Latest news with #MalaysiaMySecondHome
The Star
19 hours ago
- Business
- The Star
Revamped MM2H programme generates RM839.9mil in revenue, says Tiong
KUALA LUMPUR: The revamped Malaysia My Second Home (MM2H) programme has generated a total of RM839.9mil in revenue since the introduction of new criteria last year, says Datuk Seri Tiong King Sing (pic). The Tourism, Arts and Culture Minister said the amount comprises RM597.5mil in fixed deposit investments, RM237.2mil in property investments and RM5.2mil in participation fees. 'These figures not only reflect Malaysia's attractiveness as a preferred destination, but also demonstrate applicants' confidence in the country's economic stability and long-term prospects,' Tiong said in a written parliamentary reply to Datuk Muhammad Bakhtiar Wan Chik (PH-Balik Pulau). He added that the programme's economic spillover also benefits sectors such as education, healthcare and insurance services. To enhance competitiveness and appeal, he said the government has introduced a three-tiered structure for MM2H - Platinum, Gold and Silver - in addition to a special category for applicants under Special Economic or Financial Zones. According to him, each tier is differentiated by criteria such as age, financial capability, duration of stay, eligibility to bring dependents and length of the MM2H pass. 'All applications must be submitted through licensed MM2H agents under the Tourism Industry Act 1992 to strengthen overall programme governance and integrity,' Tiong said. As of June 30, a total of 3,019 applications had been received since the new policy came into effect in October 2024, he said. This includes 48 applications under Platinum, 137 under Gold, 2,434 under Silver and 400 under the Special Economic or Financial Zone category. Out of these, Tiong said 1,294 applicants have received endorsement passes, consisting of 19 in Platinum, 61 in Gold, 1,020 in Silver and 194 in the special zone category.
New Straits Times
a day ago
- Business
- New Straits Times
MM2H generates RM839.9mil for Malaysia's economy
KUALA LUMPUR: The Malaysia My Second Home (MM2H) programme has made a significant contribution to national revenue and the economy, generating a total of RM839.9 million. Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing said this includes RM597.5 million in fixed deposit investments, RM237.2 million in real estate investments and RM5.2 million in participation fees. "The economic spillover from the introduction of the new MM2H policy has also benefited other sectors such as education, healthcare and insurance services. "These figures not only reflect Malaysia's appeal as a destination of choice but also demonstrate participants' confidence in the country's economic stability and long-term prospects," he said in a written parliamentary reply to a question from Datuk Muhammad Bakhtiar Wan Chik (PN–Balik Pulau). Tiong said the ministry received 3,019 applications under the newly announced conditions from October 2024 until June this year. There were 48 applications under the Platinum category, 137 under the Gold category, 2,434 under the Silver category and 400 under the Special Economic Zone or Special Financial Zone category. Of this total, 1,294 applications have received MM2H pass endorsements, comprising 19 participants under the Platinum category, 61 under the Gold category, 1,020 under the Silver category and 194 under the Special Economic/Financial Zone category. New guidelines for the MM2H programme were released in June last year, which lowered the financial requirements for applicants but imposed a new property rule. Applicants are now required to buy a property in Malaysia worth between RM600,000 and RM2 million, depending on the visa category they apply for.
Daily Express
24-07-2025
- Business
- Daily Express
China's Guizhou eyes strategic ties with Sabah
Published on: Thursday, July 24, 2025 Published on: Thu, Jul 24, 2025 Text Size: Liew (first right) in discussion with Liu Baochang and Datuk Frankie Liew. Kota Kinabalu: A delegation from the Guizhou Provincial Foreign Affairs Office visited Sabah on Tuesday with the aim of establishing a friendly provincial-state relationship with Sabah, marking a potential new chapter in bilateral cooperation between China's Guizhou Province and the Malaysian state. The proposal, which centres on strengthening ties in economy, culture, trade, tourism and people-to-people exchanges, was well-received by State Minister of Tourism, Culture and Environment, Datuk Seri Christina Liew, and State Minister of Industrial Development and Entrepreneurship, Datuk Phoong Jin Zhe. The visit, facilitated by the Sabah China Chamber of Commerce (SCCC), saw the Guizhou delegation pay courtesy calls to both ministers to present the province's vision for collaboration. Leading the delegation, Deputy Director-General Liu Baochang outlined Guizhou's strengths, including its status as a hub for new energy, computing power infrastructure, scientific innovation, and liquor production, as well as being home to tech giants like Apple and Huawei, and the globally renowned 500-metre Aperture Spherical Radio Telescope, 'Sky Eye'. He said Guizhou is now actively expanding its reach to Central, South, and Southeast Asia, and sees Sabah as a strategic partner in the region. Liu also extended an invitation for Sabah leaders to visit Guizhou and witness firsthand the province's industrial and technological advancements. 'We hope to deepen and broaden cooperation in economic, cultural, and tourism fields, and establish a formal friendly relationship between our two governments,' Liu said. Christina welcomed the initiative, describing it as an opportunity to connect with one of China's dynamic provinces. 'This visit opens doors for greater understanding and collaboration, especially in areas like eco-tourism and the Malaysia My Second Home (MM2H) programme,' she said. She introduced Sabah's strengths in sustainable tourism, its rich biodiversity, and ongoing efforts to preserve indigenous cultures. She also revealed plans for a 65-acre Cultural Centre in Kinolok, where all 35 indigenous ethnic groups in Sabah will showcase their heritage, further enriching the state's tourism appeal. Meanwhile, Phoong highlighted Sabah's push toward industrialisation and infrastructure development, citing upcoming projects like the Pan Borneo Highway, airport expansions in Kota Kinabalu and Tawau, and the upgrading of Sepangar Port. 'Sabah is undergoing transformation through innovation and infrastructure. We see Guizhou as a valuable partner in this journey,' said Phoong, who also invited the delegation to participate in the 2nd Sabah-China Expo this November. He added that the state is working towards increasing its power supply by 700 megawatts by 2030, including launching Malaysia's first wind power plant. Datuk Frankie Liew, President of the SCCC, praised the high-level composition of the Guizhou delegation, which includes senior officials from the foreign affairs office, commerce department, and municipal governments. 'Sabah and Guizhou share similarities in natural resources and cultural heritage. With strong will from both sides, I believe we can foster pragmatic cooperation,' he said. He noted strong potential in areas such as ecological protection, creative industries, environmental technology, and green development, expressing confidence that the partnership would spur mutual growth. Also present during the visit were SCCC Deputy President Brett Chua, Vice President Ir. Ts. KJ Tan, JP, Datuk Jonathan Koh, JP, and officials from Invest Sabah including CEO Dr. Firdausi Suffian. The visit is seen as a stepping stone toward building a long-term cooperative relationship between Guizhou and Sabah, paving the way for increased economic opportunities and cultural exchange between the two regions. * 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
Borneo Post
23-07-2025
- Business
- Borneo Post
Guizhou hopes to enhance cooperation with Sabah
Phoong (center, front row) with the Guizhou Provincial Government delegation and SCCC representatives. KOTA KINABALU (July 23): A delegation from the Guizhou Provincial Foreign Affairs Office visited Sabah and expressed a desire to establish a friendly provincial-state relationship between Guizhou and Sabah. This proposal received positive responses from Tourism, Culture and Environment Minister Datuk Seri Panglima Christina Liew and Industrial Development and Entrepreneurship Minister Datuk Phoong Jin Zhe. Both sides look forward to greater cooperation and exchanges in areas such as economy, culture, trade, tourism and people-to-people relations, to promote bilateral economic collaboration. Arranged by the Sabah China Chamber of Commerce (SCCC), the Guizhou delegation on Tuesday paid courtesy visits to Christina and Phoong. Deputy Director-General of the Guizhou Provincial Foreign Affairs Office, Liu Baochang, conveyed to both ministers Guizhou's hopes to deepen and broaden cooperation in economic, cultural and tourism fields. He also presented Guizhou's strengths and characteristics, including the province's six major industrial bases – new energy power batteries and materials R&D and production, computing power infrastructure and liquor production, among others – highlighting the integration of scientific innovation and industrial development. In the realm of technology, Guizhou is home to data centers for Apple and Huawei. It also hosts the globally renowned 'Sky Eye' (the 500-meter Aperture Spherical Radio Telescope). Guizhou is advancing its new energy industry with developments in trucks, cars and batteries. In traditional sectors, it is the home of Moutai liquor and has over seven million acres of tea plantations. The province has also made significant achievements in ecological and tourism development. Liu revealed that the Guizhou government is encouraging enterprises to expand cooperation with Central Asia, South Asia and Southeast Asia. Thus, this visit was specifically intended to explore collaborative opportunities and promote the establishment of a friendly provincial-state relationship. He also expressed hope that the two ministers could visit Guizhou in the near future for firsthand experience and to further advance the friendly ties. Christina Liew (first right) having a discussion with Liu Baochang and Frankie Liew. During the meeting, Christina welcomed the Guizhou delegation and expressed her hope for deeper exchanges, particularly in eco-tourism and the Malaysia My Second Home (MM2H) program. 'We appreciate the visit from the Guizhou delegation, which gives us the opportunity to learn more about another beautiful province in China. We also hope there will be more collaborative opportunities in the future,' said the minister, who looks forward to formalizing the establishment of friendly ties. Christina introduced Sabah's tourism advantages, including its natural beauty and abundant resources. She emphasized the state government's commitment to preserving the natural forests and wildlife. Most major tourist sites in Sabah remain largely untouched and natural. She also revealed that the Sabah government is planning to build a 65-acre cultural center in Kinarut to allow the state's 35 indigenous ethnic groups to construct their own iconic structures, preserving and showcasing their unique cultural heritage and enriching Sabah's tourism offerings. During his meeting with the Guizhou delegation, Phoong emphasized that Sabah is moving beyond traditional industries and toward a path of industrialization and diversification, aiming for a leapfrogging development model to spur economic growth. He highlighted the concept of 'No Wealth Without Industry' and underscored the importance of industrialization for Sabah's economic future. The state government is actively enhancing infrastructure. All Sabah-related packages under the Pan Borneo Highway are expected to commence this year. Upgrading works at Kota Kinabalu International Airport will begin within the next one–two months, and Tawau Airport will begin its enhancement project next month. He also shared that Sepangar Port will undergo upgrades that will double its container handling capacity from 500,000 to 1.2 million TEUs annually upon completion. In terms of electricity supply, the state government plans to increase capacity by 700 MW by 2030, including the construction of Malaysia's first wind power plant. 'Sabah is transforming through new technologies!' said Phoong. He also extended an invitation to the Guizhou delegation and enterprises to participate in the Second Sabah-China Expo on November 21–23 this year. Datuk Frankie Liew, president of the Sabah China Chamber of Commerce (SCCC), noted that the Guizhou delegation is a high-level team comprising leaders from several important agencies including the Foreign Affairs Office, Department of Commerce, Federation of Industry and Commerce, and municipal governments. He believes this visit will foster pragmatic cooperation and help identify future opportunities. 'Combining the resources and strengths of Guizhou and Sabah, I'm confident we can enhance economic growth on both sides,' said Frankie. He remarked that although Guizhou and Sabah are geographically located in different regions of China and Malaysia, they both enjoy rich natural resources, diverse cultural heritages, and robust tourism assets. He hopes both sides can explore more platforms and opportunities for cooperation in promotion, ecological protection and cultural exchanges. 'In the future, we hope to deepen cooperation in cultural and creative industries, environmental technologies, and jointly promote green development to build a better tomorrow,' added Frankie. Also present at the meeting were SCCC Deputy President Brett Chua, Vice Presidents Ir. Ts. KJ Tan, JP, Datuk Jonathan Koh, JP, Chiew Heng Hock and Tan Siew Ling, and CEO of Invest Sabah, Dr Firdausi Suffian.
The Star
20-07-2025
- Business
- The Star
China, Taiwan investors boost Sabah-MM2H applications
KOTA KINABALU: Sabah's Malaysia My Second Home (Sabah-MM2H) programme has seen a rise in applications from investors in China, Taiwan and other countries, said Datuk Seri Christina Liew ( pic ). Liew, who chairs the Sabah-MM2H programme, credits the increase to the efforts of registered agents since the programme's launch. 'We've received more applications from China, Taiwan and several other countries. We encourage you to continue promoting the programme overseas through roadshows and other platforms,' she told 25 registered agents during a meeting on Thursday. The state Tourism, Culture and Environment Minister said Sabah hopes to attract more foreign applicants to invest in property and make the state their second home. During the meeting, she informed the agents about several amendments to the programme criteria approved by the state Cabinet. Among the changes is the lowering of the minimum age for applicants from 30 to 25. Successful applicants can now also place the required fixed deposit in any of the 12 authorised commercial banks. They may withdraw up to 50% of the deposit after 12 months for education or medical expenses. Liew said agents responded positively to the changes, viewing them as more appealing to potential applicants. She also noted several concerns raised by agents, particularly regarding the classification of eligible properties for purchase. 'These matters will be discussed in our next monthly meeting,' she assured them. Liew added that the Sabah-MM2H Committee has been efficient in processing and approving overseas applications.
