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Daily Express
14 hours ago
- Business
- Daily Express
Sabah tops Malaysia in Q1 manufacturing investment with RM7.3 billion
Published on: Friday, June 20, 2025 Published on: Fri, Jun 20, 2025 By: Sisca Humphrey Text Size: Phoong receives a memento from SME Sabah president Deledda Than KOTA KINABALU: Sabah recorded RM7.3 billion in manufacturing investments in the first quarter of this year, making it Malaysia's top destination for the sector. Industrial Development and Entrepreneurship Minister Datuk Phoong Jin Zhe said local SMEs must not rely solely on foreign capital and should industrialise to remain competitive. Advertisement Phoong announced RM15 million in state funding to help SMEs automate, upgrade machinery, and expand while noting Sabah's exports rose 11 per cent up to May. He also highlighted Sabah's ongoing industrial push, including a 100MW Battery Energy Storage System in Lahad Datu and AirAsia's new KK–Taipei–Fukuoka route. Phoong cautioned against implementing overlapping federal policies and stressed that economic reforms must not burden SMEs as Sabah's unemployment rate improved to 6.7 per cent. * 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
13-06-2025
- Business
- Borneo Post
Sabah records RM10.9 billion in investments in Q1 2025, ranks third nationally
Phoong speaking at the press conference. KOTA KINABALU (June 13): Sabah recorded a total of RM10.9 billion in approved investments in the first quarter of this year, surpassing the state's total investment figure for the entire year of 2024. According to the Malaysian Investment Development Authority (MIDA), the investment performance from January to March places Sabah third nationally, behind Selangor and Kuala Lumpur. State Industrial Development and Entrepreneurship Minister Datuk Phoong Jin Zhe said Foreign Direct Investment (FDI) was the main contributor, accounting for RM6.6 billion or 61 percent of the total, while Domestic Direct Investment (DDI) amounted to RM4.29 billion or 39 percent. The manufacturing sector was the top performer, recording RM7.3 billion in investments — the highest among all states for this quarter. Of this, RM6.59 billion or 91.3 percent came from foreign investors, with the remaining RM711 million or 9.7 percent from domestic sources. The services sector followed with RM2.83 billion, while the primary sector attracted RM757.1 million. Phoong said the figures reflected continued investor confidence in Sabah's economic growth potential and its conducive business ecosystem. 'Despite global economic uncertainties and geopolitical pressures, Sabah remains a competitive investment destination trusted by both foreign and domestic investors,' he said at a press conference at Wisma Kewangan today. He added that the success was due to investor-friendly policies and the state government's strong commitment to stimulating industrial development. 'The state government is committed to strengthening the investment ecosystem and welcoming more investors to achieve sustainable and inclusive economic development for Sabah,' he said.
New Straits Times
17-05-2025
- Entertainment
- New Straits Times
#SHOWBIZ: Fattah Amin sympathises with ex-wife Fazura over debt claims
KUALA LUMPUR: Actor Fattah Amin has declined to comment on allegations that his former wife, Nur Fazura's company, owes RM4.65 million to a headscarf manufacturing factory. Fattah, whose full name is Abdul Fattah Mohd Amin, instead expressed his sympathy and well wishes for Fazura. He added that he hoped things would be made easier for Nur Fatima Aisya's mother. "I wouldn't presume to comment, but having heard this news, I do feel sympathy and wish her all the best," he told BH Online. "I can't really comment much as it's a personal matter. You see, we never know when we might face our own trials. When we do, we wouldn't want others talking nonsense without knowing the full story. "As outsiders, the best we can do is offer our prayers and hope things are resolved smoothly. It's not just anyone; she is the mother of my child, so I naturally pray for the best," he said. Fattah mentioned that he was unaware of the news before it was reported in the local media. "I only found out when the news broke; I genuinely had no prior knowledge of this," he said. Previously, news outlets reported that the popular actress and businesswoman's company was allegedly in debt to the tune of RM4.65 million to the headscarf manufacturer, Obor Holding Sdn Bhd. It's understood that the manufacturing firm has initiated legal action following Pink Fate Sdn Bhd's alleged lack of cooperation. Fazura is widely known as a co-founder of Pink Fate Sdn Bhd. Obor Holding Sdn Bhd, which owns the Feline Malaysia factory, claims to have supplied Pink Fate Sdn Bhd with headscarves valued at RM7.3 million since June 2022. However, they allege that Pink Fate has only paid RM2,680,167.90, leaving a balance of RM4.65 million outstanding to Feline. Obor Holding also stated that they began experiencing difficulties in receiving payments from December 2023. As of now, Fazura has not released any statement regarding this matter.
New Straits Times
06-05-2025
- Business
- New Straits Times
Malaysia's financial markets remain resilient amid global volatility: FMC
KUALA LUMPUR: Malaysia's financial markets have remained stable and orderly despite persistent global volatility, the Financial Markets Committee (FMC) said in its latest assessment. This assurance comes as global investors react to the United States' sweeping tariff announcement on April 2, 2025, which has shaken market sentiment and renewed fears over the direction of global trade policy. FMC chairman and Bank Negara Malaysia deputy governor Adnan Zaylani said the strength of Malaysia's markets has allowed regulators to maintain their focus on long-term development. "The Malaysian financial markets have remained orderly despite the volatile external environment. This allows us to focus our efforts on market development initiatives that will further enhance investors' experience in our markets. "Nonetheless, we remain vigilant amid the rapidly evolving global situation," said FMC chairman and Bank Negara Malaysia deputy governor Adnan Zaylani. The US tariff move has triggered jitters among global investors, leading to cautious investment sentiments and renewed concerns over global trade policy directions. Despite initial shocks, Malaysia's financial indicators have shown encouraging signs. "The ringgit has appreciated by 2.3 per cent year-to-date against the US dollar, largely driven by broad-based dollar weakness across global markets," FMC said in a statement. Meanwhile, the domestic equity market, represented by the FBM KLCI, initially saw a sharp 8.2 per cent drop in reaction to the tariff news but recovered significantly following a temporary pause in its implementation. As of April 25, the index stood just 1.1 per cent below its level at the start of April. The foreign exchange market remains robust, with average daily turnover at US$18.8 billion so far this year—marking a 6.8 per cent year-on-year increase, according to the committee. This sustained activity continues to support corporate forex needs. In terms of fixed-income performance, the domestic bond market has shown strong investor demand. The average bid-to-cover ratio for government bond auctions has improved to 3.01 in 2025, up from 2.56 in 2024. Secondary market liquidity has also surged, with average daily trading volume rising to RM7.3 billion this year compared to RM4.6 billion in 2024, reaching a peak of RM15.5 billion. The FMC also noted increasing interest in the use of local currencies for cross-border trade and investment settlements, reflecting growing regionalisation of financial activities. Looking ahead, the FMC expressed support for Bank Negara's ongoing efforts to strengthen the Malaysian Government Investment Issue (MGII) market. It said these will include a review of the dynamic hedging framework to facilitate hedging by index trackers as well as supporting market-making by domestic financial institutions through improved repo availability.
New Straits Times
03-05-2025
- Business
- New Straits Times
Pahang rolls out RM203mil for housing, fire stations and infrastructure
KUANTAN: The construction of six fire stations, seven solid waste management projects and eight People's Residential Programme (PRR) housing projects are among the slew of initiatives worth some RM203 million carried out across Pahang this year. Housing and Local Government Minister Nga Kor Ming said the planned public facility infrastructure development and upgrading projects will be executed in Pahang under the supervision of the relevant departments and agencies under the ministry. He said RM7.3 million has been set aside for the construction of the six fire stations including in Sungai Lembing, Goh Tong Jaya (Genting Highlands), Pulau Tioman(Rompin) and Bentong. "The solid waste management projects will be carried out by the National Solid Waste Management Department in Kuantan, Lipis, Maran, Bentong, Cameron Highlands, Temerloh, and Pulau Tioman with a cost of RM23 million. "Some RM21 million has been set aside for four development projects under the jurisdiction of the local authorities including the construction of a business centre in Cameron Highlands, developing Pekan Sentral in Pekan, and slope maintenance works. T "The project will be monitored by the local government department under the ministry along with the local authorities in Pahang," he told reporters when met at the ministry's Sentuhan Kasih programme at Kampung Cempaka here today. Nga had earlier handed over the house keys to the Rumah Mesra Rakyat (RMR) owners and mock cheques for the development and planning allocations in Pahang. Meanwhile, he said eight PRR housing projects—designed to offer integrated, commercially viable and conducive environments—will be built in Kuantan, Jerantut, Bentong, Temerloh, Maran, Inderapura and Bera, costing RM61 million. Nga said 782 Rumah Mesra Rakyat (RMR) units are being built in Pahang this year by Syarikat Perumahan Negara Bhd at a cost of RM63.45 million, with 472 units completed so far. "The RMR scheme was introduced to help households earning below RM5,000 a month who either have no home or are living in dilapidated conditions, but own land suitable for building. "Each unit is given a RM20,000 construction subsidy, borne by the government," he said. He said that to ensure all the planned projects are carried out according to schedule, the ministry will work closely with the Pahang government through the local authorities. "Some of the projects have already started and the ministry's key performance indicator is to complete them by the end of this year except for PRR. PRR will have to go through the tender process and will need time to complete," he said. Also present was Pahang Local Government, Housing, Environment and Green Technology Committee chairman Datuk Mohammad Fakhruddin Mohd Ariff.
