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Old January 30th, 2008, 02:32 AM   #21
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Suria Capital to build properties in KK
Published: 2008/01/29



SURIA Capital Holdings Bhd will build several properties in the Jesselton Waterfront Project in Kota Kinabalu, Sabah, in separate deals with Kota Kinabalu Pavilion Sdn Bhd, IJM Properties Sdn Bhd and Glomac Bhd. In a statement yesterday, Suria Capital said it will develop a five or six star 11-storey boutique hotel and a 16-storey 200 unit condominium with IJM. It will also construct a five-storey and 10-storey luxury condominium, three-storey and four-storey shops and offices with Glomac and a three-storey and 10-storey commercial and office building with Pavilion.
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Old January 30th, 2008, 04:48 AM   #22
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Suria signs MoUs for KK development

PETALING JAYA: Suria Capital Holdings Bhd has signed memoranda of understanding (MoUs) with Kota Kinabalu Pavilion Sdn Bhd, IJM Properties Sdn Bhd and Glomac Bhd for the development of certain specified precincts of the Jesselton Waterfront Project.

Suria group managing director Datuk Abu Bakar Abas said on Tuesday that the MoUs were signed for the purpose of combining the resources and expertise of the various parties in the development of the project. He said the development would be undertaken via individual joint ventures with the three companies concerned in which Suria's subsidiary, Suria Bumiria Sdn Bhd, would hold 50% of the equity, with the rest to be held by the individual companies.

The MoUs called for the development of 5- and 10-storey luxury condominiums called Suria Avenue, and 3- and 4-storey shopoffices called Suria Boulevard with Glomac, a 5- or 6-star boutique hotel and 16-storey condominium with 200 units called Suria Vista with IJM, and 3- and 10-storey commercial and office buildings with Kota Kinabalu Pavilion.
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Old January 30th, 2008, 05:51 AM   #23
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SP Setia To Construct Transportation Hub For Sabah

KUALA LUMPUR, Jan 29 (Bernama) -- S P Setia Bhd Group will construct the transport terminal, new headquarters and ancillary buildings of Jabatan Keretapi Negeri Sabah on part of a 24-hectare land in northeast of the Tanjung Aru township.

The proposed site is easily accessible from Kota Kinabalu International Airport (KKIA) and the Low Cost Carrier Terminal 2, said S P Setia in a statement.

S P Setia's subsidiary, Aeropod Sdn Bhd today formalised the agreement with the State Government of Sabah.

In return, S P Setia will procure the right to develop the balance of 16.72 hectares of the land into a mixed residential and commercial project named [email protected] Aru with a projected gross development value of RM1billion, further complementing the Federal and State Government's efforts to realise the East Malaysian state's full economic potential.

Among the proposed components of this fully integrated project are a shopping mall, a 5-star hotel, a 3-star hotel and residential condominiums.

"Our success in securing this project gives us a crucial stepping stone to springboard the S P Setia stable of brands into Sabah and capitalise fully on the state's anticipated economic boom," commented Tan Sri Liew Kee Sin, Group Managing Director and Chief Executive Officer of S P Setia.

In recent years, Sabah has witnessed increasing economic growth and development activities thanks to its healthy tourism industry and expanding population, estimated at 3.3 million in 2007.

As the main gateway into Borneo, the KKIA, which handled more than four million passengers in 2006, is the second busiest airport in Malaysia after the KL International Airport.

Major renovation and extension work on the KKIA is currently underway, and when completed is expected to expand annual passenger capacity to 12 million.

Coupled with the launch of the SDC spanning a period of 18 years from 2008 to 2025 focusing on three sectors - agriculture, manufacturing and services - Sabah's future prospects are greatly enhanced and offer exciting possibilities to be tapped by developers, said S P Setia.
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Old January 30th, 2008, 08:39 AM   #24
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Launch of corridor heralds new era for Sabah
Wednesday January 30, 2008
By MUGUNTAN VANAR and RUBEN SARIO
TheStar



Ambitious plans: Abdullah and his wife Jeanne taking a closer look at models
of buildings planned for the waterfront city project during the SDC launch in
Kota Kinabalu yesterday.


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.

In addition, Gross Domestic Product will be up to RM63bil and an annual per capita income will hit RM14,800.

As an immediate measure, Prime Minister Datuk Seri Abdullah Ahmad Badawi announced an extra RM5bil allocation under the Ninth Malaysia Plan to improve infrastructure and to reduce the cost of doing business in the state.

And minutes after Abdullah launched the SDC, 13 MoUs were signed involving international companies from China, the United States and Japan for various projects worth RM16bil.

These developments include housing, condominiums, hotels, the waterfront city, ports, tourism projects and the railway terminal at Tanjung Aru.

The Prime Minister said the SDC was to transform Sabah into an environmentally conscious and modern state and gave an assurance that every aspect of the corridor development would benefit all Sabahans.

“Today we see the Land Below the Wind take a quantum leap to be developed and be prosperous,” he said to applause from the crowd at Sapangar Container Port here yesterday.

He outlined five key thrusts of the SDC, which will be to:

> make Sabah the gateway for trade, investment and tourism in the region.

> transform the state into a harmonious and prosperous state regardless of race or religion.

> make the state more technology-savvy to ensure a better quality of life.

> provide job opportunities in the state.

> make Sabah a comfortable state to live in with good quality of life accentuated with diverse cultures, heritage and environment.

Abdullah said that with the realisation of the five key aspects, the face of Sabah would be totally changed under the plans which would not leave out any group or region in the state.

“This is not a daydream. We are not making an empty promise. There is no doubt there is a lot of challenges but we will ensure that the Sabah corridor will be a success,” he said.

Under the SDC, the state’s west coast would see an industrial sub-corridor and agro-food industry for small and medium enterprises. For the central and northern zones, there will be an agripolitan zone, tourism, highland agriculture and agro-forestry.

The east coast will have industries, marine tourism, integrated agro food industry, agro-biotechnology, and palm oil-based industry zones.

Abdullah said that the overall focus of the SDC was to promote Sabah’s inherent strengths that included its location, rich natural resources as well as cultural and biological diversity that can become high potential economic activity.

The sectors being promoted would be agriculture, tourism and logistics, services and manufacturing, he said.

He said they also hoped to bring in more tourists to the state by developing eco-tourism destinations like Sipadan, Danum Valley and Darvel Bay.

Abdullah said the federal government would liberalise the open skies policy for air travel to Sabah.
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Old January 31st, 2008, 02:27 AM   #25
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Kota Kinabalu Waterfront development unveiled

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KUALA LUMPUR: Waterfront Urban Development Sdn Bhd (WUD) has unveiled its RM500 million Kota Kinabalu City Waterfront (KKCW), an integrated mixed seafront development situated on the waterfront of Kota Kinabalu.

In a statement yesterday, it said the development would be done in collaboration with the Kota Kinabalu City Council (DBKK) within the Sabah Development Corridor (SDC).

Prime Minister Datuk Seri Abdullah Badawi witnessed the signing of the tripartite agreement between WUD, Kuwait Finance House (Malaysia) Bhd and a consortium of Middle Eastern and Malaysian investors.

The development is expected to be completed by 2010 and would feature a 2km long boardwalk rising from the sea on stilts and connect a variety of retail, lifestyle, residential and hotel establishments, it said.

KKCW would also incorporate environmentally friendly features like hi-tech LED lighting, energy conserving air conditioning systems and solar powered pedestrian lighting along the boardwalk, WUD managing director Reymee Mohamed Hussein said.

“WUD designed this development to unlock the potential of the city’s waterfront and to be comparable with other world-class waterfront developments.

“KKCW will feature one of the longest city waterfront boardwalks in Asia and is poised to become the city’s prime tourist attraction, making it an integral part of Sabah’s hospitality industry.

‘‘The KKCW project will no doubt attract higher-yielding tourists as it aims to be among the world’s great seafront destinations,” he said.

“The KKCW development is in line with SDC’s and DBKK’s overall urbanisation and development masterplan which is primarily to increase the role of coastal cities as catalysts for modernisation and development in Sabah,” Reymee added.

He said the development was envisaged after conducting detailed studies of thriving world-class international waterfront attractions such as Darling Harbour in Australia, Cape Town Waterfront in South Africa, Victoria Harbour in Hong Kong, Canary Ward in London and Clark Quay Riverside in Singapore.
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Old February 2nd, 2008, 04:18 AM   #26
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Biofuel Crop to Help the Poor

2008-01-30
New Straits Times

KOTA KINABALU: Poverty in the interior districts of Nabawan, Tenom, Tambunan and Keningau could be a thing of the past within two years.

Thanks to a Sabah Land Development Board (SLDB) scheme to cultivate biofuel crop jatropha curcas on a commercial basis, the 3,000-odd hardcore poor families there could look forward to a sustainable income.

All they need to do is work on a 3ha land to be provided by the state-owned SLDB and diligently tend to their plot to reap the harvests.

The project is a joint-venture between the SLDB and three foreign companies from Japan, Korea and the United States and is part of the Sabah Development Corridor (SDC) initiative.

The memoranda of the joint-venture was signed on Tuesday in conjunction with the launching of the SDC by Prime Minister Datuk Seri Abdullah Ahmad Badawi.

The venture would involve investments of RM320 million by the Nihon Biotech of Japan, TKM Korea Biofuels Resources and local- based American company Kelana Stabil Sdn Bhd.

SLDB general manager Jhuvarri Majid said the immediate plans were to proceed with its nursery on a 10ha land.
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Old February 4th, 2008, 08:58 AM   #27
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From The Edge

Strengthening Sabah’s infrastructure and logistics


The much-awaited Sabah Development Corridor (SDC) was launched last Tuesday and it was no coincidence that it was held at Sabah’s newest port, Sepangar Bay Container Port (SBCP).

The SDC blueprint has identified strategies to make “The Land Below the Wind” a regional trading hub through modern infrastructure and logistics.

The logistics element is one of the strategies aimed at addressing the current high cost of doing business in the state.
The strategy for cost reduction is three-pronged:

* Lowering freight and logistical costs through a progressive review of the Cabotage Policy for shipping;
* Enhancing the cost competitiveness of ports in Sabah via alliances with other global port operators and shipping liners; and
* Establishing the Sepangar Free Zone (SFZ), which is annexed to SBCP, by providing attractive incentives to potential investors to set up their manufacturing facilities and distributions in SFZ.

Subsequently, the new SBCP and part of Kota Kinabalu Industrial Park (KKIP) will be positioned as the main logistics hub and free trade zone to act as the catalyst and support for industrial development.

Apart from growing domestic trade, the port will also be a catalyst to international trade, including boosting transhipment of goods between Southeast Asia (Brunei and the Philippines) and North Asia (Japan, Korea and China).
The SDC blueprint will also position Sandakan as the regional trading hub in Borneo by expanding the role of Sandakan Integrated Trade Exchange Terminal (SITExT) to leverage on the Asean Free Trade Area.

The expansion of the Kota Kinabalu International Airport (KKIA) is set to complement SBCP to make the state’s capital city its main gateway, providing efficient air and sea linkages to regional markets.

Currently, Terminal 1 of KKIA is used for regular fare airlines, while Terminal 2 is for low-cost carriers. The upgraded Terminal 1 will be able to cater to 10 million passengers annually, and Terminal 2 will be transformed into a full-fledged cargo terminal.

KKIA will also be able to cope with the anticipated increase in cargo volume, which, in 2006, was 19.2 million kg, an increase of 10.5% over 2005 figures, while cargo loaded rose 11.1% to 18.5 million kg in the same period.

Also in the pipeline is the expansion of the Sandakan airport, currently considered a second eastern gateway to Sabah.
A new airport in Lahad Datu is also being considered to accommodate Airbus 320 size aircraft which will support the development of aquaculture and tourism.
According to officials from Malaysia Airports Holdings Bhd, KKIA is expected to attract more flights to and from Sabah, especially from the Far East, such as Hong Kong, China and Korea, and Australia.

Improving road networks
Sabah’s rugged terrain poses a challenge for inter-connectivity via its road systems. Its central sub-region is separated by the Crocker Range, forming a natural barrier to better road connectivity between the central and western sub-regions.

As such, the major towns of Kota Kinabalu, Sandakan, Lahad Datu, Tawau and Keningau are not well inter-connected compared with the road network in Peninsular Malaysia.

As of 2005, only 38.9% of Sabah’s 1,428km of federal roads and 14, 249km of state roads were tarred compared with 89.4% for tarred roads in Peninsular Malaysia.

The SDC blueprint projects 80% of all gravel roads to be tarred within its 18-year implementation. The master plan will also involve major road projects linking central Sabah to the south, north and western sub-regions.

This is in line with the Ninth Malaysia Plan (9MP), under which RM3.19 billion has been allocated for road networks.

Similarly, under the rural roads programme of the 9MP, more roads of minimum JKR standards will be constructed to improve the transportation of agricultural produce.

The roads are expected to increase accessibility to tourism areas in the eastern sub-region such as Lahad Datu and Maliau, while upgraded roads from Kota Kinabalu Industrial Park to Sepangar Bay will enable transportation of container cargo.

In addition, the programme will be expanded to connect resettlement areas to rural industrial areas and estates to enhance the mobility of the rural population who work in these areas, thereby contributing towards reducing the development gap between urban and rural areas.

Powering up Sabah
Currently, Sabah’s electricity coverage is 67% of the population. By 2010, the forecast demand growth of electricity will be in the region of 7.7%, pushing power producers to increase their overall coverage to 90%.

However, Sabah’s electricity network, especially in rural areas, is not as reliable as that in other parts of Malaysia, and its distribution network requires reinforcement.

Nonetheless, reinforcement has already started with the ongoing construction of the new East-West transmission grid, which will stabilise power supply to the east coast. A new 190MW gas-based plant will also be commissioned this year.

To meet the demand as well as improve the reliability of supply for the east coast, a 300MW plant will be constructed in Lahad Datu. The coal-fired plant is being undertaken by Sabah Electricity Sdn Bhd (SESB) and is slated to be operational in 2010.

SESB managing director Baharin Din said: “The power base in Sabah is still small. As such, we welcome the SDC implementation as we believe it will provide support for infrastructure to the rural areas.”

He said besides working with the Ministry of Rural and Regional Development under the Rural Electrification Programme, SESB will channel profits from industrialised areas to provide electricity supply to rural areas in Sabah.

Quenching Sabah’s thirst
Concurrently, the SDC blueprint will also address the issue of water supply shortage in rural areas, which is mainly due to the lack of infrastructure and water sources, besides costly implementation works.

Along with the 9MP, in which a total RM1.3 billion has been allocated to the State Water Department to undertake construction of water projects such as the Milau Dam and water treatment plants, including those in Tuaran, Papar, Kudat and Sandakan, the SDC master plan will implement more groundwater extraction and rainwater harvesting systems in rural areas.

Additionally, it will also focus on reducing non-revenue water that arises from leakages from pipes and pilferage by replacing pipe and meters and mapping distribution networks using the geographical information system.

Virtual connections
Throughout its implementation, the SDC will ensure that Sabah keeps abreast with information and communications technology (ICT) developments to increase the state’s competitiveness and narrow its rural-urban digital divide.

The blueprint involves an expenditure of RM60 million in improving telecommunication networks in new development areas.

It includes a high-speed broadband project, with the setting up of more Wi-Fi hotspots to encourage higher data connectivity and broadband penetration. In the long term, it is expected that WiMAX will also be introduced in Sabah.

Enhancing human capital
The SDC implementation would not be holistic if human capital does not move in tandem with its development plans. Hence, the blueprint will also focus on streamlining human capital requirements to meet local supply.

In line with the second thrust of the National Mission, it will strengthen capacity building in order to develop knowledgeable and skilled human capital to move towards a knowledge-based economy.

One such initiative is the Sandakan education hub, which will cover a total area of 548.75ha of institutions of higher learning, research centres, private colleges and polytechnics.

To date, five colleges have expressed interest in establishing campuses there — including Universiti Malaysia Sabah (UMS) and Kolej Tunku Abdul Rahman (KTAR).

The hub will also provide infrastructure for agriculture, forestry ecological research, and be a key component of the Agrobio Innovation Zone to drive the biotech, palm oil and downstream manufacturing industries.

Institute for Development Studies for Sabah executive director Datuk Dr Mohd Yaakub Johari said: “The education hub will build talents, especially for Sabah’s agriculture sector such as the palm oil industry.

“We can spawn on management and research and development talents, which can help drive the palm oil sector to higher degrees of development and provide value-added products.”
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Old February 5th, 2008, 02:23 AM   #28
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Nation
Tuesday February 5, 2008

KK promises an eco-friendly waterfront project

OVER the last few decades the narrow shoreline of the once serene coastal town of Kota Kinabalu (KK) has changed.

What KK was, in the 1950s or 1960s, is now almost unrecognisable to those who grew up close to it.

It has rapidly changed its face over the last three decades with most of the city centre built on reclaimed land.

Today, Kota Kinabalu City Hall is striving to strike a balance in preserving its old environment, while pushing for development to make the city a world-class leisure and tourism spot, in line with the objectives of the Sabah Development Corridor (SDC).

This rainforest city of over 300,000 people will play the leading role as the gateway to Sabah, which aims to be one of the most liveable places in Asia.

For city planners it is also crucial that the city is ready to impress and help the state woo some RM105bil in development projects for investments under the SDC’s 18-year overall economic development plan.

Environmentalist, however, are worried about pushing Kota Kinabalu's shoreline further into the sea as they believe further changes would bring irreparable consequences to city’s very own treasure.

Their concern is on the proposed Kota Kinabalu waterfront project that offers to transform Kota Kinabalu into an integrated mixed development along a section of the Kota Kinabalu town’s coastline.

The Kota Kinabalu City Waterfront, expected to be completed by 2010, will feature the key attraction of a 2km long boardwalk, built using eco-friendly materials rising above the sea on stilts.

Waterfront Urban Development Sdn Bhd (WUD) is carrying out the entire project in collaboration with Kota Kinabalu City (DBKK).

The project is among those identified under the SDC that aims to make Sabah a major destination for both leisure and business tourism and has also caught the attention of Kuwait Finance House (Malaysia) Bhd (KFHMB) and a consortium of Middle Eastern and Malaysian investors.

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.

“It is primarily to increase the role of a coastal city like Kota Kinabalu to become a catalystfor the modernisation and development in Sabah,” said Reymee, adding that the RM500mil project was conceptualised after studying several thriving world class international waterfront attractions like Darling Harbour (Australia), Cape Town Waterfront (South Africa), Victoria Harbour (Hong Kong), Canary Wharf (London) and Clark Quay Riverside (Singapore).

The development will also spur economic growth for Kota Kinabalu and provide employment and new business opportunities to local residents and businesses.

“Kota Kinabalu City Waterfront will feature one of the longest city waterfront boardwalks in Asia and is poised to become the city’s prime tourist attraction. It will be an integral part of Sabah’s hospitality industry,” Reymee said.

Sabah Environment Protection Association president Datuk Sue Jayasuriya said there was a need to ensure that any development did not turn the rainforest city into a concrete jungle.
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Old February 5th, 2008, 07:29 AM   #29
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Quote:
Originally Posted by haze View Post
Nation
Tuesday February 5, 2008

KK promises an eco-friendly waterfront project

OVER the last few decades the narrow shoreline of the once serene coastal town of Kota Kinabalu (KK) has changed.

What KK was, in the 1950s or 1960s, is now almost unrecognisable to those who grew up close to it.

It has rapidly changed its face over the last three decades with most of the city centre built on reclaimed land.

Today, Kota Kinabalu City Hall is striving to strike a balance in preserving its old environment, while pushing for development to make the city a world-class leisure and tourism spot, in line with the objectives of the Sabah Development Corridor (SDC).

This rainforest city of over 300,000 people will play the leading role as the gateway to Sabah, which aims to be one of the most liveable places in Asia.

For city planners it is also crucial that the city is ready to impress and help the state woo some RM105bil in development projects for investments under the SDC’s 18-year overall economic development plan.

Environmentalist, however, are worried about pushing Kota Kinabalu's shoreline further into the sea as they believe further changes would bring irreparable consequences to city’s very own treasure.

Their concern is on the proposed Kota Kinabalu waterfront project that offers to transform Kota Kinabalu into an integrated mixed development along a section of the Kota Kinabalu town’s coastline.

The Kota Kinabalu City Waterfront, expected to be completed by 2010, will feature the key attraction of a 2km long boardwalk, built using eco-friendly materials rising above the sea on stilts.

Waterfront Urban Development Sdn Bhd (WUD) is carrying out the entire project in collaboration with Kota Kinabalu City (DBKK).

The project is among those identified under the SDC that aims to make Sabah a major destination for both leisure and business tourism and has also caught the attention of Kuwait Finance House (Malaysia) Bhd (KFHMB) and a consortium of Middle Eastern and Malaysian investors.

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.

“It is primarily to increase the role of a coastal city like Kota Kinabalu to become a catalystfor the modernisation and development in Sabah,” said Reymee, adding that the RM500mil project was conceptualised after studying several thriving world class international waterfront attractions like Darling Harbour (Australia), Cape Town Waterfront (South Africa), Victoria Harbour (Hong Kong), Canary Wharf (London) and Clark Quay Riverside (Singapore).

The development will also spur economic growth for Kota Kinabalu and provide employment and new business opportunities to local residents and businesses.

“Kota Kinabalu City Waterfront will feature one of the longest city waterfront boardwalks in Asia and is poised to become the city’s prime tourist attraction. It will be an integral part of Sabah’s hospitality industry,” Reymee said.

Sabah Environment Protection Association president Datuk Sue Jayasuriya said there was a need to ensure that any development did not turn the rainforest city into a concrete jungle.

Impressive real estate: An artist’s impression of the Kota Kinabalu waterfront.
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Old February 29th, 2008, 03:50 AM   #30
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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.

Salman said the companies were interested to get financing for projects such as logging, deforestation, real estate and infrastructure.

The IRS-i would enable clients to hedge their market risk exposure through employing a fully syariah-compliant structure. It is designed to the unique needs of the client, with tenures varying in accordance to the preference of the client.

“The KFH IRS-i will enable our customers to effectively hedge against the risk market rate exposure.

“Companies can convert either their fixed or floating rate cash flow commitments into more manageable rate exposure suitable with their risk appetite, which will help mitigate the occurrence of any negative impact to volatility and uncertainty in the movement of market rates,” he said.
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Old February 29th, 2008, 09:59 AM   #31
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hmmmmm not bad....
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Old March 3rd, 2008, 06:40 AM   #32
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KFH in talks with 12 Sabah firms for financing deals
by Ellina Badri
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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.

He said KFH hoped for the MoU to bear furit next month, and for the second deal to materialise in the second half.

On its ongoing negotiations with the 12 companies in Sabah, Salman said: “We already have some customers in Sandakan and Kota Kinabalu and are talking to a number of companies about different financing opportunities.”

He said the companies were involved in logging and reforestation, plywood, real estate and energy. He added that the focus would also be on the palm oil sector.

“We are talking to about 10 to 12 big companies and the deals will start happening before the end of this year,” he said.

Salman was speaking to reporters after inking a deal with Calyon London to conclude an Ijarah rental swaps-I transaction.

“An innovation of the KFHMB treasury division, the KFH Ijarah rental swap-I is a risk management tool which marries the demands of Islamic capital market users, who intend to actively manage cash flows arising from either assets or liabilities, with the strict Shariah standards governing Islamic finance activities,” he said.

The product enables customers to hedge against the risks market rate exposure. Customers can convert either their fixed or floating rate cash flow commitments into a manageable rate exposure suitable for their risk appetite and which would, help to mitigate volatility in the movement of market rates.

It can be used in conjunction with any variable or fixed Ijarah-based facility, such as contract financing, project financing, auto financing, asset acquisition financing or sukuk.

The underlying activities under this structure originated from swapping a fixed rental payment/receipts under the Ijarah structure with a floating rental payment/receipt; or vice versa.

Salman said the product was one of the first of its kind created in Malaysia and KFH had started marketing it overseas.
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Old April 4th, 2008, 05:25 PM   #33
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A re-look at new submission for city waterfront project

BERNAMA

KOTA KINABALU, Fri.:

The Sabah government has allowed all the relevant authorities to take a re-look at the new submission for the proposed Kota Kinabalu waterfront project - one of the key projects under the Sabah Corridor Development (SDC) blueprint - before making the final decision.

State Tourism, Culture & Environment Minister Datuk Masidi Manjun said today the decision was reached after the state Cabinet deliberated on the matter recently.

Asked whether the project will go on as planned, Masidi said the state government has to wait for the comments from the relevant authorities or departments but fell short of saying that the proposed project has been rejected.

"The state Cabinet has made it clear that no form of reclamation is allowed in moves to develop the Kota Kinabalu waterfront,” he told reporters here.

Last Jan 29, Waterfront Urban Development Sdn Bhd (WUD) unveiled the Kota Kinabalu City Waterfront (KKCW) development in collaboration with the Dewan Bandaraya Kota Kinabalu.

An agreement on the project was signed here between WUD, Kuwait Finance House (Malaysia) Bhd and a consortium of Middle Eastern and Malaysian investors.

The RM500 million Kota Kinabalu City Waterfront, within the SDC, is an integrated mixed seafront development in the city centre.

Expected to be completed by 2010, it will feature, among others, a 2-km long boardwalk built with eco-friendly materials rising above the sea on stilts.

Asked whether the parties concerned are required to submit a new development plan which is different from the original one, Masidi replied in the affirmative.

"It is a new submission altogether. Right now it (the project) is going through the normal process of evaluation by all the relevant authorities,” he said.

According to the SDC’s socio-economic blueprint prepared by the Institute for Development Studies (Sabah) (IDS) made available to the media recently, the waterfront areas of Kota Kinabalu and their hinterland are being rehabilitated and developed into a world-class waterfront city.

Once fully completed, the Kinabalu Harbour Front, stretching from Tanjung Aru to One Borneo in Likas, is poised to become the new landscape for Kota Kinabalu city like the Sydney harbour in Australia.

According to the blueprint, the RM2 billion Jesselton Waterfront will be completed over 15 years and feature a myriad of facilities meeting commercial, residential, entertainment, retail, accommodation and convention needs.

The SDC, the brainchild of Prime Minister Datuk Seri Abdullah Ahmad Badawi, intended to accelerate development in the state. It is among five economic corridors that are aimed at ensuring balanced growth throughout the country.
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Old April 9th, 2008, 10:05 AM   #34
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Dubai Group invests in Malaysian plant
Published: 2008/04/09




The financial-services unit of Dubai Investment Group will pay US$49.5 million for a stake in GBD Investment which has a biodiesel plant in Sabah


Dubai Group, the financial-services unit of Dubai Investment Group, bought a 30 per cent stake in a Malaysian biodiesel company for US$49.5 million to help the venture expand capacity and develop new estates.

GBD Investment Ltd has a 200,000 metric ton biodiesel plant in Sabah, the largest in Southeast Asia, Dubai Group said in an e-mailed statement today.

GBD Investment uses both palm oil and jatropha to produce biodiesel, it said. The proceeds from Dubai Group’s investment will be used to boost output capacity and develop jatropha plantations in the Philippines.

Asian biodiesel companies are seeking alternative crops to use as feedstock after crude palm oil prices rose to a record. Jatropha is a hardy plant that produces seeds containing an oil that can be converted to methyl esters and used in biodiesel. Unlike palm oil, it’s not edible.






The jatropha plantations, which will cover up to 200,000 hectares (494,200 acres), will have a potential annual production of 750,000 tons of crude oil, Dubai Group said.

Boeing Co, the world’s second-largest maker of commercial aircraft, is among companies examining jatropha’s potential energy use. GEM BioFuels Plc, which grows jatropha in Madagascar, was selling the oil at about US$500 a ton, compared with palm oil, which traded at RM3,393 (US$1,066) a ton in Malaysia today. - Bloomberg
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Old June 7th, 2008, 03:05 PM   #35
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KK City Waterfront





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THE CITY OF GEORGE TOWN, PENANG (1ST JANUARY 1957)

"the said Municipality of George Town shall on the First Day of January in the Year of our Lord one thousand nine hundred and fifty seven and forever thereafter be a city and shall be called and styled the CITY OF GEORGE TOWN instead of the Municipality of George Town and shall thenceforth have all such rank, liberties, privileges and immunities as are incident to a city." - Queen Elizabeth II
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Old July 12th, 2008, 05:59 PM   #36
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SDC Capable Of Bringing RM105 Billion In Investments, Says Musa
May 05, 2008 17:32 PM

KOTA KINABALU, May 5 (Bernama) -- Sabah Chief Minister Datuk Seri Musa Aman said the Sabah Development Corridor is capable of pulling in potential investments of RM105 billion with more than 900,000 jobs created during its 18-year tenure.

He said the state government's economy is also expected to go up by four times to RM63.2 billion by 2025, compared with RM15.1 billion in 2005.

The SDC plan rests on three main principles namely capitalising of high value economic activities, encouraging a balanced and evenly distributed economic growth and ensuring sustainable development through environment conservation.

"I am certain that the SDC will bring multifold benefits to the state and people of Sabah," he said in reply to a question from Datuk Louis Rampas (BN-Kiulu) during the Question and Answer session at the Sabah State Legislative Council meet here Monday.

He said several Government Linked Companies (GLCs) in Sabah such as the Sabah Foundation, Sabah Economic Development Corporation and Sawit Kinabalu, Petronas, Sime Darby, Kumpulan Suria, Felcra, Felda, Sabah Land Development Board and Sabah Rubber Industry Board already have plans for several high impact projects to invest in SDC with their estimated investment amount coming to RM15 billion in worth as todate.

These high impact projects include the construction of a convention centre, resort, planting of food, rubber and jatrofa plantations, livestock, acquacultures well as processing of diesel and production of biodiesel and production of oil and natural gas.

Musa who is also State Finance Minister said several groups such as UEMGroup, Technology Park Malaysia, Universiti Putra Malaysia and Marditech Corporation were also showing interest to get involved in SDC, especially in the development of infrastructures, production of high quality food and new products.

He said several agencies from the Federal Government have had series of discussions to discuss in detail their participation in SDC initiatives especially the development of human capital, research and development facility and the development of small and medium sized industries and new entrepreneurs.

"Representatives from several foreign embassies in Malaysia including Denmark, France, Brunei, Korea and Japan have also expressed their interest to participate in SDC.

"Investors from Indonesia, the Philippines, Taiwan, Australia and Middle East have also indicated their interest to invest in SDC. They are of the opinion that SDC has greate potential for the tourism sector, agro industries and natural iol and gas sector," he said.

-- BERNAMA
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Old July 17th, 2008, 03:50 PM   #37
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Dubai Keen On Agricultural Cooperation With Sabah
July 14, 2008 21:10 PM
By Muin Abdul Majid

DUBAI, July 14 (Bernama) -- Dubai is keen to cooperate with Sabah in the agriculture sector as part of a broader objective to secure food supplies amid concerns over rising food prices in the emirate and in the Middle East.

This was conveyed during a meeting between members of a Sabah trade and investment mission and the Dubai Chamber of Commerce and Industry here recently.

Dubai Chamber general advisor Nizar Sardast described the climate in Sabah as suitable for agricultural activities.

"Dubai, the United Arab Emirates (UAE) and Arab countries in general are looking at ways to address the issue of food supply.

"And I think, perhaps, we can cooperate in this field. The matter should be considered seriously," he told the Sabah delegation led by Datuk Wong Khen Thau, president of Federation of Sabah Manufacturers.

Reports indicated that the UAE and its emirates are taking a slew of measures to improve their food security.

Abu Dhabi, for example, plans to develop 30,000 hectares of farmland in Sudan, Africa's biggest country, in a strategy to improve food security in the emirate.

The UAE is also pursuing investments in farmland and other agricultural business projects in Egypt in an attempt to secure strategic food reserves.

-- BERNAMA
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Old July 26th, 2008, 05:09 AM   #38
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SLDB Says It Can Help Sabah Reach Self Sufficiency In Rice Production By 2020
July 25, 2008 17:30 PM

KOTA KINABALU, July 25 (Bernama) -- The Sabah Land Development Board (SLDB) says it can help the state reach self-sufficiency in rice production by 2020 by producing almost 50 per cent of the annual requirement.

But holding back the state-owned agency, whose core business is oil palm and smallholder schemes, is that it does not have a land of its own to develop.

"Give us the land and SLDB will put it to good use by planting food crops, essentially paddy.

"We have the resources and capabilities but lack the most essential asset - arable land that can be converted for food production. Without the land, there is nothing much we can do to assist the government attain self-sufficiency and cut down food imports," said outgoing Chairman, Tan Sri Joseph Kurup, a fact concurred by his replacement, Datuk Sapawi Ahmad

Kurup and Sapawi, who is also the MP for Sipitang was speaking at a press conference here today after Kurup, who is now Deputy Minister for Rural Development, officially handed over his duties as SLDB Chairman, to Sapawi.

Earlier, they were briefed on SLDB's current operations and successes by General Manager, Mr Jhuvarri Majid, who also touched on the agency's diversification plans to go into production of both food crops as well as essential commodities.

SLDB is suggesting that all suitable land for paddy cultivation be parked in its land bank for the purpose of cultivation of paddy and other food crops if necessary, in the future.

SLDB has set up a 100 per cent owned subsidiary, Padiberas Sabah Sdn Bhd to cultivate paddy on some 26,500 hectares of land, following a directive by the State government. Sabah imports almost 70 per cent of its rice requirements.

The agency has been offered 6,000 hectares of land in the Sook plains for padi cultivation and a feasibility study is now being carried out.

"The government must help us source the remaining 20,000 hectares as soon as possible," said Sapawi, adding that he would brief Chief Minister Datuk Seri Musa Aman on the situation as the land issue was an urgent matter.

It is believed that there are some 800,000 hectares of arable land in Sabah that could be developed with food crops.

"With 26,500 hectares of land and assuming we go for one and a half crops a year and a yield out of six tons per hectare, we can produce 143,100 metric tonnes of rice a year and this figure will increase when we do double cropping and increase paddy output per hectare," said Sapawi.

-- BERNAMA
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Old July 28th, 2008, 11:31 AM   #39
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Sabah Confident Its Poverty Rate Could Be Greatly Reduced By 2010
July 28, 2008 14:52 PM

KOTA KINABALU, July 28 (Bernama) -- A lot needs to be tackled to achieve zero-poverty in Sabah by 2010.

Even if the state rural development ministry is unable to achieve zero-poverty by that year, it is confident of greatly reducing the poverty rate by then, said minister Datuk Joseph Pairin Kitingan.

The deputy chief minister said although the target year was a little over a year from now, the state government was committed to go all out within that short period of time to make a great difference in the number of poor and hardcore poor in the state.

"If we ask for the federal government to make an exception for Sabah, say extend the target year from 2010 to 2015, we fear our commitment will also deteriorate.

"If we cannot achieve zero poverty by that year, at least we want to know that we are heading towards it.

"Eradicating poverty completely is not an easy task. But we see this as a necessity and it must be done no matter what," he said.

Pairin was speaking to reporters here Monday after the handing-over ceremony of two Mini Estet Sejahtera (Mesej) projects to be managed by Sabah Land Development Board (SLDB).

Explaining why the government would not ask the federal government to give Sabah a target year later than 2010, Pairin said the government feared the Poverty Line Income would go up and push more poor into the hardcore poor category.

"The poverty line used to be RM435 per month. Now, it is has gone up to RM540 per month. If it goes up again in a year or two, taking into account of all the price hike of goods, then we will be in big trouble.

"But we dont want to use the ever-changing economic situation as an excuse to delay our efforts in improving the peoples lives," he said.

As of September last year, Pairin said there were 21,514 hardcore poor in the state and the rate was diminishing.

Earlier, the ministry handed over two Mesej projects to SLDB whereby the estates, Kampung Bunang, Keningau and Diwata, Lahad Datu, would be developed with oil palm plantation to benefit the hardcore poor there.

-- BERNAMA
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Old September 29th, 2008, 04:27 AM   #40
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Resort puts visitors in touch with ecology
By : Jaswinder Kaur


A visitor holding a starfish and other sea creatures at the Marine Ecology Research Centre’s ‘touch tank’. The tank is a hit among children as they can touch and hold the marine organisms living in it. — NST picture by Edmund Samunting


KOTA KINABALU: Responding to the growing threat to marine life, and the push for businesses to be more environment-friendly, an island resort has set up a research centre and a programme to rehabilitate corals and fish injured by trawler nets.

The Marine Ecology Research Centre (MERC) at the Gayana Eco Resort also teaches its guests about the island's ecosystems and the need to conserve them.

This is part of the Sabah Development Corridor (SDC) blueprint, as the state moves to boost its economy through tourism.

MERC director Alvin Wong said a key programme was the breeding of giant clams, which in the past had ended up on the tables of seafood restaurants and displayed as ornamental pieces.

He said seven of the eight species of giant clams in the world were being monitored and bred at the centre, including two which had been classified as locally extinct.

"Giant clams are important in the ecosystem as they take in harmful waste nutrients and expel clean water into the environment.

"They grow slowly and have a minimal defence system which makes them highly vulnerable to natural enemies or human threats, such as unsustainable collection, which have accelerated extinction rates."

The centre at Malohom Bay in Pulau Gaya, 15 minutes by speedboat from the city, has also started a Coral Restoration Programme to restore the reefs around the resort that have fallen victim to destructive fishing methods, sedimentation and pollution from the mainland.

Wong said an artificial reef structure connected to low voltage electricity had been built to encourage the growth of corals.

"The current encourages dissolved minerals to crystalise on the surface of the structure.

"This layer is the same mineral that makes up the natural skeleton of coral reefs.

"Corals rapidly colonise the encrusted structure and grow quickly because the electrical current also attracts vital minerals and nutrients."

Under the programme, visitors can also replant hard coral fragments found around the bay.

Wong said the centre had also built tanks replicating the mangroves and sea grass beds around the island to teach visitors about its ecosystem.

"We want our visitors to see the massive root systems of the mangroves which protect the coast from erosion and storms, and provide an environment for many commercially important species of fish.

"Sea grass beds are another ecosystem we want to teach people about.

"Important species such as dugong and sea horses feed on sea grass."

The centre also has a "touch tank" where children can touch and hold marine organisms such as starfish.
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