Kuching, 13 May 2025 – Bank Pembangunan Malaysia Berhad (BPMB) today formalised a strategic financing partnership with Pangolin Resort Sdn Bhd (PRSB) to support the development of the Lundu Beach Resort in Sarawak. The initiative underscores BPMB’s continued commitment in support of the tourism industry to promote Malaysia as a world-class destination and to enhance the country’s competitiveness in the global tourism market.
Under this partnership, BPMB is extending a RM33.87 million Tawarruq Asset Financing Facility for Phase 2 of the Lundu Beach Resort, which will include the construction of 72 hotel units and 28 villas, along with a banquet hall, outdoor dining space, and restaurant. The project is expected to elevate Sarawak’s hospitality offerings and contribute to regional economic development.
The resort, strategically located in Lundu, is expected to deliver meaningful socio-economic impact to the area, including the creation of 69 employment opportunities; 49 during construction and 20 during operations as well as generating spillover economic effects to nearby towns and small local businesses. It is estimated that up to 300 individuals in the community may benefit from the development.
The financing facility was assessed using BPMB’s internal MIND framework (Measuring Impact on National Development), which evaluates alignment with the 12th Malaysia Plan and broader environmental, social and governance (ESG) considerations. The project scored highly under the Development Impact Index, particularly for its potential to stimulate job creation, promote sustainable tourism, and uplift the local community.
Speaking at the ceremony, Wee Yee Tat, BPMB’s Head of Corporate Banking and Advisory said, “This project aligns with our mandate, and more importantly, it addresses key socio-economic goals by creating jobs, supporting local businesses, and enhancing the standard of living in Lundu.”
YH Dato Sri Thomas Lau, Director of Pangolin Resort Sdn Bhd, added, “We are honoured to work alongside BPMB in bringing this vision to life. The Lundu Beach Resort will not only showcase the beauty of Sarawak’s coastline, but also serve as a catalyst to boost tourism, stimulate local economic activity, and create meaningful opportunities for the surrounding communities.”
With this collaboration, BPMB continues to deliver impact capital into projects that not only generate economic value but also uplift local communities and strengthen the nation’s tourism ecosystem. The Lundu Beach Resort stands as a testament to what purposeful financing can achieve when aligned with national priorities and local aspirations.
About Bank Pembangunan Malaysia
Incorporated on 28 November 1973, Bank Pembangunan Malaysia Berhad is a development financial institution wholly owned by Minister of Finance (Incorporated). The Bank holds the highest ‘AAA’ rating from both RAM Rating Services Berhad and Malaysia Rating Corporation Berhad and operates under the regulatory oversight of Bank Negara Malaysia as stipulated by the Development Financial Institution Act 2002.
With Group Total Assets valued at RM29.0 billion as of 31 December 2023, Bank Pembangunan is well-equipped to meet the financing and development needs of Malaysian businesses. Effective 1 May 2025, EXIM Bank and SME Bank became subsidiaries of Bank Pembangunan Malaysia Berhad. For more information, visit www.bpmb.com.my.