Five Malaysian companies slapped by US unilateral sanctions

As of Dec 2023, five Malaysian companies have been slapped with unilateral sanctions by the United States of America.

The five are:-

Skyline Advanced Technologies Sdn Bhd.
Nava Hobbies Sdn Bhd.
Integrated Scientific Microwave Technology Sdn Bhd
Arta Wave Sdn Bhd.
Jatronics Sdn Bhd.

“All five are suspected or accused of trading and supplying thing that eases the transfer of material, component and strategic technology for Iran’s weapons programme or to Russian armed forces,” said Investment, Trade and Industry Minister Tengku Zafrul Aziz.

He said this in a written reply to Datuk Seri Ronald Kiandee (PN-Beluran).

He further explained that the US’ unilateral sanctions is imposed as a wide action targeting 300 entities from various different countries.

The unilateral sanctions is executed via US Office of Foreign Assets Control under Executive Order 13382: Blocking Property of Weapons of Mass Destruction Proliferators and their supporters.

Sanctioned companies would bot gain access to banking and financial services, he added.

In Malaysia all five sanctioned companies are not registered with Malaysian Investment Development Authority with production licenses.

“This means they are traders, not manufacturers.

The minister added that unilateral sanctions do not affect the overall export value of a nation.

This is proven with a double digit growth from year to year at 10.3% raking in RM246.31 billion.

“Exports rose 7.3% to RM128.22 billion and import is up 13.8 % at RM118.09 billion with a surplus of RM10.14 billion.