Latest news with #RM35.38
Daily Express
09-07-2025
- Business
- Daily Express
Sabah records RM35.4 billion investments under SMJ 1.0 development plan
Published on: Wednesday, July 09, 2025 Published on: Wed, Jul 09, 2025 By: Ricardo Unto Text Size: Nizam noted that domestic investments exceeded foreign investments in both 2023 and 2024, with RM11.21 billion and RM5.37 billion recorded, respectively. Kota Kinabalu: Sabah recorded RM35.38 billion in total investments between 2021 and 2024 under the Sabah Maju Jaya (SMJ) 1.0 development plan, with 420 approved projects comprising both domestic and foreign investments. Assistant Minister to the Chief Minister, Datuk Nizam Abu Bakar Titingan, said the State saw the realisation of 52 investments worth RM17.42 billion during that period. He told the State Legislative Assembly on Tuesday that RM10.9 billion in investment was approved in the first quarter of this year alone. 'Of the RM35.38 billion total, RM20.61 billion came from domestic sources while RM14.77 billion was contributed by foreign investors,' he said in response to a question from Nabawan Assemblyman Datuk Abdul Ghani Mohamed Yassin. Nizam noted that domestic investments exceeded foreign investments in both 2023 and 2024, with RM11.21 billion and RM5.37 billion recorded, respectively. 'In 2023, foreign investments amounted to only RM130 million, while in 2024, they reached RM1.08 billion,' he said. He said foreign investments focused on specialised sectors such as copper foil manufacturing, solar panels, oil and gas, and steel production. 'In comparison, domestic investors were involved in a broader range of industries outside of those specialised sectors,' he added. Nizam said the State's success in attracting investors reflected growing confidence in Sabah's economy under the current administration. To sustain momentum, the State Government plans to establish three new industrial parks – the Blue Economy Industrial Park in Kudat, and two Integrated Industrial Parks in Kota Belud/Kota Marudu and Beaufort/Kimanis. * 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
08-07-2025
- 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
08-07-2025
- 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 Star
08-07-2025
- Business
- The Star
Sabah Maju Jaya 1.0 plan delivered substantial progress across sectors, state assembly hears
KOTA KINABALU: From housing and healthcare to job creation and student aid, Sabah's Sabah Maju Jaya (SMJ) 1.0 plan has delivered significant results, with 94% of its initiatives now implemented, according to the state government. Assistant Minister to the Chief Minister Datuk Nizam Abu Bakar Titingan reported that 366 out of 467 initiatives under the Sabah Maju Jaya development plan—launched in 2021—had been fully completed as of May this year. "The Sabah Maju Jaya development plan has progressed successfully, and we are seeing real, measurable outcomes. From economic growth to human capital and people's wellbeing, this reflects the government's commitment to delivering what was promised," he said. Responding to a question from Datuk Abdul Ghani Mohd Yassin (GRS -Nabawan) during the Sabah State Assembly sitting on Tuesday (July 8), Nizam detailed the plan's achievements. In economic performance, the state's gross domestic product rose from RM77.8bil in 2020 to RM84.3bil in 2024, while trade surpassed RM100bil for three consecutive years from 2022 to 2024, with a peak of RM118bil in 2022. The agriculture sector saw expanded paddy plantations, the introduction of a crop takaful scheme, and the launch of nanas MD2 projects, with the first 18-tonne container exported to Singapore. Rubber cultivation now spans over 241,000 hectares, while livestock numbers increased from 6.8 million in 2021 to over 9.3 million in 2023. Six agri-collection centres were established in Kundasang, Kota Marudu, Beaufort, Telupid, Keningau, and Lahad Datu. Freshwater fish production and aquaculture initiatives, including hybrid grouper fry tanks, saw measurable increases. In the industrial sector, Sabah secured 420 approved investment projects worth RM35.38 billion from 2021 to 2024. Domestic investments led with RM20.61bil, compared to RM14.77bil in foreign investments. Plans include developing three new industrial parks in Kudat, Kota Belud/Kota Marudu, and Beaufort/Kimanis. Tourism rebounded with 7.85 million visitors and RM16.84bil in spending from 2021 to 2024. From January to May this year, the state welcomed over 1.43 million tourists, including 559,150 international arrivals. Major hotel developments are underway, including Club Med Borneo in Kuala Penyu, InterContinental Hotel in Papar, Sheraton Kota Kinabalu, and Hilton Garden Inn in Tuaran. Hyatt Centric and Citadines Waterfront have opened in the state capital. In education, RM1.33bil was invested from 2021 to 2024, with RM485mil focused on human capital programmes. Fourteen new initiatives benefited over 210,000 students. The Sabah TVET Council was formed to coordinate over 160 technical and vocational training institutions. For social wellbeing, RM1.49bil was spent from 2021 to 2024 on programmes like Rumah Mesra SMJ, the SYUKUR aid scheme, and medical equipment upgrades, including 100 new dialysis machines. Infrastructure developments included 982km of road expansion, raising the total road length to 22,858km. Water treatment capacity increased from 1,505 million litres daily in 2021 to 1,630 million litres in 2024, with several key upgrades expected by 2026. Non-revenue water loss decreased from 60% to 52%, and electricity reliability improved, with SAIDI dropping to 207 minutes in 2024. Eleven electricity generation projects totaling 1,219MW are in progress, expected to complete between 2025 and 2031. Sabah is on track to gazette 2.2 million hectares of Totally Protected Areas under the Heart of Borneo initiative, with two million hectares already gazetted. Marine Protected Areas now cover over one million hectares. State revenue collected RM26.2bil from 2021 to 2024, with annual income rising from RM3.59bil in 2020 to RM6.84bil in 2024. The Commercial Collaboration Agreement with Petronas significantly contributed through enhanced state participation and revenue rights. A detailed annual report on the Sabah Maju Jaya 1.0 development plan was distributed to assembly members after the session.
