KFH in talks with 12 Sabah firms for financing deals

KUALA LUMPUR: Kuwait Finance House (Malaysia) Bhd is in talks to provide financing deals to about 12 companies in Sabah operating across different sectors. Its managing director and chief executive officer Datuk K Salman Younis said the deals would fall under the Sabah Development Corridor, which was launched in January. KFH had then announced it was in talks to finance two projects related to the infrastructure and real estate sectors. “We have executed a memorandum of understanding (MoU) with one party, and are in negotiations with another party. We are now in final negotiations with the party that we signed the MoU with but nothing has been finalised as yet,” Salman said. Read more

(The Edge 29-2-2008)

KFH in talks on projects in Sabah Development Corridor

KUALA LUMPUR: Kuwait Finance House (M) Bhd (KFH) is in talks with 10 to 12 companies eyeing projects in the Sabah Development Corridor (SDC). Managing director Datuk K. Salman Younis said it was talking to the companies about different financing opportunities. “It is an ongoing process, and hopefully before year-end, the deals will start happening,” he told reporters after KFH signed a master terms of reference agreement with Calyon London to conclude an Ijarah Rental Swap-i (IRS-i) transaction yesterday. Read more>

(The Star 29-2-2008)

New Power Plant In Sabah

The Cabinet has awarded the planting up of a new 100mw power plant in Sabah to a little known company called SPR Energy Sdn Bhd, say sources. The gas-fired power plant will be built in Kota Belud to cater for industries that are expected to mushroom in the area as a result of the Sabah Economic Corridor.

(11-02-2008 The Edge)

KK Promises An Eco-Friendly Waterfront Project

At the launch of the SDC, a tripartite agreement was signed between WUD, KFH and Intonasi Intan Sdn Bhd witnessed by Prime Minister Datuk Seri Abdullah Ahmad Badawi . WUD managing director Reymee Mohamed Hussein said the development would incorporate environmentally friendly features like hi-tech LED lighting, energy conserving air conditioning systems and solar powered pedestrian lighting along the boardwalk. Reymee, together with Geoffrey P.J. Lee, conceptualised the Kota Kinabalu City Waterfront development masterplan with DBKK. He gave the assurance that there would be no reclamation work.

(5-2-2008 The Star)

Suria Capital looks for strategic partner

PETALING JAYA: Suria Capital Holdings Bhd has mapped out plans to reap the economic benefits of the Sabah Development Corridor (SDC) by expanding and developing its Sapangar Bay port into a transhipment hub for the Brunei-Indonesia-Malaysia-Philippines East Asean Growth Area (BIMP-EAGA). In addition, the expansion of palm oil downstream activities in the state would also lead to an increase in businesses. Suria Capital's subsidiary, Sabah Ports Sdn Bhd (SPSB), operates eight ports in Sabah. Sapangar Bay Container Terminal, which started operations in July last year, is the newest port in its stable. The throughput volume in Sapangar Bay terminal was about 280,000 TEUs (20-foot equivalent unit) during its first six months of operation, of which 90% was local.

(31-1-2008 The Star)

Exciting times ahead for tourism sector

Sabah’s tourism industry, which has been identified as a key driver for the state’s development, can look forward to exciting times. In line with the Sabah state government’s aim to make every year a “Visit Sabah Year”, the Sabah Development Corridor (SDC) masterplan has incorporated three developmental phases, designed to transform Sabah into one of the most liveable places in Asia by 2025. In Phase One, the blueprint will focus on addressing the basics to support tourism development and lay foundations for its future growth. Phase Two will see Sabah strengthen its position as a premier eco-adventure destination via conservation and sustainable development of new tourism products, which will be anchored by signature resorts. Lastly, Phase Three will turn Sabah into a bustling metropolis within a tropical paradise.

(The Sun 30-1-08)

Launch of corridor heralds new era for Sabah

KOTA KINABALU: A total of RM105bil in investments, 900,000 jobs, a waterfront city, tourism projects and a RM600mil new Sabah Railway terminal ? these are among the things Sabahans will get when the Sabah Development Corridor (SDC) is completed in 18 years.

Five key thrusts of the SDC, which will be to:

1. make Sabah the gateway for trade, investment and tourism in the region.
2. transform the state into a harmonious and prosperous state regardless of race or religion.
3. make the state more technology-savvy to ensure a better quality of life.
4. provide job opportunities in the state.
5. make Sabah a comfortable state to live in with good quality of life accentuated with diverse cultures, heritage and environment.

(30-1-2008 The Star)

Launch of corridor heralds new era for Sabah

KOTA KINABALU: A total of RM105bil in investments, 900,000 jobs, a waterfront city, tourism projects and a RM600mil new Sabah Railway terminal these are among the things Sabahans will get when the Sabah Development Corridor (SDC) is completed in 18 years.

Five key thrusts of the SDC, which will be to:

1. make Sabah the gateway for trade, investment and tourism in the region.
2. transform the state into a harmonious and prosperous state regardless of race or religion.
3. make the state more technology-savvy to ensure a better quality of life.
4. provide job opportunities in the state.
5. make Sabah a comfortable state to live in with good quality of life accentuated with diverse cultures, heritage and environment.

(30-1-2008 The Star)