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Sarawak Second Home Program Approves 265 Applications in First Five Months of 2025 · IMI Podcasts

• 0:00
  SPEAKER_00: Sarawaks Malaysia.
• 0:02
  SPEAKER_00: My second home, or the SMM two H program, approved 265 applications between January and mid-May 2025, generating 65.3 million Malaysian ringgit or 15.4 million US dollars in fixed deposits, tourism, creative industry, and performing arts.
• 0:24
  SPEAKER_00: Minister Daito Shri Abdulkarim Rahman Hamza revealed this information to the state legislative assembly.
• 0:30
  SPEAKER_00: The program has shown steady growth in recent years, approving 542 applications in 2023.
• 0:36
  SPEAKER_00: The minister noted that in 2024, the program approved 560 applications, with the applicants' fixed deposits amounting to 111.6 million Malaysian ringgit, highlighting the program's continued growth trajectory.
• 0:52
  SPEAKER_00: At current rates, the program could exceed 700 approvals by year-end, representing a 26% increase over last year.
• 1:01
  SPEAKER_00: Chinese nationals continued to dominate the applicant pool with 513 total approvals since 2007, followed by the United Kingdom at 384, Taiwan at 277, Hong Kong at 267, and the United States at 262.
• 1:20
  SPEAKER_00: These five nations comprise the largest contributing countries to the program.
• 1:25
  SPEAKER_00: The program launched in 2007 under the Sarawak Immigration Department, which approved 1,240 applications during its 13-year tenure through 2019.
• 1:37
  SPEAKER_00: The transformation accelerated when Abdul Karim's ministry assumed control in 2020, establishing the SMM2H Panel Coordination Committee.
• 1:47
  SPEAKER_00: The minister emphasized that his ministry made several adjustments to enhance and make the program more attractive and competitive, resulting in a surge of approvals.
• 1:57
  SPEAKER_00: While Sarawak's 560 approvals in 2024 generated 111.6 million Malaysian ringgit, the Federal MM2H program approved 782 applications, generating 455.8 million Malaysian ringgit, or 102 million US dollars, through its tiered silver, gold, and platinum categories, demonstrating the different scales and structures of the two programs.
• 2:24
  SPEAKER_00: Within five years and four months of ministerial management, approved applications jumped to 1,901, bringing the total since inception to 3,141.
• 2:35
  SPEAKER_00: The program's economic contribution has grown substantially under state management.
• 2:39
  SPEAKER_00: Based on the first five months performance, 2025 deposits could exceed 2,024 levels by 40%, representing the program's strongest financial performance since inception.
• 2:53
  SPEAKER_00: This episode first appeared as an article by Ahmad Abbas on IMIDAily.com.
• 2:59
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