Latest news with #Norza
New Straits Times
2 days ago
- Business
- New Straits Times
Don't worry 'we have RM40 million in the bank', says OCM supremo
KUALA LUMPUR: Olympic Council of Malaysia (OCM) president Tan Sri Norza Zakaria has assured that the umbrella body has solid financial footing ahead of their move to Bukit Jalil. OCM has inked a land swap deal with Malaysian Resources Corporation Berhad (MRCB) to build their new headquarters - dubbed the Olympic House - on a 5.38 acre plot of land that will be leased (30 years) from the government. In return, MRCB will take ownership of OCM's current headquarters — Wisma OCM (0.73 hectare) at Jalan Hang Jebat - in return for building a new RM93 million state of the art facility for OCM. Certain quarters recently questioned OCM's decision as the latter will not get any cash out of the deal, adding that it could potentially strain OCM financially in the future once the 30-year lease in Bukit Jalil expires. Norza said the move is part of their plans to modernise OCM and assured that they have a "healthy balance sheet". "We have received criticism with some saying it is not a good business decision," said Norza yesterday (July 19). "We are, however, not sacrificing anything. We will get a better building in a better location close to our stakeholders. We will not be stuck in traffic between a school and Petaling Street anymore. "As I have said before, we could just take RM20 to RM30 million and build a small office in Balakong or Bukit Beruntung and keep the rest of the money, but do we really want that? "Our balance sheet is healthy, we have RM40 million in the bank. We are also under the International Olympic Committee (IOC). Every year we get (RM) three to five million in funding coming in through sponsorships and so on, so we are okay (financially). "Our objectives and our core business are different (from other organisations). We are in the process of modernising OCM and we want to establish a well respected organisation. We have to lead by example. "This issue has been addressed with our affiliates and they are fully supporting the move to Bukit Jalil." Norza added that a hotel will also be incorporated into the Olympic House project to generate recurring income for OCM. The new headquarters will also feature offices for over 32 national sports associations, an auditorium, a media conference room as well as various other modern facilities. OCM yesterday announced that a committee has been formed to oversee the Olympic House project to ensure that OCM receives a facility worthy of the RM93 million valuation. The committee is led by OCM secretary-general Datuk Nasir Ali with Squash Racquets Association of Malaysia (SRAM) president Gerard Monteiro as deputy chairperson. Datuk Amarjit Singh Gill (cycling), Datuk Awalan Abdul Aziz (lawn bowls) and Akhramsyah Sanusi (chess) will serve as committee members. The Olympic House is expected to be completed by the end of 2027 at the earliest.
New Straits Times
4 days ago
- Business
- New Straits Times
OCM endowment fund set to boost Malaysian sports
KUALA LUMPUR: The Olympic Council of Malaysia (OCM) is looking to establish a National Sports Endowment Fund to boost funding for Malaysian sports. OCM president Tan Sri Norza Zakaria said Malaysian sports can no longer expect the government to fund sporting initiatives and must look for more support from the corporate sector. OCM held their first executive council meeting for the 2025-2029 term in Bukit Kiara today (July 19). "The executive council unanimously approved the proposal to establish a National Sports Endowment Fund to serve as a long-term investment platform," said Norza during a press conference here today. "The fund will draw contributions from the private sector which includes corporations, foundations and individuals who wish to provide assistance to national sports associations, athletes and coaches. "The fund is also to help sports that require hand-holding, sports which find it hard to secure sponsorship. "But to attract these contributors, we need to provide them incentives (such as tax incentives). We will need to come up with these incentives and propose them to the government for approval. "There must be clarity when it comes to incentives, only then will the private sector come. Without clarity, it will not be easy to entice them." Norza added that the management of the fund will be free of political interference. "The fund must be run by professionals and be free of political interference. We will have a board of trustees," said Norza. "We hope to get this fund up and running by the end of the year, or by the first quarter of next year at the latest." OCM has also set up a committee - dubbed the Olympic House Project Steering Committee - to oversee the construction of their new headquarters in Bukit Jalil. The committee is led by OCM secretary-general Datuk Nasir Ali with Squash Racquets Association of Malaysia (SRAM) president Gerard Monteiro as deputy chairperson. Datuk Amarjit Singh Gill (cycling), Datuk Awalan Abdul Aziz (lawn bowls) and Akhramsyah Sanusi (chess) will serve as committee members. "This committee will oversee the entire project to ensure that we get a new facility that is worth RM93 million (and not get shortchanged) and to also make sure that the entire process is transparent," added Norza. The new OCM headquarters will be built on a 5.38 acre plot - leased from the government - by Malaysian Resources Corporation Berhad (MRCB), funded via a land swap deal with the latter. MRCB will in exchange take the 0.73 hectare plot of land - valued at RM93 million - along Jalan Hang Jebat, Kuala Lumpur where OCM's current headquarters, completed in 1991, are situated. OCM has also set up various standing committees to oversee different sectors for the 2025-2029 term. OCM Standing Committees for 2025-2029 term: Selection, membership, media (all chaired by Tan Sri Norza Zakaria), marketing and sponsorship, winter sports (both Datuk Nur Azmi Ahmad), East Malaysia (Azizul Annuar Adenan), general purpose and awards (Datuk Sumali Reduan), museum, hall of fame and welfare (Datuk Iruan Zulkefli), gender equity (Nurul Huda Abdullah), building and facilities (Datuk Dr Chong Kim Fatt), relocation of OCM headquarters task force (Datuk Nasir Ali), finance (Datuk Ahmad Feisal Ahmad Tajuddin), education and training (Moira Tan), medical and anti-doping (Datuk Dr S.S Cheema), legal advisory, rules and discipline (Datuk Seri Firuz Jaffril)
The Sun
24-06-2025
- Business
- The Sun
OCM's RM97m Olympic House HQ set for 2028 completion
THE Olympic Council of Malaysia (OCM) has confirmed that its new headquarters, Olympic House, is on track for completion by 2028. The RM97 million project will commence construction by the end of this year, subject to approvals from Kuala Lumpur City Hall (DBKL). OCM president Tan Sri Mohd Norza Zakaria stated that the project will unfold in two phases. The first phase focuses on the main building, while the second includes a banquet hall and hotel. 'We will do our best to ensure timely completion,' he said. A groundbreaking ceremony is planned for late July, following approval from Youth and Sports Minister Hannah Yeoh. 'Once we receive DBKL's building approval, construction will begin immediately,' Norza added during the Olympic Day celebration at Bukit Jalil's National Stadium. The OCM is collaborating with the Malaysia Stadium Corporation (PSM) to accelerate the project. 'Phase one can be expedited through this strategic partnership,' Norza emphasized. Present at the event were PSM chairman Datin Anita Azrina Abdul Aziz and OCM deputy president Datuk Nur Azmi Ahmad.
New Straits Times
24-06-2025
- Sport
- New Straits Times
Extra deputy CDMs needed for multi-city Sea Games, says OCM
KUALA LUMPUR: The Olympic Council of Malaysia (OCM) has stressed the need for there to be "at least two" deputy chef de missions appointed to help lead the national contingent at the Thailand Sea Games (Dec 9-20). OCM president Tan Sri Norza Zakaria said a number of candidates have already been shortlisted for the CDM and deputy CDM positions. "The issue is in terms of logistics, the games will be held across three areas - Bangkok, Songkhla and Chonburi so we have to discuss the selection of one CDM and a few deputies, two at least. We will have to look at three or four personalities," said Norza yesterday (June 23). "It (candidates) will be a mix of sports administrators from OCM, former athletes as well as representatives from national sports associations. "We have shortlisted a few names and I will be in Penang tomorrow (today) with the Youth and Sports Minister (Hannah Yeoh). "I will discuss this with her. Although the right (to select CDM) is with OCM, we feel that we should also get approval from the minister." The appointment of at least two deputy CDMs has been the norm in recent editions of the Sea Games though there has yet to be three deputy CDMs appointed for the games. Tenpin bowling legend Datuk Shalin Zulkifli and former national squash player Sharon Wee served as deputy CDMs for the 2023 Phnom Penh games. Datuk Nasir Ali led the contingent as CDM. On a separate note, Norza added that Yonex has been appointed to supply the apparel for the national contingent at the Thailand Sea Games. "We have appointed Yonex, so we will sit down with them (to discuss) the design and everything. We will also bring in the National Sports Council this time," he said. The official attire originally unveiled for the Paris Olympics contingent last year was poorly received by the public and prompted OCM to redesign the kit prior to the games.
The Sun
24-06-2025
- Business
- The Sun
New OCM Olympic House in Kuala Lumpur set for 2028 completion
THE Olympic Council of Malaysia (OCM) has confirmed that its new headquarters, Olympic House, is on track for completion by 2028. The RM97 million project will commence construction by the end of this year, subject to approvals from Kuala Lumpur City Hall (DBKL). OCM president Tan Sri Mohd Norza Zakaria stated that the project will unfold in two phases. The first phase focuses on the main building, while the second includes a banquet hall and hotel. 'We will do our best to ensure timely completion,' he said. A groundbreaking ceremony is planned for late July, following approval from Youth and Sports Minister Hannah Yeoh. 'Once we receive DBKL's building approval, construction will begin immediately,' Norza added during the Olympic Day celebration at Bukit Jalil's National Stadium. The OCM is collaborating with the Malaysia Stadium Corporation (PSM) to accelerate the project. 'Phase one can be expedited through this strategic partnership,' Norza emphasized. Present at the event were PSM chairman Datin Anita Azrina Abdul Aziz and OCM deputy president Datuk Nur Azmi Ahmad.
