BNM confident 2014 GDP growth will beat forecast

Posted on : 25-09-2014 | By : sabah today | In : News

September 25, 2014
Kuala Lumpur: KUALA LUMPUR: Bank Negara Malaysia is confident that the country’s Gross Domestic Product (GDP) growth this year would exceed the 5.0 per cent to 5.5 per cent forecast following the bullish first half-year performance.
“For the first half of the year, we have already got 6.3 per cent, so it is definitely going to exceed the original forecast of 5.0 to 5.5 per cent.
“That’s why we are going to leave it at that for the moment,” Governor Tan Sri Dr Zeti Akhtar Aziz told reporters after launching the Financial Services Professional Board here Wednesday.
She was responding to the recent announcement by Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah on the upward revision of the country’s GDP forecast to between 5.5 per cent and 6.0 per cent.
On the overnight policy rate (OPR), Zeti said the central bank would closely monitor the country’s growth as well as inflation, and these two factors would be taken into account before any revision on the interest rate.
“It is not just as straightforward as that, because we will look at the source of the growth and inflation adjustments.
“If they are viewed to be of a permanent nature or whether it’s transitory and temporary, this would have implications on our decision (on the OPR).
“We will also look at the risk of any destabilising financial imbalances, and these are the factors that will be taken into consideration,” she said.
The OPR was raised to 3.25 per cent from 3.0 per cent on July 10.
FSPB is the first infustry-led body focused on developing and advocating professionalism and ethics accross all sectors of the financial services industry namely banking, capital markets, insurance and Islamic finance.
It was nitiated by the central bank, the Securities Commission of Malaysia and the financial services industry.
The FSPB’s Board members are global leaders, led by AmBank Group Non-Executive Chairman Tan Sri Azman Hashim.
Also present at the event was Securities Commission Chairman Datuk Ranjit Ajit Singh. –Bernama
(Source: Daily express)
September 25, 2014
Kuala Lumpur: KUALA LUMPUR: Bank Negara Malaysia is confident that the country’s Gross Domestic Product (GDP) growth this year would exceed the 5.0 per cent to 5.5 per cent forecast following the bullish first half-year performance.

Malaysia ranks 2nd most attractive market for infrastructure investment

Posted on : 23-09-2014 | By : sabah today | In : News

23rd September, 2014
KUALA LUMPUR: Malaysia has been ranked second among 41 countries as the most attractive market for investment in infrastructure, according to the Arcadis Global Infrastructure Investment Index.
Arcadis Head of Infrastructure, Asia, Richard Warburton said infrastructure is the backbone of a country and a catalyst for its long-term economic development.
“With Malaysia’s annual average population growth rate of 1.4 per cent, investment in new infrastructure will be imperative.
“Combined with its goal of achieving high-income nation status by 2020, plans are already underway for specific cities and urban clusters under Greater Kuala Lumpur/Klang Valley to be developed into vibrant, productive and livable cities that are comparable to other major cities in the world,” he said in a statement on Monday.
Meanwhile, Arcadis said Malaysia was the only Asian country after Singapore to clinch a top 10 spot in the global ranking, with Malaysia ranked seventh, ahead of the U.S.A, Australia and the United Kingdom.
“A key differential that we have seen in Asian markets like Malaysia and Singapore is that they have clear integrated strategies that tie the infrastructure development plans to business and economic objectives,” he said.
The 10th Malaysia Plan sets the stage for a major structural transformation that a high-income economy requires which gives long-term clarity to investors, Warburton added.
(Source: New sabah Times)
23rd September, 2014
KUALA LUMPUR: Malaysia has been ranked second among 41 countries as the most attractive market for investment in infrastructure, according to the Arcadis Global Infrastructure Investment Index.
Arcadis Head of Infrastructure, Asia, Richard Warburton said infrastructure is the backbone of a country and a catalyst for its long-term economic development.

PCG-GAP-SOGDC MoU augurs well for SAMUR – Musa

Posted on : 18-09-2014 | By : sabah today | In : News

18th September, 2014
PULAWY, Poland: Petronas Chemicals Group Berhad (PCG), Grupa Azoty Pulawy (GAP) and Sipitang Oil & Gas Development Corporation Sdn Bhd (SOGDC) have inked a Memorandum of Understanding (MoU) this week to conduct a joint feasibility study for producing urea and ammonia derivatives in Sipitang Oil & Gas Industrial Park (SOGIP).
President cum Chief Executive Officer of PCG Shazali Hamzah signed the MoU with GAP and SOGDC here in the presence of Chief Minister Datuk Seri Musa Haji Aman and Datuk Raymond Tan Shu Kiah, Deputy Chief Minister cum Industrial Development Minister.
GAP was represented by its vice president Marian Rybak, while SOGDC, by its general manager Haji Abdul Kadir.
This MoU marked the beginning of a collaboration between PCG, GAP and SOGDC for development of urea and ammonia derivatives for the Asian agriculture industry,
The parties concerned would undertake a preliminary technical, economic, raw material supply, logistic, infrastructure and utilities study for the development of the petrochemical products.
GAP is a subsidiary of Grupa Azoty S.A., the leader in Poland’s fertiliser and chemical industry.
And, it is one of European Union’s largest fertiliser producer and its portfolio ranges from nitrogen fertiliser (urea solutions, ammonia nitrate) to chemical products (melamine, caprolactam).
GAP has unique competence in the production and processing of urea. The strategy involves the production of high-level products based on urea like melamine and urea solution for reduction of exhaust emission in cars and power plant.
Meanwhile, Musa said the MoU signing is another step in the right direction for the development of SAMUR.
“It has been a fruitful visit and I am confident this MoU signing will kickstart the development of ammonia and urea derivatives in SOGIP,” he said.
The Chief Minister also said the collaboration with established leading industry players such as PCG and GAP bodes well for the development of SAMUR.
“They have the expertise and technological know-how and together we can jointly develop the petrochemical industry in Sabah. This will be another major investment in the state,” he said.
(Source: New Sabah Times)
18th September, 2014
PULAWY, Poland: Petronas Chemicals Group Berhad (PCG), Grupa Azoty Pulawy (GAP) and Sipitang Oil & Gas Development Corporation Sdn Bhd (SOGDC) have inked a Memorandum of Understanding (MoU) this week to conduct a joint feasibility study for producing urea and ammonia derivatives in Sipitang Oil & Gas Industrial Park (SOGIP).

Sabah can achieve hub of Far East vision: CM

Posted on : 18-09-2014 | By : sabah today | In : News

September 18, 2014
Kota Kinabalu: Sabah’s progressive, diversifying economy and healthy public-private ties will further bolster foreign direct investments, as the state aims to attain the far east hub status in years to come.
Speaking at the Sabah International Expo 2014, Chief Minister Datuk Seri Musa Aman on Wednesday said Sabah will continue to restructure its businesses from just primary exports, value added products and services and knowledge driven.
At the same time, he noted the important participation of the private sector, which is evident from the areas of expertise, and towards reaching the economic goals and the Sabah Development Corridor blueprint.
“Sabah as the hub of the Far East, I am certain that we can achieve this vision if all stakeholders work together continously to unlock potentials that Sabah holds in various sectors of the economy,” he said during the welcoming dinner of delegates from 31 nations to the Sabah International Expo (SIE) 2014, here.
His speech was read by the Deputy Chief Minister Tan Sri Joseph Pairin Kitingan as he is at present in Poland for a particular ceremony, there.
Promoting on the opportunities here, Musa has revealed on the present progress of the SDC, saying that as of March this year, 30 per cent or RM38.4 billion worth of the RM128 billion investment pledged have materialised, with over 25,000 jobs being created.
Meanwhile, 60 per cent of its project have taken off or in the various stages of implementation.
He further said that Sabah’s growth remained robust as trade figures in the first six months of the year increased five per cent in exports, while imports by 11.4 per cent compared to the corresponding period of last year.
“This result in a trade surplus of RM4.9 billion,” he said.
Among others, he said 13 projects worth RM1 billion have been approved by the Malaysian Investment Development Authority between the same period of six months, he said.
Musa said the implementation of the New Economic Model, which is to put Malaysia as a high income nation, is also producing positive results.
The model, which is touted to unleash the country’s growth potential through two components Government Transformation Programme and the Economuc Transformation Programme.
For Sabah these initiatives are now well in gear, which us in the tourism, palm oil, agriculture, manufacturing and oil and gas sector, said Musa.
He added the SIE has grown to become an important event, saying that more than 230,000 visitors thus far since its inception in the year 2000, while perhaps hundreds of millions of ringgit have been transacted.
“SIE has grown into an event that reflects the close public-private partnership in the State, as both parties work together to promote progress, prosperity and development… Let me assure you that we will continue to support the private sector initiatives to develop more economic potentials.
“With a large number of entrepreneurs to start networking in effort to establish business partnerships,” he said.
Around 500 delegates from 31 nations will begin their five-day networking sessions here which include countries like Australia, the Philippines, Singapore, Switzerland, Poland and much more.
Among the list of honours include the Federation of Sabah Industries Datuk Seri Wong Khen Thau and others.
(Source: Daily Express)
September 18, 2014
Kota Kinabalu: Sabah’s progressive, diversifying economy and healthy public-private ties will further bolster foreign direct investments, as the state aims to attain the far east hub status in years to come.

Federal ties boon for Sabah: TYT

Posted on : 17-09-2014 | By : sabah today | In : News

September 17, 2014

Kota Kinabalu: Head of State Tun Juhar Mahiruddin has urged Malaysians in Sabah to continue upholding unity to ensure perpetual peace and stability.

On the political front, he said, the cordial relationship between the State Barisan Nasional (BN) government and its Federal counterpart had contributed to the political stability currently enjoyed in Sabah.

Forming M’sia a success: PM

Posted on : 17-09-2014 | By : sabah today | In : News

September 17, 2014

MIRI: Prime Minister Datuk Seri Najib Tun Razak has expressed a sense of pride to see the rapid development of Sarawak, proof that the hard work by his predecessors in forming Malaysia yielded good outcome.

Malaysia Day !

Posted on : 16-09-2014 | By : sabah today | In : Greeting

PM Najib: No turning back for Sabah, Sarawak

Posted on : 16-09-2014 | By : sabah today | In : News

16 SEPTEMBER 2014
MIRI: There is no turning back for Sarawak and Sabah from its inclusion in Malaysia and the Federal Government will spare no efforts to defend the sovereignty of the two states.
Prime Minister Datuk Seri Najib Razak, in his speech in conjunction with the national-level Malaysia Day celebration here last night, also issued a stern warning against those who try to threaten the security of the two states.
He said the nation, including Sarawak and Sabah, has come a long way since its establishment 51 years ago, which makes the issue of the east Malaysian states seceding from Malaysia irrelevant.
“There is no turning back. Together as the people of Malaysia, regardless if we are Sarawakians or Sabahans, there will be no turning back for us all.
“We will continue to defend the sovereignty of Sabah and Sarawak in Malaysia. And as a responsible prime minister, it is my duty to protect the nation from those threatening our security and sovereignty.
“We will take action against this unscrupulous lot because we live in a nation that loves harmony,” he said to thunderous applause from the 30,000-strong crowd which had thronged the Miri City Fan Complex here.
Joining the celebrations were Yang di-Pertua Negeri Tun Abdul Taib Mahmud, his wife Toh Puan Sri Ragad Kurdi, Deputy Prime Minister Tan Sri Muhyiddin Yassin, chief minister Tan Sri Adenan Satem and Sabah Deputy Chief Minister Tan Sri Joseph Pairin Kitingan, who represented Sabah Chief Minister Datuk Seri Musa Aman.
Also present were several cabinet ministers including Communications and Multimedia Minister Datuk Seri Ahmad Shabery Cheek, Transport Minister Datuk Seri Dr Liow Tiong Lai, Women, Family and Community Development Minister Datuk Seri Rohani Abdul Karim, Ministers in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar and Datuk Wee Ka Siong, as well as Chief Secretary to the Government Tan Sri Ali Hamsa.
Also in attendance were the prime minister’s wife Datin Seri Rosmah Mansor and Muhyiddin’s wife Puan Sri Nooraini Abdul Rahman.
Najib said the massive turnout at the grand event was proof that the people of East Malaysia did not regret the decision made by the two states to join the Malaysian Federation as one nation.
“I am happy to see the people in Sabah and Sarawak continuing to enjoy the 1,001 ‘rahmat’ (blessings) after the two states achieved its independence by joining Malaysia,” he said.
Najib also announced that from next year, the Aug 31 Merdeka celebrations would be commemorated without mentioning the anniversary year.
He said the decision was made to put an end to the debate on whether the country should celebrate its sovereignty on Aug 31 or Sept 16.
“However, I would like to stress that we will still celebrate September 16 as that was when Sabah and Sarawak joined Malaysia.
“’The Merdeka celebration is for us all, and August 31 is the date of the nation’s independence as announced by (the country’s first prime minister) Tunku Abdul Rahman (Putra Al-Haj),” he said.
(Source: New Straits Times)
16 SEPTEMBER 2014
MIRI: There is no turning back for Sarawak and Sabah from its inclusion in Malaysia and the Federal Government will spare no efforts to defend the sovereignty of the two states.

Only powerful, cohesive solidarity will ensure Malaysia’s continued success — Najib

Posted on : 16-09-2014 | By : sabah today | In : News

September 16, 2014
KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak stressed that only powerful and cohesive solidarity in the name of Malaysia will ensure continuity of stability, prosperity and wellbeing of the nation.
Datuk Seri Najib Tun Razak
He said this was very important because there were irresponsible elements who wanted to see discord among the people.
“Certainly, as we celebrate an important event such as this (Malaysia Day), we should all strengthen our oneness with each other as Malaysians.
“Once again , we can celebrate Malaysia Day in peace and prosperity,” the prime minister said in his latest post on his blog www.1Malaysia.com.my in conjunction with the 51st Malaysia Day celebration today.
Najib said he will be present at Miri City Fan, Sarawak for the national-level Malaysia Day celebration today to join the thousands of people from all walks and backgrounds who will be there to show love and patriotism for the country.
The Malaysia Day celebration in Sarawak also uses the Merdeka Day (Independence Day) theme ‘Malaysia: Here, Where Love Begins’ as it is universal to all the people in Malaysia. — Bernama
(Source: The Borneo Post)
September 16, 2014
KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak stressed that only powerful and cohesive solidarity in the name of Malaysia will ensure continuity of stability, prosperity and wellbeing of the nation.

Sabah gets world-class DNA centre

Posted on : 13-09-2014 | By : sabah today | In : News

September 13, 2014
KOTA KINABALU: The Department of Chemistry Sabah branch now has its own world-class forensic DNA centre.
The facility was officially opened yesterday, making Sabah the fifth state in the country to have such a centre, after Johor, Penang, Sarawak and Selangor.
Science, Technology and Innovation Minister Datuk Ewon Ebin said the facility was highly needed to handle the growing number of cases in Sabah where DNA analysis was required.
He said the centre would help reduce the time and cost for related authorities, such as the police, in getting DNA analysis for evidence they used in prosecuting a suspect.
This in return may help speed up prosecution of criminal cases involving DNA evidences, he added.
“The centre will allow government departments as well as the public to get DNA analysis without having to send the sample to Kuching or Kuala Lumpur, like previously. This will reduce both the cost and time,” he said at the opening.
Based on the department’s record, the number of cases and samples referred to Kuching for DNA analysis had increased by 15 per cent on average from 2002 until last year.
In 2013, the centre in Kuching received 203 cases from Sabah, involving 1,612 DNA samples.
Speaking to reporters later, Ewon said the facility, which started operation in June, is fitted with world-class equipment and experts recognized by international bodies.
He noted that staff and experts from the centre were among those involved in identification process of the victims of MH17 in Amsterdam, Netherlands.
“The centre also provides training courses for other countries, such as Singapore, Vietnam and a few others,” he said.
Apart from helping in solving criminal cases, he said the centre would also provide services to the public, including in determining kinship through DNA analysis.
While analysis for government agencies would be given for free, individuals will be charged RM1,500 per analysis.
The lab has 15 DNA experts and 61 supporting personnel and can comfortably handle 4,500 cases annually.
Also serving as a DNA database centre for the state, the lab has so far received 70 cases since starting operation about two months ago.
At the event, Ewon also launched the Malaysia Department of Chemistry SP1M pre-registration application, which allows customers to register their cases online without having to go the department’s counter.
(Source: The Borneo Post)
September 13, 2014
KOTA KINABALU: The Department of Chemistry Sabah branch now has its own world-class forensic DNA centre.

Sabah to attract up to RM5 billion in investments

Posted on : 12-09-2014 | By : sabah today | In : News

12th September, 2014
KUALA LUMPUR: Sabah aims to attract investments of up to RM5 billion in the manufacturing sector this year.
Several projects are in the pipeline, particularly in the petrochemicals and energy sector, and investments would come in gradually over the next few years.
Sabah Deputy Chief Minister cum Minister of Industrial Development Datuk Raymond Tan Shu Kiah said among the projects are Petronas’ second Ammonia and Urea plant in Sabah worth RM3 billion, Genting Group’s alternative fuel plants (RM1.3 billion to RM1.7 billion), a downstream urea plant by a Poland-based company (RM2 billion), Mewah Datu Sdn Bhd’s palm oil refinery plant (RM1 billion to RM2 billion) and a bioethanol plant by a local company (RM1 billion to RM2 billion).
“I’m hoping (the agreements for) all of them (investments) will be signed by end of this year…but most of them are ready to be signed,” he told reporters after delivering a keynote address at the Sabah Investment Seminar here yesterday.
Tan said the state was aggressively promoting green technology in the manufacturing sector, as well as, value-added oil and gas resources into chemical products.
(Source: New Sabah Times)
12th September, 2014
KUALA LUMPUR: Sabah aims to attract investments of up to RM5 billion in the manufacturing sector this year.
Several projects are in the pipeline, particularly in the petrochemicals and energy sector, and investments would come in gradually over the next few years.

RMK11 vital phase of devt, says Musa

Posted on : 12-09-2014 | By : sabah today | In : News

12th September, 2014
KOTA KINABALU: The 11th Malaysia Plan (RMK11) is an important phase of development as it is the last five-year plan towards vision 2020.
Chief Minister Datuk Seri Musa Haji Aman said the Sabah State government has adopted the RMK11 framework encompassing six main thrusts laid out by the Federal Economic Planning Unit in preparing for the State-level RMK11.
“At the State-level, the preparation of the strategy papers were very inclusive whereby all public and private stakeholders in the State were consulted and were in preparation process,” he said.
Musa who is also Finance Minister said this during a dialogue with a delegation led by Minister in the Prime Minister’s Department Dato’ Sri Abdul Wahid Omar on the preparation planning of RMK11 at Wisma Innoprise here yesterday.
He also said there were still many areas for improvement as well as development challenges faced by the State.
“A lot still needs to be done to improve connectivity, logistics and infrastructure,” he said.
The Chief Minister added that more funding was needed for good road networks, water and electricity supply as well as better broadband penetration throughout Sabah.
“Public transportation system must be stepped up to ease the traffic congestion which is now a serious issue,” he said.
And, he also stressed that greater attention must be given to improving education, healthcare, housing, State security, food security and sustainable management of natural resources.
Among those present were State Cabinet ministers, central planning agencies and key Sstate departments.
(Source: New Sabah Times)
12th September, 2014
KOTA KINABALU: The 11th Malaysia Plan (RMK11) is an important phase of development as it is the last five-year plan towards vision 2020.

Federal govt allocates RM1.8 bln for power projects

Posted on : 11-09-2014 | By : sabah today | In : News

September 11, 2014
KOTA KINABALU: The Federal government has agreed to allocate RM1.812 billion in grants to implement critical electric power transmission projects in the state.
File photo shows power lines in Sabah. The recent upgrade of transmission grids linking Kota Kinabalu and Kudat and the eastern Sabah grid has helped alleviate the transmission issue. — Bernama photo
Sabah Chief Minister Datuk Seri Musa Aman said the projects include the Southern Transmission Link and others for the 2014-2016 period to complete the transmission network in Sabah and to enable state-owned power producer Sabah Electricity Sdn Bhd (SESB) to import power from Sarawak in the future.
Musa, who is also state Finance Minister, said the government has also allocated RM230.6 million for the 2013-2014 period to finance projects aimed at improving the System Average Interruption Duration Index (SAIDI) throughout Sabah.
“Therefore, assistance is still needed from the Federal government to help SESB carry out new infrastructure projects including the Southern Link Transmission Line,” he said in his keynote address at the Seminar on Sustainable Green Energy for a Greener Sabah organised by the Institute for Development Studies (Sabah) here yesterday.
The speech was read by Sabah Industrial Development Assistant Minister Datuk Bolkiah Ismail.
Musa also said the recent upgrade of transmission grids linking Kota Kinabalu and Kudat and the eastern Sabah grid has helped alleviate the transmission issue.
In addition, he said, a number of power plants will be coming on-stream, and the policy of diversifying away from diesel plants will assist the overall electricity supply.
“The completion of the Kimanis and SPR Energy power projects for example are expected to stabilise power generation.
Both are gas-fired combined-cycle power plants, a more efficient and cleaner solution compared to Medium Fuel Oil (MFO) and diesel-based power generation methods.
“The Kimanis and SPR power projects are expected to generate a total of 385 Megawatts, further increasing the state’s total generating capacity to about 1,400 Megawatts,” he said.
Musa added he hoped to see more contribution from the private sector in this industry in view of the state’s abundant natural resources that can be turned into renewable energy. — Bernama
(Source: The Borneo Post)
September 11, 2014
KOTA KINABALU: The Federal government has agreed to allocate RM1.812 billion in grants to implement critical electric power transmission projects in the state.

GST to help make economy strong, competitive — Najib

Posted on : 11-09-2014 | By : sabah today | In : News

September 11, 2014

KUALA LUMPUR: The introduction of the Goods and Services Tax (GST) will not only help make the conomy strong and competitive, it will also reform the tax system to make it more transparent and efficient, said Prime Minister Datuk Seri Najib Tun Razak.

PM applauds those involved in raising country’s competitiveness ranking

Posted on : 03-09-2014 | By : sabah today | In : News

3 SEPTEMBER 2014
 
KUALA LUMPUR: Prime Minister Datuk Seri Najib Razak today expressed his appreciation for those who took various measures to improve Malaysia’s global competitiveness ranking.

“Alhamdullilah (Praise be to God), we are the 20th most competitive economy!