Yearly Archives - 2012

KOTA KINABALU: The Association of Chinese Chambers of Commerce Malaysia (ACCCIM) president Tan Sri William Cheng is impressed with the rapid economic development that has taken place in Sabah over the last couple of years. “I see a lot of changes in Sabah. It looks different…the economic landscape is different,” he told reporters after a breakfast meeting hosted by Chief Minister Datuk Seri Panglima Musa Haji Aman with members of ACCCIM at Musa official residence in Sri Gaya here yesterday. Attributing the positive changes to the leadership of Musa, he said the current political stability, sound government policies and focused economic direction have led to the significant economic development in Sabah. Cheng, who is also the president of Selangor Chinese Chamber Of Commerce, said such factors were important in pulling in business and investors to a country and state. William said Malaysia and Sabah have these attributes in terms of the capacity to attract investors and tourists alike. “Sabah is rich in natural resources…oil and gas, timber, minerals and so on but most important, you have the right leadership to take Sabah to greater heights,” he said. He said the sectors of  tourism and agriculture, namely aquaculture in the state, were doing well and had the potential to become bigger. “I am also told that Sabah has strong environmental conservation laws. This is also good for the state in terms of eco-tourism,” he said. Cheng also urged the Chinese Chambers of Commerce to work hand in hand with the Chief Minister to make Sabah more prosperous. Meanwhile, Musa said investors were attracted to doing business in Malaysia because of the conducive investors climate, good government policies and stable politics under the able leadership of Prime Minister Dato Seri Najib Tun Razak who strives to be fair to all communities regardless of race and religion. Here in Sabah, he said the State Government strives to do the same for all Malaysians the state. He said the environmental laws on conservation and protection put in place by the present state government actually has long term positive impact on the overall development of a state. “Protecting your forest, phasing out logging and reforestation means in 30 to 40 years time, the future generation can once again have  tropical rainforests which were previously logged,” he said. He said likewise, having  clean air and waters also have long term positive impact in drawing investors and business to Sabah. Citing a United States based multinational company, Darden Incorporated, he said the food giant committed some USD2 billion to develop lobster farming off the coast of Semporna because the water was not polluted and the State has sound environmental policies. “The also told me that the other important reason as to why they chose to come here was because of the prevailing economic and political stability in Malaysia and Sabah included,” he said. On another note, Musa said the Sabah Government valued the contributions made by the Chinese community in Sabah especially towards the economic development of the state. “The government both at the Federal and State level understands the needs of the Chinese community. They want opportunities for their businesses to flourish, their security assured, quality education for their children and their houses of worship continue to remain relevant,” he said. He said the BN government will continue and strive to meet the needs of the Chinese community in Sabah, adding that their continued support is important to the wellbeing of the state. Among those present were  Sabah United Chinese Chamber Of Commerce president (SUCCC) Datuk Seri Panglima Guan Sau Wah,  SUCCC deputy president Datuk Seri Panglima Sari Nuar,  ACCCIM vice president and Johor Chinese Chamber Of Commerce president Tan Sri Dato Lim Bah, ACCCIM vice president and Pahang CCC president , Dato?Lim Sing, ACCCIM vice president and Negeri Sembilan CCC president Dato?William Tan, ACCCIM deputy secretary general and Terangganu CCC president, Dato Low Kian Chuan and others. Source : Borneo Post

KOTA KINABALU: Sabah’s development is on track with both state and federal led projects, said Chief Minister Datuk Seri Musa Aman Investors, according to the state Finance Minister, were continuing their interest in what Sabah has to offer, including in the oil and gas sector apart from the state’s engine of growth such as agriculture, tourism and manufacturing. “Existing businesses and prospective ventures require insurance. I wish to call on Progressive Insurance to offer relevant and attractive packages to meet demand from new and existing business ventures in Sabah and beyond our state,” he said on Monday night before witnessing Progressive Insurance Bhd handing over its dividend payment cheque of RM3,309,632 to the state government. Musa said it could not be denied that the insurance sector is facing stiff competition and constantly needed to address new challenges. “Factored in with periodical financial instability in different parts of the world, it is certainly not easy to be a player in the insurance sector and I must commend Progressive Insurance for your achievements over the years. “I am pleased to note that you have even revised upwards your projected revenue for this year and to learn that in the last eight years, you have declared gross dividends of over RM50 million to shareholders,” he said. According to Musa, the state government, as a key shareholder, hoped that Progressive Insurance would remain on top of changes in the financial market and the insurance sector. “By staying alert, Progressive Insurance can take quick steps to overcome projected challenges whenever a problem or issue starts impacting the ever changing insurance industry,” he pointed out. “It is important you continue to uphold sound management practices, good corporate governance, transparency, accountability and efficiency as part of your daily operations. “With a forward looking management team and with the investment that the company has put in training its employees as well as agents, I am confident that Progressive Insurance will continue to chart higher dividends for its shareholders in coming years,” he said. Musa witnessed the dividend payment of RM3.3 million by Progressive Insurance Bhd presented by its chairman, Datuk Harun Datu Mansor to the state government, received by Finance Ministry permanent secretary Datuk Pengiran Hassanel Haji Pg Mohd Tahir at a dinner at Sutera Harbour Resort. Source : Borneo Post