KUALA LUMPUR, Khazanah Nasional Bhd has channelled more than RM6 billion into the development of Medini Iskandar and Desaru Coast in Johor, according to the Ministry of Finance (MOF).
In a written parliamentary reply on Tuesday, the MOF said the investments aim to attract private capital and generate employment opportunities, particularly in property development, housing, education and tourism across the two key destinations.
Yeo asked about the development status and investment amount for Medini Iskandar and Desaru Coast.
“Khazanah’s investments are aligned with the government’s mandate to position Iskandar Malaysia as a special economic corridor, with expansion into Desaru Coast complementing broader development efforts in Johor,” the ministry said.
It added that large-scale developments such as Medini Iskandar and Desaru Coast typically require a long gestation period of between 30 and 40 years, supported by catalytic investments to unlock their full potential.
The MOF noted that Medini Iskandar has been designated as Zone B under the Johor-Singapore Special Economic Zone (JS-SEZ), while Desaru Coast falls within Zone G.
“Efforts will continue to be intensified to ensure both developments contribute meaningfully to Malaysia’s economic growth and strengthen the nation’s appeal as a preferred investment destination,” the statement said.
Separately, the MOF also disclosed that Petroliam Nasional Bhd’s (Petronas) dividend to the government is projected to decline to RM20 billion in 2026, from an estimated RM32 billion in 2025.
It said petroleum-related revenue is expected to fall 24% to RM43 billion in 2026, compared to RM56.6 billion estimated for this year, due to lower global crude oil prices.
“The government remains committed to reducing its reliance on petroleum-related income amid global oil market volatility. From a fiscal standpoint, the federal government will continue to prioritise spending optimisation, sustainable revenue generation and comprehensive economic reforms to support long-term growth,” the ministry added.
