Khazanah's Massive Investment in Desaru Coast and Legoland Malaysia: A Deep Dive
KUALA LUMPUR: Khazanah Nasional Bhd, through its subsidiary Destination Resorts and Hotels Sdn Bhd, has poured over RM4 billion into the development of Johor's Desaru Coast and Legoland Malaysia Resort, according to the Finance Ministry. This substantial investment is a testament to Khazanah's commitment to enhancing Malaysia's tourism landscape.
The investment encompasses a wide range of projects, including infrastructure development and the creation of strategic tourism assets. Among these are internationally rated hotels, which will undoubtedly elevate the overall visitor experience.
Khazanah has also forged several strategic partnerships with prominent investors, including Permodalan Darul Ta'zim, a Johor state government entity. These partnerships are designed to further strengthen the development of Desaru Coast over the next five years, with plans to add more hotel rooms, resorts, branded residences, and other tourism facilities.
The ministry highlighted the potential benefits of the Johor-Singapore Special Economic Zone (JS-SEZ) for Desaru Coast. The JS-SEZ is expected to boost the destination's competitiveness and regional development, attracting even more visitors and investors.
This massive investment comes in response to a question from Yeo Bee Yin (PH-Puchong) regarding the total investment and financial performance of Khazanah in Desaru Coast. The ministry's detailed response provides valuable insights into Khazanah's strategic vision for the region.
In a separate response to Dr. Abd Ghani Ahmad (PN-Jerlun), the ministry clarified that the government has no plans to establish a national deposit fund. This decision ensures that private and corporate deposits remain protected and are used for their intended purposes, under the supervision of respective ministries or departments.
