Sabah Set to Receive a Total Investment of RM58.3 billion

24 February 2025

KOTA KINABALU: Sabah’s total approved foreign and domestic investments in the manufacturing sector since September 2020 are estimated to be RM17.41 billion across 73 companies.

Permanent Secretary of the Ministry of Industrial Development and Entrepreneurship (MIDE), Datuk Thomas Logijin, reported that of these 73 companies, 52 have established their operations in the state, contributing a total investment of RM7.8 billion and creating 3,636 job opportunities.

He shared this information during the Chief Minister’s working visit to the Ministry today, which marked the conclusion of the Chief Minister's extensive visit to all state ministries that commenced last year. The visit aimed to assess the progress and implementation of ongoing programmes, as well as to discuss new initiatives moving forward.

Logijin further stated that from 2022 to 2024, Sabah has attracted new investment proposals amounting to an additional RM42.3 billion, which promiss to create 32,996 jobs. Notably, Esteel Enterprise Sabah Sdn Bhd has proposed a substantial investment of RM19.6 billion, which is currently under finalisation.

He explained that Esteel has already been awarded its Federal Manufacturing License (FML) as of January 24 this year for its Phase One project, which represents an investment of RM5.77 billion at the Sipitang Oil and Gas Park (SOGIP).

Other notable investments include those from Curix Sdn Bhd (KKIP), Kibing Group's third production line (KKIP), Tex Evolusi Waste Management Sdn Bhd (SOGIP), and E Concern (Borneo) Sdn Bhd (SOGIP).

Logijin mentioned that MIDE is currently coordinating the latest investment proposals from the Kibing Group in Kimanis, TS Asia Green Infrastructure Sdn Bhd at POIC Lahad Datu, and PMB Technology/Press Metal in Sipitang.

“Overall, Sabah stands to benefit from investments totalling RM58.319 billion,” he concluded.