Latest news with #RM10.9
Daily Express
a day ago
- Business
- Daily Express
Sabah investments third largest in first quarter
Published on: Wednesday, July 09, 2025 Published on: Wed, Jul 09, 2025 Text Size: Phoong said despite facing various challenges, including global economic uncertainties, geopolitical pressures and infrastructure requirements, his Ministry has made every effort to ensure domestic and foreign investors' continued confidence in coming to Sabah. Kota Kinabalu: Sabah recorded approved investments totalling RM10.9 billion for the first quarter (1Q) of this year, representing the third highest in Malaysia after Selangor and Kuala Lumpur, the Sabah State Legislative Assembly was told Tuesday. State Industrial Development and Entrepreneurship Minister Datuk Phoong Jin Zhe said the manufacturing sector emerged as the biggest contributor with an investment value of RM7.3 billion. 'As a result, the manufacturing sector investment in Sabah for 1Q of this year was the highest in Malaysia,' he said. He was responding to a question from Datuk Seri Mohd Shafie Apdal (Warisan–Senallang) who asked what measures have been taken to address issues that have deterred investors from coming to the State since 2020. Phoong said despite facing various challenges, including global economic uncertainties, geopolitical pressures and infrastructure requirements, his Ministry has made every effort to ensure domestic and foreign investors' continued confidence in coming to Sabah. He noted that the State Manufacturing Investment Task Force was established to assist investors, whether foreign or local, in resolving various issues and meeting their requirements. In addition, allocations have been made to improve basic infrastructure and utilities at the Kota Kinabalu Industrial Park, Sipitang Oil and Gas Industrial Park (Sogip) and Palm Oil Industrial Cluster (POIC) Lahad Datu. This includes a RM40 million allocation for constructing a 33kV/11kV main distribution substation for Sogip, which is currently underway. 'The Government, through Jetama Sdn Bhd, is also implementing an initiative to provide fresh water specifically for industrial use. This is actively being carried out at POIC Lahad Datu, involving the use of seawater desalination technology to produce fresh water for factory and industrial use,' he said. * Follow us on our official WhatsApp channel and Telegram for breaking news alerts and key updates! * Do you have access to the Daily Express e-paper and online exclusive news? Check out subscription plans available. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Sun
2 days ago
- Business
- The Sun
Sabah ranks third in Malaysia for Q1 2025 investments with RM10.9 billion
KOTA KINABALU: Sabah secured RM10.9 billion in approved investments during the first quarter of 2025, ranking third in Malaysia after Selangor and Kuala Lumpur. The manufacturing sector dominated with RM7.3 billion, making Sabah the top state for manufacturing investments nationwide. Industrial Development and Entrepreneurship Minister Datuk Phoong Jin Zhe highlighted the state's efforts to maintain investor confidence despite global economic uncertainties and infrastructure challenges. The State Manufacturing Investment Task Force was established to assist both foreign and local investors in resolving operational hurdles. Key infrastructure projects include upgrades at the Kota Kinabalu Industrial Park, Sipitang Oil and Gas Industrial Park (SOGIP), and Palm Oil Industrial Cluster (POIC) Lahad Datu. A RM40 million project is underway to build a 33kV/11kV main distribution substation at SOGIP. Additionally, Jetama Sdn Bhd is implementing a seawater desalination initiative at POIC Lahad Datu to supply fresh water for industrial use. 'This technology ensures sustainable water access for factories,' said Phoong. - Bernama
The Sun
2 days ago
- Business
- The Sun
Sabah attracts RM35.38 billion investments from 2021 to 2024
KOTA KINABALU: Sabah has secured RM35.38 billion in investments across 420 projects between 2021 and 2024, according to the state legislative assembly. Assistant Minister to the Chief Minister, Datuk Nizam Abu Bakar Titingan, revealed that domestic investments accounted for RM20.61 billion, while foreign investments totalled RM14.77 billion. Additionally, 52 projects worth RM17.42 billion have been realised. 'In the first quarter of 2025 alone, Sabah recorded RM10.9 billion in approved investments, reflecting strong investor confidence,' Nizam said during the assembly session. The breakdown shows RM5.37 billion in domestic investments and RM1.08 billion in foreign investments for 2024. In 2023, domestic investments surged to RM11.21 billion, far exceeding foreign investments of RM130 million. Foreign investments were concentrated in specialised sectors like copper foil manufacturing, solar panels, and oil and gas, while domestic investments covered a broader industrial spectrum. To sustain this growth, Sabah plans to establish three new industrial parks: the Blue Economy Industrial Park in Kudat, an Integrated Industrial Park in Kota Belud/Kota Marudu, and another in Beaufort, Kimanis. Trade performance remained robust, with RM107.8 billion recorded in 2024, marking the third consecutive year above RM100 billion since 2022. Tourism also thrived, with 7.85 million visitors from 2021 to 2024, including 5.44 million domestic and 2.4 million international tourists. From January to May 2025, arrivals reached 1.4 million (848,420 domestic, 559,150 international). Under the Sabah Maju Jaya (SMJ) Development Plan 1.0, 94% of 467 initiatives have been implemented, with 366 fully completed as of May 2025.
Daily Express
2 days ago
- Business
- Daily Express
Sabah attracts RM35.38 billion in investments under SMJ Plan
Published on: Tuesday, July 08, 2025 Published on: Tue, Jul 08, 2025 By: Ricardo Unto Text Size: KOTA KINABALU: Sabah secured RM35.38 billion in total investments from 2021 to 2024 under the SMJ 1.0 plan, covering 420 approved projects, said Assistant Minister to the Chief Minister Datuk Nizam Abu Bakar Titingan. Of this, RM17.42 billion has been realised, while RM10.9 billion was approved in Q1 2025 alone. Domestic investments (RM20.61 billion) outpaced foreign (RM14.77 billion), especially in 2023 and 2024. Foreign investors focused on copper foil, solar, oil and gas, and steel, while domestic investors spanned broader sectors. To drive future growth, Sabah plans three new industrial parks in Kudat, Kota Belud/Kota Marudu, and Beaufort/Kimanis. * Read full report in tomorrow's print paper or log in or sign up for e-paper and premium online news access. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
The Sun
01-07-2025
- The Sun
Perak customs seizes RM10.9m in drugs, supercar and smuggled goods
IPOH: The Perak Customs Department has intercepted multiple smuggling attempts, confiscating drugs, a high-end Brabham BT62 supercar, and other illicit goods with a combined value of RM10.9 million. Director Mohd Nadzri Ariffin revealed that the department uncovered 9.8kg of suspected ganja hidden in mattress boxes and inflatable pools at a courier service in Petaling Jaya on June 5. The drugs, worth RM966,084, were destined for export. 'Smuggling drugs hidden inside mattress boxes and inflatable pools for export is a common modus operandi used to evade authorities,' he said during a press conference. The case is being investigated under Section 39B of the Dangerous Drugs Act 1952. In another operation at Port Klang on June 4, authorities seized 55,320 e-cigarette devices and 706 smuggled marble tiles worth RM1.5 million. The shipment involved false declarations and is being probed under the Customs Act 1967. A Brabham BT62 supercar, imported without a permit, was also seized in West Port, Pulau Indah, on May 27. The luxury vehicle, valued at RM6.4 million, is under investigation for customs violations. Additionally, two refrigerated lorries in Pengkalan Hulu were found carrying undocumented pig carcasses worth RM1.5 million. The shipment lacked proper health certificates and import permits, violating quarantine laws.
