The Managing Director of Aifa Sdn Bhd, Dr. Andy Lau, who is also the owner of Hotel Aifa 2 Sdn Bhd in Labuan, recently signed a contract with the Deputy Chief Executive Officer (Development) of Labuan Corporation (LC) Mohd Zamri bin Mohd Esa.

The agreement is for the construction of four units of office buildings for the Labuan Corporation (LC) at a cost of RM10.416 million by Hotel Aifa 2 Sdn Bhd.

The signing ceremony between LC and the howl was witnessed by the Federal Territories Minister, Datuk Seri Tengku Adnan bin Tengku Mansor. The ceremony took place at a luncheon held at Jade Garden, Hotel Aifa.

The five-storey office building will be developed on five lots of land (1,488.429 square metres) owned by LC.

The proposal for the joint-venture project was approved by the Malaysian cabinet on July 13 this year.

In return based on the agreement, Hotel Aifa 2 Sdn Bhd will develop a 14-storey hotel at the cost of RM62 million on a land (1,023 square metres) owned by LC where the project is expected to be completed within 36 months.

The 140-room hotel will be equipped with other facilities such as swimming pool and gymnasium.

The construction of the hotel will provide more rooms for the visitors coming to Labuan and contributing to the island's economic development.

Also present during the ceremony were the Secretary General of Federal Territories Ministry, Datuk Seri Adnan bin Md Ikhsan, Labuan Member of Parliament, Datuk Rozman bin Datuk Haji Isli, Senator Datuk Haji Yunus bin Haji Kurus, Deputy Chief Executive Officer (Town Service) of LC,Rithuan Mohd Ismail and the former chief executive officer of LC, Datuk Mohd Nadzri Osman as well as Director of Aifa Sdn Bhd, Lily Ngu and Aifa staff from Brunei.

Dr. Andy Lau yesterday told the Bulletin that the project is the first government project in Labuan signed with a private sector.

When asked what his view of Labuan's potential is in terms of investment, he said Labuan is an oil and gas-based and free port.

Currently, Aifa Sdn Bhd owns five hotels in the island and plans to construct another hotel soon.

Source:
@BRUDIRECT.COM

by BruDirect.com

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