logo
RM6 mln state govt grant to boost buffalo farming in Limbang, says Deputy Premier

RM6 mln state govt grant to boost buffalo farming in Limbang, says Deputy Premier

Borneo Post28-06-2025
Awang Tengah (fourth right) and other guests during the opening ceremony.
MIRI (June 28): The Sarawak government has approved a grant of approximately RM6 million to the Sarawak Bisaya Charitable Trust to expand buffalo farming in Batu Danau, Limbang.
Deputy Premier Datuk Amar Awang Tengah Ali Hasan, when announcing this, said the funding, approved by Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg, aims to strengthen buffalo breeding efforts and production of buffalo-based products in northern Sarawak, particularly in Lawas and Limbang.
'This is a good initiative because the Sarawak government has decided that Limbang and Lawas will be key areas for buffalo production, with strong community involvement to support the state's broader economic goals,' he said during the opening of Babulang Festival and Buffalo Race 2025 here today.
Awang Tengah, who is State Natural Resources and Urban Development, and State International Trade, Industry and Investment Minister, added that the Maragang Buffalo Breeding Station in Lawas had already demonstrated the potential of producing high-quality buffalo milk.
He encouraged the Bisaya community to seize the opportunity by leveraging the natural strengths of their environment to venture into agriculture and livestock production.
'I believe they are capable of planning and implementing this project effectively. They have experience, and other communities in Limbang can also benefit from this economic opportunity,' he said.
Also present at the event were State Deputy Food Industry, Commodities and Regional Development Minister Datuk Dr Abdul Rahman Ismail; Lawas MP Datuk Henry Sum Agong; Batu Danau assemblyman Dato Paulus Palu Gumbang; Limbang Resident Unos Tambi; and Sarawak Bisaya Association (PBS) president Joseph Blandoi.
Meanwhile, Awang Tengah said the Babulang Festival has grown to become a major annual event in Sarawak's tourism calendar, drawing both local and international visitors.
The festival features traditional Bisaya cultural events such as the buffalo races, Ratu Babulang and Nakod Babulang competitions, raft races, tug-of-war, and other cultural performances. These events celebrate and showcase the vibrant heritage of the Bisaya people.
Held every year in early June, Pesta Babulang is more than just a celebration, it is a deeply meaningful cultural gathering that unites the Bisaya community and highlights their traditions to a wider audience.
'The uniqueness of Babulang not only strengthens community bonds but also promotes Bisaya culture at both national and international levels,' Awang Tengah added. Awang Tengah Babulang Festival buffalo farming limbang
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

New Vietnam Deal Minimal Impact On Yinson's Bottom Line
New Vietnam Deal Minimal Impact On Yinson's Bottom Line

BusinessToday

timean hour ago

  • BusinessToday

New Vietnam Deal Minimal Impact On Yinson's Bottom Line

CIMB Investment Bank Bhd (CIMB Securities) has reiterated a BUY call on Yinson Holdings Bhd with an unchanged target price of RM2.93, citing the group's latest contract win in Vietnam as a strategic boost to its long-term earnings visibility. The counter last traded at RM2.39. The house highlighted that Yinson, through a joint venture with PetroVietnam Technical Services Corporation (PTSC), secured a contract to provide, charter, operate and maintain a floating storage and offloading (FSO) vessel for the Block B Field offshore Vietnam. The deal, signed with Phu Quoc Petroleum Operating Company, carries a firm tenure of 14 years with an optional nine-year extension and is valued at approximately US$600 million over the full 23-year period. The Block B gas development project, which includes Blocks B&48/95 and 52/97, lies in shallow waters about 250km from Ca Mau Province and 400km from the O Mon Power Complex. CIMB Securities noted the project's location outside the disputed nine-dash line in the South China Sea reduces geopolitical risks, making it a secure investment. The development is expected to deliver over 5 billion cubic metres of gas annually to customers in southwest Vietnam, addressing the country's growing energy needs while contributing economic value to stakeholders. The new FSO, a double-hull vessel with storage capacity of about 350,000 barrels, will be built at shipyard facilities in Nantong, China, with first oil targeted for 3Q27. Incorporating dual-fuel technology for improved fuel efficiency and reduced emissions, the unit aligns with Yinson's sustainability goals. CIMB Securities said this marks Yinson's second FSO award in less than a year and its fourth collaboration with PTSC, reinforcing its standing as a leading independent offshore asset operator in the region. While the estimated capex for the project is about US$225 million, Yinson's 49% effective stake and an expected EBITDA margin of 85% could generate an internal rate of return of 9.3%, according to CIMB estimates. However, the house added that the contract's overall impact on Yinson's bottom line and SOP valuation will be minimal, with profit contribution projected between RM6 million and RM22 million over the contract term. CIMB Securities remains optimistic on Yinson's long-term prospects, supported by its sizeable US$19.6 billion order book, which includes potential extensions stretching to 2048. The research house also expects strong earnings growth in FY26 and FY27, driven by full-year contributions from three new floating production storage and offloading (FPSO) units — Maria Quiteria, Atlanta and Agogo. Related

IJM set for strong FY26 on data centre push
IJM set for strong FY26 on data centre push

New Straits Times

time7 hours ago

  • New Straits Times

IJM set for strong FY26 on data centre push

KUALA LUMPUR: IJM Corporation Bhd is expected to post strong results in financial year 2026 (FY26), driven by its bids to build five data centres (DCs) for major global tech firms, CIMB Securities Research said. The company has already secured three DC contracts in Johor worth a combined RM845 million, bolstering its track record and positioning it well for future DC-related jobs in the Klang Valley. With one of the projects slated for delivery in August, CIMB said IJM is well-positioned to take on more DC contracts. "We have raised our FY26 to FY27 new job win forecasts for IJM by 22–33 per cent to RM6 billion per annum as the company focuses on delivering one or two major data centre (DC) bids worth RM1 to RM2 billion each" the research house said in a note. As at March 31, 2025, IJM's outstanding order book stood at a healthy RM6.6 billion, or 2.6 times its FY25 construction revenue. CIMB Securities has raised its FY26–FY27 new order book assumptions for IJM to RM6 billion annually, up 22 to 33 per cent, citing a more visible tender pipeline. "Yet, our projections are still at the lower end of IJM's RM6 to RM8 billion new contract win target for FY26, suggesting further upside to our earnings forecast. "Backed by a strong balance sheet with FY25 net gearing at 26 per cent, we maintain our 'Buy' rating on IJM with a higher target price of RM3.70, up from RM3.40," it added.

Sarawak keen to support Nusantara's development through strategic collaboration
Sarawak keen to support Nusantara's development through strategic collaboration

New Straits Times

timea day ago

  • New Straits Times

Sarawak keen to support Nusantara's development through strategic collaboration

KUCHING: Sarawak has reaffirmed its commitment to contributing to the development of Indonesia's new capital, Nusantara, with a focus on clean energy, infrastructure, and cross-border economic collaboration. This was conveyed by Deputy Premier Datuk Amar Awang Tengah Ali Hasan during a roundtable dialogue held in Balikpapan between the Sarawak government and East Kalimantan on Saturday. Borneo Post reported that key areas of potential collaboration discussed included renewable energy, particularly hydropower and biomass, along with healthcare, education, tourism, infrastructure and trade facilitation. "Nusantara's ambition to achieve full renewable energy by 2045 aligns closely with Sarawak's clean energy aspirations, particularly in hydropower and biomass," said Awang Tengah. He said Sarawak is expanding its clean energy portfolio through hydroelectric, solar and biomass development, and sees synergy in potential collaboration in North and East Kalimantan. To enhance cross-border trade and investment, both parties are working toward the joint development of special economic zones and industrial parks at strategic border points, which are expected to strengthen connectivity and stimulate job creation. Awang Tengah also said that both governments are committed to exploring cooperation in sustainability and the circular economy, including joint conservation efforts, carbon trading initiatives and the adoption of green technologies. The dialogue also touched on efforts to boost tourism between the two regions through improved road networks, development of new airports and establishment of direct flight routes. A key outcome of the meeting was the signing of a Memorandum of Understanding (MoU) between the Sarawak Business Federation (SBF) and the Indonesian Chamber of Commerce and Industry (Kadin) to establish a Joint Task Force focused on strategic development initiatives. "This MoU marks a renewed commitment to collaborative growth, reinforcing our shared vision for a more integrated and prosperous Borneo," Awang Tengah said. He added that the roundtable dialogue had strengthened longstanding historical and cultural ties between Sarawak and Kalimantan, while reflecting Kalimantan's evolving economic landscape and diversification beyond traditional sectors. The Sarawak delegation included Youth, Sports and Entrepreneur Development Deputy Minister Datuk Ripin Lamat, Deputy State Secretary (Economic Planning and Development) Datuk Seri Muhammad Abdullah Zaidel, Economic Planning Unit director Datuk Lester Matthew, and senior government and industry representatives. Their Indonesian counterparts comprised officials from the East Kalimantan Provincial Government, Nusantara Capital City Authority (OIKN), Kadin, and local business associations.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store