Efforts to harness Sabah’s abundance of natural resources for downstream industries look to be paying off, with figures showing that investment in the state’s manufacturing sector is rising.
Asia Energy
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As gas consumption levels reach record highs in Malaysia and across the continent, the country is positioning itself as a regional trade centre for liquefied natural gas (LNG). With a series of capital-intensive LNG investments, Malaysia will likely see a strong increase in LNG import-export volumes for some time to come. However, muted economic growth in China and India could limit the country’s ability to export its new LNG production.
A new mining policy in the Philippines is intended to bring greater regulatory clarity to the sector and is an important step towards unfreezing the current hiatus in an industry that has huge potential. However, until a new revenue-sharing bill for the sector – which will likely raise taxes on mining operations – is implemented, no new contracts will be awarded.
Committed to reducing its carbon intensity by 40% by 2020, Malaysia is currently facing some tough decisions on whether natural gas or coal will be the best energy source to meet its rapidly growing consumption needs and looming environmental targets.
Investors have put concerns about political uncertainty in Papua New Guinea (PNG) to one side, encouraged by the keen interest buyers are showing in the country’s natural gas blocks and major new finds.
Economic update | Sabah: Going geothermal
6 Jun 2012
The construction of a geothermal power plant in Sabah has massive potential to boost the Malaysian state’s economy, while paving the way for other major developments in renewable energy.