KOTA KINABALU: State government-linked company Qhazanah Sabah is seeking to raise RM1bil through sukuk bonds to have standby funds available for its subsidiary companies to carry out various projects.
Qhazanah Sabah chairman Datuk Dr Yusof Yacob said the fund would be placed in standby for them to use for various projects, including the development of green energy generation, medical facilities, setting up a halal hub and transport and logistics among others.
"It is not that we will use it all, the fund will be put on standby and we will use it for funding when necessary.
"This way, we don't need to look for funds when we are undertaking a project," Dr Yusof told reporters during a media briefing on the direction of the state's largest investment company on Monday (July 17).
However, he said that depending on the situation and the project to be undertaken, they would look at conventional funding if required.
Giving a projection of the various companies under its stable, Dr Yusof said Qhazanah had completed its feasibility study to move the Kota Kinabalu International Airport (KKIA) to Kimanis, about 60km away.
He said they would be briefing the State Economic Planning Unit on the matter and it would be left to the Sabah government to consider the proposal.
Dr Yusof also said that its subsidiary Medicare Sdn Bhd, which handles health screening of foreign workers, would also expand its scope towards medical tourism by building a hospital and opening up clinics for the people.
Medicare is also planning to set up its own diagnostics lab and dialysis centre, among others, he said, adding that setting up clinics was to assist the B40 group.
On new development and other plans, Dr Yusof said they were looking at purchasing electric vehicles for public transport, and that a meeting is being scheduled with Transport Minister Anthony Loke on this matter next week.
He said there are construction projects, land development and other money-generating plans in place and assured that all plans would be conducted in a transparent manner without bias or favour.
This, he said, would include ensuring all procedures and environmental impact assessments are met for all projects requiring them.
At the press conference, Dr Yusof also presented a sponsorship cheque of RM50,000 for the Kinabalu Press Awards 2023 to be held on Oct 28 this year.
The mock cheque was presented to organisers Sabah Journalists Association president Datuk Muguntan Vanar.
