KUALA LUMPUR, 14 May 2025
Bank Pembangunan Malaysia Berhad (BPMB) has formalised a strategic financing partnership with Pangolin Resort Sdn Bhd (PRSB) to support the development of the Lundu Beach Resort in Sarawak.
This collaboration highlights BPMB’s ongoing commitment to the tourism sector and its goal to position Malaysia as a world-class destination and boost its competitiveness in the global tourism market.
Through this partnership, BPMB provides an RM33.87 million Tawarruq Asset Financing Facility for Phase 2 of the resort’s development. The funding will support the construction of 72 hotel units and 28 villas, as well as a banquet hall, outdoor dining area, and restaurant. This phase will elevate Sarawak’s hospitality infrastructure and contribute to the region’s broader economic growth.
Strategically located in Lundu, the resort is anticipated to generate substantial socio-economic benefits for the local community. The project will create 69 jobs (49 during the construction phase and 20 during operations) and is expected to have positive spillover effects on nearby towns and small businesses. Overall, up to 300 individuals in the community are projected to benefit from the development.
The financing facility was evaluated using BPMB’s internal MIND framework (Measuring Impact on National Development), which assesses alignment with the 12th Malaysia Plan and broader environmental, social, and governance (ESG) goals.
The project achieved a strong score on the Development Impact Index, particularly for its potential to create jobs, promote sustainable tourism, and uplift local communities.
Wee Yee Tat, BPMB’s Head of Corporate Banking and Advisory, stated that the project aligns with the bank’s mandate and addresses key socio-economic goals by creating employment, supporting local businesses, and improving living standards in Lundu.
Meanwhile, YH Dato Sri Thomas Lau, Director of Pangolin Resort Sdn Bhd, expressed honour in partnering with BPMB to realise the vision of the resort, which aims to showcase Sarawak’s coastline and act as a catalyst for tourism growth and local economic stimulation.