
Federal govt allocates RM8.79b to roll out 86 projects under 12MP in Sabah
Deputy Prime Minister Datuk Seri Fadillah Yusof, who is also the energy transition and water transformation minister, said the total allocation will be disbursed under the Fifth Rolling Plan (RP5) of the 12th Malaysia Plan (12MP).
"Sabah has received a fairly large allocation from the federal government, it is our commitment to resolve two key issues in Sabah, namely, water and energy.
"Because without energy and water, there can be no economic growth in Sabah," he said when speaking at the ministry Engagement Session with Sabah Media in 2025 here tonight.
He said the Madani government is always striving to ensure that Sabah continues to prosper together as a big Malaysian family.
Therefore, Sabah's progress is not only the responsibility of this state, but of the entire nation.
"With strong federal-state relations, we can build a more prosperous, just as well as sustainable state and country, with the support of a free and trustworthy media and a united people," he said.
Meanwhile, Fadillah also said the engagement session was intended as a platform for the media to better understand the role of ministry and agencies under its auspices.
"We organised this session to foster closer ties and strengthen the relationship between the media and ministry's top management," he added.
– Bernama
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles

Barnama
33 minutes ago
- Barnama
Saudi CMA Eases Investment Rules To Attract More Foreign Capital
BUSINESS KUALA LUMPUR, July 15 (Bernama) -- The Saudi Capital Market Authority (CMA) has approved a set of amendments to simplify investment account procedures for certain investor categories in a move aimed at boosting its capital market appeal. The regulatory update enables individual foreign investors residing in the Gulf Cooperation Council (GCC) countries to directly invest in the Saudi Main Market (TASI) for the first time. Previously, access for this group was limited to debt instruments, the Parallel Market (Nomu), investment funds, and derivatives — or was only possible through intermediated arrangements like swap agreements. The CMA also introduced a new provision allowing former residents of Saudi Arabia or GCC countries to retain and operate their investment accounts even after leaving the region. This move is seen as a step toward establishing Saudi Arabia as a durable, investor-friendly environment. These changes reflect the Kingdom's efforts to align with global regulatory trends and digital innovation while continuing to enhance investor protection and confidence, according to a statement. The broader strategy appears to be paying off. By the end of the first quarter of this year, foreign ownership in the Saudi market exceeded 500 billion Saudi riyals, while net foreign investment surged to 218 billion Saudi riyals by the end of 2024, marking a significant rise from 140 billion Saudi riyals in 2021. (100 Saudi riyals = RM113.43) Sustainable investments by Qualified Foreign Investors (QFIs) also grew notably, reaching 7.8 billion Saudi riyals last year — up 29 per cent year over year. This reform builds on a series of market-opening measures, including recent allowances for foreign investment in real estate firms operating in Makkah and Madinah, further positioning Saudi Arabia as a magnet for international capital. The CMA's latest facilitation underscores its commitment to making the Saudi capital market more accessible, competitive, and resilient on a global scale.


The Sun
37 minutes ago
- The Sun
FIMM reprimands 5 consultants for misconduct and rule breaches
KUALA LUMPUR: The Federation of Investment Managers Malaysia (FIMM) has taken disciplinary action against five former consultants for misconduct and violations of industry regulations. The individuals were found guilty of submitting falsified academic credentials and engaging in unauthorised financial transactions. Four of the consultants—Khafidah Adam, Nurul Qamariah Kalah, Rossidi Jalaludin, and Sathiskumar Sanggar—submitted fake academic certificates during their registration or re-registration process. FIMM confirmed that these individuals have been barred from re-registering with the organisation for a specified period. The fifth consultant, Nurfarhana Atiqah Mohamad, breached FIMM's Code of Ethics and Rules of Professional Conduct by conducting unauthorised transactions, misrepresenting information, and misappropriating funds. FIMM emphasised that such violations undermine trust in the financial advisory sector and will not be tolerated. The federation stated, 'These former consultants have been barred from registration with FIMM for a fixed period.' The move reinforces FIMM's commitment to maintaining high ethical standards within Malaysia's investment management industry. - Bernama


Sinar Daily
an hour ago
- Sinar Daily
OPR cut boosts buyers' confidence
While this rate adjustment is a promising step, shifts in consumer behaviour and market response typically take time to unfold. 15 Jul 2025 02:02pm While mid-range and affordable homes may see the most immediate uplift, renewed interest in the high-end segment may also emerge, especially among upgraders or long-term investors seeking to take advantage of more favourable loan terms. - Bernama photo for illustration purpose only KUALA LUMPUR - Bank Negara Malaysia's (BNM) recent overnight policy rate (OPR) cut could create a more favourable lending environment and reinforce confidence for property buyers, according to PropertyGuru and iProperty Malaysia country manager Kenneth Soh. He said that while this rate adjustment is a promising step, shifts in consumer behaviour and market response typically take time to unfold. On July 9, BNM reduced the OPR by 25 basis points to 2.75 per cent, marking the central bank's first rate adjustment since 2023. - 123RF photo for illustration purpose only "This adjustment could mark the beginning of a more accommodating phase to support Malaysia's economic resilience. "With transaction volumes holding steady and buyer confidence gradually strengthening, the latest monetary move will likely help sustain positive momentum across the property sector,' he said in a statement. Soh said the lower OPR would directly alleviate financial pressures, making home loans more accessible and repayments more manageable. "Coupled with other measures, such as the Housing Credit Guarantee Scheme, the rate cut may coax hesitant buyers back into the market. Buyers who were on the fence due to steep mortgage costs may now see a realistic path to owning a home,' he said. He highlighted that the rate cut is an opportunity to rekindle sales efforts, especially in the mid-range and affordable segments where demand is expected to be most responsive. "Improved buyer sentiment and financing conditions may lead to an uptick in bookings and sales, encouraging developers to gradually roll out new launches or reintroduce existing offerings with more attractive financing incentives tailored to current market conditions,' he said. While mid-range and affordable homes may see the most immediate uplift, renewed interest in the high-end segment may also emerge, especially among upgraders or long-term investors seeking to take advantage of more favourable loan terms, said Soh. "Developers who offer value-driven products in well-connected, liveable locations will be best positioned to capitalise on this momentum,' he said. On July 9, BNM reduced the OPR by 25 basis points to 2.75 per cent, marking the central bank's first rate adjustment since 2023. This pre-emptive action comes at a pivotal time aimed at safeguarding growth amid moderate inflation, lowers the cost of borrowing across the board, and sends a positive signal to the property sector. - BERNAMA More Like This