<b>Sarawak</b> filled with growth opportunities, foreign investors told <b>...</b> Berita Sarawak - News 2 Sarawak |
| <b>Sarawak</b> filled with growth opportunities, foreign investors told <b>...</b> Posted: 13 Jun 2014 12:40 PM PDT KUCHING: More than 100 individuals attended the Sarawak Trade and Investment Business Forum held in Kazakhstan yesterday. Addressing the crowd, Minister of Industrial Development Datuk Amar Awang Tengah Ali Hassan said Sarawak was a progressive and modern state and had a strong tradition in its legal system and civil service. The forum, held at the capital city of Kazakhstan, was organised by the Sarawak Timber Industry Development Corporation (STIDC) and Ministry of Industrial Development (MID) to introduce investment opportunities in Sarawak and explore trade and investment opportunities in the republic. "Sarawak is experiencing good economic growth. In the past, the state's economy was driven by the primary sector, namely agriculture and mining, especially oil and gas, timber, oil palm and rubber." From 1980s onwards, he added, the state successfully diversified and broadened its economic base into the manufacturing and services sectors, especially electronics and other high-technology manufacturing and tourism. He said Sarawak's economy had been able to grow at four to five per cent annually over the last few years despite the global economic slowdown. "In fact, Sarawak now was a strong economy and was the third largest economy among the states in Malaysia." He said Sarawak's current gross domestic product (GDP) was about USD25 billion and its GDP per capita was USD14,085. Its conducive investment climate and sound financial position are reflected in the international credit ratings. "We enjoy good credit rating of A- (stable outlook) by Standard and Poor's and A3 (stable outlook) by Moody's Investors Services. I believe this is indeed an important event, a venue for us to build strong networking and to expand trade and investment between the Republic of Kazakhstan and Sarawak." Awang Tengah, who is also Second Minister for Resource Planning and Environment, Minister for Public Utilities and STIDC Board of Management chairman, said Sarawak offered numerous attractions and opportunities for trade and investment in both resource-based and non-resource based industries. He said investment totalling USD8.9 billion was approved for Sarawak's manufacturing sector between 2011 and March this year. Last year alone, Sarawak received USD2.3 billion worth of investment and was ranked among the top three states in Malaysia, he added. Several resource-based industries that possessed good investment potentials for development had been identified. Among them are the halal, palm oil-based, food processing, wood-based, petrochemical and ceramic industries. These industries offered vast opportunities to investors to invest in the downstream processing activities. The non-resource based industries that were also actively promoted pertained to shipbuilding, oil and gas support services, electronic and hi-tech industries, human capital development, ICT and tourism, added Awang Tengah. Permanent secretary to MID Datu Liaw Soon Eng and STIDC general manager Datu Sarudu Hoklai also presented papers on trade and investments in Sarawak.   |
| SapuraKencana make four gas discoveries offshore <b>Sarawak</b> <b>...</b> Posted: 09 Jun 2014 09:43 AM PDT KUCHING: Oil and gas company SapuraKencana Petroleum Bhd (SapuraKencana) has discovered four gas wells offshore Sarawak. The group in a filing to Bursa Malaysia yesterday said its wholly-owned subsidiary, SapuraKencana Energy Sarawak Incorporation (SKE) has made four significant discoveries of non-associated natural gas in the SK408 production sharing contract (PSC) area. The four-well discovery from the first four exploration wells was within the primary target of the Late Miocene Carbonate reservoirs. SapuraKencana explained that the first well, Teja-1, located 8 kilometre (km) southeast Cili Padi gas field encountered 219 metres of gross column whilst the Gorek-1 discovery, located 15 km southeast F23 gas field encountered a gross gas column of 235 metres. The company added that the third well, Legundi-1, located 18 km south F23 gas field which was drilled in a down-flank location encountered a 139 metres gross gas column and the fourth well, Larak-1, located 12 km south of F6 gas field, also drilled in a down-flank location encountered a gross gas column of 333 metres. SapuraKencana noted SKE, the operator of the wells with a SapuraKencana noted that SKE the operator of the wells with a 40 per cent interest is working with its partners Petronas-Carigali Sdn Bhd which has a 30 per cent interest and Sarawak Shell Bhd with 30 per cent interest for the gas project. The company pointed out that SK408 Block is located in shallow waters approximately 120 km offshore Sarawak covering an area of approximately 4,480 square kilometre in the prolific Central Luconia Gas Province. SapuraKencana observed that those are the first four wells of a 10-well commitment in the SK408 PSC. |
| You are subscribed to email updates from berita sarawak - Google Blog Search To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google Inc., 20 West Kinzie, Chicago IL USA 60610 | |