Selangor Launches First Phase Of Silp Worth RM500 Mln
Menteri Besar Datuk Seri Amirudin Shari said the project, expected to begin by the end of 2026, will also complement the state's food security initiatives, such as the Selangor Food Warehouse.
'The first phase will involve the construction of a centralised jetty, about 30 to 40 fishing boat parking bays and serviced apartments.
'Subsequent phases will include facilities for boat repairs, maintenance and construction, followed by the development of tourism zones,' he told reporters after the launch of the SILP project here today.
Amirudin said the project is expected to boost the state's agricultural output by five per cent, positioning Selangor's west coast as a long-term economic growth hub.
He said that SILP is also intended to serve as a model for effective fisheries ecosystem management for other states, similar to the padi cultivation system practised in Sekinchan.
'At present, agriculture, including fisheries, contributes only one per cent to Selangor's economy.
'Together with the approved prawn farming ponds in Sabak Bernam and Kuala Selangor and the agricultural development areas being planned by the Selangor Agricultural Development Corporation, we project a five per cent increase in the upcoming Selangor Plan, either the second or third plan,' he said.
The first phase of the SILP project, spanning 33.9 hectares and expected to be developed over a five-year period, will include a fish auction hall, a commercial fish market, a tide-adaptive dock, a logistics hub for seafood distribution and maritime services, as well as shoreline upgrades.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Borneo Post
9 minutes ago
- Borneo Post
Petronas continues to review asset portfolios with value driven decision-making
Petronas will continue to evaluate more potential assets to be added to its portfolio as part of its adjustment exercise. — Bernama photo KUALA LUMPUR (Aug 11): Petroliam Nasional Bhd (Petronas) continues to review its asset portfolio periodically, with parameters continuously adapted and set to ensure it delivers value. Petronas executive vice president and chief executive officer of upstream Mohd Jukris Abdul Wahab explained that Petronas reviews its portfolio from time to time to ensure that it meets certain standards set to create and deliver value. 'We need to make sure that our assets in the portfolio remains authentic. As I said, we have redefined our portfolio characteristics to meet certain standards,' he said during Petronas' media briefing on upstream asset management on Monday. 'Or example, it has to meet oil price at US$50 or less. Anything that doesn't support it enough, the big question mark that we have to answer is do we keep this asset or not? 'And the portfolio also has to deliver certain operational efficiency. Any portfolio review that we are doing today has to be guided by some of these parameters – the value that it delivers and the upside that it still has – all these criteria have to be taken into consideration when we decide what we do with some assets that doesn't meet the price parameters.' He explained that when certain Petronas assets become outliers, it was time to be honest with priorities. He noted that some of these assets will require an excessive capital requirement in order to function properly. 'That's not the best way to deliver value. It has to employ more capital to deliver more value from the asset,' he said. 'That's not the best way to do business. We have to bring in partners to collaborate with us to make sure that the partners take some risks out of us. 'We have actually slashed our presence in Sudan, for example, and also in Mexico and Afghanistan. This was consciously decided and guided by the parameters that we set ourselves. And if the time comes to do that, we will do it. 'When we take a decision to get up from a certain set, it is not a spontaneous decision. It has been carefully evaluated over the years.' Jukris also highlighted that Petronas continues to evaluate more potential assets to be added to its portfolio as part of its adjustment exercise. 'We are not going to just leave the portfolio and do nothing. That is not how we sustain our business in the long run. But I must say that we are still aggressive on exploration. 'As we speak, we are doing well in Suriname. We have entered into a joint study agreement in Indonesia, Vietnam, Turkmenistan and Oman. These are some of the work that we are currently doing to make sure that the funnel will always be filled by exploration discoveries. To prepare us for the long run.' He also underscored their drive towards cost efficiency as crude oil prices currently hover around US$64-US$65 per barrel, with expectations for the prices to remain at this level for quite some time. 'What we have done over the last 50 years may not allow us to be more competitive in the coming years. As far as upstream is concerned, we take a hard look into our operational practises. 'The environment around us is not very kind to us. The tariff imposition affects the supply chain. It affects the way we do business. How do we respond to these external challenges? The only thing that we can do is to respond internally. 'How do we drive ourselves to become more cost efficient? That will be some fundamental change that has to happen in terms of how we do things. This is what we are currently doing now. The focus now is more about doing things differently. 'The focus now for us is to drive the efficiency. Some of the processes that we have been adopting over the years, some of the standards that we have been adopting over the past few years, those have got to be challenged and have got to be rebuilt.'
The Sun
39 minutes ago
- The Sun
Malaysia's unemployment rate steady at 3.0 pct in June 2025
PUTRAJAYA: The unemployment rate in Malaysia held steady at 3.0 percent in June 2025, with the number of unemployed individuals declining to 518,700. The latest Labour Force Statistics for June and Q2 2025 were released by the Department of Statistics Malaysia (DOSM). Chief Statistician Datuk Seri Dr Mohd Uzir Mahidin stated that the labour market continued its positive growth momentum. He attributed this to the sustained expansion of the national economy. Employment levels saw a steady rise while unemployment further declined. The labour force increased by 0.3 percent month-on-month to 17.43 million persons in June. The labour force participation rate (LFPR) remained stable at 70.8 percent. For Q2 2025, the labour force grew by 0.8 percent to 17.37 million persons compared to Q1. The LFPR in Q2 rose slightly by 0.1 percentage points to 70.8 percent. Employed persons increased by 0.9 percent to 16.85 million in Q2. Unemployment numbers dropped by 1.0 percent to 520,900 persons. The unemployment rate for Q2 fell by 0.1 percentage points to 3.0 percent. Mohd Uzir expects Malaysia's labour market to stay stable in the coming months. He cited rising domestic demand, higher productivity, and increased job opportunities as key factors. Strategic investments in technology and other sectors will further support growth. Challenges such as talent migration and global trade tensions remain. Government policies on digitalisation and technical training aim to sustain long-term growth. - Bernama
The Star
an hour ago
- The Star
Malaysia's wholesale, retail trade sales up 4.4% RM154.3bil in May
KUALA LUMPUR: Malaysia's wholesale and retail trade registered a total sales of RM154.3 billion in May 2025, reflecting a 4.4 per cent growth year-on-year (y-o-y), according to the Department of Statistics Malaysia (DOSM). In a statement today, its chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the growth was primarily supported by the performance of the retail and wholesale trade sub-sectors. "The retail trade sub-sector registered RM67.1 billion in sales, an increase of RM3.1 billion or 4.9 per cent y-o-y. "The wholesale trade sub-sector recorded RM68.2 billion, up RM3.1 billion or 4.7 per cent y-o-y, reflecting steady business activity across supply chains,' he said. May's online retail sales showed an increase, with the index rising by 2.2 per cent y-o-y, he said. "However, after seasonal adjustment, the index recorded a month-on-month decline of negative 3.4 per cent,' he said. In terms of volume index, he said wholesale and retail trade posted a higher y-o-y increase at 4.1 per cent, driven by the wholesale trade sub-sector, which rose by 5.8 per cent, followed by retail trade with a 3.7 per cent increase. Complementing the trade growth, Mohd Uzir said Malaysia's digital payment transactions recorded a strong y-o-y gain in May 2025. "E-money transactions surged by 70.2 per cent y-o-y to RM21.5 billion, reflecting heightened adoption of digital payments. "Real-time retail payments platform transactions amounted to RM289.4 billion, underscoring the growing demand for instantaneous payment solutions. "Meanwhile, financial process exchange transactions expanded by 21.1 per cent to RM39.2 billion, driven by increased online banking activity,' he said. The chief statistician said credit card usage remained stable at RM18.7 billion, while debit card transactions registered an eight per cent growth to RM14.1 billion. "Collectively, these trends highlight the sustained expansion of digital payment channels, in line with evolving consumer preferences and the broader digitalisation of Malaysia's payment infrastructure,' he added. - Bernama
