The Ministry of Finance said the development of areas such as Medini Iskandar and Desaru Coast requires a long maturity period as well as catalytic investments to develop optimally.
KUALA LUMPUR :
Khazanah Nasional Bhd has invested more than RM6 billion to advance the development of Medini Iskandar and Desaru Coast in Johor so far, according to the Ministry of Finance (MoF).
In a written response to the Dewan Rakyat, MoF said the amount was aimed at attracting more investment and creating job opportunities for Malaysians, especially in the property development, housing, education and tourism sectors in both areas.
“Khazanah’s investment is based on the government’s mandate to develop Iskandar Malaysia as a special economic corridor and this effort has been expanded to Desaru Coast in line with more comprehensive development efforts in the state of Johor.
“In general, the development of areas such as Medini Iskandar and Desaru Coast requires a long maturity period (30 to 40 years) as well as catalytic investments to develop optimally,” said MoF.
The ministry said this in response to a question from Yeo Bee Yin (PH-Puchong) regarding the development status and investment amount for Medini Iskandar and Desaru Coast.
Medini Iskandar is categorised as Zone B in the Johor-Singapore Special Economic Zone (JS-SEZ), while Desaru Coast is part of Zone G.
In this regard, MoF said efforts will continue to be strengthened to ensure that these two destinations continue to contribute to the country’s economic growth and strengthen Malaysia’s position as an investment destination.
Meanwhile, answering a separate question, MoF said the total dividend from Petroliam Nasional Bhd (Petronas) for 2026 is expected to decrease to RM20 billion compared to an estimated RM32 billion in 2025.
The ministry said petroleum-related revenue for 2026 is projected to amount to RM43 billion, a decrease of 24% compared to the estimated RM56.6 billion in 2025.
"The government remains committed to reducing dependence on petroleum-related revenue due to the risk exposure factor of global crude oil price volatility.
“From a fiscal management perspective, the federal government will continue to focus on measures to optimise expenditure, ensure the sustainability of national revenue and strengthen the implementation of a comprehensive economic plan to drive the country’s economic growth,” he said.
The Ministry of Finance said this in response to a question from Hassan Abdul Karim (PH-Pasir Gudang) regarding the government’s realistic approach for the 2026 Budget without relying on Petronas dividends, which is facing the challenge of falling world crude oil prices.
Source: FMT
2025-10-28T16:00:00Z