic development agenda,” said UDA chairman Tan Sri Mohd Annuar Zaini. Aged 53, Johari was formerly the CEO of Hektar Real Estate Investment Trust, where he led the company’s post-pandemic return to profitability. He has also held senior positions including executive vice-president of business development and transformation at Iskandar Investment Bhd, group COO of EA Technique (M) Bhd, and CEO of Tanjung Langsat Port Sdn Bhd. UDA Holdings, originally established in 1971 as the Urban Development Authority, operates under the purview of the Ministry of Entrepreneur and Cooperative Development (Kuskop). The company was listed on the Kuala Lumpur Stock Exchange in 1999 before its delisting in 2007, becoming a wholly-owned subsidiary of Khazanah Nasional Bhd. UDA was subsequently transferred to the Ministry of Finance in 2008. –The Edge Malaysia

KUALA LUMPUR, April 29 – The Ministry of Investment, Trade and Industry (MITI) has appointed its Deputy Secretary-General (Trade), Mastura Ahmad Mustafa, as Malaysia’s chief negotiator for upcoming formal tariff discussions with the United States. According to MITI Minister Tengku Datuk Seri Zafrul Abdul Aziz, the US has appointed one of its assistant trade representatives to lead its side of the negotiations. Both parties have agreed to begin formal talks once approval is granted by Malaysia’s Cabinet. “We are now waiting for Cabinet approval before proceeding. The US side has agreed to engage, and both the US Trade Representative (USTR) and the Secretary of Commerce are eager to move forward,” said Tengku Zafrul at MITI’s open house event. Key areas of negotiation include tariff reductions, easing of non-tariff barriers — especially in the agriculture sector — and addressing the current US$25 billion trade surplus Malaysia maintains with the US. The minister highlighted that Malaysia has reduced its trade surplus with the US from over US$40 billion to the current level over the past four years. Earlier in April, the US implemented increased tariffs of 24% on imports from around 60 countries, including Malaysia. However, a 90-day pause was granted to allow for trade negotiations. Tengku Zafrul led a Malaysian delegation to Washington on April 24 to meet with US Secretary of Commerce Howard Lutnick and USTR Jamieson Greer. The outcomes of these initial discussions will be reviewed at the National Geoeconomic Command Centre (NGCC) meeting chaired by the Prime Minister. The minister also noted that both sides have agreed to expand discussions to cover economic security matters, including technology safeguards and intellectual property enforcement. The US has expressed concerns over the potential for sensitive technology produced or developed in Malaysia to fall into undesirable hands. A proposed technology safeguard agreement is among the measures being considered. On the recent US tariff actions against some Malaysian and Chinese solar panel exporters, Tengku Zafrul clarified that these apply only to non-compliant firms. “We assisted the companies in presenting their defence, but some explanations were not accepted. It is now up to the affected firms to decide whether to continue exporting to the US or revise their strategies,” he said. He also confirmed that Malaysia has not requested an extension of the 90-day pause and intends to work within the current timeframe. –Bernama

KUALA LUMPUR: Bank Pembangunan Malaysia Bhd (BPMB) has completed its acquisition of Export-Import Bank of Malaysia Bhd (Exim Bank) and Small Medium Enterprise Development Bank Malaysia Bhd (SME Bank), formalising the merger of the three government-linked development financial institutions. The acquisition, based on the net tangible assets of Exim Bank and SME Bank as of 31 December 2023, aligns with the government’s broader strategy to consolidate development finance institutions under the Malaysia Madani Economic Framework and other national policy blueprints. With a combined workforce of over 2,000, the newly consolidated BPMB group aims to deliver RM8.3 billion in impact capital this year. The group will continue supporting key development pillars including SME financing, Bumiputera entrepreneurship, cross-border trade, and sustainability-led initiatives. BPMB said the integration is expected to generate revenue and cost synergies over time while preserving jobs and enhancing capacity across the ecosystem. The move follows Prime Minister Datuk Seri Anwar Ibrahim’s 2024 Budget announcement to restructure DFIs for greater national development impact.–BERNAMA