Latest news with #StatutoryFund
The Sun
6 days ago
- Business
- The Sun
Sabah assembly approves RM1.18 billion supplementary budget for 2025
KOTA KINABALU: The Sabah State Legislative Assembly has approved a RM1.18 billion Supplementary Supply Bill for 2025, ensuring smooth administrative operations until the assembly's automatic dissolution on November 11. State Finance Minister Datuk Seri Masidi Manjun tabled the bill, which was passed via majority voice vote after debates by 26 assemblymen. The allocation is divided into six categories, with RM600 million designated for contributions to the Statutory Fund. Other key allocations include RM204 million for administrative expenses, RM195 million for operational costs, RM84 million for domestic grants, RM54.4 million for investments, and RM50.7 million for special allocations. Masidi clarified that the Finance Ministry received an additional RM789.1 million, including RM600 million for the Statutory Fund. Of this, RM250 million will reduce the Development Account deficit without affecting cash flow. Another RM185.5 million is allocated for general treasury services, RM3.6 million for ministry operations, and RM150 million for the Statutory Trust Fund to maintain roads and bridges statewide. A RM200 million provision under the Special State Trust Fund will support initiatives like SENTOSA (student aid), SUBFLY (airfare subsidies), SUKSES (school activities), and infrastructure repairs. Additionally, RM54.4 million from the treasury services budget will fund equity investments, RM89.1 million for infrastructure, and RM30 million for Kota Kinabalu City Hall. The supplementary budget also includes RM147.6 million for the Works Ministry, RM94.4 million for the Chief Minister's Department, and RM55.7 million for the Agriculture, Fisheries and Food Industry Ministry. Smaller allocations cover housing, community development, and youth programs. For development expenditure, RM416 million is allocated across 83 projects under 10 ministries. The Works Ministry receives the largest share (RM254.9 million), followed by Rural Development (RM82.5 million). The assembly resumes tomorrow. – Bernama
Barnama
6 days ago
- Business
- Barnama
Sabah Assembly Passes RM1.18 Billion Supplementary Supply Bill
REGION - SABAH > NEWS KOTA KINABALU, July 7 (Bernama) -- The Sabah State Legislative Assembly today passed the Supplementary Supply Bill 2025 involving an allocation of RM1.18 billion. The bill, tabled by State Finance Minister Datuk Seri Masidi Manjun, was passed with a majority voice vote after being debated by 26 assemblymen. It is aimed at facilitating the state government's administrative operations until the end of the year, before the automatic dissolution of the 16th Sabah State Legislative Assembly on Nov 11. bootstrap slideshow Masidi, when tabling the bill, said the additional allocation was divided into six spending categories, including RM600 million for contributions to the Statutory Fund, RM204 million for administrative expenses, and RM195 million for operational expenses. 'In addition, RM84 million is allocated for domestic grants, RM54.4 million for investment purposes, and RM50.7 million for special allocations,' he said. Masidi said the Finance Ministry received an additional allocation of RM789.1 million, which included RM600 million for contributions to the Statutory Fund, with RM250 million of that amount channelled to the Development Fund to reduce the Development Account deficit without involving cash flow. In addition, he said RM185.5 million was allocated for general treasury services, RM3.6 million for the Finance Ministry's operating expenses and RM150 million for the Statutory Trust Fund to carry out road and bridge maintenance projects statewide. RM200 million has been allocated for the Special State Trust Fund to support initiatives such as Sumbangan Mahasiswa Pengajian Tinggi Dalam Sabah (SENTOSA), subsidies for Sabah student airfare (SUBFLY), contributions for Sabah school activities (SUKSES), as well as the construction and repair of infrastructure, he added. According to Masidi, of the RM185.5 million set aside for general treasury services, RM54.4 million was allocated for equity investments, RM89.1 million for infrastructure projects and RM30 million in domestic grants for Kota Kinabalu City Hall (DBKK).
