Tan (Sabah is blessed) to buy or build hotels
Published on: Monday, August 12, 2024
By: Sherell Jeffrey
On the impact of the recent boycott campaigns on western franchises like Starbucks coffee over alleged ties to Israel, Tan acknowledged that the company suffered financial losses. - The Edge Markets pic.
Kota Kinabalu: Tan Sri Vincent Tan whose Berjaya group boasts a string of hotels at home and abroad is keen on investing in Sabah’s tourism sector again.
“God blessed Sabah with beautiful islands, beautiful water. Tourism is big here,” he said, expressing regret over the sale of Berjaya Palace hotel.
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“Those days we had a hotel called Berjaya Palace. I do not understand why we sold it. That was a stupid thing we did.
“We now have to come back and look to buy a hotel or build a hotel and we will. Or build several. I will do it because Sabah is great,” he told the Sabah CEO Master Class 2024 event last Thursday.
The event was organised by the Sabah Young Business and Industry Leaders Network in collaboration with the Malaysia International Chamber of Commerce & Industry Sabah Chapter.
On the impact of the recent boycott campaigns on western franchises like Starbucks coffee over alleged ties to Israel, he acknowledged that the company suffered financial losses.
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“Yes, there was an impact, we lost sales. However, I hope the situation will blow over. The key is for Israel to cease its actions in Gaza and work towards lasting peace.
“If Israel stops all the things they are doing, I think this sort of thing will have more positive impact not only for us but the world,” Tan said.
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He also hoped everyone would adopt a more measured and balanced approach to resolve complex geopolitical issues.
Addressing the broader impact of such boycott campaigns on investor confidence, Tan noted the challenges faced by the government.
“I think the government is trying its best. The government sometimes it is very hard for them to … well they cannot do very much,” he said.
“People need to be more realistic and reasonable in their approach. Boycotts can ultimately hurt Malaysians who may lose their jobs as a result.
“People have to be realistic and reasonable because if you boycott something many people in that company lose their jobs. You have to think of fellow Malaysians if you do this kind of thing,” he said
On whether his gaming operation, Sports Toto, had donated to Chinese schools, he said:
“We donate to many things and so it is up to them to think this is no good, if they don’t want it, it is up to them.”
Tan also spoke about Artificial intelligence (AI) rapidly becoming a major focus in countries around the world, including Malaysia.
“AI is a big thing now,” he said when asked if there are plans to extend Berjaya Corporation’s AI bootcamps for teens held in peninsula to Sabah as well.
“I met someone through the Tzu Chi Foundation who was doing AI work in the United States. He wanted to move back to Malaysia to help.
“He proposed starting an AI education programme in Malaysia, even though it would not be highly profitable. He explained it is not going to make a lot of money but we will help Malaysians to learn about AI,” Tan said.
The first programme they recently launched in peninsula was very well-received, with Tan noting that “everyone was very happy with it.”
“Plans are now in the works to expand the AI education initiative across Malaysia, including to Sabah,” he said.
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