TERAJU Needs To Intensify Efforts To Strengthen Bumiputera Companies In Johor

JOHOR BAHRU, Nov 3 (Bernama) -- The Bumiputera Agenda Steering Unit (TERAJU) needs to intensify efforts to assist Bumiputera companies in Johor to enhance their business capabilities in seizing economic opportunities, especially following the development of the Johor-Singapore Special Economic Zone (JS-SEZ).

Economy Minister Akmal Nasrullah Mohd Nasir said that the support should not only encompass financing aspects but also guidance and efforts to pave the way for Bumiputera companies to expand their businesses until they are capable of penetrating the stock market.

He said initiatives like the 'queen bee' aimed at attracting strategic investments need to be followed by efforts to ensure local entrepreneurs, including Bumiputera, also play a role in the supply chain and services.

"While initiatives such as the 'queen bee' model are effective in attracting strategic investments, we must organise and ensure that local entrepreneurs, including Bumiputera, are able to play a role within the existing supply chains or service sectors," he told reporters after attending the TERAJU Aspirasi Business Symposium 2026 at the DoubleTree Hotel here today.

Also present was TERAJU chief executive officer Junady Nawawi.

Commenting further on the JS-SEZ, Akmal said the Johor-Singapore Cooperation Ministerial Committee (JSCMC) meeting held in Singapore yesterday discussed efforts by both governments to strengthen cooperation in developing the potential of the special economic zone.

Akmal, who co-chaired the meeting with Singapore National Development Minister Chee Hong Tat, said both parties agreed to continue highlighting the strategic potential of JS-SEZ through closer bilateral cooperation and planning for the next year.

He said the JS-SEZ master plan is scheduled to be launched at the Leaders' Retreat, while the Malaysian government also highlighted several matters related to the special economic zone through Budget 2025.

According to him, among the highlighted investment potentials is the development of the Nexus Sedenak industrial area, which has the potential to attract investments worth RM12 billion and create job opportunities.

He said that Johor's economic growth also showed positive development, recording eight per cent last year compared to around four to 4.7 per cent previously, thus surpassing the national economic growth average.

Meanwhile, through the Bumiputera Economic Transformation Plan 2035 (PuTERA35), the government wants more Bumiputera entrepreneurs in Johor to grow from small enterprises to medium-sized companies before becoming leaders in their respective fields.

"The potential in Johor is good and vast, and at our level, we also place our hopes on TERAJU to intensify support efforts for our Bumiputera companies in Johor. This does not only include funding issues, but also guidance issues, and issues to pave the way for them to scale their business potential with the aim of being able to enter the open stock market," he also said.

-- BERNAMA