Labuan Corporation Opens Up Five Strategic Assets For Leasing, Development
By Jailani Hasan
LABUAN, Aug 7 (Bernama) -- The 18-hole Labuan International Golf Club (LIGC), which has hosted Professional Golf of Malaysia (PGM) championships co-sanctioned by the Asian Development Tour (ADT), is among five strategic assets being offered by Labuan Corporation for lease and development.
The golf club features a 16-bay driving range, chipping and putting greens, as well as practice bunkers, and has served as a training ground and camp destination for young professional golfers and golfing delegations from South Korea. Among the prominent players who have trained at the facility is Korean Ladies Professional Golf Association (KLPGA) golfer Seon Woo Bae.
Beyond hosting major professional golf circuits, LIGC also serves as a regional training ground and regularly hosts local corporate and state-level invitational tournaments.
The other assets being offered are the popular six-acre tourist island of Pulau Rusukan Besar, the prime 1.189-acre former Hotel Labuan site following the recent demolition of the hotel building, a parcel of land at Jalan Dewan and another parcel at Jalan Tuanku Sharif Kedah.
Labuan Corporation chief executive officer Rithuan Ismail said the leasing exercise was in line with efforts to boost Labuan’s economic development for the benefit of the island and its people.
“We are inviting potential bidders with relevant experience, strong financial capability and suitable development proposals to participate in this leasing exercise. These strategic assets have strong development potential, and their optimal utilisation is expected to stimulate new economic activities, create employment opportunities and contribute to Labuan’s long-term growth,” he told Bernama today.
Rithuan said local and international private companies registered with the Companies Commission of Malaysia (SSM) have been invited to submit development proposals through leasing, privatisation or other suitable forms of development collaboration.
He said the proposed developments must be aligned with Labuan Corporation’s development objectives and contribute positively to the island’s economy, tourism sector and community.
Interested companies may obtain the application forms and terms of reference from the Investment Unit Office at Menara Perbadanan Labuan or download them from the Labuan Corporation official website.
The application period, which opened on Aug 4, will close on Sept 4, 2026.
Briefing sessions and site visits may be arranged at any mutually agreed time between the corporation and prospective bidders.
Rithuan said Labuan Corporation was not bound to accept any proposal and would not be responsible for costs incurred by bidders in preparing their submissions.
-- BERNAMA