Khazanah Nasional has invested over RM4 billion in Desaru Coast and Legoland Malaysia, with further development planned over the next five years.
KUALA LUMPUR: Khazanah Nasional Bhd has invested over RM4 billion in Johor’s Desaru Coast and Legoland Malaysia Resort through its subsidiary Destination Resorts and Hotels Sdn Bhd.
The Ministry of Finance confirmed the investment in a written parliamentary reply, stating it covers infrastructure development and internationally rated hotels.
Khazanah has established strategic partnerships in Desaru Coast with prominent investors including Permodalan Darul Ta’zim, the Johor state government’s asset management company.
Development at Desaru Coast will continue over the next five years with additional hotel rooms, resorts, branded residences and various tourism facilities.
The destination is expected to benefit from the Johor-Singapore Special Economic Zone implementation, enhancing its competitiveness and regional development.
The ministry was responding to Yeo Bee Yin’s query about Khazanah’s total investment and financial performance in Desaru Coast.
Separately, the government has no plans to establish a National Deposit Fund to safeguard private and corporate deposits from misuse.
Deposits by individuals or companies are subject to specific purposes and must be credited into supervised Deposit Accounts.
The MOF establishes Trust Accounts and Trust Funds under the Financial Procedure Act 1957, responding to Dr Abd Ghani Ahmad’s question about deposit protection. – Bernama
