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CEO Masterclass Sabah 2025: Right mindset needed for economic growth: Masidi
Published on: Mon, Jul 14, 2025
By: Sherell Jeffrey Text Size: Masidi and the organisers posing in a photo with invited panels and Sabah business leaders. Kota Kinabalu: State Finance Minister Datuk Seri Masidi Manjun said the government is committed to creating a business-friendly State and driving economic growth through collaboration with local private companies and stakeholders. 'The government will continue to find ways to assist you,' he told local business leaders at the CEO Masterclass Sabah 2025: Scale Beyond Limits held at the Sabah International Convention Centre, here, Thursday. 'The most important thing is having the right mindset and creating an ecosystem that is business friendly and comfortable for people to do business and grow their business. 'The business of the government is not to compete with the private sector but rather to facilitate the innovation of privately owned companies to make more money,' he said. The event was co-organised by the Sabah Young Business and Industry Leaders (Sybil) and the Malaysian International Chamber of Commerce and Industry (MICCI) in support of the Sabah Trade and Tourism Office Singapore with Daily Express as the media partner. While acknowledging infrastructure issues in Sabah, Masidi said the government's support goes beyond just solving infrastructure problems but also creating the right environment for businesses to thrive. 'We are continuing to try to improve, and I know it is a huge challenge, but I am sure one day we can say that we can tackle the problem and solve the problem together,' he said. He also pointed out the important need for unity among all stakeholders for moving forward. 'We should be united. I know that we have friends from all generations, but until we unite, help each other and look at the needs while complementing each other's biggest assets, it will be difficult for us to go forward,' Masidi said. Additionally, he pointed out the importance of collaboration over competition, saying that success comes from working together rather than from individual efforts. 'If you talk about scaling the boundaries, it is about networking and creating something that we can do together. Instead of just me or you. It should be us,' he said. He also spoke about the importance of adaptability in today's fast-changing business environment. 'Adaptability means being able to weather a storm because you are adaptable to changing circumstances. Things can change overnight. So, we need to be ready. 'We need to have good collaborations and networking because we need adaptability. We must work together and be more adaptable to changing circumstances. 'I sincerely believe that Sabahans have full potential, a lot of potential to grow. With the right mindset and collaborative approach, the State can overcome its challenges and unlock its full economic potential,' he said. Meanwhile, MICCI Vice President Datuk Lee Swi Heng said the event captures the collective vision to empower each other towards unlocking potential and pursuing sustainable growth far beyond conventional boundaries. 'We hope that the CEO Masterclass 2025 has not only offered valuable perspectives but has also ignited within each participant the courage to dream bigger, act bolder and confidently tackle the exciting challenges of scaling your businesses,' he said. A unique feature of this year's masterclass was the inclusion of 'Human Books', comprising successful entrepreneurs who shared their personal journeys and practical business insights with participants. The format provided attendees with direct access to real-world experiences and actionable advice. 'As the nation's oldest chamber, MICCI remains dedicated to empowering businesses to grow and scale beyond boundaries. We achieve this by facilitating strategic networking opportunities and nurturing a dynamic, supportive ecosystem for passionate entrepreneurs,' Lee 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.
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Employers or employees requiring further information can contact the JTKSM via its hotline at 03-8886 5192 / 5937, by email at [email protected], or at any nearby JTK offices. An employers' group and a business association expressed concern over the impact the additional public holiday may have on business operations. The Malaysian Employers Federation said the extra public holiday warrants careful reconsideration because of its financial and operational impact as such holidays disrupt production schedules, logistics chains, and service continuity. 'This disruption results in lower output, delays in fulfilling delivery commitments, increased costs from rescheduling or deferring operations, and reduced overall productivity, especially for SMEs already operating on tight margins,' MEF said. It also said additional public holidays translate to increased wage bills, with preliminary estimates suggesting that each extra holiday could cost Malaysian employers over RM1 billion collectively. 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FMM said many businesses remain unclear whether the holiday falls under Section 8 or Section 9 of the Holidays Act 1951, which would affect their obligations under the Employment Act 1955. 'This is critical to provide legal clarity and enable businesses to plan operations, workforce scheduling, and ensure compliance with the Employment Act 1955,' said FMM president Tan Sri Soh Thian Lai. The group warned that manufacturers operating on shift-based or continuous cycles face higher risks from such unplanned disruptions. The four-day stretch from Saturday to Tuesday may force production lines to halt and restart, which FMM said would be inefficient and costly. It added that the cascading effects on supply chains, logistics and delivery timelines would be especially difficult for small and medium-sized enterprises (SMEs) to manage. FMM advised employers to prepare buffer stock, adjust schedules, and communicate with workers, customers and suppliers to minimise operational risks. The group also reminded businesses to monitor the gazette and consider using the substitution option under Section 8, if applicable. It then reiterated its view that 'policy announcements must reflect clarity, consistency, certainty, and credibility,' adding that ad hoc decisions could undermine Malaysia's attractiveness to investors. * 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
