Latest news with #RM4.1
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.
The Star
14-05-2025
- Business
- The Star
Sunway Healthcare IPO expected to drive its high capex growth
KUALA LUMPUR: Sunway Healthcare Group's (SHG) planned initial public offering (IPO) is unlikely to significantly dilute earnings, with proceeds expected to drive the group's high capital expenditure (capex) growth, particularly in its property segment, according to Hong Leong Investment Bank Bhd (HLIB). The investment bank said in a note today that SHG targeted its IPO by the end of financial year 2025 (FY2025) or the first half of FY2026, but healthcare would remain a core earnings pillar and it is expected that Sunway Bhd (Sunway) would retain a significant stake and consolidate SHG's results. "With strong growth ahead from hospital expansions and rising foreign patient volumes, the listing is unlikely to cause a material earnings dip. "Sunway's property and construction segments are entering an earnings upcycle, hence, it should help to mitigate any potential earnings impact from the partial healthcare dilution,' it said. The opening of Sunway Medical Centre (SMC) Damansara in December last year and SMC Ipoh in April this year shows that SHG continues to increase its hospital portfolio from three to five. HLIB said foreign patients offer substantial earnings potential, generating over four times the revenue per bed and significantly higher earnings before interest, taxes, depreciation and amortisation (EBITDA) margins compared to domestic patients. "Recognising this potential, SHG targets to scale up its foreign patient mix to 15 per cent in 2025 (from around 10 per cent in 2024). "This should position SMC Sunway City (SMCKL) as an emerging regional medical tourism hub,' it said. Meanwhile, the investment bank said that in FY2024, Sunway recorded its highest-ever property sales at RM3 billion and is setting a higher goal of RM3.6 billion for FY2025 supported by a RM4.1 billion launch pipeline and the group is entering its busiest year in Johor with RM1.26 billion in planned launches. "In Sunway City Iskandar Puteri (SCIP), while residential launches are modest, the group is accelerating industrial, commercial and tourism components to lay the groundwork for recurring income and residential growth. "Meanwhile, Sunway is also marking a new milestone in Singapore with four active projects, the most in its history," it said. HLIB has maintained its forecast for the company with a 'buy' rating with an unchanged target price (TP) of RM5.70 As at 11.37 am, Sunway's share price increased one sen to RM4.90, with 1.56 million shares traded. - Bernama
