/// East Malaysia Property News
RM2.5 Billion Tourism Project in Semporna, Not Sipadan
stakeholders within the SDC and
safeguard the public confidence.
Since the start of the second phase
of the SDC, SEDIA has accordingly
been more aggressive in attracting
investments into Sabah. In line with
this emphasis, SEDIA has been
participating in State-sponsored and
MITI/MIDA-led investment and trade
missions locally and abroad.
The response from these missions
has been very encouraging, having
stirred significant interest and
drawing substantial investment
in the sectors promoted under
the Halatuju agenda and the SDC,
vis in tourism, agriculture and
manufacturing, amongst others.
The project site is situated alongside Kalumpang River, Tawau and is an
estimated 35 minutes away from Sipadan Island, by speedboat
The Sabah Economic Development
and Investment Authority (SEDIA)
clarified that the proposed RM2.5
billion tourism-based integrated
development project is to be
situated in Semporna and not in
Sipadan.
SEDIA said yesterday that it had
been inadvertently stated that the
project is to be sited on Sipadan
Island.
The meeting last week with the
China investors of the project was
also attended by an officer from
the Ministry of Tourism, Culture
and Environment, and not an
officer from the Sabah Tourism
Board as previously stated, it
added.
As commented by Tourism, Culture
and Environment Minister Datuk
Seri Panglima Masidi Manjun,
SEDIA said the project with Diving
Best is in fact an expansion of the
existing Sipadan Mangrove Resort
(SMR), an Entry Point Project (EPP)
listed under the Regional Cities
and Corridors programme with
an estimated investment value of
RM491 million, and set to generate
RM114.9 million in GNI in 2020.
The collaboration between Diving
Best and SMR is the result of
successfully matching the China
investors with a local business
partner after their first meeting
with SEDIA. The location of the
proposed project was decided on
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private land belonging to SMR,
with a land size of 280 acres and
was chosen for its close proximity
to Sipadan Island; 35 minutes by
speedboat.
SEDIA recognises the significance
of preserving Sipadan Island in its
natural state, and any confusion
that had arisen from the previous
statement is deeply regretted, it
said in a statement.
As listed in the Sabah Development
Corridor (SDC) blueprint, one of the
three key principles underpinning
SDC activities is the need to
ensure sustainable growth via
environmental conservation. The
other two principles are capturing
higher value economic activities
and promoting balanced economic
growth with distribution. These
three principles continue to guide
SEDIA in its role of facilitating
investment into Sabah, of which it
has managed to capture significant
interest.
SEDIA last year had its accounts
for the year 2012 given a clean bill
of health by the Attorney General,
for the fourth straight year in
fact. This is a clear indication of
the good management practices
within SEDIA, of which SEDIA has
strengthened its management
process by achieving the MS
ISO9001: 2008 standard to further
enhance the quality of these
practises. This effort was made
to ensure the confidence of all
These measures have begun to
show results, as evidenced by the
vibrant investment climate and from
its launching in 2008, cumulative
committed investment in the SDC
has reached RM127 billion as at the
end of 2013.
It was announced at the end of
February, 2013 by the Malaysian
Investment Development Authority
(MIDA) that the Sabah Development
Corridor recorded the highest
investment garnered in the
manufacturing sector for the year
2012, at RM5 billion.
To further increase investor interest
in the SDC, the Federal Ministry of
Finance had also approved a tax
incentives package listed under the
SDC. The package will enable SEDIA
to further attract investors globally
and from other parts of Malaysia,
promoting Sabah as an ideal
location for conducting business.
The investment tax incentive
package will cover activities
in, among others; tourism,
manufacturing, agriculture, and
major industries located within the
Strategic Development Areas of
the SDC. These tax incentives are
applicable for applications received
by SEDIA up until 31 December
2020.
With all the measures being
implemented by the State and
Federal Governments, Sabah in
particular and Malaysia as a whole
will continue to prosper. Therefore
the undivided support of all
Sabahans towards the SDC initiative
will enable the enormous task of
transforming the state and national
economy continue, unhindered.
...one of the three key principles underpinning
SDC activities is the need to ensure sustainable
growth via environmental conservation. The
other two principles are capturing higher valu e
economic activities and promoting balanced
economic growth with distribution.