KUALA LUMPUR (March 15): St Regis Hotel and Langkawi International Convention Centre (LICC) have become game changers to the tourism industry in Langkawi, the Dewan Rakyat was told yesterday.
The ministry of finance said both pilot status projects were completed in 2015 and aimed at making Langkawi a high-income tourist destination via the development of integrated coastal areas.
It said in a written reply to a question from Mohd Rafizi Ramli (PKR-Pandan) that the projects were developed by a special purpose vehicle through a joint venture between the government and Rajawali Group from Indonesia.
Mohd Rafizi had sought explanation on the total amount of funds and loans provided for the construction of both projects, as well as the banks and agencies extending them.
This article first appeared in The Edge Financial Daily, on March 15, 2017.