THE Sarawak-Malaysia My Second Home (SMM2H) programme has attracted RM65.3 million in Fixed Deposit (FD) placements from January to mid-May this year, underscoring its growing appeal and economic contribution to the state.
Sarawak Tourism, Creative Industry and Performing Arts Minister, Datuk Seri Abdul Karim Rahman Hamzah, said the sum was contributed by 265 approved applicants during the period.
In 2024 alone, the programme saw 560 successful applications with total FD placements amounting to RM111.6 million, he revealed in his ministerial winding-up speech in the Sarawak Legislative Assembly (DUN) sitting today.
“The surge in approved applications has translated into tangible economic impact for Sarawak,” Abdul Karim said.
He noted that since Sarawak assumed full control of the SMM2H programme in 2020, 1,901 applications have been approved over the past five years and four months.
Combined with 1,240 approvals recorded from 2007 to 2019 under the Sarawak Immigration Department, the total number of approvals has reached 3,141 as of mid-May 2025.
“My ministry currently plays a dual role in managing the programme, covering both application processing and the licensing of SMM2H agents.
“We have also made several improvements to ensure the programme remains attractive and competitive,” he said.
Abdul Karim said participants from China top the list with 513 approvals, followed by the United Kingdom (384), Taiwan (277), Hong Kong (267), and the United States (262).
To support the programme’s growth, Sarawak introduced a licensing framework for SMM2H agents effective January 1 this year and established a Panel Bank to assist with FD account openings and to offer specialised banking packages to participants.
In a related development, Abdul Karim announced that the federal government has authorised Sarawak to manage local tourism business licences under the Tourism Industry Act 1992 (Act 482).
“This authorisation was officially conveyed via a commission letter from the Ministry of Tourism, Arts and Culture (MoTAC) dated October 30, 2024,” he said.
