Thursday, May 15, 2008


US$20 bln floating resort, fishing port for Labuan


A USD20 billion MAFA Resort Smart City with an International Integrated Deep Sea fishing Port, featuring many first- in-Malaysia floating facilities, is being proposed for Labuan. MAFA Groups Corporation Sdn Bhd on Tuesday night officially announced the ambitious plan here and signed an MOU with a consortium led by MS Azam Holdings Sdn Bhd. Other members of the consortium are Naturelink Industries Co, Royal Corejati Group & Consultancy Company Limited and NCCorp Netcomm Technology Sdn Bhd. “This project would integrate three core activities that are development targets of the island’s deep sea fisheries, tourism and education,” the Managing Director of MAFA, Kamaruzzaman Abu Samah said at the signing ceremony at a leading hotel here Tuesday night. The development of the hi-tech state-of-the-art deep sea fishing port and Smart Resort City would be done in collaboration with Lembaga Kemajuan Ikan Malaysia (LKIM), who would provide the marine/ fisheries expertise while FAMA would provide the technical construction and financing, he added. Kamaruzzaman said the project would be showcased as the biggest floating structure in the country. It would include, for the first time in Malaysia, the following floating facilities: township, fishing port, golf course and clubhouse. The project that would be spread over 15 years would stretch from Tanjung Kubong to Tanjung Kerupang. While expressing his gladness that is such a mega project is proposed for Labuan, local Member of Parliament, Datuk Yussof Mahal who witnessed the signing ceremony said, “I hope it will materialize for the good of the island and that it would be profitable for the investors.”