{
  "id": 17355721,
  "title": "Sokongan pembiayaan kukuh penting kembangkan sektor bunkering",
  "url": "https://urgent.news/2026/10/31/sokongan-pembiayaan-kukuh-penting-kembangkan-sektor-bunkering-17355721",
  "topic": "world",
  "section": "World",
  "published": "2026-10-31T05:40:00.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today",
    "url": "https://www.freemalaysiatoday.com/category/bahasa/tempatan/2026/10/31/sokongan-pembiayaan-kukuh-penting-kembangkan-sektor-bunkering"
  },
  "original_language": "en",
  "account": "KUALA LUMPUR: Malaysia's maritime industry requires stronger financial support from local banks to unlock investment potential and enable domestic industry players to develop operations, particularly in the bunkering sector, according to its Executive Vice President R Jeyenderan. The bunkering service encompasses the provision, storage, and logistics management of marine fuel oil, nozzles, and ancillary supplies for ships and vessels. While many industry players show interest in entering this sector, they face difficulties obtaining bank financing due to local financial institutions' perception of the high-risk nature of the business, especially in terms of ship acquisition and related bunkering assets. Foreign investors often direct funds through banks in Singapore instead of Malaysian financial institutions, causing economic benefits to flow abroad. This practice has a negative impact on our maritime activities, as our waters are beautiful and have good ship traffic flow. Consequently, we lose significant contributions to Gross Domestic Product (GDP), as our bunker output peaked at around 600,000 hectares until 2013 before declining to 200,000 hectares. During a press briefing on the Bernama TV program \"Maritime Industry: Global Challenges, Domestic Impact,\" Jeyenderan emphasized the need for clearer guidelines, especially regarding customs documentation that covers import, export, and other ship-related activities. He noted that industry players often struggle to understand the varying procedures and documentation requirements set by various agencies, including the Department of Customs Malaysia (DCM), Malaysia Maritime Enforcement Agency (APMM), port authorities, and harbor managers. For example, the correct Standard Operating Procedure (SOP) for presenting documents K1 to K9 needs to be established and uploaded into the system for all parties to adhere to the same requirements, he added. These documents refer to the standard customs declaration forms K1 to K9 issued by the DCM under the Customs Act 1967. Regarding Malaysia's maritime industry under the Malaysia Plan 13 (MP13) until 2030, Jeyenderan stated that the industry is on the right track, but management needs to be improved, and ensuring the continued availability of waste material that can be used as aviation fuel feedstock must be secured.",
  "summary": "Menurut pemain industri, R Jeyenderan ramai minat menceburi namun sukar dapat pembiayaan bank kerana dianggap berisiko tinggi.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}