Lack of cash flow in market — KKCCCI

KOTA KINABALU: Kota Kinabalu Chinese Chamber of Commerce and Industry (KKCCCI) hopes that the State Government will implement projects and expedite the approval of new projects to address the lack of cash flow in the market in the state budget for 2019.

Its president, Datuk Michael Lui, said cash flow in the market has dwindled since the new government took over the administration because certain projects were awaiting approval or had been frozen.

“We hope the government will implement or unfreeze these projects, and expedite the approval of new projects as soon as possible to stimulate business activities in the market,” he said, when asked about the chamber’s wish list for the upcoming state budget 2019.

Additionally, he said, the termination of sand mining operations, even for licensed operators, have adversely affected the progress of major construction projects.

He said, contractors were fighting over the limited supply of river sand, which in turn, could encourage illegal sand mining and therefore reduce government revenue.

At the same time, Lui hoped that the State Government would support the development of the agricultural sector, such as incentives for export and downstream industry, to create more job opportunities and stimulate the market.

He also hoped that the State government would look into assisting oil palm smallholders, given that the crude palm oil (CPO) price has fallen to its lowest level in five years.

In terms of tourism, he urged the State Government to provide incentives to encourage young entrepreneurs to develop new tourist attractions to entice tourists to stay longer in Sabah.

On another note, Lui hoped that the State Government would increase allocation for Chinese schools in Sabah in the budget as the cost of building materials and labour have gone up.