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Focus Malaysia
2 days ago
- Business
- Focus Malaysia
Sabah powers past RM100b in trade for a 3rd successive year since 2022
WHILE global economic uncertainty continues to dominate headlines, Sabah has quietly delivered another strong performance by recording almost RM108 bil in total trade for 2024. This marks the third consecutive year the state has crossed the RM100 bil threshold. The latest figures were released by the Department of Statistics Malaysia (DOSM) in its Sabah External Trade Statistics July 2025 report. 'Sabah's trade remained resilient, registering a total trade value of RM107.8 bil in 2024, surpassing the RM100 bil mark for three consecutive years since 2022,' revealed Malaysia's Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin in a recent media statement. In a year defined by shifting global trade patterns and inflationary pressures, the numbers point to a state that is doing something right, steadily and quietly. The numbers also reaffirm Sabah's position as one of Malaysia's most consistent and resilient trade performers. As in previous years, Sabah's export strength was led by crude petroleum, palm oil and liquefied natural gas (LNG) which together made up more than 70% of the state's total exports. In 2024, Sabah's exports stood at RM61.3 bil while imports rose to RM46.4 bil, resulting in a trade surplus of RM14.9 bil. Praiseworthy effort Regional economists contended that while the overall trade surplus dipped slightly, the broader picture is far from negative. Sabah's performance still reflects a well-managed trade portfolio, especially as it balances between domestic and international markets. 'You don't hit over RM100 bil in trade for three straight years without solid planning,' reacted one economist. 'Sabah is showing signs of becoming a long-term trade player. Not just a resource exporter, but a serious part of Malaysia's economic engine.' Interestingly, while exports to Peninsular Malaysia dropped by 7.2%, exports to other countries increased slightly (by 0.9%). The fall in domestic exports was largely due to reduced demand for crude petroleum, palm oil and palm-based oleochemicals. This showed that Sabah is not only relying on domestic trade but is also growing its role on the global stage. It's a small but telling shift as it suggests Sabah is surging ahead in global relevance and not just relying on internal demand. Meanwhile, imports showed notable increases from Indonesia (+49.7%), Thailand (+7.5%) and China (+2.4%). These were mainly in sectors like food, fertilisers and industrial supplies. Analysts attributed this to growing consumer demand and industrial expansion within the state. Imports from Peninsular Malaysia grew by 14.9% to reach RM30.1 bil, a rise of RM3.9 bil compared to 2023. 'Sabah's import mix is changing and that's not a bad thing,' explained a senior trade consultant. 'It suggests that more is happening inside the state such as increased production, consumption and more value being added locally.' Sabah's top international trade partners include China, Thailand, South Korea, Japan and India. While trade with Peninsular Malaysia remains significant, the balance is shifting subtly and steadily toward regional and global markets. Adding to this momentum is a boost in credibility. Malaysia was recently ranked No. 1 in the world for open data by the Open Data Inventory (ODIN). This is a major leap forward from its previous 67th ranking. It's a win that not only reflects well on national agencies but also signals that data from Sabah and other states is being trusted internationally. Looking ahead, Malaysia will chair the ASEAN Community Statistical System Committee (ACSS15) in 2025. This is a leadership role that could open new pathways for regional trade collaboration. With its consistent numbers and growing connections, Sabah is well positioned to play a part in that larger ASEAN story. 'This isn't just about trade values,' justified a spokesperson from the Sabah Chief Minister's office. 'It's about building systems that work. Sabah is proving that even being far from the nation's capital is not an issue as with the right data and strategy, we can lead in our own way.' – July 8, 2025
The Sun
02-07-2025
- Business
- The Sun
Johor-Singapore SEZ to boost state GDP share above 12% by 2030
KUALA LUMPUR: The Johor-Singapore Special Economic Zone (JS-SEZ) is expected to propel Johor's share of national gross domestic product (GDP) to exceed 12 per cent by 2023, should their investments materialise according to plan, said CIMB Investment Bank Bhd In a note, the investment bank said JS-SEZ could contribute RM117.1 billion to the country's GDP by 2030, representing an average annual rise of RM19.5 billion — equivalent to 0.6–1.0 per cent of GDP per year from 2025 to 2030. Achieving this would require a compound annual growth rate (CAGR) of around 8.4 per cent per annum (p.a.), more than double its 3.8 p.a. growth during 2016–2023, it noted. 'This estimate assumes steady growth and a national GDP growth rate of 6.0 per cent. 'Key growth drivers include rising domestic and foreign investment in sectors like logistics, healthcare, tourism, and the digital economy, as well as enhanced labour mobility, improved cross-border trade facilitation, and major infrastructure upgrades,' it said. Johor's investment momentum has surged in the first quarter of 2025 (1Q 2025), securing a total of RM30.1 billion in approved investments, driven by JS-SEZ initiatives and pro-business reforms. Singapore was the largest investor in 1Q 2025 with 65 projects worth RM28.3 billion in approved FDI, beating other contenders such as the United States (RM9.9 billion) and China (RM7.9 billion). These investments are expected to generate 33,000 new jobs and put Johor on track to surpass its 2024 approved investments record of RM48.5 billion, and Johor Menteri Besar Datuk Onn Hafiz Ghazi is now targeting RM60 billion-RM100 billion in approved investments for 2025. According to CIMB Investment, investors' focus will be on key zones like Forest City and Sedenak, led by data centres, electrical and electronics, electric vehicles, and the logistics sectors. 'The JS-SEZ blueprint clearly outlines sector priorities to designated zones, ensuring focused development and ecosystem clustering. Delivering on these projects will establish Johor as a diversified and globally connected economic engine by 2030,' it said. CIMB Investment added that the JS-SEZ is also expected to strengthen the Johor-Singapore economic corridor, enabling a twin-city model similar to Shenzhen-Hong Kong. 'Johor offers scale, land, and labour, while Singapore brings capital, finance, and global networks. Their integration creates a compelling, cost-efficient destination for global investors, with seamless operations across both jurisdictions,' it said.
New Straits Times
02-07-2025
- Business
- New Straits Times
Johor's GDP share could exceed 12pct by 2030 on JS-SEZ momentum
KUALA LUMPUR: Johor's share of Malaysia's gross domestic product (GDP) could surpass 12 per cent by 2030 if investments in the Johor–Singapore Special Economic Zone (JS-SEZ) proceed as planned, according to CIMB Securities Sdn Bhd. Its senior economist, Vincent Loo, said this would be accompanied by a significant rise in GDP per capita to US$15,817,compared to US$9,179 in 2023. He said that while such an ambitious pace may be difficult to sustain, even achieving half the acceleration — bringing growth to 6.1 per cent annually — could deliver meaningful benefits. "Based on our estimates, this would raise Johor's GDP per capita to US$13,932 by 2030 and increase Johor's share of Singapore's GDP per capita to 11.6 per cent from 10.7 per cent in 2023, compared to 13.2 per cent if Johor's economy grows 8.4 per cent annually. "Over the longer term, continued convergence between the two economies could lift Johor's GDP per capita to 12.1 per cent of Singapore's by 2035 and 15.2 per cent should Johor's economy grow at an annual 8.4 per cent from 2025 to 2035," he added. Johor secured RM30.1 billion in approved investments in the first quarter of this year, of which RM26.9 billion came from foreign direct investment. Singapore emerged as the largest foreign investor, contributing RM28.3 billion across 65 projects, surpassing other major sources such as the United States (US$9.9billion) and China (US$7.9 billion). The JS-SEZ is a central pillar of Johor's Maju Johor 2030 plan, which targets RM260 billion in GDP by 2030, nearly double the state's 2023 output of RM148.2 billion. Loo said achieving this would require a compound annual growth rate of around 8.4 per cent annually, more than double its 3.8 per cent yearly growth between 2016 and 2023. He added that the growth strategy focuses on high-value sectors such as electrical and electronics, life sciences, the digital economy, green energy, electric vehicles, aerospace and logistics. "These sectors align with JS-SEZ priorities and signal a move up the value chain from Johor's traditional manufacturing base," he said. The Economy Ministry projects that the JS-SEZ could contribute RM117.1 billion to the country's GDP by 2030, representing an average annual uplift of RM19.5 billion, equivalent to 0.6 to one per cent of GDP per year from 2025 to 2030. Loo said the estimation assumes steady growth and a national GDP growth rate of 6 per cent. "Key growth drivers include rising domestic and foreign investment in sectors like logistics, healthcare, tourism and the digital economy, as well as enhanced labour mobility, improved cross-border trade facilitation and major infrastructure upgrades such as Customs, Immigration and Quarantine facilities and rail links. "Although Singapore has not issued a formal estimate, it is expected to benefit indirectly through increased offshoring to Johor, greater demand for Singapore-based services and improved access to Malaysian talent," he added.
BusinessToday
25-06-2025
- Business
- BusinessToday
Malaysia's Direct Investment Abroad Saw Higher Net Outflow Of RM33.9 Billion In 2024
Malaysia's Direct Investment Abroad (DIA) saw a notable increase in net outflow in 2024, reaching RM33.9 billion, up from RM30.1 billion in 2023. This marks a continued trend of Malaysian entities expanding their global footprint, although the overall DIA position experienced a slight decline. According to data released by the Department of Statistics Malaysia (DOSM) today, income generated from DIA climbed to RM43.2 billion in 2024, an improvement from RM40.9 billion in the previous year. However, the total DIA position, representing the accumulated value of Malaysian investments abroad, decreased from RM638.8 billion in 2023 to RM622.1 billion by the end of 2024. The Services sector was the primary driver of Malaysia's DIA net outflow, accounting for the largest share with RM28.7 billion. This highlights the growing internationalisation of Malaysian service-oriented businesses. Other significant contributions to outflows came from the Mining & Quarrying sector (RM4.3 billion) and the Construction sector (RM1.4 billion). Similarly, the Services sector also led in income generation from DIA, contributing a substantial RM31.4 billion. Following closely were the Mining & Quarrying sector with RM5.3 billion in income, and the Manufacturing sector, which recorded RM3.5 billion. In terms of the accumulated DIA position, DOSM said the Services sector remained the dominant contributor, totaling RM463.7 billion at the end of 2024, an increase from RM459.6 billion in 2023. This was trailed by the Mining & Quarrying sector (RM66.1 billion) and the Agriculture sector (RM46.5 billion). Geographically, Asia continued to be the largest recipient of Malaysian DIA flows, attracting RM26.5 billion. The primary destinations within Asia for these investments were Singapore and Indonesia. Asia proved to be the most lucrative region for Malaysian investments abroad, generating the highest income from DIA in 2024, amounting to RM26.6 billion. By the close of 2024, Asia maintained its lead in terms of DIA position, holding RM349.7 billion, further cementing its role as a key market for Malaysian companies venturing overseas. Related
BusinessToday
20-06-2025
- Business
- BusinessToday
Hartanah Kenyalang Posts RM1.3 Million In Net Profit On Construction Gains
Hartanah Kenyalang Bhd reported a net profit of RM1.3 million for the second quarter ended April 30, 2025, on the back of RM30.1 million in total revenue, primarily driven by its building construction services segment. The segment contributed RM21.6 million, or 72% of total revenue, with major contributions from ongoing and completed projects such as the State Archive Project, Yayasan International Schools in Sibu and Kuching, and the Sekolah Daif projects in Tambay and Tebedu. While this marks the company's first interim financial report following its ACE Market listing, the group's revenue was 32.8% lower compared to the preceding quarter's RM44.8 million, largely due to the near-completion or handover of several key projects. For the six-month period, Hartanah Kenyalang posted RM74.9 million in revenue and RM3.2 million in net profit. Looking ahead, the group remains optimistic, citing positive momentum in Sarawak's construction industry as a key driver for future growth. Related
