Latest news with #RM260mil
The Star
12 hours ago
- Business
- The Star
MyCIF made RM1.2bil co-investments
Securities Commission Malaysia building in Kuala Lumpur PETALING JAYA: The Malaysia Co-Investment Fund (MyCIF) has exceeded RM1bil in total co-investments since its inception, playing a key role in providing financing for micro, small, and medium enterprises (MSMEs) in Malaysia. In its 2024 annual performance report released yesterday, MyCIF said total co-investments reached RM1.19bil, with RM264mil invested in 2024 alone. The RM1.19bil total co-investments by MyCIF represented 4.6 times of the RM260mil total funds disbursed from the government to date into the programme. The Securities Commission (SC), which administers MyCIF, said this demonstrated 'efficient use of public funds'. 'MyCIF has attracted 4.1 times in private sector funding for every ringgit invested, demonstrating a strong crowding-in effect. 'This saw a 21.4% increase in total private investment,' the SC pointed out. Since its inception, more than 9,500 MSMEs have benefitted from the co-investments by MyCIF, which was set up by the Finance Ministry under Budget 2019. Trading ideas: SunCon, Cahya Mata, Aneka, PJBumi, Atlan, Apex, FACB, Prolintas, Green Packet, Oxford Innotech, CLMT, United Plantations
The Star
14-07-2025
- Business
- The Star
Over RM260mil allocated for seven energy projects to benefit 60,000 in Sabah, Labuan
KOTA KINABALU: The Energy Transition and Water Transformation Ministry has allocated over RM260mil for seven energy projects across Sabah and Labuan, aimed at improving electricity supply for 60,434 users, said its minister Datuk Seri Fadillah Yusof. Fadillah, who is also Deputy Prime Minister, said the projects implemented by the Sabah Electricity Supply Special Project Team, involve substation upgrades, expanded grid connectivity and improved safety monitoring systems in Sipitang, Beaufort, Tanjung Aru, Kota Kinabalu, Ranau, Sandakan and Labuan. "These initiatives have strengthened transmission and distribution infrastructure in Sabah and Labuan, ensuring a more reliable power supply, reflecting the federal government's commitment to energy resilience in line with the Malaysia Madani agenda," he said after officiating the handover of the projects at the Kota Kinabalu main intake substation on Monday (July 14). Also present were Deputy Energy Transition and Water Transformation Minister Akmal Nasrullah Mohd Nasir and ministry secretary-general Datuk Mad Zaidi Mohd Karli. Fadillah said the project includes a new gas-insulated switchgear and transformer facility to replace outdated systems, along with new cabling to enhance electricity supply to Kota Kinabalu International Airport. He also highlighted the completion of a 7km-long transmission line from the Menggalong PMU to the Sipitang-Lawas border, which was completed on Sept 2, 2024. The line will allow the import of 30MW of electricity from Sarawak once Sarawak Energy completes its section in September. "This grid is designed to carry up to 500MW and is a key component of the Asean Power Grid, connecting Peninsular Malaysia, Sabah, Sarawak and the Philippines for sustainable cross-border energy sharing," he noted. – Bernama
The Star
14-07-2025
- Business
- The Star
Over 60,000 in Sabah and Labuan to benefit from major utility upgrades, says Fadillah
KOTA KINABALU: Over 60,000 electricity users in Sabah and Labuan are set to benefit from improved utility services following the implementation of major government-backed infrastructure projects spearheaded by the Energy Transition and Water Transformation Ministry (Petra). The projects aim to upgrade and expand essential services, including electricity supply, water distribution and flood mitigation, to enhance the quality of life and economic development in the region. Deputy Prime Minister Datuk Seri Fadillah Yusof stressed the Federal Government's commitment during a working visit to Sabah under the Skuad Petra programme, an initiative that brings top federal leaders to project sites to assess progress and address challenges directly with state authorities and implementing agencies. 'A total of 60,434 consumers in Sabah and Labuan will benefit from a stable and efficient power supply through the implementation of seven energy projects worth over RM260mil by the ministry. 'This is about ensuring development translates into real outcomes for the people, whether it is electricity, clean water, or flood prevention. "Where there are issues, we are here to resolve them,' the Energy Transition and Water Transformation Minister told reporters after officiating the Main Intake Substation (PMU KKBU) in Tanjung Aru near here on Monday (July 14). Among the major projects completed are the Labuan-Sipitang 275kV interconnection, part of the Asean Power Grid, enabling electricity import from Sarawak to Sabah, new substations and upgraded distribution systems in Ranau, Batu Sapi, and Universiti Malaysia Sabah (UMS) to reduce reliance on diesel power, a 15km undersea fibre optic cable between Menumbok and Tanjung Aru to enhance grid security, and an upgraded 11kV metering system in Labuan, completed late last year. Fadillah's delegation also reviewed the Sungai Damai Basin 8 Flood Mitigation Project, which is over 54% complete. Once finished, it is expected to benefit around 17,500 residents in flood-prone areas around Kota Kinabalu. This project is one of 27 infrastructure initiatives currently underway in Sabah under the latest national rolling development plan. The overall allocation supports flood mitigation, river rehabilitation, coastal protection, and related works carried out by the Irrigation and Drainage Department. The Labuan-Sipitang grid connection is part of a broader plan to position Sabah as a key player in the Asean Power Grid, aimed at linking Peninsular Malaysia, Sabah, Sarawak, and the Philippines. 'I have been informed that installation works are almost done, although I do not have the exact date. Since it falls under Sarawak's jurisdiction, I believe it may be completed within this year … if I am not mistaken,' Fadillah said. Once completed, the system will enable Sabah to import power from Sarawak, beginning with 30MW and potentially scaling up to 500MW. Skuad Petra also visited Kota Kinabalu International Airport, where Malaysia Airports is implementing a rooftop solar system under the Selco (self-consumption) initiative. Approved in 2022, the system will generate up to 4MW of renewable energy for airport operations. The final site visit was to the Ketiau Phase 1 Sewerage Treatment Plant, a large-scale sanitation project serving the greater Ketiau area. Nearly 70% complete as of June, the facility includes a treatment plant capable of serving 50,000 people, along with over 9km of pipeline and the integration of three older systems. Fadillah acknowledged the challenges faced during implementation but stressed that the government remains committed to ensuring timely delivery. 'These projects reflect our efforts to improve the quality of life for the people of Sabah. We will continue monitoring their progress and work closely with all stakeholders to see them through,' he said.
The Star
20-06-2025
- Business
- The Star
DBKL mulls patching potholes with plastic waste
Maimunah (third from left) looking on as Wan Mohd Fauzi shows a disabled parking bay that has been resurfaced with glass waste. — MUHAMAD SHAHRIL ROSLI/The Star KUALA Lumpur City Hall (DBKL) is considering using recovered plastics to fix potholes in the capital in a bid to cut costs. Mayor Datuk Seri Maimunah Mohd Sharif said DBKL had carried out pilot tests in industrial areas to evaluate the material's durability. 'Compared to the commonly used material, namely bitumen, plastic is cheaper and more durable. 'We will implement this approach at facilities maintained by DBKL, such as playgrounds and bicycle lanes.' She said this after visiting Taman Tasik Titiwangsa to inspect several upgrading projects using recovered materials. Among these were parking bays which had been resurfaced using crushed glass. This was a project undertaken by a local start-up. The mayor said these projects were part of City Hall's push towards green initiatives and sustainability. 'This is in line with our vision to make Kuala Lumpur a zero-waste city. 'We are not just planting trees, we are making active efforts towards sustainability,' she said. City Hall was hoping to reduce the amount of waste sent to landfills, she said. Maimunah said DBKL spent RM260mil a year on managing waste, with 40% of that for collection costs. 'This is a huge cost which can otherwise go towards upgrading markets and playgrounds.' Maimunah then elaborated on plans to designate some areas in Kuala Lumpur as zero-waste zones. On May 15, Minister in the Prime Minister's Department (Federal Territories) Datuk Seri Dr Zaliha Mustafa announced that busy spots in the capital would be earmarked for this purpose as part of a larger effort to reduce waste and make the capital more environmentally friendly. Maimunah said DBKL was working to identify local communities in Kuala Lumpur's 11 parliamentary constituencies for the initiative. 'We plan on collaborating with those who are actively working on recycling initiatives. 'We prefer to work with those who are willing participants, to ensure optimal results,' she said. Also present at the event were Ecocycle Dynamic Solutions Sdn Bhd director Datuk Seri Wan Mohd Fauzi Wan Kamaruddin and Renergy Bumi Hijau Sdn Bhd business development director Sumeshini Subramaniam.
The Star
19-05-2025
- Business
- The Star
DBKL mulls setting up zero-waste zones
(From third left) Maimunah, Dr Zaliha, Dr Wan Azizah and Ramlee with DBKL's strategic partners at the event. — ONG SOON HIN/The Star KUALA Lumpur City Hall (DBKL) is considering designating busy spots in the city as zero-waste zones as part of a bigger effort to reduce waste and make the capital more environmentally friendly. Minister in the Prime Minister's Department (Federal Territories) Datuk Seri Dr Zaliha Mustafa said tourist hotspots were among areas to be considered under the initiative. 'We have yet to go through the details,' she said. 'We will discuss this with stakeholders, including community leaders, industry players and traders associations before coming up with the mechanism.' Dr Zaliha said this after launching the 70-page Kuala Lumpur Towards Zero Waste 2040 Roadmap at DBKL headquarters in Jalan Raja Laut. The document will serve as a framework for planning and long-term action to address waste management in the city. It was developed by DBKL based on analysis of existing policies and at local, national and international levels with input from stakeholders. The roadmap aims to reduce waste by 60%, comprising 20% organic and 40% inorganic waste, by 2040. Dr Zaliha also urged DBKL to consider introducing green community certifications and fiscal incentives for commercial premises to adopt green practices. In her speech at the launch, Kuala Lumpur mayor Datuk Seri Maimunah Mohd Sharif said the roadmap marked a shift from a linear system focused on using and disposing, to a circular economy emphasising on reducing, separating and recycling. 'Kuala Lumpur generates up to 2,300 tonnes of wastes daily, and some RM260mil is spent annually to deal with it. 'This is unsustainable and calls for a change in how we approach waste management,' she said. Separately, Dr Zaliha said Malaysia recently became the first non-European country to be accepted into the Davos Baukultur Alliance, a global initiative by the World Economic Forum aimed at promoting sustainable and culturally sensitive approaches to developing cities. She added that Kuala Lumpur had been named one of the pioneering cities in the initiative. Dr Zaliha recently delivered a speech in Venice, Italy, on how the city-planning approach currently practised in Kuala Lumpur was in line with the principles advocated by Davos Baukultur. Present at the launch were Federal Territories Department director-general (planning and development) Datuk Ramlee Yatim, Bandar Tun Razak MP Datuk Seri Dr Wan Azizah Wan Ismail and Wangsa Maju MP Zahir Hassan.
