Latest news with #ASEANAwards
Borneo Post
a day ago
- Business
- Borneo Post
Another assembly sitting possible - Masidi
Masidi delivering the Chief Minister's speech at the award ceremony. KOTA KINABALU (July 20): There is a possibility of another State Assembly sitting before its dissolution ahead of the coming state elections, said State Finance Minister Datuk Seri Masidi Manjun. Masidi made the statement when asked about the potential tabling of the Sabah Budget 2026. He explained that the State Budget must be presented by the Finance Minister either before or after the state elections to avoid any disruption in government operations, including the implementation of programmes and the payment of civil servant wages. 'If the elections are held earlier, then I think we still have time to table the budget around November. But if the assembly is dissolved later, we might be able to table it around December,' he told reporters at the sidelines of the International Business Review (IBR) ASEAN Awards here on Saturday night. When asked whether the budget would be tabled before or after the State Assembly is dissolved, Masidi said the decision rests with the Chief Minister. On the possibility of another sitting before dissolution, he added, 'The possibility is always there.' Previously, after the July 8 State Assembly sitting, Chief Minister Datuk Seri Hajiji Noor had hinted that it might be the final session for the current term. When asked by reporters if it marked the end of the legislative term, he responded it was 'more or less,' noting that all bills beneficial to the state had already been passed. Political analysts expect the dissolution of the state assembly after Parti Gagasan Rakyat Sabah (Gagasan Rakyat) has held its congress from July 25-27. They speculate that Hajiji is likely to call for polls before National Day on August 31 or after Malaysia Day on September 16. Hajiji said that he would consult the presidents of all Gabungan Rakyat Sabah (GRS) component parties before making any move to dissolve the Sabah State Legislative Assembly. The 16th Sabah State Legislative Assembly will be automatically dissolved on Nov 11 this year if it is not dissolved earlier. Speaker Datuk Seri Kadzim M Yahya said the five-year term of the assembly is calculated from the date of the first sitting of the 16th Sabah State Assembly, which was on Nov 12, 2020, making Nov 11 this year the end of the term. Gagasan Rakyat, PBS, STAR, SAPP, Usno, PCS, PHRS and LDP are members of GRS. PBS and STAR have called for GRS to contest solo in the 17th State Election.
Borneo Post
a day ago
- Business
- Borneo Post
Sabah's economic development now on solid foundations
Sabah was named the Most Outstanding State in Malaysia for the Year 2024 in conjunction with the ASEAN International Business Review (IBR) Awards Ceremony organised by IBR at the Sabah International Convention Centre (SICC) here on Saturday Finance Minister Datuk Seri Panglima Masidi Manjun, representing the Chief Minister, Datuk Seri Panglima Haji Hajiji Haji Noor, received the award, which was presented by the Chief Judge of the awards, Datuk Seri Azman Ujang. This recognition was based on an evaluation by a panel of professional judges comprising prominent figures from various fields, supported by data from a comprehensive assessment carried out by expert advisors. KOTA KINABALU (July 20): The present State Government has firmly anchored Sabah's vision and roadmaps for a robust economic development on solid foundations, said Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor. He said that for the last five years, the State Government has been creating a new Sabah, strong and united, and inviting the world to leverage the state's natural wealth and treasures to build better lives for its people. 'Our riches are manifold – from minerals such as gold, copper, silica, palm oil, cocoa and multiple energy resources such as crude petroleum, gas, hydroelectricity, coal and more. 'Our oceans benevolently give us the abundance of some of the most sought-after seafood delicacies and thermal energy while maintaining pristine and untouched coral reefs,' he said at the International Business Review (IBR) ASEAN Awards at the Sabah International Convention Centre (SICC) here on Saturday night. State Finance Minister Datuk Seri Panglima Masidi Manjun delivered his speech. Hajiji said Sabah had sealed the Commercial Collaborative Agreement with Petronas, allowing the state to have more participation and more say in the oil and gas industry in Sabah itself. 'We now have 50 per cent equity from the Samarang oil and gas field, 25 per cent equity from Samur, and on 17 July 2025, we signed an agreement with Petronas to acquire a 25 per cent equity in the USD3.1 billion floating liquefied natural gas (ZLNG), also known as PFLNG 3, a shore based US$3.1 billion LNG investment in Sipitang,' he said. 'On the investment front, our hard work paid off when Sabah recorded RM17.41 billion from 73 companies in overall approved foreign and domestic investments in the manufacturing sector since September 2020. 'Of these 73 companies, 52 have already set up businesses in the state with a total investment of RM7.8 billion, creating 3,636 jobs,' he said. Between 2022 and 2024, the Chief Minister stated that Sabah has received new investment proposals worth an additional RM42.3 billion, which will create 32,996 jobs. He said the three-phase RM31 billion Esteel Enterprise Sabah Sdn Bhd launched at the end of June this year is set to create a ripple effect extending beyond green technology to spur innovation, drive benefits for businesses and communities in Sabah. Hajiji said that due to high demand from investors, the State Government has approved three new industrial parks in Kota Belud, Beaufort and in the north, Kudat for the Blue Economy Industrial Park – all strategically located to grow investment opportunities. 'We are confident this development bodes well for Sabah as the state progresses in its journey to explore new horizons to realise the state's full potential. 'Sabah will always remain investor-friendly, and we have implemented policies to attract more investors here. We are committed to creating a conducive space that nurtures investments and fosters collaboration. 'We understand the importance of creating a stable, transparent, and supportive environment for investments to flourish,' he said. 'We welcome more direct connectivity so that investors, tourists and business travellers have easy access to Sabah. AirAsia's new Kota Kinabalu-Taipei-Fukuoka route is one example that would benefit both the tourism and investment sectors, and we look forward to many more opening up in the near future,' he said. Hajiji said that one industry that will be a game changer and offer immense investment opportunities for Sabah is the Blue Economy, which has been established in Kudat. 'This sector is estimated to yield 491,000 metric tons of marine harvests such as fish and prawns annually, with a value of RM3.25 billion. But, there is more to Blue Economy than just deep-sea harvesting,' he said. In fact, 14 components of the Blue Economy can be explored, such as renewable ocean energy, blue carbon, tourism, maritime transport, and marine biotechnology, among others, he said. On ocean energy, the Chief Minister said one of the most exciting is the Ocean Thermal Energy Conversion (OTEC), which harnesses energy from our oceans. 'OTEC power plants are currently being planned to span 500km of coastline and, in time, to be able to generate 20,000MW of green energy, an unprecedented scale globally. This is not only a gamechanger for the country, it's a gamechanger for the region,' he said. Hajiji said that as far as power supply is concerned, the State Government has launched the Sabah Energy Roadmap and Master Plan 2040, which is expected to generate 700MW in the next 1-2 years to meet the needs of investors and citizens. Likewise, he said RM679.85 million has been allocated in 2024 to address immediate water shortages, and long-term plans include the completion of the Ulu Padas hydropower project, which has a daily release capacity of 6,000 million litres of water. Hajiji said Sabah has also invested substantially in human capital development, with close to RM1 billion spent on education as well as on various youth development programmes from 2021 to 2024.
The Sun
2 days ago
- Business
- The Sun
Sabah blue economy set to generate RM3.25 billion annually from marine harvests
KOTA KINABALU: The Sabah Blue Economy is on track to generate RM3.25 billion annually from marine harvests, including fish and prawns, with an estimated output of 491,000 tonnes. Chief Minister Datuk Seri Hajiji Noor highlighted this as part of the state's broader blue economy strategy, which includes renewable ocean energy, blue carbon, tourism, and marine biotechnology. 'There is more to Blue Economy than just deep-sea harvesting,' Hajiji said in a speech read by Sabah Finance Minister Datuk Seri Masidi Manjun at the International Business Review (IBR) ASEAN Awards. He emphasized the potential of Ocean Thermal Energy Conversion (OTEC), a renewable energy source that could generate 20,000MW of green energy along 500km of coastline. The state has also established the Blue Economy Industrial Park in Kudat, alongside new industrial parks in Kota Belud and Beaufort, to attract investments. Since September 2020, Sabah has secured RM17.41 billion in approved investments from 73 companies in the manufacturing sector, creating 3,636 jobs. Additional proposals worth RM42.3 billion are expected to generate 32,996 more jobs. A key development is the Commercial Collaborative Agreement with Petronas, granting Sabah greater participation in oil and gas, including stakes in the Samarang and Samur fields and a 25 per cent share in a US$3.1 billion floating LNG project in Sipitang. To support infrastructure needs, the Sabah Energy Roadmap and Master Plan 2040 aims to produce 700MW of energy within two years, while RM679.85 million has been allocated to address water shortages. At the IBR ASEAN Awards, Sabah was named the Most Outstanding State in Malaysia for 2024, with Negeri Sembilan taking the title of Most Progressive State. Other winners included Institut Jantung Negara and Clean Kinetics Pte Ltd for excellence in healthcare and renewable energy, respectively. - Bernama
