KUCHING: Six Sigma VC Sdn Bhd (Six Sigma VC) and the Sabah Economic Development Corporation (SEDCO) yesterday signed a memorandum of understanding (MOU) appointing the former to assist in attracting foreign investments and carry out all types of development projects in Sabah.
SEDCO chairman Dato Sro Nasir Tun Sakaran (fourth left), Tham (fifth left), Tan (sixth left) and others in a photo call after the MOU signing ceremony.
SEDCO isa state-owned agency responsible in assisting the Sabah government to stimulate industrial, commercial and socio-economic development there.
Semporna Sabah was chosen as the first stage of development with the integrated development project named The Latitude 4.
Six Sigma VC Group chairman Alan Tam said Sabah Semporna is geographically located at the north latitude four degrees of the earth.
He also added that Sabah is a naturally resourceful.
Over the next five years, The Latitude 4 integrated project development will create 15,000 new employments and to attract at least RM2 billion foreign investment for the state.
“Our goal in 20 years’ time is to develop Sabah as an Eastern Dubai,” said Tham during the signing ceremony.
He stressed that in addition to driving the development of Sabah, Six Sigma VC will also work along with the Governments to improve the living standard of the local society.
Chief executive officer Billiant Tan explained that The Latitude 4 includes four major areas, namely seaweed cultivation, eco-tourism, hotels and commercial development.
Other developments plans in the pipeline include fish farming, satellite city development, assets management, technology development, advertising and so on.
He mentioned that seaweed cultivation has positive market potential which was why the company invested RM 5 million to develop the seaweed cultivation industry there.
“Many people did not know, minerals and carbon dioxide actually helps algae coral growth, this is why Semporna housed some of the world’s most beautiful coral preservation area,” Tan explained.
“And Sipadan, an island located 35km south of Semporna, is a world known as one of most beautiful island, so the development of eco-tourism will attract more tourists to Sabah.” Meanwhile, Tan said Sabah’s strategic location within the commercial center of Brunei, Indonesia and the Philippines has led many interested parties abusing the state’s resources for unlawful activities.
Some organisations claimed responsibility for a number of development projects in Sabah to attract foreign investors to participate with the temptation of high returns, but in actual fact, there was no such developments carried out, he added.
“We hope the government will take actions towards these parties in orderto avoid investors being cheated andto avoid leaving a negative impact on our country,” Tan said.
Meanwhile, he also stressed that the SEDCO has only appointed Six Sigma VC Group of Companies to be responsible for the development in State of Sabah and urges investors do not easily fall believe what others has claimed.