KUALA LUMPUR: Khazanah Nasional Bhd has already invested over RM4bil in Johor’s Desaru Coast and Legoland Malaysia Resort, says Datuk Seri Anwar Ibrahim.
Anwar, who is also the Finance Minister, said the investment is via wholly owned subsidiary Destination Resorts and Hotels Sdn Bhd.
He said at Desaru Coast the investment covers infrastructure and strategic tourism assets.
These include The Westin Desaru Coast Resort, Hard Rock Hotel Desaru Coast, Anantara Desaru Coast Resort & Villas and The Sireya Desaru Coast by Mandarin Oriental.
He said the latter was formerly operated by One & Only Desaru Coast.
“Over the next five years, development at the Desaru Coast will be strengthened,” he said.
Anwar said this includes more hotel rooms, resorts, branded residences and other tourism facilities.
He said this in a Parliamentary written reply to Yeo Bee Yin (PH-Puchong).
Yeo asked about total Khazanah investment in Desaru Coast and the financial performance generated.
Anwar said Desaru Coast is expected to benefit from the Johor–Singapore Special Economic Zone.
He said the JS-SEZ will enhance competitiveness and regional development.
“Currently, Desaru Coast has created about 1,500 job opportunities,” he said.
He said Malaysian citizens fill 98% of these.
“Khazanah and DRH remain committed to ensuring inclusive benefits to the local community,” he said.
He added that more employment opportunities will be created in the future.
Anwar said Khazanah, as the sovereign wealth fund, is mandated to invest in long term developments.
He said these support sustainable economic growth, adding that the Desaru Coast investment is catalytic for tourism and can generate financial returns and strengthen the tourism ecosystem.
Anwar added that it creates business opportunities, attracts private investment and lifts Malaysia’s regional profile.
“For the record, Khazanah has also established strategic partnerships in Desaru Coast,” he said.
He said these include Permodalan Darul Ta'zim, a Johor state owned entity managing key state assets.
