By Danial Dzulkifly
SHAH ALAM, Sept 25 — The Selangor government will prioritise investing more equity in strategic ventures that will provide a steady stream of income or dividends year-on-year rather than relying on property play, said Menteri Besar Selangor (Incorporated), or MBI.
Its chief finance officer Zaniffa Azura Ahmad said the state administration is looking towards recurring revenue models, and will not focus merely on land sales, but rather on sustainable, value-driven development.
“We need to move away from the traditional model of just selling land. For example, during the Selangor Aviation Show, we showcased a collaboration with Malaysian Airport Holdings Bhd to redevelop parts of the Subang Airport, which is a big deal for us.
“That collaboration allows us to be involved in the Aeropolis project. This represents a new recurring revenue model, not just focused on property play, but on sustainable, value-driven development,” she told Media Selangor when met at the 2025 Selangor State Budget dialogue held at Setia City Convention Centre here yesterday.
Zaniffa said the new model would provide better financial sustainability for the state administration, which would help with better financial planning year-on-year.
She said that with the added revenue, the state can implement more people-oriented programmes to help those most in need.
“Our current approach is all about sustainable development, following methodologies driven by ESG (environmental, social, governance). Imagine if we can pass a little bit of the cost to society. I don’t think they would mind paying as we are preserving water, preserving the environment.
“Having that extra income for the state will help a lot and this is the direction in which we should be moving forward,” she said.
Using the Selangor Maritime Gateway Economic Development Zone as an example, Zaniffa said the economic corridor along Sungai Klang is already valued at RM1 billion, with sustainable methods that have improved water quality for the river to be used as a water source.
“Like any other project, we always aim for impact assessment, but with MBI and economic corridors, we want to go a step further.
“We focus on value creation by understanding the dynamics of an area, and now we aim for sustainability in that value creation. One example is the SMG corridor development, which has a potential value of over RM1 billion.
“We’re seeing results, like a water treatment plant benefiting from this corridor, which lowers the cost of treating water,” she said.
Other economic corridors, which include grand-scale district plans including the Sabak Bernam Development Area, Integrated Development Region in South Selangor, and the Hulu Selangor and Kuala Selangor Development Zone, were announced in the 2024 Selangor State Budget to boost food security in the state.
The dialogue session yesterday involving key stakeholders such as state agencies, private firms, and industries within the Selangor ecosystem, was meant to gather input on the 2025 state budget, due to be tabled in November.
