By Ashley Sim
KUCHING, May 27: The Sarawak-Malaysia My Second Home (SMM2H) programme has generated RM65.3 million in fixed deposit placements from January to mid-May 2025, with 265 applications approved during this period, Sarawak Minister for Tourism, Creative Industry, and Performing Arts, Dato Sri Abdul Karim Rahman Hamzah revealed.
Abdul Karim, who is also Asajaya assemblyman, noted that the rise in approved applications has had a significant economic impact.
“In 2024, 560 applications were approved with the applicants’ Fixed Deposits amounting to RM111.6 million,” he said during his ministerial winding-up speech at the Sarawak Legislative Assembly (DUS) here today.
Abdul Karim further stated that his ministry (MTCP) currently plays a dual role in administering the SMM2H programme, which includes processing applications and managing the licensing of SMM2H agents.
“SMM2H programme launched in 2007 and was initially led by the Sarawak Immigration Department.
“During the tenure of 13 years (2007-2019), Sarawak Immigration Department approved a total of 1,240 applications,” he added.
He went on to say that in 2020, his ministry took over management of the SMM2H programme and established the SMM2H Panel Coordination Committee.
“Several adjustments were made to enhance and make the programme more attractive and competitive.
“Within the period of 5 years and 4 months from 2020 until today, the number of approved applications has increased significantly to 1,901.
“Since its inception, a total of 3,141 applications were approved between January 2007 until mid-May 2025.”
Abdul Karim highlighted that the top participants in the programme come from China (513), the United Kingdom (384), Taiwan (277), Hong Kong (267), and the United States (262), making up the five largest contributor countries.
“For the information of this August House, the Federal government through the Ministry of Tourism, Arts, and Culture (MOTAC) had empowered my ministry to manage local tourism Business Licenses for SMM2H under the Tourism Industry Act 1992 (Act 482).
“The authorisation was conveyed to my ministry via the Letter of Commission by MOTAC dated October 30, 2024,” he said.
He added that effective January 1, 2025, a licensing framework has been introduced for SMM2H agents, alongside the formation of a dedicated SMM2H Panel Bank to facilitate fixed deposit account setup and provide attractive banking packages for applicants. — DayakDaily
