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      21 March 2019  

SEDIA welcomes opportunity to introduce investment bank to SDC initiatives

Kota Kinabalu (Thursday) - The Sabah Economic Development and Investment Authority (SEDIA) today received a courtesy visit from Kenanga Investment Bank Berhad (Kenanga) and several of its clients, with the delegation comprising of fund managers, institutional dealers and investment analysts. The delegation was received by SEDIA Chief Executive Datuk Dr. Mohd Yaakub Johari, and had a discussion on Sabah development planning as well as the state's progression, particularly on investment and economic initiatives through the Sabah Development Corridor (SDC).

  SEDIA Chief Executive Datuk Dr. Mohd Yaakub Johari (fourth from left) with other SEDIA staff and the visiting Kenanga delegation

Kenanga Investment Bank Berhad is a Malaysian financial services group founded in 1973, which provides services for investment banking, stockbroking, and investment management. The group has extensive experience in equity broking, investment banking, listed derivatives, treasury, corporate advisory, Islamic banking, wealth management and investment management. The group's key subsidiary, Kenanga Investment Bank, is the largest independent investment bank by equity trading and volume, has the largest network of stockbrokers in the country, and is one of the top three Malaysian stockbrokers by market share. During the visit to Wisma SEDIA, Kenanga had also brought representatives from Permodalan Nasional Berhad, Takaful Malaysia, and KWAP.

SDC had entered into its Third Phase of implementation in 2016, and SEDIA has adopted a more focused and targeted approach in attracting quality investments in new growth areas, especially in service-based, innovation-led and knowledge-intensive industries including in Industry 4.0. During the Eleventh Malaysia Plan, SEDIA has been according greater emphasis on improving the state's economic competitiveness by enhancing the state's global connectivity to ensure seamless movement of people, goods and services. Efforts would be directed especially towards enhancing the efficiency of the logistics sector by improving the relevant infrastructure and the integration of land, sea, and air services. In the long run, this is expected to reduce the cost of living and conducting business.

Measures implemented under SDC have clearly succeeded in drawing investments into Sabah. By December 2018, SDC recorded RM166.84 billion of cumulative committed investments, of which RM81 billion had been realised. Investments in SDC have clearly gained traction that, by 2017, Sabah recorded annual GDP growth at 8.2 percent, the fastest in Malaysia, overtaking all the other states in Malaysia and surpassing the national average at 5.9 percent, as reported by the Department of Statistics (DOS).

- Media SEDIA

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