Sabah signs MoUs on RM4.3b projects
Published on: Wednesday, January 19, 2022
.jpg "Sabah signs MoUs on RM4.3b projects")
Mou2China – Hajiji (3rd left, standing) witnessing the signing of a MoU between State government and investor from China, China-SBH Kibing Solar New Materials (M) Sdn Bhd.
CHIEF Minister Datuk Seri Hajiji Mohd Noor witnessed the signing of three Memoranda of Understanding (MoUs) totalling RM4.3 billion between the State Government, Yayasan Sabah and investors in conjunction with the Sabah International Business and Economic Summit (SIBES) 2022 at the Sabah International Convention Center (SICC), Tuesday.First was a MoU between the State Government through the Sabah Ministry of Agriculture and Fisheries and BorneoMed Sdn Bhd to develop an Integrated Herbal Plantation (SIHP), with an investment of RM350 million.
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The Ministry of Agriculture and Fisheries was represented by its Permanent Secretary Datuk Dr Mariana Tinggal and the State Attorney General Datuk Nor Asiah Mohd Yusof as witnesses, while BorneoMed was represented by its Chief Executive Officer Ahmad Fauzi and witnessed by the company’s Executive Director, Francis Sina.
BorneoMed’s investments include commercial technologies such as planting materials, high density and high yield planting technologies, Internet of Things (IOT) systems, smart agricultural digitisation, commercial processing equipment, warehousing systems as well as other infrastructure and facilities.
The second MoU was between the State Government through the Sabah Ministry of Industrial Development (MID) and investors from China-SBH Kibing Solar New Materials (M) Sdn Bhd to develop a silica sand processing plant and produce solar panels with an initial investment value of RM2 billion.
Signing on behalf of MID were its Permanent Secretary Thomas Logijin and State Attorney General Datuk Nor Asiah Mohd Yusof as witnesses, while SBH Kibing Solar New Materials (M) Sdn Bhd represented by its President Lin Hai and SBH Kibing CEO, Yao Xin Xi as witnesses.
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This project would create 2,000 jobs, of which 80pc will be reserved for local workers and the entire operation is expected to commence in 2024.
The location of the solar panel plant would be determined later either in the Kota Kinabalu Industrial Park (KKIP) or in the Sipitang Oil and Gas Industrial Park (SOGIP), which requires an area of 130 acres.
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The successful realization of SBH Kibing Group (M) Sdn Bhd’s investment proposal is the result of MID’s collaboration with state and federal government departments and agencies involved in facilitating investment process.
The third MoU was between Yayasan Sabah and Pavilion Kota Kinabalu Sdn Bhd for the development of Pavilion Harbor City with a gross development value (GDV) of RM2 billion.
Yayasan Sabah was represented by its Director and Executive Chairman of Innoprise Corporation Sdn Bhd, Datuk Gulamhaidar @ Yusof bin Khan Bahadar, witnessed by the Corporate Secretary of Yayasan Sabah Hanafiah Diman, while Pavilion Kota Kinabalu Sdn. Bhd. was represented by its director, Jameson bin Pias and witnessed by its General Manager Timmy Gan Ve Li.
Pavilion Kota Kinabalu Sdn Bhd, an affiliate of the Pavilion Group is a well-known company and developer with experience in commercial and luxury residential development.
The development covers an area of 30 acres of sea-land adjacent to the Northeast border of SICC and would be completed within 10 years.
Pavilion Harbor City includes residences, seaside restaurants, fishing markets, luxury hotels for accommodation, resorts and recreational activities.
The number of employment opportunities during the development is estimated at about 1,000 people, while about 2,000 people will get employment opportunities after the development is completed.
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