KOTA KINABALU: Sabah has been emerging as one of the favoured investment destinations in Malaysia as indicated by the total investment planned in the Sabah Development Corridor (SDC).
In the first quarter of 2014, total planned investment had reached RM128 billion while realised investment was recorded at RM38 billion, said Sabah Economic Development and Investment Authority (SEDIA) Chief Executive Datuk Dr Mohd Yaakub Johari.
Mohd Yaakub said this during a briefing to a 10-member delegation of fund managers led by TA Enterprise who called on him here yesterday.
The ten-person delegation comprised TA Enterprise members from both TA Securities Holdings Bhd and TA Investment Management Bhd while also including representatives from the Employees Provident Fund, Permodanan Nasional Berhad, Retirement Fund Incorporated, and RHB Banking.
The delegation was briefed on the Sabah Development Corridor (SDC) and the Entry Point Projects (EPPs) in Sabah, namely key focus areas in agriculture, tourism, logistics and manufacturing, oil gas and energy, education and palm oil.
The delegation was informed that the vibrant real estate sector in Sabah and Kota Kinabalu in particular has been driven by sound economic fundamentals and supported by the real economy.
They were informed of the Public-Private Partnership, of which Sabah had been the biggest recipient of its Facilitation Funds.
Mohd Yaakub said that EPPs under Greater KK, Palm Oil, and Oil Gas and Energy currently comprised 83 percent of the approved investment garnered.
The key interest had been in the projects that have progressed into the implementation stage, especially in the tourism and real estate sectors, and SDC projects that are directly benefiting the public such as the walkway and cycleway along the Likas Bay coastline.
Coming from the securities sector, the delegation showed much interest in matters such as employment and household income in Sabah, the current demand in Sabah properties, and foreign direct investment into the state.
During the meeting the delegation was also told that unlike Sarawak, Sabah has no restrictions for West Malaysians to buy property, as well as the high occupancy rate of hotels within the state capital and surrounding districts.