Kota Kinabalu: The Bumiputera Agenda Steering Unit (Teraju) has launched the Sabah and Sarawak Bumiputera Scaling Fund (BSSF) to accelerate the growth of local companies and bridge the business development gap in East Malaysia.
Chief Minister Datuk Seri Hajiji Noor launched the fund at the opening of the Teraju Aspirasi Outreach Sabah 2026 event at Sabah International Convention Centre (SICC), Thursday.
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Teraju Chief Executive Officer Junady Nawawi said the fund was introduced specifically taking into account the unique demographics and business ecosystems in Sabah and Sarawak, which differ from the Peninsula.
“Through research findings and engagement sessions, we understand the needs of Bumiputera businesses in Sabah and Sarawak require a more specialised approach. In view of this, Teraju is launching the Sabah and Sarawak Bumiputera Scaling Fund (BSSF) to help achieve the targeted growth surge,” he said in his welcoming address.
According to him, BSSF provides flexible financing with competitive terms and sufficient periods to help companies stabilise operations and accelerate growth.
He said the fund is also supported by guarantee mechanisms through collaboration with financial institutions and alternative financing platforms, besides being reinforced by non-financial programmes such as Ascend, Enhance and Accelerate.
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The implementation of BSSF is also expected to support more than 100 startups and create at least 500 high-quality job opportunities in Sabah, he said, adding that additionally, the initiative will help strengthen local supply chains by increasing the participation of Bumiputera companies as main suppliers in large-scale development projects.
The Blue Economy will serve as a strategic driver under the Hala Tuju Sabah Maju Jaya (SMJ) 2.0 roadmap to transform the State’s economic structure towards high value-added, inclusive and sustainable growth.
Chief Minister Datuk Seri Hajiji Noor said the approach leverages Sabah’s maritime advantages and rich biodiversity, encompassing various strategic sectors including modern fisheries, aquaculture, marine biotechnology, maritime logistics and nature-based tourism.
“This approach aligns with the core thrusts of empowering the people’s economy, regional balance, innovation and environmental sustainability that underpin SMJ 2.0,” he said when officiating the Teraju Aspirations Outreach Sabah 2026 Programme at Sabah International Convention Centre (SICC), Thursday.
He said the plan is projected to generate up to RM3.25 billion annually from marine resources through the fisheries and aquaculture sectors, thereby creating new growth opportunities for the State’s economy.
The sector continues to show encouraging performance, contributing RM9.18 billion to the national Gross Domestic Product (GDP) up to the third quarter of 2025, with marine output exceeding 1.91 million metric tonnes valued at approximately RM6.05 billion.
On the State’s development achievements, he said the implementation of SMJ 1.0 (2021–2025) has successfully laid a strong foundation for Sabah’s economic recovery and improved the wellbeing of the people, despite global uncertainties.
“During this period, Sabah made history when the State revenue collection reached nearly RM7 billion for the first time, recording RM6.96 billion in 2022, RM6.97 billion in 2023 and remaining strong at RM6.76 billion in 2025,” he said.
He said this performance was also supported by an increase in the State GDP, which reached RM84.3 billion in 2024 compared to RM77.8 billion in 2020, positioning Sabah as the seventh-largest contributor to the national economy.
He added that GDP growth for 2025 is projected to expand by around 1.5 per cent, reflecting the State’s stable economic momentum.
He said the success of SMJ 1.0 has instilled confidence that Sabah is on the right track, further driving the implementation of SMJ 2.0, which calls for a comprehensive shift, including changes in mindset, work approaches and the creation of new value for the people.
“This direction is also aligned with the implementation of the 13th Malaysia Plan (13MP) to ensure the continuity of the State’s development until 2030,” he said.
Meanwhile, Hajiji said the organisation of the Teraju Aspirations Outreach Sabah 2026 Programme demonstrates the important role of Bumiputera Agenda Steering Unit (Teraju) as a facilitator in strengthening Bumiputera economic development in Sabah.
He said the outreach programme not only provides access to financing and capacity building, but also opens up broader business networking opportunities for local entrepreneurs.
“This platform also serves as a bridge connecting Government policies with implementation at the grassroots level, ensuring that development benefits are delivered more comprehensively,” he said.
In this regard, he urged Bumiputera entrepreneurs in the State to fully leverage the opportunities provided, including exploring new sectors such as the Blue Economy, which holds great potential if developed strategically.
