SALCRA has approved the principle of 5,000 hectares of land, consolidating new sources of income

KUCHING, Oct 13: Sarawak Land Association and Restoration Board (SALCRA) receives approval in principle for the privatisation of 5,000 hectares of land to explore new economic activities, thereby strengthening its financial stability in the long run.

Minister of Food Industry, Commodities and Regional Development Sarawak Dato Sri Dr Stephen Rundi Utom said the approval allows SALCRA to expand revenue sources in line with the state-owned enterprise (SOE) transformation agenda.

According to him, the approval by the Sarawak Premier, Datuk Patinggi Tan Sri Abang Johari Tun Openg provided an important foundation for SALCRA to develop business beyond the traditional field sector.

"We are grateful to the Prime Minister of Sarawak for the approval in principle of the privatisation of 5,000 hectares of land to SALCRA. The land will be an important foundation for developing new revenue-generating activities and strengthening the long-term financial stability of the organisation", he said.

He said this while addressing the SALCRA Golden Jubilee Dinner Ceremony on the occasion of 50th anniversary of Sow, Grow, Prosper at Imperial Hotel here last night.

Rundi who is also the Chairman of SALCRA said that the initiative is part of the SALCRA Transformation Plan 2026-2030 which focuses on strengthening governance, increasing profits and diversifying revenue sources.

Among the potential areas to be explored are green and renewable energy, bio and organic fertilizer production, food safety as well as palm oil extraction industry, in addition to commercializing SALCRA's expertise in consultancy services and plant management.

In the meantime, he revealed that SALCRA has distributed almost RM1.22 billion in net returns or dividends to participants since 1985, resulting from systematically worked land development of the Bumiputera Customs Rights (NCR).

"Since 1985, SALCRA has distributed almost RM1.22 billion in net returns or dividends to participants. This is a very significant achievement and such contributions to the owners of Bumiputera land deserves due recognition", he said.

Rundi added that 100 percent of the financial surplus from SALCRA's operations is also distributed to land owners participating in the scheme, thus ensuring they enjoy direct economic benefits from their respective land development. - TVS