Kota Kinabalu: The Seri Malaysia Group of Hotel will build its first hotel in Sabah at Semporna with the cost of RM35 million, Chief Minister Datuk Seri Musa Aman said Wednesday.
He said the fund had been approved by the Federal Government with State investment arm, Sabah Economic Development Corporation (Sedco) representing Sabah as the land owner in the joint-venture deal.
The mid-range Seri Malaysia Hotel chain was implemented by the Federal Government in the effort to boost up the tourism industry in Malaysia under the Sixth Malaysia Plan.
Together with the Ministry of Finance, the Federal Government has incorporated Rangkaian Hotel Seri Malaysia Sdn Bhd (RHSM) as an agent to manage the mid-range hotel chain project.
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