Latest news with #RM13.5
New Straits Times
3 days ago
- Business
- New Straits Times
Sarawak recorded RM17.6 billion in approved investment last year
KUCHING: Sarawak recorded RM17.6 billion in approved investments across the services, manufacturing, and primary sectors last year, Deputy Premier Datuk Awang Tengah Ali Hasan said today. He said RM13.5 billion, or 76.6 per cent of the total, came from domestic direct investment (DDI), while foreign direct investment (FDI) contributed RM4.1 billion, or 23.4 per cent. "The investments, both from DDI and FDI, involved 376 projects and are expected to create over 7,800 jobs," said Awang Tengah, who is also the state International Trade, Industry and Investment Minister, in his winding-up speech in the State Legislative Assembly here today. He said investments in the services sector accounted for RM7.6 billion, or 43 per cent, closely followed by manufacturing at RM7.5 billion (42.9 per cent), while the primary sector received RM2.5 billion (14.1 per cent). Despite similar investment values, the manufacturing sector was the largest contributor to employment, generating 6,430 jobs or 81.8 per cent of total jobs created. "The manufacturing sector recorded key investments in chemical products (urea, melamine, polycrystalline silicon, and biodiesel) worth RM2.9 billion; electrical and electronic (E&E) products at RM1.2 billion; and non-metallic products (clinker, concrete, and cement) at RM800 million," he said. In the first quarter of this year, the manufacturing sector attracted RM681 million in investments across 24 projects, expected to create more than 900 jobs. Awang Tengah said 115 manufacturing and related services projects were approved last year, with over 65 per cent already successfully implemented, reflecting strong investment facilitation. He added that ongoing investments in industrial infrastructure, including industrial parks, logistics, and digital connectivity, would reinforce Sarawak's long-term growth and competitiveness, positioning it as a prime destination for investors seeking stability and strategic market access. Investor confidence, he noted, remains robust, as reflected in reinvestments totalling RM6.8 billion within the manufacturing sector, primarily in chemical and basic metal industries. "This underscores strong investor confidence in Sarawak's current business environment and affirms our growing reputation as a competitive and reliable investment destination," he said. Awang Tengah also said Sarawak's push for renewable energy, especially solar power, has garnered strong investor interest, with leading potential investors from Abu Dhabi, China, and Singapore currently conducting feasibility assessments. He added that the International Trade, Industry and Investment Ministry is actively streamlining regulatory processes, reducing bureaucracy, and improving policy transparency to enhance business efficiency. "We are adopting a whole-of-government approach to ensure a unified and strategic advancement of Sarawak's development priorities. "Concurrently, we are addressing critical gaps in the investment ecosystem, including upgrading key infrastructure and investing in talent development to better align with industry needs. "These efforts reaffirm our commitment to position Sarawak as a preferred destination for high-quality investments, now and in the years to come," he said. He added that Sarawak continues to attract investors due to its political stability, rich natural resources, strategic location, and investor-friendly policies.
Borneo Post
3 days ago
- Business
- Borneo Post
Sarawak allocates RM13.5 bln to Regional Development Agencies for 1,571 projects
Uggah says that as of April 2025, 82 projects or nine per cent had been completed and that the remaining 819 projects or 91 per cent were in various stages of implementation. – Ukas photo KUCHING (May 28): Sarawak has provided an allocation of RM13.5 billion to all nine Regional Development Agencies in the state with each agency receiving an allocation of RM1.5 billion, said Deputy Premier Datuk Amar Douglas Uggah Embas. The State Minister of Finance and New Economy II said of the RM13.5 billion, RM7.5 billion was allocated under Sarawak's annual budget to finance the implementation of 901 development projects under the supervision of the five Regional Development Agencies. 'Among them are the Sri Aman Development Agency (SADA), Betong Division Development Agency (BDDA), Rajang Delta Development Agency (RADDA), Greater Kuching Development Coordinated Agency (GKCDA), and Mid Rajang Regional Development Agency (MiRRDA). 'Of the total, 894 projects are physical projects, while seven are non-physical projects,' he added when delivering his winding-up speech for the ministry at the State Legislative Assembly sitting, today. He said that as of April 2025, 82 projects or nine per cent had been completed and that the remaining 819 projects or 91 per cent were in various stages of implementation. In addition, he also said RM6.0 billion has been allocated under Alternative Financing for projects under the supervision of regional development agencies. 'These include the Northern Regional Development Agency (NRDA), the Highland Development Agency (HDA), the Upper Rajang Development Agency (URDA), and the Integrated Samarahan Regional Development Agency (IRSDA). 'To date, a total of RM3.19 billion has been spent with 601 projects completed,' he said. Uggah said Sarawak had established various Regional Development Agencies to bridge the development gap between urban and rural areas and accelerate infrastructure development throughout Sarawak. The initiative, he said, was implemented through a bottom-up approach in project planning and implementation. Regarding the performance of project implementation under Alternative Financing, Uggah said that this year the Sarawak Government had allocated a total of RM8.12 billion for the implementation of 1,571 projects. 'As of April 2025, a total of RM1.11 billion or 14 per cent of the total allocation has been spent,' he said. He said that of the total, 1,514 projects were categorised as physical projects while 57 projects were non-physical. 'To date, 974 projects or 61 per cent have been completed, while the remaining 597 projects or 39 per cent are in various stages of implementation,' he said. Uggah said in total, a total of RM16.0 billion has been spent until April 2025 for the implementation of major development projects throughout Sarawak. douglas uggah DUN regional development agencies
New Straits Times
3 days ago
- Business
- New Straits Times
FGV posts RM36.5mil Q1 profit on stronger CPO prices
KUALA LUMPUR: FGV Holdings Bhd returned to profitability in the first quarter ended March 31, 2025 (Q1 FY25). The company posted a net profit of RM36.5 million compared to a net loss of RM13.5 million in the same period last year, lifted by higher crude palm oil (CPO) prices. Its revenue rose 10.8 per cent to RM5 billion for the period from RM4.5 billion previously, driven by a higher average crude palm oil (CPO) price. FGV said the average crude palm oil (CPO) price realised for the quarter was RM4,784 per tonne, higher than RM3,907 per tonne last year. In a statement, the company said the plantation division remained the main revenue contributor, supported by a six per cent improvement in fresh fruit bunch (FFB) yield and a 24 per cent increase in FFB price. Despite the current higher CPO price of about RM4,700 per tonne, FGV expects the price to ease to around RM4,000 per tonne in the coming months, as supply improves with favourable weather, seasonally higher cropping cycles and the absence of festive-related demand. Group chief executive officer Fakhrunniam Othman said the steady growth compared to the same quarter last year reflects the resilience of operations and the positive impacts of ongoing agronomic improvements. "While challenges persist across several business segments, we are focused on driving operational efficiency, unlocking value from underperforming assets and further enhancing integration across the group to ensure long-term, sustainable growth across plantation, oils and fats, sugar, logistics and support and the consumer products divisions," he added.
The Sun
09-05-2025
- The Sun
Scammers target teachers, retirees through social media posts
JERTIH: Teachers and retirees who share personal updates such as retirement plans or feelings of loneliness on social media are increasingly being targeted by online scammers. Terengganu Deputy Education Director Kamsah@Kamal Mohamed said such posts often attract scammers who exploit victims through tactics like love scams, fake investment offers, and bogus loan schemes. 'Many of the victims are educators and retirees. From January 2023 to April this year, police have recorded 609 online scam cases in Terengganu, with total losses amounting to RM13.5 million,' he said. He was speaking at an online scam awareness programme held today at SMK Tengku Mahmud here, organised by the National Scam Response Centre (NSRC). 'In Besut alone, 18 scam cases were recorded last year, with losses totalling RM457,438. So far this year, eight more cases have already been reported, involving RM107,157 in losses. 'Several of these victims were teachers,' he added. He expressed hope that awareness programmes like this would help teachers remain vigilant and avoid falling prey to online scams.
The Sun
09-05-2025
- The Sun
Teachers, retirees targeted by online scammers in Terengganu
JERTIH: Teachers and retirees who share personal updates such as retirement plans or feelings of loneliness on social media are increasingly being targeted by online scammers. Terengganu Deputy Education Director Kamsah@Kamal Mohamed said such posts often attract scammers who exploit victims through tactics like love scams, fake investment offers, and bogus loan schemes. 'Many of the victims are educators and retirees. From January 2023 to April this year, police have recorded 609 online scam cases in Terengganu, with total losses amounting to RM13.5 million,' he said. He was speaking at an online scam awareness programme held today at SMK Tengku Mahmud here, organised by the National Scam Response Centre (NSRC). 'In Besut alone, 18 scam cases were recorded last year, with losses totalling RM457,438. So far this year, eight more cases have already been reported, involving RM107,157 in losses. 'Several of these victims were teachers,' he added. He expressed hope that awareness programmes like this would help teachers remain vigilant and avoid falling prey to online scams.
