Suria Capital to further diversify its businesses
Published on: Tuesday, May 23, 2017
Kota Kinabalu: Suria Capital Holdings Berhad and its Group of Companies (SuriaGroup) are looking to further diversify its businesses including into the prospects of a railway modernisation project, renewable energy and waste management system in Sabah.Its Chairman Datuk Faisyal Datuk Yusof Hamdain Diego said however, it does not mean that the Group will be abandoning its core business of providing port services and facilities in the State.For instance, he said the Group will undertake the project to build a dedicated international cruise terminal which will serve as a marine gateway and a second entry point to the heart of the city of Kota Kinabalu.ADVERTISEMENT "The terminal will complement several other developments such as Jesselton Quay, One Jesselton Waterfront, Sabah International Convention Centre and Kota Kinabalu Convention Centre. Together, they present Kota Kinabalu as a complete destination with world-class attractions, infrastructure, and leisure facilities," he said.He added that with the completion of One Jesselton Waterfront, the public ferry terminal at Jesselton Point will be the main seaport or water transportation hub to Kota Kinabalu, Labuan and surrounding islands.The high potential in water taxi services in Kota Kinabalu will serve as an alternative transport for local community as well as for tourists to experience Kota Kinabalu from its coastline.The recent announcement by Infrastructure Development Minister Tan Sri Joseph Pairin Kitingan on the proposed upgrading of the railway track connecting Halogilat Station and Tenom also piqued the interest of the company.ADVERTISEMENT Its Group Managing Director Ng Kiat Min said as the only company with experience in railway projects, SuriaGroup, through its subsidiary SCHB Engineering Services Sdn Bhd, is interested to offer its services to help upgrade the 27km railway stretch and probably beyond."We noted with interest that the railway network could potentially see it connecting towns including Kudat and the east coast. We believe this could be highly beneficial not just to the company but to Sabah as a whole.
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"Almost all ports are connected with railway systems because it is easier and cheaper to transport goods. But before we do that, we need to conduct studies such as which cities we should connect, what the network would look like and other issues."For that, we might need a consultant to do it or we can even do it ourselves, we will see," she said.The Group had previously been involved in railway upgrading project for railway track linking Tanjung Aru to Tenom.In terms of renewable energy, Ng said SCHB Engineering Services Sdn Bhd is exploring the feasibility of renewable energy projects such as solar power generation, wind turbine and mini-hydro.In fact, she said they have been in contact with a China-based company which is interested to invest in the setting up of wind turbines in Kudat.However, the proposal is subject to a one-year study of the wind condition at the proposed area.If it became a reality, the electricity generated could provide clean and cheap green energy to Kudat and surrounding islands.Meanwhile Faisyal provided a positive and optimistic outlook this year on the back of some underlying signs of recovery in the global economic activities and the favourable economic prospects within the country."The national economy is set to stay on steady growth path, anticipating a growth rate of between 4.3 per cent and 4.8 per cent in 2017. The expected growth is to be buoyed by strong domestic demand, private investment and improving global economy, especially among the country's trading partners."The Group also anticipates the performance of Sabah's economy will continue to be favourable as shown since 2015," he said.He believed that the on-going infrastructure development activities by the State government and those undertaken by the Sabah Development Corridor will stimulate investments in the State and provide spin-offs and potential sources of income to the Group.Furthermore, he said the outlook for Sabah's tourism and infrastructure construction sectors as the State's sources of growth for 2017 seems promising and these are great potentials for the Group's cruise and ferry terminal operations.According to Sabah Tourism Board, tourist arrivals in Sabah rose by 7.9 per cent at 3.427 million visitors in 2016, the highest since 2013, generating RM7.25 billion from tourism receipts and giving an extra 10 per cent into the State economy."The Pan Borneo Highway project, valued at RM12.8 billion holds great opportunities for our port operations, particularly through the handling of road construction materials. "The road network which covers a 730 km distance from Sindumin to Tawau not only will provide connectivity to the ports but open more doors for other multimodal logistics activities that will include railway connectivity and aviation hub development and as such stimulating further investments in the State.Stay up-to-date by following Daily Express’s Telegram channel.
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"With such outlook, SuriaGroup is optimistic on the potentials available for it to grow and that the outlined strategies will work positively towards its performance and towards its aspiration as a catalyst for growth for the State and the country," he said. - Tracy Patrick