Latest news with #SabahCreditCorporation
Daily Express
23-07-2025
- Business
- Daily Express
Sabah set to be a top HBI producer
Published on: Wednesday, July 23, 2025 Published on: Wed, Jul 23, 2025 By: David Thien Text Size: Phoong (left) receives a V Creator memento from George. DONGGONGON: The state can leapfrog traditional development paths by embracing cutting-edge technologies - particularly in green innovation and Artificial Intelligence. In the first quarter of 2025 alone, Sabah attracted RM10.9 billion in approved investments, which is one of the highest in Malaysia. The manufacturing sector was the largest contributor, accounting for RM7.3 billion of that figure. Sabah has to grow its manufacturing sector to make the state prosperous. 'This is proof that investor confidence in Sabah is strong. It is also a clear signal that our policies, infrastructure upgrades, and human capital development are bearing fruit.' State Industrial Development and Entrepreneurship Minister Datuk Phoong Jin Zhe stressed this at the opening of the V Creator 2025 two-day entrepreneur camp at the Sabah Credit Corporation event hall, recently. He said Sabah is being positioned to be an important Hot Briquetted Iron producer and exporter to the world. 'One example I am particularly excited about is microalgae technology. It may sound small, but its potential is massive. 'Through strategic adoption of microalgae innovations, Sabah can venture into the development of biomass industries, including biofuels, bioplastics, and sustainable aviation fuel (SAF). 'This aligns perfectly with our green agenda. This is not just about environmental sustainability; it is about economic opportunity. It's about new markets, new skills, and new jobs, which are created here in Sabah, by Sabahans. 'With these economic opportunities, we can see huge economic growth. Growth like what we are seeing this year in our first quarter of investments into Sabah,' Phoong said. Phoong exhorted the participants to think bigger in their aspirations and plans to grow and expand their business market beyond the state. 'This year, I want to challenge our entrepreneurs to think even bigger. This is the 7th year that this competition is being organized and it has been a constantly improving event; getting better and better each year. 'Our focus in the Ministry remains steadfast: to build an environment where entrepreneurs can thrive, where local products can compete globally, and where innovative ideas can flourish from seed to scale. 'We are on the brink of a new chapter for Sabah; a chapter that is defined by sustainability, digital transformation, and youth-driven innovation. 'As you embark on this two-day journey of learning, networking, and pitching, I encourage every one of you to challenge convention, embrace innovation, and create with purpose.' Phoong commended Dato George Lim, Founder and President of Sabah Entrepreneurs Transformation (SET) which organised the event that has become a key platform for cultivating Sabah's next generation of innovators and leaders. 'George has been a tireless advocate for the entrepreneur ecosystem, constantly pushing boundaries and encouraging our local entrepreneurs to level up.' In his speech, George urged participants to focus on what AI can't replace: 'People relationships, communication, trust, and execution', even though AI tools and its prompting skills are widely used for advantage.' He said under the Sabah Entrepreneurship Transformation (SET) initiative, 'we've stayed true to our mission: to create 100 entrepreneurs every year.' 'Today, we have empowered over 1,000 entrepreneurs and touched more than 100,000 lives across our business communities. But in this fast-changing world, building a business is no longer enough. He elaborated on the three 'Critical Skills for Future Entrepreneurs that includes empathetic leadership. 'Lead with care. Understand your customers. Solve meaningful problems. Purpose-driven businesses win lasting loyalty. The future rewards those who adapt fast. Start now - don't wait. 'SET is more than a programme - it's a movement. We've developed four key pillars to accelerate entrepreneurship: The 2-Day Business Camp – for ideation, strategy, and pitch readiness The Pitching Competition & Awards – with RM50,000 in funding for the Top 5 The Monthly Leadership Mentoring – to build long-term capacity A powerful ecosystem – linking entrepreneurs to funding, mentorship, and markets. * 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
Daily Express
17-06-2025
- Business
- Daily Express
Sabah Credit Corporation manages RM3.864 billion assets
Published on: Tuesday, June 17, 2025 Published on: Tue, Jun 17, 2025 By: Wu Vui Tek Text Size: Masidi, Yee, George (sixth to eighth from right) and guests with CSR project recipients in front. Kota Kinabalu: The Sabah Credit Corporation (SCC) is now managing assets of RM3.864 billion, growing from its initial RM1 million seven decades ago, thanks to unwavering support from all key stakeholders. Chief Executive Officer Datuk George Taitim Tulas said SCC's audited profit before tax last year stood at RM117.29 million. Advertisement 'With our continued success, we have contributed dividends totalling about RM369 million to the state government. 'We have also paid RM141.6 million in loan interest and RM1.3 million in zakat,' he said during SCC's 70th anniversary celebration at the Sabah International Convention Centre. He said SCC's corporate social responsibility programme has benefited communities with more than RM70 million worth of support, including infrastructure, medical equipment, donations and sponsorships. SCC has embraced digital transformation, including launching the YONO app and nearing completion of its risk management IT framework. George said its subsidiary, Manggaris IT, developed a digital parking system for local authorities that meets SAGA requirements and incorporates YONO. The system is currently in use in Putatan and will soon be extended to Keningau and Tawau. He added that SCC has partnered in state government programmes such as the Sabah People's Housing Scheme, the Sentuhan Kasih Rakyat Programme (SHUKUR), and the Dayang Programme to support affordable housing and financial assistance for the people. Finance Minister Datuk Seri Masidi Manjun, who attended the event, said SCC's role in facilitating credit has led to tangible improvements in agriculture, light industries, rural development, urban housing and public utility projects. 'SCC has consistently improved asset quality, strengthened internal governance and upheld leadership accountability, which is commendable in any financial institution,' he said. At the event, SCC contributed RM1,277,793.45 to five recipients under its CSR projects. The recipients were SK Tempasak Togudon Penampang (RM349,980.65) to build a rural hostel, KK Lions Ambulance Service Society (RM243,800) to buy a vehicle, St John Ambulance Malaysia (RM235,012.80) also to buy a vehicle, Sabah Kidney Society (RM50,000) for pharmacy items for its haemodialysis machine, and SMK Limbanak Penampang (RM399,000) to build a rural hostel. SCC was founded on June 15, 1955, as the North Borneo Credit Corporation with a grant of one million dollars from the Japanese Compensation Fund. It was rebranded as Sabah Credit Corporation in 1972 to focus on financial inclusion and socio-economic development in Sabah. Also present were SCC Chairman Datuk Seri Dr Yee Moh Chai and Deputy Chairman Datuk Surinam Sadikum. * 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
Daily Express
24-05-2025
- General
- Daily Express
State butterfly QR code project is launched
Published on: Saturday, May 24, 2025 Published on: Sat, May 24, 2025 By: David Thien Text Size: KK Rotary Club President George leading his committee members to launch the QR Code event. Kota Kinabalu: The Rotary Club of Kota Kinabalu launched a State Butterfly-Kinabalu Birdwing project QR Code to enable it to receive donations from the public within and abroad, facilitated by Sabah Credit Corporation's Yono SuperApp. The Kinabalu or Borneo Birdwing butterfly (Troides Andromache) is an endangered species. According to late KK Rotarian and entomologist, Dr Stephen Sutton, there may be about 5,000 or so left in the foothills of Mount Kinabalu. Rotary Club of Kota Kinabalu President, Datuk George Taitim Tulas, who is also Chief Executive Officer of Sabah Credit Corporation, launched the QR Code at Hyatt Regency jointly with Rotarians from Rotary Club of Luyang. 'Sabah's official State Butterfly is a living symbol of our ecological heritage. Endemic to the cool cloud forests of Mount Kinabalu, this majestic butterfly is internationally classified as endangered. Our mission is conservation with community impact. Subscribe or LOG IN to access this article. Support Independant Journalism Subscribe to Daily Express Malaysia Access to DE E-Paper Access to DE E-Paper Exclusive News Exclusive News Invites to special events Invites to special events Giveaways & Rewards 1-Year Most Popular (Income Tax Deductible) Explore Plans Stay up-to-date by following Daily Express's Telegram channel. Daily Express Malaysia
Daily Express
06-05-2025
- Business
- Daily Express
Dayang: New initiative to empower young women traders
Published on: Tuesday, May 06, 2025 Published on: Tue, May 06, 2025 By: Ahmad Apong Text Size: Azizah visiting one of the booths at the event. BEAUFORT: The Sabah Government launched a new initiative aimed at empowering young women entrepreneurs across the State, offering financial assistance and business support to help overcome capital constraints. The programme, known as Daya Upaya Peluang Usahanita (Dayang), was highlighted during the closing ceremony of the Young Women Entrepreneurs Empowerment Programme held at Dewan Pa Musa last Saturday. The event was organised in collaboration between the Institute for Development Studies (IDS) Sabah and Sabah Credit Corporation, with support from the Beaufort, Sipitang, Kuala Penyu and Membakut district offices. The closing ceremony was officiated by IDS Chairperson Datuk Seri Azizah Mohd Dun who said these four districts were chosen as the first destinations for the roadshow series to promote the fund to target groups. 'I sincerely hope that many young women entrepreneurs from these four districts will take advantage of the facilities offered to elevate their businesses to higher, more advance and profitable levels,' she said. The initiative was first announced during the Sabah State Budget 2025 tabled on November 15, 2024, as a specific financial incentive and capital assistance programme for young women entrepreneurs. 'This programme represents one of the government's efforts to help overcome the main obstacle facing young women in business, namely, capital constraints,' Azizah said. She said the collaboration between IDS' research expertise and the Sabah Credit Corporation would ensure more efficient programme implementation focused on making a meaningful impact on young women entrepreneurs. 'This type of cooperation is being conducted for the first time and IDS hopes this collaboration will continue to help the State Government enhance various entrepreneurship programs in Sabah,' she added. Azizah noted that Sabah has Malaysia's highest rural population, exceeding 60 per cent, which influences the economic ownership gap between urban and rural areas. 'Economic and entrepreneurial opportunities, especially in business, are more numerous, larger and more accessible in urban areas. While, the size of the economy and entrepreneurship in rural areas remains smaller for now,' she said. The Dayang programme aims to address this imbalance by strengthening rural economies through women's participation. 'Global observations show that women are important agents of social transformation through economic participation, ownership and mastery,' Azizah said, quoting former UN Secretary-General Kofi Annan 'When women thrive, all of society benefits and succeeding generations are given a better start in life.' The Dayang programme not only provides financial loans to start or expand existing businesses but also offers a continuous support ecosystem in all 30 districts of Sabah where these entrepreneurs operate. 'The support provided by IDS is based on a mentor-mentee concept,' Azizah said. 'Support elements include building capacity and skills over time and facilitating market access. Most importantly, we also help them create social capital through networking with other grassroots entrepreneurs in their respective localities,' she added. She encouraged young women entrepreneurs from Beaufort, Sipitang, Membakut and Kuala Penyu to make the best use of this opportunity to start, expand and advance their businesses, noting that business expansion can create downstream businesses and, more importantly, employment opportunities for local residents. 'I pray that we will achieve much success through this effort,' she said. The event also included a Raya celebration as it took place during the month of Syawal, providing an opportunity for attendees to strengthen relationships while enjoying prepared refreshments. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * 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
Daily Express
29-04-2025
- Business
- Daily Express
Sabah Credit Corporation celebrates 70 years of facilitating businesses
Published on: Tuesday, April 29, 2025 Published on: Tue, Apr 29, 2025 Text Size: George (centre) with the Management team, District Customer Centre Managers, Unit Heads, and former SCC staff during the event. Kota Kinabalu: Sabah Credit Corporation (SCC) continues to strengthen its commitment to empowering small and medium enterprises (SMEs) and fostering closer relationships with customers through three key programmes: the Customer Engagement Day, SME Empowerment Programme, and the DCC Alamesra 2025 Eid al-Fitr Celebration. SCC Chief Executive Officer Datuk George Taitim Tulas, said these programmes were held in conjunction with the 70th Anniversary Expedition of SCC, with the aim of bringing SCC closer to communities across the state. He emphasised that, in addition to commemorating SCC's seven-decade journey since 1955, this celebration also serves as a platform to set a brighter future direction, in line with the changing economic and technological landscape. 'Aside from commemorating SCC's journey over seven decades since 1955, this celebration also serves as a platform to set a brighter future direction, in line with the changes in the economic and technological landscape,' said George during his speech at the Alamesra Customer Centre, on Monday. According to him, SCC is not only providing financing but is also committed to guiding entrepreneurs in financial management, loan application processes and leveraging business opportunities to enhance competitiveness. 'Through the SME Empowerment Programme, we are determined to help create more successful local entrepreneurs, thereby strengthening the economic resilience of the state,' he said. In the Customer Engagement Day programme, SCC offered customers the opportunity to interact directly, share opinions, ask questions, and make suggestions to improve service quality. 'Customer feedback is crucial for SCC to continue innovating and ensuring that our services remain relevant and meet the current needs of the people of Sabah,' George said. The Eid al-Fitr Celebration, also held as part of this programme, reflects SCC's strong relationship with its customers, strategic partners, and the community, as well as fostering a spirit of unity. George reaffirmed that SCC is committed to continuing as a key driver of the State's socio-economic development by empowering the entrepreneurial sector, expanding financing access and adapting to new technologies in its services. 'We will ensure that each initiative is inclusive, fair, and focused on the well-being of the people for the benefit of future generations,' he said, while expressing gratitude to everyone involved in making the programme a success. * Follow us on Instagram and join our Telegram and/or WhatsApp channel(s) for the latest news you don't want to miss. * 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
